EX-10.2





 Exhibit 10.2 

DIRECTOR RSU FORM 
 ARKO
CORP. 
 2020 INCENTIVE COMPENSATION PLAN 
  

 
 RESTRICTED
STOCK UNIT AGREEMENT 
 FOR 

[NAME] 
 1. Grant of
Restricted Stock Units. ARKO CORP. (the “Company”) hereby grants, as of [______________,] 2021 (the “Grant Date”), to [NAME] (the “Recipient”), the right to receive, at
the times specified in Section 2 hereof, [#] Shares of the Company (collectively the “RSUs”). The RSUs shall be subject to the terms, provisions and restrictions set forth in this
Agreement and the Arko Corp. 2020 Incentive Compensation Plan, as may be amended from time to time (the “Plan”), which is incorporated herein for all purposes. As a condition to entering into this Agreement, and to the
issuance of any Shares, the Recipient agrees to be bound by all of the terms and conditions herein and in the Plan. Unless otherwise provided herein, terms used herein that are defined in the Plan and not defined herein shall have the meanings
attributable thereto in the Plan. 
 2. Vesting of RSUs. The RSUs granted hereunder shall be immediately fully vested as of the
Grant Date. 
 3. Settlement of the RSUs. The Company shall deliver to the Recipient the number of Shares corresponding to the
RSUs granted hereunder as soon as practicable on or after the earlier of (a) the date on which the Recipient’s Continuous Service with the Company and its Related Entities is terminated for any reason or (b) a Change in Control
of the Company, provided that the Change in Control is deemed to also be a change in control or a change in effective control of the Company under Section 409A of the Code and the treasury regulations promulgated thereunder (in each case, the
“Settlement Date”). 
 4. Rights with Respect to RSUs. Except as otherwise provided in this
Section 4 or the Plan, the Recipient shall not have any rights, benefits or entitlements with respect to the Shares corresponding to the RSUs unless and until those Shares are delivered to the Recipient in settlement
thereof in accordance with Section 3 hereof. On or after delivery, the Recipient shall have, with respect to the Shares delivered, all of the rights of a holder of Shares granted pursuant to the articles of incorporation
and other governing instruments of the Company, or as otherwise available at law. 
 5. Transferability. The RSUs are not
transferable unless and until the Shares have been delivered to the Recipient in settlement of the RSUs in accordance with this Agreement, other than by will or under the applicable laws of descent and distribution. Except as otherwise permitted
pursuant to the first sentence of this Section 6, any attempt to effect a Transfer of any RSUs prior to the date on which the Shares have been delivered to the Recipient in settlement of the RSUs shall be void ab
initio. For purposes of this Agreement, “Transfer” shall mean any sale, transfer, encumbrance, gift, donation, assignment, pledge, hypothecation, or other disposition, whether similar or dissimilar to those previously
enumerated, whether voluntary or involuntary, and including, but not limited to, any disposition by operation of law, by court order, by judicial process, or by foreclosure, levy or attachment. 












 6. Tax Matters. The tax consequences to the Recipient (including without
limitation federal, state, local and foreign income tax consequences) with respect to the RSUs (including without limitation the grant, vesting and/or delivery thereof) are the sole responsibility of the Recipient. The Recipient shall consult with
his or her own personal accountant(s) and/or tax advisor(s) regarding these matters and the Recipient’s filing, withholding and payment (or tax liability) obligations. 

7. Amendment, Modification & Assignment. This Agreement may only be modified or amended in a
writing signed by the parties hereto. No promises, assurances, commitments, agreements, undertakings or representations, whether oral, written, electronic or otherwise, and whether express or implied, with respect to the subject matter hereof, have
been made by either party which are not set forth expressly in this Agreement. Unless otherwise consented to in writing by the Company, in its sole discretion, this Agreement (and Recipient’s rights hereunder) may not be assigned, and the
obligations of Recipient hereunder may not be delegated, in whole or in part. The rights and obligations created hereunder shall be binding on the executors, administrators, heirs, successors and assigns of the Recipient and on the successors and
assigns of the Company. 
 8. Complete Agreement. This Agreement (together with those agreements and documents expressly
referred to herein, for the purposes referred to herein) embody the complete and entire agreement and understanding between the parties with respect to the subject matter hereof, and supersede any and all prior promises, assurances, commitments,
agreements, undertakings or representations, whether oral, written, electronic or otherwise, and whether express or implied, which may relate to the subject matter hereof in any way. 

9. Miscellaneous. 

(a) No Right to (Continued) Employment or Service. This Agreement and the grant of RSUs hereunder shall not confer, or be construed to
confer, upon the Recipient any right to employment or service, or continued employment or service, with the Company or any Related Entity. 

(b) No Limit on Other Compensation Arrangements. Nothing contained in this Agreement shall preclude the Company or any Related Entity
from adopting or continuing in effect other or additional compensation plans, agreements or arrangements, and any such plans, agreements and arrangements may be either generally applicable or applicable only in specific cases or to specific persons.

 (c) Severability. If any term or provision of this Agreement is or becomes or is deemed to be invalid, illegal or unenforceable in
any jurisdiction or under any applicable law, rule or regulation, then such provision shall be construed or deemed amended to conform to applicable law (or if such provision cannot be so construed or deemed amended without materially altering the
purpose or intent of this Agreement and the grant of RSUs hereunder, such provision shall be stricken as to such jurisdiction and the remainder of this Agreement and the award hereunder shall remain in full force and effect). 

(d) No Trust or Fund Created. Neither this Agreement nor the grant of RSUs hereunder shall create or be construed to create a trust or
separate fund of any kind or a fiduciary relationship between the Company or any Related Entity and the Recipient or any other person. To the extent that the Recipient or any other person acquires a right to receive payments from the Company or any
Related Entity pursuant to this Agreement, such right shall be no greater than the right of any unsecured general creditor of the Company. 

  
 2 













 (e) Law Governing. The validity, construction and effect of this Agreement shall be
determined in accordance with the laws of the State of Delaware without giving effect to principles of conflict of laws, and applicable federal law. 

(f) Interpretation. The Recipient accepts this award of RSUs subject to all of the terms, provisions and restrictions of this Agreement
and the Plan. The Recipient hereby accepts as binding, conclusive and final all decisions or interpretations of the Committee upon any questions arising under this Agreement or the Plan. 

(g) Headings. Section, paragraph and other headings and captions are provided solely as a convenience to facilitate reference. Such
headings and captions shall not be deemed in any way material or relevant to the construction, meaning or interpretation of this Agreement or any term or provision hereof. 

(h) Notices. Any notice under this Agreement shall be in writing and shall be deemed to have been duly given when delivered personally,
by overnight courier, or by United States mail, registered, postage prepaid, and addressed, in the case of the Company, to the Company’s General Counsel at 8565 Magellan Parkway, Suite 400, Richmond, VA 23227, or to the General Counsel’s
then current e-mail address, or if the Company should move its principal office, to such principal office, and, in the case of the Recipient, to the Recipient’s last permanent address as shown on the
Company’s records, subject to the right of either party to designate some other address at any time hereafter in a notice satisfying the requirements of this Section 10. 

(i) Compliance with Section 409A 

(i) It is the intention of both the Company and the Recipient that the benefits and rights to which the Recipient could be
entitled pursuant to this Agreement either comply with or fall within an exception to Section 409A of the Code and the Treasury Regulations and other guidance promulgated or issued thereunder
(“Section 409A”), to the extent that the requirements of Section 409A are applicable thereto, and the provisions of this Agreement shall be construed in a manner consistent with that
intention. For purposes of applying the provisions of Section 409A to this Agreement, each separately identified amount to which the Recipient is entitled under this Agreement shall be treated as a separate payment. In addition, to the extent
permissible under Section 409A, any series of installment payments under this Agreement shall be treated as a right to a series of separate payments. 

(ii) Notwithstanding the foregoing, the Company does not make any representation to the Recipient that the RSUs awarded
pursuant to this Agreement are exempt from, or satisfy, the requirements of Section 409A, and the Company shall have no liability or other obligation to indemnify or hold harmless the Recipient or any Beneficiary for any tax, additional tax,
interest or penalties that the Recipient or any Beneficiary may incur in the event that any provision of this Agreement, or any amendment or modification thereof or any other action taken with respect thereto is deemed to violate any of the
requirements of Section 409A. 
 (iii) Neither the Company nor the Recipient, individually or in combination, may
accelerate any payment or benefit that is subject to Section 409A, except in compliance with Section 409A and the provisions of this Agreement, and no amount that is subject to Section 409A shall be paid prior to the earliest date on
which it may be paid without violating Section 409A. 

  
 3 













 (iv) If required under Section 409A, then notwithstanding anything to
the contrary in this Agreement or the Plan, if the Recipient is a “Specified Employee” (as defined below) then the delivery of Shares otherwise required to be made under this Agreement on account of the termination of the Recipient’s
Continuous Service shall be made within thirty (30) days after the sixth (6th) month anniversary of the date of the termination of the Recipient’s Continuous Service or, if earlier, the
date of the Recipient’s death if such deferral is required to comply with Section 409A of the Code. For purposes of this Agreement, a “Specified Employee” means any individual who, at the time of his or her
separation from Continuous Service with the Company and its Related Entities, is a “key employee,” within the meaning of Section 416(i) of the Code, of the Company or any Related Entity, the stock of which is publicly traded on an
established securities market or otherwise. 
 (j) Non-Waiver of Breach. The waiver by any
party hereto of the other party’s prompt and complete performance, or breach or violation, of any term or provision of this Agreement shall be effected solely in a writing signed by such party, and shall not operate nor be construed as a waiver
of any subsequent breach or violation, and the waiver by any party hereto to exercise any right or remedy which he or it may possess shall not operate nor be construed as the waiver of such right or remedy by such party, or as a bar to the exercise
of such right or remedy by such party, upon the occurrence of any subsequent breach or violation. 
 (k) Clawback. The Company may
(i) cause the cancellation of the RSUs, (ii) require reimbursement of any benefit conferred under the RSUs to the Recipient or Beneficiary, and (iii) effect any other right of recoupment of equity or other compensation provided under
the Plan or otherwise in accordance with any Company policies that currently exist or that may from time to time be adopted or modified in the future by the Company and/or applicable law (each, a “Clawback Policy”). In
addition, the Recipient may be required to repay to the Company certain previously paid compensation, whether provided under the Plan or an Award Agreement or otherwise, in accordance with any Clawback Policy. By accepting this Award, the Recipient
agrees to be bound by any existing or future Clawback Policy adopted by the Company, or any amendments that may from time to time be made to the Clawback Policy in the future by the Company in its discretion (including without limitation any
Clawback Policy adopted or amended to comply with applicable laws or stock exchange requirements) and further agrees that all of the Recipient’s Award Agreements may be unilaterally amended by the Company, without the Recipient’s consent,
to the extent that the Company in its discretion determines to be necessary or appropriate to comply with any Clawback Policy. 
 (l)
Counterparts. This Agreement may be executed in two or more separate counterparts, each of which shall be an original, and all of which together shall constitute one and the same agreement. 

[Signature page follows] 

  
 4 













 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the ___ day of ______________,
2021. 
  

			
	COMPANY:
	
	ARKO CORP.
		
	By:	 	
                     
    

	 Name: Arie Kotler

	 Title: President and Chief Executive Officer

		
	By:	 	  

	 Name: Don Bassell

	 Title: Chief Financial Officer



 The Recipient acknowledges receipt of a copy of the Plan and represents that he or she has reviewed the provisions of
the Plan and this Agreement in their entirety, is familiar with and understands their terms and provisions, and hereby accepts this RSU award subject to all of the terms and provisions of the Plan and this Agreement. The Recipient further represents
that he or she has had an opportunity to obtain the advice of counsel prior to executing this Agreement. 
  

	
	RECIPIENT:
	
	  

	Name:



  
 5