Proterra Inc
EX-10.27
<DOCUMENT>
<TYPE>EX-10.27
<SEQUENCE>3
<FILENAME>exhibit1027.htm
<DESCRIPTION>EX-10.27
<TEXT>
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<title>Document</title></head><body><div id="i53acb9367516493e9a8ab33daf9640d8_1"></div><div style="min-height:54pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:139%">EXHIBIT 10.27</font></div><div style="margin-top:3.9pt;padding-left:5pt;padding-right:378.35pt;text-align:justify"><font><br></font></div><div style="margin-top:3.9pt;padding-left:5pt;padding-right:378.35pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:210%">December 7, 2021</font></div><div style="padding-left:4.5pt;padding-right:378.35pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Gareth Joyce</font></div><div style="margin-top:11.75pt;padding-left:5pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Dear Gareth&#58;</font></div><div style="margin-top:11.95pt;padding-left:5pt;padding-right:5.85pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">We are pleased to extend this offer to serve as President and Chief Executive Officer of Proterra Inc (collectively with its subsidiaries, the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Company</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221; or &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Proterra</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221;), effective January 1, 2022 (&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Effective Date</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221;), subject to your election by the Board of Directors.</font></div><div style="margin-top:12.05pt;padding-left:5pt;padding-right:7.3pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:4.67pt;text-decoration:underline">Position and Duties</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">. As of the Effective Date, you will serve as the President and Chief Executive Officer (the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">CEO</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221;) of the Company and will report to the Company&#8217;s Board of Directors (the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Board</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221;). You will render such business and professional services in the performance of your duties, consistent with your position within the Company, as will reasonably be assigned to you by the Board.</font></div><div style="margin-top:12pt;padding-left:5pt;padding-right:5.8pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:4.67pt;text-decoration:underline">Board Membership</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">. During your service as Chief Executive Officer, you will serve as a member of the Board, subject to any required Board and&#47;or stockholder approval. Upon your resignation or removal as Chief Executive Officer, you will resign from the Board on the same date. Pursuant to the Board&#8217;s Director Resignation Policy, you will execute the irrevocable resignation letter attached hereto as </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Exhibit A</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> upon your appointment to the Board.</font></div><div style="margin-top:12pt;padding-left:5pt;padding-right:5.9pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:4.67pt;text-decoration:underline">Cash Compensation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">. The Company will pay you an annual base salary of $500,000 payable in accordance with the Company&#8217;s standard payroll practices and schedule. Your pay will be periodically reviewed as a part of the Company&#8217;s regular reviews of compensation. You will be eligible to participate in the Company&#8217;s short term cash incentive bonus plans at a target of 125% of your annual base salary.</font></div><div style="margin-top:12pt;padding-left:5pt;padding-right:5.85pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:4.67pt;text-decoration:underline">Employee Benefits</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">. You will continue to be eligible to participate in a number of Company-sponsored benefits to the extent that you comply with the eligibility requirements of each such benefit plan. The Company, in its sole discretion, may amend, suspend or terminate its employee benefits at any time, with or without notice. In addition, you will be entitled to paid vacation in accordance with the Company&#8217;s vacation policy, as in effect from time to time.</font></div><div style="margin-top:12.1pt;padding-left:5pt;padding-right:5.9pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">5.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:4.67pt;text-decoration:underline">Equity Compensation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">. Following commencement of your employment as CEO, you will also be eligible to receive additional equity awards as part of the Company&#8217;s long term incentive program, as may be determined by the Board or Compensation Committee, consistent with the Company&#8217;s compensation practices. We will recommend to the Board or Compensation Committee that you be eligible for an equity incentive award with four year ratable vesting, with the vesting commencement date being the Effective Date of your CEO appointment, valued at $3,000,000 at the time of grant in fiscal year 2022. Such grants are not part of your base compensation and the Board or Committee may change or discontinue the long term incentive program at any time.</font></div><div style="margin-top:12pt;padding-left:5pt;padding-right:6pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">7.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:4.67pt;text-decoration:underline">Termination Benefits</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">. You will be eligible to receive certain change in control and severance payments and benefits under the Severance Agreement approved by the Board and attached to this offer letter as </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline">Exhibit B</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"> </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">for as long as you serve as Chief Executive Officer.</font></div><div style="margin-top:11.95pt;padding-left:5pt;padding-right:6pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">8.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:4.67pt;text-decoration:underline">Confidentiality Agreement</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">. By signing this letter agreement, you reaffirm the terms and conditions of the Employee Invention Assignment and Confidentiality Agreements by and between you and the Company.</font></div><div style="margin-top:12.05pt;padding-left:5pt;padding-right:5.7pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">9.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:4.67pt;text-decoration:underline">No Conflicting Obligations</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">. You understand and agree that by signing this offer letter, you represent to the Company that your performance will not breach any other agreement to which you are a party and that you have not, and will not during the term of your employment with the Company, enter into any oral or written agreement in conflict with any of the provisions of this letter or the Company&#8217;s policies. You are not to bring with you to the Company, or use or disclose to any person associated with the Company, any confidential or proprietary information belonging to any former employer or other person or entity with respect to which you owe an obligation of confidentiality under any agreement or otherwise. The Company does not need and will not use such information and we will assist you in any way possible to preserve and protect the confidentiality of proprietary information belonging to third parties. Also, we expect you to abide by any obligations to refrain from soliciting any person employed by or otherwise associated with any former employer and suggest that you refrain from having any contact with such persons until such time as any non-solicitation obligation expires.</font></div><div style="height:54pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:54pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div style="margin-top:12.05pt;padding-left:5pt;padding-right:5.7pt;text-align:justify;text-indent:13.49pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">10.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:3.62pt;text-decoration:underline">Outside Activities</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">. While you render services to the Company, you agree that you will not engage in any other employment, consulting or other business activity without the written consent of the Company. In addition, while you render services to the Company, you will not assist any person or entity in competing with the Company, in preparing to compete with the Company or in hiring any employees or consultants of the Company.</font></div><div style="margin-top:12pt;padding-left:5pt;padding-right:6.15pt;text-align:justify;text-indent:13.49pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">11.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:3.62pt;text-decoration:underline">General Obligations</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">. As an employee, you will be expected to adhere to the Company&#8217;s standards of professionalism, loyalty, integrity, honesty, reliability and respect for all. You will also be expected to comply with the Company&#8217;s policies and procedures. The Company is an equal opportunity employer.</font></div><div style="margin-top:12pt;padding-left:5pt;padding-right:5.85pt;text-align:justify;text-indent:13.49pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">12.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:3.62pt;text-decoration:underline">At-Will Employment</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">. Your employment with the Company is for no specific period of time. Your employment with the Company will be on an &#8220;at will&#8221; basis, meaning that either you or the Company may terminate your employment at any time for any reason or no reason. The Company also reserves the right to modify or amend the terms of your employment at any time for any reason. Any contrary representations which may have been made to you are superseded by this offer letter. This is the full and complete agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company&#8217;s personnel policies and procedures, may change from time to time, the &#8220;at will&#8221; nature of your employment may only be changed in an express written agreement signed by you and the Company&#8217;s Board of Directors.</font></div><div style="margin-top:11.95pt;padding-left:5pt;padding-right:6.35pt;text-align:justify;text-indent:13.49pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">13.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%;padding-left:3.62pt;text-decoration:underline">Withholdings</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">. All forms of compensation paid to you as an employee of the Company shall be less all applicable withholdings.</font></div><div style="margin-top:11.95pt;padding-left:5pt;padding-right:6.35pt;text-align:justify;text-indent:13.49pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">14</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline">Section 409A</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">. It is intended that all of the severance benefits and other payments payable under this offer letter satisfy, to the greatest extent possible, the exemptions from the application of Section 409A of the Internal Revenue Code of 1986, as amended (the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Code</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221; and &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Section 409A</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221;) provided under Treasury Regulations 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9), and this offer letter will be construed to the greatest extent possible as consistent with those provisions, and to the extent not so exempt, this offer letter (and any definitions hereunder) will be construed in a manner that complies with Section 409A. All payments and benefits that are payable upon a termination of</font></div><div style="margin-top:0.05pt;padding-left:5pt;padding-right:47.55pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">employment hereunder shall be paid or provided only upon your &#8220;separation from service&#8221; from the Company (within the meaning of Section 409A).</font></div><div style="margin-top:12pt;padding-left:5pt;padding-right:5.85pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">This offer letter supersedes and replaces any prior understandings or agreements, whether oral, written or implied, between you and the Company regarding the matters described in this letter. This letter will be governed by the laws of South Carolina, without regard to its conflict of laws provisions.</font></div><div style="margin-top:0.1pt"><font><br></font></div><div style="margin-top:4.4pt;padding-left:257.05pt;padding-right:128.15pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:210%">Very truly yours, PROTERRA INC</font></div><div style="padding-left:257.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:114%">On behalf of the Board of Directors</font></div><div style="padding-left:262.95pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:43.005%"><tr><td style="width:1.0%"></td><td style="width:22.429%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:75.371%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:125%;text-decoration:underline">&#47;s&#47; John J. Allen</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:125%">By&#58;</font></td><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:125%">John J. Allen</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Title&#58;</font></td><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Chief Executive Officer</font></td></tr></table></div><div style="padding-left:257.05pt"><font><br></font></div><div style="height:54pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:54pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div style="padding-left:257.05pt"><font><br></font></div><div><font><br></font></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:32.327%"><div style="padding-left:5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">ACCEPTED AND AGREED&#58;</font></div><div style="margin-top:0.3pt;padding-left:5pt"><font><br></font></div></div><div style="display:inline-block;max-width:1.507%;min-width:1.007%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:32.327%"><div style="padding-left:5pt"><font><br></font></div><div style="margin-top:7.55pt;padding-left:5pt"><font><br></font></div></div><div style="display:inline-block;max-width:1.507%;min-width:1.007%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:32.332%"></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:43.154%"><tr><td style="width:1.0%"></td><td style="width:22.348%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:75.452%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:125%;text-decoration:underline">&#47;s&#47; Gareth T. Joyce</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:125%">By&#58;</font></td><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Gareth T. Joyce</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Date&#58;</font></td><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:125%">12&#47;7&#47;2021</font></td></tr></table></div><div style="margin-bottom:0.05pt;margin-top:0.1pt"><font><br></font></div><div style="padding-left:5pt"><font><br></font></div><div style="margin-top:3.9pt;padding-left:0.05pt;padding-right:299.15pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exhibit A&#58; Director Resignation </font></div><div style="padding-left:0.05pt;padding-right:299.15pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exhibit B&#58; Severance Agreement</font></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:32.123%"><div><font><br></font></div><div><font><br></font></div></div><div style="display:inline-block;max-width:1.815%;min-width:1.315%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:32.123%"></div><div style="display:inline-block;max-width:1.815%;min-width:1.315%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:32.124%"></div></div><div style="height:54pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i53acb9367516493e9a8ab33daf9640d8_7"></div><hr style="page-break-after:always"><div style="min-height:66.96pt;width:100%"><div><font><br></font></div></div><div style="margin-top:3.9pt;padding-left:181.37pt;padding-right:181.37pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">EXHIBIT A</font></div><div style="margin-top:12.05pt;padding-left:68.82pt;padding-right:68.82pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Director Resignation</font></div><div style="margin-top:11.95pt;padding-left:68.95pt;padding-right:68.95pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">(Pursuant to Director Resignation Policy Adopted June 14, 2021)</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="margin-top:4.4pt;padding-left:5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Chairperson of the Board</font></div><div style="padding-left:5pt;padding-right:135.75pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chairperson of the Nominating and ESG Committee Proterra Inc 1815 Rollins Road</font></div><div style="margin-top:0.1pt;padding-left:5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Burlingame, CA 94010</font></div><div><font><br></font></div><div style="margin-top:10.85pt;padding-left:5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Dear Chairpersons&#58;</font></div><div style="margin-top:11.95pt;padding-left:5pt;padding-right:6.05pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">In accordance with Proterra&#8217;s Director Resignation Policy, I hereby tender my resignation as a member of the board of directors (the &#34;Board&#34;) of Proterra Inc (the &#34;Company&#34;), effective upon acceptance by the Board.</font></div><div style="margin-top:12pt;padding-left:5pt;padding-right:14.6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">My resignation is a result of compliance with the Director Resignation Policy and not as a result of any disagreement between myself and the Company, its management, the Board or any committee of the Board.</font></div><div style="margin-top:12.05pt;padding-left:5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Sincerely,</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%;text-decoration:underline">&#47;s&#47; Gareth T. Joyce</font></div><div style="margin-top:0.4pt"><font><br></font></div><div style="padding-left:5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gareth T. Joyce</font></div><div style="margin-top:12.05pt;padding-left:181.37pt;padding-right:181.37pt;text-align:center"><font><br></font></div><div style="height:13.68pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
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