Document:

asb09302022ex101

September 28, 2022  BY HAND DELIVERY  Michael 0. Meinolf  11231 N. Country View Drive  Mequon, WI 53092  RE: Separation Agreement  Dear Mr. Meinolf:  Associated Bank  This will confirm your voluntary resignation of employment with Associated Banc-Corp  or its direct or indirect subsidiaries ( collectively "Associated Bank" or the "Company"), effective  October 1, 2022 (the "Resignation Date").  Provided that you timely sign this Agreement and comply with all its terms, the Company  will provide you with the separation payments described in Paragraph 2, below (the "Separation  Payment"). This Agreement shall be effective on the date you sign it, provided you do not  exercise your revocation right as described in Paragraph 4(D), below.  You are not required to sign this Agreement. However, if you do not sign it, you will not  receive the Separation Payment. Under all scenarios, you will receive the Unconditional  Payments and Benefits set forth in Paragraph 1, below, upon your separation from your  employment with the Company.  (1) Unconditional Payments and Benefits. Whether or not you choose to sign this  Agreement and accept the terms contained herein, or after having done so, exercise your right to  revoke your acceptance of these terms as described in Paragraph 4(D), below, the following  circumstances will apply to you:  (A) The Company will pay you your regular base wages through the  last day of your employment with the Company;  (B) You will retain all your vested rights, if any, as of the last day of  your employment with the Company in the Company' s 401(k) plan and will  receive all payments due you under the terms of that plan;  (C) If you were a participant in the Company's group health insurance  plan on the last day of your employment with the Company, the Company will  provide you with the right to participate, at your own expense, in such plan in  accordance with the mandates of the Consolidated Omnibus Budget  Reconciliation Act of 1985, as amended ("COBRA"). If you do not elect  COBRA continuation coverage, your health insurance coverage with the  Company shall end on October 31, 2022; and  HB: 4882-8469-9701.3  

 

Michael 0. Meinolf  September 28, 2022  Page 2 of8  (D) You will receive the Company's Employee Assistance Plan (EAP)  benefits through April 1, 2023.  The payments described in Paragraphs l(A) and (B), above, will be subject to normal  deductions for income and employment taxes and will be paid to you as required by applicable  law.  (2) Conditional Separation Payment.  (A) If you accept this Agreement and do not exercise your revocation  rights as described in Paragraph 4(D), below, in consideration of your  undertakings, the Company will pay you the Separation Payment in two  installments, as set forth below.  (B) The Separation Payment shall be in the total amount of Three  Hundred Fifty Thousand and no/1 00ths Dollars ($350,000.00), which shall be  paid in exchange for your undertakings under Paragraph 3, below, including but  not limited to the forfeiture of any and all unvested equity awards. Each such  payment shall be subject to all applicable income and employment tax  withholdings.  (C) The Separation Payment shall be paid in two installments:  (i) The first installment payment of One Hundred Fifty  Thousand and no/lO0ths Dollars ($150,000.00) shall be paid on the  Company's first regularly scheduled payroll date occurring not less than  five (5) business days following the expiration of the Revocation Period  (as defined below).  (ii) The second installment payment of Two Hundred  Thousand and no/1 00ths Dollars ($200,000.00) shall be paid on the  Company's regularly scheduled payroll date occurring on or after the first  (1 s~ anniversary of the Resignation Date.  (D) All outstanding vested equity awards shall continue to be governed  by the terms of any equity incentive plan under which they were granted, and any  vested stock options shall expire according to the terms of any stock option award  agreements and such equity incentive plans.  (3) Your Undertakings. In exchange for the Separation Payment provided to you  under Paragraph 2, above, which you acknowledge is greater in its totality than any payments or  benefits which you would receive absent this Agreement, you agree as follows:  (A) You agree, on behalf of yourself, your heirs, successors and  assigns, to release the Company, its parents, subsidiaries, affiliates, and related  entities, and any of their respective past or present officers, directors,  HB: 4882-8469-9701.3  

 

Michael 0. Meinolf  September 28, 2022  Page 3 of8  stockholders, managers, members, partners, agents, employees, predecessors in  interest, successors, and assigns ("Released Parties"), jointly and severally, from,  and agree not to bring any action, proceeding or suit against any of the Released  Parties regarding, any claims, causes of action, liabilities, damages, fees or  remunerations of any sort. This release includes, but is not limited to, giving up  any claims related in any way to your employment by the Company, the decision  to terminate your employment, termination of our employment relationship, and  wages and other remuneration, including, but not limited to, any current or former  bonus or other incentive plans or programs offered by the Company, including  any award under the Company's 2020 Incentive Compensation Plan (the "Plan").  This release of claims includes any claims, whether they are presently known or  unknown, or anticipated or unanticipated by you, and includes, but is not limited  to, all matters in law, in equity, in contract, or in tort, or pursuant to statute,  including damages, attorneys' fees, costs, and expenses, and, without limiting the  generality of the foregoing, all claims arising under Title VII of the Civil Rights  Act, the Americans with Disabilities Act, the Age Discrimination in Employment  Act ("ADEA''), the State and Federal Family and Medical Leave Acts, the  Worker Adjustment and Retraining Notification Act, the Equal Pay Act, the  Employee Retirement Income Security Act, the Civil Rights Act of 1991, the  Wisconsin Fair Employment Act, all as amended, or any other federal, state or  local law, statute or ordinance affecting your employment with or termination  from the Company.  This release of claims does not apply to or affect claims for benefits under  applicable worker's compensation laws, or any claim that controlling law clearly  states may not be released, including by settlement. This general release does not  apply to any vested rights that you may have in the Company's 401(k) plan or to  your continued participation in the Company's group health insurance plan  pursuant to COBRA following the Resignation Date. This release shall not limit  or restrict your right under the ADEA to challenge the validity of this Agreement  in a court of law and such challenge shall not be considered a breach of this  Agreement. Likewise, this release shall not prevent, restrict or in any way limit  your right to file a charge or complaint with a government agency (including,  without limitation, the Equal Employment Opportunity Commission ("EEOC"))  or participate in an investigation or proceeding initiated or conducted by a  government agency; provided, however this release of claims does prevent you  from making any personal recovery against the Compfilly or the Released Parties,  including the recovery of money damages, as a result of filing a charge or  complaint with a government agency against the Company and/or any of the  Released Parties;  Notwithstanding this Paragraph 3, nothing contained in this Agreement  shall impede your ability to report possible federal securities violations to the  Securities Exchange Commission ("SEC") and other governmental agencies (i)  HB: 4882-8469-9701.3  

 

Michael 0. Meinolf  September 28, 2022  Page 4 of8  without the Company's approval and (ii) without having to forfeit or forego any  resulting whistleblower awards;  (B) You acknowledge and agree that, as of the date on which you sign  this Agreement, there are no pending complaints, charges or lawsuits filed by you  against the Company or any of the Released Parties. You further acknowledge  and agree that you are the sole and lawful owner of all rights, title and interest in  and to all matters released under Paragraph 3(A), above, and that you have not  assigned or transferred, or purported to assign or transfer, any of such released  matters to any other person or entity;  (C) You acknowledge and agree that except to the extent explicitly  provided for in this Agreement, the Released Parties owe you no wages for work  performed, whether salary, overtime, bonuses, or commissions, or for accrued but  unused paid time off;  (D) By executing this Agreement, you acknowledge the following: (i)  you have accurately reported all use of paid time off in accordance with the  Company's paid time off policy; (ii) you have not suffered an unreported  workplace injury at the Company; and (iii) the end of your employment with the  Company shall be reported as a voluntary resignation;  (E) You agree that you will return to the Company on or before the  Resignation Date all of its property and all of the property of the Released Parties  which you possess or over which you have direct or indirect control, including,  but not limited to, all monies, records, files, credit cards, keys, cellular telephones,  customer lists and information, and electronically encoded information such as  computer drives, etc., all passwords and/or access codes to such Company  property and all copies of such Company property;  (F) You agree that, as a condition of your receipt of the Separation  Payment and until the first (1 st) anniversary of the Separation Date, you will make  yourselfreasonably available to provide assistance related to the transition of your  duties to the Company's designated successor, and that the Separation Payment  shall be the only compensation paid to you in connection therewith;  (G) You agree not to engage at any time in any form of conduct or  make any statements or representations or direct any other person or entity to  engage in any conduct or make any statements or representations, that disparage,  criticize or otherwise impair the reputation of the Company or any of the Released  Parties. If the Company's Human Resources Department receives a request for a  reference for you from a prospective employer, the Company will provide  verification of employment and such other information as it typically provides in  response to such reference requests. Nothing contained in this Paragraph 3(G)  shall preclude you from providing truthful information pursuant to subpoena or  other legal process. If you receive a subpoena or are subject to any legal  HB: 4882-8469-9701.3  

 

Michael 0. Meinolf  September 28, 2022  Page 5 of8  obligation, you agree to provide written notice to the Company within ten (10)  days and enclose a copy of the subpoena and any other document identifying the  legal obligation;  (H) With respect to any Retention Agreement entered into by you in  connection with any Restricted Stock Unit Award granted to you under the Plan,  you agree to comply with those terms which are intended to apply following the  end of your employment with the Company. Such terms include, but are not  limited to, obligations to maintain the confidentiality of Company information, to  return Company property, to not interfere with the Company's relationships with  its customers and employees, and to not engage in unfair competition with the  Company. You further acknowledge and agree that any and all unvested awards  granted to you under the Plan are and have been immediately forfeited as of the  Resignation Date;  (I) For twelve (12) months immediately after the Resignation Date,  you shall not directly or indirectly, whether on behalf of yourself or any third  party, induce any employee of the Company who: (x) currently holds the title of  Vice President, Senior Vice President or Executive Vice President; (y) currently is  subject to your supervision or control; or (z) with whom you had more than de  minimis direct contact, or about whom you learned Confidential Information  during your employment with the Company, to leave the employ of the Company;  (J) You acknowledge and affirm that by executing this Agreement,  you shall be deemed to have resigned from all positions with the Company as of  the Resignation Date without any further action required by you or the Company  to effect such resignation; provided, however, upon the Company's request, you  shall take all action deemed necessary by the Company to ensure and/or document  the effect of same; and  (K) You acknowledge and agree that should the Company incur any  liability by way of litigation, arbitration, settlement of claims, or similar dispute  resolution, in whole or in part due to any action or inaction by you in your  capacity as an employee of the Company, the Company shall have the right to  recover any and all consideration paid pursuant to this Agreement to the extent of  such liability (including attorneys' fees) incurred by the Company.  (4) Acceptance and Revocation Procedures. The Company wishes to ensure that you  voluntarily agree to the terms contained in this Agreement and do so only after you fully  understand them. Accordingly, the following procedures shall apply:  (A) You agree and acknowledge that you have read this Agreement,  understand its contents and may agree to the terms of this Agreement by signing  and dating it and returning the signed and dated Agreement, via mail, e-mail, hand  delivery or overnight delivery, so that it is received by Angie M. DeWitt,  Associated Bank, 433 Main Street, Green Bay, WI 54301 ,  J-J B: 4882-8469-9701 .3  

 

Michael 0. Meinolf  September 28, 2022  Page 6 of8  Angie.De Witt@AssociatedBank.com, on or before 5 :00 p.m. Central Time on the  22nd calendar day following your receipt of this Agreement;  (B) You are hereby advised in writing by the Company that you have  twenty-one (21) days to consider this Agreement, and you are further advised to  consult with an attorney before signing this Agreement and you acknowledge that  you have done so or had the opportunity to do so;  (C) You understand that this Agreement, at Paragraph 3(A) above,  includes a full and final general release, including a release of all claims under the  ADEA;  (D) You understand that you have seven (7) calendar days after signing  this Agreement, within which to revoke your acceptance of it ("Revocation  Period"). Such revocation 1will not be effective unless written notice of the  revocation is sent, via mail, e-mail, hand delivery or overnight delivery, so that it  is received Angie M. DeWitt, Associated Bank, 433 Main Street, Green Bay, WI  54301, Angie.Dewitt@AssociatedBank.com on or before 5:00 p.m. Central Time  on the first workday following the end of the Revocation Period;  (E) This Agreement will not be binding or enforceable unless you have  signed and delivered it as provided in Paragraph 4(A) above, and have chosen not  to exercise your revocation right, as described in Paragraph 4(D), above. If you  give timely notice of your intention to revoke your acceptance of the terms set  forth in this Agreement, it shall become null and void, and all rights and claims of  the parties which would have existed, but for the acceptance of this Agreement's  terms, shall be restored; and  (F) You represent and warrant to the Company that, in the event you  choose to accept the terms of this Agreement by signing it, the date appearing  above your name on the last page of this Agreement shall be the actual date on  which you have signed the Agreement. Notwithstanding your failure to execute  this Agreement or your revocation of it in accordance with Paragraph 4(D),  above, the terms of Paragraph l, above, will continue to apply.  (5) Miscellaneous. Should you accept the terms of this Agreement, its terms will be  governed by the following:  (A) This Agreement constitutes the complete understanding between  you and the Company concerning all matters affecting your employment with the  Company and the termination thereof. If you accept this Agreement, it supersedes  all prior agreements, understandings and practices concerning such matters,  including, but not limited to, any Company personnel documents, handbooks,  policies, incentive or bonus plans or programs, and any prior customs or practices  of the Company;  HB: 4882-8469-9701.3  

 

Michael 0. Meinolf  September 28, 2022  Page 7 of8  (B) You agree and acknowledge that this Agreement provides you with  benefits from the Company which, in their totality, are greater than those to which  you otherwise would be entitled;  (C) This Agreement can only be modified in writing by a document  that is signed by both parties;  (D) Nothing in the release contained in this Agreement should be  construed as an admission of wrongdoing or liability on the part of the Company.  The Company denies any liability to you, and the Company understands that you  deny any liability to the Company;  (E) If any court of competent jurisdiction determines that any of the  prov1s10ns of Paragraph 3 above, are invalid or unenforceable, then such  invalidity or unenforceability shall have no effect on the other provisions of  Paragraph 3, which shall remain valid, binding and enforceable and in full force  and effect;  (F) This Agreement and its interpretation shall be governed and  construed in accordance with the laws of the State of Wisconsin and shall be  binding upon the parties hereto and their respective successors and assigns. Any  dispute relating to the Agreement shall be brought before any court in Brown  County, Wis~onsin;  (G) In the event that you breach any provision of this Agreement, you  agree that the Company may suspend its further performance under this  Agreement, recover any damages as determined by a court of competent  jurisdiction suffered as a result of such breach, and recover from you any  reasonable attorneys' fees and costs it incurs as a result of your breach. In  addition, you agree that the Company may seek injunctive or other equitable relief  as a result of a breach by you of any provision of this Agreement. In no case,  however, shall the release provided in Paragraph 3(A), above, be revoked or  terminated if you accept this Agreement as provided in Paragraph 4(A), above,  and do not exercise your revocation rights before the Revocation Period described  in Paragraph 4(0), above, expires; and  (H) This Agreement may be executed by an electronic signature, which  shall be deemed to be the same as an original signature.  HB: 4882-8469-9701.3  

 

I  Michael 0. Meinolf  September 28, 2022  Page 8 of8  This Agreement is intended to resolve all outstanding issues between you and the  Company in a comprehensive manner. Although this Agreement contains language releasing the  Company from claims, the Company maintains, and you understand and acknowledge that the  Company maintains, that you have no such claims against the Company or any of the parties  covered by the release contained in Paragraph 3(A), above.  Should you have any questions, please feel free to contact me.  Very truly yours,  ASSOCIATED BANC-CORP  sy, ~m O,u)d(  Angie ~DeWitt, EVP, Chief Human  Resources Officer  I agree with and accept the terms contained in this Agreement and agree to be bound by them.  ~.Me,&f - Dated tmJd 'ff. day of Se,9fe""'& r, 2022.  HB: 4882-8469-9701 .3Document

[Form of]
2020 Equity Incentive Plan 
Non-Qualified Share Option Agreement

1.    Grant of Option.  This Agreement, including any country-specific addendum to this Agreement, evidences the grant by Cimpress plc, an Irish public limited company (the “Company”), on «GrantDate» to «Name» (the “Participant”) of an option to purchase, in whole or in part, a total of «Numbershares» ordinary shares of the Company, €0.01 nominal value per share (the “Shares”), at an exercise price of «Price» per Share, on the terms of this Agreement and the Company’s 2020 Equity Incentive Plan (the “Plan”). Unless earlier terminated, this option expires on «Finalexercisedate» (the “Expiration Date”).
    The option evidenced by this Agreement is not intended to be an incentive stock option as defined in Section 422 of the United States Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder (the “Code”). 
    Except as otherwise indicated by the context, the term “Participant,” as used in this option, is deemed to include any person who acquires the right to exercise this option validly under its terms. Capitalized terms that are used but not defined in this Agreement have the meanings assigned to such terms in the Plan.
2.    Vesting Schedule.  No portion of this option may be exercised until such portion has become exercisable (“vests”). Subject to the terms and conditions of this Agreement, this option vests in accordance with the following schedule, so long as the Participant is, and has been at all times since the date in Section 1 above on which this option was granted, an employee, officer or director of, or consultant or advisor to, the Company or any parent or subsidiary of the Company (an “Eligible Participant”), as “parent” and “subsidiary” are defined in Section 424(e) or (f) of the Code. The right of exercise is cumulative so that, to the extent the option is not exercised in any period to the maximum extent permissible, it continues to be exercisable, in whole or in part, with respect to all unexercised Shares for which it is vested until the earlier of the Expiration Date or the termination of this option under this Agreement or the Plan. This option vests as to:
•25% of the original number of Shares on «Vestdate», and 
•an additional 6.25% of the original number of Shares at the end of each successive three-month period following such date until the third anniversary of such date. 
3.    Exercise of Option.
    (a)    Form of Exercise.  Each election to exercise this option must be in writing in such form as the Company may accept and accompanied by payment in full using any of the following methods (unless determined otherwise by the Company’s Board of Directors or Compensation Committee in its sole discretion): 
(i)     in cash or by check, payable to the order of the Company;
(ii)     by an arrangement that is acceptable to the Company with a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price and any required tax withholding;
(iii)     by a “net exercise,” as a result of which the Participant would receive (A) the number of Shares underlying the portion of this option being exercised, less (B) such number of Shares as is equal to (x) the aggregate exercise price for the portion of this option being exercised divided by (y) the per share Fair Market Value of the Company’s ordinary shares on the date of exercise;

(iv)     by delivery of ordinary shares of the Company owned by the Participant valued at their Fair Market Value, so long as (A) such method of payment is then permitted under applicable law and (B) such ordinary shares are not subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements; or
(v)     by any combination of the above permitted forms of payment. 

The Participant may purchase fewer than the number of Shares covered hereby, but no partial exercise of this option may be for any fractional share.

    (b)    Continuous Relationship with the Company Required.  Except as otherwise provided in this Section 3, this option may not be exercised unless at the time of exercise the Participant is, and has been at all times since the date in Section 1 above on which the option was granted, an Eligible Participant. The Company has the exclusive discretion to determine when the Participant is no longer an Eligible Participant for purposes of this Agreement and the Plan, including but not limited to the exclusive discretion to determine whether the Participant remains an Eligible Participant during an unpaid leave of absence and when the Participant ceases to be an Eligible Participant during any such leave (regardless of whether the Participant’s employment or other relationship with the Company is considered terminated in the Company’s human resources systems or for other purposes). If the Participant is employed by a parent or subsidiary of the Company, any references in this Agreement to employment by or with the Company or termination of employment by or with the Company are instead deemed to refer to such parent or subsidiary.
    (c)    Termination of Relationship with the Company.  If the Participant ceases to be an Eligible Participant for any reason, except as provided in paragraphs (d) and (e) below, then the right to exercise this option terminates three months after such cessation (but in no event after the Expiration Date). This option is exercisable only to the extent that the Participant was entitled to exercise this option on the date of such cessation. However, if the Participant violates the non-competition or confidentiality provisions of any employment contract, confidentiality agreement or other agreement between the Participant and the Company or a parent or subsidiary of the Company, then the right to exercise this option terminates immediately upon such violation.
    (d)    Exercise Period Upon Death or Disability.  If the Participant dies or becomes disabled (within the meaning of Section 22(e)(3) of the Code) while they are an Eligible Participant, then the Participant (or in the case of death an authorized transferee) may exercise this option until the earlier of one year after (i) the date of the Participant’s death or disability and (ii) the Expiration Date, except that this option is exercisable only to the extent that it was exercisable by the Participant on the date of their death or disability.
    (e)    Discharge for Cause.  If the Company discharges the Participant for Cause (as defined in Section 12 below), then the right to exercise this option immediately terminates upon the effective date of such discharge. 
4.    Withholding.  
(a)    The Participant acknowledges that, regardless of any action taken by the Company or, if different, the Participant’s employer (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable or deemed legally applicable to Participant (“Tax-Related Items”) is and remains the Participant’s responsibility and may exceed the amount (if any) actually withheld by the Company or the Employer. The Participant further acknowledges that the Company and the Employer (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of this option; and (ii) do not commit to and are under no obligation to structure the terms of the grant or any aspect of this option to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result. Further, if the Participant is subject to Tax-Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.
(b)    In connection with any relevant taxable or tax withholding event, as applicable, the Participant will make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, the Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy their obligations (if any) with regard to all Tax-Related Items by one or a combination of the following:
(i)    withholding from the Participant’s wages or other cash compensation payable to the Participant by the Company, the Employer, or any parent or subsidiary; 
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(ii)    withholding from proceeds of the sale of Shares acquired upon exercise of this option either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent); 
(iii)    requiring the Participant to tender a cash payment to the Company or any parent or subsidiary in the amount of the Tax-Related Items; 
(iv)    withholding in Shares to be issued upon exercise of this option; and/or
(v)    any other method of withholding determined by the Company to be permitted under the Plan and, to the extent required by applicable law or the Plan, approved by the Board.
(c)    The Company may withhold for Tax-Related Items by considering statutory or other withholding rates, including maximum withholding rates applicable in the Participant’s jurisdiction(s). In the event of over-withholding, the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the equivalent amount in Shares) from the Company or the Employer; otherwise, the Participant may be able to seek a refund from the local tax authority. In the event of under-withholding, the Participant may be required to pay any additional Tax-Related Items directly to the applicable tax authority. If the obligation for Tax-Related Items is satisfied by withholding Shares, for tax purposes, the Participant is deemed to have been issued the full number of Shares subject to the exercised option, notwithstanding that a number of the Shares are held back solely for the purpose of paying the Tax-Related Items. The Company may refuse to honor the exercise of this option or refuse to issue or deliver the Shares or the proceeds of the sale of Shares, if the Participant fails to comply with their obligations in connection with the Tax-Related Items.
5.    Nontransferability of Option.  The Participant shall not sell, assign, transfer, pledge or otherwise encumber this option, either voluntarily or by operation of law, except (a) by will or the laws of descent and distribution, (b) pursuant to a qualified domestic relations order, or (c) if the Company consents, to or for the benefit of any immediate family member, family trust, family partnership or family limited liability company established solely for the benefit of the holder and/or an immediate family member of the holder. However, the Participant shall not transfer this option to any proposed transferee if, with respect to such proposed transferee, the Company would not be eligible to use a Form S-8 for the registration of the issuance and sale of the Shares subject to this option under the United States Securities Act of 1933, as amended. Unless this option is transferred in accordance with Sections 5(b) or (c) above, only the Participant may exercise this option during their lifetime. 
6.    No Right to Employment or Other Status.  This option shall not be construed as giving the Participant the right to continued employment or any other relationship with the Company or a parent or subsidiary of the Company. The Company and any parent or subsidiary of the Company expressly reserves the right to dismiss or otherwise terminate its relationship with the Participant free from any liability or claim under the Plan or this option, except as expressly provided in this option.
7.    No Rights as Shareholder.  The Participant has no rights as a shareholder with respect to any Shares issuable under this option until such Shares are issued to the Participant.
8.    Provisions of the Plan.  This option is subject to the provisions of the Plan, a copy of which is furnished to the Participant with this Agreement.
9.    Nature of the Grant.  By accepting this Agreement, the Participant acknowledges as follows: 

(a)    The Plan is established voluntarily by the Company, is discretionary in nature and may be modified, amended, suspended or terminated by the Company at any time, to the extent permitted by the Plan.

(b)    The Participant is voluntarily participating in the Plan. 

(c)    If the Participant ceases to be an Eligible Participant for any reason whatsoever (including without limitation unfair or objective dismissal, permanent disability, resignation or desistance) and whether or not in breach of applicable labor laws or the Participant’s employment agreement, if any, the Participant’s right to vesting or exercise of this option under this Agreement and 
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the Plan, if any, terminates as set forth in this Agreement and will not be extended by any notice period mandated under applicable law. The Participant acknowledges and accepts that this is an essential condition of this Agreement and expressly agrees to this condition. 

(d)    In consideration of the grant of this option, no claim or entitlement to compensation or damages arises from termination of the option, diminution in value of the Shares or termination of the Participant’s employment or other service relationship by the Company for any reason whatsoever and whether or not in breach of applicable labor laws or the Participant’s employment agreement, if any. The Participant irrevocably releases the Company from any such claim that may arise. If, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by accepting this Agreement, the Participant is deemed irrevocably to have waived their entitlement to pursue such claim.

(e)    The grant of this option is exceptional, voluntary and occasional and does not create any contractual or other right to receive future awards of options or benefits in lieu of options even if options have been awarded repeatedly in the past. All decisions with respect to future grants of options, if any, are at the Company’s sole discretion. 

(f)    This option and the underlying Shares are extraordinary items that do not constitute compensation of any kind for services of any kind rendered to the Company, and the option is outside the scope of the Participant’s employment or services contract, if any. The option, the Shares, and the income and value of the option and Shares are not part of normal or expected compensation or salary for any purpose (including but not limited to the calculation of any severance, resignation, termination, redundancy, dismissal or end of service payments; bonuses; long-service awards; pension, retirement or welfare benefits; or similar payments) and in no event should be considered as compensation for, or relating in any way to, past services for the Company.

(g)    The option, the Shares, and the income and value of the option and Shares are not intended to replace any pension rights or compensation.

(h)    Unless the parties otherwise agree, the option, the Shares, and the income and value of the same are not consideration for, or granted in connection with, any service the Participant may provide as a director of a subsidiary of the Company.

(i)    The future value of the Shares underlying this option is unknown and cannot be predicted with certainty. If the Participant exercises the option and receives Shares, the value of such Shares may increase or decrease in value, including below the exercise price. If the Shares subject to this option do not increase in value after the date on which this option was granted, this option will have no value. 

    (j)    The Participant acknowledges and agrees that neither the Company nor any of its affiliates or agents is liable for any foreign exchange rate fluctuation between the Participant’s local currency and the United States Dollar that may affect the value of the option or Shares or of any amounts due to the Participant pursuant to the exercise of the option or the subsequent sale of any Shares acquired upon vesting. 

10.    Imposition of Other Requirements.  The Company reserves the right to impose other requirements on the Participant’s participation in the Plan, on this option and on any Shares acquired under the Plan to the extent the Company determines it is necessary or advisable for legal or administrative reasons, except that with respect to awards that are subject to Section 409A of the Code, to the extent so permitted under Section 409A. Furthermore, the parties hereto agree to execute such further instruments and to take such further action as may reasonably be necessary to carry out the intent of this Agreement and the Plan.
11.    Data Privacy. 

(a)    The Participant is hereby informed that Cimpress plc will collect from the Participant through their employer (if not employed by Cimpress plc) certain personal information about the Participant, including the Participant’s personal data, such as their name, home address and telephone number, email address, date of birth, social security/insurance number, passport or other identification number, salary, nationality, job title, any ordinary shares or directorships held in the Company, details of all options or any other entitlement to ordinary shares awarded, canceled, exercised, vested, unvested or outstanding in the Participant’s favor (“Data”).
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(b)    The Participant is hereby informed and aware that Cimpress plc will collect and process the Data described above to perform (i) its contractual obligations and activities pursuant to this Agreement and the Plan, as well as (ii) those activities in conformity with applicable law and regulations that Cimpress plc as a publicly traded company at the NASDAQ Global Select Market must adhere to. Such data processing activities of the Participant’s Data by Cimpress plc will therefore be for purposes including but not limited to implementing, administering and managing the Plan. Cimpress plc will process the Participant’s Data as described in this Section 11 for the term of this Agreement and after its termination for a period as required by the Plan, by law or as necessary for the protection of the Company’s legitimate interests. 

(c)    The Participant will, in connection with the option and the acquisition, holding and/or transfer of ordinary shares or cash resulting from participation in the Plan, be provided with a brokerage account set up and managed by E*TRADE Financial Services, Inc. (including E*TRADE Securities LLC and any other involved affiliates or successors), a stock plan service provider located in the United States or such other stock plan service provider as the Company may select in the future (the “Service Provider”). As such, the Participant is hereby informed and aware that Cimpress plc will use and transfer (with assistance of its subsidiary Cimpress USA Incorporated as described below under Section 11(e)), in electronic or other form, the Participant’s Data to the Service Provider insofar such use and transfer to the Service Provider of the Participant’s Data is necessary for the set up and management of the individual stock brokerage accounts and further related contractual obligations that apply to Cimpress plc under this Agreement and the Plan.

(d)    Cimpress plc is, with regard to the implementation, administration and management of the Plan, assisted within the Cimpress group of companies by its subsidiary Cimpress USA Incorporated. The Participant is hereby informed and aware that their Data, including their personal data, can therefore be transferred by Cimpress plc/Company to Cimpress USA Incorporated (or any other affiliated company in the Cimpress-group providing global-equity related services to Cimpress plc/Company) if the transfer of the Participant’s Data is necessary because the legitimate interests of Cimpress plc/Company require that the Data be handled by a US-entity for purposes including but not limited to the global administration and management of the Plan and related Cimpress equity strategy, as well as for global human resources, finance and/or reporting purposes. Besides the foregoing processing purposes of its legitimate interests, any transfer by Cimpress plc/Company to Cimpress USA Incorporated (and/or any other involved affiliated company in the Cimpress-group) or any employee with responsibilities relating to securities, compliance or legal may also be necessary in order to ensure Cimpress plc’s compliance with applicable legal obligations (including, without limitation, disclosures required to be made to courts or governmental authorities and agencies, with respect to tax requirements and in response to subpoenas and other legal process or orders).

(e)     Cimpress plc will ensure, in accordance with Article 46 of the Regulation 2016/679 of the European Parliament and of the Council on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (“GDPR”), that any transfer of personal data from Participants employed by an employer with a corporate seat in the European Economic Area (“EEA”) or United Kingdom or Switzerland to data controllers or data processors – such as the Service Provider or Cimpress USA Incorporated – located outside the borders of the EEA, United Kingdom or Switzerland in a country that is viewed as not having an adequate level of protection (e.g., the United States) is subject to a prior agreement of those recipients with the EU standard contractual clauses for the transfer of personal data as included in the Commission Decisions of 27 December 2004 (2004/915/EC),5 February 2010 (2010/87/EC) or 4 June 2021 (2016/679/EC), in each case as updated, amended, replaced or superseded from time to time by the European Commission.

(f)    Cimpress plc will ensure in accordance with Article 9 of the GDPR that any sensitive data of the Participant (e.g., a passport or social security number) employed by an employer with a corporate seat in the EEA, United Kingdom or Switzerland will only be collected and further processed in accordance with the purposes as set out in this Agreement and the Plan, after obtaining the Participant’s prior explicit consent.

(g)    The Participant may, when entitled thereto under the GDPR, exercise their data subject rights by requesting the Company for access to their personal data (including a copy of the personal data that the Company holds about the Participant) or exercise their right to rectification, erasure, restriction, data portability and objection. The Participant can exercise most of the foregoing data subject rights 
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himself or herself by using the related functionalities in their local human resources system or by accessing their brokerage account with the Service Provider. Alternatively, the Participant can submit such a ‘data subject right’ request to their local HR representative or Cimpress’ LTI Plan Administrator. 

12.    Change in Control Events. 
(a)    Upon the occurrence of a Change in Control Event (as defined below), regardless of whether such event also constitutes a Reorganization Event (as defined in the Plan), except to the extent specifically otherwise provided in another agreement between the Company and the Participant, this option becomes vested and exercisable with respect to one-half of the number of Shares subject to the then unvested portion of this option if, on or before the first anniversary of the date of the consummation of the Change in Control Event, the Participant’s employment with the Company or the acquiring or succeeding entity is terminated for Good Reason (as defined below) by the Participant or is terminated without Cause (as defined below) by the Company or the acquiring or succeeding entity.
(b)    For purposes of this Agreement, “Change in Control Event” means: 
(i)    the acquisition by an individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the United States Securities Exchange Act of 1934) (a “Person”) of beneficial ownership of any capital shares or equity of the Company if, after such acquisition, such Person beneficially owns (within the meaning of Rule 13d-3 promulgated under such Securities Exchange Act) 50% or more of either (1) the then-outstanding ordinary shares of the Company (the “Outstanding Company Ordinary Shares”) or (2) the combined voting power of the then-outstanding securities of the Company entitled to vote generally in the election of the members of the Board of Directors (the “Outstanding Company Voting Securities”), except that for purposes of this subsection (i), the following acquisitions do not constitute a Change in Control Event: (A) any acquisition directly from the Company (excluding an acquisition pursuant to the exercise, conversion or exchange of any security exercisable for, convertible into or exchangeable for ordinary shares or voting securities of the Company, unless the Person exercising, converting or exchanging such security acquired such security directly from the Company or an underwriter or agent of the Company), (B) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any entity controlled by the Company, or (C) any acquisition by any entity pursuant to a Business Combination (as defined below) that complies with clauses (A) and (B) of subsection (ii) of this definition; or
(ii)     the consummation of a merger, consolidation, reorganization, recapitalization or share exchange involving the Company or a sale or other disposition of all or substantially all of the assets of the Company (a “Business Combination”), unless, immediately after such Business Combination, each of the following two conditions is satisfied: (A) all or substantially all of the individuals and entities who were the beneficial owners of the Outstanding Company Ordinary Shares and Outstanding Company Voting Securities immediately before such Business Combination beneficially own, directly or indirectly, more than 50% of the then-outstanding common equity interests and the combined voting power of the then-outstanding securities entitled to vote generally in the election of the members of the Board of Directors (or equivalent) of the resulting or acquiring entity in such Business Combination (which includes, without limitation, an entity that as a result of such transaction owns the Company or substantially all of the Company’s assets either directly or through one or more subsidiaries) (such resulting or acquiring entity is referred to as the “Acquiring Entity”) in substantially the same proportions as their ownership of the Outstanding Company Ordinary Shares and Outstanding Company Voting Securities immediately before such Business Combination and (B) no Person (excluding the Acquiring Entity or any employee benefit plan or related trust maintained or sponsored by the Company or by the Acquiring Entity) beneficially owns, directly or indirectly, 30% or more of the then-outstanding common equity interests of the Acquiring Entity, or of the combined voting power of the then-outstanding securities of such entity entitled to vote generally in the election of the members of the Board of Directors (or equivalent) (except to the extent that such ownership existed before the Business Combination).
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(c)    For purposes of this Agreement, “Cause” means any (i) willful failure by the Participant to perform their material responsibilities to the Company, which failure is not cured within 30 days of written notice to the Participant from the Company, or (ii) willful misconduct by the Participant that affects the business reputation of the Company. The Participant is considered to have been discharged for Cause if the Company determines, within 30 days after the Participant’s termination, that discharge for Cause was warranted.
(d)    For purposes of this Agreement, “Good Reason” means (i) any significant diminution in the Participant’s duties, authority or responsibilities from and after the Change in Control Event, (ii) any material reduction in base compensation payable to the Participant from and after the Change in Control Event, or (iii) the relocation of the place of business at which the Participant is principally located to a location that is greater than 50 miles from the current site without the Participant’s consent. However, no such event or condition constitutes Good Reason unless (A) the Participant gives the Company a written notice of termination for Good Reason not more than 90 days after the initial existence of the condition, (B) the grounds for termination (if susceptible to correction) are not corrected by the Company within 30 days of its receipt of such notice, and (C) the Participant’s termination of employment occurs within six months after the Company’s receipt of such notice.
13.    Language.  If the Participant receives this Agreement or any other document related to the Plan translated into a language other than English, the English version controls.
14.    Electronic Delivery.  The Company may, in its sole discretion, deliver any documents related to current or future participation in the Plan by electronic means. The Participant consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.
15.    Addendum.  This option and the Shares acquired under the Plan are subject to any country-specific terms and conditions set forth in any addendum to this Agreement or the Plan, and in the event of a conflict between this Agreement and any such addendum, the addendum governs. If the Participant relocates their residence to one of the countries included in any such addendum, the terms and conditions of such applicable addendum apply to the Participant to the extent the Company determines that the application of such terms and conditions is necessary or advisable in order to comply with local law or facilitate the administration of the Plan. Each such addendum, if any, constitutes part of this Agreement.
16.    Entire Agreement and Waiver.  This Agreement, the Plan, and any applicable country-specific addendum set forth the entire agreement of the parties hereto with respect to the subject matter contained herein and supersede all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, with respect to the subject matter contained herein. Without limiting the foregoing, the terms of any executive retention agreement or employment agreement do not apply to this option. The Participant acknowledges that a waiver by the Company of the breach of any provision of this Agreement shall not operate or be construed as a waiver of any other provision of this Agreement, or of any subsequent breach by the Participant or any other Participant.

PARTICIPANT’S ACCEPTANCE
By signing or electronically accepting this Agreement, the Participant agrees to the terms and conditions hereof. The Participant hereby acknowledges receipt of a copy of the Cimpress plc 2020 Equity Incentive Plan.

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