Document:

Exhibit 10.21

 

RESTRICTED STOCK UNIT
AGREEMENT 

MATTRESS FIRM GROUP INC. 

2022 OMNIBUS INCENTIVE PLAN

 

Pursuant to the Restricted Stock Unit Grant
Notice (the “Grant Notice”) delivered to the Participant (as defined in the Grant Notice), and subject to the
terms of this Restricted Stock Unit Agreement (this “Restricted Stock Unit Agreement”) and the Mattress Firm
Group Inc. 2022 Omnibus Incentive Plan, as it may be amended and restated from time to time (the “Plan”), the
Company and the Participant agree as follows. Capitalized terms not otherwise defined herein shall have the same meaning as set
forth in the Plan.

 

1.            Grant of Restricted Stock Units. Subject
to the terms and conditions set forth herein and in the Plan, the Company hereby grants to the Participant the number of Restricted Stock
Units provided in the Grant Notice (with each Restricted Stock Unit representing an unfunded, unsecured right to receive one share of
Common Stock). The Company may make one or more additional grants of Restricted Stock Units to the Participant under this Restricted Stock
Unit Agreement by providing the Participant with a new grant notice, which may also include any terms and conditions differing from this
Restricted Stock Unit Agreement to the extent provided therein. The Company reserves all rights with respect to the granting of additional
Restricted Stock Units hereunder and makes no implied promise to grant additional Restricted Stock Units.

 

2.            Vesting. Subject to the conditions contained
herein and in the Plan, the Restricted Stock Units shall vest as provided in the Grant Notice.

 

3.            Settlement
of Restricted Stock Units. Subject to any election by the Committee pursuant to Section 8(d)(ii) of the Plan, the
Company will deliver to the Participant, without charge, as soon as reasonably practicable (and, in any event, within two and
one-half months) following the applicable vesting date, one share of Common Stock for each Restricted Stock Unit (as adjusted under
the Plan, as applicable) which becomes vested hereunder and such vested Restricted Stock Unit shall be cancelled upon such delivery.
The Company shall either (a) deliver, or cause to be delivered, to the Participant a certificate or certificates therefor,
registered in the Participant’s name or (b) cause such shares of Common Stock to be credited to the Participant’s
account at the third party plan administrator. Notwithstanding anything in this Restricted Stock Unit Agreement to the contrary, the
Company shall have no obligation to issue or transfer any shares of Common Stock as contemplated by this Restricted Stock Unit
Agreement unless and until such issuance or transfer complies with all relevant provisions of law and the requirements of any stock
exchange on which the Company’s shares of Common Stock are listed for trading.

 

4.            Treatment of Restricted Stock Units Upon Termination.
Upon a Termination, the Restricted Stock Units shall be treated in accordance with the Grant Notice.

 

5.            Company;
Participant.

 

(a)           The term “Company” as used in
this Restricted Stock Unit Agreement with reference to service shall include the Company and its Subsidiaries.

 

     

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(b)           Whenever
the word “Participant” is used in any provision of this Restricted Stock Unit Agreement under circumstances where the
provision should logically be construed to apply to the executors, the administrators, or the person or persons to whom the
Restricted Stock Units may be transferred in accordance with Section 13(b) of the Plan, the word “Participant”
shall be deemed to include such person or person.

 

6.            Non-Transferability. The Restricted Stock
Units are not transferable by the Participant except to Permitted Transferees in accordance with Section 13(b) of the Plan.
Except as otherwise provided herein, no assignment or transfer of the Restricted Stock Units, or of the rights represented thereby, whether
voluntary or involuntary, by operation of law or otherwise, shall vest in the assignee or transferee any interest or right herein whatsoever,
but immediately upon such assignment or transfer the Restricted Stock Units shall terminate and become of no further effect.

 

7.            Rights as Shareholder. Subject to any dividend
equivalent payments to be provided to the Participant in accordance with the Grant Notice and Section 13(c)(iii) of the Plan,
the Participant or a Permitted Transferee of the Restricted Stock Units shall have no rights as a shareholder with respect to any share
of Common Stock underlying a Restricted Stock Unit unless and until the Participant shall have become the holder of record or the beneficial
owner of such share of Common Stock, and no adjustment shall be made for dividends or distributions or other rights in respect of such
share of Common Stock for which the record date is prior to the date upon which the Participant shall become the holder of record or the
beneficial owner thereof.

 

8.            Tax Withholding. The provisions of
Section 13(d) of the Plan are incorporated herein by reference and made a part hereof. The Participant shall satisfy such
Participant’s withholding liability, if any, referred to in Section 13(d) of the Plan by having the Company withhold
from the number of shares of Common Stock otherwise deliverable pursuant to the settlement of the Restricted Stock Units a number of
shares of Common Stock with a Fair Market Value, on the date that the Restricted Stock Units are settled, equal to such withholding
liability; provided, that the number of such shares may not have a Fair Market Value greater than the minimum required
statutory withholding liability unless determined by the Committee not to result in adverse accounting consequences.

 

9.            Notice.
Every notice or other communication relating to this Restricted Stock Unit Agreement between the Company and the Participant shall be
in writing, which may include by electronic mail, and shall be mailed to or delivered to the party for whom it is intended at such address
as may from time to time be designated by such party in a notice mailed or delivered to the other party as herein provided; provided,
that, unless and until some other address be so designated, all notices or communications by the Participant to the Company shall be
mailed or delivered to the Company at its principal executive office, to the attention of the Company’s General Counsel or its
designee, and all notices or communications by the Company to the Participant may be given to the Participant personally or may be mailed
to the Participant at the Participant’s last known address, as reflected in the Company’s records. Notwithstanding the above,
all notices and communications between the Participant and any third-party plan administrator shall be mailed, delivered, transmitted
or sent in accordance with the procedures established by such third-party plan administrator and communicated to the Participant from
time to time.

 

     

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10.          No
Right to Continued Service. This Restricted Stock Unit Agreement does not confer upon the Participant any right to continue as a
director or other service provider to the Company.

 

11.          Binding
Effect. This Restricted Stock Unit Agreement shall be binding upon the heirs, executors, administrators and successors of the parties
hereto.

 

12.           Waiver and Amendments. Except as otherwise
set forth in Section 12 of the Plan, any waiver, alteration, amendment or modification of any of the terms of this Restricted Stock
Unit Agreement shall be valid only if made in writing and signed by the parties hereto; provided, however, that any such
waiver, alteration, amendment or modification is consented to on the Company’s behalf by the Committee. No waiver by either of the
parties hereto of their rights hereunder shall be deemed to constitute a waiver with respect to any subsequent occurrences or transactions
hereunder unless such waiver specifically states that it is to be construed as a continuing waiver.

 

13.          Clawback/Forfeiture. Notwithstanding anything
to the contrary contained herein or in the Plan, if the Participant has engaged in or engages in any Detrimental Activity, then the Committee
may, in its sole discretion, take actions permitted under the Plan, including: (a) canceling the Restricted Stock Units, or (b) requiring
that the Participant forfeit any gain realized on the disposition of any shares of Common Stock received upon vesting of the Restricted
Stock Units, and repay such gain to the Company. In addition, if the Participant receives any amount in excess of what the Participant
should have received under the terms of this Restricted Stock Unit Agreement for any reason (including without limitation by reason of
a financial restatement, mistake in calculations or other administrative error), then the Participant shall be required to repay any such
excess amount to the Company. Without limiting the foregoing, all Restricted Stock Units shall be subject to reduction, cancellation,
forfeiture or recoupment to the extent necessary to comply with applicable law.

 

14.          Governing
Law. This Restricted Stock Unit Agreement shall be construed and interpreted in accordance with the laws of the State of Delaware,
without regard to the principles of conflicts of law thereof. Notwithstanding anything contained in this Restricted Stock Unit Agreement,
the Grant Notice or the Plan to the contrary, if any suit or claim is instituted by the Participant or the Company relating to this Restricted
Stock Unit Agreement, the Grant Notice or the Plan, the Participant hereby submits to the exclusive jurisdiction of and venue in the
courts of Delaware.

 

15.           Plan.
The terms and provisions of the Plan are incorporated herein by reference. In the event of a conflict or inconsistency between the terms
and provisions of the Plan and the provisions of this Restricted Stock Unit Agreement (including the Grant Notice), the Plan shall govern
and control.

 

     

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16.          Section 409A. It is intended that
the Restricted Stock Units granted hereunder shall be exempt from Section 409A of the Code pursuant to the “short-term deferral”
rule applicable to such section, as set forth in the regulations or other guidance published by the Internal Revenue Service thereunder.

 

17.          Imposition
of Other Requirements. The Company reserves the right to impose other requirements on the Participant’s participation in
the Plan, on the Restricted Stock Units and on any shares of Common Stock acquired under the Plan, to the extent the Company
determines it is necessary or advisable for legal or administrative reasons, and to require the Participant to sign any additional
agreements or undertakings that may be necessary to accomplish the foregoing.

 

18.          Electronic
Delivery and Acceptance. The Company may, in its sole discretion, decide to deliver any documents related to current or future participation
in the Plan by electronic means. The Participant hereby consents to receive such documents by electronic delivery and agrees to participate
in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.

 

19.          Entire
Agreement. This Restricted Stock Unit Agreement, the Grant Notice and the Plan constitute the entire agreement of the parties hereto
in respect of the subject matter contained herein and supersede all prior agreements and understandings of the parties, oral and written,
with respect to such subject matter.

 

     

     

    

 

Employee IPO RSU Form

 

RESTRICTED STOCK UNIT
GRANT NOTICE 

UNDER THE 

MATTRESS FIRM GROUP INC. 

2022 OMNIBUS INCENTIVE PLAN

 

Mattress Firm Group Inc., a Delaware corporation
(the “Company”), pursuant to its 2022 Omnibus Incentive Plan, as it may be amended and restated from time to time (the
 “Plan”), hereby grants to the Participant set forth below the number of Restricted Stock Units set forth below. The
Restricted Stock Units are subject to all of the terms and conditions as set forth herein, in the Restricted Stock Unit Agreement (attached
hereto or previously provided to the Participant), and in the Plan, all of which are incorporated herein in their entirety. Capitalized
terms not otherwise defined herein shall have the meaning set forth in the Plan.

 

	Participant:	[First Name] [Last Name]
	 	 
	Date of Grant:	[●]	 	 
	 	 	 	 
	Vesting Commencement Date:	[●]	 	 
	 	 	 	 
	Number of	 	 	 
	Restricted Stock Units:	[●]	 	 
	 	 	 	 
	Vesting Schedule:	Provided that
    the Participant has not undergone a Termination prior to
    the vesting date, 100% of the Restricted Stock Units shall
    cliff-vest on the third anniversary of the Vesting Commencement
    Date (the “Vesting Date”). Upon a
    Termination for any reason prior to the Vesting Date all Restricted
    Stock Units shall immediately be forfeited for no consideration.
    Notwithstanding the foregoing, in the event that the
    Participant undergoes a Termination by the Service Recipient without
    Cause (including death or Disability) on or within the 6 months
    following a Change in Control in which the Restricted Stock
    Units are substituted or assumed, all unvested Restricted Stock
    Units shall become fully vested upon the date of such Termination. 
	 	 
	Dividend Equivalents:	The
    Restricted Stock Units shall be credited with cash dividend equivalent
    payments, as provided in Section 13(c)(iii) of the Plan.
	 	 
	 	 	 	 

 

  *                   *                  *

 

     

     

    

 

Employee IPO RSU Form

 

THE UNDERSIGNED PARTICIPANT ACKNOWLEDGES RECEIPT
OF THIS RESTRICTED STOCK UNIT GRANT NOTICE, THE RESTRICTED STOCK UNIT AGREEMENT AND THE PLAN, AND, AS AN EXPRESS CONDITION TO THE GRANT
OF RESTRICTED STOCK UNITS HEREUNDER, AGREES TO BE BOUND BY THE TERMS OF THIS RESTRICTED STOCK UNIT GRANT NOTICE, THE RESTRICTED STOCK
UNIT AGREEMENT AND THE PLAN.

 

	PARTICIPANT1	 
	 	 
		 
	 	 
	MATTRESS FIRM GROUP INC.	 
	 	 
		 
	 	 
	By:	 
	Title:	 

 

 

1. To the extent that the Company has established, either itself or through a third-party plan administrator, the ability to accept this
award electronically, such acceptance shall constitute the Participant's signature hereto.

 

[Signature Page to Restricted Stock Unit Agreement
(Employees)]Exhibit 10.22

 

INDEMNIFICATION AGREEMENT

 

This Indemnification Agreement
is effective as of [______], 2021 (this “Agreement”) and is between Mattress Firm Group Inc., a Delaware corporation
(the “Company”), and the undersigned director of the Company (the “Indemnitee”).

 

Background

 

The Company believes that,
in order to attract and retain highly competent persons to serve as directors following the Company’s initial public offering, it
must provide such persons with adequate protection through indemnification against the risks of claims and actions against them arising
out of their services to and activities on behalf of the Company.

 

The Company desires and has
requested Indemnitee to serve as a director of the Company and, in order to induce the Indemnitee to serve in such capacity, the Company
is willing to grant the Indemnitee the indemnification provided for herein. Indemnitee is willing to so serve on the basis that such indemnification
be provided.

 

The parties by this Agreement
desire to set forth their agreement regarding indemnification and the advancement of expenses.

 

In consideration of Indemnitee’s
service to the Company, the covenants and agreements set forth below and for other good and valuable consideration, the receipt and adequacy
of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

Section 1.              
Indemnification. To the fullest extent permitted by the General Corporation Law of the State of Delaware (the “DGCL”):

 

(a)              
The Company shall indemnify Indemnitee if Indemnitee was or is made or is threatened to be made a party to, or is otherwise involved
in, as a witness or otherwise, any threatened, pending or completed action, suit or proceeding (brought in the right of the Company or
otherwise), whether civil, criminal, administrative or investigative and whether formal or informal, including appeals, by reason of the
fact that Indemnitee is or was or has agreed to serve as a director or officer, or while serving as a director or officer of the Company,
is or was serving or has agreed to serve at the request of the Company as a director, officer, employee or agent (which, for purposes
hereof, shall include a trustee, fiduciary, partner or manager or similar capacity) of another corporation, limited liability company,
partnership, joint venture, trust, employee benefit plan or other enterprise, or by reason of any action alleged to have been taken or
omitted in any such capacity.

 

(b)              
The indemnification provided by this Section 1 shall be from and against all loss and liability suffered and expenses
(including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by or on behalf of
Indemnitee in connection with such action, suit or proceeding, including any appeals.

 

     

     

    

 

Section 2.               Advance
Payment of Expenses. To the fullest extent permitted by the DGCL, expenses (including reasonable attorneys’ fees)
incurred by Indemnitee in appearing at, participating in or defending any action, suit or proceeding or in connection with an
enforcement action as contemplated by Section 3(e), shall be paid by the Company in advance of the final disposition of
such action, suit or proceeding within 30 days after receipt by the Company of a statement or statements from Indemnitee requesting
such advance or advances from time to time. The Indemnitee hereby undertakes to repay any amounts advanced (without interest) to the
extent that it is ultimately determined that Indemnitee is not entitled under this Agreement to be indemnified by the Company in
respect thereof. No other form of undertaking shall be required of Indemnitee other than the execution of this Agreement. This Section 2
shall be subject to Section 3(b) and shall not apply to any claim made by Indemnitee for which indemnity is excluded
pursuant to Section 7 and Section 8.

 

Section 3.              
Procedure for Indemnification; Notification and Defense of Claim.

 

(a)              
Promptly after receipt by Indemnitee of notice of the commencement of any action, suit or proceeding, Indemnitee shall, if a claim
in respect thereof is to be made against the Company hereunder, notify the Company in writing of the commencement thereof. The failure
to promptly notify the Company of the commencement of the action, suit or proceeding, or of Indemnitee’s request for indemnification,
will not relieve the Company from any liability that it may have to Indemnitee hereunder, except to the extent the Company is actually
and materially prejudiced in its defense of such action, suit or proceeding as a result of such failure. To obtain indemnification under
this Agreement, Indemnitee shall submit to the Company a written request therefor including such documentation and information as is reasonably
available to Indemnitee and is reasonably necessary to enable the Company to determine whether and to what extent Indemnitee is entitled
to indemnification.

 

(b)              
With respect to any action, suit or proceeding of which the Company is so notified as provided in this Agreement, the Company shall,
subject to the last two sentences of this paragraph, be entitled to assume the defense of such action, suit or proceeding, with counsel
reasonably acceptable to Indemnitee, upon the delivery to Indemnitee of written notice of its election to do so. After delivery of such
notice, approval of such counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee
under this Agreement for any subsequently-incurred fees of separate counsel engaged by Indemnitee with respect to the same action, suit
or proceeding unless the employment of separate counsel by Indemnitee has been previously authorized in writing by the Company. Notwithstanding
the foregoing, if Indemnitee, based on the advice of his or her counsel, shall have reasonably concluded (with written notice being given
to the Company setting forth the basis for such conclusion) that, in the conduct of any such defense, there is or is reasonably likely
to be a conflict of interest or position between the Company and Indemnitee with respect to a significant issue, then the Company will
not be entitled, without the written consent of Indemnitee, to assume such defense. In addition, the Company will not be entitled, without
the written consent of Indemnitee, to assume the defense of any claim brought by or in the right of the Company.

 

(c)               To
the fullest extent permitted by the DGCL, the Company’s assumption of the defense of an action, suit or proceeding in
accordance with paragraph (b) above will constitute an irrevocable acknowledgement by the Company that any loss and
liability suffered by Indemnitee and expenses (including reasonable attorneys’ fees), judgments, fines and amounts paid in
settlement by or for the account of Indemnitee incurred in connection therewith are indemnifiable by the Company under Section 1 of
this Agreement.

 

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(d)              
The determination whether to grant Indemnitee’s indemnification request shall be made promptly and in any event within 30
days following the Company’s receipt of a request for indemnification in accordance with Section 3(a). If the Company
determines that Indemnitee is entitled to such indemnification or, as contemplated by paragraph (c) above, the Company
has acknowledged such entitlement, the Company will make payment to Indemnitee of the indemnifiable amount within such 30 day period.
If the Company is not deemed to have so acknowledged such entitlement or the Company’s determination of whether to grant Indemnitee’s
indemnification request shall not have been made within such 30 day period, the requisite determination of entitlement to indemnification
shall, subject to Section 7, nonetheless be deemed to have been made and Indemnitee shall be entitled to such indemnification,
absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s
statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification
under the DGCL.

 

(e)              
In the event that (i) the Company determines in accordance with this Section 3 that Indemnitee is not
entitled to indemnification under this Agreement, (ii) the Company denies a request for indemnification, in whole or in part, or
fails to respond or make a determination of entitlement to indemnification within 30 days following receipt of a request for indemnification
as described above, (iii) payment of indemnification is not made within such 30 day period, (iv) advancement of expenses is
not timely made in accordance with Section 2, or (v) the Company or any other person takes or threatens to take any action
to declare this Agreement void or unenforceable, or institutes any litigation or other action or proceeding designed to deny, or to recover
from, Indemnitee the benefits provided or intended to be provided to Indemnitee hereunder, Indemnitee shall be entitled to an adjudication
in any court of competent jurisdiction of his or her entitlement to such indemnification or advancement of expenses. Indemnitee’s
expenses (including reasonable attorneys’ fees) incurred in connection with successfully establishing Indemnitee’s right to
indemnification or advancement of expenses, in whole or in part, in any such proceeding or otherwise shall also be indemnified by the
Company to the fullest extent permitted by the DGCL.

 

(f)               
Indemnitee shall be presumed to be entitled to indemnification and advancement of expenses under this Agreement upon submission
of a request therefor in accordance with Section 2 or Section 3 of this Agreement, as the case may be. The Company
shall have the burden of proof in overcoming such presumption, and such presumption shall be used as a basis for a determination of entitlement
to indemnification and advancement of expenses unless the Company overcomes such presumption by clear and convincing evidence.

 

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Section 4.              
Change in Control.

 

(a)               The
Company agrees that if there is a Change in Control of the Company, then with respect to all matters thereafter arising concerning
the rights of Indemnitee to indemnification and advancement of expenses under this Agreement, any other agreement or the
Company’s certificate of incorporation or bylaws now or hereafter in effect, the Company shall seek legal advice only from
independent counsel selected by Indemnitee and approved by the Company (which approval shall not be unreasonably withheld). In
addition, upon written request by Indemnitee for indemnification pursuant to Section 3(a), a determination, if required
by the DGCL, with respect to Indemnitee’s entitlement thereto shall be made by such independent counsel in a written opinion
to the board of directors of the Company, a copy of which shall be delivered to Indemnitee. The Company agrees to pay the reasonable
fees of the independent counsel referred to above and to indemnify fully such counsel against any and all expenses (including
reasonable attorney’s fees), claims, liabilities and damages arising out of or relating to this Agreement or its engagement
pursuant hereto. 

 

(b)              
For purposes of this Section 4, the following definitions shall apply:

 

(i)                
A “Change in Control” shall have the meaning ascribed thereto in the Mattress Firm Group Inc. 2022 Omnibus
Incentive Plan.

 

(ii)             
The term “independent counsel” means a law firm, or a member of a law firm, that is experienced in matters
of corporation law and neither presently is, nor in the past five years has been, retained to represent: (A) the Company or Indemnitee
in any matter material to either such party, or (B) any other party to the action, suit or proceeding giving rise to a claim for
indemnification hereunder. Notwithstanding the foregoing, the term “independent counsel” shall not include any person who,
under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company
or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

 

Section 5.              
Insurance and Subrogation.

 

(a)              
The Company shall use its reasonable best efforts to purchase and maintain a policy or policies of insurance with reputable insurance
companies, providing Indemnitee with coverage for any liability asserted against, and incurred by, Indemnitee or on Indemnitee’s
behalf by reason of the fact that Indemnitee is or was or has agreed to serve as a director or officer, or while serving as a director
or officer of the Company, is or was serving or has agreed to serve at the request of the Company as a director, officer, employee or
agent (which, for purposes hereof, shall include a trustee, fiduciary, partner or manager or similar capacity) of another corporation,
limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise, or arising out of Indemnitee’s
status as such, whether or not the Company would have the power to indemnify Indemnitee against such liability under the provisions of
this Agreement. Such insurance policies shall have coverage terms and policy limits at least as favorable to Indemnitee as the insurance
coverage provided to any other director or officer of the Company. If the Company has such insurance in effect at the time the Company
receives from Indemnitee any notice of the commencement of an action, suit or proceeding, the Company shall give prompt notice of the
commencement of such action, suit or proceeding to the insurers in accordance with the procedures set forth in the policy. The Company
shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as
a result of such proceeding in accordance with the terms of such policy.

 

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(b)               Subject
to Section 10(b), in the event of any payment by the Company under this Agreement, the Company shall be subrogated to
the extent of such payment to all of the rights of recovery of Indemnitee with respect to any insurance policy. Indemnitee shall
execute all papers required and take all action necessary to secure such rights, including execution of such documents as are
necessary to enable the Company to bring suit to enforce such rights in accordance with the terms of such insurance policy. The
Company shall pay or reimburse all expenses actually and reasonably incurred by Indemnitee in connection with such subrogation.

 

(c)              
Subject to Section 10(b), the Company shall not be liable under this Agreement to make any payment of amounts otherwise
indemnifiable hereunder (including, but not limited to, judgments, fines and amounts paid in settlement, and excise taxes or penalties
relating to the Employee Retirement Income Security Act of 1974, as amended) if and to the extent that Indemnitee has otherwise actually
received such payment under this Agreement or any insurance policy, contract, agreement or otherwise.

 

Section 6.              
Certain Definitions. For purposes of this Agreement, the following definitions shall apply:

 

(a)              
The term “action, suit or proceeding” shall be broadly construed and shall include, without limitation, the
investigation, preparation, prosecution, defense, settlement, arbitration and appeal of, and the giving of testimony in, any threatened,
pending or completed claim, action, suit, arbitration, alternative dispute mechanism or proceeding, whether civil, criminal, administrative
or investigative.

 

(b)              
The term “by reason of the fact that Indemnitee is or was or has agreed to serve as a director or officer of the Company,
or while serving as a director or officer of the Company, is or was serving or has agreed to serve at the request of the Company as a
director, officer, employee or agent (which, for purposes hereof, shall include a trustee, partner or manager or similar capacity) of
another corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise” shall
be broadly construed and shall include, without limitation, any actual or alleged act or omission to act.

 

(c)              
The term “expenses” shall be broadly construed and shall include, without limitation, all direct and indirect
costs of any type or nature whatsoever (including, without limitation, all attorneys’ fees and related disbursements, appeal bonds,
other out-of-pocket costs and reasonable compensation for time spent by Indemnitee for which Indemnitee is not otherwise compensated
by the Company or any third party), actually and reasonably incurred by Indemnitee in connection with either the investigation, defense
or appeal of an action, suit or proceeding or establishing or enforcing a right to indemnification under this Agreement or otherwise incurred
in connection with a claim that is indemnifiable hereunder.

 

(d)              
The term “judgments, fines and amounts paid in settlement” shall be broadly construed and shall include, without
limitation, all direct and indirect payments of any type or nature whatsoever, as well as any penalties or excise taxes assessed on a
person with respect to an employee benefit plan).

 

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Section 7.              
Limitation on Indemnification. Notwithstanding any other provision herein to the contrary, the Company shall not be
obligated pursuant to this Agreement:

 

(a)              
 Claims Initiated by Indemnitee. Prior to a change of control, to indemnify or advance expenses to Indemnitee with respect
to an action, suit or proceeding (or part thereof), however denominated, initiated by Indemnitee, other than (i) an action, suit
or proceeding brought to establish or enforce a right to indemnification or advancement of expenses under this Agreement (which shall
be governed by the provisions of Section 7(b) of this Agreement) and (ii) an action, suit or proceeding (or
part thereof) that was authorized or consented to by the board of directors of the Company, it being understood and agreed that such authorization
or consent shall not be unreasonably withheld in connection with any compulsory counterclaim brought by Indemnitee in response to an action,
suit or proceeding otherwise indemnifiable under this Agreement.

 

(b)              
Action for Indemnification. To indemnify Indemnitee for any expenses incurred by Indemnitee with respect to any action,
suit or proceeding instituted by Indemnitee to enforce or interpret this Agreement, unless Indemnitee is successful in such action, suit
or proceeding in establishing Indemnitee’s right, in whole or in part, to indemnification or advancement of expenses hereunder (in
which case such indemnification or advancement shall be to the fullest extent permitted by the DGCL), or unless and to the extent that
the court in such action, suit or proceeding shall determine that, despite Indemnitee’s failure to establish his or her right to
indemnification, Indemnitee is entitled to indemnification for such expenses; provided, however, that nothing
in this Section 7(b) is intended to limit the Company’s obligations with respect to the advancement of expenses
to Indemnitee in connection with any such action, suit or proceeding instituted by Indemnitee to enforce or interpret this Agreement,
as provided in Section 2 hereof.

 

(c)              
Actions Based on Federal Statutes Regarding Profit Recovery and Return of Bonus Payments. To indemnify Indemnitee on account
of (i) any suit in which judgment is rendered against Indemnitee for disgorgement of profits made from the purchase or sale by Indemnitee
of securities of the Company pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934, as amended (the
 “Exchange Act”) or (ii) any reimbursement of the Company by the Indemnitee of any bonus or other incentive-based
or equity-based compensation or of any profits realized by the Indemnitee from the sale of securities of the Company, as required in each
case under the Exchange Act (including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304
of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the Company of profits arising from
the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act).

 

(d)              
Fraud or Willful Misconduct. To indemnify Indemnitee on account of conduct by Indemnitee where such conduct has been determined
by a final (not interlocutory) judgment or other adjudication of a court or arbitration or administrative body of competent jurisdiction
as to which there is no further right or option of appeal, or the time within which an appeal must be filed has expired without such filing,
to have been knowingly fraudulent or constitute willful misconduct.

 

(e)               Prohibited
by Law. To indemnify Indemnitee in any circumstance where such indemnification has been determined by a final (not
interlocutory) judgment or other adjudication of a court or arbitration or administrative body of competent jurisdiction as to which
there is no further right or option of appeal, or the time within which an appeal must be filed has expired without such filing
having been made, to be prohibited by law.

 

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Section 8.              
Certain Settlement Provisions. The Company shall have no obligation to indemnify Indemnitee under this Agreement for
any amounts paid in settlement of any action, suit or proceeding without the Company’s prior written consent. The Company shall
not settle any action, suit or proceeding in any manner that would impose any fine or other obligation on Indemnitee without Indemnitee’s
prior written consent. Neither the Company nor Indemnitee will unreasonably withhold his, her, its or their consent to any proposed settlement.

 

Section 9.              
Savings Clause. If any provision or provisions (or portion thereof) of this Agreement shall be invalidated on any ground
by any court of competent jurisdiction, then the Company shall nevertheless indemnify Indemnitee if Indemnitee was or is made or is threatened
to be made a party or is otherwise involved in any threatened, pending or completed action, suit or proceeding (brought in the right of
the Company or otherwise), whether civil, criminal, administrative or investigative and whether formal or informal, including appeals,
by reason of the fact that Indemnitee is or was or has agreed to serve as a director or officer of the Company, or while serving as a
director or officer of the Company, is or was serving or has agreed to serve at the request of the Company as a director, officer, employee
or agent (which, for purposes hereof, shall include a trustee, partner or manager or similar capacity) of another corporation, limited
liability company, partnership, joint venture, trust, employee benefit plan or other enterprise, or by reason of any action alleged to
have been taken or omitted in such capacity, from and against all loss and liability suffered and expenses (including reasonable attorneys’
fees), judgments, fines and amounts paid in settlement reasonably incurred by or on behalf of Indemnitee in connection with such action,
suit or proceeding, including any appeals, to the fullest extent permitted by any applicable portion of this Agreement that shall not
have been invalidated.

 

Section 10.          
Contribution/Jointly Indemnifiable Claims.

 

(a)              
In order to provide for just and equitable contribution in circumstances in which the indemnification provided for herein is held
by a court of competent jurisdiction to be unavailable to Indemnitee in whole or in part, it is agreed that, in such event, the Company
shall, to the fullest extent permitted by the DGCL, contribute to the payment of all of Indemnitee’s loss and liability suffered
and expenses (including reasonable attorneys’ fees), judgments, fines and amounts paid in settlement reasonably incurred by or on
behalf of Indemnitee in connection with any action, suit or proceeding, including any appeals, in an amount that is just and equitable
in the circumstances; provided, that, without limiting the generality of the foregoing, such contribution shall not be required
where such holding by the court is due to any limitation on indemnification set forth in Section 5(c), 7 (other
than clause (e)) or 8 hereof.

 

    7

     

    

 

(b)               Given
that certain jointly indemnifiable claims may arise due to the service of the Indemnitee as a director and/or officer of the Company
at the request of the Indemnitee-related entities, the Company acknowledges and agrees that the Company shall be fully and primarily
responsible for the payment to the Indemnitee in respect of indemnification or advancement of expenses in connection with any such
jointly indemnifiable claim, pursuant to and in accordance with the terms of this Agreement, irrespective of any right of recovery
the Indemnitee may have from the Indemnitee-related entities. Under no circumstance shall the Company be entitled to any right of
subrogation against or contribution by the Indemnitee-related entities and no right of advancement, indemnification or recovery the
Indemnitee may have from the Indemnitee-related entities shall reduce or otherwise alter the rights of the Indemnitee or the
obligations of the Company hereunder. In the event that any of the Indemnitee-related entities shall make any payment to the
Indemnitee in respect of indemnification or advancement of expenses with respect to any jointly indemnifiable claim, the
Indemnitee-related entity making such payment shall be subrogated to the extent of such payment to all of the rights of recovery of
the Indemnitee against the Company, and Indemnitee shall execute all papers reasonably required and shall do all things that may be
reasonably necessary to secure such rights, including the execution of such documents as may be necessary to enable the
Indemnitee-related entities effectively to bring suit to enforce such rights. The Company and Indemnitee agree that each of the
Indemnitee-related entities shall be third-party beneficiaries with respect to this Section 10(b), entitled to
enforce this Section 10(b) as though each such Indemnitee-related entity were a party to this Agreement. For
purposes of this Section 10(b), the following terms shall have the following meanings:

 

(i)                
The term “Indemnitee-related entities” means any corporation, limited liability company, partnership, joint venture,
trust, employee benefit plan or other enterprise (other than the Company or any other corporation, limited liability company, partnership,
joint venture, trust, employee benefit plan or other enterprise Indemnitee has agreed, on behalf of the Company or at the Company’s
request, to serve as a director, officer, employee or agent and which service is covered by the indemnity described in this Agreement)
from whom an Indemnitee may be entitled to indemnification or advancement of expenses with respect to which, in whole or in part, the
Company may also have an indemnification or advancement obligation (other than as a result of obligations under an insurance policy).

 

(ii)             
The term “jointly indemnifiable claims” shall be broadly construed and shall include, without limitation, any action,
suit or proceeding for which the Indemnitee shall be entitled to indemnification or advancement of expenses from both the Indemnitee-related
entities and the Company pursuant to the DGCL, any agreement or the certificate of incorporation, bylaws, partnership agreement, operating
agreement, certificate of formation, certificate of limited partnership or comparable organizational documents of the Company or the Indemnitee-related
entities, as applicable.

 

Section 11.          
Form and Delivery of Communications. All notices, requests, demands and other communications under this Agreement shall
be in writing and shall be deemed to have been duly given if (a) delivered by hand, upon receipt by the party to whom said notice
or other communication shall have been directed, (b) mailed by certified or registered mail with postage prepaid, on the third
business day after the date on which it is so mailed, (c) mailed by reputable overnight courier, one day after deposit with such
courier and with written verification of receipt or (d) sent by email or facsimile transmission, with receipt of oral or written
confirmation that such transmission has been received. Notice to the Company shall be directed to Kindel L. Nuño, Executive Vice
President, Legal, General Counsel and Secretary, by email at kindel.nuno@mfrm.com, with a copy to legal@mfrm.com, or by telephone at 866-942-3551.
Notice to Indemnitee shall be directed to Indemnitee’s contact information on file with the Company’s Secretary or its Accounting
Department.

 

    8

     

    

 

Section 12.          
Nonexclusivity. The provisions for indemnification and advancement
of expenses set forth in this Agreement shall not be deemed exclusive of any other rights which Indemnitee may have under any provision
of law, in any court in which a proceeding is brought, other agreements or otherwise, and Indemnitee’s rights hereunder shall inure
to the benefit of the heirs, executors and administrators of Indemnitee. No amendment or alteration of the Company’s Certificate
of Incorporation or Bylaws or any other agreement shall adversely affect the rights provided to Indemnitee under this Agreement.

 

Section 13.          
No Construction as Employment Agreement. Nothing contained herein shall be construed as giving Indemnitee any right
to be retained as a director of the Company or in the employ of the Company. For the avoidance of doubt, the indemnification and advancement
of expenses provided under this Agreement shall continue as to the Indemnitee even though he may have ceased to be a director or officer
of the Company.

 

Section 14.          
Interpretation of Agreement. It is understood that the parties hereto intend this Agreement to be interpreted and enforced
so as to provide indemnification to Indemnitee to the fullest extent now or hereafter permitted by the DGCL.

 

Section 15.          
Entire Agreement. This Agreement and the documents expressly referred to herein constitute the entire agreement between
the parties hereto with respect to the matters covered hereby, and any other prior or contemporaneous oral or written understandings or
agreements with respect to the matters covered hereby are expressly superseded by this Agreement.

 

Section 16.          
Modification and Waiver. No supplement, modification, waiver or amendment of this Agreement shall be binding unless
executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute
a waiver of any other provision hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. For the avoidance
of doubt, this Agreement may not be terminated by the Company without Indemnitee’s prior written consent.

 

Section 17.          
Successor and Assigns. All of the terms and provisions of this Agreement shall be binding upon, shall inure to the benefit
of and shall be enforceable by the parties hereto and their respective successors, assigns, heirs, executors, administrators and legal
representatives. The Company shall require and cause any direct or indirect successor (whether by purchase, merger, consolidation or otherwise)
to all or substantially all of the business or assets of such the Company, by written agreement in form and substance reasonably satisfactory
to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would
be required to perform if no such succession had taken place.

 

Section 18.           Service
of Process and Venue. The Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or
proceeding arising out of or in connection with this Agreement shall be brought only in the Chancery Court of the State of Delaware
(the “Delaware Court”), and not in any other state or federal court in the United States of America or any court in any
other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or
proceeding arising out of or in connection with this Agreement, (iii) appoint, to the extent such party is not otherwise
subject to service of process in the State of Delaware, irrevocably Corporation Service Company, 251 Little Falls Drive, Wilmington,
DE 19808 as its agent in the State of Delaware as such party’s agent for acceptance of legal process in connection with any
such action or proceeding against such party with the same legal force and validity as if served upon such party personally within
the State of Delaware, (iv) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court,
and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court
has been brought in an improper or inconvenient forum.

 

    9

     

    

 

Section 19.          
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware.
If a court of competent jurisdiction shall make a final determination that the provisions of the law of any state other than Delaware
govern indemnification by the Company of Indemnitee, then the indemnification provided under this Agreement shall in all instances be
enforceable to the fullest extent permitted under such law, notwithstanding any provision of this Agreement to the contrary.

 

Section 20.          
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original
and all of which together shall be deemed to be one and the same instrument, notwithstanding that both parties are not signatories to
the original or same counterpart.

 

Section 21.          
Headings. The section and subsection headings contained in this Agreement are for reference purposes only and shall
not affect in any way the meaning or interpretation of this Agreement.

 

[Remainder of Page Intentionally Left Blank]

 

    10

     

    

 

This Agreement has been duly
executed and delivered to be effective as of the date first above written.

 

	Company:	  Indemnitee:

 

	MATTRESS FIRM GROUP INC.  	 

 

	By:	 	 	By:	 
	 	 	 	 	 
	Name:	 	 	Name:	 
	Title:	 	 	 

 

[Mattress Firm – Signature Page to Indemnification
Agreement]

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