Exhibit 10.27






 


Lucid
Group, Inc.

Executive Severance Benefit Plan

Participation Agreement – [Participant’s Position/Title]


 


To: ___________________________________


 


Date: _________________________________


 


 


On behalf of Lucid Group, Inc.,
I am pleased to inform you that you have been designated as eligible to be a Participant in the Lucid Group, Inc. Executive Severance
Benefit Plan (the “Plan”). The consolidated Plan document and Summary Plan Description is attached to this Participation
Agreement. The terms and conditions of your participation in the Plan are as set forth in the Plan and this Participation Agreement and
this Participation Agreement is an integral part of the Plan.


 


The table below designates the
benefits that you are eligible to receive pursuant to the Plan if you otherwise meet the eligibility requirements.


 


	
     

    SEVERANCE BENEFITS

     

    (Refer to the Plan document
    for specific definitions and terms)

     

	

                                                                                 

                                                                                Termination Event
	

                                                                                 

                                                                                Salary Continuation
	
     

    Maximum Duration

    of COBRA or COBRA- Equivalent

    Payment Period

     
	

                                                                                 

                                                                                Percentage of Outstanding Unvested Equity Awards That Will Accelerate (to the extent eligible for acceleration under the Plan)

	
     

    Non-Change 

    of Control 

    Termination
	
     

    [__] months

    of your

    Monthly Base Salary

     

     

     
	
     

    [__] months

     

     

     

     

     
	 

                                                                                [__]% plus [_]% per Year of Service, less vesting acceleration otherwise provided in option grant, employment agreement or other documentation, up to [__]% maximum

	

                                                                                 

                                                                                Change of Control Termination
	
     

    [__] months 

    of your

Monthly Base Salary 

    and Monthly Bonus 

    Amount

     
	

                                                                                 

                                                                                [__] months
	

                                                                                 

                                                                                100%




 


 Please refer to the consolidated Plan for an explanation of these benefits and the related defined terms,
including, without limitation, “Non-Change of Control Termination” and “Change of Control Termination”.


 


We appreciate your service
to [specify/Lucid Group, Inc. and its Participating Subsidiaries]. If you wish to participate in this Plan, please carefully review the
terms of the Plan and this Participation Agreement (see the next page). You will not be considered a Participant in the Plan, unless and
until you sign and return to [specify/General Counsel] the unmodified and signed Participation Agreement no later than [30 days from the
date set forth above/specify date].


 






    	 		 



     


    




 





	 	LUCID GROUP, INC.
	 	 
	 	
	 	Signature

                                                                    


                                                                    

	 	Title 

                                                                    

	 	Date



 






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Lucid
Group, Inc.

Executive Severance Benefit Plan

Participation Agreement – [Participant’s Position/Title]


 


By accepting participation in
the Plan, based on the terms and conditions of the Plan and this Participation Agreement and as evidenced by my signature below, I represent,
agree and acknowledge the following:


 


		·	I have been provided with the consolidated Plan
document and summary description and have reviewed and had an opportunity to ask questions of the Company,



		·	I understand any dispute arising under the Plan
is subject to binding arbitration as set forth in Section 13(g) of the Plan and, accordingly, I irrevocably waive my right, by participating
in this Plan, to bring an action in court and agree to binding arbitration,



		·	I have either consulted with my personal tax
or financial planning advisor and/or lawyer regarding the legal and tax consequences of my participation in the Plan, or I knowingly decline
to do so,



		·	I will rely solely on my advisors and not on
any statements or representations of the Company or any of its agents regarding the tax consequences of my participation and, furthermore,
I am solely responsible for any tax liability that may arise as a result of my participation in the Plan,



		·	I irrevocably waive any and all rights related
to severance or benefits provided in connection with my termination of employment or service under any and all prior agreements and plans
sponsored or provided by the Company or any of its affiliates (including but not limited to the Participant Notice under the Atieva USA,
Inc. Severance Plan dated [date]), and



		·	I find that the consideration offered to me in
this Participation Agreement and the Plan is sufficient for me to waive such rights.



 


Please return to [specify/General
Counsel] this Participation Agreement signed by you by the deadline specified in the Participation Agreement and retain a copy, along
with the Plan document, for your records.





 





 


	 	
	 	 
	 	 

                                                 

	 	Signature

                                                                    


                                                                    

	 	Print
                                            Name

                                                                    

                                                                    

	 	Date



 






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