Document:

Exhibit 10.11

 

Enovix Corporation

Global Stock Option Grant Notice

(2021 Equity Incentive Plan)

 

Enovix Corporation (the “Company”),
pursuant to its 2021 Equity Incentive Plan (the “Plan”), has granted to you (“Optionholder”)
an option to purchase the number of shares of the Common Stock set forth below (the “Option”). Your Option is
subject to all of the terms and conditions as set forth herein and in the Plan and the Global Stock Option Agreement, including any additional
terms and conditions for your country set forth in the appendix thereto (the “Appendix and, together with the Global
Stock Option Agreement, the “Agreement”), all of which are attached hereto and incorporated herein in their
entirety. Capitalized terms not explicitly defined herein but defined in the Plan or the Agreement shall have the meanings set forth in
the Plan or the Agreement, as applicable.

 

	Optionholder:	 
	Date of Grant:	 
	Vesting Commencement Date:	 
	Number of Shares of Common Stock Subject to Option:	 
	Exercise Price (Per Share):	 
	Total Exercise Price:	 
	Expiration Date:	 

 

	Type of Grant:	[Incentive Stock Option] OR [Nonstatutory
Stock Option]

 

	Exercise and 

Vesting Schedule:	Subject
                                            to the Optionholder’s Continuous Service through each applicable vesting date, the
                                            Option will vest as follows:

 

	 	[__________]

 

Optionholder Acknowledgements: By your
signature below or by electronic acceptance or authentication in a form authorized by the Company, you understand and agree that:

 

		·	The Option is governed by this Global Stock Option Grant Notice, (the “Grant
Notice”) and the provisions of the Plan and the Agreement, all of which are made a part of this document. Unless otherwise
provided in the Plan, this Grant Notice and the Agreement (together, the “Option Agreement”) may not be modified,
amended or revised except in a writing signed by you and a duly authorized officer of the Company.

 

		·	If the Option is an Incentive Stock Option, it (plus other outstanding Incentive
Stock Options granted to you) cannot be first exercisable for more than $100,000 in value (measured by exercise price) in any calendar
year. Any excess over $100,000 is a Nonstatutory Stock Option.

 

		·	You consent to receive this Grant Notice, the Agreement, the Plan, the Prospectus
and any other Plan-related documents by electronic delivery and to participate in the Plan through an on-line or electronic system established
and maintained by the Company or another third party designated by the Company.

 

    1 . 

     

    

 

		·	You have read and are familiar with the provisions of the Plan, the Agreement,
and the Prospectus. In the event of any conflict between the provisions in this Grant Notice, the Agreement, or the Prospectus and the
terms of the Plan, the terms of the Plan shall control.

 

		·	The Option Agreement sets forth the entire understanding between you and
the Company regarding the acquisition of Common Stock and supersedes all prior oral and written agreements, promises and/or representations
on that subject with the exception of other equity awards previously granted to you and any written employment agreement, offer letter,
severance agreement, written severance plan or policy, or other written agreement between the Company and you in each case that specifies
the terms that should govern this Option.

 

		·	Counterparts may be delivered via facsimile, electronic mail (including pdf
or any electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable
law) or other transmission method and any counterpart so delivered will be deemed to have been duly and validly delivered and be valid
and effective for all purposes.

 

	Enovix Corporation	 	Optionholder:

	 	 	 
	By:	 	 	 
	Signature	 	Signature
	 	 	 
	Title:	 	 	Date:	 
	 	 	 	 	 
	Date:	 	 	 

 

    

     

    

 

Enovix
Corporation

2021 Equity Incentive Plan

Global Stock Option Agreement

 

As reflected by your Global
Stock Option Grant Notice (“Grant Notice”) Enovix Corporation (the “Company”) has
granted you an option under its 2021 Equity Incentive Plan (the “Plan”) to purchase a number of shares of Common
Stock at the exercise price indicated in your Grant Notice (the “Option”). The terms of your Option as specified
in the Grant Notice and this Global Stock Option Agreement, including any additional terms and conditions for your country set forth in
the appendix hereto (the “Appendix” and, together with the Global Stock Option Agreement, the “Agreement”),
constitute your Option Agreement. Capitalized terms not explicitly defined in this Agreement but defined in the Grant Notice or the Plan
shall have the meanings set forth in the Grant Notice or Plan, as applicable.

 

The general terms and conditions
applicable to your Option are as follows:

 

1.                  Governing
Plan Document. Your Option is subject to all the provisions of the Plan. Your Option is further subject to all interpretations,
amendments, rules and regulations, which may from time to time be promulgated and adopted pursuant to the Plan. In the event of any conflict
between the Option Agreement and the provisions of the Plan, the provisions of the Plan shall control.

 

2.                  
Exercise.

 

(a)               
You may generally exercise the vested portion of your Option for whole shares of Common Stock at any time during its term by
delivery of payment of the exercise price and applicable withholding taxes and other required documentation to the Plan Administrator
in accordance with the exercise procedures established by the Plan Administrator, which may include an electronic submission. Please review
the Plan, which may restrict or prohibit your ability to exercise your Option during certain periods.

 

(b)              
To the extent permitted by Applicable Law, you may pay your Option exercise price as follows:

 

(i)              cash,
check, bank draft or money order;

 

(ii)             subject
to Applicable Law and Company and/or Committee consent at the time of exercise, pursuant to a “cashless exercise” program
as further described in the Plan if at the time of exercise the Common Stock is publicly traded;

 

(iii)           subject
to Company and/or Committee consent at the time of exercise, by delivery of previously owned shares of Common Stock as further described
in the Plan; or

 

(iv)            subject
to Applicable Law and Company and/or Committee consent at the time of exercise, if the Option is a Nonstatutory Stock Option, by a “net
exercise” arrangement as further described in the Plan.

 

    1.

     

    

 

3.                  
Term. You may not exercise your Option before the commencement of its term or
after its term expires. The term of your option commences on the Date of Grant and expires upon the earliest of the following:

 

(a)              immediately upon the termination of your Continuous Service for Cause;

 

(b)              three
months after the termination of your Continuous Service for any reason other than Cause, Disability or death;

 

(c)              12
months after the termination of your Continuous Service due to your Disability;

 

(d)              18
months after your death if you die during your Continuous Service;

 

(e)              immediately
upon a Corporate Transaction if the Board has determined that the Option will terminate in connection with a Corporate Transaction,

 

(f)               the Expiration Date indicated in your Grant Notice; or

 

(g)             the day before the 10th anniversary of the Date of Grant.

 

Notwithstanding the foregoing,
if you die during the period provided in Section 3(b) or 3(c) above, the term of your Option shall not expire until the earlier of (i)
eighteen months after your death, (ii) upon any termination of the Option in connection with a Corporate Transaction, (iii) the Expiration
Date indicated in your Grant Notice, or (iv) the day before the tenth anniversary of the Date of Grant. Additionally, the Post-Termination
Exercise Period of your Option may be extended as provided in the Plan.

 

To obtain the federal income
tax advantages associated with an Incentive Stock Option, the Code requires that at all times beginning on the date of grant of your Option
and ending on the day three months before the date of your Option’s exercise, you must be an employee of the Company or an Affiliate,
except in the event of your death or Disability. If the Company provides for the extended exercisability of your Option under certain
circumstances for your benefit, your Option will not necessarily be treated as an Incentive Stock Option if you exercise your Option more
than three months after the date your employment terminates.

 

4.                  
Responsibility for Taxes. 

 

(a)               
Regardless of any action taken by the Company or, if different, the Affiliate to which you provide Continuous Service (the
 “Service Recipient”) with respect to any income tax, social insurance, payroll tax, fringe benefits tax, payment
on account, or other tax-related items associated with the grant, vesting or exercise of the Option or sale of the underlying Common
Stock or other tax-related items related to your participation in the Plan and legally applicable or deemed applicable to you (the “Tax
Liability”), you hereby acknowledge and agree that the Tax Liability is your ultimate responsibility and may exceed the
amount, if any, actually withheld by the Company or the Service Recipient. You further acknowledge that the Company and the Service Recipient
(i) make no representations or undertakings regarding any Tax Liability in connection with any aspect of this Option, including, but not
limited to, the grant, vesting or exercise of the Option, the issuance of Common Stock pursuant to such exercise, the subsequent sale
of shares of Common Stock, and the payment of any dividends on the shares; and (ii) do not commit to and are under no obligation to structure
the terms of the grant or any aspect of the Option to reduce or eliminate your Tax Liability or achieve a particular tax result. Further,
if you are subject to Tax Liability in more than one jurisdiction, you acknowledge that the Company and/or the Service Recipient (or former
service recipient, as applicable) may be required to withhold or account for Tax Liability in more than one jurisdiction.

 

    2.

     

    

 

(b)              
 Prior to any relevant taxable or tax withholding event, as applicable, you agree to make adequate arrangements satisfactory
to the Company and/or the Service Recipient to satisfy all Tax Liability. As further provided in Section 8 of the Plan, you hereby authorize
the Company and any applicable Service Recipient to satisfy any applicable withholding obligations with regard to the Tax Liability by
one or a combination of the following methods: (i) causing you to pay any portion of the Tax Liability in cash or cash equivalent in a
form acceptable to the Company and/or the Service Recipient; (ii) withholding from any compensation otherwise payable to you by the Company
or the Service Recipient; (iii) withholding from the proceeds of the sale of shares of Common Stock issued upon exercise of the Option
(including by means of a “cashless exercise” pursuant to a program developed under Regulation T as promulgated by the Federal
Reserve Board to the extent permitted by the Company, or by means of the Company acting as your agent to sell sufficient shares of Common
Stock for the proceeds to satisfy such withholding requirements, on your behalf pursuant to this authorization without further consent);
(iv) withholding shares of Common Stock otherwise issuable to you upon the exercise of the Option, provided, however, that to the extent
necessary to qualify for an exemption from application of Section 16(b) of the Exchange Act, if applicable, such share withholding procedure
will be subject to the express prior approval of the Board or the Company’s Compensation Committee; and/or (v) any other method
determined by the Company to be in compliance with Applicable Law. Furthermore, you agree to pay or reimburse the Company or the Service
Recipient any amount the Company or the Service Recipient may be required to withhold, collect or pay as a result of your participation
in the Plan or that cannot be satisfied by the means previously described. In the event it is determined that the amount of the Tax Liability
was greater than the amount withheld by the Company and/or the Service Recipient (as applicable), you agree to indemnify and hold the
Company and/or the Service Recipient (as applicable) harmless from any failure by the Company or the applicable Service Recipient to withhold
the proper amount.

 

(c)               
The Company and/or the Service Recipient may withhold or account for your Tax Liability by considering statutory withholding
amounts or other withholding rates applicable in your jurisdiction(s), including (i) maximum applicable rates in your jurisdiction(s).
In the event of over-withholding, you may receive a refund of any over-withheld amount in cash from the Company or the Service Recipient
(with no entitlement to the Common Stock equivalent), or if not refunded, you may seek a refund from the local tax authorities. In the
event of under-withholding, you may be required to pay any Tax Liability directly to the applicable tax authority or to the Company and/or
the Service Recipient. If the Tax Liability withholding obligation is satisfied by withholding shares of Common Stock, for tax purposes,
you are deemed to have been issued the full number of shares of Common Stock subject to the exercised portion of the Option, notwithstanding
that a number of the shares of Common Stock is held back solely for the purpose of paying such Tax Liability.

 

(d)              
You acknowledge that you may not be able to exercise your Option even though the Option is vested, and that the Company shall
have no obligation to issue or deliver shares of Common Stock until you have fully satisfied any applicable Tax Liability, as determined
by the Company. Unless any withholding obligation for the Tax Liability is satisfied, the Company shall have no obligation to issue or
deliver to you any Common Stock in respect of the Option.

 

5.                  
Incentive Stock Option Disposition Requirement. If your option is an Incentive
Stock Option, you must notify the Company in writing within 15 days after the date of any disposition of any of the shares of the Common
Stock issued upon exercise of your option that occurs within two years after the date of your option grant or within one year after such
shares of Common Stock are transferred upon exercise of your option.

 

6.                  
Nature of Grant. In accepting the Option, you acknowledge, understand and agree
that:

 

    3.

     

    

 

(a)               
 the Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended
or terminated by the Company at any time, to the extent permitted by the Plan;

 

(b)              
the grant of the Option is exceptional, voluntary and occasional and does not create any contractual or other right to receive
future grants of Options, or benefits in lieu of Options, even if Options have been granted in the past;

 

(c)               
all decisions with respect to future Options or other grants, if any, will be at the sole discretion of the Company;

 

(d)              
the Option and your participation in the Plan shall not create a right to employment or other service relationship with the
Company;

 

(e)               
the Option and your participation in the Plan shall not be interpreted as forming or amending an employment or service contract
with the Company or the Service Recipient, and shall not interfere with the ability of the Company or the Service Recipient, as applicable,
to terminate your Continuous Service (if any);

 

(f)                
 you are voluntarily participating in the Plan;

 

(g)               
the Option and the shares of Common Stock subject to the Option, and the income from and value of same, are not intended to
replace any pension rights or compensation;

 

(h)              
the Option and the shares of Common Stock subject to the Option, and the income from and value of same, are not part of normal
or expected compensation for purposes of, including but not limited to, calculating any severance, resignation, termination, redundancy,
dismissal, end-of-service payments, bonuses, holiday pay, long-service awards, pension or retirement or welfare benefits or similar payments;

 

(i)                
unless otherwise agreed with the Company in writing, the Option and the shares of Common Stock subject to the Option, and the
income from and value of same, are not granted as consideration for, or in connection with, the service you may provide as a director
of an Affiliate;

 

(j)                
the future value of the underlying shares of Common Stock is unknown, indeterminable and cannot be predicted with certainty;

 

(k)              
if the underlying shares of Common Stock do not increase in value after the grant date, the Option will have no value;

 

(l)                
if you exercise the Option and acquire shares of Common Stock, the value of such shares of Common Stock may increase or decrease
in value, even below the exercise price;

 

(m)            
no claim or entitlement to compensation or damages shall arise from forfeiture of the Option resulting from the termination
of your Continuous Service (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the
jurisdiction where you are providing service or the terms of your employment or other service agreement, if any);

 

    4.

     

    

 

(n)               for
purposes of the Option, your Continuous Service will be considered terminated as of the date you are no longer actively providing
services to the Company or any Affiliate (regardless of the reason for such termination and whether or not later found to be invalid
or in breach of employment laws in the jurisdiction where you are providing service or the terms of your employment or other service
agreement, if any), and such date will not be extended by any notice period (e.g., your period of Continuous Service would
not include any contractual notice period or any period of “garden leave” or similar period mandated under employment
laws in the jurisdiction where you are providing service or the terms of your employment or other service agreement, if any); the
Compensation Committee shall have the exclusive discretion to determine when you are no longer actively providing services for
purposes of your Option (including whether you may still be considered to be providing services while on a leave of absence);
and

 

(o)               
neither the Company nor the Service Recipient shall be liable for any foreign exchange rate fluctuation between your local
currency and the United States Dollar that may affect the value of the Option or of any amounts due to you pursuant to exercise of the
Option or the subsequent sale of any shares of Common Stock acquired upon exercise.

 

7.                  
Transferability. Except as otherwise provided in the Plan, your Option is not
transferable, except by will or by the applicable laws of descent and distribution, and is exercisable during your life only by you.

 

8.                  
Corporate Transaction. Your Option is subject to the terms of any agreement governing
a Corporate Transaction involving the Company, including, without limitation, a provision for the appointment of a stockholder representative
that is authorized to act on your behalf with respect to any escrow, indemnities and any contingent consideration.

 

9.                  
No Liability for Taxes. As a condition to accepting the Option, you hereby (a)
agree to not make any claim against the Company, or any of its Officers, Directors, Employees or Affiliates related to any Tax Liability
arising from the Option and (b) acknowledge that you were advised to consult with your own personal tax, financial and other legal advisors
regarding the tax consequences of the Option and have either done so or knowingly and voluntarily declined to do so. Additionally, you
acknowledge that the Option is exempt from Section 409A only if the exercise price is at least equal to the “fair market value”
of the Common Stock on the date of grant as determined by the Internal Revenue Service and there is no other impermissible deferral of
compensation associated with the Option. Additionally, as a condition to accepting the Option, you agree not make any claim against the
Company, or any of its Officers, Directors, Employees or Affiliates in the event that the Internal Revenue Service asserts that such exercise
is less than the “fair market value” of the Common Stock on the date of grant as subsequently determined by the Internal Revenue
Service.

 

10.              
Obligations; Recoupment. You hereby acknowledge that the grant of your Option
is additional consideration for any obligations (whether during or after employment) that you have to the Company not to compete, not
to solicit its customers, clients or employees, not to disclose or misuse confidential information or similar obligations. Accordingly,
if the Company reasonably determines that you breached such obligations, in addition to any other available remedy, the Company may, to
the extent permitted by Applicable Law, recoup any income realized by you with respect to the exercise of your Option within two years
of such breach. In addition, to the extent permitted by Applicable Law, this right to recoupment by the Company applies in the event that
your employment is terminated for Cause or if the Company reasonably determines that circumstances existed that it could have terminated
your employment for Cause.

 

11.               No
Advice Regarding Grant. The Company is not providing any tax, legal or financial advice, nor is the Company making any
recommendations regarding your participation in the Plan, or your acquisition or sale of the underlying shares of Common Stock. You
should consult with your own personal tax, legal and financial advisors regarding your participation in the Plan before taking any
action related to the Plan.

 

    5.

     

    

 

12.              
Governing Law and Venue. The Option and the provisions of this Agreement are
governed by, and construed in accordance with, the internal laws of the State of Delaware, without regard to the conflict of law principles
that would result in any application of any law other than the law of the State of Delaware. For purposes of any action, lawsuit or other
proceedings brought to enforce this Agreement, relating to it, or arising from it, the parties hereby submit to and consent to the sole
and exclusive jurisdiction of the courts of the State of Delaware, and no other courts, where this grant is made and/or to be performed.

 

13.              
Severability. If any part of this Option Agreement or the Plan is declared by
any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity will not invalidate any portion of this
Option Agreement or the Plan not declared to be unlawful or invalid.  Any Section of this Option Agreement (or part of such
a Section) so declared to be unlawful or invalid will, if possible, be construed in a manner which will give effect to the terms of such
Section or part of a Section to the fullest extent possible while remaining lawful and valid.

 

14.              
Indebtedness to the company. In the event that you have any loans, draws, advances
or any other indebtedness owing to the Company at the time of exercise of all or a portion of the Option, the Company may deduct and not
deliver that number of shares of Common Stock with a Fair Market Value subject to the Option equal to such indebtedness to satisfy all
or a portion of such indebtedness, to the extent permitted by law and in a manner consistent with Section 409A of the Code, if applicable.

 

15.              
Compliance with Law.  Notwithstanding any other provision of the Plan
or this Agreement, unless there is an exemption from any registration, qualification or other legal requirement applicable to the shares
of Common Stock, the Company shall not be required to deliver any shares issuable upon exercise of the Option prior to the completion
of any registration or qualification of the shares under any local, state, federal or foreign securities or exchange control law
or under rulings or regulations of the U.S. Securities and Exchange Commission (“SEC”) or of any other governmental regulatory
body, or prior to obtaining any approval or other clearance from any local, state, federal or foreign governmental agency, which registration,
qualification or approval the Company shall, in its absolute discretion, deem necessary or advisable. You understand that the Company
is under no obligation to register or qualify the shares with the SEC or any state or foreign securities commission or to seek approval
or clearance from any governmental authority for the issuance or sale of the shares. Further, you agree that the Company shall have unilateral
authority to amend the Agreement without your consent to the extent necessary to comply with securities or other laws applicable to issuance
of shares of Common Stock.

 

16.              
Language. You acknowledge that you are proficient in the English language, or
have consulted with an advisor who is proficient in the English language, so as to enable you to understand the provisions of this Agreement
and the Plan. If you have received this Agreement or any other document related to the Plan translated into a language other than English
and if the meaning of the translated version is different than the English version, the English version will control.

 

17.              
Electronic Delivery and Participation. The Company may, in its sole discretion,
decide to deliver any documents related to current or future participation in the Plan by electronic means. You hereby consent to receive
such documents by electronic delivery and agree to participate in the Plan through an online or electronic system established and maintained
by the Company or a third party designated by the Company.

 

    6.

     

    

 

18.              
 Severability. The provisions of this Agreement are severable and if any one
or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless
be binding and enforceable.

 

19.              
Appendix. Notwithstanding any provisions in this Option Agreement, the Option
shall be subject to any additional terms and conditions set forth in any Appendix for your country. Moreover, if you relocate to one of
the countries included in the Appendix, the additional terms and conditions for such country will apply to you, to the extent the Company
determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Appendix
constitutes part of this Agreement.

 

20.              
Imposition of Other Requirement. The Company reserves the right to impose other
requirements on your participation in the Plan, on the Option 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 you to sign any additional agreements
or undertakings that may be necessary to accomplish the foregoing.

 

21.              
Waiver.  You acknowledge that a waiver by the Company of breach of any provision
of this Agreement shall not operate or be construed as a waiver of any other provision of this Agreement, or of any subsequent breach
by you or any other participant.

 

22.              
Insider Trading/Market Abuse. You acknowledge that, depending on your or your
broker’s country or where the Company shares are listed, you may be subject to insider trading restrictions and/or market abuse
laws which may affect your ability to accept, acquire, sell or otherwise dispose of shares of Common Stock, rights to shares (e.g.,
Options) or rights linked to the value of shares (e.g., phantom awards, futures) during such times you are considered to have “inside
information” regarding the Company as defined in the laws or regulations in the applicable jurisdictions). Local insider trading
laws and regulations may prohibit the cancellation or amendment of orders you placed before you possessed inside information. Furthermore,
you could be prohibited from (i) disclosing the inside information to any third party (other than on a “need to know” basis)
and (ii) “tipping” third parties or causing them otherwise to buy or sell securities. Keep in mind third parties includes
fellow employees. Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed
under any applicable insider trading policy of the Company. You are responsible for complying with any restrictions and should speak to
your personal advisor on this matter.

 

23.              
Exchange Control, Foreign Asset/Account and/or Tax Reporting. Depending upon
the country to which laws you are subject, you may have certain foreign asset/account and/or tax reporting requirements that may affect
your ability to acquire or hold shares of Common Stock under the Plan or cash received from participating in the Plan (including from
any dividends or sale proceeds arising from the sale of shares of Common Stock) in a brokerage or bank account outside your country of
residence. Your country may require that you report such accounts, assets or transactions to the applicable authorities in your country.
You also may be required to repatriate cash received from participating in the Plan to your country within a certain period of time after
receipt. You are responsible for knowledge of and compliance with any such regulations and should speak with your personal tax, legal
and financial advisors regarding same.

 

24.              
Other Documents.  You hereby acknowledge receipt of or the right to
receive a document providing the information required by Rule 428(b)(1) promulgated under the Securities Act, which includes the Prospectus.  In
addition, you acknowledge receipt of the Company’s Trading Policy.

 

    7.

     

    

 

25.              
 Questions.  If you have questions regarding these or any other terms and conditions
applicable to your Option, including a summary of the applicable federal income tax consequences please see the Prospectus.

 

* * * *

 

    8.

     

    

 

Enovix
Corporation

2021
Equity Incentive Plan

 

Appendix

to Global Stock Option Agreement

 

Terms
and Conditions

 

This Appendix forms part of the Agreement and
includes additional terms and conditions that govern the Option granted to you under the Plan if you reside and/or work in one of the
jurisdictions listed below. Capitalized terms used but not defined in this Appendix have the meanings set forth in the Plan and/or in
the Global Stock Option Agreement.

 

If you are a citizen or resident (or are considered
as such for local law purposes) of a country other than the country in which you are currently residing and/or working, or if you relocate
to another country after the grant of the Option, the Company shall, in its discretion, determine to what extent the additional terms
and conditions contained herein shall be applicable to you.

 

Notifications

 

This Appendix may also include information regarding
exchange controls and certain other issues of which you should be aware with respect to participation in the Plan. The information is
based on the securities, exchange control, and other laws in effect in the respective countries as of January 2021. Such laws are often
complex and change frequently. As a result, you should not rely on the information in this Appendix as the only source of information
relating to the consequences of your participation in the Plan because the information may be out of date at the time you vest in or exercise
the Option, acquire shares of Common Stock, or sell shares of Common Stock acquired under the Plan.

 

In addition, the information contained below is
general in nature and may not apply to your particular situation. You should seek appropriate professional advice as to how the relevant
laws in your country may apply to your situation.

 

If you are a citizen or resident (or are considered
as such for local law purposes) of a country other than the country in which you are currently residing and/or working, or if you relocate
to another country after the grant of the Option, the notifications herein may not apply to you in the same manner.

 

    9.Exhibit 10.12

 

Enovix
Corporation

Global RSU Award Grant Notice

(2021 Equity Incentive Plan)

 

Enovix Corporation
(the “Company”) has awarded to you (the “Participant”) the number of restricted stock
units specified and on the terms set forth below (the “RSU Award”). Your RSU Award is subject to all of the
terms and conditions as set forth herein and in the Company’s 2021 Equity Incentive Plan (the “Plan”)
and the Global RSU Award Agreement, including any additional terms and conditions for your country set forth in the appendix thereto
(the “Appendix” and, together with the Global RSU Award Agreement, the “Agreement”),
all of which are incorporated herein in their entirety. Capitalized terms not explicitly defined herein but defined in the Plan or the
Agreement shall have the meanings set forth in the Plan or the Agreement, as applicable.

 

	Participant:	 	 
	Date of Grant:	 	 
	Vesting Commencement Date:	 	 
	Number of Restricted Stock Units:	 	 

 

	Vesting Schedule:
  	[_______________________________________________________________________________________________________].

                                                                                Notwithstanding
                                            the foregoing, except as set forth below, vesting shall terminate upon the Participant’s
                                            termination of Continuous Service, as described in Section 6(l) of the Agreement.

 

	Issuance Schedule:	One share of Common Stock will be issued for each restricted stock unit
  which vests at the time set forth in Section 5 of the Agreement.

 

Participant
Acknowledgements: By your signature below or by electronic acceptance or authentication in a form authorized by the Company, you
understand and agree that:

 

	·	The RSU Award is governed by this Global
    RSU Award Grant Notice (the “Grant Notice”), and the provisions of the Plan and the Agreement, all of which
    are made a part of this document.  Unless otherwise provided in the Plan, this Grant Notice and the Agreement (together,
    the “RSU Award Agreement”) may not be modified, amended or revised except in a writing signed by you and
    a duly authorized officer of the Company.  
	 	 
	·	You have read and are familiar with the provisions
    of the Plan, the RSU Award Agreement and the Prospectus.  In the event of any conflict between the provisions in the RSU
    Award Agreement, or the Prospectus and the terms of the Plan, the terms of the Plan shall control.  
	 	 
	·	The RSU Award Agreement sets forth the entire understanding
    between you and the Company regarding the acquisition of Common Stock and supersedes all prior oral and written agreements, promises
    and/or representations on that subject with the exception of: (i) other equity awards previously granted to you, and (ii) any written
    employment agreement, offer letter, severance agreement, written severance plan or policy, or other written agreement between the
    Company and you in each case that specifies the terms that should govern this RSU Award.

 

     

     

    

 

	Enovix Corporation 	 	Participant:
	 	 	 
	By: 	 	 	 
	 	Signature	 	Signature
	 	 	 	 
	Title: 	 	 	Date: 	 
	 	 	 	 	 
	Date:	 	 	 	 

 

     

     

    

 

Enovix
Corporation

2021
Equity Incentive Plan

 

Global
RSU Award Agreement

 

As
reflected by your Global RSU Award Grant Notice (“Grant Notice”), Enovix Corporation (the “Company”)
has granted you a RSU Award under its 2021 Equity Incentive Plan (the “Plan”) for the number of restricted
stock units as indicated in your Grant Notice (the “RSU Award”). The terms of your RSU Award as specified in
this Global RSU Award Agreement for your RSU Award, including any additional terms and conditions for your country set forth in the appendix
hereto (the “Appendix” and, together with the Global RSU Award Agreement, the “Agreement”)
and the Grant Notice constitute your “RSU Award Agreement”. Defined terms not explicitly defined in this Agreement
but defined in the Grant Notice or the Plan shall have the same definitions as in the Grant Notice or Plan, as applicable.

 

The
general terms applicable to your RSU Award are as follows:

 

1.                  
Governing Plan Document. Your RSU Award is subject to all the provisions of
the Plan. Your RSU Award is further subject to all interpretations, amendments, rules and regulations, which may from time to time be
promulgated and adopted pursuant to the Plan. In the event of any conflict between the RSU Award Agreement and the provisions of the
Plan, the provisions of the Plan shall control.

 

2.                  
Grant of the RSU Award. This RSU Award represents your right to be issued on
a future date the number of shares of the Company’s Common Stock that is equal to the number of restricted stock units indicated
in the Grant Notice subject to your satisfaction of the vesting conditions set forth therein (the “Restricted Stock Units”).
Any additional Restricted Stock Units that become subject to the RSU Award pursuant to Capitalization Adjustments as set forth in the
Plan and the provisions of Section 3 below, if any, shall be subject, in a manner determined by the Board, to the same forfeiture restrictions,
restrictions on transferability, and time and manner of delivery as applicable to the other Restricted Stock Units covered by your RSU
Award.

 

3.                  
Dividends. You shall receive no benefit or adjustment to your RSU Award with
respect to any cash dividend, stock dividend or other distribution that does not result from a Capitalization Adjustment as provided
in the Plan; provided, however, that this sentence shall not apply with respect to any shares of Common Stock that are delivered to you
in connection with your RSU Award after such shares have been delivered to you.

 

4.                  
Responsibility for Taxes.

 

(a)                Regardless
of any action taken by the Company or, if different, the Affiliate to which you provide Continuous Service (the “Service
Recipient”) with respect to any income tax, social insurance, payroll tax, fringe benefits tax, payment on account or
other tax-related items associated with the grant or vesting of the RSU Award or sale of the underlying Common Stock or other
tax-related items related to your participation in the Plan and legally applicable or deemed applicable to you (the “Tax
Liability”), you hereby acknowledge and agree that the Tax Liability is your ultimate responsibility and may exceed
the amount, if any, actually withheld by the Company or the Service Recipient. You further acknowledge that the Company and the
Service Recipient (i) make no representations or undertakings regarding any Tax Liability in connection with any aspect of this RSU
Award, including, but not limited to, the grant or vesting of the RSU Award, the issuance of Common Stock pursuant to such vesting,
the subsequent sale of shares of Common Stock, and the payment of any dividends on the shares; and (ii) do not commit to and
are under no obligation to structure the terms of the grant or any aspect of the RSU Award to reduce or eliminate your Tax Liability
or achieve a particular tax result. Further, if you are subject to Tax Liability in more than one jurisdiction, you acknowledge that
the Company and/or the Service Recipient (or former service recipient, as applicable) may be required to withhold or account for Tax
Liability in more than one jurisdiction.

 

    1 .

     

    

 

(b)              
Prior to any relevant taxable or tax withholding event, as applicable, you agree to make adequate arrangements satisfactory
to the Company and/or the Service Recipient to satisfy all Tax Liability. As further provided in Section 8 of the Plan, you hereby authorize
the Company and any applicable Service Recipient to satisfy any applicable withholding obligations with regard to the Tax Liability by
one or a combination of the following methods: (i) causing you to pay any portion of the Tax Liability in cash or cash equivalent in
a form acceptable to the Company and/or the Service Recipient; (ii) withholding from any compensation otherwise payable to you by the
Company or the Service Recipient; (iii) withholding shares of Common Stock from the shares of Common Stock issued or otherwise issuable
to you in connection with the Award; provided, however, that to the extent necessary to qualify for an exemption from application
of Section 16(b) of the Exchange Act, if applicable, such share withholding procedure will be subject to the express prior approval of
the Board or the Company’s Compensation Committee; (iv) permitting or requiring you to enter into a “same day sale”
commitment, if applicable, with a broker-dealer that is a member of the Financial Industry Regulatory Authority (a “FINRA
Dealer”), pursuant to this authorization and without further consent, whereby you irrevocably elect to sell a portion of
the shares of Common Stock to be delivered in connection with your Restricted Stock Units to satisfy the Tax Liability and whereby the
FINRA Dealer irrevocably commits to forward the proceeds necessary to satisfy the Tax Liability directly to the Company or the Service
Recipient; and/or (v) any other method determined by the Company to be in compliance with Applicable Law. Furthermore, you agree to pay
or reimburse the Company or the Service Recipient any amount the Company or the Service Recipient may be required to withhold, collect
or pay as a result of your participation in the Plan or that cannot be satisfied by the means previously described. In the event it is
determined that the amount of the Tax Liability was greater than the amount withheld by the Company and/or the Service Recipient (as
applicable), you agree to indemnify and hold the Company and/or the Service Recipient (as applicable) harmless from any failure by the
Company or the applicable Service Recipient to withhold the proper amount.

 

(c)               
The Company and/or the Service Recipient may withhold or account for your Tax Liability by considering statutory withholding
amounts or other withholding rates applicable in your jurisdiction(s), including (i) maximum applicable rates in your jurisdiction(s).
In the event of over-withholding, you may receive a refund of any over-withheld amount in cash from the Company or the Service Recipient
(with no entitlement to the Common Stock equivalent), or if not refunded, you may seek a refund from the local tax authorities. In the
event of under-withholding, you may be required to pay any Tax Liability directly to the applicable tax authority or to the Company and/or
the Service Recipient. If the Tax Liability withholding obligation is satisfied by withholding shares of Common Stock, for tax purposes,
you are deemed to have been issued the full number of shares of Common Stock subject to the vested portion of the RSU Award, notwithstanding
that a number of the shares of Common Stock is held back solely for the purpose of paying such Tax Liability.

 

(d)              
You acknowledge that you may not participate in the Plan and the Company shall have no obligation to issue or deliver shares
of Common Stock until you have fully satisfied any applicable Tax Liability, as determined by the Company. Unless any withholding obligation
for the Tax Liability is satisfied, the Company shall have no obligation to issue or deliver to you any Common Stock in respect of the
RSU Award.

 

    2 .

     

    

 

5.                  
Date of Issuance. 

 

(a)            
 The issuance of shares in respect of the Restricted Stock Units is intended to comply with U.S. Treasury Regulations Section
1.409A-1(b)(4) and will be construed and administered in such a manner. Subject to the satisfaction of the Tax Liability withholding
obligation, if any, in the event one or more Restricted Stock Units vests, the Company shall issue to you one (1) share of Common Stock
for each vested Restricted Stock Unit on the applicable vesting date. Each issuance date determined by this paragraph is referred to
as an “Original Issuance Date.”

 

(b)              
If the Original Issuance Date falls on a date that is not a business day, delivery shall instead occur on the next following
business day. In addition, if:

 

(i)                
the Original Issuance Date does not occur (1) during an “open window period” applicable to you, as determined
by the Company in accordance with the Company’s then-effective policy on trading in Company securities, or (2) on a date when you
are otherwise permitted to sell shares of Common Stock on an established stock exchange or stock market (including but not limited to
under a previously established written trading plan that meets the requirements of Rule 10b5-1 under the Exchange Act and was entered
into in compliance with the Company’s policies (a “10b5-1 Arrangement)), and

 

(ii)              
either (1) a Tax Liability withholding obligation does not apply, or (2) the Company decides, prior to the Original Issuance
Date, (A) not to satisfy the Tax Liability withholding obligation by withholding shares of Common Stock from the shares otherwise due,
on the Original Issuance Date, to you under this Award, and (B) not to permit you to enter into a “same day sale” commitment
with a broker-dealer (including but not limited to a commitment under a 10b5-1 Arrangement) and (C) not to permit you to pay your Tax
Liability in cash, then the shares that would otherwise be issued to you on the Original Issuance Date will not be delivered on
such Original Issuance Date and will instead be delivered on the first business day when you are not prohibited from selling shares of
the Common Stock in the open public market, but in no event later than December 31 of the calendar year in which the Original Issuance
Date occurs (that is, the last day of your taxable year in which the Original Issuance Date occurs), or, if and only if permitted
in a manner that complies with U.S. Treasury Regulations Section 1.409A-1(b)(4), no later than the date that is the 15th day of the third
calendar month of the applicable year following the year in which the shares of Common Stock under this Award are no longer subject to
a “substantial risk of forfeiture” within the meaning of U.S. Treasury Regulations Section 1.409A-1(d).

 

6.                  
Nature of Grant. In accepting the RSU Award, you acknowledge, understand and
agree that:

 

(a)               the
Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated
by the Company at any time, to the extent permitted by the Plan;

 

(b)              
the grant of the RSU Award is exceptional, voluntary and occasional and does not create any contractual or other right to
receive future grants of Restricted Stock Units, or benefits in lieu of Restricted Stock Units, even if Restricted Stock Units have been
granted in the past;

 

(c)              
all decisions with respect to future RSU Awards or other grants, if any, will be at the sole discretion of the Company;

 

(d)             
the RSU Award and your participation in the Plan shall not create a right to employment or other service relationship with
the Company;

 

(e)              the
RSU Award and your participation in the Plan shall not be interpreted as forming or amending an employment or service contract with
the Company or the Service Recipient, and shall not interfere with the ability of the Company or the Service Recipient, as
applicable, to terminate your Continuous Service (if any);

 

    3 .

     

    

 

(f)              
 you are voluntarily participating in the Plan;

 

(g)             
the RSU Award and the shares of Common Stock subject to the RSU Award, and the income from and value of same, are not intended
to replace any pension rights or compensation;

 

(h)              
the RSU Award and the shares of Common Stock subject to the RSU Award, and the income from and value of same, are not part
of normal or expected compensation for purposes of, including but not limited to, calculating any severance, resignation, termination,
redundancy, dismissal, end-of-service payments, bonuses, holiday pay, long-service awards, pension or retirement or welfare benefits
or similar payments;

 

(i)               
unless otherwise agreed with the Company in writing, the RSU Award and the shares of Common Stock subject to the RSU Award,
and the income from and value of same, are not granted as consideration for, or in connection with, the service you may provide as a
director of an Affiliate;

 

(j)              
the future value of the underlying shares of Common Stock is unknown, indeterminable and cannot be predicted with certainty;

 

(k)             
no claim or entitlement to compensation or damages shall arise from forfeiture of the RSU Award resulting from the termination
of your Continuous Service (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the
jurisdiction where you are providing service or the terms of your employment or other service agreement, if any);

 

(l)              
for purposes of the RSU Award, your Continuous Service will be considered terminated as of the date you are no longer actively
providing services to the Company or any Affiliate (regardless of the reason for such termination and whether or not later found to be
invalid or in breach of employment laws in the jurisdiction where you are providing service or the terms of your employment or other
service agreement, if any), and such date will not be extended by any notice period (e.g., your period of Continuous Service would
not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws
in the jurisdiction where you are providing service or the terms of your employment or other service agreement, if any); the Compensation
Committee shall have the exclusive discretion to determine when you are no longer actively providing services for purposes of your RSU
Award (including whether you may still be considered to be providing services while on a leave of absence); and

 

(m)            
neither the Company nor the Service Recipient shall be liable for any foreign exchange rate fluctuation between your local
currency and the United States Dollar that may affect the value of the Restricted Stock Units or of any amounts due to you pursuant to
the settlement of the RSU Award or the subsequent sale of any shares of Common Stock acquired upon settlement.

 

7.                  
Transferability. Except as otherwise provided in the Plan, your RSU Award is
not transferable, except by will or by the applicable laws of descent and distribution

 

8.                  
Corporate Transaction. Your RSU Award is subject to the terms of any agreement
governing a Corporate Transaction involving the Company, including, without limitation, a provision for the appointment of a stockholder
representative that is authorized to act on your behalf with respect to any escrow, indemnities and any contingent consideration.

 

    4 .

     

    

 

9.                 
 No Liability for Taxes. As a condition to accepting the RSU Award, you hereby
(a) agree to not make any claim against the Company, or any of its Officers, Directors, Employees or Affiliates related to any Tax Liability
arising from the RSU Award and (b) acknowledge that you were advised to consult with your own personal tax, financial and other legal
advisors regarding the tax consequences of the RSU Award and have either done so or knowingly and voluntarily declined to do so.

 

10.               
No Advice Regarding Grant. The Company is not providing any tax, legal or financial
advice, nor is the Company making any recommendations regarding your participation in the Plan, or your acquisition or sale of the underlying
shares of Common Stock. You should consult with your own personal tax, legal and financial advisors regarding your participation in the
Plan before taking any action related to the Plan.

 

11.               
Governing Law and Venue. The RSU Award and the provisions of this Agreement
are governed by, and construed in accordance with, the internal laws of the State of Delaware, without regard to the conflict of law
principles that would result in any application of any law other than the law of the State of Delaware. For purposes of any action, lawsuit
or other proceedings brought to enforce this Agreement, relating to it, or arising from it, the parties hereby submit to and consent
to the sole and exclusive jurisdiction of the courts of the State of Delaware, and no other courts, where this grant is made and/or to
be performed.

 

12.               
Severability. If any part of this Agreement or the Plan is declared by any court
or governmental authority to be unlawful or invalid, such unlawfulness or invalidity will not invalidate any portion of this Agreement
or the Plan not declared to be unlawful or invalid.  Any Section of this Agreement (or part of such a Section) so declared
to be unlawful or invalid will, if possible, be construed in a manner which will give effect to the terms of such Section or part of
a Section to the fullest extent possible while remaining lawful and valid.

 

13.              
Compliance with Law.  Notwithstanding any other provision of the Plan
or this Agreement, unless there is an exemption from any registration, qualification or other legal requirement applicable to the shares
of Common Stock, the Company shall not be required to deliver any shares issuable upon settlement of the Restricted Stock Units prior
to the completion of any registration or qualification of the shares under any local, state, federal or foreign securities or exchange
control law or under rulings or regulations of the U.S. Securities and Exchange Commission (“SEC”) or of any other governmental
regulatory body, or prior to obtaining any approval or other clearance from any local, state, federal or foreign governmental agency,
which registration, qualification or approval the Company shall, in its absolute discretion, deem necessary or advisable. You understand
that the Company is under no obligation to register or qualify the shares with the SEC or any state or foreign securities commission
or to seek approval or clearance from any governmental authority for the issuance or sale of the shares. Further, you agree that the
Company shall have unilateral authority to amend the Agreement without your consent to the extent necessary to comply with securities
or other laws applicable to issuance of shares of Common Stock.

 

14.               
Language. You acknowledge that you are proficient in the English language, or
have consulted with an advisor who is proficient in the English language, so as to enable you to understand the provisions of this Agreement
and the Plan. If you have received this Agreement or any other document related to the Plan translated into a language other than English
and if the meaning of the translated version is different than the English version, the English version will control.

 

15.                Electronic
Delivery and Participation. The Company may, in its sole discretion, decide to deliver any documents related to current
or future participation in the Plan by electronic means. You hereby consent to receive such documents by electronic delivery and
agree to participate in the Plan through an online or electronic system established and maintained by the Company or a third
party designated by the Company.

 

    5 .

     

    

 

16.              
Severability. The provisions of this Agreement are severable and if any one
or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless
be binding and enforceable.

 

17.              
Appendix. Notwithstanding any provisions in this Global RSU Award Agreement,
the RSU Award shall be subject to any additional terms and conditions set forth in any Appendix for your country. Moreover, if you relocate
to one of the countries included in the Appendix, the additional terms and conditions for such country will apply to you, to the extent
the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons.
The Appendix constitutes part of this Agreement.

 

18.              
Imposition of Other Requirement. The Company reserves the right to impose other
requirements on your participation in the Plan, on the RSU 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 you to sign any additional agreements
or undertakings that may be necessary to accomplish the foregoing.

 

19.              
Waiver.  You acknowledge that a waiver by the Company of breach of any provision
of this Agreement shall not operate or be construed as a waiver of any other provision of this Agreement, or of any subsequent breach
by you or any other participant.

 

20.              
Insider Trading/Market Abuse. You acknowledge that, depending on your or your
broker’s country or where the Company shares are listed, you may be subject to insider trading restrictions and/or market abuse
laws which may affect your ability to accept, acquire, sell or otherwise dispose of shares of Common Stock, rights to shares (e.g.,
Restricted Stock Units) or rights linked to the value of shares (e.g., phantom awards, futures) during such times you are considered
to have “inside information” regarding the Company as defined in the laws or regulations in the applicable jurisdictions).
Local insider trading laws and regulations may prohibit the cancellation or amendment of orders you placed before you possessed inside
information. Furthermore, you could be prohibited from (i) disclosing the inside information to any third party (other than on a “need
to know” basis) and (ii) “tipping” third parties or causing them otherwise to buy or sell securities. Keep in mind
third parties includes fellow employees. Any restrictions under these laws or regulations are separate from and in addition to any restrictions
that may be imposed under any applicable insider trading policy of the Company. You are responsible for complying with any restrictions
and should speak to your personal advisor on this matter.

 

21.              
Exchange Control, Foreign Asset/Account and/or Tax Reporting. Depending upon
the country to which laws you are subject, you may have certain foreign asset/account and/or tax reporting requirements that may affect
your ability to acquire or hold shares of Common Stock under the Plan or cash received from participating in the Plan (including from
any dividends or sale proceeds arising from the sale of shares of Common Stock) in a brokerage or bank account outside your country of
residence. Your country may require that you report such accounts, assets or transactions to the applicable authorities in your country.
You also may be required to repatriate cash received from participating in the Plan to your country within a certain period of time after
receipt. You are responsible for knowledge of and compliance with any such regulations and should speak with your personal tax, legal
and financial advisors regarding same.

 

    6 .

     

    

 

22.              
 Other Documents.  You hereby acknowledge receipt of or the right to
receive a document providing the information required by Rule 428(b)(1) promulgated under the Securities Act, which includes the Prospectus.  In
addition, you acknowledge receipt of the Company’s Trading Policy.

 

23.              
Questions.  If you have questions regarding these or any other terms and conditions
applicable to your RSU Award, including a summary of the applicable federal income tax consequences please see the Prospectus.

 

    7 .

     

    

 

Enovix
Corporation

2021
Equity Incentive Plan

 

Appendix

to Global RSU Award Agreement

 

Terms
and Conditions

 

This Appendix forms
part of the Agreement and includes additional terms and conditions that govern the RSU Award granted to you under the Plan if you reside
and/or work in one of the jurisdictions listed below. Capitalized terms used but not defined in this Appendix have the meanings set forth
in the Plan and/or in the Global RSU Award Agreement.

 

If you are a citizen
or resident (or are considered as such for local law purposes) of a country other than the country in which you are currently residing
and/or working, or if you relocate to another country after the grant of the RSU Award, the Company shall, in its discretion, determine
to what extent the additional terms and conditions contained herein shall be applicable to you.

 

Notifications

 

This Appendix may
also include information regarding exchange controls and certain other issues of which you should be aware with respect to participation
in the Plan. The information is based on the securities, exchange control, and other laws in effect in the respective countries as of
January 2021. Such laws are often complex and change frequently. As a result, you should not rely on the information in this Appendix
as the only source of information relating to the consequences of your participation in the Plan because the information may be out of
date at the time you vest in the Restricted Stock Units, acquire shares of Common Stock, or sell shares of Common Stock acquired under
the Plan.

 

In addition, the
information contained below is general in nature and may not apply to your particular situation. You should seek appropriate professional
advice as to how the relevant laws in your country may apply to your situation.

 

If you are a citizen
or resident (or are considered as such for local law purposes) of a country other than the country in which you are currently residing
and/or working, or if you relocate to another country after the grant of the RSU Award, the notifications herein may not apply to you
in the same manner.

 

    8 .

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