EX-10.32




 Exhibit 10.32 

BLACK KNIGHT FINANCIAL SERVICES, INC. 

2015 OMNIBUS INCENTIVE PLAN 

Restricted Stock Award Agreement 

(Subject to Time-Based Restriction) 

SECTION 1. GRANT OF RESTRICTED STOCK 
 (a)
Restricted Stock. On the terms and conditions set forth in the Notice of Restricted Stock Grant (the “Notice”) and this Restricted Stock Award Agreement (the “Agreement”), the Company grants to the Grantee on the Effective
Date of Grant the Shares of Restricted Stock (the “Restricted Stock”) set forth in the Notice. 
 (b) Plan and Defined Terms. The Restricted
Stock is granted pursuant to the Black Knight Financial Services, Inc. 2015 Omnibus Incentive Plan (the “Plan”). All terms, provisions, and conditions applicable to the Restricted Stock set forth in the Plan and not set forth herein are
hereby incorporated by reference herein. To the extent any provision hereof is inconsistent with a provision of the Plan, the provisions of the Plan will govern. All capitalized terms that are used in the Notice or this Agreement and not otherwise
defined therein or herein shall have the meanings ascribed to them in the Plan. 
 SECTION 2. FORFEITURE AND TRANSFER RESTRICTIONS 

(a) Forfeiture. Except as otherwise provided in Grantee’s employment, director services or similar agreement in effect at the time of the
employment termination: 
 (i) If the Grantee’s employment or service as a Director or Consultant is terminated for any reason other
than death, or Disability (as defined below), the Grantee shall, for no consideration, forfeit to the Company the Shares of Restricted Stock to the extent such Shares are subject to a Period of Restriction at the time of such termination. 

(ii) If the Grantee’s employment or service as a Director or Consultant is terminated due to the Grantee’s death or Disability, a
portion of the Shares which on the date of termination of employment remain subject to a Time-Based Restriction (as defined in Exhibit A) shall vest and become free of the forfeiture and transfer restrictions contained in the Agreement (except as
otherwise provided in Section 2(b) of this Agreement). The portion which shall vest shall be determined by the following formula (rounded to the nearest whole Share): 

(A x B) – C, where 
 A =
the total number of Shares granted under this Agreement, 
 B = the number of completed months to the date of termination of employment
since the Effective Date of Grant divided by [36], and 
 C = the number of Shares granted under this Agreement which vested on or prior to
the date of termination of employment. 
 All Shares that are subject to a Period of Restriction on the date of termination of employment or service as a
Director or Consultant and which will not be vested pursuant to Section 2(a)(ii) above, shall be forfeited to the Company, for no consideration. 

(iii) The term “Disability” shall have the meaning ascribed to such term in the Grantee’s employment, director services or
similar agreement with the Company. If the Grantee’s employment, director services or similar agreement does not define the term “Disability,” or if the Grantee has not entered into an employment, director services or similar
agreement with the Company or any Subsidiary, the term “Disability” shall mean the Grantee’s entitlement to long-term disability benefits pursuant to the long-term disability plan maintained by the Company or in which the
Company’s employees participate. 








 (b) Transfer Restrictions. During the Period of Restriction, the Restricted Stock may not be sold,
assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of, to the extent such Shares are subject to a Period of Restriction. 

(c) Lapse of Restrictions. The Period of Restriction shall lapse as to the Restricted Stock in accordance with the Notice and the terms of this
Agreement. Subject to the terms of the Plan and Section 6(a) hereof, upon lapse of the Period of Restriction, the Grantee shall own the Shares that are subject to this Agreement free of all restrictions otherwise imposed by this Agreement. Upon
the occurrence of a Change in Control, unless otherwise specifically prohibited under applicable laws, or by the rules and regulations of any governing governmental agencies or national securities exchanges, any Period of Restriction or other
restriction imposed on the Restricted Stock that has not previously lapsed shall lapse. 
 SECTION 3. STOCK CERTIFICATES 

As soon as practicable following the grant of Restricted Stock, the Shares of Restricted Stock shall be registered in the Grantee’s name
in certificate or book-entry form. If a certificate is issued, it shall bear an appropriate legend referring to the restrictions and it shall be held by the Company, or its agent, on behalf of the Grantee until the Period of Restriction has lapsed.
If the Shares are registered in book-entry form, the restrictions shall be placed on the book-entry registration. The Grantee may be required to execute and return to the Company a blank stock power for each Restricted Stock certificate (or
instruction letter, with respect to Shares registered in book-entry form), which will permit transfer to the Company, without further action, of all or any portion of the Restricted Stock that is forfeited in accordance with this Agreement. 

SECTION 4. SHAREHOLDER RIGHTS 

Except for the transfer and dividend restrictions, and subject to such other restrictions, if any, as determined by the Committee, the Grantee
shall have all other rights of a holder of Shares, including the right to vote (or to execute proxies for voting) such Shares. Unless otherwise determined by the Committee, if all or part of a dividend in respect of the Restricted Stock is paid in
Shares or any other security issued by the Company, such Shares or other securities shall be held by the Company subject to the same restrictions as the Restricted Stock in respect of which the dividend was paid. 








 SECTION 5. DIVIDENDS 

(a) Any dividends paid with respect to Shares which remain subject to a Period of Restriction shall not be paid to the Grantee but shall be held by the
Company. 
  

	(b)	Such held dividends shall be subject to the same Period of Restriction as the Shares to which they relate. 


(c) Any dividends held pursuant to this Section 5 which are attributable to Shares which vest pursuant to this Agreement shall be paid to the
Grantee within 30 days of the applicable vesting date. 
 (d) Dividends attributable to Shares forfeited pursuant to Section 2 of this Agreement
shall be forfeited to the Company on the date such Shares are forfeited. 
 SECTION 6. MISCELLANEOUS PROVISIONS 

(a) Tax Withholding. Pursuant to Article 20 of the Plan, the Committee shall have the power and right to deduct or withhold, or require the Grantee to
remit to the Company, an amount sufficient to satisfy any federal, state and local taxes (including the Grantee’s FICA obligations) required by law to be withheld with respect to this Award. The Committee may condition the delivery of Shares
upon the Grantee’s satisfaction of such withholding obligations. The Grantee may elect to satisfy all or part of such withholding requirement by tendering previously-owned Shares or by having the Company withhold Shares having a Fair Market
Value equal to the minimum statutory withholding (based on minimum statutory withholding rates for federal, state and local tax purposes, as applicable, including payroll taxes) that could be imposed on the transaction, and, to the extent the
Committee so permits, amounts in excess of the minimum statutory withholding to the extent it would not result in additional accounting expense. Such election shall be irrevocable, made in writing, signed by the Grantee, and shall be subject to any
restrictions or limitations that the Committee, in its sole discretion, deems appropriate. 
 (b) Ratification of Actions. By accepting this
Agreement, the Grantee and each person claiming under or through the Grantee shall be conclusively deemed to have indicated the Grantee’s acceptance and ratification of, and consent to, any action taken under the Plan or this Agreement and
Notice by the Company, the Board or the Committee. 
 (c) Notice. Any notice required by the terms of this Agreement shall be given in writing and
shall be deemed effective upon personal delivery or upon deposit with the United States Postal Service, by registered or certified mail, with postage and fees prepaid. Notice shall be addressed to the Company at its principal executive office and to
the Grantee at the address that he or she most recently provided in writing to the Company. 
 (d) Choice of Law. This Agreement and the Notice shall
be governed by, and construed in accordance with, the laws of Florida, without regard to any conflicts of law or choice of law rule or principle that might otherwise cause the Plan, this Agreement or the Notice to be governed by or construed in
accordance with the substantive law of another jurisdiction. 
 (e) Arbitration. Subject to, and in accordance with the provisions of Article 3 of the
Plan, any dispute or claim arising out of or relating to the Plan, this Agreement or the Notice shall be settled by binding arbitration before a single arbitrator in Jacksonville, Florida and in accordance with the Commercial Arbitration Rules of
the American Arbitration Association. The arbitrator shall decide any issues submitted in accordance with the provisions and commercial purposes of the Plan, this Agreement and the Notice, provided that all substantive questions of law shall be
determined in accordance with the state and federal laws applicable in Florida, without regard to internal principles relating to conflict of laws. 
 (f)
Modification or Amendment. This Agreement may only be modified or amended by written agreement executed by the parties hereto; provided, however, that the adjustments permitted pursuant to Section 4.3 of the Plan may be made without such
written agreement. 








 (g) Severability. In the event any provision of this Agreement shall be held illegal or invalid for any
reason, the illegality or invalidity shall not affect the remaining provisions of this Agreement, and this Agreement shall be construed and enforced as if such illegal or invalid provision had not been included. 

(h) References to Plan. All references to the Plan shall be deemed references to the Plan as may be amended from time to time. 

(i) Section 409A Compliance. To the extent applicable, it is intended that the Plan and this Agreement comply with the requirements of Code
Section 409A and any related regulations or other guidance promulgated with respect to such Section by the U.S. Department of the Treasury or the Internal Revenue Service and the Plan and the Award Agreement shall be interpreted accordingly.









 EXHIBIT A 

Vesting and Restrictions 

This grant is subject to a Time-Based Restriction, as described below (collectively, the “Period of Restriction”). 

Time-Based Restrictions 
  

					
	 Anniversary Date
	  	% of Restricted Stock	 
	 [First (1st) anniversary of the Effective Date of Grant]
	  	 	[33.33	%] 
	 [Second (2nd) anniversary of the Effective Date of Grant]
	  	 	[33.33	%] 
	 [Third (3rd) anniversary of the Effective Date of Grant]
	  	 	[33.34	%] 

 Vesting 

As of each Anniversary Date, the percentage of Restricted Stock indicated next to such Anniversary Date shall vest (such vesting schedule
referred to as the “Time-Based Restriction”).