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Exhibit 10.5
EXECUTION COPY

THIRD AMENDMENT TO THE
ROBINHOOD MARKETS, INC.
2020 EQUITY INCENTIVE PLAN
WHEREAS, Robinhood Markets, Inc., a Delaware company (the “Company”), currently maintains and sponsors the Robinhood Markets, Inc. 2020 Equity Incentive Plan, as amended from time to time (the “Plan”); 
WHEREAS, Section 13.3 of the Plan provides that the Board of the Directors of the Company (the “Board”) may amend the Plan from time to time, except that stockholder approval shall be required for any amendment that would increase the maximum number of shares of common stock, par value $0.0001 per share, of the Company (the “Common Stock”) for which awards may be granted under the Plan; 
WHEREAS, the Board has determined it to be in its best interests to amend the Plan as set forth herein; and
NOW, THEREFORE, effective upon approval by the stockholders of the Company, including the holders of a majority of the then outstanding shares of preferred stock, par value $0.0001 per share, of the Company (voting together as a single class and not as separate series, and on as-converted basis), the Plan shall be amended as follows:
1.Section 2.1 of the Plan shall be, and hereby is, amended to increase the aggregate number of shares of Common Stock for which awards may be granted under the Plan by 35,520,000 and increase the number of shares of Common Stock for which incentive stock options may be granted under the Plan by 71,040,000.  Therefore, Section 2.1 is hereby amended and restated in its entirety as follows: 
“2.1    Number of Shares Available. Subject to Sections 2.2 and 11 hereof, the total number of Shares reserved and available for grant and issuance pursuant to this Plan will be 79,540,008 Shares, plus the sum of (a) any authorized shares not issued or subject to outstanding grants under the Company’s Amended and Restated 2013 Stock Plan (the “Prior Plan”) on the Effective Date (as defined in Section 13.1 hereof); (b) shares that are subject to issuance under the Prior Plan but cease to be subject to an award for any reason other than exercise of an option after the Effective Date; and (c) shares that were issued under the Prior Plan which are repurchased by the Company or which are forfeited or used to pay withholding obligations or pay the exercise price of an option. Subject to Sections 2.2 and 11 hereof, (A) in the event that Shares previously issued under the Plan are reacquired by the Company pursuant to a forfeiture provision, right of first refusal, or repurchase by the Company, such Shares shall be added to the number of Shares then available for issuance under the Plan; (B) in the event that Shares that otherwise would have been issuable under the Plan are withheld by the Company in payment of the Purchase Price, Exercise Price or withholding obligations, such Shares shall remain available for issuance under the Plan; and (C) in the event that an outstanding Option, Restricted Stock Unit or SAR for any reason expires or is cancelled, forfeited or terminated, the Shares allocable to the unexercised or unsettled portion of such Option, Restricted Stock Unit or SAR, as applicable, shall remain available for issuance under the Plan. To the extent an Award is settled in cash, the cash settlement shall not reduce the 

number of Shares remaining available for issuance under the Plan. At all times the Company will reserve and keep available a sufficient number of Shares as will be required to satisfy the requirements of all Awards granted and outstanding under this Plan. In no event shall the total number of Shares issued (counting each reissuance of a Share that was previously issued and then reacquired by the Company pursuant to a forfeiture provision, right of first refusal, or repurchase by the Company as a separate issuance) under the Plan upon exercise of ISOs (as defined in Section 4 hereof) exceed 419,618,328 Shares (adjusted in proportion to any adjustments under Section 2.2 hereof) over the term of the Plan.”.
2.Except as modified by this Amendment, all of the terms and conditions of the Plan shall remain valid and in full force and effect.
IN WITNESS WHEREOF, the Company has executed this Third Amendment to Robinhood Markets, Inc. 2020 Equity Incentive Plan as of May 26, 2021.
			
	ROBINHOOD MARKETS, INC
	
	By: /s/ Jason Warnick
	Name: Jason Warnick
	Title Chief Financial OfficerDocument

Exhibit 10.8

May 14, 2021
Paula Loop
33 Father Peter’s Lane
New Canaan, CT 06840
Dear Paula:
On behalf of Robinhood Markets, Inc. (“Robinhood” or the “Company”), I am pleased to invite you to become a member of the Company’s Board of Directors (the “Board”), effective on June 17 or a later date to be mutually agreed between you and the Company. We anticipate that you will initially serve as Chair of the Audit Committee and that you may also be appointed as a member of other Board committees, when the Board committees are established.
As a member of the Board prior to the initial public offering of the Company (our “IPO”), we will recommend to the Board that you be granted an award of restricted stock units for Robinhood’s Common Stock (“RSUs”) with a target value of $1,500,000 (which converts to 36,223 RSUs based on the Company’s most recent 409A valuation of $41.41 per share). Vesting of the RSUs requires satisfaction of two vesting conditions: a time-based vesting condition and a liquidity-based condition. You will vest in the RSUs over four years, with 6.25% of the RSUs vesting on the 1st quarterly anniversary of the first of the month following your Start Date, and then 6.25% of the RSUs vesting on the 1st of the month of each quarterly anniversary thereafter, until the grant is fully vested, subject to you continuing as a member of the Board through each respective vesting date. Earned RSUs vest and become stock owned by you only after the Company shares are generally liquid, meaning after the Company has been acquired or in connection with an initial public offering. The RSUs will be subject to the terms and conditions of the Equity Incentive Plan then in effect and an RSU award agreement between you and the Company, which shall provide for full acceleration of vesting of the RSUs in the event of a change in control of the Company. The grant of such RSUs is subject to the Board’s approval and this promise to recommend such approval is not a promise of compensation and is not intended to create any obligation on the part of Robinhood. Further details on any specific RSU grant to you will be provided upon approval of such grant by the Board.
As a member of the Board after our IPO, you will receive compensation in accordance with the attached compensation program, subject to modifications approved by the Board or Compensation Committee from time to time.
Our expectation is that the Board will meet at least quarterly. The various Committees of the Board to which you may be appointed will meet also regularly on schedules to be determined. It is our expectation that you will participate in those meetings in person to the extent possible (subject, of course, to the safety of doing so in light of the current COVID-19 pandemic). We also ask that you make yourself available to participate in various telephonic meetings from time to time as needed.

You will be promptly reimbursed for all reasonable out-of-pocket expenses incurred in connection with your service to the Company, in accordance with the Company’s expense reimbursement policy. In addition, you will be covered by the Company’s D&O insurance to the same extent provided to the Company’s other non-employee directors generally and the indemnification and exculpation provisions of the Company’s Certificate of Incorporation and Bylaws. The Company will also enter into a customary indemnification agreement with you.
Your service on the Board will be in accordance with, and subject to, the Company’s Certificate of Incorporation, Bylaws, and other policies applicable to non-employee directors, as the same may be amended from time to time. In accepting this offer, you are representing to us that you do not know of any conflict that would restrict you from becoming a director of the Company. As you will no doubt appreciate, matters relating to our IPO are of a very sensitive nature. We therefore ask that you keep confidential all information regarding the Company (including, for now, your membership on the Board). In connection with our IPO, you are also being asked to consent below to being named as a director in the Company’s Registration Statement on Form S-1 and will be expected to sign that registration statement as a director.
In addition, we ask that you notify us prior to taking on any new role at another company so that we may evaluate any actual or potential conflict.
To accept this offer, please sign below and return the fully executed letter to us. You should keep one copy of this letter for your records. This letter sets forth the terms of your service with the Company and supersedes any prior representations or agreements, whether written or oral. This letter may not be modified or amended except by a written agreement, signed by a duly authorized representative of the Company and by you.
We are very excited about the future for Robinhood and greatly appreciate your joining us on this adventure. I know I speak for everyone at Robinhood when I say that we look forward to working with you.
			
	Sincerely,
	
	Robinhood Markets, Inc.
	
	/s/ Vladimir Tenev
	Vladimir Tenev
	Chief Executive Officer and Chairman of the Board 

ACCEPTED AND AGREED:
I hereby accept and consent to be designated as a director of Robinhood Markets, Inc., including in the Company’s upcoming Registration Statement on Form S-1 for its initial public offering, and agree to serve in such capacity.
									
	May 16, 2021		/s/ Paula Loop
	Date		Signature
			
			
			Paula Loop
			Print NameDocument

Exhibit 10.9

May 14, 2021
Jonathan J. Rubinstein 
10380 Eton Way 
Vero Beach, FL 32963 
Dear Jon:
On behalf of Robinhood Markets, Inc. (“Robinhood” or the “Company”), I am pleased to invite you to become a member of the Company’s Board of Directors (the “Board”), effective on a date to be mutually agreed between you and the Company. We anticipate that you will initially serve as Lead Independent Director and that you may also initially be appointed as a member of one or more Board committees, or as the Chair of a Board committee, when the Board committees are established. We currently expect that I will continue to serve as Chairman of the Board, and there will be no non-executive Chair appointed.
As a member of the Board prior to the initial public offering of the Company (our “IPO”), we will recommend to the Board that you be granted an award of restricted stock units for Robinhood’s Common Stock (“RSUs”) with a target value of $3,000,000 (which converts to 72,446 RSUs based on the Company’s most recent 409A valuation of $41.41 per share). Vesting of the RSUs requires satisfaction of two vesting conditions: a time-based vesting condition and a liquidity-based condition. You will vest in the RSUs over four years, with 6.25% of the RSUs vesting on the 1st quarterly anniversary of the first of the month following your Start Date, and then 6.25% of the RSUs vesting on the 1st of the month of each quarterly anniversary thereafter, until the grant is fully vested, subject to you continuing as a member of the Board through each respective vesting date. Earned RSUs vest and become stock owned by you only after the Company shares are generally liquid, meaning after the Company has been acquired or in connection with an initial public offering. The RSUs will be subject to the terms and conditions of the Equity Incentive Plan then in effect and an RSU award agreement between you and the Company, which shall provide for full acceleration of vesting of the RSUs in the event of a change in control of the Company. The grant of such RSUs is subject to the Board’s approval and this promise to recommend such approval is not a promise of compensation and is not intended to create any obligation on the part of Robinhood. Further details on any specific RSU grant to you will be provided upon approval of such grant by the Board.
As a member of the Board after our IPO, you will receive compensation in accordance with the attached compensation program, subject to modifications approved by the Board or Compensation Committee from time to time.
In addition, you will have the right, in your discretion, to participate in the Company’s next equity financing round in an amount of up to $2,000,000 on the same terms, conditions and pricing afforded to others participating in any such financing.
Our expectation is that the Board will meet at least quarterly. The various Committees of the Board to which you may be appointed will meet also regularly on schedules to be determined. It is our expectation that you will participate in those meetings in person to the extent possible 

(subject, of course, to the safety of doing so in light of the current COVID-19 pandemic). We also ask that you make yourself available to participate in various telephonic meetings from time to time as needed.
You will be promptly reimbursed for all reasonable out-of-pocket expenses incurred in connection with your service to the Company, in accordance with the Company’s expense reimbursement policy. In addition, you will be covered by the Company’s D&O insurance to the same extent provided to the Company’s other non-employee directors generally and the indemnification and exculpation provisions of the Company’s Certificate of Incorporation and Bylaws.
Your service on the Board will be in accordance with, and subject to, the Company’s Certificate of Incorporation, Bylaws, and other policies applicable to non-employee directors, as the same may be amended from time to time. In accepting this offer, you are representing to us that you do not know of any conflict that would restrict you from becoming a director of the Company. As you will no doubt appreciate, matters relating to our IPO are of a very sensitive nature. We therefore ask that you keep confidential all information regarding the Company (including, for now, your membership on the Board). In connection with our IPO, you are also being asked to consent below to being named as a director in the Company’s Registration Statement on Form S-1 and will be expected to sign that registration statement as a director.
In addition, we ask that you notify us prior to taking on any new role at another company so that we may evaluate any actual or potential conflict.
To accept this offer, please sign below and return the fully executed letter to us. You should keep one copy of this letter for your records. This letter sets forth the terms of your service with the Company and supersedes any prior representations or agreements, whether written or oral. This letter may not be modified or amended except by a written agreement, signed by a duly authorized representative of the Company and by you.
We are very excited about the future for Robinhood and greatly appreciate your joining us on this adventure. I know I speak for everyone at Robinhood when I say that we look forward to working with you.
			
	Sincerely,
	
	Robinhood Markets, Inc.
	
	/s/ Vladimir Tenev
	Vladimir Tenev
	Chief Executive Officer and Chairman of the Board 

ACCEPTED AND AGREED:
I hereby accept and consent to be designated as a director of Robinhood Markets, Inc., including in the Company’s upcoming Registration Statement on Form S-1 for its initial public offering, and agree to serve in such capacity.
									
	May 15, 2021		/s/ Jon Rubinstein
	Date		Signature
			
			
			Jon Rubinstein
			Print Name

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