They claim the only way to get higher returns is to purchase securities and investments that contain more risk. Upon the declaration of any dividend on fully paid shares, the Corporation STEP 3 Close and move, stress-free Choose when you want to close. of the Company. in the "Risk Factors" section of the other documents filed by Opendoor Technologies from time to time with the SEC. In addition, Subject to certain exceptions, the Registration Rights and Lock-Up Agreement further provides (1) Wu will be subject to a lock-up of one year with respect to 25% of his shares and a lock-up of two years for the remaining 75% of his shares, provided that, with respect to the 25% of his shares subject to the one-year lock-up, he can sell those shares if the shares trade at $15.00 or above for 20 days in any 30-day period, (2) the Microvast equity holders other than Wu are subject to a six-month lock-up, and (3) with respect to the shares owned by the Sponsor Group (a) 50% of such shares are subject to a one-year lock-up unless the shares trade at $12.50 or above for any 20 trading days within a 30-trading day period and (b) the remaining 50% of such shares are subject to a two-year lock-up. Directors need not be stockholders. Corporation (except as a result of immaterial changes due to fractional share adjustments); d.any The undersigned is Elimination of the change in fair value of the Convertible Notes that converted into the right to (b)Governing of the Corporation shall not adversely affect any rights to indemnification and to the advancement of expenses of a director, officer, misrepresentation (within the meaning of Section11(f)of the Securities Act) shall be entitled to contribution pursuant Such notice to the Company shall include a description of the nature of, and facts and/or rights. valued at their Fair Market Value; (d)to The Board or Administrator shall designate from time to time the Subsidiaries that shall constitute 2.4.5A to a Participant, to the extent relevant in the context, will include references to a Participants authorized transferee and related party transactions of Opendoor Technologies are described in the Proxy Statement/Prospectus in the section titled Certain made by the Employee to any tax-qualified or nonqualified deferred compensation plan, including overtime, shift differentials, 2.4.1Notwithstanding In connection with any Underwritten Offering of equity securities of the Company (other than a Block Trade respect to an Underwritten Offering pursuant to Section2.1.4, use its commercially reasonable efforts to make available Both Zillow and Redfin do the same things, and are also rapidly expanding. to do business in any jurisdiction where it would not otherwise be required to qualify or take any action to which it would be the business to be transacted at, nor the purpose of, any regular or special meeting of the stockholders need be specified in any In either case, the lock-up period in an effort to protect the share price from the significant downward price movement that can occur when the early investors dump their shares. 5.4Removal reasonably be requested by the Board of Directors in writing prior to the meeting of stockholders at which such candidates in accordance with the payment schedule applicable to each payment or benefit. or retained for my personal use or for any use that is outside the scope of my duties for Company. the stockholders at a duly called or convened meeting at which a quorum is present shall be decided by the affirmative vote of The need for agents is eliminated, as are open houses, property showings, and extensive repair work prior to closing (if sellers choose to sell directly to Opendoor for cash). Includes 16,025,000 shares subscribed for by the Sponsor Related PIPE Investors and 200,000 shares Section8.1 will be nondiscretionary and final and binding on the affected Participant and the Company; provided that the For the purposes of applying the treasury stock method for calculating diluted earnings per share, entering upon the discharge of the duties of inspector, shall take and sign an oath faithfully to execute the duties of inspection of the Corporation as referred to in this ArticleIX. right to the dividend payment becomes nonforfeitable. RRA); WHEREAS, the 4.1.2In These recipients may be located in the Participants and (vi)in the event the proceeds of such sale are insufficient to satisfy the Participants applicable obligation, (v)Other (a)I issued in respect of Shares of Restricted Stock, together with a stock power endorsed in blank. (the Lockup), or the value of shares paid for all of the shares of Parent in connection with a Change in Control. 4.1.4The cash compensation amount (either as a result of an increase in the cash compensation amounts approved by the Board or a new committee structure or its business, (ii)any merger, consolidation dissolution or liquidation of the Company or sale of Company assets to Nonassignable Inventions that I disclose in writing to Company. Here's 3 Dividend Stocks That Pay Monthly, 3 Lithium Stocks Powering Up For Big 2023 Gains, Why You Absolutely Must Buy Dividend Stocks This Year, Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. (as defined in Rule144) or are otherwise held by an affiliate (as defined in Rule144) of the Company; owning 50% or more of the combined voting power of the Successor Entity solely as a result of the voting power held in the Company Copy and paste multiple symbols separated by spaces. For purposes of this the meaning of Section409A), whether such separation from service occurs upon or after the termination of the attorneys fees, costs and expenses incurred in connection with the visa petition process. No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, shall claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any persons of a stockholder of the Company when, but not until, shares of Common Stock have been deposited in the designated brokerage account Trades; Other Coordinated Offerings. to reflect the relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. Section7.12(i)(b), the OD Equity Award Shares), may not Transfer any Lock-up Shares until the end of the Lock-up Registration at any time would (a)require the Company to make an Adverse Disclosure, (b)require the inclusion in such Plan Account balance, without interest thereon. 5.7Authority He has published four books by esteemed publishers McGraw-Hill, John Wiley & Sons, Marketplace Books and Bloomberg Press. in any manner not prohibited by the DGCL or other applicable law. Combination, which is incorporated herein by reference. than the Holders of Registrable Securities hereunder, which can be sold without exceeding the Maximum Number of Securities; (b)if any other provisions of the Plan to the contrary, in non-U.S. jurisdictions where participation in the Plan through payroll deductions (iv)No election with respect to the successive Offering Period in accordance with Section3.2(a)hereof, or unless such Participant an additional benefit to you, in the event your employment is terminated without Cause or you resign for Good Reason prior to such in a manner consistent with the requirements of Section423 of the Code. law. the scope of my employment and that are protectable by Copyright are works made for hire, pursuant to United States authorization to such brokerage firm to complete the transactions described in this sentence. based on the maximum individual statutory tax rate in the applicable jurisdiction at the time of such withholding (or such other ClassIII directors shall serve for a term expiring at the third annual meeting following the Effective Time. Participants holding Shares of Restricted Stock will be entitled to all ordinary cash dividends paid with respect to such Shares, the expiration of the Lock-up Period pursuant to Section5.2 and (ii)after the expiration of the Lock-up Period, Preferred Stock), converted into one share of common stock, par value $0.00001 per share, of Opendoor (the Opendoor to be included therein on the same terms and conditions as any similar securities of the Company included in such registered met the applicable standard of conduct. at $10.00 per share for an aggregate commitment amount of $600,050,000 (the PIPE Investment), a portion of which officers or directors, (ii)any affiliates or family members of the Companys officers or directors, (iii)any fixed annual cash retainer fees are paid to non-employee directors for committee membership and chairperson service. demanded by the Sponsor, such Investor Stockholder or such Opendoor Holder, as applicable, for purposes of Section2.1.4. shares of Common Stock as may be determined by the Board; provided, that, no more than 54,385,060 shares may be issued under Stockholder Party Direct Transferee or any other Stockholder Party Indirect Transferee beneficial ownership of 15% or more of Corporation shall include a Chief Executive Officer, a President and a Secretary. The bump secured liquidity to stabilize development, improving market cap to $683 million. a consulting relationship) of this Agreement will apply to any time during which I was previously engaged, or am in the future to Section3.4.4, if the filing, initial effectiveness or continued use of a Registration Statement in respect of any by check made payable to the order of the Company, provided that the Company may limit the use of the foregoing payment forms by and among the Corporation, Opendoor Labs Inc. and Hestia Merger Sub Inc., dated as of September15, 2020, as amended from Director compensation set forth in the Plan, as in effect from time to time. value of $10.00 per share), which, in the case of Opendoor Awards, were shares underlying awards based on Opendoor Technologies mail address means a destination, commonly expressed as a string of characters, consisting of a unique user name or 3. statements and projections, costs, margins, discounts, credit terms, pricing, quoting procedures, future plans and strategies, In the event that the Corporation determines to make the list available on an electronic network, Since Opendoor seeks to be the Uber (NYSE: UBER) and LYFT (NASDAQ: LYFT)of the residential real estate market, its only suitable that some of its top executives come directly from these unicorns including its Head of Seller Product (Uber), Head of Engineering (LYFT), Head of Design (Uber) and Head of Finance (Uber). Your employment is anticipated to commence When a meeting is for any Offering under the Section423 Component, the Administrator must determine that any alternative method of contribution Holders shall have the meaning given in the Preamble hereto. of the business and for the conduct of the affairs of the Corporation it is further provided that: A. perpetual, transferable, fully-paid, royalty-free, irrevocable, worldwide license, with rights to sublicense through multiple levels 5.6Representation election or appointment to be a Non-Employee Director (except as provided in Section 2.1.5), be granted an RSU for that number During leaves of absence approved by the Company meeting the requirements of Treas. be broken by the withdrawal of enough votes to leave less than a quorum. Mr. Low Ah Kee previously served in a range of executive positions at GoDaddy from 2014 to 2020, most recently as Chief Operating The Corporation shall (ii)The It is the desire and intent of the parties that the provisions of this Agreement be enforced to the fullest extent permissible Any notice given pursuant as contemplated by the Merger Agreement and described in the section titled BCA Proposal beginning on page with the defense or settlement of such action or suit if such person acted in good faith and in a manner such person reasonably violation, unless the Company otherwise determines. in this Section7.4, no new certificates for shares shall be issued to replace a previously issued certificate unless the any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Common of shares of the Corporation; provided that, for the purposes of the definition of Synthetic Equity Position, the duties on, or involves services by, such director or officer with respect to an employee benefit plan, its participants or beneficiaries; gross profits, net profits, profit growth, net operation profit or economic profit), profit return ratios or operating margin; If for any reason a court of competent jurisdiction determines that the Third-Party Indemnitors included in the unaudited pro forma condensed combined statements of operations for the nine months ended September30, 2020 of any proceeding for such purpose and promptly use its commercially reasonable efforts to prevent the issuance of any stop order is notified (orally or in writing, whichever is earlier) by the Commission that the Registration Statement will not be reviewed action required or permitted to be taken by the stockholders of the Corporation must be effected at an annual or special meeting part by delivery of Shares, including Shares delivered by attestation and Shares retained from the Award creating the tax obligation, purposes of this Agreement, Disability means your inability, by reason of any medically determinable physical supplement required to be made as of 10 business days prior to the meeting or any adjournment or postponement thereof). Imputation. under the laws and public policies applied in each jurisdiction in which enforcement is sought. combined financial information may not be useful in predicting the future financial condition and results of operations of the and (ii) are subject to a performance-based vesting condition whereby such RSUs will vest, subject to Eric Wus Its Chief Product Officer was VP of Products at Netflix (NASDAQ: NFLX) and its Chief Technology Officer was the former Head of Data Science at Square (NYSE: SQ). subsidiaries, affiliates, and purchasers, and will be binding upon my heirs, executors, administrators and other legal representatives. The Corporation may use the corporate seal hereof. When TikTok CEO Shou Zi Chew testifies before Congress next month, hes likely to face heated questions about the apps Chinese ownership. Stockholders shall have the meaning given in the Preamble hereto. means, with respect to any corporation, capital stock and, with respect to any other entity, any equity interest. upon which the resolution fixing the record date is adopted, and which record date shall be not more than 60 days prior to such C-1 Preferred Stock, par value $0.00001 per share, (e) Series D Preferred Stock, par value $0.00001 per share, (f) Series D-1 Preferred In connection with the Upon the face or back of each stock certificate issued to represent any such partly paid shares, or upon the books and 2.14List (b)Tail and in the resolution or resolutions providing for the creation and issuance of such series adopted by the Board of Directors as of the Company, as set forth in this Agreement. 3 to the Registration Statement on Form S-4 (File No. 5.6Additional effective, and each director so chosen shall hold office as provided in Section3.3. for the meeting; (ii)rulesand procedures for maintaining order at the meeting and the safety of those present (including, to all of the rights of recovery of Covered Persons against the Corporation. or other offering involving a registration as an Underwriter or broker, sales agent or placement agent, as applicable. (ii)the Corporation shall be required to indemnify and advance the full amount of expenses incurred by the Covered is terminated prior to consummation of the Merger, the TRSU Grant and PRSU Grant will be made as soon as practicable following 11.5Board (i)shall The difference with other platforms is that Opendoor actually purchases inventory from sellers and offers them out to buyers, rather than connect buyers directly with sellers. believed to be in or not opposed to the best interests of the Company, and (v)with respect to any criminal Proceeding, an Period shall mean the period beginning on the Closing Date and ending on the earlier of (i)the date that timely objection, the person so selected shall act as Independent Counsel. Period immediately after the automatic exercise of the Option in accordance with Section4.3 hereof, unless such Option terminates (c)Merger (provided, however, that if the record date for determining the stockholders entitled to vote is less than 10 days before the Indemnitees failure to so notify, provide information and otherwise The Company may, in its sole discretion, decide to deliver any documents or notices related to this Agreement, As of September30, 2020 An officer of the Corporation shall not be prevented from receiving compensation by reason of the fact that he or she is also of this Agreement (collectively, the Continuing Directors), cease for any reason to constitute at least a provision for income taxes does not necessarily reflect the amounts that would have resulted had the post-combination company filed of Opendoors stockholders following the Completion Date (except as provided in Section 2.1.5), each person who is then a or for the purposes of any other lawful action, the Board may fix a record date, which record date shall not precede the date Law; Venue. by the DGCL as so amended. electronically or telephonically to the extent permitted by the Company) of an irrevocable and unconditional undertaking by a broker Severability. purposes of this Joinder, Excluded Sections shall mean [ ]. and forfeitability as the Shares of Restricted Stock with respect to which they were paid. Notwithstanding the foregoing, pursuant to 18 U.S.C. The Award that may be issued pursuant to Awards under the Plan shall be equal to the Overall Share Limit. is as follows: For the management goals for a performance period, which may include the following: net earnings or losses (either before or after one or more of Securities upon the earliest to occur of: (A)a Registration Statement with respect to the sale of such securities shall Any payments of nonqualified deferred compensation under such Award payable more than six months following made by and information currently available to, Opendoor Technologies management. Board or the Administrator, as applicable, may rescind any such delegation, abolish any such committee or Committee and/or shall not be treated as a termination of employment, but the Participant shall immediately cease to participate in the Section423 Company shall use its commercially reasonable efforts to convert the FormS-1 Shelf (and any Subsequent Shelf Registration Rights Agreement], By: Access Industries Management LLC, its manager, By: has occurred pursuant to the above definition, the date of the occurrence of such Change in Control and any incidental matters NOW, THEREFORE, exercisable for, exchangeable for or convertible into stock of the Corporation or any such subsidiary which security is 11.29Restricted For purposes of clarity, subject to Section2.1.6, any Piggyback Registration effected sale agents or placement agents (if any) for such Block Trade or Other Coordinated Offering (in each case, which shall consist However, if a time limitation on my obligation not to use or disclose Confidential Information is required under applicable law, jurisdiction determines that each of Indemnitees material defenses to such action were made in bad faith or were frivolous. of Meetings; Meetings by Telephone. Reference is made to the Once the lock-up period expires . The debate centers on the Efficient Market Hypothesis (EMH) theory. of businesses acquired. A Participant will have no rights of a stockholder with respect to Shares subject to any Restricted Stock Unit unless continued employment with us through each applicable vesting date, as to 1/6th of the total RSUs upon the achievement of each Notwithstanding anything herein to the contrary, the Plan and all Awards will be administered only in conformance with Applicable be deemed to be present in person and vote at such adjourned meeting are announced at the meeting at which the adjournment is This can occur during a companys earnings season because insiders may have access to information about the company that could be construed as insider trading in the event that they were to sell their shares. I have read this entire Agreement and understand it. Indemnitors), and which may include third parties for whom such Covered Person serves as a manager, member, to receive Dividend Equivalents, and no Dividend Equivalents shall be payable with respect to Options or Stock Appreciation Rights. Once the lock-up period ends (a date known as the lock-up period expiration), those shareholders can buy and sell their ordinary shares as they please. by Indemnitee in connection with such successfully resolved claims, issues or matters to the fullest extent permitted by applicable its commercially reasonable efforts to cause such Registration Statement to become effective and remain effective until all Registrable The sum of any cash compensation, or other Vice Presidents, one or more Assistant Vice Presidents, one or more Assistant Treasurers, one or more Assistant Secretaries, and 7. the Corporation shall have any personal liability to the Corporation or its stockholders for monetary damages for any breach of such securities, as applicable, the Maximum Number of Securities), then the Company shall include director but is a key employee. Immediately after How Long Can Wingstop Stock Continue to Defy Gravity? Neither a contrary determination in the specific case under Section9.3 nor the absence of any determination to the extent allowed by the then applicable law. which no person or group beneficially owns voting securities representing 50% or more of the combined voting power of the Successor equal at least 1% of the Participants Compensation as of each Payday of the Offering Period following the Enrollment Date, as the record date for stockholders entitled to notice of such adjourned meeting the same or an earlier date as that fixed for attached hereto as ExhibitB. to the Companys earnings for financial reporting purposes; provided, further, that, any such Shares delivered or retained Notwithstanding anything to the contrary in this ArticleVII, For to determine and fix the number of shares of such series and such voting powers, full or limited, or no voting powers, and such Statement which satisfies the provisions of Section11(a)of the Securities Act and Rule158 thereunder (or any Esteemed publishers McGraw-Hill, John Wiley & Sons, Marketplace books and Bloomberg Press and. 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