Document:

tm2025258-5_defm14a_DIV_ex-10x10 - none - 1.752997s

    
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        Exhibit
        10.12​

        
          CHURCHILL CAPITAL CORP III
          

          2020 OMNIBUS INCENTIVE PLAN 
        

        
          1.   Purpose.   The purpose of the Churchill Capital Corp III 2020 Omnibus Incentive Plan is to provide a means through which the Company and the other members of the Company Group may attract and retain key personnel and to provide a means whereby directors, officers, employees, consultants and advisors of the Company and the other members of the Company Group can acquire and maintain an equity interest in the Company, or be paid incentive compensation, including incentive compensation measured by reference to the value of Common Stock, thereby strengthening their commitment to the welfare of the Company Group and aligning their interests with those of the Company’s stockholders. 
        

        
          2.   Definitions.   The following definitions shall be applicable throughout the Plan. 
        

        
          (a)   “Adjustment Event” has the meaning given to such term in Section 11(a) of the Plan. 
        

        
          (b)   “Affiliate” means any Person that directly or indirectly controls, is controlled by or is under common control with the Company. The term “control” (including, with correlative meaning, the terms “controlled by” and “under common control with”), as applied to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting or other securities, by contract or otherwise. 
        

        
          (c)   “Applicable Law” means each applicable law, rule, regulation and requirement, including, but not limited to, each applicable U.S. federal, state or local law, any rule or regulation of the applicable securities exchange or inter-dealer quotation system on which the securities of the Company may be listed or quoted and each applicable law, rule or regulation of any other country or jurisdiction where Awards are granted under the Plan or Participants reside or provide services, as each such laws, rules and regulations shall be in effect from time to time. 
        

        
          (d)   “Award” means, individually or collectively, any Incentive Stock Option, Nonqualified Stock Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Other Equity-Based Award and Cash-Based Incentive Award granted under the Plan. 
        

        
          (e)   “Award Agreement” means the document or documents by which each Award (other than a Cash-Based Incentive Award) is evidenced, which may be in written or electronic form. 
        

        
          (f)   “Board” means the Board of Directors of the Company. 
        

        
          (g)   “Cash-Based Incentive Award” means an Award, denominated in cash, that is granted under Section 10 of the Plan. 
        

        
          (h)   “Cause” means, as to any Participant, unless the applicable Award Agreement states otherwise, (i) “Cause,” as defined in any employment, severance, consulting or other similar agreement between the Participant and the Service Recipient in effect at the time of such Termination; or (ii) in the absence of any such employment, severance, consulting or other similar agreement (or the absence of any definition of “Cause” contained therein), the Participant’s (A) willful neglect in the performance of the Participant’s duties for the Service Recipient or willful or repeated failure or refusal to perform such duties; (B) engagement in conduct in connection with the Participant’s employment or service with the Service Recipient, which results in, or could reasonably be expected to result in, material harm to the business or reputation of the Service Recipient or any other member of the Company Group; (C) conviction of, or plea of guilty or no contest to, (I) any felony or (II) any other crime that results in, or could reasonably be expected to result in, material harm to the business or reputation of the Service Recipient or any other member of the Company Group; (D) (i) the disclosure or misuse of confidential information (including, but limited to, pursuant to the Proprietary Information and Inventions Agreement) or (ii) material violation of the written policies of the Service Recipient, including, but not limited to, those relating to sexual harassment, or those set forth in the manuals or statements of policy of the Service Recipient; (E) fraud or misappropriation, embezzlement or misuse of funds or property belonging to the Service Recipient or any other member of the Company Group; or (F) act of personal dishonesty that involves personal profit in connection with the Participant’s 
        

      

      
        
           
          

        

      

      
        
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          employment or service to the Service Recipient; provided, in any case, that a Participant’s resignation after an event that would be grounds for a Termination for Cause will be treated as a Termination for Cause hereunder. 
        

        
          (i)   “Change in Control” means: 
        

        
          (i)   the acquisition (whether by purchase, merger, consolidation, combination or other similar transaction) by any Person of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 50% (on a fully diluted basis) of either (A) the Outstanding Common Stock; or (B) the Outstanding Company Voting Securities; provided, however, that for purposes of the Plan, the following acquisitions shall not constitute a Change in Control: (I) any acquisition by the Company or any Affiliate; (II) any acquisition by any employee benefit plan sponsored or maintained by the Company or any Affiliate; or (III) in respect of an Award held by a particular Participant, any acquisition by the Participant or any group of Persons including the Participant (or any entity controlled by the Participant or any group of Persons including the Participant); 
        

        
          (ii)   during any period of 12 months, individuals who, at the beginning of such period, constitute the Board (the “Incumbent Directors”) cease for any reason to constitute at least a majority of the Board, provided that any person becoming a director subsequent to the Effective Date, whose election or nomination for election was approved by a vote of at least two-thirds of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for director, without written objection to such nomination) shall be an Incumbent Director; provided, however, that no individual initially elected or nominated as a director of the Company as a result of an actual or threatened election contest, as such terms are used in Rule 14a-12 of Regulation 14A promulgated under the Exchange Act, with respect to directors or as a result of any other actual or threatened solicitation of proxies or consents by or on behalf of any person other than the Board shall be deemed to be an Incumbent Director; 
        

        
          (iii)   the consummation of a reorganization, recapitalization, merger, consolidation, or similar corporate transaction involving the Company that requires the approval of the Company’s stockholders (a “Business Combination”), unless immediately following such Business Combination: more than 50% of the total voting power of (A) the entity resulting from such Business Combination (the “Surviving Company”), or (B) if applicable, the ultimate parent entity that directly or indirectly has beneficial ownership of sufficient voting securities eligible to elect a majority of the board of directors (or the analogous governing body) of the Surviving Company, is represented by the Outstanding Company Voting Securities that were outstanding immediately prior to such Business Combination (or, if applicable, is represented by shares into which the Outstanding Company Voting Securities were converted pursuant to such Business Combination); or 
        

        
          (iv)   the sale, transfer or other disposition of all or substantially all of the assets of the Company Group (taken as a whole) to any Person that is not an Affiliate of the Company. 
        

        
          (j)   “Code” means the Internal Revenue Code of 1986, as amended, and any successor thereto. Reference in the Plan to any section of the Code shall be deemed to include any regulations or other interpretative guidance under such section, and any amendments or successor provisions to such section, regulations or guidance. 
        

        
          (k)   “Committee” means the Compensation Committee of the Board or any properly delegated subcommittee thereof or, if no such Compensation Committee or subcommittee thereof exists, the Board. 
        

        
          (l)   “Common Stock” means the common stock of the Company, par value $0.01 per share (and any stock or other securities into which such Common Stock may be converted or into which it may be exchanged). 
        

        
          (m)   “Company” means Churchill Capital Corp III, a Delaware corporation, and any successor thereto. 
        

        
          (n)   “Company Group” means, collectively, the Company and its Subsidiaries. 
        

      

      
        
           
          

        

      

      
        
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          (o)   “Date of Grant” means the date on which the granting of an Award is authorized, or such other date as may be specified in such authorization. 
        

        
          (p)   “Designated Foreign Subsidiaries” means all members of the Company Group that are organized under the laws of any jurisdiction other than the United States of America. 
        

        
          (q)   “Detrimental Activity” means any of the following: (i) unauthorized disclosure or use of any confidential or proprietary information of any member of the Company Group; (ii) any activity that would be grounds to terminate the Participant’s employment or service with the Service Recipient for Cause; (iii) a breach by the Participant of any restrictive covenant by which such Participant is bound, including, without limitation, any covenant not to compete or not to solicit, in any agreement with any member of the Company Group; or (iv) fraud or conduct contributing to any financial restatements or irregularities, in each case, as determined by the Committee in its sole discretion. 
        

        
          (r)   “Disability” means, as to any Participant, unless the applicable Award Agreement states otherwise, (i) “Disability,” as defined in any employment, severance, consulting or other similar agreement between the Participant and the Service Recipient in effect at the time of such Termination; or (ii) in the absence of any such employment, severance, consulting or other similar agreement (or the absence of any definition of “Disability” contained therein), a condition entitling the Participant to receive benefits under a long-term disability plan of the Service Recipient or other member of the Company Group in which such Participant is eligible to participate, or, in the absence of such a plan, the complete and permanent inability of the Participant by reason of illness or accident to perform the duties of the position at which the Participant was employed or served when such disability commenced. Any determination of whether Disability exists in the absence of a long-term disability plan shall be made by the Company (or its designee) in its sole and absolute discretion. 
        

        
          (s)   “Effective Date” means the “Closing Date” as defined in that certain Agreement and Plan of Merger, dated July 12, 2020, by and among the Company, Polaris Parent Corp., a Delaware corporation, Polaris Investment Holdings, L.P., a Delaware limited partnership, Music Merger Sub I, Inc., a Delaware corporation, and Music Merger Sub II LLC, a Delaware limited liability company. 
        

        
          (t)   “Eligible Person” means: any (i) individual employed by any member of the Company Group; provided, however, that no such U.S. employee covered by a collective bargaining agreement shall be an Eligible Person unless and to the extent that such eligibility is set forth in such collective bargaining agreement or in an agreement or instrument relating thereto; (ii) director or officer of any member of the Company Group; or (iii) consultant or advisor to any member of the Company Group who may be offered securities registrable pursuant to a registration statement on Form S-8 under the Securities Act, who, in the case of each of clauses (i) through (iii) above, has entered into an Award Agreement or who has received written notification from the Committee or its designee that they have been selected to participate in the Plan. 
        

        
          (u)   “Exchange Act” means the Securities Exchange Act of 1934, as amended, and any successor thereto. Reference in the Plan to any section of (or rule promulgated under) the Exchange Act shall be deemed to include any rules, regulations or other interpretative guidance under such section or rule, and any amendments or successor provisions to such section, rules, regulations or guidance. 
        

        
          (v)   “Exercise Price” has the meaning given to such term in Section 7(b) of the Plan. 
        

        
          (w)   “Fair Market Value” means, as of any date, the fair market value of a share of Common Stock, as reasonably determined by the Company and consistently applied for purposes of the Plan, which may include, without limitation, the closing sales price on the trading day immediately prior to or on such date, or a trailing average of previous closing prices prior to such date. 
        

        
          (x)   “GAAP” has the meaning given to such term in Section 7(d) of the Plan. 
        

        
          (y)   “Grant Date Fair Market Value” means, as of a Date of Grant, (i) if the Common Stock is listed on a national securities exchange, the closing sales price of the Common Stock reported on the primary exchange on which the Common Stock is listed and traded on such date, or, if there are no such sales on that date, then on the last preceding date on which such sales were reported; (ii) if the Common Stock is not listed on any national securities exchange but is quoted in an inter-dealer quotation system on a last-sale basis, 
        

      

      
        
           
          

        

      

      
        
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          the average between the closing bid price and ask price reported on such date, or, if there is no such sale on that date, then on the last preceding date on which a sale was reported; or (iii) if the Common Stock is not listed on a national securities exchange or quoted in an inter-dealer quotation system on a last-sale basis, the amount determined by the Committee in good faith to be the fair market value of the Common Stock. 
        

        
          (z)   “Immediate Family Members” has the meaning given to such term in Section 13(b)(ii) of the Plan. 
        

        
          (aa)   “Incentive Stock Option” means an Option which is designated by the Committee as an incentive stock option as described in Section 422 of the Code and otherwise meets the requirements set forth in the Plan. 
        

        
          (bb)   “Indemnifiable Person” has the meaning given to such term in Section 4(e) of the Plan. 
        

        
          (cc)   “Non-Employee Director” means a member of the Board who is not an employee of any member of the Company Group. 
        

        
          (dd)   “Nonqualified Stock Option” means an Option which is not designated by the Committee as an Incentive Stock Option. 
        

        
          (ee)   “Option” means an Award granted under Section 7 of the Plan. 
        

        
          (ff)   “Option Period” has the meaning given to such term in Section 7(c)(ii) of the Plan. 
        

        
          (gg)   “Other Equity-Based Award” means an Award that is not an Option, Cash-Based Incentive Award, Restricted Stock or Restricted Stock Unit, that is granted under Section 9 of the Plan and is (i) payable by delivery of Common Stock and/or (ii) measured by reference to the value of Common Stock. 
        

        
          (hh)   “Outstanding Common Stock” means the then-outstanding shares of Common Stock, taking into account as outstanding for this purpose such Common Stock issuable upon the exercise of options or warrants, the conversion of convertible stock or debt, the exercise of any similar right to acquire such Common Stock, and the exercise or settlement of then-outstanding Awards (or similar awards under any prior incentive plans maintained by the Company). 
        

        
          (ii)   “Outstanding Company Voting Securities” means the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors. 
        

        
          (jj)   “Participant” means an Eligible Person who has been selected by the Committee to participate in the Plan and to receive an Award pursuant to the Plan. 
        

        
          (kk)   “Performance Conditions” means specific levels of performance of the Company (and/or one or more members of the Company Group, divisions or operational and/or business units, product lines, brands, business segments, administrative departments, or any combination of the foregoing), which may be determined in accordance with GAAP or on a non-GAAP basis on, without limitation, the following measures: (i) net earnings, net income (before or after taxes), or consolidated net income; (ii) basic or diluted earnings per share (before or after taxes); (iii) net revenue or net revenue growth; (iv) gross revenue or gross revenue growth, gross profit or gross profit growth; (v) net operating profit (before or after taxes); (vi) return measures (including, but not limited to, return on investment, assets, capital, employed capital, invested capital, equity, or sales); (vii) cash flow measures (including, but not limited to, operating cash flow, free cash flow, or cash flow return on capital), which may be but are not required to be measured on a per share basis; (viii) actual or adjusted earnings before or after interest, taxes, depreciation, and/or amortization (including EBIT and EBITDA); (ix) gross or net operating margins; (x) productivity ratios; (xi) share price (including, but not limited to, growth measures and total stockholder return); (xii) expense targets or cost reduction goals, general and administrative expense savings; (xiii) operating efficiency; (xiv) objective measures of customer/client satisfaction; (xv) working capital targets; (xvi) measures of economic value added or other ‘value creation’ metrics; (xvii) enterprise value; (xviii) sales; (xix) stockholder return; (xx) customer/client retention; (xxi) competitive market metrics; (xxii) employee retention; (xxiii) objective measures of personal targets, goals, or completion of projects (including, but not limited to, succession and hiring projects, completion of specific acquisitions, dispositions, reorganizations, or other corporate transactions or capital-raising transactions, expansions of specific business operations, and meeting divisional 
        

      

      
        
           
          

        

      

      
        
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          or project budgets); (xxiv) comparisons of continuing operations to other operations; (xxv) market share; (xxvi) cost of capital, debt leverage, year-end cash position or book value; (xxvii) strategic objectives; (xxviii) gross or net authorizations; (xxix) backlog; or (xxx) any combination of the foregoing. Any one or more of the aforementioned performance criteria may be stated as a percentage of another performance criteria, or used on an absolute or relative basis to measure the performance of one or more members of the Company Group as a whole or any divisions or operational and/or business units, product lines, brands, business segments, or administrative departments of the Company and/or one or more members of the Company Group or any combination thereof, as the Committee may deem appropriate, or any of the above performance criteria may be compared to the performance of a selected group of comparison companies, or a published or special index that the Committee, in its sole discretion, deems appropriate, or as compared to various stock market indices. 
        

        
          (ll)   “Permitted Transferee” has the meaning given to such term in Section 13(b)(ii) of the Plan. 
        

        
          (mm)   “Person” means any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act). 
        

        
          (nn)   “Plan” means this Churchill Capital Corp III 2020 Omnibus Incentive Plan, as it may be amended and/or restated from time to time. 
        

        
          (oo)   “Plan Share Reserve” has the meaning given to such term in Section 6(a) of the Plan. 
        

        
          (pp)   “Qualifying Director” means a Person who is, with respect to actions intended to obtain an exemption from Section 16(b) of the Exchange Act pursuant to Rule 16b-3 under the Exchange Act, a “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act. 
        

        
          (qq)   “Restricted Period” means the period of time determined by the Committee during which an Award is subject to restrictions, including vesting conditions. 
        

        
          (rr)   “Restricted Stock” means Common Stock, subject to certain specified restrictions (which may include, without limitation, a requirement that the Participant remain continuously employed or provide continuous services for a specified period of time), granted under Section 8 of the Plan. 
        

        
          (ss)   “Restricted Stock Unit” means an unfunded and unsecured promise to deliver shares of Common Stock, cash, other securities or other property, subject to certain restrictions (which may include, without limitation, a requirement that the Participant remain continuously employed or provide continuous services for a specified period of time), granted under Section 8 of the Plan. 
        

        
          (tt)   “Securities Act” means the Securities Act of 1933, as amended, and any successor thereto. Reference in the Plan to any section of (or rule promulgated under) the Securities Act shall be deemed to include any rules, regulations or other interpretative guidance under such section or rule, and any amendments or successor provisions to such section, rules, regulations or guidance. 
        

        
          (uu)   “Service Recipient” means, with respect to a Participant holding a given Award, the member of the Company Group by which the original recipient of such Award is, or following a Termination was most recently, principally employed or to which such original recipient provides, or following a Termination was most recently providing, services, as applicable. 
        

        
          (vv)   “SAR Base Price” means, as to any Stock Appreciation Right, the price per share of Common Stock designated as the base value above which appreciation in value is measured. 
        

        
          (ww)   “Stock Appreciation Right” or “SAR” means an Other-Equity Based Award designated in an applicable Award Agreement as a stock appreciation right. 
        

        
          (xx)   “Sub-Plans” means any sub-plan to the Plan that has been adopted by the Board or the Committee for the purpose of permitting or facilitating the offering of Awards to employees of certain Designated Foreign Subsidiaries or otherwise outside the jurisdiction of the United States of America, with each such Sub-Plan designed to comply with Applicable Law in such foreign jurisdictions. Although any Sub-Plan may be designated a separate and independent plan from the Plan in order to comply with Applicable Law, the 
        

      

      
        
           
          

        

      

      
        
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          Plan Share Reserve and the other limits specified in Section 6(a) of the Plan shall apply in the aggregate to the Plan and any Sub-Plan adopted hereunder. 
        

        
          (yy)   “Subsidiary” means, with respect to any specified Person: 
        

        
          (i)   any corporation, association or other business entity of which more than 50% of the total voting power of shares of such entity’s voting securities (without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement that effectively transfers voting power) is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and 
        

        
          (ii)   any partnership (or any comparable foreign entity) (A) the sole general partner (or functional equivalent thereof) or the managing general partner of which is such Person or Subsidiary of such Person or (B) the only general partners (or functional equivalents thereof) of which are that Person or one or more Subsidiaries of that Person (or any combination thereof). 
        

        
          (zz)   “Substitute Awards” has the meaning given to such term in Section 6(e) of the Plan. 
        

        
          (aaa)   “Termination” means the termination of a Participant’s employment or service, as applicable, with the Service Recipient for any reason (including death or Disability). 
        

        
          3.   Effective Date; Duration.   The Plan shall be effective as of the Effective Date. The expiration date of the Plan, on and after which date no Awards may be granted hereunder, shall be the 10th anniversary of the Effective Date; provided, however, that such expiration shall not affect Awards then outstanding, and the terms and conditions of the Plan shall continue to apply to such Awards. 
        

        
          4.   Administration. 
        

        
          (a)   General.   The Committee shall administer the Plan. To the extent required to comply with the provisions of Rule 16b-3 promulgated under the Exchange Act (if the Board is not acting as the Committee under the Plan) it is intended that each member of the Committee shall, at the time such member takes any action with respect to an Award under the Plan that is intended to qualify for the exemptions provided by Rule 16b-3 promulgated under the Exchange Act be a Qualifying Director. However, the fact that a Committee member shall fail to qualify as a Qualifying Director shall not invalidate any Award granted by the Committee that is otherwise validly granted under the Plan. 
        

        
          (b)   Committee Authority.   Subject to the provisions of the Plan and Applicable Law, the Committee shall have the sole and plenary authority, in addition to other express powers and authorizations conferred on the Committee by the Plan, to (i) designate Participants; (ii) determine the type or types of Awards to be granted to a Participant; (iii) determine the number of shares of Common Stock to be covered by, or with respect to which payments, rights, or other matters are to be calculated in connection with, Awards; (iv) determine the terms and conditions of any Award; (v) determine whether, to what extent, and under what circumstances Awards may be settled in, or exercised for, cash, shares of Common Stock, other securities, other Awards or other property, or canceled, forfeited, or suspended and the method or methods by which Awards may be settled, exercised, canceled, forfeited, or suspended; (vi) determine whether, to what extent, and under what circumstances the delivery of cash, shares of Common Stock, other securities, other Awards, or other property and other amounts payable with respect to an Award shall be deferred either automatically or at the election of the Participant or of the Committee; (vii) interpret, administer, reconcile any inconsistency in, correct any defect in and/or supply any omission in the Plan and any instrument or agreement relating to, or Award granted under, the Plan; (viii) establish, amend, suspend, or waive any rules and regulations and appoint such agents as the Committee shall deem appropriate for the proper administration of the Plan; (ix) adopt Sub-Plans; and (x) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan. 
        

        
          (c)   Delegation.   Except to the extent prohibited by Applicable Law, the Committee may allocate all or any portion of its responsibilities and powers to any one or more of its members and may delegate all or any part of its responsibilities and powers to any Person or Persons selected by it. Any such allocation or delegation may be revoked by the Committee at any time. Without limiting the generality 
        

      

      
        
           
          

        

      

      
        
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          of the foregoing, the Committee may delegate to one or more officers of any member of the Company Group, the authority to act on behalf of the Committee with respect to any matter, right, obligation, or election which is the responsibility of, or which is allocated to, the Committee herein, and which may be so delegated in accordance with Applicable Law, except with respect to grants of Awards to Persons (i) who are Non-Employee Directors, or (ii) who are subject to Section 16 of the Exchange Act. 
        

        
          (d)   Finality of Decisions.   Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations, and other decisions under or with respect to the Plan, any Award or any Award Agreement shall be within the sole discretion of the Committee, may be made at any time and shall be final, conclusive and binding upon all Persons, including, without limitation, any member of the Company Group, any Participant, any holder or beneficiary of any Award, and any stockholder of the Company. 
        

        
          (e)   Indemnification.   No member of the Board or the Committee or any employee or agent of any member of the Company Group (each such Person, an “Indemnifiable Person”) shall be liable for any action taken or omitted to be taken or any determination made with respect to the Plan or any Award hereunder (unless constituting fraud or a willful criminal act or omission). Each Indemnifiable Person shall be indemnified and held harmless by the Company against and from any loss, cost, liability, or expense (including attorneys’ fees) that may be imposed upon or incurred by such Indemnifiable Person in connection with or resulting from any action, suit or proceeding to which such Indemnifiable Person may be a party or in which such Indemnifiable Person may be involved by reason of any action taken or omitted to be taken or determination made with respect to the Plan or any Award hereunder and against and from any and all amounts paid by such Indemnifiable Person with the Company’s approval, in settlement thereof, or paid by such Indemnifiable Person in satisfaction of any judgment in any such action, suit or proceeding against such Indemnifiable Person, and the Company shall advance to such Indemnifiable Person any such expenses promptly upon written request (which request shall include an undertaking by the Indemnifiable Person to repay the amount of such advance if it shall ultimately be determined, as provided below, that the Indemnifiable Person is not entitled to be indemnified); provided, that the Company shall have the right, at its own expense, to assume and defend any such action, suit or proceeding and once the Company gives notice of its intent to assume the defense, the Company shall have sole control over such defense with counsel of the Company’s choice. The foregoing right of indemnification shall not be available to an Indemnifiable Person to the extent that a final judgment or other final adjudication (in either case not subject to further appeal) binding upon such Indemnifiable Person determines that the acts, omissions or determinations of such Indemnifiable Person giving rise to the indemnification claim resulted from such Indemnifiable Person’s fraud or willful criminal act or omission or that such right of indemnification is otherwise prohibited by Applicable Law or by the organizational documents of any member of the Company Group. The foregoing right of indemnification shall not be exclusive of or otherwise supersede any other rights of indemnification to which such Indemnifiable Persons may be entitled under (i) the organizational documents of any member of the Company Group, (ii) pursuant to Applicable Law, (iii) an individual indemnification agreement or contract or otherwise, or (iv) any other power that the Company may have to indemnify such Indemnifiable Persons or hold such Indemnifiable Persons harmless. 
        

        
          (f)   Board Authority.   Notwithstanding anything to the contrary contained in the Plan, the Board may, in its sole discretion, at any time and from time to time, grant Awards and administer the Plan with respect to such Awards. Any such actions by the Board shall be subject to the applicable rules of the securities exchange or inter-dealer quotation system on which the Common Stock is listed or quoted. In any such case, the Board shall have all the authority granted to the Committee under the Plan. 
        

        
          5.   Grants of Awards; Eligibility.   The Committee may, from time to time, grant Awards to one or more Eligible Persons. Participation in the Plan shall be limited to Eligible Persons. 
        

      

      
        
           
          

        

      

      
        
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          6.   Shares Subject to the Plan; Limitations. 
        

        
          (a)   Share Reserve.   Subject to Section 11 of the Plan, 85,850,000 shares of Common Stock (the “Plan Share Reserve”) shall be available for Awards under the Plan. Each Award granted under the Plan will reduce the Plan Share Reserve by the number of shares of Common Stock underlying the Award. 
        

        
          (b)   Additional Limits.   Subject to Section 11 of the Plan, (i) no more than the number of shares of Common Stock equal to the Plan Share Reserve may be issued in the aggregate pursuant to the exercise of Incentive Stock Options granted under the Plan; and (ii) during a single fiscal year, the number of Awards eligible to be made to Non-Employee Director, taken together with any cash fees paid to such Non-Employee Director during such fiscal year, shall not exceed a total value of $1,500,000 (calculating the value of any such Awards based on the grant date fair value of such Awards for financial reporting purposes). 
        

        
          (c)   Share Counting.   Other than with respect to Substitute Awards, to the extent that an Award expires or is canceled, forfeited, or terminated without issuance to the Participant of the full number of shares of Common Stock to which the Award related, the unissued shares underlying such Award will be returned to the Plan Share Reserve and again be available for grant under the Plan. Shares of Common Stock shall be deemed to have been issued in settlement of Awards if the Fair Market Value equivalent of such shares is paid in cash; provided, however, that no shares shall be deemed to have been issued in settlement of a SAR, Other Equity-Based Award or Restricted Stock Unit that only provides for settlement in, and settles only in, cash, or in respect of any Cash-Based Incentive Award. Shares of Common Stock withheld in payment of the Exercise Price or taxes relating to an Award and shares equal to the number of shares of Common Stock surrendered in payment of any Exercise Price, SAR Base Price, or taxes relating to an Award shall constitute shares of Common Stock issued to the Participant and shall reduce the Plan Share Reserve. 
        

        
          (d)   Source of Shares.   Shares of Common Stock issued by the Company in settlement of Awards may be authorized and unissued shares, shares of Common Stock held in the treasury of the Company, shares of Common Stock purchased on the open market or by private purchase or a combination of the foregoing. 
        

        
          (e)   Substitute Awards.   Awards may, in the sole discretion of the Committee, be granted under the Plan in assumption of, or in substitution for, outstanding awards previously granted by an entity directly or indirectly acquired by the Company or with which the Company combines (“Substitute Awards”). Substitute Awards shall not be counted against the Plan Share Reserve; provided, that Substitute Awards issued in connection with the assumption of, or in substitution for, outstanding options intended to qualify as “incentive stock options” within the meaning of Section 422 of the Code shall be counted against the aggregate number of shares of Common Stock available for Awards of Incentive Stock Options under the Plan. Subject to applicable stock exchange requirements, available shares under a stockholder-approved plan of an entity directly or indirectly acquired by the Company or with which the Company combines (as appropriately adjusted to reflect the acquisition or combination transaction) may be used for Awards under the Plan and shall not reduce the number of shares of Common Stock available for issuance under the Plan. 
        

        
          7.   Options. 
        

        
          (a)   General.   Each Option granted under the Plan shall be evidenced by an Award Agreement, which agreement need not be the same for each Participant. Each Option so granted shall be subject to the conditions set forth in this Section 7, and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. All Options granted under the Plan shall be Nonqualified Stock Options unless the applicable Award Agreement expressly states that the Option is intended to be an Incentive Stock Option. Incentive Stock Options shall be granted only to Eligible Persons who are employees of a member of the Company Group, and no Incentive Stock Option shall be granted to any Eligible Person who is ineligible to receive an Incentive Stock Option under the Code. No Option shall be treated as an Incentive Stock Option unless the Plan has been approved by the stockholders of the Company in a manner intended to comply with the stockholder approval requirements of Section 422(b)(1) of the Code; provided, that any Option intended to be an Incentive 
        

      

      
        
           
          

        

      

      
        
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          Stock Option shall not fail to be effective solely on account of a failure to obtain such approval, but rather such Option shall be treated as a Nonqualified Stock Option unless and until such approval is obtained. In the case of an Incentive Stock Option, the terms and conditions of such grant shall be subject to, and comply with, such rules as may be prescribed by Section 422 of the Code. If for any reason an Option intended to be an Incentive Stock Option (or any portion thereof) shall not qualify as an Incentive Stock Option, then, to the extent of such nonqualification, such Option or portion thereof shall be regarded as a Nonqualified Stock Option appropriately granted under the Plan. 
        

        
          (b)   Exercise Price.   Except as otherwise provided by the Committee in the case of Substitute Awards, the exercise price (“Exercise Price”) per share of Common Stock for each Option shall not be less than 100% of the Grant Date Fair Market Value of such share; provided, however, that in the case of an Incentive Stock Option granted to an employee who, at the time of the grant of such Option, owns stock representing more than 10% of the voting power of all classes of stock of any member of the Company Group, the Exercise Price per share shall be no less than 110% of the Grant Date Fair Market Value per share. 
        

        
          (c)   Vesting and Expiration; Termination. 
        

        
          (i)   Options shall vest and become exercisable in such manner and on such date or dates or upon such event or events as determined by the Committee, including, without limitation, satisfaction of Performance Conditions; provided, however, that notwithstanding any such vesting dates or events, the Committee may in its sole discretion accelerate the vesting of any Options at any time and for any reason. 
        

        
          (ii)   Options shall expire upon a date determined by the Committee, not to exceed 10 years from the Date of Grant (the “Option Period”); provided, that if the Option Period (other than in the case of an Incentive Stock Option) would expire at a time when trading in the shares of Common Stock is prohibited by the Company’s insider trading policy (or Company-imposed “blackout period”), then the Option Period shall be automatically extended until the 30th day following the expiration of such prohibition. Notwithstanding the foregoing, in no event shall the Option Period exceed five years from the Date of Grant in the case of an Incentive Stock Option granted to a Participant who on the Date of Grant owns stock representing more than 10% of the voting power of all classes of stock of any member of the Company Group. 
        

        
          (iii)   Unless otherwise provided by the Committee, whether in an Award Agreement or otherwise, in the event of: (A) a Participant’s Termination by the Service Recipient for Cause, all outstanding Options granted to such Participant shall immediately terminate and expire; (B) a Participant’s Termination due to death or Disability, each outstanding unvested Option granted to such Participant shall immediately terminate and expire, and each outstanding vested Option shall remain exercisable for one year thereafter (but in no event beyond the expiration of the Option Period); and (C) a Participant’s Termination for any other reason, each outstanding unvested Option granted to such Participant shall immediately terminate and expire, and each outstanding vested Option shall remain exercisable for 90 days thereafter (but in no event beyond the expiration of the Option Period). 
        

        
          (d)   Method of Exercise and Form of Payment.   No shares of Common Stock shall be issued pursuant to any exercise of an Option until payment in full of the Exercise Price therefor is received by the Company and the Participant has paid to the Company an amount equal to any Federal, state, local and non-U.S. income, employment and any other applicable taxes that are statutorily required to be withheld as determined in accordance with Section 13(d) hereof. Options which have become exercisable may be exercised by delivery of written or electronic notice of exercise to the Company (or telephonic instructions to the extent provided by the Committee) in accordance with the terms of the Option accompanied by payment of the Exercise Price. The Exercise Price shall be payable: (i) in cash, check, cash equivalent and/or shares of Common Stock valued at the Fair Market Value at the time the Option is exercised (including, pursuant to procedures approved by the Committee, by means of attestation of ownership of a sufficient number of shares of Common Stock in lieu of actual issuance of such shares to the Company); provided, that such shares of Common Stock are not subject to any pledge or other security interest and have been held by the Participant for at least six months (or such 
        

      

      
        
           
          

        

      

      
        
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          other period as established from time to time by the Committee in order to avoid adverse accounting treatment applying generally accepted accounting principles (“GAAP”)); or (ii) by such other method as the Committee may permit, in its sole discretion, including, without limitation (A) in other property having a fair market value on the date of exercise equal to the Exercise Price; (B) if there is a public market for the shares of Common Stock at such time, by means of a broker-assisted “cashless exercise” pursuant to which the Company is delivered (including telephonically to the extent permitted by the Committee) a copy of irrevocable instructions to a stockbroker to sell the shares of Common Stock otherwise issuable upon the exercise of the Option and to deliver promptly to the Company an amount equal to the Exercise Price; or (C) a “net exercise” procedure effected by withholding the minimum number of shares of Common Stock otherwise issuable in respect of an Option that are needed to pay the Exercise Price and any Federal, state, local and non-U.S. income, employment and any other applicable taxes that are statutorily required to be withheld as determined in accordance with Section 13(d) hereof. Any fractional shares of Common Stock shall be settled in cash. 
        

        
          (e)   Notification upon Disqualifying Disposition of an Incentive Stock Option.   Each Participant awarded an Incentive Stock Option under the Plan shall notify the Company in writing immediately after the date the Participant makes a disqualifying disposition of any shares of Common Stock acquired pursuant to the exercise of such Incentive Stock Option. A disqualifying disposition is any disposition (including, without limitation, any sale) of such shares of Common Stock before the later of (i) the date that is two years after the Date of Grant of the Incentive Stock Option or (ii) the date that is one year after the date of exercise of the Incentive Stock Option. The Company may, if determined by the Committee and in accordance with procedures established by the Committee, retain possession, as agent for the applicable Participant, of any shares of Common Stock acquired pursuant to the exercise of an Incentive Stock Option until the end of the period described in the preceding sentence, subject to complying with any instructions from such Participant as to the sale of such shares of Common Stock. 
        

        
          (f)   Compliance With Laws, etc.   Notwithstanding the foregoing, in no event shall a Participant be permitted to exercise an Option in a manner which the Committee determines would violate the Sarbanes-Oxley Act of 2002, as it may be amended from time to time, or any other Applicable Law. 
        

        
          8.   Restricted Stock and Restricted Stock Units. 
        

        
          (a)   General.   Each grant of Restricted Stock and Restricted Stock Units shall be evidenced by an Award Agreement. Each Restricted Stock and Restricted Stock Unit so granted shall be subject to the conditions set forth in this Section 8, and to such other conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. 
        

        
          (b)   Stock Certificates and Book-Entry; Escrow or Similar Arrangement.   Upon the grant of Restricted Stock, the Committee shall cause a stock certificate registered in the name of the Participant to be issued or shall cause share(s) of Common Stock to be registered in the name of the Participant and held in book-entry form subject to the Company’s directions and, if the Committee determines that the Restricted Stock shall be held by the Company or in escrow rather than issued to the Participant pending the release of the applicable restrictions, the Committee may require the Participant to additionally execute and deliver to the Company (i) an escrow agreement satisfactory to the Committee, if applicable and (ii) the appropriate stock power (endorsed in blank) with respect to the Restricted Stock covered by such agreement. Subject to the restrictions set forth in this Section 8, Section 13(b) of the Plan and the applicable Award Agreement, a Participant generally shall have the rights and privileges of a stockholder as to shares of Restricted Stock, including, without limitation, the right to vote such Restricted Stock. To the extent shares of Restricted Stock are forfeited, any stock certificates issued to the Participant evidencing such shares shall be returned to the Company, and all rights of the Participant to such shares and as a stockholder with respect thereto shall terminate without further obligation on the part of the Company. A Participant shall have no rights or privileges as a stockholder as to Restricted Stock Units. 
        

        
          (c)   Vesting; Termination. 
        

        
          (i)   Restricted Stock and Restricted Stock Units shall vest, and any applicable Restricted Period shall lapse, in such manner and on such date or dates or upon such event or events as 
        

      

      
        
           
          

        

      

      
        
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          determined by the Committee, including, without limitation, satisfaction of Performance Conditions; provided, however, that, notwithstanding any such dates or events, the Committee may, in its sole discretion, accelerate the vesting of any Restricted Stock or Restricted Stock Unit or the lapsing of any applicable Restricted Period at any time and for any reason. 
        

        
          (ii)   Unless otherwise provided by the Committee, whether in an Award Agreement or otherwise, in the event of a Participant’s Termination for any reason prior to the time that such Participant’s Restricted Stock or Restricted Stock Units, as applicable, have vested, (A) all vesting with respect to such Participant’s Restricted Stock or Restricted Stock Units, as applicable, shall cease and (B) unvested shares of Restricted Stock and unvested Restricted Stock Units, as applicable, shall be forfeited to the Company by the Participant for no consideration as of the date of such Termination. 
        

        
          (d)   Issuance of Restricted Stock and Settlement of Restricted Stock Units. 
        

        
          (i)   Upon the expiration of the Restricted Period with respect to any shares of Restricted Stock, the restrictions set forth in the applicable Award Agreement shall be of no further force or effect with respect to such shares, except as set forth in the applicable Award Agreement. If an escrow arrangement is used, upon such expiration, the Company shall issue to the Participant, or the Participant’s beneficiary, without charge, the stock certificate (or, if applicable, a notice evidencing a book-entry notation) evidencing the shares of Restricted Stock which have not then been forfeited and with respect to which the Restricted Period has expired (rounded down to the nearest full share). 
        

        
          (ii)   Unless otherwise provided by the Committee in an Award Agreement or otherwise, upon the expiration of the Restricted Period with respect to any outstanding Restricted Stock Units, the Company shall issue to the Participant or the Participant’s beneficiary, without charge, one share of Common Stock (or other securities or other property, as applicable) for each such outstanding Restricted Stock Unit; provided, however, that the Committee may, in its sole discretion, elect to (A) pay cash or part cash and part shares of Common Stock in lieu of issuing only shares of Common Stock in respect of such Restricted Stock Units; or (B) defer the issuance of shares of Common Stock (or cash or part cash and part shares of Common Stock, as the case may be) beyond the expiration of the Restricted Period if such extension would not cause adverse tax consequences under Section 409A of the Code. If a cash payment is made in lieu of issuing shares of Common Stock in respect of such Restricted Stock Units, the amount of such payment shall be equal to the Fair Market Value per share of the Common Stock as of the date on which the Restricted Period lapsed with respect to such Restricted Stock Units. 
        

        
          (e)   Legends on Restricted Stock.   Each certificate, if any, or book entry representing Restricted Stock awarded under the Plan, if any, shall bear a legend or book entry notation substantially in the form of the following, in addition to any other information the Company deems appropriate, until the lapse of all restrictions with respect to such shares of Common Stock: 
        

        
          TRANSFER OF THIS CERTIFICATE AND THE SHARES REPRESENTED HEREBY IS RESTRICTED PURSUANT TO THE TERMS OF THE CHURCHILL CAPITAL CORP III 2020 OMNIBUS INCENTIVE PLAN AND A RESTRICTED STOCK AWARD AGREEMENT BETWEEN CHURCHILL CAPITAL CORP III AND THE PARTICIPANT. A COPY OF SUCH PLAN AND AWARD AGREEMENT IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICES OF CHURCHILL CAPITAL CORP III 
        

        
          9.   Other Equity-Based Awards.   The Committee may grant Other Equity-Based Awards under the Plan to Eligible Persons, alone or in tandem with other Awards, in such amounts and dependent on such conditions as the Committee shall from time to time in its sole discretion determine, including, without limitation, satisfaction of Performance Conditions. Each Other Equity-Based Award granted under the Plan shall be evidenced by an Award Agreement and shall be subject to such conditions not inconsistent with the Plan as may be reflected in the applicable Award Agreement. 
        

        
          10.   Cash-Based Incentive Awards.   The Committee may grant Cash-Based Incentive Awards under the Plan to any Eligible Person, in such amounts and dependent on such conditions as the Committee shall 
        

      

      
        
           
          

        

      

      
        
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          from time to time in its sole discretion determine, including, without limitation, satisfaction of Performance Conditions. Each Cash-Based Incentive Award granted under the Plan shall be evidenced in such form as the Committee may determine from time to time. 
        

        
          11.   Changes in Capital Structure and Similar Events.   Notwithstanding any other provision in the Plan to the contrary, the following provisions shall apply to all Awards granted hereunder (other than Cash-Based Incentive Awards): 
        

        
          (a)   General.   In the event of (i) any dividend (other than regular cash dividends) or other distribution (whether in the form of cash, shares of Common Stock, other securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, split-off, spin-off, combination, repurchase or exchange of shares of Common Stock or other securities of the Company, issuance of warrants or other rights to acquire shares of Common Stock or other securities of the Company, or other similar corporate transaction or event that affects the shares of Common Stock (including a Change in Control); or (ii) unusual or nonrecurring events affecting the Company, including changes in applicable rules, rulings, regulations or other requirements, that the Committee determines, in its sole discretion, could result in substantial dilution or enlargement of the rights intended to be granted to, or available for, Participants (any event in (i) or (ii), an “Adjustment Event”), the Committee shall, in respect of any such Adjustment Event, make such proportionate substitution or adjustment, if any, as it deems equitable, to any or all of (A) the Plan Share Reserve, or any other limit applicable under the Plan with respect to the number of Awards which may be granted hereunder; (B) the number of shares of Common Stock or other securities of the Company (or number and kind of other securities or other property) which may be issued in respect of Awards or with respect to which Awards may be granted under the Plan or any Sub-Plan; and (C) the terms of any outstanding Award, including, without limitation, (I) the number of shares of Common Stock or other securities of the Company (or number and kind of other securities or other property) subject to outstanding Awards or to which outstanding Awards relate; (II) the Exercise Price or SAR Base Price with respect to any Option or SAR, as applicable, or any amount payable as a condition of issuance of shares of Common Stock (in the case of any other Award); or (III) any applicable performance measures; provided, that in the case of any “equity restructuring” (within the meaning of the Financial Accounting Standards Board Accounting Standards Codification Topic 718 (or any successor pronouncement thereto)), the Committee shall make an equitable or proportionate adjustment to outstanding Awards to reflect such equity restructuring. 
        

        
          (b)   Change in Control.   Without limiting the foregoing, in connection with any Adjustment Event that is a Change in Control, the Committee may, in its sole discretion, provide for any one or more of the following: 
        

        
          (i)   substitution or assumption of, acceleration of the vesting of, exercisability of, or lapse of restrictions on, any one or more outstanding Awards; and 
        

        
          (ii)   cancellation of any one or more outstanding Awards and payment to the holders of such Awards that are vested as of such cancellation (including, without limitation, any Awards that would vest as a result of the occurrence of such event but for such cancellation or for which vesting is accelerated by the Committee in connection with such event pursuant to clause (i) above), the value of such Awards, if any, as determined by the Committee (which value, if applicable, may be based upon the price per share of Common Stock received or to be received by other stockholders of the Company in such event), including, without limitation, in the case of an outstanding Option or SAR, a cash payment in an amount equal to the excess, if any, of the Fair Market Value (as of a date specified by the Committee) of the shares of Common Stock subject to such Option or SAR over the aggregate Exercise Price or SAR Base Price of such Option or SAR (it being understood that, in such event, any Option or SAR having a per share Exercise Price or SAR Base Price equal to, or in excess of, the Fair Market Value of a share of Common Stock subject thereto may be canceled and terminated without any payment or consideration therefor). 
        

        
          For purposes of clause (i) above, an award will be considered granted in substitution of an Award if it has an equivalent value (as determined consistent with clause (ii) above) with the original Award, 
        

      

      
        
           
          

        

      

      
        
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          whether designated in securities of the acquiror in such Change in Control transaction (or an Affiliate thereof), or in cash or other property (including in the same consideration that other stockholders of the Company receive in connection with such Change in Control transaction), and retains the vesting schedule applicable to the original Award. 
        

        
          Payments to holders pursuant to clause (ii) above shall be made in cash or, in the sole discretion of the Committee, in the form of such other consideration necessary for a Participant to receive property, cash, or securities (or combination thereof) as such Participant would have been entitled to receive upon the occurrence of the transaction if the Participant had been, immediately prior to such transaction, the holder of the number of shares of Common Stock covered by the Award at such time (less any applicable Exercise Price or SAR Base Price). 
        

        
          (c)   Other Requirements.   Prior to any payment or adjustment contemplated under this Section 11, the Committee may require a Participant to (i) represent and warrant as to the unencumbered title to the Participant’s Awards; (ii) bear such Participant’s pro rata share of any post-closing indemnity obligations, and be subject to the same post-closing purchase price adjustments, escrow terms, offset rights, holdback terms, and similar conditions as the other holders of Common Stock, subject to any limitations or reductions as may be necessary to comply with Section 409A of the Code; and (iii) deliver customary transfer documentation as reasonably determined by the Committee. 
        

        
          (d)   Fractional Shares.   Any adjustment provided under this Section 11 may provide for the elimination of any fractional share that might otherwise become subject to an Award. 
        

        
          (e)   Binding Effect.   Any adjustment, substitution, determination of value or other action taken by the Committee under this Section 11 shall be conclusive and binding for all purposes. 
        

        
          12.   Amendments and Termination. 
        

        
          (a)   Amendment and Termination of the Plan.   The Board may amend, alter, suspend, discontinue, or terminate the Plan or any portion thereof at any time; provided, that no such amendment, alteration, suspension, discontinuance or termination shall be made without stockholder approval if (i) such approval is required under Applicable Law; (ii) it would materially increase the number of securities which may be issued under the Plan (except for increases pursuant to Section 6 or 11 of the Plan); or (iii) it would materially modify the requirements for participation in the Plan; provided, further, that any such amendment, alteration, suspension, discontinuance or termination that would materially and adversely affect the rights of any Participant or any holder or beneficiary of any Award theretofore granted shall not to that extent be effective without the consent of the affected Participant, holder or beneficiary. Notwithstanding the foregoing, no amendment shall be made to Section 12(c) of the Plan without stockholder approval. 
        

        
          (b)   Amendment of Award Agreements.   The Committee may, to the extent consistent with the terms of the Plan and any applicable Award Agreement, waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate, any Award theretofore granted or the associated Award Agreement, prospectively or retroactively (including after a Participant’s Termination); provided, that, other than pursuant to Section 11, any such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination that would materially and adversely affect the rights of any Participant with respect to any Award theretofore granted shall not to that extent be effective without the consent of the affected Participant. 
        

        
          (c)   No Repricing.   Notwithstanding anything in the Plan to the contrary, without stockholder approval, except as otherwise permitted under Section 11 of the Plan, (i) no amendment or modification may reduce the Exercise Price of any Option or the SAR Base Price of any SAR; (ii) the Committee may not cancel any outstanding Option or SAR and replace it with a new Option or SAR (with a lower Exercise Price or SAR Base Price, as the case may be) or other Award or cash payment that is greater than the intrinsic value (if any) of the cancelled Option or SAR; and (iii) the Committee may not take any other action which is considered a “repricing” for purposes of the stockholder approval rules of any securities exchange or inter-dealer quotation system on which the securities of the Company are listed or quoted. 
        

      

      
        
           
          

        

      

      
        
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          13.   General. 
        

        
          (a)   Award Agreements.   Each Award (other than a Cash-Based Incentive Award) under the Plan shall be evidenced by an Award Agreement, which shall be delivered to the Participant to whom such Award was granted and shall specify the terms and conditions of the Award and any rules applicable thereto, including, without limitation, the effect on such Award of the death, Disability or Termination of a Participant, or of such other events as may be determined by the Committee. For purposes of the Plan, an Award Agreement may be in any such form (written or electronic) as determined by the Committee (including, without limitation, a Board or Committee resolution, an employment agreement, a notice, a certificate or a letter) evidencing the Award. The Committee need not require an Award Agreement to be signed by the Participant or a duly authorized representative of the Company. 
        

        
          (b)   Nontransferability. 
        

        
          (i)   Each Award shall be exercisable only by such Participant to whom such Award was granted during the Participant’s lifetime, or, if permissible under Applicable Law, by the Participant’s legal guardian or representative. No Award may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a Participant (unless such transfer is specifically required pursuant to a domestic relations order or by Applicable Law) other than by will or by the laws of descent and distribution and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against any member of the Company Group; provided, that the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance. 
        

        
          (ii)   Notwithstanding the foregoing, the Committee may, in its sole discretion, permit Awards (other than Incentive Stock Options) to be transferred by a Participant, without consideration, subject to such rules as the Committee may adopt consistent with any applicable Award Agreement to preserve the purposes of the Plan, to (A) any person who is a “family member” of the Participant, as such term is used in the instructions to Form S-8 under the Securities Act or any successor form of registration statement promulgated by the Securities and Exchange Commission (collectively, the “Immediate Family Members”); (B) a trust solely for the benefit of the Participant and the Participant’s Immediate Family Members; (C) a partnership or limited liability company whose only partners or stockholders are the Participant and the Participant’s Immediate Family Members; or (D) a beneficiary to whom donations are eligible to be treated as “charitable contributions” for federal income tax purposes (each transferee described in clauses (A), (B), (C) and (D) above is hereinafter referred to as a “Permitted Transferee”); provided, that the Participant gives the Committee advance written notice describing the terms and conditions of the proposed transfer and the Committee notifies the Participant in writing that such a transfer would comply with the requirements of the Plan. 
        

        
          (iii)   The terms of any Award transferred in accordance with clause (ii) above shall apply to the Permitted Transferee and any reference in the Plan, or in any applicable Award Agreement, to a Participant shall be deemed to refer to the Permitted Transferee, except that (A) Permitted Transferees shall not be entitled to transfer any Award, other than by will or the laws of descent and distribution; (B) Permitted Transferees shall not be entitled to exercise any transferred Option unless there shall be in effect a registration statement on an appropriate form covering the shares of Common Stock to be acquired pursuant to the exercise of such Option if the Committee determines, consistent with any applicable Award Agreement, that such a registration statement is necessary or appropriate; (C) neither the Committee nor the Company shall be required to provide any notice to a Permitted Transferee, whether or not such notice is or would otherwise have been required to be given to the Participant under the Plan or otherwise; and (D) the consequences of a Participant’s Termination under the terms of the Plan and the applicable Award Agreement shall continue to be applied with respect to the Participant, including, without limitation, that an Option shall be exercisable by the Permitted Transferee only to the extent, and for the periods, specified in the Plan and the applicable Award Agreement. 
        

      

      
        
           
          

        

      

      
        
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          (c)   Dividends and Dividend Equivalents. 
        

        
          (i)   The Committee may, in its sole discretion, provide a Participant as part of an Award with dividends, dividend equivalents, or similar payments in respect of Awards, payable in cash, shares of Common Stock, other securities, other Awards or other property, on a current or deferred basis, on such terms and conditions as may be determined by the Committee in its sole discretion, including, without limitation, payment directly to the Participant, withholding of such amounts by the Company subject to vesting of the Award or reinvestment in additional shares of Common Stock, Restricted Stock or other Awards. 
        

        
          (ii)   Without limiting the foregoing, unless otherwise provided in the Award Agreement, any dividend otherwise payable in respect of any share of Restricted Stock that remains subject to vesting conditions at the time of payment of such dividend shall be retained by the Company and remain subject to the same vesting conditions as the share of Restricted Stock to which the dividend relates and shall be delivered (without interest) to the Participant within 15 days following the date on which such restrictions on such Restricted Stock lapse (and the right to any such accumulated dividends shall be forfeited upon the forfeiture of the Restricted Stock to which such dividends relate). 
        

        
          (iii)   To the extent provided in an Award Agreement, the holder of outstanding Restricted Stock Units shall be entitled to be credited with dividend equivalent payments (upon the payment by the Company of dividends on shares of Common Stock) either in cash or, in the sole discretion of the Committee, in shares of Common Stock having a Fair Market Value equal to the amount of such dividends (and interest may, in the sole discretion of the Committee, be credited on the amount of cash dividend equivalents at a rate and subject to such terms as determined by the Committee), which accumulated dividend equivalents (and interest thereon, if applicable) shall be payable at the same time as the underlying Restricted Stock Units are settled following the date on which the Restricted Period lapses with respect to such Restricted Stock Units, and if such Restricted Stock Units are forfeited, the Participant shall have no right to such dividend equivalent payments (or interest thereon, if applicable). 
        

        
          (d)   Tax Withholding. 
        

        
          (i)   A Participant shall be required to pay to the Company or one or more of its Subsidiaries, as applicable, an amount in cash (by check or wire transfer) equal to the aggregate amount of any income, employment and/or other applicable taxes that are statutorily required to be withheld in respect of an Award. Alternatively, the Company or any of its Subsidiaries may elect, in its sole discretion, to satisfy this requirement by withholding such amount from any cash compensation or other cash amounts owing to a Participant. 
        

        
          (ii)   Without limiting the foregoing, the Committee may (but is not obligated to), in its sole discretion, permit or require a Participant to satisfy, all or any portion of the minimum income, employment and/or other applicable taxes that are statutorily required to be withheld with respect to an Award by (A) the delivery of shares of Common Stock (which are not subject to any pledge or other security interest) that have been both held by the Participant and vested for at least six months (or such other period as established from time to time by the Committee in order to avoid adverse accounting treatment under applicable accounting standards) having an aggregate Fair Market Value equal to such minimum statutorily required withholding liability (or portion thereof); or (B) having the Company withhold from the shares of Common Stock otherwise issuable or deliverable to, or that would otherwise be retained by, the Participant upon the grant, exercise, vesting or settlement of the Award, as applicable, a number of shares of Common Stock with an aggregate Fair Market Value equal to an amount, subject to clause (iii) below, not in excess of such minimum statutorily required withholding liability (or portion thereof). 
        

        
          (iii)   The Committee, subject to its having considered the applicable accounting impact of any such determination, has full discretion to allow Participants to satisfy, in whole or in part, any additional income, employment and/or other applicable taxes payable by them with respect to an Award by electing to have the Company withhold from the shares of Common Stock otherwise 
        

      

      
        
           
          

        

      

      
        
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          issuable or deliverable to, or that would otherwise be retained by, a Participant upon the grant, exercise, vesting or settlement of the Award, as applicable, shares of Common Stock having an aggregate Fair Market Value that is greater than the applicable minimum required statutory withholding liability (but such withholding may in no event be in excess of the maximum statutory withholding amount(s) in a Participant’s relevant tax jurisdictions). 
        

        
          (e)   No Claim to Awards; No Rights to Continued Employment; Waiver.   No employee of any member of the Company Group, or other Person, shall have any claim or right to be granted an Award under the Plan or, having been selected for the grant of an Award, to be selected for a grant of any other Award. There is no obligation for uniformity of treatment of Participants or holders or beneficiaries of Awards. The terms and conditions of Awards and the Committee’s determinations and interpretations with respect thereto need not be the same with respect to each Participant and may be made selectively among Participants, whether or not such Participants are similarly situated. Neither the Plan nor any action taken hereunder shall be construed as giving any Participant any right to be retained in the employ or service of the Service Recipient or any other member of the Company Group, nor shall it be construed as giving any Participant any rights to continued service on the Board. The Service Recipient or any other member of the Company Group may at any time dismiss a Participant from employment or discontinue any consulting relationship, free from any liability or any claim under the Plan, unless otherwise expressly provided in the Plan or any Award Agreement. By accepting an Award under the Plan, a Participant shall thereby be deemed to have waived any claim to continued exercise or vesting of an Award or to damages or severance entitlement related to non-continuation of the Award beyond the period provided under the Plan or any Award Agreement, except to the extent of any provision to the contrary in any written employment contract or other agreement between the Service Recipient and/or any member of the Company Group and the Participant, whether any such agreement is executed before, on or after the Date of Grant. 
        

        
          (f)   International Participants.   With respect to Participants who reside or work outside of the United States of America, the Committee may, in its sole discretion, amend the terms of the Plan and create or amend Sub-Plans or amend outstanding Awards with respect to such Participants in order to permit or facilitate participation in the Plan by such Participants, conform such terms with the requirements of Applicable Law or to obtain more favorable tax or other treatment for a Participant or any member of the Company Group. 
        

        
          (g)   Designation and Change of Beneficiary.   To the extent permitted by the Company, each Participant may file with the Committee a written designation of one or more Persons as the beneficiary(ies) who shall be entitled to receive the amounts payable with respect to an Award, if any, due under the Plan upon the Participant’s death. A Participant may, from time to time, revoke or change the Participant’s beneficiary designation without the consent of any prior beneficiary by filing a new designation with the Committee. The last such designation received by the Committee shall be controlling; provided, however, that no designation, or change or revocation thereof, shall be effective unless received by the Committee prior to the Participant’s death, and in no event shall it be effective as of a date prior to such receipt. If no beneficiary designation is filed by a Participant, the beneficiary shall be deemed to be the Participant’s spouse or, if the Participant is unmarried at the time of death, the Participant’s estate. 
        

        
          (h)   Termination.   Except as otherwise provided in an Award Agreement, unless determined otherwise by the Committee at any point following such event: (i) neither a temporary absence from employment or service due to illness, vacation or leave of absence (including, without limitation, a call to active duty for military service through a Reserve or National Guard unit) nor a transfer from employment or service with one Service Recipient to employment or service with another Service Recipient (or vice-versa) shall be considered a Termination; and (ii) if a Participant undergoes a Termination, but such Participant continues to provide services to the Company Group in a non-employee capacity, such change in status shall not be considered a Termination for purposes of the Plan. Further, unless otherwise determined by the Committee, in the event that any Service Recipient ceases to be a member of the Company Group (by reason of sale, divestiture, spin-off or other similar transaction), unless a Participant’s employment or service is transferred to another entity that would constitute a Service Recipient immediately following such transaction, such Participant shall be deemed to have suffered a Termination hereunder as of the date of the consummation of such transaction. 
        

      

      
        
           
          

        

      

      
        
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          (i)   No Rights as a Stockholder.   Except as otherwise specifically provided in the Plan or any Award Agreement, no Person shall be entitled to the privileges of ownership in respect of shares of Common Stock which are subject to Awards hereunder until such shares have been issued or delivered to such Person. 
        

        
          (j)   Government and Other Regulations. 
        

        
          (i)   The obligation of the Company to settle Awards in shares of Common Stock or other consideration shall be subject to all Applicable Law. Notwithstanding any terms or conditions of any Award to the contrary, the Company shall be under no obligation to offer to sell or to sell, and shall be prohibited from offering to sell or selling, any shares of Common Stock pursuant to an Award unless such shares have been properly registered for sale pursuant to the Securities Act with the Securities and Exchange Commission or unless the Company has received an opinion of counsel (if the Company has requested such an opinion), satisfactory to the Company, that such shares may be offered or sold without such registration pursuant to an available exemption therefrom and the terms and conditions of such exemption have been fully complied with. The Company shall be under no obligation to register for sale under the Securities Act any of the shares of Common Stock to be offered or sold under the Plan. The Committee shall have the authority to provide that all shares of Common Stock or other securities of any member of the Company Group issued under the Plan shall be subject to such stop-transfer orders and other restrictions as the Committee may deem advisable under the Plan, the applicable Award Agreement and Applicable Law, and, without limiting the generality of Section 8 of the Plan, the Committee may cause a legend or legends to be put on certificates representing shares of Common Stock or other securities of any member of the Company Group issued under the Plan to make appropriate reference to such restrictions or may cause such Common Stock or other securities of any member of the Company Group issued under the Plan in book-entry form to be held subject to the Company’s instructions or subject to appropriate stop-transfer orders. Notwithstanding any provision in the Plan to the contrary, the Committee reserves the right to add, at any time, any additional terms or provisions to any Award granted under the Plan that the Committee, in its sole discretion, deems necessary or advisable in order that such Award complies with the legal requirements of any governmental entity to whose jurisdiction the Award is subject. 
        

        
          (ii)   The Committee may cancel an Award or any portion thereof if it determines, in its sole discretion, that legal or contractual restrictions and/or blockage and/or other market considerations would make the Company’s acquisition of shares of Common Stock from the public markets, the Company’s issuance of Common Stock to the Participant, the Participant’s acquisition of Common Stock from the Company and/or the Participant’s sale of Common Stock to the public markets, illegal, impracticable or inadvisable. If the Committee determines to cancel all or any portion of an Award in accordance with the foregoing, the Company shall, subject to any limitations or reductions as may be necessary to comply with Section 409A of the Code, (A) pay to the Participant an amount equal to the excess of (I) the aggregate Fair Market Value of the shares of Common Stock subject to such Award or portion thereof canceled (determined as of the applicable exercise date, or the date that the shares would have been vested or issued, as applicable); over (II) the aggregate Exercise Price or SAR Base Price (in the case of an Option or SAR, respectively) or any amount payable as a condition of issuance of shares of Common Stock (in the case of any other Award). Such amount shall be delivered to the Participant as soon as practicable following the cancellation of such Award or portion thereof, or (B) in the case of Restricted Stock, Restricted Stock Units or Other Equity-Based Awards, provide the Participant with a cash payment or equity subject to deferred vesting and delivery consistent with the vesting restrictions applicable to such Restricted Stock, Restricted Stock Units or Other Equity-Based Awards, or the underlying shares in respect thereof. 
        

        
          (k)   No Section 83(b) Elections Without Consent of Company.   No election under Section 83(b) of the Code or under a similar provision of law may be made unless expressly permitted by the terms of the applicable Award Agreement or by action of the Committee in writing prior to the making of such election. If a Participant, in connection with the acquisition of shares of Common Stock under the Plan or otherwise, is expressly permitted to make such election and the Participant makes the election, 
        

      

      
        
           
          

        

      

      
        
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          the Participant shall notify the Company of such election within 10 days after filing notice of the election with the Internal Revenue Service or other governmental authority, in addition to any filing and notification required pursuant to Section 83(b) of the Code or other applicable provision. 
        

        
          (l)   Payments to Persons Other Than Participants.   If the Committee shall find that any Person to whom any amount is payable under the Plan is unable to care for the Participant’s affairs because of illness or accident, or is a minor, or has died, then any payment due to such Person or the Participant’s estate (unless a prior claim therefor has been made by a duly appointed legal representative) may, if the Committee so directs the Company, be paid to the Participant’s spouse, child, relative, an institution maintaining or having custody of such Person, or any other Person deemed by the Committee to be a proper recipient on behalf of such Person otherwise entitled to payment. Any such payment shall be a complete discharge of the liability of the Committee and the Company therefor. 
        

        
          (m)   Nonexclusivity of the Plan.   Neither the adoption of the Plan by the Board nor the submission of the Plan to the stockholders of the Company for approval shall be construed as creating any limitations on the power of the Board to adopt such other incentive arrangements as it may deem desirable, including, without limitation, the granting of equity-based awards otherwise than under the Plan, and such arrangements may be either applicable generally or only in specific cases. 
        

        
          (n)   No Trust or Fund Created.   Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between any member of the Company Group, on the one hand, and a Participant or other Person, on the other hand. No provision of the Plan or any Award shall require the Company, for the purpose of satisfying any obligations under the Plan, to purchase assets or place any assets in a trust or other entity to which contributions are made or otherwise to segregate any assets, nor shall the Company be obligated to maintain separate bank accounts, books, records or other evidence of the existence of a segregated or separately maintained or administered fund for such purposes. Participants shall have no rights under the Plan other than as unsecured general creditors of the Company, except that insofar as they may have become entitled to payment of additional compensation by performance of services, they shall have the same rights as other service providers under general law. 
        

        
          (o)   Reliance on Reports.   Each member of the Committee and each member of the Board shall be fully justified in acting or failing to act, as the case may be, and shall not be liable for having so acted or failed to act in good faith, in reliance upon any report made by the independent public accountant of any member of the Company Group and/or any other information furnished in connection with the Plan by any agent of the Company or the Committee or the Board, other than himself or herself. 
        

        
          (p)   Relationship to Other Benefits.   No payment under the Plan shall be taken into account in determining any benefits under any pension, retirement, profit sharing, group insurance or other benefit plan of the Company except as otherwise specifically provided in such other plan or as required by Applicable Law. 
        

        
          (q)   Governing Law.   The Plan shall be governed by and construed in accordance with the internal laws of the State of Delaware applicable to contracts made and performed wholly within the State of Delaware, without giving effect to the conflict of laws provisions thereof. EACH PARTICIPANT WHO ACCEPTS AN AWARD IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY SUIT, ACTION, OR OTHER PROCEEDING INSTITUTED BY OR AGAINST SUCH PARTICIPANT IN RESPECT OF THE PARTICIPANT’S RIGHTS OR OBLIGATIONS HEREUNDER. 
        

        
          (r)   Severability.   If any provision of the Plan or any Award or Award Agreement is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be construed or deemed stricken as to such jurisdiction, Person or Award and the remainder of the Plan and any such Award shall remain in full force and effect. 
        

      

      
        
           
          

        

      

      
        
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          (s)   Obligations Binding on Successors.   The obligations of the Company under the Plan shall be binding upon any successor corporation or organization resulting from the merger, consolidation or other reorganization of the Company, or upon any successor corporation or organization succeeding to substantially all of the assets and business of the Company. 
        

        
          (t)   Section 409A of the Code. 
        

        
          (i)   Notwithstanding any provision of the Plan to the contrary, it is intended that the provisions of the Plan comply with Section 409A of the Code, and all provisions of the Plan shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A of the Code. Each Participant is solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on or in respect of such Participant in connection with the Plan (including any taxes and penalties under Section 409A of the Code), and neither the Service Recipient nor any other member of the Company Group shall have any obligation to indemnify or otherwise hold such Participant (or any beneficiary) harmless from any or all of such taxes or penalties. With respect to any Award that is considered “deferred compensation” subject to Section 409A of the Code, references in the Plan to “termination of employment” (and substantially similar phrases) shall mean “separation from service” within the meaning of Section 409A of the Code. For purposes of Section 409A of the Code, each of the payments that may be made in respect of any Award granted under the Plan is designated as separate payments. 
        

        
          (ii)   Notwithstanding anything in the Plan to the contrary, if a Participant is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, no payments in respect of any Awards that are “deferred compensation” subject to Section 409A of the Code and which would otherwise be payable upon the Participant’s “separation from service” (as defined in Section 409A of the Code) shall be made to such Participant prior to the date that is six months after the date of such Participant’s “separation from service” or, if earlier, the date of the Participant’s death. Following any applicable six month delay, all such delayed payments will be paid in a single lump sum on the earliest date permitted under Section 409A of the Code that is also a business day. 
        

        
          (iii)   Unless otherwise provided by the Committee in an Award Agreement or otherwise, in the event that the timing of payments in respect of any Award (that would otherwise be considered “deferred compensation” subject to Section 409A of the Code) would be accelerated upon the occurrence of (A) a Change in Control, no such acceleration shall be permitted unless the event giving rise to the Change in Control satisfies the definition of a change in the ownership or effective control of a corporation, or a change in the ownership of a substantial portion of the assets of a corporation pursuant to Section 409A of the Code; or (B) a Disability, no such acceleration shall be permitted unless the Disability also satisfies the definition of “Disability” pursuant to Section 409A of the Code. 
        

        
          (u)   Clawback/Repayment.   All Awards shall be subject to reduction, cancellation, forfeiture or recoupment to the extent necessary to comply with (i) any clawback, forfeiture or other similar policy adopted by the Board or the Committee and as in effect from time to time; and (ii) Applicable Law. Further, unless otherwise determined by the Committee, to the extent that the Participant receives any amount in excess of the amount that the Participant should otherwise have received under the terms of the Award for any reason (including, without limitation, by reason of a financial restatement, mistake in calculations or other administrative error), the Participant shall be required to repay any such excess amount to the Company. 
        

        
          (v)   Detrimental Activity.   Notwithstanding anything to the contrary contained herein, if a Participant has engaged in any Detrimental Activity, as determined by the Committee, the Committee may, in its sole discretion, provide for one or more of the following: 
        

        
          (i)   cancellation of any or all of such Participant’s outstanding Awards; or 
        

        
          (ii)   forfeiture by the Participant of any gain realized on the vesting or exercise of Awards, and repayment of any such gain promptly to the Company. 
        

      

      
        
           
          

        

      

      
        
          19
          

        

      

      

    

    
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          (w)   Right of Offset.   The Company will have the right to offset against its obligation to deliver shares of Common Stock (or other property or cash) under the Plan or any Award Agreement any outstanding amounts (including, without limitation, travel and entertainment or advance account balances, loans, repayment obligations under any Awards, or amounts repayable to the Company pursuant to tax equalization, housing, automobile or other employee programs) that the Participant then owes to any member of the Company Group and any amounts the Committee otherwise deems appropriate pursuant to any tax equalization policy or agreement. Notwithstanding the foregoing, if an Award is “deferred compensation” subject to Section 409A of the Code, the Committee will have no right to offset against its obligation to deliver shares of Common Stock (or other property or cash) under the Plan or any Award Agreement if such offset could subject the Participant to the additional tax imposed under Section 409A of the Code in respect of an outstanding Award. 
        

        
          (x)   Expenses; Titles and Headings.   The expenses of administering the Plan shall be borne by the Company Group. The titles and headings of the sections in the Plan are for convenience of reference only, and in the event of any conflict, the text of the Plan, rather than such titles or headings, shall control.
        

      

      
        
           
          

        

      

      
        
          20Exhibit 10.13

 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 

This Amended and Restated
Employment Agreement (the “Agreement”) is made as of May 5, 2016 by and among MultiPlan, Inc., a
New York corporation (together with any successor thereto, the “Company”), Polaris Investment Holdings, L.P.,
a Delaware limited partnership (“Holdings”), and Mark H. Tabak (the “Executive”).

 

RECITALS

 

A.            The
Company, the Executive and MPH Intermediate Acquisition Corp. entered into an employment agreement dated as of February 14,
2014 (the “Original Employment Agreement”).

 

B.            Polaris
Parent Corp., a Delaware corporation (“Acquiror”), Polaris Merger Sub Corp., a Delaware corporation and indirect
wholly owned subsidiary of Acquiror, MPH Acquisition Corp. 1, a Delaware corporation and wholly owned subsidiary of Seller (as
defined below) and MPH Topco L.P., a Delaware limited partnership (“Seller”) have entered into an Agreement
and Plan of Merger (the “Merger Agreement”), dated as of the date hereof whereby Acquiror will acquire the
Company in connection with the Closing (as defined in the Merger Agreement) (such transaction, the “Merger”).

 

C.            It
is the desire of the Company and Acquiror to assure the continued services of the Executive to the Company following the Effective
Time (as defined in the Merger Agreement) by entering into this Agreement, which shall, effective as of immediately prior to,
and contingent on the occurrence of, the Effective Time, supersede the Original Employment Agreement.

 

D.            The
Executive, the Company and Acquiror mutually desire that the Executive continue to provide services to the Company on the terms
herein provided and agree that the Company’s and the Executive’s obligations pursuant to the Original Employment Agreement
shall terminate as of, and contingent upon the occurrence of, the Effective Time.

 

AGREEMENT

 

NOW, THEREFORE,
in consideration of the foregoing and of the respective covenants and agreements set forth below the parties hereto agree as follows:

 

		1.	Employment.

 

(a)            General.
As of the Effective Time, the Company shall continue to employ the Executive and the Executive shall continue to be employed by
the Company, for the period set forth in Section 1(b), in the position set forth in Section 1(c), and
upon the other terms and conditions herein provided.

 

(b)            Employment
Term. The initial term of employment under this Agreement (the “Initial Term”) shall be for the
period beginning on the Effective Time and ending on the fifth anniversary of the Effective Time, unless earlier terminated as
provided in Section 3. The employment term hereunder shall automatically be extended for successive one-year periods
(such periods, collectively with the Initial Term, the “Term”) unless the Company or Executive gives notice
of non-extension to the other no later than thirty (30) days prior to the expiration of the then-applicable Term and subject to
earlier termination as provided in Section 3. Should the Merger Agreement be terminated prior to the Closing, this
Agreement shall not become effective and shall be null and void and the Original Employment Agreement shall continue in full force
and effect.

 

    

     

    

 

(c)            Position
and Duties. The Executive shall serve as the Chief Executive Officer (“CEO”), shall serve as Chairman
of the Board of Directors of Acquiror (the “Board”), and shall serve on all committees of the Board, with such
customary responsibilities, duties and authority for such position as may from time to time be assigned to Executive by the Board.
The Executive shall devote substantially all his business time and efforts to the business and affairs of the Company (which may
include service to its Affiliates). However, during the Term it shall not be a violation of the prior sentence for the Executive
to (i) serve on industry trade, civic or charitable boards or committees; (ii) deliver lectures or fulfill speaking
engagements; (iii) manage his personal investments and affairs; (iv) continue to serve on the board of directors (or
equivalent governing bodies) of those entities set forth in Schedule I hereto (the “Existing Outside Boards”),
and (v) serve on the board of directors of other for-profit enterprises with the Board’s prior consent, as long as
such activities do not interfere with the performance of the Executive’s duties and responsibilities as an employee of the
Company. The Executive agrees to observe and comply with the general rules and policies of the Company as adopted by the
Company from time to time as applicable to its senior executives. The Company agrees to take the necessary measures to elect the
Executive to the Board for so long as he is employed hereunder. If the Executive resigns from his employment with the Company
or is terminated, he will immediately resign from any other officer or director positions he holds with the Company and/or any
of its affiliated entities.

 

(d)            Work
Location. During the Term, Executive’s primary work location shall be the Company’s offices in New York,
New York. Executive acknowledges that he shall be required to travel on business in connection with the performance of his duties
hereunder.

 

		2.	Compensation and Related Matters.

 

(a)            Annual
Base Salary. During the Term, the Executive shall receive a base salary (the “Annual Base Salary”)
at a rate of $804,705.03 per annum, which shall be paid in accordance with the customary payroll practices of the Company, subject
to adjustment as determined by the Board; provided that any decrease in such amount can only be proportionately made in
connection with Company-wide reductions in the salary rates for senior executives as determined by the Board.

 

(b)            Annual
Bonus. During the Term, the Executive will be eligible to participate in an incentive bonus program established by
the Board (the “Annual Bonus”). Executive’s Annual Bonus compensation under such incentive program shall
be targeted at 125% of his Annual Base Salary (the “Target Bonus Amount”). The Annual Bonus awards payable
under the incentive program shall be based on the achievement of performance goals, which performance goals shall be established
by the Board, in consultation with the Executive. Each such Annual Bonus earned shall be paid no later than March 15th
of the year following the year in which the applicable performance period under the incentive program ends.

 

    2

     

    

 

(c)            Rollover
Equity; Equity Award. At the Effective Time, the Executive, who is the legal and beneficial owner of Class A Units
in MPH Topco L.P., a Delaware limited partnership (the “Class A Units”), will exchange his Class A
Units for certain Class A Units in Holdings (such units, the “Rollover Units”), which units shall be of
the same class as those acquired in connection with the Closing by affiliates of Hellman & Friedman LLC (together with
its affiliates, the “Sponsor”) pursuant to the terms of the Rollover Agreement (except that they shall be “non-voting”).
The terms (including the amount) of the Rollover Units shall be consistent with those set forth in Exhibit A. Promptly
following the Effective Time, Holdings shall make an equity award to Executive on the terms set forth in Exhibit A
and such other standard terms as the parties shall negotiate in good faith (it being understood that a failure by Holdings to
make such equity award shall give the Executive the right to require Holdings to cancel the Rollover Units and return the pre-tax
cash value of the Class A Units, which cancellation shall not constitute a breach hereof).

 

(d)            Benefits.
During the Term, the Executive shall be entitled to participate in employee benefit plans, programs and arrangements of the Company,
as may be amended from time to time, which are applicable to the senior officers of the Company.

 

(e)            Vacation.
During the Term, the Executive shall be entitled to paid vacation in accordance with the Company’s vacation policy, as it
may be amended from time to time. Any vacation shall be taken at the reasonable and mutual convenience of the Company and the
Executive.

 

(f)            Expenses.
During the Term, the Company shall reimburse the Executive for all reasonable travel and other business expenses incurred by him
in the performance of his duties to the Company in accordance with the Company’s expense reimbursement policy.

 

(g)            Key
Person Insurance. At any time during the Term, the Company shall have the right to insure the life of the Executive
for the Company’s sole benefit. The Company shall have the right to determine the amount of insurance and the type of policy.
The Executive shall cooperate with the Company in obtaining such insurance by submitting to physical examinations, by supplying
all information reasonably required by any insurance carrier, and by executing all necessary documents reasonably required by
any insurance carrier. The Executive shall incur no financial obligation by executing any required document, and shall have no
interest in any such policy.

 

(h)            Indemnification.
During the Term, the Company shall indemnify the Executive to the maximum extent provided for under its charter and by-laws as
in effect as of the Effective Time (or, if more favorable, as modified from time to time), with respect to any action suit or
proceeding to which Executive is made, or threatened to be made, a party by reason of the fact that he is or was an officer, director,
employee, consultant or agent of the Company and/or its Affiliates.

 

(i)            Board
Action. Any action taken by a committee of the Board shall be deemed to be an action taken by the Board for purposes
of this Section 2.

 

    3

     

    

 

		3.	Termination .

 

The Executive’s
employment hereunder may be terminated by the Company or the Executive, as applicable, without any breach of this Agreement only
under the following circumstances:

 

(a)            Circumstances.

 

(i)            Death.
The Executive’s employment hereunder shall terminate upon his death.

 

(ii)           Disability.
If the Executive has incurred a Disability, the Company may give the Executive written notice of its intention to terminate the
Executive’s employment.

 

(iii)          Termination
for Cause. The Company may terminate the Executive’s employment for Cause.

 

(iv)          Termination
without Cause. The Company may terminate the Executive’s employment without Cause.

 

(v)           Resignation
for Good Reason. The Executive may resign his employment for Good Reason.

 

(vi)          Resignation
without Good Reason. The Executive may resign his employment without Good Reason.

 

(vii)        Non-extension
of Term by the Company. The Company may give notice of non-extension to the Executive pursuant to Section 1(b).

 

(viii)       Non-extension
of Term by the Executive. The Executive may give notice of non-extension to the Company pursuant to Section 1(b).

 

(ix)          Resignation
without Good Reason Upon a Change in Control. The Executive may resign his employment without Good Reason on the date
of a Change in Control.

 

(b)            Notice
of Termination. Any termination of the Executive’s employment by the Company or by the Executive under this Section 3
(other than termination pursuant to Section 3(a)(i)) shall be communicated by a written notice to the other party
hereto indicating the specific termination provision in this Agreement relied upon, setting forth in reasonable detail the facts
and circumstances claimed to provide a basis for termination of the Executive’s employment under the provision so indicated,
and specifying a Date of Termination which, if submitted by the Executive, shall be at least 60 days following the date of such
notice, or if submitted by the Company in the case of a termination under Sections 3(a)(iv) or 3(a)(vii),
shall be at least 60 days following the date of such notice (a “Notice of Termination”); provided, however,
that the Company may, in its sole discretion, advance the Date of Termination to any date following the Company’s receipt
of the Notice of Termination. A Notice of Termination submitted by the Company may provide for a Date of Termination on the date
the Executive receives the Notice of Termination, or any date thereafter elected by the Company in its sole discretion. The failure
by the Executive or the Company to set forth in the Notice of Termination any fact or circumstance which contributes to a showing
of Cause or Good Reason shall not waive any right of the Executive or the Company hereunder or preclude the Executive or the Company
from asserting such fact or circumstance in enforcing the Executive’s or the Company’s rights hereunder.

 

    4

     

    

 

(c)            Company
Obligations upon Termination. Upon termination of the Executive’s employment hereunder, the Executive (or the
Executive’s estate) shall be entitled to receive the portion of the Executive’s Annual Base Salary earned through
the Date of Termination but not theretofore paid, any expenses owed to the Executive under Section 2(f), any bonus
earned but unpaid with respect to the prior year under Section 2(b) (excluding any bonus in excess of Executive’s
Target Bonus Amount under the Company’s incentive program applicable to Executive), any accrued vacation pay owed to the
Executive pursuant to Section 2(e), and any amount accrued and arising from the Executive’s participation in,
or benefits accrued under, any employee benefit plans, programs or arrangements under Section 2(d), as required under
the terms of such plans or by law, which amounts shall be payable in accordance with the terms and conditions of such employee
benefit plans, programs or arrangements, and such other or additional benefits as may be, or become, due to him under the applicable
terms of applicable plans, programs, agreements, corporate governance documents and other arrangements of the Company and its
subsidiaries (collectively, the “Company Arrangements”).

 

		4.	Severance
                                         Payments.

 

(a)            Termination
for Cause or Resignation without Good Reason, upon Non-Extension of Term by Executive, upon death or upon Disability.
If, at any time, the Executive’s employment terminates pursuant to Section 3(a)(iii) for Cause, Section 3(a)(vi) for
Resignation without Good Reason, due to non-extension of Term by Executive pursuant to Section 3(a)(viii) or
as a result of the Executive’s death pursuant to Section 3(a)(i) or Disability pursuant to Section 3(a)(ii),
the Executive shall not be entitled to any severance payments or benefits and the payments and benefits provided under Section 3(c) shall
fully discharge the Company’s and its Affiliates’ obligations hereunder.

 

(b)            Termination
without Cause, Resignation for Good Reason, Resignation without Good Reason Upon a Change in Control or Non-extension of Term
by the Company. If the Executive’s employment shall terminate without Cause pursuant to Section 3(a)(iv),
for Good Reason pursuant to Section 3(a)(v), for Resignation without Good Reason Upon a Change in Control pursuant
to Section 3(a)(ix) or due to Non-extension of Term by the Company pursuant to Section 3(a)(vii),
then, provided that the Executive’s termination of employment constitutes a “separation from service” as defined
under Treas. Reg. Section 1.409A-1(h) (a “Separation from Service”) and contingent on Executive’s
compliance with Sections 5, 6 and 7 hereof (the “Restrictive Covenants”), in addition
to any amounts payable under Section 3(c):

 

(i)            the
Company shall pay to the Executive in twenty-four equal monthly installments in the aggregate amount equal to the product of (A) two
and (B) the sum of (x) the Executive’s Annual Base Salary and (y) Target Bonus Amount, in each case, as in
effect on the Date of Termination, on the thirtieth (30th) day following the Executive’s Date of Termination;

 

    5

     

    

 

(ii)            subject
to the Executive’s timely election of, continued eligibility for, continuation coverage under the Consolidated Omnibus Budget
Reconciliation Act of 1985, as amended (“COBRA”), the Company shall pay directly, or reimburse the Executive
for, the premium costs under COBRA for the Executive and, where applicable, his eligible spouse and dependents, for a period of
eighteen (18) months following the Date of Termination under one of the Company’s group medical plans (with any direct payment
by the Company or reimbursement to the Executive treated as income to the Executive); provided that in the event that the
Executive obtains other employment that offers group health benefits, such continuation of coverage by the Company under this
Section 4(b)(ii) shall immediately cease. Notwithstanding the foregoing, if the Company’s obligations contemplated
by this Section 4(b)(ii) would result in the imposition of excise taxes on the Company for failure to comply
with the nondiscrimination requirements of the Patient Protection and Affordable Care Act of 2010, as amended, and the Health
Care and Education Reconciliation Act of 2010, as amended (to the extent applicable), the Company shall discontinue the COBRA-related
payments provided for in this Section 4(b)(ii), and

 

(iii)            On
the thirtieth (30th) day following the Date of Termination, a pro rata Annual Bonus equal to the product of (1) the greater
of (x)  Executive’s Annual Bonus in respect of the fiscal year prior to the Date of Termination and (y)  Executive’s
Target Bonus Amount and (2) a fraction, the numerator of which is the number of days during the fiscal year up to and including
the Date of Termination of the Executive’s employment and the denominator of which is 365.

 

Payments and benefits provided in this
Section 4(b) shall be in lieu of any termination or severance payments or benefits for which the Executive may
be eligible under any of the plans, policies or programs of the Company or under the Worker Adjustment Retraining Notification
Act of 1988 or any similar state statute or regulation.

 

(c)            Release.
Notwithstanding any provision to the contrary in this Agreement, no amounts shall be paid under Section 4(b) unless
the Executive signs, delivers and does not revoke a release of claims in favor of the Company and Acquiror within sixty (60) days
following the Executive’s Separation from Service (the “Release Period”) in a form substantially similar
to Exhibit B (the “Release”). Subject to the Executive’s compliance with this Section 4(c) and
the Restrictive Covenants, any payments or benefits to which Executive becomes entitled pursuant to Section 4(b) shall
commence on the first payroll date immediately following the Release Period. Notwithstanding anything to the foregoing set forth
herein, to the extent that the payment of any amount described in this Section 4 constitutes “nonqualified deferred
compensation” for purposes of Code Section 409A (as defined in Section 21 hereof), any such payment scheduled
to occur during the Release Period shall not be paid until the first regularly scheduled pay period following the last day of
the Release Period and shall include payment of any amount that was otherwise scheduled to be paid prior thereto.

 

(d)            Survival.
The expiration or termination of the Term shall not impair the rights or obligations of any party hereto, which shall have accrued
prior to such expiration or termination.

 

    6

     

    

  

		5.	Non-Competition,
                                         Non-Solicitation and Non-Disparagement.

 

(a)            The
Executive shall not, at any time during the Term or during the 24-month period following the Date of Termination (the “Non-Compete
Period”), except as permitted in this Section 5 or with the prior written consent of the Board (having made
its determination as set forth below), directly or indirectly, whether independently or in association with any other Person (other
than the Company), private equity firm, investment company or management company, (i) own any equity or other ownership interest
in, be employed by, consult or work as an independent contractor or agent for any Person (other than the Company) engaged in a
Business (as defined below) or (ii) own, manage, operate, finance, control or participate in the ownership, management, operation,
financing or control of any such business or enterprise. The restrictions set forth in this Section 5 shall not be
construed to prohibit or restrict (i) continued service by the Executive as a director on Existing Outside Boards, provided
that if any business segment of any company provided in Schedule I constitutes or has become a Business and in
addition competes in a material manner with a material business segment of the Company, the Executive will promptly disclose this
to the Board and will resign from such position on the applicable Existing Outside Board at the request of the Board: provided
further that the Executive will, at the reasonable request of the Board, provide non-confidential information regarding such
business or any company listed on Schedule I to permit the Board to assess whether such business constitutes a Business
that competes in a material manner; or (ii) any passive investment by the Executive in any class of debt or equity securities
of any company engaged in a Business so long as the Executive in the aggregate together with his Affiliates does not hold at any
time during such period more than five percent (5%) of the issued and outstanding voting securities of such company, or five percent
(5%) of the aggregate principal amount of such class of debt securities outstanding (each such 5% limit, the “5% Threshold”)
and, consistent with the remainder of this Section 5, so long as the Executive and his Affiliates do not otherwise
engage in any other activities with respect to such company (whether as a director, officer, employee, agent, representative,
consultant or otherwise, except with respect to continued service as a director on Existing Outside Boards until such time as
the Board has the right (as provided for above) to request that the Executive promptly resign from serving on such Existing Outside
Board). In the event the Executive requests permission to take a “Competitive Action” (as defined below), the Board
shall in good faith consider whether such Competitive Action could reasonably be expected to cause material detriment or harm
to the business of the Company or its subsidiaries, and shall provide its consent to the Executive to the extent the Board so
determines that such Competitive Action could not be so detrimental or harmful. For this purpose, “Competitive Action”
is limited to either making a passive investment in a Business in excess of the 5% Threshold or sitting on a board of directors
(or similar governing body) of a Business (other than with respect to the Existing Outside Boards).

 

(b)            During
the Non-Compete Period, the Executive shall not, directly or indirectly, recruit or otherwise solicit or induce any employee,
customer or supplier of the Company or healthcare provider or payor to terminate its employment or arrangement with the Company.

 

(c)            In
the event the terms of this Section 5 shall be determined by any court of competent jurisdiction to be unenforceable
by reason of its extending for too great a period of time or over too great a geographical area or by reason of its being too
extensive in any other respect, it will be interpreted to extend only over the maximum period of time for which it may be enforceable,
over the maximum geographical area as to which it may be enforceable, or to the maximum extent in all other respects as to which
it may be enforceable, all as determined by such court in such action.

 

    7

     

    

 

(d)            As
used in Section 5, Section 6 and Section 7, (i) the term “Company”
shall include the Company and its direct or indirect parents, if any, and subsidiaries, and (ii) the term “Business”
shall mean a business that competes with a material business segment of the Company, including, but not limited to, a business
that (A) involves operating cost containment networks on a national, regional and/or local basis (shared savings and preferred
provider organizations) to reprice medical claims for the benefit of a healthcare payor (e.g., any insurance company, health plan,
third party administrator or health management organization (a “Healthcare Payor”)), including insurance companies
and self-insured entities, (B) provides medical fee negotiation services to insurance companies and self-insured entities,
or (C) is a Healthcare Payor.

 

(e)            During
his employment and following termination of his employment with the Company, the Executive agrees not to disparage in any material
respect the Company, any of its products or practices, or any of its directors, officers, agents, representatives, stockholders
or Affiliates, either orally or in writing.

 

		6.	Nondisclosure
                                         of Proprietary Information.

 

(a)            Except
in connection with the faithful performance of the Executive’s duties hereunder or pursuant to Section 6(c),
the Executive shall, in perpetuity, maintain in confidence and shall not directly, indirectly or otherwise, use, disseminate,
disclose or publish, or use for his benefit or the benefit of any person, firm, corporation or other entity any confidential or
proprietary information or trade secrets of or relating to the Company (including, without limitation, intellectual property in
the form of patents, trademarks and copyrights and applications therefor, ideas, inventions, works, discoveries, improvements,
information, documents, formulae, practices, processes, methods, developments, source code, modifications, technology, techniques,
data, programs, other know-how or materials, owned, developed or possessed by the Company, whether in tangible or intangible form,
information with respect to the Company’s operations, processes, products, inventions, business practices, finances, principals,
vendors, suppliers, customers, potential customers, marketing methods, costs, prices, contractual relationships, regulatory status,
prospects and compensation paid to employees or other terms of employment), or deliver to any person, firm, corporation or other
entity any document, record, notebook, computer program or similar repository of or containing any such confidential or proprietary
information or trade secrets. The parties hereby stipulate and agree that as between them the foregoing matters are important,
material and confidential proprietary information and trade secrets and affect the successful conduct of the businesses of the
Company (and any successor or assignee of the Company).

 

(b)            Upon
termination of the Executive’s employment with the Company for any reason, the Executive will promptly deliver to the Company
all Company property and all correspondence, drawings, manuals, letters, notes, notebooks, reports, programs, plans, proposals,
financial documents, or any other documents concerning the Company’s customers, business plans, marketing strategies, products
or processes.

 

    8

     

    

 

(c)            The
Executive may respond to a lawful and valid subpoena or other legal process but shall give the Company the earliest possible notice
thereof, and shall, as much in advance of the return date as possible, make available to the Company and its counsel the documents
and other information sought and shall assist such counsel at Company’s expense in resisting or otherwise responding to
such process.

 

(d)            Nothing
in this Agreement shall prohibit the Executive from (i) disclosing information and documents when required by law, subpoena
or court order (subject to the requirements of Section 6(c) above), (ii) disclosing information and documents
to his attorney or tax adviser for the purpose of securing legal or tax advice, (iii) disclosing the post-employment restrictions
in this Agreement to any potential new employer, (iv) retaining, at any time, his personal correspondence, his personal rolodex
or outlook contacts and documents related to his own personal benefits, entitlements and obligations, or (v) disclosing or
retaining information that is already generally available to the public or otherwise was part of the public domain at the time
of disclosure.

 

(e)            Nothing
in this Agreement shall prohibit or impede the Executive from communicating, cooperating or filing a complaint with any U.S. federal,
state or local governmental or law enforcement branch, agency or entity (collectively, a “Governmental Entity”)
with respect to possible violations of any U.S. federal, state or local law or regulation, or otherwise making disclosures to
any Governmental Entity, in each case, that are protected under the whistleblower provisions of any such law or regulation; provided
that in each case such communications and disclosures are consistent with applicable law. Notwithstanding the foregoing, under
no circumstance is the Executive authorized to disclose any information covered by the Company or its Affiliates’ attorney-client
privilege or attorney work product or the Company’s trade secrets without prior written consent of the Company’s Board.

 

		7.	Inventions.

 

All rights to discoveries,
inventions, improvements and innovations (including all data and records pertaining thereto) related to the Business of the Company
as defined in Section 5(d) above, whether or not patentable, copyrightable, registrable as a trademark, or reduced
to writing, that the Executive may discover, invent or originate during his employment with the Company, either alone or with
others and whether or not during working hours or by the use of the facilities of the Company (“Inventions”),
shall be the exclusive property of the Company. The Executive shall promptly disclose all Inventions to the Company, shall execute
at the request of the Company any assignments or other documents the Company may deem reasonably necessary to protect or perfect
its rights therein, and shall assist the Company, upon reasonable request and at the Company’s expense, in obtaining, defending
and enforcing the Company’s rights therein. The Executive hereby appoints the Company as his attorney-in-fact to execute
on his behalf any assignments or other documents reasonably deemed necessary by the Company to protect or perfect its rights to
any Inventions.

 

		8.	Injunctive
                                         Relief.

 

It is recognized and
acknowledged by the Executive that a breach of the covenants contained in Sections 5, 6 or 7 will cause
irreparable damage to Company and its goodwill, the exact amount of which will be difficult or impossible to ascertain, and that
the remedies at law for any such breach will be inadequate. Accordingly, the Executive agrees that in the event of a breach of
any of the covenants contained in Sections 5, 6 or 7, in addition to any other remedy which may be available
at law or in equity, the Company will be entitled to seek specific performance and injunctive relief.

 

    9

     

    

 

		9.	Assignment
                                         and Successors.

 

The Company may assign
its rights and obligations under this Agreement to any Affiliate and any successor to all or substantially all of the business
or the assets of the Company (by merger or otherwise), and may assign or encumber this Agreement and its rights hereunder as security
for indebtedness of the Company and its Affiliates; provided that any such assignment of this Agreement, other than a security
assignment, shall not be valid unless the assignee has agreed to assume the Company’s obligations hereunder. This Agreement
shall be binding upon and inure to the benefit of the Company, the Executive and their respective successors, assigns, personnel
and legal representatives, executors, administrators, heirs, distributees, devisees, and legatees, as applicable. None of the
Executive’s rights or obligations may be assigned or transferred by the Executive, other than the Executive’s rights
to payments hereunder, which may be transferred only by will or operation of law. Notwithstanding the foregoing, the Executive
shall be entitled, to the extent permitted under applicable law and applicable Company Arrangements, to select and change a beneficiary
or beneficiaries to receive compensation hereunder following his death by giving written notice thereof to the Company.

 

		10.	Certain
                                         Definitions.

 

(a)            Affiliate.
 “Affiliate” shall mean, with respect to any Person, any other Person directly or indirectly controlling, controlled
by, or under common control with, such Person where “control” shall have the meaning given such term under Rule 405
of the Securities Act of 1933, as amended. For the purposes of this Agreement, Affiliates of the Company shall include the Sponsor.
From and after the Merger, SIH MPH Holdings, LLC, Partners Group Client Access 10, L.P., Partners Group Private Equity (Master
Fund), LLC, 30 MP Investment, LLC and their respective affiliates will not be deemed to be Affiliates of the Company or Acquiror.

 

(b)            Cause.
The Company shall have “Cause” to terminate the Executive’s employment hereunder within 120 days of the Board’s
knowledge of:

 

(i)            the
Board’s good faith determination that the Executive failed to carry out, or comply with, in any material respect, any lawful
directive of the Board consistent with the terms of this Agreement;

 

(ii)            the
Executive’s conviction, plea of no contest, plea of nolo contendere, or imposition of unadjudicated probation for
any felony or crime involving moral turpitude (excluding vehicular offenses);

 

(iii)            the
Executive’s unlawful use (including being under the influence) or possession of illegal drugs on the Company’s premises
or while performing the Executive’s duties and responsibilities under this Agreement; or

 

    10

     

    

 

(iv)            the
Executive’s commission of an act of fraud, embezzlement, misappropriation, misconduct, or material breach of fiduciary duty
against the Company; provided that, to the extent such event may be remedied, the Company has notified the Executive of
such event in writing and the Executive has not remedied the alleged violation(s) within 10 business days following his receipt
of such notice.

 

(c)            Change
in Control. “Change in Control” shall mean any of the following occurring after the Effective Time:

 

(i)            a
transaction or series of transactions (whether by merger or otherwise) (other than an offering of Common Stock to the general
public through a registration statement filed with the Securities and Exchange Commission) whereby any “person” or
related “group” of “persons” (as such terms are used in Sections 13(d) and 14(d)(2) of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (other than the Sponsor, any Affiliate
of the Sponsor, any group of persons within the meaning of Sections 13(d) and 14(d)(2) of the Exchange Act that
includes the Sponsor or any Affiliate of the Sponsor, Acquiror, any of its subsidiaries, an employee benefit plan maintained by
Acquiror or any of its subsidiaries or a “person” that, prior to such transaction, directly or indirectly controls,
is controlled by, or is under common control with, Acquiror, including without limitation, any existing stockholder of Acquiror)
directly or indirectly acquires beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act) of the voting
securities of Acquiror possessing fifty percent (50%) or more of the total combined voting power of Acquiror’s securities
outstanding immediately after such acquisition; or

 

(ii)            the
consummation by Acquiror (whether directly involving Acquiror or indirectly involving Acquiror through one or more intermediaries)
of a sale or other disposition of all or substantially all of Acquiror’s assets to any person other than an Affiliate of
Acquiror.

 

Notwithstanding the
foregoing, a transaction shall not constitute a “Change in Control” if: (i) its sole purpose is to change the
state of Acquiror’s incorporation; (ii) its sole purpose is to create a holding company that will be owned in substantially
the same proportions by the Persons who held Acquiror’s securities immediately before such transaction; (iii) it constitutes
Acquiror’s initial public offering of its securities; (iv) it is a transaction effected primarily for the purpose of
financing Acquiror with additional cash investment (as determined by the Board in its discretion and without regard to whether
such transaction is effectuated by a merger, equity financing or otherwise); or (v) a transaction that is directed or required
by a regulatory or governmental authority. The Board shall have full and final authority, which shall be exercised in its discretion,
to determine conclusively whether a Change in Control of Acquiror has occurred pursuant to the above definition, and the date
of the occurrence of such Change in Control and any incidental matters thereto.

 

(d)            Common
Stock. “Common Stock” shall mean the common stock of Acquiror.

 

(e)            Date
of Termination. “Date of Termination” shall mean (i) if the Executive’s employment is terminated
by his death, the date of his death; (ii) if the Executive’s employment is terminated pursuant to Section 3(a)(ii) –(vi) or
Section (ix) either the date indicated in the Notice of Termination or the date specified by the Company pursuant
to Section 3(b), whichever is earlier; (iii) if the Executive’s employment is terminated pursuant to Section 3(a)(vii) or
Section 3(a)(viii), the expiration of the then-applicable Term.

 

    11

     

    

 

(f)            Disability.
 “Disability” shall mean, at any time the Company or any of its Affiliates sponsors a long-term disability plan for
the Company’s employees, “disability” as defined in such long-term disability plan for the purpose of determining
a participant’s eligibility for benefits, provided, however, if the long-term disability plan contains multiple
definitions of disability, “Disability” shall refer to that definition of disability which, if the Executive qualified
for such disability benefits, would provide coverage for the longest period of time. The determination of whether the Executive
has a Disability shall be made by the person or persons required to make disability determinations under the long-term disability
plan. At any time the Company does not sponsor a long-term disability plan for its employees, Disability shall mean the Executive’s
inability to perform, with or without reasonable accommodation, the essential functions of his position hereunder for a total
of four consecutive months during any twelve-month period or six non-consecutive months in any eighteen-month period as a result
of incapacity due to mental or physical illness as determined by a physician selected by the Company or its insurers and acceptable
to the Executive or the Executive’s legal representative, such agreement as to acceptability not to be unreasonably withheld
or delayed. Any refusal by the Executive to submit to a medical examination for the purpose of determining Disability shall be
deemed to constitute conclusive evidence of the Executive’s Disability.

 

(g)            Good
Reason. The Executive shall have “Good Reason” to resign his employment within one-hundred twenty (120)
days following the initial occurrence of any of the following events that occurs after the Effective Time:

 

(i)            the
Company takes action that causes a material adverse change in the nature or scope of the Executive’s responsibilities, duties
or authority; provided, that no changes to the Executive’s responsibilities, duties or authority that arise, directly
or indirectly, as a result of, or relating to, the transactions contemplated by the Merger Agreement shall constitute “Good
Reason”;

 

(ii)           the
Company requires the Executive to relocate his principal place of work to outside the New York, New York metropolitan area;

 

(iii)          the
Company materially reduces the amount of the Annual Base Salary (other than a proportional reduction as part of a generalized
reduction in the base salaries of senior management of the Company not to exceed 10% of his Annual Base Salary then currently
in effect) or a failure of the Company to pay earned but unpaid Annual Bonus within a reasonable period of time after such bonus
becomes due and payable;

 

(iv)          the
failure of the Company’s successor to assume the obligations hereunder pursuant to Section 9; or

 

(v)           any
material breach by the Company of this Agreement or any other material written agreement with the Executive.

 

The Executive may not resign his employment
for Good Reason unless: (i) the Executive provides the Company with written notice, which shall include a specific description
of the existence of the condition alleged to constitute Good Reason, within thirty (30) days after the first occurrence of such
circumstances, (ii) the Company has not remedied the alleged violation(s) within thirty (30) days of such notice, and
(iii) the Executive actually terminates his employment within sixty (60) days after Company’s thirty (30)-day cure
period. Otherwise, any claim of such circumstances as “Good Reason” shall be deemed irrevocably waived by the Executive.

 

    12

     

    

 

(h)            Person.
 “Person” shall mean an individual, partnership, corporation, limited liability company, business trust, joint stock
company, trust, unincorporated association, joint venture, governmental authority or other entity of whatever nature.

 

		11.	Governing
                                         Law.

 

This Agreement shall
be governed, construed, interpreted and enforced in accordance with its express terms, and otherwise in accordance with the substantive
laws of New York.

 

		12.	Notices.

 

Any notice, request,
claim, demand, document and other communication hereunder to any party shall be effective upon receipt (or refusal of receipt)
and shall be in writing and delivered personally or sent by facsimile or certified or registered mail, postage prepaid, as follows:

 

(a)          If
to the Company:

 

MultiPlan, Inc.

115 Fifth Avenue, 7th Floor

New York, NY 10003-0004

 

and:

Hellman & Friedman LLC

One Maritime Plaza, 12th Floor

San Francisco, CA 94111

Fax: [ ]

Attention: Arrie R. Park

 

and:

 

Simpson Thacher & Bartlett LLP

425 Lexington Avenue

New York, NY 10017

Fax: [ ]

Attention: David E. Rubinsky

 

(b)          If
to the Executive:

 

Mark H. Tabak

[ ]

[ ]

 

and:

 

Proskauer Rose LLP

Eleven Times Square

New York, NY 10036-8299

Fax: [ ]

Attention: Michael Album

 

or at any other address
as any party shall have specified by notice in writing to the other party.

 

    13

     

    

 

		13.	Counterparts.

 

This Agreement may
be executed in several counterparts, each of which shall be deemed to be an original, but all of which together will constitute
one and the same Agreement. Signatures delivered by facsimile shall be deemed effective for all purposes.

 

		14.	Entire
                                         Agreement.

 

The terms of this
Agreement and the other agreements and instruments contemplated hereby (collectively the “Related Agreements”)
are intended by the parties to be the final expression of their agreement with respect to the employment of the Executive by the
Company and may not be contradicted by evidence of any prior or contemporaneous agreement. The parties further intend that this
Agreement and the Related Agreements shall constitute the complete and exclusive statement of their terms and that no extrinsic
evidence whatsoever may be introduced in any judicial, administrative, or other legal proceeding to vary the terms of this Agreement
and the Related Agreements. For the avoidance of doubt, this Agreement shall supersede the Original Employment Agreement, and
all terms of the Original Employment Agreement, including all post-termination obligations by the Company pursuant to the Original
Employment Agreement, shall expire immediately prior to the Effective Time.

 

		15.	Amendments;
                                         Waivers.

 

This Agreement may
not be modified, amended, or terminated except by an instrument in writing, signed by the Executive and a duly authorized officer
of Company who is not the Executive. By an instrument in writing similarly executed, the Executive or such duly authorized officer
of the Company may waive compliance by the other party or parties with any specifically identified provision of this Agreement
that such other party was or is obligated to comply with or perform; provided, however, that such waiver shall not
operate as a waiver of, or estoppel with respect to, any other or subsequent failure. No failure to exercise and no delay in exercising
any right, remedy, or power hereunder preclude any other or further exercise of any other right, remedy, or power provided herein
or by law or in equity. Except as otherwise set forth in this Agreement, the respective rights and obligations of the parties
under this Agreement shall survive any termination of Executive’s employment.

 

		16.	Construction.

 

The headings in this
Agreement are only for convenience and are not intended to affect construction or interpretation. Any references to paragraphs,
subparagraphs, sections or subsections are to those parts of this Agreement, unless the context clearly indicates to the contrary.
Also, unless the context clearly indicates to the contrary, (a) the plural includes the singular and the singular includes
the plural; (b) “and” and “or” are each used both conjunctively and disjunctively; (c) “any,”
 “all,” “each,” or “every” means “any and all,” and “each and every”;
(d) “includes” and “including” are each “without limitation”; (e) “herein,”
 “hereof,” “hereunder” and other similar compounds of the word “here” refer to the entire Agreement
and not to any particular paragraph, subparagraph, section or subsection; and (f) all pronouns and any variations thereof
shall be deemed to refer to the masculine, feminine, neuter, singular or plural as the identity of the entities or persons referred
to may require.

 

    14

     

    

 

		17.	Arbitration.

 

Any dispute or controversy
arising under or in connection with this Agreement shall be settled exclusively by arbitration, conducted before an arbitrator
in New York City in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration
Association (the “AAA”) then in effect. New York law shall govern all rules of procedure with respect
to any arbitration proceeding hereunder, to the extent applicable. Judgment may be entered on the arbitration award in any court
having jurisdiction, provided, however, that the Company shall be entitled to seek a restraining order or injunction
in any court of competent jurisdiction to prevent any continuation of any violation of the provisions of Section 5,
6 or 7 of the Agreement. Only individuals who are on the AAA register of arbitrators shall be selected as an arbitrator.
Within 20 days of the conclusion of the arbitration hearing, the arbitrator shall prepare written findings of fact and conclusions
of law. It is mutually agreed that the written decision of the arbitrator shall be valid, binding, final and non-appealable.

 

		18.	Enforcement.

 

If any provision of
this Agreement is held to be illegal, invalid or unenforceable under present or future laws effective during the Term, such provision
shall be fully severable; this Agreement shall be construed and enforced as if such illegal, invalid or unenforceable provision
had never comprised a portion of this Agreement; and the remaining provisions of this Agreement shall remain in full force and
effect and shall not be affected by the illegal, invalid or unenforceable provision or by its severance from this Agreement. Furthermore,
in lieu of such illegal, invalid or unenforceable provision there shall be added automatically as part of this Agreement a provision
as similar in terms to such illegal, invalid or unenforceable provision as may be possible and be legal, valid and enforceable.

 

		19.	Withholding.

 

The Company shall
be entitled to withhold from any amounts payable under this Agreement any federal, state, local or foreign withholding or other
taxes or charges which the Company is required to withhold. The Company shall be entitled to rely on an opinion of counsel if
any questions as to the amount or requirement of withholding shall arise.

 

		20.	Employee
                                         Acknowledgement.

 

The Executive acknowledges
that he has read and understands this Agreement, is fully aware of its legal effect, has not acted in reliance upon any representations
or promises made by the Company other than those contained in writing herein, and has entered into this Agreement freely based
on his own judgment.

 

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		21.	Section 409A

 

Notwithstanding anything
to the contrary in this Agreement, if at the time of Executive’s termination of employment with the Company, Executive is
a “specified employee” as defined in Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”),
as determined by the Company in accordance with Section 409A of the Code, and the deferral of the commencement of any payments
or benefits otherwise payable hereunder as a result of such termination of employment is necessary in order to prevent any accelerated
or additional tax under Section 409A of the Code, then the Company will defer the commencement of the payment of any such
payments or benefits hereunder (without any reduction in the payments or benefits ultimately paid or provided to Executive) until
the date that is at least six (6) months following Executive’s termination of employment with the Company (or the earliest
date permitted under Section 409A of the Code), whereupon the Company will pay Executive a lump-sum amount equal to the cumulative
amounts that would have otherwise been previously paid to Executive under this Agreement during the period in which such payments
or benefits were deferred. Thereafter, payments will resume in accordance with this Agreement.

 

In the event that
following the Effective Time the Company reasonably determines that any payments or benefits payable under this Agreement may
be subject to Section 409A of the Code, the Company and the Executive shall work together to adopt such amendments to this
Agreement or adopt other policies or procedures (including amendments, policies and procedures with retroactive effect), or take
any other commercially reasonable actions necessary or appropriate to (i) exempt the payments and benefits payable under
this Agreement from Section 409A of the Code and/or preserve the intended tax treatment of the payments and benefits provided
with respect to this Agreement or (ii) comply with the requirements of Section 409A of the Code and related Department
of Treasury guidance.

 

Notwithstanding anything
to the contrary in this Agreement, in-kind benefits and reimbursements provided under this Agreement during any tax year of the
Executive shall not affect in-kind benefits or reimbursements to be provided in any other tax year of the Executive, except for
the reimbursement of medical expenses referred to in Section 105(b) of the Code, and are not subject to liquidation
or exchange for another benefit. Notwithstanding anything to the contrary in this Agreement, reimbursement requests must be timely
submitted by Executive and, if timely submitted, reimbursement payments shall be made to the Executive as soon as administratively
practicable following such submission, but in no event later than December 31st of the calendar year following
the calendar year in which the expense was incurred. In no event shall the Executive be entitled to any reimbursement payments
after December 31st of the calendar year following the calendar year in which the expense was incurred. This paragraph
shall only apply to in-kind benefits and reimbursements that would result in taxable compensation income to the Executive.

 

For purposes of Section 409A
of the Code (including, without limitation, for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)), each payment
that the Executive may be eligible to receive under this Agreement shall be treated as a separate and distinct payment. To the
extent applicable, this Agreement shall be interpreted in accordance with Section 409A of the Code and Department of Treasury
regulations and other interpretative guidance issued thereunder, including without limitation any such regulations or other such
guidance that may be issued after the Effective Time.

 

    16

     

    

 

		22.	Legal
                                         Fees

 

The Company shall
pay for all reasonable legal fees incurred in connection with the negotiation, drafting and review of this Agreement and all other
employment and incentive agreements with respect to the Company’s senior executive officers in connection with the Merger,
the amount for which shall not exceed $100,000 in the aggregate with respect to all such employment and incentive agreements for
all such senior executive officers.

 

		23.	Stockholder
                                         Approval.

 

In the event that
it shall be determined that any right to receive the payments and/or other benefits under this Agreement to or for the benefit
of the Executive (the “Payments”) in connection with the Merger or a future change in control, would not be
deductible, in whole or part when aggregated with any other right, payment or benefit to or for the Executive under all other
agreements or benefit plans of the Company, by the Company or the person making such payment or distribution or providing such
right or benefit as a result of Section 280G of Code, the Company shall use its commercially reasonable best efforts to prepare
and deliver to its stockholders the disclosure required by Section 280G(b)(5)(B) of the Code with respect to the Payments
and to obtain the approval of the Company’s stockholders in accordance with Section 280G(b)(5)(B) of the Code
and the regulation codified at 26 C.F.R. §1.280G-1 with respect to the portion of the payments which, individually
or in the aggregate, would cause or trigger any “excess parachute payments” within the meaning of Section 280G
of the Code.

 

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LEFT BLANK]

 

    17

     

    

 

IN WITNESS WHEREOF, the parties
have executed this Agreement on the date and year first above written.

 

	 	MULTIPLAN, INC. (or any successor thereto)

 

	 	By:	/s/ David L. Redmond
	 	 	Name:	David L. Redmond
	 	 	Title:	Chief Financial Officer

 

[Signature Page to Amended and Restated
Employment Agreement]

 

    

     

    

 

	 	Polaris
    Investment Holdings, L.P. (or any successor thereto)

 

		By:	POLARIS INVESTMENT HOLDINGS GP, LLC, its general partner
	 	 	 
		By:	HELLMAN & FRIEDMAN CAPITAL PARTNERS VIII, L.P., its
                                         managing member
	 	 	 
		By:	HELLMAN & FRIEDMAN INVESTORS VIII, L.P., its general
                                         partner
	 	 	 
		By:	H&F CORPORATE INVESTORS VIII, LTD., its general partner

 

	 	By:	/s/ P. Hunter Philbrick
	 	 	Name:	 P. Hunter Philbrick
	 	 	Title:	Vice President

 

[Signature Page to Amended and Restated
Employment Agreement]

 

    

     

    

 

	 	EXECUTIVE

 

	 	By:	/s/ Mark H. Tabak
	 	 	Mark H. Tabak

 

[Signature Page to Amended and Restated
Employment Agreement]

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