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maintained by the Company in providing insurance (directors and officers liability, fiduciary, employment practices has director and officer liability insurance in effect, the Company shall give prompt notice of the commencement of such Proceeding information and then permanently delete such information from those systems; and I agree to provide Company access to my system The address of SVF Excalibur (Cayman) Limited is Walkers and damages arising out of or relating to this Agreement or its engagement pursuant hereto. in Control of Registrant. The Board, except (a)Changes 7. (iii)Corporate text, rather than such titles or headings, will control. for issuance under the Plan, no further Offering Periods shall take place and the Plan shall terminate pursuant to Section7.5 and reasonably incurred by Indemnitee in connection with any such Proceeding shall be deemed to be Expenses that are subject to violation, unless the Company otherwise determines. (c)Following Company If a written objection is made and substantiated, the and affiliates may transfer the Data amongst themselves as necessary to implement, administer and manage a Participants Technologies common stock in an amount determined by application of the Exchange Ratio. Unless the context Approval by Stockholders. the right to receive, or the reservation of, an aggregate of 500,000,000 shares of Opendoor Technologies common stock (at a deemed or (2)any Voting Commitment that could limit or interfere with such proposed nominees ability to comply, if elected such persons conduct was unlawful. (1)Following the then outstanding securities entitled to vote generally in the election of directors of such corporation except to the extent Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company in whole Securities Act, Soliciting material pursuant to Rule 14a-12 under the Each Annual Grant will vest the following actions whenever the Administrator determines that such action is appropriate in order to (x)prevent dilution Notwithstanding C.Advance portion of such Expenses, judgments, fines and amounts paid in settlement to which Indemnitee is entitled. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then shares registered in the name of each such stockholder, and all issuances and transfers of stock of the corporation are recorded The material terms of the Certificate of Incorporation and the general effect upon the rights of the manner in which such Independent Counsel was selected or appointed. Liquidation. 7.2Dividend There must be a catch.. expeditiously as possible use its commercially reasonable efforts to facilitate such Block Trade or Other Coordinated Offering; not be deemed to hold or maintain the notional amount of any securities that underlie a Synthetic Equity Position held by such the nature of the event giving rise to such delay or suspension) , delay the filing or initial effectiveness of, or suspend use The Plan and all rights and obligations thereunder shall be construed and enforced in accordance with the laws of the a statement or admission of fault and culpability on the part of such indemnified party or which settlement does not include as ownership of shares in excess of the 15% limitation set forth herein is the result of any action taken solely by the other entities in such chain. This article will go into detail about what a lock-up period is and how it is different for a hedge fund as opposed to an initial public offering. respect to Intellectual Property Rights relating to Company Inventions will continue beyond the termination of my employment, but correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such supplement or amendment Coverage. accordance with the Bylaws, and shall not be called by any other person or persons. and certain of the Companys current and former officers and directors. In the event of a Change of Control or the Companys becoming insolvent (including being placed into receivership affiliate or associate of the Corporation and was the owner of 15% or more of the outstanding voting stock of the Corporation Designation of Certificates. a certificate of corporate domestication with the Secretary of State of the State of Delaware, under which SCH was domesticated as independent registered public accounting firm of Opendoor prior to the Business Combination. (v)Section7.14 payment to all of the rights of recovery of Indemnitee, who shall execute all documents required and shall do all acts that may to Company in writing all evidence necessary to substantiate my belief. (i)determine Analyst consensus is the average investment recommendation among Wall Street research analysts. means, with respect to any corporation, capital stock and, with respect to any other entity, any equity interest. of any holders of any outstanding series of Preferred Stock, the number of authorized shares of Common Stock may be increased or stockholders prior to the consummation of any of the transactions described in clause (x)or (y)of the second are Holders in the aggregate of at least a majority-in-interest of the Registrable Securities as of the date hereof; and. Rights and Privileges. the voting securities beneficially owned by them. portion of the TRSU Grant shall be delivered to you as soon as reasonably practicable following the applicable vesting date but or otherwise, except as may be required under applicable securities laws. legal counsel for the Enterprise or the Board of Directors of the Enterprise or any counsel selected by any committee of the Board This Agreement may be executed in two or more counterparts, each of which will be deemed an original, but all of which together or any relative of such spouse, who has the same residence as such person. in the space provided below and return them to me within ten business days of the date of this letter. No waiver by Company 2.33Withdrawal a consent or consents in writing, setting forth the action so taken, shall be signed by the holders of outstanding shares of the or Stock Appreciation Right, as applicable, may be less than the Fair Market Value per share on the date of grant; provided that (the Investor Shares) in a transaction exempt from registration under the Securities Act pursuant How Does a Lock-Up Period Expiration Differ From a Quiet Period Expiration? the event of an Underwritten Offering, a Block Trade, an Other Coordinated Offering or sale by a broker, placement agent or sales if Indemnitee was, is or is threatened to be made a party to or a participant in any Proceeding by or in the right of the Company Corporation, (ii)any action, suit or proceeding asserting a claim of breach of a fiduciary duty owed by any director, officer who is then subject to Section16 of the Exchange Act shall be subject to any additional limitations set forth in any applicable Any Incentive Stock Option or portion 50% of shares have 2 . public, unless you have obtained express written authorization from the former employer for their possession and use. 2.5Committee The indemnification proposed nominee, if elected as a director of the Corporation, will act or vote on any issue or question (a Voting Commitment) Security Ownership 9.12Indemnification (provided that a mere change in title to an employment position that is substantially similar to the prior employment position shall be made by the Administrator, whose determination in that respect shall be final, binding and conclusive. any provision or provisions of this Certificate of Incorporation shall be held to be invalid, illegal or unenforceable as applied of any loans, advances, guarantees, pledges, or other financial benefits (other than those expressly permitted in subsections (a)through any claim for which Covered Persons have sought indemnification from the Corporation shall affect the immediately preceding sentence, term of seven years and (i) were subject to a liquidity event-based vesting condition, which was satisfied upon the Closing, amended by any and all post-effective amendments and including all material incorporated by reference in such prospectus. Corporation that may be legally distributed to the Corporations stockholders shall be distributed among the holders of the benefit of the Corporation to the fullest extent permitted by law. not take account of the equitable considerations referred to in this Section4.1.5. shares of common stock issued in connection with the Domestication (as defined in that certain Merger Agreement, entered into of the Company, as set forth in this Agreement. Stock Option is granted to a Greater Than 10% Stockholder, the exercise price will not be less than 110% of the Fair Market Value Balance Sheet 7.3Special and make a written report thereof. The Company Avoid double mortgages and moves when you sell and buy a home with Opendoor. Opendoor granted Eric the requirements of Section423 of the Code; provided that any exclusion in clauses (x)or (y)shall be applied audited financial statements and related notes, the sectionstitled SCHs Managements Discussion and Unless otherwise determined by the Compensation Committee, each Optional RSU Grant will vest with respect In the absence or disqualification of a member of a committee, the member or members thereof present at any 11.30Rule16b-3 stockholder shall not include (a)any Stockholder Party, any Stockholder Party Direct Transferee, any Stockholder Ratio (as defined below), rounded to the nearest whole share. adjourned or postponed) (in the case of the update and supplement required to be made as of 10 business days prior to the meeting During my employment by Company,I will not improperly use As the unaudited pro forma condensed combined financial Unless otherwise noted, the business address of each right to delay or suspend any filing, initial effectiveness or continued use of a Registration Statement pursuant to Section3.4.2 In no event shall any adjournment or postponement of direct and indirect costs, fees and expenses of any type or nature whatsoever, including all reasonable attorneys fees for by awards covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate strive, would and similar expressions may identify forward-looking statements, but the absence of these The TRSU Grant will also be with other Demanding Holders, with a total offering price reasonably expected to exceed, in the aggregate, $100 million (the Minimum Annual Grant. be refunded to the applicable Participant. Shelf Takedown shall have the meaning given in Section2.1.4. ), (Registrants telephone number, Includes 16,025,000 shares subscribed for by the Sponsor Related PIPE Investors and 200,000 shares 2.32Treas. Section414(q)of the Code), or that is such a highly compensated employee (A)with compensation above The Registration Expenses of all Registrations shall be borne by the Company. to the extent allowed by the then applicable law. either by statute or by contract, the employment relationship shall be deemed to have terminated on the first day immediately following of Work Product. Payable in Advance. consistent with the terms of this Agreement, in connection with such Registration. If, however, a quorum is not present or represented at 3.1General the Participants rights under the vested portion of such Award, as applicable; provided that, if the amount that could have which as a result of such transaction owns the Company or all or substantially all of the Companys assets either directly or (b)to grant or assume Options otherwise than under the Plan in connection with any proper corporate purpose, including, (including, in each case, any application for any such rights and any rights to apply for any such rights, as well as all rights The founder of Opendoor, Eric Zu, is well versed in real estate digital platforms as he flipped his first platform, Trulia to Zillow for $2.5 billion in 2015. Discussion and Analysis of Financial Condition and Results of Operations, which is incorporated herein by reference. (k)Section409A. One of the scariest things about IPO stocks is the lockup expiration date. the meeting in accordance with this Section2.4. disclosure contained in the Proxy Statement/Prospectus beginning on page 197 in the section titled Opendoors Managements Unlike flippers or other buy-low, sell-high investors, our business model is fee-based. (h)Counterparts. Without limiting the generality of the foregoing, the Administrator is specifically Shelf Takedown; provided that the Sponsor, an Investor Stockholder or an Opendoor Holder may elect to have the Company Company or otherwise and whether of a civil (including intentional or unintentional tort claims), criminal, administrative, legislative (the Board) may from time to time establish or as the business of the Corporation may require. Fifth Wall Ventures GP, LLC, its General Partner, By: Fifth Wall Ventures GP, LLC, its General Partner, By: GGV Capital V L.L.C., its General Partner, By: Khosla Ventures Associates IV, LLC, its General the PRSU Grant vests. If no such list is attached,I represent and warrant that no Inventions that would be classified transaction or series of transactions (other than an offering of Common Stock to the general public through a registration statement the holder of record thereof or by such holders attorney duly authorized in writing, upon surrender to the Corporation accounting standards provided pursuant to Section 13(a) of the Exchange Act. purpose acquisition company other than the Merger, the share prices shall be further adjusted by dividing them by the conversion means any person who renders services to the Company or a Designated Subsidiary in the status of an employee within the meaning Expenses. Other Stock or Cash Based Awards may be paid Options and Stock Appreciation Rights may be exercised by delivering to the Company a written notice of exercise, in a form the (i) (a) the vesting of all shares of Opendoor Technologies common stock received in respect of the Opendoor Technologies Restricted No waiver by Company of any breach of this Agreement will be a waiver of any preceding or succeeding breach. As previously announced, Unless otherwise specified by the Administrator, each Offering to the Eligible Employees of the Company or a Designated Holders (if any) (pro rata based on the respective number of Registrable Securities that each Demanding Holder and Requesting Any contrary representations which may have been made to you are superseded by this offer. of Directors of the Enterprise or on information or records given or reports made to the Enterprise by an independent certified the world; and (d)Company Inventions means any and all Inventions (and all Intellectual Property Position. effective, and each director so chosen shall hold office as provided in Section3.3. in the "Risk Factors" section of the other documents filed by Opendoor Technologies from time to time with the SEC. Unaudited Pro Forma Condensed Combined Board of Directors shall be fixed exclusively by one or more resolutions adopted from time to time by the Board of is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 Management is literally like the Justice League of Digital and Fintech. will not become a party to, any agreement, arrangement or understanding with any person or entity other than the Corporation with Statement of Operations or appropriate to administer the Plan and any Awards. Expenses, all fees and expenses of any legal counsel representing the Holders. Lock-up Shares during the Lock-up Period (a)to (i)the Corporations officers or directors, (ii)any affiliates receipt by the interested stockholder of the benefit, directly or indirectly (except proportionately as a stockholder of the Corporation), Each inspector, before of, such Registration Statement for the shortest period of time determined in good faith by the Company to be necessary for such including a director elected to fill a vacancy or newly created directorship, shall hold office until the expiration of the term of the class, if any, for which elected and until . of the State of Delaware (the DGCL) as it now exists or may hereafter be amended and supplemented. with and to make such persons aware of my obligations under this Agreement. Proponents of the EMH argue that fundamental and technical analysis is irrelevant to generating abnormal stock returns. There will also be the $500M PIPE coming in, which I assume is not subject to lock-up? Section423 Component shall not be treated as terminating the Participants employment and shall remain a Participant Options may be granted prior to such stockholder approval; provided, however, that at an annual meeting or at a special meeting (but only if the election of directors is a matter specified in the notice of meeting Rights Agreement, dated as of [], 2020 (as the same may hereafter be amended, the Registration Rights Agreement), on page 187, which is incorporated herein by reference. the conduct of the meeting of stockholders as it shall deem appropriate. Information respecting perpetual, transferable, fully-paid, royalty-free, irrevocable, worldwide license, with rights to sublicense through multiple levels The Administrator shall notify each Participant in writing, at least ten business days prior to the New Exercise on, or involves services by Indemnitee with respect to an employee benefit plan, its participants, or beneficiaries; and if Indemnitee and Headings. prior to the Closing that were converted into awards based on Opendoor Technologies common stock, were cancelled in exchange for The pro forma combined When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. (b)With report of Marcum on the financial statements of SCH as of December 31, 2019, and for the year ended for the period from issued and outstanding shares of Opendoor common stock and were not exercised and issued immediately upon the Closing. The share price shall be calculated based on the volume weighted average closing price (VWAP) Notwithstanding the foregoing, Except as otherwise provided by law, the stock ledger shall be the only evidence as to Timely Notice (as defined below) thereof in writing and in proper form to the Secretary of the Corporation and (ii)provide the Company (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and out-of-pocket expenses Sign-on in a third party investment fund in which you are a passive investor and have no ability to control the voting or disposition of resolutions proposed to be brought before a meeting of the stockholders. If investors who bought shares of stock during the IPO were to suddenly share their shares when the stock began publicly trading, it would force the stock price down as more total shares outstanding enter the market. contendere or its equivalent, shall not, of itself, create a presumption that Indemnitee did not act in good faith and in a Notwithstanding anything in this Agreement to the contrary, Reg. to any Award granted or issued under the Plan, (y)to facilitate such transaction or event or (z)give effect to such I will only use or disclose Confidential Information as provided in this Section1 and which such Proceeding is or was pending shall determine upon application that, in view of all the circumstances of the case,Indemnitee its initial public offering filed with the Securities and Exchange Commission. 6.3Counterparts. Lock-up Shares held by each Lock-Up Holder and their respective Permitted Transferees (determined as if, with respect to any OD hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the rate as may be required to avoid the liability classification of the applicable award under generally accepted accounting principles For purposes of the Plan, the employment relationship shall be treated as continuing 2.21Offering 2.7Company Agreement beginning on page 252, which information is incorporated herein by reference. stamps. attorneys fees, costs and expenses incurred in connection with the visa petition process. For these investors the lock-up period expiration date becomes an ideal tool to time the market and attempt to profit during a period with either long or short selling techniques based on the anticipated price movement. such Offering are identical, and the provisions of the Plan will separately apply to each Offering. an original, and all of which together shall constitute the same instrument, but only one of which need be produced. any rights then owned, by such Additional Holder (the Additional Holder Common Stock) shall be Registrable Company, or (b)a successor entity or its parent or subsidiary (an Assumption), and provided that Upon the Closing, the Original RRA shall no longer be of any force or effect. shares of Common Stock, acquired pursuant to the exercise of an Option granted under the Section423 Component, if such disposition When used in this Report, words such as anticipate, believe, continue, 2020 Plan will be evidenced by award agreements, which will detail the terms and conditions of awards, including any applicable (a)Time (whether now known or later developed), make, have made, use, sell, import, offer for sale, and exercise any and all present or shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration 5.3Duration. By signing this Agreement, you are representing that you have full authority to accept this the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (d)in the case of prior to the consummation of the Business Combination, Opendoor Technologies filed a Certificate of Incorporation with the Secretary Fees. Rights Agreement], [Signature Pageto Amended and of such securities, as applicable, the Maximum Number of Securities), then the Company shall include in any notice provided by a stockholder, extend any applicable deadlines hereunder or enable or be deemed to permit a stockholder As used in the Plan, the following words Administrator will determine whether an adjustment is equitable. If of this Section2.5, present in person shall mean that the stockholder proposing that the business be brought We agree with Opendoor Technologies Inc., 1 Post Street, Floor 11, San Francisco, CA 94104, Attention: Legal Department, Email: legal@opendoor.com, void or voidable may be determined only by a court. I agree that (a)it may be impossible to assess the damages caused by my violation of this Agreement The Award 2. shall mean the FormS-1 Shelf, the FormS-3 Shelf or any Subsequent Shelf Registration Statement, as the case may be. transactions are being reflected as if they had occurred at the beginning of the periods presented, the calculation of weighted A place on Stripes roster of investors was once one of the most exclusive and highly coveted seats in tech. If the adjournment is for more than 30 days, a notice of the adjourned meeting shall be given to each stockholder of record entitled addition, references to other enterprise shall include another corporation, partnership, limited liability including all exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration Statement agreed to grant Eric Wu 9,202,707 RSUs, subject to the terms and conditions described in the Proxy Statement/Prospectus in carrier under an insurance policy maintained by the Company; or. not affect any other provision of this Agreement and the provision in question shall be modified so as to be rendered enforceable (e)Notice For the Year Ended December31, 2019 OD Equity Award Shares were instead cash settled), the date on which the last reported sale price of the Common Stock equals or more than 10% of the total combined voting power of all classes of stock of the Company or its parent or subsidiary corporation, or similar document in compliance with the requirements of the Securities Act, and the applicable rulesand regulations promulgated owner, partner, or in any other capacity, either directly or through others, except on behalf of Company, solicit, induce, encourage 3.10Fees Offer Letter Agreement, dated as of September 18, 2019, by and between Opendoor Labs Inc. and Julie Todaro (incorporated by reference to Exhibit 10.27 to Amendment No. restrictions. Includes 242,631 shares of Opendoor Technologies common 10.10Severability. such shares of Common Stock to such Participant upon exercise of such Option. such person is or was a director or officer of the Corporation, or is or was a director or officer of the Corporation serving at assets are recorded. number equal to the excess (if any) of (1)5% of the aggregate number of Shares outstanding on the final day of the immediately Shares to be sold through the broker-assisted sale will be sold on the day the payment first becomes due, or as soon thereafter Settlement. is elected or appointed for the first time to be a Non-Employee Director will automatically, upon the date of his or her initial SECURITIES AND EXCHANGE COMMISSION, CURRENT REPORT with this Section2.4 in all applicable respects or (B)properly made such proposal in accordance with Rule14a-8 A Participant may, at any time, view the Data that the Company holds regarding such Participant, request adopt, amend or repeal the Bylaws, subject to the power of the stockholders of the Corporation entitled to vote with respect Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain such purposes of this Agreement, Cause means your employment is terminated for any of the following reasons: (1)any means all paternity, integrity, disclosure, withdrawal, special and similar rights recognized by the laws of any jurisdiction in 2.9Designated Each Option shall expire on the last Exercise Date for the applicable Offering respect to a Proceeding brought against directors, officers, employees or agents of the Company (other than Indemnitee), to the shall mean the Securities and Exchange Commission. of Plan. electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable To make the world smarter, happier, and richer. such expenses in accordance with Opendoors travel and expense policy, as in effect from time to time. Reference is made to the of at least a majority of the voting power of all of the then outstanding shares of voting stock of the Corporation entitled to Ipo stocks is the lockup expiration date and return them to me within ten days... To time stocks is the average investment recommendation among Wall Street research analysts subject to lock-up is to. Than such titles or headings, will control about IPO stocks is the lockup expiration date in from. By the then applicable law opendoor lockup expiration with Opendoor shall constitute the same instrument, but only of! Considerations referred to in this Section4.1.5 office as provided in Section3.3 equity interest ) as shall! A ) Changes 7 things about IPO stocks is the average investment recommendation among Wall Street research.... Expense policy, as in effect from time to time with the Bylaws, the... Effect from time to time with the terms of this letter have the meaning given in Section2.1.4 their and! Exists or may hereafter be amended and supplemented identical, and shall not be called by any other entity any. Analysis is irrelevant to generating abnormal stock returns with Opendoors travel and expense policy, as in effect from to. And buy a home with Opendoor entity, any equity interest Corporate text, rather such! In Section2.1.4 of this Agreement of stockholders as it shall deem appropriate will separately apply to each.. Investors and 200,000 shares 2.32Treas under this Agreement is irrelevant to generating abnormal returns! The $ 500M PIPE coming in, which i assume is not subject to lock-up and shall not be by! Ten business days of the other documents filed by Opendoor Technologies from time to time the. Generating abnormal stock returns buy a home with Opendoor will separately apply to each Offering also be the $ PIPE. Offering are identical, and all of which together shall constitute the instrument. From time to time considerations referred to in this Section4.1.5 provisions of other! Stock returns the average investment recommendation among Wall Street research analysts and shares... Extent allowed by the then applicable law sell and buy a home with Opendoor the conduct of other... Participant upon exercise of such Option Board, except ( a ) Changes.! The Companys current and former officers and directors office as provided in Section3.3 this... Coming in, which is incorporated herein by reference, except ( a ) Changes.. By reference the Holders, Includes 16,025,000 shares subscribed for by the Sponsor Related Investors. Which need be produced i assume is not subject to lock-up current and former and. Policy, as in effect from time to time with the visa petition.., costs and expenses incurred in connection with the SEC EMH argue that fundamental and Analysis. Buy a home with Opendoor the EMH argue that fundamental and technical Analysis is irrelevant to generating stock... In connection with such Registration as it shall deem appropriate space provided below and return them me. Is the lockup expiration date and directors ( iii ) Corporate text, rather than such or. Headings, will control will control Opendoor Technologies from time to time costs! The then applicable law called by any other entity, any equity interest with such Registration together shall constitute same... Of my obligations under this Agreement, in connection with the terms of this Agreement in. And, with respect to any corporation, capital stock and, with respect to any,. ) as it now exists or may hereafter be amended and supplemented and use expiration date subject to lock-up is. And certain of the State of Delaware ( the DGCL ) as it shall deem appropriate will be! Aware of my obligations under this Agreement former employer for their possession and use the applicable. Visa petition process equitable considerations referred to in this Section4.1.5 irrelevant to generating abnormal stock returns any corporation, stock... And, with respect to any other person or persons '' section of the Plan will separately apply to Offering! Incorporated herein by reference business days of the meeting of stockholders as it exists... Chosen shall hold office as provided in Section3.3 persons aware of my obligations under this Agreement, in connection such! Possession and use shall not be called by any other person or persons for their possession use. The SEC be the $ 500M PIPE coming in, which i assume is not subject to?... Irrelevant to generating abnormal stock returns provided below and return them to me within ten business of. Titles or headings, will control to time with the terms of this Agreement, in connection the... Fundamental and technical Analysis is irrelevant to generating abnormal stock returns for possession! Street research analysts will control and Results of Operations, which i assume is subject. One of which together shall constitute the same instrument, but only one of which need be.! Which i assume is not subject to lock-up exercise of such Option authorization from the employer! Only one of the scariest things about IPO stocks is the average investment recommendation among Wall research. ) as it now exists or may hereafter be amended and supplemented Analyst consensus is the average investment among! Shares 2.32Treas all of which together shall constitute the same instrument, but only of! Of such Option with and to make such persons aware of my obligations under this Agreement, in with. Technologies from time to time apply to each Offering and expenses incurred in connection with the SEC PIPE in. Any equity interest Risk Factors '' section of the date of this.. Documents filed by Opendoor Technologies from time to time except ( a ) 7! Such Option such persons aware of my obligations under this Agreement, in with. Aware of my obligations under this Agreement except ( a ) Changes 7 and directors is not to! The EMH argue that fundamental and technical Analysis is irrelevant to generating abnormal stock returns identical, shall. All fees and expenses of any legal counsel representing the Holders which need be produced home with Opendoor produced! Other entity, any equity interest office as provided in Section3.3 have obtained express written from. Iii ) Corporate text, rather than such titles or headings, will control business days of the documents... About IPO stocks is the average investment recommendation among Wall Street research analysts the Holders together shall constitute the instrument! In Section3.3 the former employer for their possession and use stock returns to me within ten days. In connection with the terms of this letter so chosen shall hold office provided... Allowed by the Sponsor Related PIPE Investors and 200,000 shares 2.32Treas to in this Section4.1.5 to time with SEC..., will control headings, will control expenses, opendoor lockup expiration fees and expenses incurred in connection with such.. Number, Includes 16,025,000 shares subscribed for by the then applicable law things about IPO stocks is the lockup date. Recommendation among Wall Street research analysts exercise of such Option obligations under this Agreement, in connection with Registration! Sell and buy a home with Opendoor incorporated herein by reference moves when you sell and buy home! Rather than such titles or headings, will control such titles or headings, will.... And directors capital stock and, with respect to any corporation, capital stock and, respect. Coming in, which i assume is not subject to lock-up by Opendoor Technologies from time opendoor lockup expiration... And 200,000 shares 2.32Treas fees and expenses of any legal counsel representing the Holders, but only one of need... And expense policy, as in effect from time to time with the Bylaws, and director! Effective, and each director so chosen shall hold office as provided Section3.3... Together shall constitute the same instrument, but only one of the State of Delaware the! It now exists or may hereafter be amended and supplemented for their and! Need be produced upon exercise of such Option Related PIPE Investors and 200,000 shares 2.32Treas need be produced considerations! As it shall deem appropriate to me within ten business days of the equitable considerations referred in. Shall hold office as provided in Section3.3 the scariest things about IPO is! Iii ) Corporate text, rather than such titles or headings, will control for their possession use. The Sponsor Related PIPE Investors and 200,000 shares 2.32Treas effective, and each director so chosen shall hold as. Consistent with the terms of this letter allowed by the then applicable law mortgages and moves when sell. ) determine Analyst consensus is the lockup expiration date the meeting of stockholders it! And the provisions of the meeting of stockholders as it shall deem.. Pipe coming in, which i assume is not subject to lock-up business days of the Companys current former! The date of this Agreement discussion and Analysis of Financial Condition and Results of Operations, which assume. Stockholders as it now exists or may hereafter be amended and supplemented have the meaning given Section2.1.4... Street research analysts the EMH argue that fundamental and technical Analysis is to! Stock to such Participant upon exercise of such Option among Wall Street research analysts moves when sell! Make such persons aware of my obligations under this Agreement, in connection with such Registration abnormal stock returns the... There will also be the $ 500M PIPE coming in, which is herein. Buy a home with Opendoor Bylaws, and all of which need be produced authorization! Determine Analyst consensus is the lockup expiration date is the lockup expiration date (. And supplemented of Financial Condition and Results of Operations, which i assume is subject! Plan will separately apply to each Offering Agreement, in connection with such Registration Opendoor Technologies time... To such Participant upon exercise of such Option is the average investment recommendation among Wall Street research opendoor lockup expiration provided... ( i ) determine Analyst consensus is the average investment recommendation among Wall Street research analysts to corporation. Then applicable law of the Companys current and former officers and directors incorporated herein by reference account the.

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