EX-10.36






 Exhibit 10.36 
  

 VIVID SEATS INC. 

NON-EMPLOYEE DIRECTOR COMPENSATION
POLICY 
 Non-employee members of the board of directors (the
“Board”) of Vivid Seats Inc. (the “Company”) shall be eligible to receive cash and equity compensation as set forth in this Non-Employee Director Compensation
Policy (this “Policy”). The cash and equity compensation described in this Policy shall be paid or be made, as applicable, automatically and without further action of the Board, to each member of the Board who is not an
employee of the Company or any parent or subsidiary of the Company (each, a “Non-Employee Director”) who may be eligible to receive such cash or equity compensation, unless such Non-Employee Director declines the receipt of such cash or equity compensation by written notice to the Company. This Policy shall become effective after the effectiveness of the Company’s Form S-4 Registration (the “Effective Date”) and shall remain in effect until it is revised or rescinded by further action of the Board. This Policy may be amended, modified or terminated by the
Board at any time in its sole discretion. The terms and conditions of this Policy shall supersede any prior cash and/or equity compensation arrangements for service as a member of the Board between the Company and any of its Non-Employee Directors and between any subsidiary of the Company and any of its non-employee directors. 

1.    Cash Compensation. 

(a)    Annual Retainers. Each Non-Employee Director shall receive an annual
retainer of $40,000 for service on the Board. 
 (b)    Additional Annual Retainers. In addition, a Non-Employee Director shall receive the following annual retainers: 
 (i)    Audit
Committee. A Non-Employee Director serving as a member of the Audit Committee shall receive an additional annual retainer of $10,000 for such service. 

(ii)    Compensation Committee. A Non-Employee Director serving as a member
of the Compensation Committee shall receive an additional annual retainer of $5,000 for such service. 

(iii)    Nominating and Corporate Governance Committee. A Non-Employee
Director serving as a member of the Nominating and Corporate Governance Committee shall receive an additional annual retainer of $7,500 for such service. 

(c)    Payment of Retainers. The annual retainers described in Sections 1(a) and 1(b) shall be earned on a quarterly
basis based on a calendar quarter and shall be paid by the Company in arrears not later than the fifteenth day following the end of each calendar quarter. In the event a Non-Employee Director does not serve as
a Non-Employee Director, or in the applicable positions described in Section 1(b), for an entire calendar quarter, such Non-Employee Director shall receive a
prorated portion of the retainer(s) otherwise payable to such Non-Employee Director for such calendar quarter pursuant to Sections 1(a) and 1(b), with such prorated portion determined by multiplying such
otherwise payable retainer(s) by a fraction, the numerator of which is the number of days during which the Non-Employee Director serves as a Non-Employee Director or in
the applicable positions described in Section 1(b) during the applicable calendar quarter and the denominator of which is the number of days in the applicable calendar quarter. 

  
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 Exhibit 10.36 
  

 2.    Equity Compensation.
Non-Employee Directors shall be granted the equity awards described below. The awards described below shall be granted under and shall be subject to the terms and provisions of the Company’s 2021
Incentive Award Plan or any other applicable Company equity incentive plan then-maintained by the Company (such plan, as may be amended from time to time, the “Equity Plan”) and shall be granted subject to the execution and
delivery of award agreements, including attached exhibits, in substantially the forms previously approved by the Board. All applicable terms of the Equity Plan apply to this Policy as if fully set forth herein, and all equity grants hereunder are
subject in all respects to the terms of the Equity Plan. 
 (a)    Annual Awards. Each Non-Employee Director who (i) serves on the Board as of the date of any annual meeting of the Company’s stockholders (an “Annual Meeting”) after the Effective Date and
(ii) will continue to serve as a Non-Employee Director immediately following such Annual Meeting, shall be automatically granted, on the date of such Annual Meeting, an award of restricted stock units
(unless otherwise determined by the Board), that has an aggregate fair value on the date of grant of $160,000 (as determined in accordance with FASB Accounting Codification Topic 718 (“ASC 718”) and subject to adjustment
as provided in the Equity Plan), provided, that, on each Non-Employee Director’s first Annual Meeting following the date on which he or she is initially elected or appointed to the Board (the “First
Annual Meeting”), the Non-Employee Director shall be automatically granted, on the date of such First Annual Meeting, an award of restricted stock units (unless otherwise determined by the Board) that has
an aggregate fair value equal to the product of (i) $160,000 (as determined in accordance with ASC 718) and (ii) a fraction, the numerator of which is the number of days in the period beginning on the
Non-Employee Director’s Start Date and ending on the date of such Non-Employee Director’s First Annual Meeting and the denominator of which is 365 (with the
number of shares of common stock underlying each such award subject to adjustment as provided in the Equity Plan). The awards described in this Section 2(a) shall be referred to as the “Annual Awards.” 

(b)    Initial Awards. Except as otherwise determined by the Board, each
Non-Employee Director who is a Non-Employee Director as of the Effective Date or who is initially elected or appointed to the Board after the Effective Date on any date
other than the date of an Annual Meeting shall be automatically granted, on the date that a Form S-8 Registration Statement is filed to register the shares of common stock of the Company to be issued under the
Equity Plan, or, if later, the date of such Non-Employee Director’s initial election or appointment (such Non-Employee Director’s “Start
Date”), an award of restricted stock units that has an aggregate fair value on such Non-Employee Director’s Start Date (or if later, the Effective Date) of $320,000 (as determined in
accordance with ASC 718); provided that if the date of such Non-Employee Director’s initial election or appointment occurs prior to the Effective Date, such
Non-Employee Director shall receive his or her Initial Award on or promptly following the Effective Date. The awards described in this Section 2(b) shall be referred to as “Initial
Awards.” For the avoidance of doubt, no Non-Employee Director shall be granted more than one Initial Award. 

(c)    Termination of Employment of Employee Directors. Members of the Board who are employees of the Company or
any parent or subsidiary of the Company who subsequently 

  
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 Exhibit 10.36 
  

 
terminate their employment with the Company and any parent or subsidiary of the Company and remain on the Board will not receive an Initial Award pursuant to Section 2(b) above, but to the
extent that they are otherwise eligible, will be eligible to receive, after termination from employment with the Company and any parent or subsidiary of the Company, Annual Awards as described in Section 2(a) above. 

(d)    Vesting of Awards Granted to Non-Employee Directors. Each Annual
Award shall vest on the earlier of (i) the day immediately preceding the date of the first Annual Meeting following the date of grant and (ii) the first anniversary of the date of grant, subject to the
Non-Employee Director continuing in service on the Board through the applicable vesting date. Each Initial Award shall vest in five equal installments on the first five anniversaries of the date of grant,
subject to the Non-Employee Director continuing in service on the Board through the applicable vesting date. No portion of an Annual Award or Initial Award that is unvested at the time of a Non-Employee Director’s termination of service on the Board shall become vested thereafter. All of a Non-Employee Director’s Annual Awards and Initial Awards shall
vest in full immediately prior to the occurrence of a Change in Control (as defined in the Equity Plan), to the extent outstanding at such time. * * * * * 

  
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