Exhibit 4.8


 


FORM OF RESTRICTED STOCK AWARD AGREEMENT



PURSUANT TO THE 


FALCON MINERALS CORPORATION 


2018 LONG-TERM INCENTIVE PLAN 


 


* * * * * 


 


Participant: 


 


Grant Date: 


 


Number of Shares of 


Restricted Stock Granted: 


 


* * * * * 


 


THIS RESTRICTED STOCK AWARD AGREEMENT
(this “Agreement”), dated as of the Grant Date specified above, is entered into by and between Falcon Minerals
Corporation, a Delaware (the “Company”), and the Participant specified above, pursuant to the Falcon Minerals
Corporation 2018 Long-Term Incentive Plan, as in effect and as amended from time to time (the “Plan”), which
is administered by the Committee; and


 


WHEREAS, it has been determined
under the Plan that it would be in the best interests of the Company to grant the shares of Restricted Stock provided herein to
the Participant.


 


NOW, THEREFORE, in consideration
of the mutual covenants and promises hereinafter set forth and for other good and valuable consideration, and intending to be legally
bound hereby, the parties hereto hereby mutually covenant and agree as follows:


 


1.  Incorporation
By Reference; Plan Document Receipt. This Agreement is subject in all respects to the terms and provisions of the Plan
(including, without limitation, any amendments thereto adopted at any time and from time to time unless such amendments are expressly
intended not to apply to the Award provided hereunder), all of which terms and provisions are made a part of and incorporated in
this Agreement as if they were each expressly set forth herein. Any capitalized term not defined in this Agreement shall have the
same meaning as is ascribed thereto in the Plan. The Participant hereby acknowledges receipt of a true copy of the Plan and that
the Participant has read the Plan carefully and fully understands its content. In the event of any conflict between the terms of
this Agreement and the terms of the Plan, the terms of the Plan shall control.


 


2.  Grant
of Restricted Stock Award. The Company hereby grants to the Participant, as of the Grant Date specified above, the number
of shares of Restricted Stock specified above. Except as otherwise provided by the Plan, the Participant agrees and understands
that nothing contained in this Agreement provides, or is intended to provide, the Participant with any protection against potential
future dilution of the Participant’s interest in the Company for any reason, and no adjustments shall be made for dividends
in cash or other property, distributions or other rights in respect of any such shares, except as otherwise specifically provided
for in the Plan or this Agreement. Subject to Section 5 hereof, the Participant shall not have the rights of a stockholder
in respect of the shares underlying this Award until such shares are delivered to the Participant in accordance with Section 4
hereof.


 


3.  Vesting.


 


(a)  Subject
to the provisions of Sections 3(b) and 3(c) hereof, the Restricted Stock subject to this grant shall become unrestricted and vested
as follows, provided that the Participant has not incurred a Termination prior to each such vesting date:


 


	
        Vesting Date
	 	Number of Shares
	[●]	 	[●]


 






     


     


    

 


There shall be no proportionate or partial vesting in the periods
prior to each vesting date and all vesting shall occur only on the appropriate vesting date, subject to the Participant’s
continued service with the Company or any of its Subsidiaries on each applicable vesting date.


 


(b)  Committee
Discretion to Accelerate Vesting. Notwithstanding the foregoing, the Committee may, in its sole discretion, provide for accelerated
vesting of the Restricted Stock at any time and for any reason.


 


(c)  [Change
in Control.]


 


(d)  Forfeiture.
Subject to the Committee’s discretion to accelerate vesting hereunder,


 


(i) Except
as set forth in (ii) below, upon the Participant’s termination of employment with the Company (“Termination of Employment”)
or termination of service (“Termination of Service”) to the Company for any reason before all of the Restricted
Stock subject to this Grant vests, any unvested Restricted Stock shall automatically terminate and shall be forfeited as of the
date of the Participant’s Termination of Employment.


 


(ii) Upon
the Participant’s Termination of Employment or Termination of Service by reason of death or Disability, any unvested Restricted
Stock shall immediately vest.


 


4.  Period
of Restriction; Delivery of Unrestricted Shares. Until the Restricted Stock vests in accordance with Section 3, the Restricted
Stock shall bear a legend as described in Section 8.2(c) of the Plan. When shares of Restricted Stock awarded by this Agreement
become vested, the Participant shall be entitled to receive unrestricted shares and if the Participant’s stock certificates
contain legends restricting the transfer of such shares, the Participant shall be entitled to receive new stock certificates free
of such legends (except any legends requiring compliance with securities laws).


 


5.  Dividends
and Other Distributions; Voting. Participants holding Restricted Stock shall be entitled to receive all dividends and other
distributions paid with respect to such shares, provided that any such dividends or other distributions will be subject to the
same vesting requirements as the underlying Restricted Stock and may be paid at the time the Restricted Stock becomes vested pursuant
to Section 3 hereof. If any dividends or distributions are paid in shares, the shares shall be deposited with the Company
and shall be subject to the same restrictions on transferability and forfeitability as the Restricted Stock with respect to which
they were paid. The Participant may exercise full voting rights with respect to the Restricted Stock granted hereunder.


 


6.  Non-Transferability.
The shares of Restricted Stock, and any rights and interests with respect thereto, issued under this Agreement and the Plan shall
not, prior to vesting, be sold, exchanged, transferred, assigned or otherwise disposed of in any way by the Participant (or any
beneficiary of the Participant), other than by testamentary disposition by the Participant or the laws of descent and distribution.
Any attempt to sell, exchange, transfer, assign, pledge, encumber or otherwise dispose of or hypothecate in any way any of the
Restricted Stock, or the levy of any execution, attachment or similar legal process upon the Restricted Stock, contrary to the
terms and provisions of this Agreement and/or the Plan shall be null and void and without legal force or effect.


 


7.  Governing
Law. All questions concerning the construction, validity and interpretation of this Agreement shall be governed by, and
construed in accordance with, the laws of the State of Delaware, without regard to the choice of law principles thereof.


 


8.  Withholding
of Tax. The Company shall have the power and the right to deduct or withhold, or require the Participant to remit to the
Company, an amount sufficient to satisfy any federal, state, local and foreign taxes of any kind (including, but not limited to,
the Participant’s FICA and SDI obligations) which the Company, in its sole discretion, deems necessary to be withheld or
remitted to comply with the Code and/or any other applicable law, rule or regulation with respect to the Restricted Stock and,
if the Participant fails to do so, the Company may otherwise refuse to issue or transfer any shares of Common Stock otherwise required
to be issued pursuant to this Agreement. Any minimum statutorily required withholding obligation with regard to the Participant
may be satisfied by reducing the amount of cash or shares of Common Stock otherwise deliverable to the Participant hereunder.


 






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9.  Section 83(b).
If the Participant properly elects (as required by Section 83(b) of the Code) within 30 days after the issuance of the Restricted
Stock to include in gross income for federal income tax purposes in the year of issuance the Fair Market Value of such shares of
Restricted Stock, the Participant shall pay to the Company or make arrangements satisfactory to the Company to pay to the Company
upon such election, any federal, state or local taxes required to be withheld with respect to the Restricted Stock. If the Participant
shall fail to make such payment, the Company shall, to the extent permitted by law, have the right to deduct from any payment of
any kind otherwise due to the Participant any federal, state or local taxes of any kind required by law to be withheld with respect
to the Restricted Stock, as well as the rights set forth in Section 8 hereof. The Participant acknowledges that it is the
Participant’s sole responsibility, and not the Company’s, to file timely and properly the election under Section 83(b)
of the Code and any corresponding provisions of state tax laws if the Participant elects to make such election, and the Participant
agrees to timely provide the Company with a copy of any such election.


 


10.  Legend.
All certificates, if any, representing the Restricted Stock shall have endorsed thereon the legend set forth in Section 8.2(c)
of the Plan. Notwithstanding the foregoing, in no event shall the Company be obligated to deliver to the Participant a certificate
representing the Restricted Stock prior to the vesting dates set forth above.


 


11. Securities
Representations. The shares of Restricted Stock are being issued to the Participant and this Agreement is being made by
the Company in reliance upon the following express representations and warranties of the Participant. The Participant acknowledges,
represents and warrants that:


 


(a)  The
Participant has been advised that the Participant may be an “affiliate” within the meaning of Rule 144 under the Securities
Act and in this connection the Company is relying in part on the Participant’s representations set forth in this Section 11.


 


(b)  If
the Participant is deemed an affiliate within the meaning of Rule 144 of the Securities Act, the shares of Restricted Stock must
be held indefinitely unless an exemption from any applicable resale restrictions is available or the Company files an additional
registration statement (or a “re-offer prospectus”) with regard to the shares of Restricted Stock and the Company is
under no obligation to register the shares of Restricted Stock (or to file a “re-offer prospectus”).


 


(c)  If
the Participant is deemed an affiliate within the meaning of Rule 144 of the Securities Act, the Participant understands that (i) the
exemption from registration under Rule 144 will not be available unless (A) a public trading market then exists for the Common
Stock of the Company, (B) adequate information concerning the Company is then available to the public, and (C) other
terms and conditions of Rule 144 or any exemption therefrom are complied with, and (ii) any sale of the shares of vested Restricted
Stock hereunder may be made only in limited amounts in accordance with the terms and conditions of Rule 144 or any exemption therefrom.


 


12.  Entire
Agreement; Amendment. This Agreement, together with the Plan, contains the entire agreement between the parties hereto
with respect to the subject matter contained herein, and supersedes all prior agreements or prior understandings, whether written
or oral, between the parties relating to such subject matter. The Committee shall have the right, in its sole discretion, to modify
or amend this Agreement from time to time in accordance with and as provided in the Plan. This Agreement may also be modified or
amended by a writing signed by both the Company and the Participant. The Company shall give written notice to the Participant of
any such modification or amendment of this Agreement as soon as practicable after the adoption thereof.


 


13.  Notices.
Any notice hereunder by the Participant shall be given to the Company in writing and such notice shall be deemed duly given only
upon receipt thereof by the General Counsel of the Company. Any notice hereunder by the Company shall be given to the Participant
in writing and such notice shall be deemed duly given only upon receipt thereof at such address as the Participant may have on
file with the Company.


 






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14. Acceptance.
As required by Section 8.2 of the Plan, the Participant shall forfeit the Restricted Stock if the Participant does not execute
this Agreement within a period of sixty (60) days from the date that the Participant receives this Agreement.


 


15.  No
Right to Employment. Any questions as to whether and when there has been a Termination and the cause of such Termination
shall be determined in the sole discretion of the Committee. Nothing in this Agreement shall interfere with or limit in any way
the right of the Company, its Subsidiaries or Affiliates to terminate the Participant’s employment or service at any time,
for any reason and with or without Cause.


 


16.  Transfer
of Personal Data. The Participant authorizes, agrees and unambiguously consents to the transmission by the Company (or
any Subsidiary) of any personal data information related to the Restricted Stock awarded under this Agreement for legitimate business
purposes (including, without limitation, the administration of the Plan). This authorization and consent is freely given by the
Participant.


 


17.  Compliance
with Laws. The issuance of the Restricted Stock or unrestricted shares pursuant to this Agreement shall be subject to,
and shall comply with, any applicable requirements of any foreign and U.S. federal and state securities laws, rules and regulations
(including, without limitation, the provisions of the Securities Act, the Exchange Act and in each case any respective rules and
regulations promulgated thereunder) and any other law or regulation applicable thereto. The Company shall not be obligated to issue
the Restricted Stock or any of the shares pursuant to this Agreement if any such issuance would violate any such requirements.


 


18.  Section 409A.
Notwithstanding anything herein or in the Plan to the contrary, the shares of Restricted Stock are intended to be exempt from the
applicable requirements of Section 409A of the Code and shall be limited, construed and interpreted in accordance with such
intent.


 


19.  Binding
Agreement; Assignment. This Agreement shall inure to the benefit of, be binding upon, and be enforceable by the Company
and its successors and assigns. The Participant shall not assign (except in accordance with Section 6 hereof) any part of
this Agreement without the prior express written consent of the Company.


 


20.  Headings.
The titles and headings of the various sections of this Agreement have been inserted for convenience of reference only and shall
not be deemed to be a part of this Agreement.


 


21.  Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which shall
constitute one and the same instrument.


 


22.  Further
Assurances. Each party hereto shall do and perform (or shall cause to be done and performed) all such further acts and
shall execute and deliver all such other agreements, certificates, instruments and documents as either party hereto reasonably
may request in order to carry out the intent and accomplish the purposes of this Agreement and the Plan and the consummation of
the transactions contemplated thereunder.


 


23.  Severability.
The invalidity or unenforceability of any provisions of this Agreement in any jurisdiction shall not affect the validity, legality
or enforceability of the remainder of this Agreement in such jurisdiction or the validity, legality or enforceability of any provision
of this Agreement in any other jurisdiction, it being intended that all rights and obligations of the parties hereunder shall be
enforceable to the fullest extent permitted by law.


 


24.  Acquired
Rights. The Participant acknowledges and agrees that: (a) the Company may terminate or amend the Plan at any time;
(b) the award of Restricted Stock made under this Agreement is completely independent of any other award or grant and is made
at the sole discretion of the Company; (c) no past grants or awards (including, without limitation, the Restricted Stock awarded
hereunder) give the Participant any right to any grants or awards in the future whatsoever; and (d) any benefits granted under
this Agreement are not part of the Participant’s ordinary salary, and shall not be considered as part of such salary in the
event of severance, redundancy or resignation.


 


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IN WITNESS WHEREOF, the parties
hereto have executed this Agreement as of the date first written above.


 


	 	
        FALCON MINERALS CORPORATION

	 	 
	 	By:	                          
	 	Name:	 
	 	Title:	 
	 	 
	 	PARTICIPANT
	 	 
	 	 
	 	Name:	 


 






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