Non-Renewal. The Executive’s employment with the Company and the Period of Employment will terminate if the Period of Employment is not extended under [Section 1.3], with such termination to be effective at the end of the Period of Employment then in effect.

Non-Disparagement. The Executive shall not, during the Period of Employment or at any time thereafter, publish or communicate (other than statements made while employed by the Company or one of its affiliates in connection with carrying out the Executive's duties and responsibilities for the Company or any of its affiliates), in a manner intended to be public or that should reasonably be expected to become public (including, without limitation, through social media), disparaging or derogatory statements or opinions about the Company or any of its affiliates, stockholders, officers, employees, directors, or customers; provided that it shall not be a breach of this Section 4.6 for the Executive to testify truthfully in any judicial or administrative proceeding, to make statements or allegations in legal filings that are based on the Executive's reasonable belief and are not made in bad faith, or to make statements to a federal, state, or local government official, either directly or indirectly, and solely for the purpose of reporting or investigating a suspected violation of law.

Non-Transferability. No portion of the PSUs may be sold, assigned, transferred, encumbered, hypothecated or pledged by the Participant, other than to the Company as a result of forfeiture of the PSUs as provided herein.

Non-Transferability. Benefits under this Plan cannot be sold, transferred, assigned, pledged, attached or encumbered in any manner.

Non-Solicitation. You agree that during any period in which Restricted Stock Units (and any related dividend equivalents) remain payable, # you will not directly or indirectly solicit or recruit for employment or encourage to leave employment with [[Bank of America:Organization]] or its Subsidiaries, on your own behalf or on behalf of any other person or entity other than [[Bank of America:Organization]] or its Subsidiaries, any person who is an employee of [[Bank of America:Organization]] or its Subsidiaries and # to the extent permissible under applicable law, you will not, directly or indirectly, on your own behalf or on behalf of any other person or entity other than [[Bank of America:Organization]] or its Subsidiaries, solicit any client or customer of [[Bank of America:Organization]] or its Subsidiaries which you actively solicited or with whom you worked or otherwise had material contact in the course of your employment with [[Bank of America:Organization]] and its Subsidiaries. Notwithstanding anything in this Agreement to the contrary, if # you are a permanent resident of California or # you are a tax resident of California who is assigned to perform services for [[Bank of America:Organization]] or any Subsidiary from an office located in California, the solicitation restriction described in # above will not apply to this Award.

Until the date twelve (12) months after the termination of Executive’s employment with the Company for any reason, Executive agrees to not, either directly or indirectly, solicit, induce, attempt to hire, recruit, encourage, take away, or hire any employee of the Company (or any Affiliate of the Company) or any individual that has been an employee of the Company (or any Affiliate of the Company) during the 6-month period prior to Executive’s termination of employment hereunder or cause any such employee or former employee to leave his or her employment either for Executive or for any other entity or person.

At all times during the employment with the Company and for the Confidentiality Period under [Section 5.4] of this Agreement, neither party shall make (or cause to be made) to any Person any defamatory, disparaging or false statement about the other.

During the period of Employee’s employment hereunder and for the one (1) year thereafter (“Non-Competition Period”), the Employee shall not, within any county in which the Company or any subsidiary of the Company provides services, directly or indirectly own any interest in, manage, control, participate in, consult with, render services for, or in any manner engage in any business substantially similar to the Company’s current businesses. Investments in less than five percent (5%) of the outstanding securities of any class of a corporation subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended, shall not be prohibited by this Section 5.

Non-Disparagement. The Parties agree not to defame, disparage or criticize each other at any time.

Non-Competition. You acknowledge that as a result of your position at the Company, you have learned or developed, or will learn or develop, confidential information and that use or disclosure of such confidential information is likely to occur if you were to render advice or services to any Seritage Competitor (as defined below). For twelve (12) months, following the termination of your employment with the Company, you will not, directly or indirectly, aid, assist, participate in, consult with, render services for, accept a position with, become employed by, or otherwise enter into any relationship with (other than having a passive ownership interest in or being a customer of) any Seritage Competitor. For purposes of this Letter Agreement, "Seritage Competitor" means the companies listed on [Appendix A], each of which you acknowledge is a Seritage Competitor.