EXHIBIT 10.8


 


CABINET GROW, INC.


2015 EQUITY COMPENSATION PLAN


STOCK AWARD AGREEMENT FOR RESTRICTED
STOCK


 


Unless otherwise
defined herein, capitalized terms shall have the defined meaning set forth in the CABINET GROW, INC. 2015 Equity Compensation Plan
(the “Plan”).


 


1. NOTICE
OF RESTRICTED STOCK GRANT


 


You have been granted
restricted shares of Common Stock, subject to the terms and conditions of the Plan and this Stock Award Agreement, as follows:


 


	 	 
	Name of Awardee:	 
	Total Number of Shares Granted:	 
	Purchase Price per Share:	$ 
	Fair Market Value per Share:	$ 
	Grant Date:	 
	Vesting Commencement Date:	 
	Vesting Schedule:	[Subject to Section 2.8 below, the first [__]% of the Shares subject to this Stock Award Agreement shall vest on the Vesting Commencement Date, and [__]% of the Shares subject to this Stock Award Agreement shall vest each [month/quarter/year] thereafter, subject to the Awardee continuing to be a Service Provider on such dates. Vesting shall accelerate as provided in Section 2.3 below.]


 


2. AGREEMENT


 


2.1 Grant
of Restricted Stock. Pursuant to the terms and conditions set forth in this Stock Award Agreement (including Section 1
above) and the Plan, the Administrator hereby grants to the Awardee named in Section 1, on the Grant Date set forth in Section 1,
the number of Shares set forth in Section 1. The granted Shares may be subject to a purchase price, as set forth in Section 1.


 


2.2 Purchase
of Restricted Stock. If the granted Shares are subject to a purchase price, as set forth in Section 1 above, the
Awardee shall have the right to purchase such Shares at the specified purchase price in accordance with such procedures as
may be established by the from time to time.


 


2.3 Vesting.
The Awardee shall vest in the granted Shares in accordance with the vesting schedule provided for in Section 1 above;
provided, however, that the Awardee shall cease vesting in the granted Shares upon the Awardee's Termination of Service.
Notwithstanding the foregoing, the Awardee shall vest in all granted Shares if the Company is subject to a Change in Control
before the Awardee's Termination of Service, and the Awardee is subject to a Termination of Service resulting from: (i) the
Awardee's involuntary discharge by the Company (or the Affiliate employing him or her) for reasons other than Cause (defined
below), death or Disability; or (ii) the Awardee's resignation for Good Reason (defined below) in anticipation of or within
24 months after the Change in Control.


 


The term "Cause"
shall mean (1) the Awardee's theft, dishonesty, or falsification of any documents or records of the Company or any Affiliate; (2)
the Awardee's improper use or disclosure of confidential or proprietary information of the Company or any Affiliate that results
or will result in material harm to the Company or any Affiliate; (3) any action by the Awardee which has a detrimental effect on
the reputation or business of the Company or any Affiliate; (4) the Awardee's failure or inability to perform any reasonable assigned
duties after written notice from the Company or an Affiliate, and a reasonable opportunity to cure, such failure or inability;
(5) any material breach by the Awardee of any employment or service agreement between the Awardee and the Company or an Affiliate,
which breach is not cured pursuant to the terms of such agreement; (6) the Awardee's conviction (including any plea of guilty or
nolo contendere) of any criminal act which impairs the Awardee's ability to perform his or her duties with the Company or an Affiliate;
or (7) violation of a material Company policy. The term "Good Reason" shall mean, as determined by the Administrator,
(A) a material adverse change in the Awardee's title, stature, authority, or responsibilities with the Company (or the Affiliate
employing him or her); (B) a material reduction in the Awardee's base salary or annual bonus opportunity; or (C) receipt of notice
that the Awardee's principal workplace will be relocated by more than 50 miles.


2.4 Risk of Forfeiture.


 


(A) General
Rule. The granted Shares shall initially be subject to a risk of forfeiture. The Shares subject to a risk of forfeiture shall
be referred to herein as "Restricted Shares." The Awardee may not transfer, assign, encumber, or otherwise dispose
of any Restricted Shares other than in accordance with this Stock Award Agreement and the Plan. If the Awardee transfers any Restricted
Shares in accordance with this Stock Award Agreement and the Plan, then this Section shall apply to the transferee to the same
extent as to the transferor.


 


(B) Lapse
of Risk of Forfeiture. The risk of forfeiture shall lapse as the Awardee vests in the granted Shares in accordance with the
vesting schedule set forth in Section 1 above.


 


(C) Forfeiture
of Granted Shares. The Restricted Shares shall automatically be forfeited and immediately returned to the Company upon the
Awardee's Termination of Service; provided that if any Restricted Shares were purchased by the Awardee, then upon the Awardee's
Termination of Service, the Company shall have the right to repurchase such Restricted Shares at the original price paid by the
Awardee at any time during the 90-day period following the date of the Awardee's Termination of Service, provided that during any
California Qualification Period, the Company must exercise such right to repurchase for either cash or cancellation of purchase
money indebtedness for such unvested Shares. The certificates evidencing the Restricted Shares shall have stamped on them a special
legend referring to the Company's right of repurchase.


 


(D) Additional
Shares or Substituted Securities. In the event of a stock split, reverse stock split, stock dividend, recapitalization, combination,
or reclassification of the Common Stock or any other increase or decrease in the number of issued and outstanding Shares effected
without receipt of consideration by the Company, any new, substituted, or additional securities or other property (including money
paid other than as an ordinary cash dividend) which are by reason of such transaction distributed with respect to any Restricted
Shares or into which such Restricted Shares thereby become convertible shall immediately be subject to a risk of forfeiture as
provided herein.


 


(E) Escrow.
At the discretion of the Administrator, the certificates representing the granted Shares may, upon issuance, be deposited in escrow
with the Company to be held in accordance with the provisions of this Stock Award Agreement. If the granted Shares are held in
escrow, as provided in this subsection, any new, substituted or additional securities or other property described in Section 2.4(D)
above shall immediately be delivered to the Company to be held in escrow, but only to the extent the granted Shares are at the
time Restricted Shares. All regular cash dividends on Restricted Shares (or other securities) at the time held in escrow shall
be paid directly to the Awardee and shall not be held in escrow. Restricted Shares, together with any other assets or securities
held in escrow hereunder, shall be (i) surrendered to the Company for cancellation upon forfeiture thereof; or (ii) released
to the Awardee upon request, but only to the extent that the granted Shares are no longer Restricted Shares.


 


2.5 Leave
of Absence. The Awardee shall not incur a Termination of Service when the Awardee goes on any bona fide leave of absence, if
the leave was approved by the Company (or Affiliate employing him or her) in writing and if continued crediting of service is required
by the terms of the leave or by applicable law. The Awardee shall incur a Termination of Service when the approved leave ends,
however, unless the Awardee immediately returns to active work.


 


2.6 Rights
as a StockAwardee. The Awardee shall have the rights of a stockAwardee of the Company, including the right to vote the granted
Shares.


 


2.7 Regulatory
Compliance. The issuance of Common Stock pursuant to this Stock Award Agreement shall be subject to full compliance with all
applicable requirements of law and the requirements of any stock exchange or interdealer quotation system upon which the Common
Stock may be listed or traded.


 


2.8 Vesting
if Sale Prohibited by Insider Trading Policy. The Company has established an Insider Trading Policy (as such policy may be
amended from time to time, the "Policy") relative to trading while in possession of material, undisclosed information.
The Policy prohibits officers, directors, employees, and consultants of the Company and its subsidiaries from trading in securities
of the Company during certain "Blackout Periods" as described in the Policy. If a scheduled vesting date for Shares falls
on a day during such a Blackout Period, then the Shares that would otherwise have vested on such date shall not vest on such date,
but shall instead vest, provided the Awardee remains a Service Provider, on the second business day after the last day of the Blackout
Period applicable to the Shares.


 


2.9 Withholding
Tax. The Company's obligation to deliver the granted Shares or to remove any restrictive legends upon vesting of such Shares
under the Plan shall be subject to the satisfaction of all applicable federal, state, local, and foreign income and employment
tax withholding requirements. The Awardee shall pay to the Company an amount equal to the withholding amount (or the Company may
withhold such amount from the Awardee's salary) in cash. At the Administrator's discretion, the Awardee may pay the withholding
amount with Shares; provided, however, that payment in Shares shall be limited to the withholding amount calculated using the minimum
statutory withholding rates.


 


2.10 Certain
Federal Income Tax Issues.


 


(A) Subject
to provisions discussed in subsection (B) below, under Section 83 of the Code, the Awardee will recognize ordinary income upon
transfer of the Shares to the Awardee, measured as the difference between the fair market value of the granted Shares on the date
of transfer and the amount paid for the granted Shares, if any. The capital gain holding period will begin on the date of transfer.


 


(B) To
the extent that the granted Shares are subject to a "substantial risk of forfeiture" (within the meaning of Section
83 of the Code) on the Grant Date, the Awardee will not recognize ordinary income until the granted Shares are no longer subject
to a substantial risk of forfeiture (i.e., as the Shares vest). The Awardee's ordinary income is measured as the difference between
the amount paid for the granted Shares, if any, and the fair market value of the granted Shares when such Shares are no longer
subject to a substantial risk of forfeiture. The capital gain holding period for Shares subject to a substantial risk of forfeiture
begins on the date when such Shares are no longer subject to a substantial risk of forfeiture.


 


(C) If
the Shares are subject to a substantial risk of forfeiture, the Awardee may nonetheless accelerate his or her recognition of ordinary
income, if any, and begin his or her capital gains holding period by timely filing an election pursuant to Section 83(b) of the
Code (the "83(b) Election"). If the Awardee makes an 83(b) Election, the excess of (i) the fair market value
of the granted Shares on the Grant Date over (ii) the purchase price, if any, paid for the granted Shares will be included
in the Awardee's ordinary income. If the granted Shares are later forfeited, however, the Awardee will not be entitled to a tax
deduction or a refund of the tax already paid. If the Awardee makes the 83(b) Election, the Awardee will not recognize any additional
income when the granted Shares vest and any appreciation in the value of the granted Shares after the election is not taxed as
compensation but instead is taxed as capital gain when the granted Shares are sold.


 


(D) The
83(b) Election must be filed with the Internal Revenue Service within 30 days after the Shares are transferred. If the Awardee
is an employee or former employee, any ordinary income resulting from the election will be subject to applicable tax withholding
requirements. The election is generally irrevocable and cannot be made after the 30-day period has expired. In the event that the
Awardee makes an 83(b) Election, the Awardee (i) shall promptly provide the Company with a copy of the 83(b) Election, as
filed with the Internal Revenue Service; and (ii) the Company may withhold from any payments due to the Awardee any applicable
federal, state, or local taxes and such other deductions as are prescribed by law, or the Awardee will pay to the Company all such
tax withholding amounts promptly upon request.


 


(E) The
foregoing is only a summary of the effect of U.S. federal income taxation upon the Awardee with respect to the grant of restricted
shares under the Plan. It does not purport to be a complete discussion of the U.S. federal income tax consequences. It does not
discuss the income tax laws of any state, municipality, or foreign country in which the Awardee's income or gain may be taxable.
In any event, the Awardee is hereby advised to consult its own tax advisor as to the consequences of making an 83(b) Election.
If the Awardee desires to make an 83(b) Election, then it is the Awardee's responsibility to timely make a valid election.


 


2.11 Plan.
This Stock Award Agreement is subject to all provisions of the Plan, receipt of a copy of which is hereby acknowledged by the Awardee.
The Awardee shall accept as binding, conclusive, and final all decisions and interpretations of the Administrator upon any questions
arising under the Plan and this Stock Award Agreement.


 


2.12 Successors.
This Stock Award Agreement shall inure to the benefit of and be binding upon the parties hereto and their legal representatives,
heirs, and permitted successors and assigns.


 


2.13 Restrictions
on Resale. The Awardee agrees not to sell any Shares at a time when Applicable Laws, Company policies, or an agreement between
the Company and its underwriters prohibit a sale. This restriction shall apply as long as the Awardee is a Service Provider and
for such period after the Awardee's Termination of Service as the Administrator may specify.


 


2.14 Lock-Up
Agreement. In connection with any underwritten public offering of Shares made by the Company pursuant to a registration statement
filed under the Securities Act, the Awardee shall not offer, sell, contract to sell, pledge, hypothecate, grant any option to purchase
or make any short sale of, or otherwise dispose of any Shares or any rights to acquire Shares of the Company for such period beginning
on the date of filing of such registration statement with the Securities and Exchange Commission and ending at the time as may
be established by the underwriters for such public offering; provided, however, that such period shall end not later than
180 days from the effective date of such registration statement. The foregoing limitation shall not apply to shares registered
for sale in such public offering.


 


2.15 Entire
Agreement; Governing Law. This Stock Award Agreement and the Plan constitute the entire agreement of the parties with respect
to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and the Awardee
with respect to the subject matter hereof, and may not be modified adversely to the Awardee's interest except by means of a writing
signed by the Company and the Awardee. This Stock Award Agreement is governed by the internal substantive laws, but not the choice
of law rules, of Delaware.


 


2.16 No
Guarantee of Continued Service. The vesting of the Shares pursuant to the vesting schedule hereof is earned only by continuing
as a Service Provider at the will of the Company (and not through the act of being hired, being granted shares, or purchasing Shares
hereunder). This Stock Award Agreement, the transactions contemplated hereunder, and the vesting schedule set forth herein constitute
neither an express nor implied promise of continued engagement as a Service Provider for the vesting period, for any period, or
at all, and shall not interfere with Awardee's right or the Company's right to terminate Awardee's relationship as a Service Provider
at any time, with or without Cause.


 


By the Awardee's
signature and the signature of the Company's representative below, the Awardee and the Company agree that this Award is granted
under and governed by the terms and conditions of this Stock Award Agreement and the Plan. The Awardee has reviewed this Stock
Award Agreement and the Plan in their entirety, has had an opportunity to obtain the advice of counsel before executing this Stock
Award Agreement and fully understands all provisions of this Stock Award Agreement and the Plan. The Awardee hereby agrees to accept
as binding, conclusive, and final all decisions or interpretations of the Administrator upon any questions relating to this Stock
Award Agreement and the Plan.


 


The Awardee further
agrees that the Company may deliver by email all documents relating to the Plan or this Award (including prospectuses required
by the Securities and Exchange Commission) and all other documents that the Company is required to deliver to its security Awardees
(including annual reports and proxy statements). The Awardee also agrees that the Company may deliver these documents by posting
them on a web site maintained by the Company or by a third party under contract with the Company.


 


	 	 
	
        AWARDEE:

         

        _________________________________

        Signature

        _________________________________

        Printed Name

        _________________________________

        Residence Address
	
        CABINET GROW, INC.

         

        By:_________________________________   

        Its:_________________________________