Document:

EX-10.9

 Exhibit 10.9 

FISKER INC. 
 OUTSIDE
DIRECTOR COMPENSATION POLICY 
 Each member of the Board of Directors (the “Board”) of Fisker Inc. (the
“Company”) who is not an employee of the Company (each such member, an “Outside Director”) will receive the compensation described in this Outside Director Compensation Policy (the “Director
Compensation Policy”) for his or her Board service following the date this Outside Director Compensation Policy is effective (the “Effective Date”). 

The Director Compensation Policy may be amended at any time in the sole discretion of the Board. 

Annual Cash Compensation 
 Each Outside Director will
receive the cash compensation set forth below for service on the Board. The annual cash compensation amounts will be payable in arrears, in equal quarterly installments following the end of each fiscal quarter of the Company in which the
service occurred. Any amount payable for a partial quarter of service will be pro-rated by multiplying such amount by a fraction, the numerator of which will be the number of days of service that the Outside
Director provided in such quarter and the denominator of which will be the number of days in such quarter inclusive. All annual cash fees are vested upon payment. For purposes of clarity, the first quarterly installment of the annual retainers set
forth below shall be paid for the first quarter that ends on or after the Effective Date, with the amount of such payment equal to the full quarterly installment, pro-rated as applicable based on the days of
service that the Outside Director provided in such quarter. 
  

	1.	 Annual Board Member Service Retainer: 

a. All Outside Directors: $50,000. 

b. Outside Director serving as Lead Independent Director: $25,000 (in addition to above). 

 

	2.	 Annual Committee Member Service Retainer: 

a. Member of the Audit Committee: $10,000. 

b. Member of the Compensation Committee: $7,500. 

c. Member of the Nominating and Corporate Governance Committee: $5,000. 

 

	3.	 Annual Committee Chair Service Retainer (in lieu of Annual Committee Member Service Retainer):

 a. Chairperson of the Audit Committee: $25,000. 

b. Chairperson of the Compensation Committee: $18,000. 

c. Chairperson of the Nominating and Corporate Governance Committee: $10,000. 

Equity Compensation
 Equity awards will be granted under
the Company’s 2020 Equity Incentive Plan or any successor equity incentive plan adopted by the Board and the stockholders of the Company (the “Plan”). 

 

	 	(a)	 Automatic Equity Grants. 

(i) Annual Grant for Continuing Outside Directors. Without any further action of the Board, at the close of business on the date of each Annual
Meeting following the Effective Date, each continuing Outside Director shall be granted restricted stock units (“RSUs”) under the Plan covering shares of the Company’s Common Stock (“Shares”)
having an RSU Value of $200,000 (a “Continuing Director  

 
Annual RSU”); provided that the number of Shares covered by each Continuing Director Annual RSU will be rounded down to the nearest whole Share and, provided further, if the
Company does not have an effective Form S-8 registration statement on file with the SEC with sufficient Shares available to cover the applicable restricted stock unit award as of the date such award is to be
granted (an “Effective S-8”), the grant of such restricted stock unit award shall be delayed until such time as there is an Effective S-8.
Each Continuing Director Annual RSU shall vest in equal quarterly installments over the 12-month period following the grant date, subject to the applicable Outside Director’s continued service as a
member of the Board through each such vesting date. 
 (ii) Annual Grant for New Outside Directors. Without any further action of the
Board, each person who, after the Effective Date, is elected or appointed for the first time to be an Outside Director will automatically, upon the date of his or her initial election or appointment to be an Outside Director, be granted restricted
stock units under the Plan covering Shares having an RSU Value of $200,000, pro-rated based on the number of full months that are expected to lapse between the Outside Director’s appointment
to the Board and the next Annual Meeting (a “New Director Annual RSU”); provided that the number of Shares covered by each New Director Annual RSU will be rounded down to the nearest whole Share and, provided further, if
there is no Effective S-8, the grant of such restricted stock unit award shall be delayed until such time as there is an Effective S-8. Each New Director Annual RSU
shall vest in equal installments on each full quarterly anniversary from the Company’s last Annual Meeting that are expected to lapse between the Outside Director’s appointment to the Board and the next Annual Meeting, subject to the
applicable Outside Director’s continued service as a member of the Board through each such vesting date. 
 (b) Vesting; Change in
Control. All vesting is subject to the Outside Director’s continued service as a member of the Board through each applicable vesting date. Notwithstanding the foregoing, for each Outside Director who remains in continuous service
as a member of the Board until immediately prior to the closing of a “Change in Control” (as defined in the Plan), any unvested portion of any restricted stock unit award granted in consideration of such Outside
Director’s service as a member of the Board shall vest in full immediately prior to, and contingent upon, the consummation of the Change in Control. 

(c) Calculation of RSU Value. The “RSU Value” of a restricted stock unit award to be granted under this
policy will equal the number of Shares subject to the restricted stock unit award multiplied by the average closing price of a Share on the stock exchange or a national market system on which the Shares are listed over the 30 trading days preceding
the grant date. 
 (d) Remaining Terms. The remaining terms and conditions of each restricted stock unit award granted under this
policy will be as set forth in the Plan and the Company’s standard form of restricted stock unit award agreement, as amended from time to time by the Board or the Compensation Committee of the Board, as applicable. 

Discretion to Receive RSUs in Lieu of Annual Cash Retainer 

(a) RSU Election. Each Outside Director may elect to convert all or a portion of his or her Annual Board Member Service Retainer
(not including any annual retainer that an Outside Director may receive for serving as Lead Director and not including any annual retainers for committee service) into RSUs under either of the following alternatives (such election, an
“RSU Election”): 
 (i) Quarterly RSU Election. If an Outside Director timely makes a quarterly RSU Election,
then on the quarterly cash retainer payment date(s) to which such RSU Election applies, such Outside Director will automatically and in lieu of the applicable cash retainer payment be granted a number of RSUs equal to (x) the amount of cash
subject to such RSU Election divided by (y) the applicable RSU Value on such date. Such RSUs will be fully vested on the grant date. 

  
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 (ii) Annual RSU Election. If an Outside Director timely makes an annual RSU Election,
then on the Annual Meeting date(s) to which such RSU Election applies, such Outside Director will automatically and in lieu of the applicable cash retainer payment payable with respect to such fiscal year be granted a number of RSUs equal to
(x) the amount of cash subject to such RSU Election divided by (y) the applicable RSU Value on such date. Such RSUs will be subject to vesting on the same schedule, and subject to the same conditions, as applied to the underlying annual
cash retainer. 
 (b) RSU Election Mechanics. Each RSU Election must be submitted to the Company’s General Counsel in
writing at least 10 business days in advance of a cash retainer payment date (with respect to a quarterly RSU Election) or at least 10 business days in advance of the scheduled Annual Meeting date to which such RSU Election applies (with respect to
an annual RSU Election), and subject to any other conditions specified by the Board or Compensation Committee. An Outside Director may only make an RSU Election during a period in which the Company is not in a quarterly or special blackout period
and only if there is an Effective S-8. Once an RSU Election is properly submitted, it will remain in effect for successive cash retainer payment dates unless and until the Outside Director revokes it in
accordance with clause (c) below or there is no Effective S-8. 
 (c) RSU Election
Revocation Mechanics. The revocation of any RSU Election must be submitted to the Company’s General Counsel in writing at least 10 business days in advance of the cash retainer payment date to which such RSU Election applies (with respect
to a quarterly RSU Election) or at least 10 business days in advance of the scheduled Annual Meeting date to which such RSU Election applies (with respect to an annual RSU Election), and subject to any other conditions specified by the Board or
Compensation Committee. An Outside Director may only revoke an RSU Election during a period in which the Company is not in a quarterly or special blackout period. Once the revocation of the RSU Election is properly submitted, it will remain in
effect for successive cash retainer payment dates unless and until the Outside Director makes a new RSU Election in accordance in accordance with clause (b) above. The section below entitled “Discretion to Receive Cash in Lieu of
RSUs” may not be utilized as a separate means of revoking any RSU Election. 
 Discretion to Receive Cash in Lieu of RSUs 

(a) Cash Election. Each Outside Director may elect to convert all or a portion of his or her RSUs into cash (such election, a
“Cash Election”). If an Outside Director timely makes a Cash Election, then on each RSU grant date to which such Cash Election applies, such Outside Director automatically and in lieu of such RSUs will be granted a restricted
cash award with respect to the value of such RSUs as calculated in accordance with this Director Compensation Policy. Such restricted cash award will vest pursuant to the underlying RSUs’ vesting schedule in accordance with this Director
Compensation Policy (disregarding for this purpose such Cash Election). 
 (b) Cash Election Mechanics. Each Cash Election must
be submitted to the Company’s General Counsel in writing at least 10 business days in advance of the scheduled Annual Meeting date to which such Cash Election applies, and subject to any other conditions specified by the Board or Compensation
Committee and the share ownership guidelines of the Company as they may exist from time to time. An Outside Director may only make a Cash Election during a period in which the Company is not in a quarterly or special blackout period. Once a Cash
Election is properly submitted, it will be in effect for the next RSU grant date and will remain in effect for successive RSU grant dates unless and until the Outside Director revokes it in accordance with clause (c) below. 

  
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 (c) Cash Election Revocation Mechanics. The revocation of any Cash Election
must be submitted to the Company’s General Counsel in writing at least 10 business days in advance of the scheduled Annual Meeting date to which such Cash Election applies, and subject to any other conditions specified by the Board or
Compensation Committee. An Outside Director may only revoke a Cash Election during a period in which the Company is not in a quarterly or special blackout period. Once the revocation of the Cash Election is properly submitted, it will be in effect
for the next RSU grant date and will remain in effect for successive RSU grant dates unless and until the Outside Director makes a new Cash Election in accordance in accordance with clause (b) above. The section above entitled “Discretion
to Receive RSUs in Lieu of Cash” may not be utilized as a separate means of revoking any Cash Election. 
 Expenses 

The Company will reimburse each Outside Director for ordinary, necessary and reasonable
out-of-pocket travel expenses to cover in-person attendance at, and participation in, Board and committee
meetings; provided, that the Outside Director timely submits to the Company appropriate documentation substantiating such expenses in accordance with the Company’s travel and expense policy, as in effect from time to time. 

  
 4EX-10.10

 Exhibit 10.10 

FISKER INC. 
 EXECUTIVE
INCENTIVE BONUS PLAN 
  

	1.	 PURPOSE 

The purpose of the Fisker Inc. Executive Incentive Bonus Plan (as amended from time to time, the “Plan”) is to motivate
and reward eligible employees for their contributions toward the achievement of certain Performance Goals (as defined below) by Fisker Inc. (together with its subsidiaries, the “Company”). 

 

	2.	 DEFINITIONS 

The following definitions shall be applicable throughout the Plan: 

(a) “Award” means the amount of cash incentive payable under the Plan to a Participant with respect to a Performance
Period. 
 (b) “Board” means the Board of Directors of the Company, as constituted from time to time. 

(c) “Code” means the Internal Revenue Code of 1986, as amended. Reference to a specific section of the Code or
regulation thereunder shall include such section or regulation, any valid regulation promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such section or
regulation. 
 (d) “Committee” means the Compensation Committee of the Board unless another Committee is designated
by the Board. The members of any Committee designated by the Board shall be appointed from time to time by, and serve at the pleasure of, the Board. Any member of any such Committee may resign at any time by notice in writing mailed or delivered to
the Secretary of the Company. As of the Effective Date, the Plan shall be administered by the Compensation Committee of the Board. 
 (e)
“Effective Date” means [•], 2020. 
 (f) “Participant” means any officer or employee of
the Company who is designated as a Participant by the Committee. 
 (g) “Performance Goal” means a formula or
standard determined by the Committee with respect to each Performance Period based on one or more of the following criteria and any adjustment(s) thereto established by the Committee: (1) sales or
non-sales revenue; (2) return on revenues; (3) operating income; (4) income or earnings including operating income; (5) income or earnings before or after taxes, interest, depreciation
and/or amortization; (6) income or earnings from continuing operations; (7) net income; (8) pre-tax income or after-tax income; (9) net income
excluding amortization of intangible assets, depreciation and impairment of goodwill and intangible assets and/or excluding charges attributable to the adoption of new accounting pronouncements; (10) raising of financing or fundraising;
(11) project financing; (12) revenue backlog; (13) gross margin; (14) operating margin or profit margin; (15) capital expenditures, cost 

 
targets, reductions and savings and expense management; (16) return on assets (gross or net), return on investment, return on capital, or return on shareholder equity; (17) cash flow,
free cash flow, cash flow return on investment (discounted or otherwise), net cash provided by operations, or cash flow in excess of cost of capital; (18) performance warranty and/or guarantee claims; (19) stock price or total stockholder
return; (20) earnings or book value per share (basic or diluted); (21) economic value created; (22) pre-tax profit or after-tax profit;
(23) strategic business criteria, consisting of one or more objectives based on meeting specified market penetration or market share, completion of strategic agreements such as licenses, joint ventures, acquisitions, and the like, geographic
business expansion, objective customer satisfaction or information technology goals, intellectual property asset metrics; (24) objective goals relating to divestitures, joint ventures, mergers, acquisitions and similar transactions;
(25) objective goals relating to staff management, results from staff attitude and/or opinion surveys, staff satisfaction scores, staff safety, staff accident and/or injury rates, compliance, headcount, performance management, completion of
critical staff training initiatives; (26) objective goals relating to projects, including project completion, timing and/or achievement of milestones, project budget, technical progress against work plans; and (27) enterprise resource
planning. Awards issued to Participants may take into account other factors (including subjective factors). Performance Goals may differ from Participant to Participant, Performance Period to Performance Period and from Award to Award. Any criteria
used may be measured, as applicable, (i) in absolute terms, (ii) in relative terms (including, but not limited to, any increase (or decrease) over the passage of time and/or any measurement against other companies or financial or business
or stock index metrics particular to the Company), (iii) on a per share and/or share per capita basis, (iv) against the performance of the Company as a whole or against any affiliate(s), or a particular segment(s), a business unit(s) or a
product(s) of the Company or individual project company, (v) on a pre-tax or after-tax basis, and/or (vi) using an actual foreign exchange rate or on a foreign
exchange neutral basis. 
 (h) “Performance Period” means the Company’s fiscal year, multiple fiscal years or
any other period longer or shorter than one fiscal year, as determined by the Committee, in its sole discretion. The Committee may establish different Performance Periods for different Participants, and the Committee may establish concurrent or
overlapping Performance Periods. 
  

	3.	 ADMINISTRATION 

The Plan shall be administered by the Committee, which shall have the discretionary authority to interpret the provisions of the Plan,
including all decisions on eligibility to participate, the establishment of Performance Goals, the amount of Awards payable under the Plan, and the payment of Awards. The Committee shall also have the discretionary authority to establish rules under
the Plan so long as such rules do not explicitly conflict with the terms of the Plan and any such rules shall constitute part of the Plan. The decisions of the Committee shall be final and binding on all parties making claims under the Plan. The
Committee, in its sole discretion and on such terms and conditions as it may provide, may delegate all or part of its authority and powers under the Plan to one or more directors and/or officers of the Company. 

  
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	4.	 ELIGIBILITY 

Officers and other key employees of the Company designated by the Committee to participate in the Plan shall be eligible to participate in this
Plan, provided the Committee has not, in its sole discretion, withdrawn such designation and he or she meets the following conditions: 
 (a)
is a part-time or full-time regular employee of the Company as of the last day of the applicable Performance Period; and 
 (b) is not
subject to disciplinary action, is in good standing with the Company and is not subject to a performance improvement plan. 
  

	5.	 AMOUNT OF AWARDS 

With respect to each Participant, the Committee will establish one or more Performance Periods, an individual Participant incentive target
(which may be, but is not required to be, based on the Participant’s base salary) for each Performance Period and the Performance Goal(s) to be met during such Performance Period(s). 

Except as otherwise required by applicable law or as determined by the Committee, base salary shall not include salary paid during any paid
leave of absence or any variable forms of compensation including, but not limited to, overtime, on-call pay, lead premiums, shift differentials, bonuses, incentive compensation, commissions, stock options,
restricted stock units, restricted stock, stock appreciation rights, or expense allowances or reimbursements. Nothing in the Plan, or arising as a result of a Participant’s participation in the Plan, shall prevent the Company from changing a
Participant’s base salary at any time based on such factors as the Company shall in its discretion determine appropriate. 
 Awards may
be pro-rated on any basis determined appropriate in the Committee’s sole discretion, including, but not limited to, in connection with transfers to new positions or new locations, new hires, Participants
on a leave of absence for all or any portion of a Performance Period, or Participants working less than full-time. The Committee reserves the right, in its sole discretion, to increase, reduce or eliminate the amount of an Award otherwise payable to
a Participant with respect to any Performance Period. 
  

	6.	 PAYMENT OF AWARDS 

(a) Unless otherwise determined by the Committee, a Participant must be actively employed and in good standing with the Company on the date the
Award is paid. The Committee may make exceptions to this requirement in the case of retirement, death or disability, an unqualified leave of absence or under other circumstances, as determined by the Committee in its sole discretion. 

(b) Any distribution made under the Plan shall be made in cash and shall occur within a reasonable period of time after the end of the
Performance Period in which the Participant has earned the Award. Notwithstanding the foregoing, in order to comply with the short-term deferral exception under Code Section 409A, if the Committee waives the requirement that a Participant
must be employed on the date the Award is to be paid, payout shall occur no later than the 15th day of the third month following the later of (i) the end of the Company’s taxable year in which such Award is earned or (ii) the end of
the calendar year in which such Award is earned, or shall otherwise be structured to comply with, or be exempt from, Code Section 409A. 

  
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	7.	 GENERAL 

(a) TAX WITHHOLDING. The Company shall have the right to deduct from all Awards any applicable taxes, and any other deductions, required to be
withheld with respect to such payments. The Company also may withhold such amounts from any other amount payable by the Company or any affiliate to the Participant, subject to compliance with applicable laws. 

(b) CLAIM TO AWARDS AND EMPLOYMENT RIGHTS. Nothing in the Plan shall confer on any Participant the right to continued employment with the
Company or any of its affiliates, or affect in any way the right of the Company or any affiliate to terminate the Participant’s employment at any time, and for any reason, or change the Participant’s responsibilities. Awards represent
unfunded and unsecured obligations of the Company and a holder of any right hereunder in respect of any Award shall have no rights other than those of a general unsecured creditor to the Company. 

(c) BENEFICIARIES. To the extent the Committee permits beneficiary designations, any payment of Awards under the Plan to a deceased Participant
shall be paid to the beneficiary duly designated by the Participant in accordance with the Company’s practices. If no such beneficiary has been designated or survives the Participant, payment shall be made to the Participant’s legal
representative, legal beneficiary or estate, as applicable. A beneficiary designation may be changed or revoked by a Participant at any time, provided the change or revocation is filed with the Committee prior to the Participant’s death. 

(d) NONTRANSFERABILITY. A person’s rights and interests under the Plan, including any Award previously made to such person or any amounts
payable under the Plan, may not be sold, assigned, pledged, transferred or otherwise alienated or hypothecated except, in the event of a Participant’s death, to a designated beneficiary as provided in the Plan, or in the absence of such
designation, by will or the laws of descent and distribution. 
 (e) SUCCESSOR. All obligations of the Company under the Plan, with respect
to Awards granted hereunder, shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business
or assets of the Company. 
 (f) INDEMNIFICATION. Each person who is or shall have been a member of the Committee and each employee of the
Company or an affiliate who is delegated a duty under the Plan shall be indemnified and held harmless by the Company from and against any loss, cost, liability or expense that may be imposed upon or reasonably incurred by him or her in connection
with or resulting from any claim, action, suit or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action or failure to act under the Plan and against and from any and all amounts paid by him or her
in satisfaction of judgment in any such action, suit or proceeding against him or her, provided such loss, cost, liability or expense is not attributable to such person’s willful misconduct. Any person seeking indemnification under this

  
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provision shall give the Company prompt notice of any claim and shall give the Company an opportunity, at its own expense, to handle and defend the same before the person undertakes to handle and
defend such claim on his or her own behalf. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled, including under the Company’s Articles of Incorporation or
Bylaws, as a matter of law, or otherwise, or any power that the Company may have to indemnify them or hold them harmless. 
 (g) EXPENSES.
The expenses of administering the Plan shall be borne by the Company. 
 (h) TITLES AND HEADINGS. 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. 

(i) INTENT. It is the intent of this Plan that all payments hereunder be exempt from the requirements of Code Section 409A so that none of
the payments to be provided under this Plan will be subject to the adverse tax penalties imposed under Code Section 409A, and any ambiguities or ambiguous terms herein will be interpreted to be so exempt. The Company and each Participant will
work together in good faith to consider amendments to the Plan or revisions to the Plan with respect to the payment of any Awards under the Plan, which are necessary or appropriate to avoid imposition of any additional tax or income recognition
prior to the actual payment to the Participant under Code Section 409A. In no event will the Company be liable for or reimburse a Participant for any taxes or other penalties that may be imposed on the Participant as a result of Code
Section 409A. 
 (j) GOVERNING LAW. The validity, construction, and effect of the Plan, any rules and regulations relating to the Plan,
and any Award shall be determined in accordance with the laws of the State of California (without giving effect to principles of conflicts of laws thereof) and applicable federal law. 

(k) AMENDMENTS AND TERMINATION. The Committee may terminate the Plan at any time, provided such termination shall not affect the payment of any
Awards accrued under the Plan prior to the date of the termination. The Committee may, at any time, or from time to time, amend or suspend and, if suspended, reinstate, the Plan in whole or in part; provided, however, that any
amendment of the Plan shall be subject to the approval of the Company’s shareholders to the extent required to comply with applicable laws, regulations or rules. 

  
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