55 Green Street
San Francisco, CA 94111
Eduardo Iniguez
February 26, 2024
Dear Eduardo,
We’re pleased to extend an offer of employment to you for the position of Chief Executive Officer of Getaround Operations LLC, a Delaware limited liability company (the “Company”), a wholly-owned subsidiary of Getaround, Inc. (the “Parent”). This offer of employment is conditioned on your satisfactory completion of certain requirements, as more fully explained in this letter. Your employment is subject to the terms and conditions set forth in this letter.
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You represent and warrant that the Options are a material inducement for you to accept this offer of employment, as described in Section 303A.08 of the NYSE Listed Company Manual, and you acknowledge that the material terms of the Options will be disclosed by the Company in a press release, as required under such provision.
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Notwithstanding any other provision of this offer letter, if any payment or benefit provided to you in connection with termination of employment is determined to constitute “nonqualified deferred compensation” within the meaning of Section 409A and you are determined to be a “specified employee” as defined in Section 409A(a)(2)(b)(i), then such payment or benefit will not be paid until the first payroll date to occur following the six-month anniversary of your termination date (the “Specified Employee Payment Date”) or, if earlier, on the date of your death. The aggregate of any payments that would otherwise have been paid before the Specified Employee Payment Date will be paid to you in a lump sum on the Specified Employee Payment Date and thereafter, any remaining payments will be paid without delay in accordance with their original schedule. In addition, notwithstanding any other provision herein to the contrary, to the extent that any reimbursements or in-kind benefits under this offer letter or otherwise constitute non-exempt “nonqualified deferred compensation” within the meaning of Section 409A, then any such payments, reimbursements and/or benefits (i) will be paid or reimbursed promptly but no later than December 31st of the calendar year following the year in which the expense was incurred by you, (ii) will not in any way affect the expenses eligible for reimbursement or in-kind benefits to be provided in any other calendar year, and (iii) will not be subject to liquidation or exchange for another benefit.
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We are excited at the prospect of you joining our team. If you have any questions about the above details, please call me immediately. If you wish to accept this position, please sign below and return this letter to me within 3 business days. This offer is open for you to accept until February 26, 2024 at 7 pm, at which time it will be deemed to be withdrawn.
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I look forward to hearing from you.
Yours sincerely,
/s/ JASON MUDRICK
Jason Mudrick
Director, Getaround, Inc.
On behalf of Getaround Operations LLC
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Acceptance of Offer
I have read and understood, and I accept all the terms of the offer of employment as set forth in the foregoing letter. I have not relied on any agreements or representations, express or implied, that are not set forth expressly in the foregoing letter, and this letter supersedes all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to the subject matter of this letter.
EDUARDO INIGUEZ
/s/ EDUARDO INIGUEZ
Date: February 26, 20224
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