EX-10.26





 Exhibit 10.26 

SOCIAL CAPITAL HEDOSOPHIA HOLDINGS CORP. 

DIRECTOR RESTRICTED STOCK UNIT AWARD AGREEMENT 

This Director Restricted Stock Unit Award Agreement (this “RSU Award Agreement”), dated as of
                    ,              (the “Grant Date”), is made by and
between Social Capital Hedosophia Holdings Corp., an exempted company incorporated under the laws of the Cayman Islands (which is expected to domesticate (the “Domestication”) as a Delaware corporation prior to the consummation of
the VG Business Combination) (the “Company”), and              (the “Participant”). The terms of this RSU Award Agreement shall be governed by the terms of
the omnibus equity incentive plan to be adopted by the Company and submitted for approval by the Company’s shareholders in connection with the VG Business Combination (the “Plan”). Certain capitalized terms used herein and not
otherwise defined are defined in Section 6 hereof. 
 1.    Grant of Restricted Stock Units. The Company hereby
grants to the Participant              restricted stock units (the “RSUs”), subject to all of the terms and conditions of this RSU Award Agreement, the Plan and
Section 8.8 of the Merger Agreement. 
 2.    Vesting. 

(a)    Subject to Sections 2(b) and 7, the RSUs shall become vested in full upon the consummation of the VG Business
Combination; provided that (x) the Participant remains in continuous service as a member of the Board of Directors of the Company (the “Board”) through the time that is immediately prior to the consummation of the
VG Business Combination and (y) the Class B Shares shall have converted into Common Stock in accordance with Section 8.8 of the Merger Agreement. 

(b)    If the Participant’s service as a member of the Board is terminated for any reason prior to the date on which
the VG Business Combination is consummated, then on the date of such termination from service (i) this RSU Award Agreement shall terminate and all rights of the Participant with respect to the RSUs shall immediately terminate, (ii) the
RSUs shall be forfeited without payment of any consideration, and (iii) neither the Participant nor any of the Participant’s successors, heirs, assigns, or personal representatives shall thereafter have any further rights or interests in
the RSUs. 
 3.    Settlement. Each RSU granted hereunder shall represent the notional right to receive a single
Ordinary Share and, upon the Domestication, each RSU will be converted into the notional right to receive a single share of Common Stock. Vested RSUs will be settled in shares of Common Stock on a date determined in the sole discretion of the
Company that shall occur between January 1 and December 31 of the year following the year in which vesting occurs. 

4.    Equitable Adjustment. In the event of any Change in Capitalization (other than in connection with the VG
Business Combination), an equitable substitution or proportionate adjustment shall be made in (i) the kind and number of Shares or other securities or the amount of cash or amount or type of other property subject to outstanding RSUs granted
under this Agreement; and/or (ii) the terms and conditions of this RSU Award Agreement; provided, however, that any fractional shares resulting from the adjustment shall be eliminated. The Company is further authorized to make
adjustments in the terms and conditions of, and the criteria included in, this RSU Award Agreement in recognition of unusual or infrequent events (including, without limitation, the events described in this Section 4, but excluding the VG
Business Combination) affecting the Company or the financial statements of the Company, including but not limited to changes in the number or conversion rights associated with the Class B Shares or Warrants other than as contemplated hereby, or
of changes in applicable laws, regulations, or accounting principles, whenever the Company determines that such adjustments are appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made
available under this RSU Award Agreement. 

  
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 5.    Voting and Other Rights. The Participant shall have no
rights of a stockholder with respect to the RSUs (including the right to vote and the right to receive distributions or dividends) unless and until Shares are issued in respect thereof following the date on which they vest in accordance with
Section 2(a) hereof; provided, that with respect to the period commencing on the Grant Date and ending on the date the Shares subject to such RSUs are issued pursuant to this RSU Award Agreement, the Participant shall be eligible to
receive an amount equal to the product of (i) the number of Shares to be delivered as a result of such vesting, and (ii) the amount of cash distributed by the Company with respect to an outstanding Share during such period, which amount
shall be paid to the Participant on the date such Shares are issued (provided that such amount shall not be paid to the extent that any RSUs do not become vested and Shares are not delivered). No interest or other earnings will be credited with
respect to such payment. 
 6.    Definitions. As used herein, the following defined terms have the definitions
set forth below: 
  

	 	i.	 “Change in Capitalization” means any (a) merger, consolidation, reclassification,
recapitalization, spin-off, spin-out, repurchase or other reorganization or corporate transaction or event, (b) special or extraordinary dividend or other
extraordinary distribution (whether in the form of cash, Shares or other property), stock split, reverse stock split, share subdivision or consolidation, (c) combination or exchange of Shares or (d) other change in corporate structure,
which, in any such case, the Company determines, in its sole discretion, affects the Shares such that an adjustment pursuant to Section 4 is appropriate. 



 

	 	ii.	 “Class B Shares” shall mean the Class B ordinary shares of the Company, par value
$0.0001 per share. 


  

	 	iii.	 “Common Stock” shall mean the common stock, par value $0.0001 per share, of the Company
following the Domestication. 


  

	 	iv.	 “Merger Agreement” means that certain Agreement and Plan of Merger, dated as of July 9,
2019, by and among the Company, Vieco 10 Limited, a company limited by shares under the laws of the British Virgin Islands, Foundation Sub 1, a Delaware corporation, Foundation Sub 2, a Delaware corporation, Foundation Sub LLC, a Delaware limited
liability company, TSC Vehicle Holdings, Inc., a Delaware corporation, Virgin Galactic Vehicle Holdings, Inc., a Delaware corporation, and VGH, LLC, a Delaware limited liability company. 



 

	 	v.	 “Ordinary Shares” shall mean the Class A ordinary shares of the Company, par value
$0.0001 per share. 


  

	 	vi.	 “Shares” shall mean, collectively, Ordinary Shares, shares of Common Stock and Class B
Shares, as applicable. 


  

	 	vii.	 “Trust Account” shall mean the trust fund into which a portion of the net proceeds of the
Company’s initial public offering were deposited for the benefit of the Company, certain of its public shareholders and the underwriters of the Company’s initial public offering. 



 

	 	viii.	 “VG Business Combination” shall mean the consummation of the Domestication and the Mergers
(each as defined in the Merger Agreement) and the other transactions contemplated by the Merger Agreement. 


  

	 	ix.	 “Warrants” shall mean warrants to purchase Shares. 



7.    RSU Award Agreement Subject to Plan and Shareholder Approval. This RSU Award Agreement is made pursuant to
all of the provisions of the Plan, which is incorporated herein by this reference, and is intended, and shall be interpreted in a manner, to comply therewith. In the event of any conflict between the provisions of this RSU Award Agreement and the
provisions of the Plan, the provisions of this RSU Award Agreement shall govern. The Participant hereby acknowledges that all decisions, determinations and interpretations of the Administrator in respect of the Plan, this RSU Award Agreement and the
RSUs shall be final and conclusive. This RSU Award Agreement and the grant of RSUs hereunder is expressly contingent upon approval of the Plan 

  
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and its Overall Share Limit (as defined in the Plan) by the Company’s Board (or a designated committee thereof) and the Company’s shareholders. If the Plan is not so approved on or
prior to the Closing of the VG Business Combination, this RSU Award Agreement shall be null and void ab initio on the Closing of the VG Business Combination. Any issuance of Shares in respect of RSUs shall be issued under and pursuant to the terms
of the Plan. 
 8.    Regulations and Other Approvals. 

 

	 	i.	 Any resale of the Shares received in respect of RSUs shall be made in compliance with the registration
requirement of the Securities Act of 1933, as amended (the “Securities Act”), or an applicable exemption therefrom, including, without limitation, the exemption provided by Rule 144 promulgated thereunder (or any successor rule,
“Rule 144”). 


  

	 	ii.	 The obligation of the Company to sell or deliver Shares with respect to any RSU granted hereunder shall be
subject to all applicable laws, rules and regulations, including all applicable federal and state securities laws, and the obtaining of all such approvals by governmental agencies as may be deemed necessary or appropriate by the Company.



  

	 	iii.	 Each RSU is subject to the requirement that, if at any time the Company determines, in its absolute discretion,
that the listing, registration or qualification of Shares issuable hereunder is required by any securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory body is necessary or desirable as a
condition of, or in connection with, the grant of an RSU or the issuance of Shares, no such RSU shall be granted or payment made or Shares issued, in whole or in part, unless such listing, registration, qualification, consent or approval has been
effected or obtained free of any conditions not acceptable to the Company. 


 9.    Participant
Representations and Warranties. This RSU Award Agreement and the grant of RSUs hereunder is expressly conditioned on the Participant’s acceptance and agreement to the representations and warranties set forth in Annex A hereto. All
representations and warranties contained in Annex A shall survive the execution of this RSU Award Agreement and the grant of the RSUs contemplated hereby. The Participant agrees to indemnify and hold harmless the Company from any liability, loss or
expense (including, without limitation, reasonable attorneys’ fees) if the Participant has breached any representation or warranty hereunder. 

10.    No Rights to Continuation of Service. Nothing in the Plan or this RSU Award Agreement shall confer upon the
Participant any right to continue in the service of the Company or any Affiliate thereof or shall interfere with or restrict the right of the Company or its Affiliates to terminate the Participant’s service at any time for any reason
whatsoever. 
 11.    Taxes. The Participant understands that the Participant (and not the Company) shall be
responsible for any tax liability that may arise as a result of the transactions contemplated by this RSU Award Agreement. 

12.    Section 409A and Section 457A. The intent of the parties is that the payments and benefits under this
RSU Award Agreement comply with Section 409A of the Code and be exempt from Section 457A of the Code, to the extent subject thereto, and accordingly, to the maximum extent permitted, this RSU Award Agreement shall be interpreted and
administered to be in compliance therewith or exempt therefrom, as applicable. Notwithstanding anything contained herein to the contrary, the Participant shall not be considered to have terminated service with the Company for purposes of any
payments under this RSU Award Agreement which are subject to Section 409A of the Code until the Participant would be considered to have incurred a “separation from service” from the Company within the meaning of Section 409A of
the Code. Each amount to be paid or benefit to be provided under this RSU Award Agreement shall be construed as a separate identified payment for purposes of Section 409A of the Code. Without limiting the foregoing and notwithstanding anything
contained herein to the contrary, to the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A of the Code, amounts that would otherwise be payable and benefits that would otherwise be


  
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provided pursuant to this RSU Award Agreement or any other arrangement between the Participant and the Company during the six-month period immediately
following the Participant’s separation from service shall instead be paid on the first business day after the date that is six months following the Participant’s separation from service (or, if earlier, the Participant’s date of
death). The Company makes no representation that any or all of the payments described in this RSU Award Agreement will be exempt from or comply with Section 409A or Section 457A of the Code and makes no undertaking to preclude
Section 409A or Section 457A of the Code from applying to any such payment. The Participant shall be solely responsible for the payment of any taxes and penalties incurred under Section 409A or Section 457A of the Code. 

13.    Governing Law. This RSU Award Agreement shall be governed by and construed in accordance with the laws of
the State of Delaware. 
 14.    RSU Award Agreement Binding on Successors. The terms of this RSU Award Agreement
shall be binding upon the Participant and upon the Participant’s heirs, executors, administrators, personal representatives, transferees, assignees and successors in interest, and upon the Company and its successors and assignees, subject to
the terms of the Plan. 
 15.    No Assignment. Notwithstanding anything to the contrary in this RSU Award
Agreement, neither this RSU Award Agreement nor any rights granted herein shall be assignable by the Participant. 

16.    Necessary Acts. The Participant hereby agrees to perform all acts, and to execute and deliver any other
documents that may be reasonably necessary to carry out the provisions of this RSU Award Agreement, including but not limited to all acts and documents related to compliance with federal and/or state securities and/or tax laws. 

17.    Severability. Should any provision of this RSU Award Agreement be held by a court of competent jurisdiction
to be unenforceable, or enforceable only if modified, such holding shall not affect the validity of the remainder of this RSU Award Agreement, the balance of which shall continue to be binding upon the parties hereto with any such modification (if
any) to become a part hereof and treated as though contained in this original RSU Award Agreement. Moreover, if one or more of the provisions contained in this RSU Award Agreement shall for any reason be held to be excessively broad as to scope,
activity, subject or otherwise so as to be unenforceable, in lieu of severing such unenforceable provision, such provision or provisions shall be construed by the appropriate judicial body by limiting or reducing it or them, so as to be enforceable
to the maximum extent compatible with the applicable law as it shall then appear, and such determination by such judicial body shall not affect the enforceability of such provisions or provisions in any other jurisdiction. 

18.    Entire Agreement. This RSU Award Agreement, the Plan and the Merger Agreement contain the entire agreement
and understanding among the parties as to the subject matter hereof, and supersedes any other agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof. 

19.    Headings. Headings are used solely for the convenience of the parties and shall not be deemed to be a
limitation upon or descriptive of the contents of any such Section. 
 20.    Counterparts; Electronic Signature.
This RSU Award Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument. The Participant’s electronic signature of this
RSU Award Agreement shall have the same validity and effect as a signature affixed by the Participant’s hand. 

21.    Amendment; Third Party Beneficiary. No amendment or modification hereof (including with respect to any of
the conditions set forth in Section 2(b) or Section 7) shall be valid unless it shall be in writing and signed by all parties hereto and, prior to the Closing, by Vieco 10 Limited (“Vieco 10”). Vieco 10 shall be a third
party beneficiary of this Agreement. 

  
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 22.    Waiver against Trust Account. The Participant acknowledges
that he or she has no right, title, interest or claim of any kind in or to any monies held in the Trust Account or any other asset of the Company as a result of any liquidation of the Company with respect to the RSUs. The Participant hereby further
acknowledges that he or she shall have no right of set-off or any other right, title, interest or claim of any kind (“Claim”) in, or to any distribution of, the Trust Account and hereby agrees
not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever. The Participant hereby waives any and all Claims against the Trust Account and any and all rights to seek access to the
Trust Account. 
 [Signature Pages Follow] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this RSU Award Agreement as of the date
set forth above. 
  

			
	SOCIAL CAPITAL HEDOSOPHIA HOLDINGS CORP.
		
	By:	 	  

		
	Print Name:  	 	  

		
	Title:	 	  


  
  
  

[Signature Page to Director RSU Award Agreement] 

  
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 The undersigned hereby accepts and agrees to all the terms and provisions of the foregoing
RSU Award Agreement, including Annex A. 
  

			
	PARTICIPANT
		
	Signature:	 	  

		
	Print Name:  	 	  

		
	Address:	 	  

		
		 	  


  
  
  

[Signature Page to Director RSU Award Agreement] 

  
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 ANNEX A 

REPRESENTATIONS AND WARRANTIES OF THE PARTICIPANT 

The Participant hereby represents and warrants to the Company as of the date of this RSU Award Agreement as follows: 

 

	1.	 The Participant’s domicile is the State of [DOMICILE], all discussions related to this Agreement, the
RSUs, and the offer and acceptance of this RSU Award Agreement, and the RSUs granted hereunder, occurred in the State of [DOMICILE]. 


  

	2.	 The Participant has such knowledge and experience in financial and business matters that he or she is capable
of evaluating the merits and risks of the investment to be made by the Participant hereunder. The Participant understands and has taken cognizance of all the risk factors related to the investment in the RSUs. 



 

	3.	 The Participant is acquiring the RSUs for his or her own account for investment and not with any view to, or
for resale in connection with, any distribution or public offering thereof within the meaning of the Securities Act. 


  

	4.	 The Participant understands that (i) the RSUs have not been, and any Shares received in respect of RSUs
will not be, registered under the Securities Act or applicable state securities laws, in reliance on exemptions from registration under the Securities Act and applicable state securities laws, (ii) the RSUs and any Shares received in respect of
RSUs may not be sold, transferred, offered for sale, pledged, hypothecated or otherwise disposed of without registration under the Securities Act, except: (a) to the Company or a subsidiary thereof, (b) to
non-U.S. persons pursuant to offers and sales that occur outside the United States within the meaning of Regulation S under the Securities Act or (c) pursuant to another applicable exemption from the
registration requirements of the Securities Act, and in each of cases (a) and (c) in accordance with any applicable securities laws of the states and other jurisdictions of the United States, and that any certificates representing the Shares
shall contain a legend to such effect, (iii) the availability of an exemption from registration may depend on factors over which the Participant has no control, that unless so registered or exempt from registration the RSUs and any Shares
received in respect of RSUs may be required to be held for an indefinite period and (iv) no federal or state agency has made any finding or determination as to the fairness for investment, nor any recommendation or endorsement, of the RSUs or
any Shares received in respect of RSUs. 


  

	5.	 The Participant understands that an exemption from registration is not presently available pursuant to Rule
144, that there is no assurance that such exemption will ever become available to the Participant and that even if it were to become available, sales pursuant to Rule 144 would be limited in amount and could only be made in full compliance with the
provisions of Rule 144. 


  

	6.	 The Participant acknowledges and agrees that (i) except as expressly provided for in this RSU Award
Agreement, no representations or warranties have been made to the Participant by the Company, any manager, officer, agent, employee or affiliate of the Company, or any other persons with respect to the Participant’s investment in the RSUs,
(ii) except for this RSU Award Agreement and the Plan, there are no agreements, contracts, understandings or commitments between the Participant on the one hand and the Company, any director, manager, officer, agent, employee or affiliate of
the Company on the other hand, with respect to the Participant’s investment in the RSUs, (iii) in entering into this transaction the Participant is not relying upon any information, other than that contained in the Plan, this RSU Award
Agreement and the results of the Participant’s own independent investigation, (iv) the Participant’s financial situation is such that the Participant can afford to hold the RSUs and any Shares received in respect of RSUs for an
indefinite period of time, has adequate means for providing for his or her current needs and personal contingencies, and can afford the eventuality that the RSUs and any Shares received in respect of RSUs may ultimately have no value, (v) the
future value of the RSUs and any Shares received in respect of RSUs is speculative, and (vi) the Participant’s investment in the RSUs and any Shares received in respect of RSUs is subject to dilution by the issuance of additional equity
securities by the Company and the Participant is not 



  
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entitled to any preemptive, tag-along, information or other minority investor rights with respect to the RSUs and any Shares received in respect of RSUs,
other than as expressly set forth in this RSU Award Agreement, the Plan or as otherwise provided under applicable law. 

  

	7.	 The Participant understands that he or she must bear the economic risk of his or her investment in the RSUs for
an indefinite period of time. 


  

	8.	 The Participant understands that the grant of RSUs to the Participant is predicated, in part, on the
representations, warranties and covenants of the Participant contained herein. 


  

	9.	 The Participant hereby acknowledges that neither the Company nor any representative of the Company has
provided, or will provide, the Participant with tax advice regarding the RSUs, the Company or the execution of this Agreement, and the Company has advised the Participant to consult the Participant’s own tax advisor with respect to the tax
consequences of each of the foregoing, including but not limited to any applicable elections, withholdings or other matters relating to the RSUs, the Company or the execution of this Agreement. 



  
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