In connection with his appointment to President of Proterra Operating Co., Mr. Joyce will receive a salary increase from $340,000 to $450,000 in base salary, and his bonus target under the Company's Key Employee Incentive Plan will increase from 50% to 75% of his base salary. The Board also intends to make Mr. Joyce an equity award under the Company's 2021 Equity Incentive Plan of $597,260 in value on the date of grant, with a four year annual ratable vesting period. Prior to his appointment as President of Proterra Operating Co., Mr. Joyce served as the President of Proterra Powered and Energy, a business unit of Proterra Operating Co., since November 2020. Mr.