Document:

Form of Restricted Stock Agreement

 Exhibit 10.3 
  
 RESTRICTED STOCK AGREEMENT 
  
 THIS RESTRICTED STOCK AGREEMENT (this “Agreement”) dated as of [INSERT DATE OF GRANT], is between First Advantage Corporation, a Delaware
corporation (“Company”) having an address at One Progress Plaza, Suite 2400, St. Petersburg, Florida 33701, and              (“Employee”) having an address set
forth on the signature page hereof, relating to the award of shares of Company’s Class A common stock (“Stock”) to Employee pursuant to the Restricted Stock provisions (Article 8) of Company’s 2003 Incentive Compensation
Plan (as such may be amended from time to time, the “Plan”). Capitalized terms used in this Agreement without definition shall have the meaning ascribed to such terms in the Plan. 
  
 1. ISSUANCE OF RESTRICTED SHARES. Company hereby awards to
Employee              shares of Stock (the “Restricted Shares”). 
  
 2. LAPSE OF RESTRICTIONS. Restricted Shares shall cease to be subject to the restrictions described herein (“Period of Restriction”), (shares no longer subject
to such restrictions being referred to herein as “Unrestricted Shares”) as of the date set forth below according to the percentage set forth opposite such date: 
  

			
	 Date

	  	Cumulative Percentage Unrestricted

	 One Year Anniversary from Date of Grant
	  	33.4%
	 Two Year Anniversary from Date of Grant
	  	66.7%
	 Three Year Anniversary from Date of Grant
	  	100%

  
 In the event that Employee ceases to
be an Employee for any or no reason ( excluding death) before all of the shares of Stock granted hereunder cease to be Restricted Shares, Employee shall, upon the date of such termination (as reasonably fixed and determined by the Company,
the “Termination Date”) forfeit that number of shares of Stock which constitute the Restricted Shares. Upon such forfeiture, the Company shall become the legal and beneficial owner of the Restricted Shares being forfeited and all rights
and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own name the number of Restricted Shares being forfeited by Employee. For purposes of this Agreement, the Employee shall be considered to
be in the employment of the Company as long as the Employee remains an employee of either the Company, or subsidiary corporation (as defined in Section 424 of the Code). Any question as to whether and when there has been a termination of such
employment shall be determined by the Committee, and its determination shall be final. In addition, the Restrictions shall lapse upon a Change of Control of the Company (as defined in the Plan) or in the event of Employee’s death. 

 
 3. RESTRICTION ON TRANSFER. Restricted Shares (and any interest therein) may never be
directly or indirectly transferred, pledged, hypothecated, or otherwise 

 
disposed of while they remain Restricted Shares. The prohibition against transfer and the obligation to forfeit and surrender Restricted Shares to the
Company upon cessation of employment for any reason (excluding death) are referred to herein as “Forfeiture Restrictions”. The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted
Shares. 
  
 4. ESCROW. The Company may, in its discretion, reflect ownership of
Restricted Shares (and Unrestricted Shares) through the issuance of stock certificates, or in book-entry form, without stock certificates, on its books and records. If the Company elects to issue certificates, such certificates for Restricted Shares
shall be deposited in escrow, together with stock powers duly executed in blank by Employee, with the corporate secretary of Company to be held in accordance with the provisions hereof. Restricted Shares shall be: (i) released to Company upon
forfeiture as described in Section 2 above; or (ii) released to Employee, upon Employee’s request, to the extent the shares of Stock are no longer Restricted Shares. 
  
 5. ADDITIONAL RESTRICTIONS ON TRANSFER OF STOCK. The certificates representing shares of Stock granted hereunder will bear a legend which
states, and Employee agrees to, the following: 
  
 “ THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO AGREEMENTS SET FORTH IN A RESTRICTED STOCK AGREEMENT (THE “AGREEMENT”) BETWEEN FIRST ADVANTAGE CORPORATION, A DELAWARE CORPORATION,
AND                     DATED AS OF [INSERT DATE OF GRANT], A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL EXECUTIVE OFFICE OF THE
CORPORATION. ANY TRANSFER OR PLEDGE IN CONFLICT WITH, OR IN DEROGATION OF THE AGREEMENT IS VOID AND OF NO LEGAL FORCE, EFFECT, OR VALIDITY WHATSOEVER.” 
  
 6. VOTING RIGHTS AND DIVIDENDS. Restricted Shares shall not be entitled to voting rights with respect to those Restricted Shares during the Period of Restriction. In
addition, the Restricted Shares shall not be credited with any cash dividends paid with respect to such Stock while they are held. 
  
 7. SECTION 83(b) ELECTION. Employee acknowledges that he may, within the thirty (30) day period after the date hereof, in his sole discretion make an election with
the Internal Revenue Service under Section 83(b) of the Code. If Employee makes such election, he will promptly file a copy with the Company. 
  
 8. EMPLOYEE’S INVESTMENT REPRESENTATIONS. Employee represents that he (a) is acquiring shares of Stock for his own account for investment, not on behalf or for
the benefit of any other person, trust, estate, or business organization and has no intention of distributing such shares of Stock to others in violation of the Securities Act; (b) has no contract or arrangement with any person to sell or
transfer to them Employee’s shares of Stock; (c) understands that the shares of Stock cannot be sold or otherwise 

 
disposed of in any manner which would constitute a violation of any applicable federal or state securities laws; (d) understands the Company may refuse
to register the transfer of Restricted Shares on the stock transfer records of the Company if such transfer would constitute a violation of the Forfeiture Restrictions or, in opinion of counsel satisfactory to the Company, of any applicable
securities laws; and (e) understands that the Company may give related instructions to the transfer agent to stop registration of the transfer of the Restricted Shares. 
  
 9. MISCELLANEOUS. This Agreement, together with the Plan, embodies the complete agreement and understanding between the parties and
supersedes and preempts any prior understandings, agreements, or representations by or among the parties, written or oral, which may have related to the subject matter hereof in any way. This Agreement is intended to bind, inure to the benefit of
and be enforceable by Employee and Company and their respective successors and assigns. In addition to any other available remedies, the parties will be entitled to specifically enforce their respective rights hereunder and obtain injunctive relief
to enforce or prevent violations of the provisions hereof. 
  
 10. GOVERNING LAW.
This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. 
  
 IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year first above written. 
  

			
	 FIRST ADVANTAGE CORPORATION,
 A DELAWARE CORPORATION

		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	 EMPLOYEE:

	 Name:
	 	 
	 Address:
	 	 
	 

  

 3Form of Restricted Stock Unit Agreement

 Exhibit 10.4 
  
 CONFIDENTIAL 
  
 RESTRICTED STOCK UNIT AGREEMENT 
  
 THIS RESTRICTED STOCK UNIT AGREEMENT (this “Agreement”) dated as of
                                 (the “Date of Grant”), is between First
Advantage Corporation, a Delaware corporation (“Company”) having an address at One Progress Plaza, Suite 2400, St. Petersburg, Florida 33701, and
                                     (“Employee”)
having an address set forth on the signature page hereof, relating to the award of units representing the Company’s Class A common stock (“Stock”) to Employee pursuant to the Other Stock-Based Awards provisions (Article XII) of
Company’s 2003 Incentive Compensation Plan (as such may be amended from time to time, the “Plan”). Capitalized terms used in this Agreement without definition shall have the meaning ascribed to such terms in the Plan. 
  
 1. ISSUANCE OF RESTRICTED STOCK UNITS. Company hereby awards to Employee
             Other Stock-Based Awards (the “Restricted Stock Units”). The value of each Other Stock-Based Award shall be equal to one share of Stock. The award is subject
to adjustment as provided in Section 4.3 of the Plan. 
  
 2. LAPSE OF
RESTRICTIONS. 
  

	 	a.	The Restricted Stock Units shall vest and cease to be subject to the restrictions described herein (“Period of Restriction”), contingent upon the Employee’s continued
employment with the Company as of the date set forth in the following schedule: 

  

			
	 Date

	  	Cumulative Percentage Unrestricted

	 One Year Anniversary from Date of Grant
	  	33.3%
	 Two Year Anniversary from Date of Grant
	  	66.6%
	 Three Year Anniversary from Date of Grant
	  	100%

  
 For purposes of the
foregoing schedule, amounts shall be rounded down to the nearest Unit. Units no longer subject to restrictions are referred to herein as “Unrestricted Stock Units.” Except as provided in Section 2(b) hereof, in the event that Employee
separates from service for any or no reason before all of the Restricted Stock Units granted hereunder become Unrestricted Stock Units, Employee shall, upon the date of such termination (the “Termination Date”) forfeit the
Restricted Stock Units. For purposes of this Agreement, the Employee shall be considered to be in the employment of the Company as long as the Employee remains an employee of either the Company, or subsidiary corporation (as defined in
Section 424 of the Internal Revenue Code), and separation from service shall be interpreted consistently with Section 409A of the Code. Determinations regarding any termination of employment shall be made by the Committee, and its
determination shall be final. 
  

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	 	b.	Notwithstanding Section 2(a), hereof, in the event of the Employee’s death, Disability, Retirement, or separation from service due to a Board-approved Reduction-in-Force
by the Company, in any case before all of the Restricted Stock Units granted hereunder become Unrestricted Stock Units, the Restrictions on the current year unvested installment shall immediately lapse on a pro-rata basis, based on the number of
whole months of Employee’s employment during the current vesting year divided by 12, and the remaining Restricted Stock Units for that installment and for the future years unvested installments shall be forfeited. In addition, the Restrictions
shall lapse upon a Change of Control of the Company (as defined in the Plan) or in the event of Employee’s death. 

  
 3. RESTRICTION ON TRANSFER. Restricted Stock Units (and any interest therein) may never be directly or indirectly transferred, pledged, hypothecated, or otherwise
disposed of while they remain Restricted Stock Units. The prohibition against transfer and the obligation to forfeit and surrender Restricted Stock Units to the Company upon cessation of employment for any reason (excluding death, Disability,
Retirement, or separation from service due to a reduction-in-force by the Company) are referred to herein as “Forfeiture Restrictions”. The Forfeiture Restrictions shall be binding upon and enforceable against any purported transferee.

  
 4. PAYMENT. Payment in respect of the Unrestricted Stock Units shall be made
to the Employee, or his or her estate, as the case may be, in a lump sum on the date set forth in Employee’s election, provided such election was made prior to the year of the award and in a manner consistent with Section 409A of the
Internal Revenue Code or, if earlier, 30 days following the Employee’s separation from service for any reason; provided, however, if Employee is a “specified employee” within the meaning of Section 409A of the Internal Revenue
Code, no payment based upon the Employee’s separation of service may be made before the date which is 6 months after the date of separation from service. If no election with respect to payment was made, payment (other than with respect to
payment based upon separation from service as described in the preceding sentence) shall be made within 2 1/2
months following the date of vesting as set forth in Section 2 hereof. The Company may, in its discretion, permit a subsequent deferral election provided that (i) such election may not take effect until at least 12 months after the date
the election is made, (ii) the payment with respect to which the election is made must be deferred for a period of not less than 5 years from the date such payment would otherwise have been paid, (iii) such election may not be made less
than 12 months prior to the date the payment is scheduled to be paid, and (iv) such election shall comply in all other respects with Section 409A of the Code. 
  
 5. FORM OF PAYMENT. Payment may be made, in the Company’s sole discretion, in shares of Stock, in cash, or partly in shares of Stock
and partly in cash. If paid in cash, the amount of any cash payment for each Unrestricted Stock Unit shall be equal to the Fair Market Value of a share of Stock on the date of Payment. 
  

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 6. VOTING RIGHTS AND DIVIDENDS. Restricted and Unrestricted Stock Units shall not be entitled to voting rights.
Restricted and Unrestricted Stock Units shall not be credited with any cash dividends paid with respect to the Stock. 
  
 7. WITHHOLDING TAXES. Employee shall be advised by the Company as to the amount of any federal, state, local or foreign income or employment taxes required to be withheld
by the Company on the income resulting from the award or payment of the Restricted and Unrestricted Stock Units. Employee shall pay any taxes required to be withheld directly to the Company in accordance with the provisions of Article XVI of the
Plan. Employee understands that no payment with respect to the Unrestricted Stock Units shall be made unless and until Employee shall have satisfied any obligation for withholding taxes with respect thereto. 
  
 8. EMPLOYEE’S INVESTMENT REPRESENTATIONS. Employee represents that, to the extent Stock
is issued in payment for the Unrestricted Stock Units, he (a) is acquiring shares of Stock for his own account for investment, not on behalf or for the benefit of any other person, trust, estate, or business organization and has no intention of
distributing such shares of Stock to others in violation of the Securities Act; (b) has no contract or arrangement with any person to sell or transfer to them Employee’s shares of Stock; (c) understands that the shares of Stock cannot
be sold or otherwise disposed of in any manner which would constitute a violation of any applicable federal or state securities laws; (d) understands the Company may refuse to issue shares of Stock in payment for the Unrestricted Stock Units if
such transfer would constitute a violation of the Forfeiture Restrictions or, in opinion of counsel satisfactory to the Company, of any applicable securities laws; and (e) understands that the Company may give related instructions to the
transfer agent in accordance herewith. 
  
 9. MISCELLANEOUS. This Agreement,
together with the Plan, embodies the complete agreement and understanding between the parties and supersedes and preempts any prior understandings, agreements, or representations by or among the parties, written or oral, which may have related to
the subject matter hereof in any way, excepting any permitted deferral election with respect hereto. This Agreement is intended to bind, inure to the benefit of and be enforceable by Employee and Company and their respective successors and assigns.
In addition to any other available remedies, the parties will be entitled to specifically enforce their respective rights hereunder and obtain injunctive relief to enforce or prevent violations of the provisions hereof. 
  
 10. GOVERNING LAW. This Agreement shall be governed by, and construed and enforced in
accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. 
  

 3 

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

  

			
	 FIRST ADVANTAGE CORPORATION,
 A DELAWARE CORPORATION

		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	 EMPLOYEE:

		
	 Name:
	 	 
	 Address:
	 	 
	 

  

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