Company: ARAI
Filing Date: 2025-07-15
Form Type: S-1/A
Source: 0001641172-25-019572
Chunk: 131

Company: Arrive AI Inc.
Filing Date: 2025-07-15
Form: S-1/A
Chunk 131
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 milestones: 50% when the valuation sustains $600 million for
six months and the remaining 50% at $1 billion for six months, with time-based vesting requirements. In the event of a change of control,
50% of all options vest immediately under a “single trigger”, with the remaining 50% vesting under “double trigger.”
Mr. Pepmeier will also be eligible to receive certain employee benefits. The employment agreement has been filed as an exhibit to our
Direct Listing Registration Statement.

| 56 |

Brandon Pargoe

As detailed elsewhere in this prospectus, on
December 5, 2023, the Company acquired certain assets of AirBox Technologies (“AirBox”), in an all-stock transaction. The
acquisition included AirBox’s patent portfolio and other tangible assets, in addition, AirBox’s CEO Brandon Pargoe joined
the Arrive team in a role of product line lead (Airbox), as an independent contractor. On November 29, 2023, the Company entered into
an independent contractor agreement with Mr. Pargoe as its Vice President of Product Operations, effective December 1, 2023 (“Pargoe
Agreement”). The Company agreed to pay Mr. Pargoe a base salary of $5,000 per month for his service as the Product Line Lead for
a term of two years and the Company has the option to extend the Pargoe Agreement in November 2025. Either the Company and Mr. Pargoe
may terminate the Pargoe Agreement, with or without reason at any time. Mr. Pargoe agreed not to utilize or exploit the Company’s
confidential information made available to him during his service after the termination of the Pargoe Agreement.

Stock Equity Incentive Plan

During Fiscal Year 2023, the board of directors
adopted the Plan. Below is a summary of the Plan, which is qualified in its entirety
by the full text of the Plan, attached hereto as Exhibit 10.8 to our Direct Listing Registration Statement, incorporated herein by reference.

Overview and Purpose

The purpose of the Plan is to attract, retain
and provide incentives to key management employees and non-employee directors of, and non-employee consultants to, the Company and its
Affiliates, and to align the interests of such employees, non-employee directors and non-employee consultants with those of the Company’s
shareholders. Accordingly, the Plan provides for the granting of