Document:

Document

Exhibit 10.3

Stock Award Form

STOCK AWARD AGREEMENT 
UNDER THE
MULTIPLAN CORPORATION
2020 OMNIBUS INCENTIVE PLAN 
MultiPlan Corporation, a Delaware corporation (the “Company”), pursuant to its 2020 Omnibus Incentive Plan, as it may be amended and restated from time to time (the “Plan”), hereby grants to [•] (the “Participant”) [•] shares of Common Stock (the “Awarded Shares”), effective as of [•], 2022 (the “Date of Grant”).  The Awarded Shares are subject to all of the terms and conditions as set forth in this agreement (the “Stock Award Agreement”), and in the Plan, all of which are incorporated herein in their entirety.  Capitalized terms not otherwise defined herein shall have the meaning set forth in the Plan. The Awarded Shares are hereby designated as Other-Equity Based Awards, granted pursuant to Section 9 of the Plan.
1.Letter Agreement.  Reference is made to that certain letter agreement, dated August 4, 2021, between the MultiPlan, Inc. (“MPI”) and the Participant (the “Letter Agreement”) amending the Participant’s employment agreement with MPI and Polaris Investment Holdings, L.P., a Delaware limited partnership (“Holdings”), dated as of May 5, 2016 (the “Employment Agreement”). The Participant acknowledges and agrees that the Awarded Shares are being granted in compliance with, and in satisfaction of, Section 4(b) of the Employment Agreement, as amended by the Letter Agreement, with respect to the portion of the Severance Amounts (as defined in the Letter Agreement) payable in shares of fully vested Common Stock.
2.Vesting.  The Awarded Shares shall be fully vested as of the Date of Grant.
3.Issuance of Shares.  Upon the grant of the Awarded Shares, the Committee shall cause a stock certificate registered in the name of the Participant to be issued or shall cause share(s) of Common Stock to be registered in the name of the Participant and held in book-entry form subject to the Company’s directions.  Each certificate, if any, or book entry representing Awarded Shares shall bear a legend or book entry notation as determined in good faith by the Company to be appropriate.
4.Company; Participant. 
(a)The term “Company” as used in this Stock Award Agreement with reference to service shall include the Company and its Subsidiaries. 
(b)Whenever the word “Participant” is used in any provision of this Stock Award Agreement under circumstances where the provision should logically be construed to apply to the executors, the administrators, or the person or persons to whom the shares of Common Stock may be transferred in accordance with Section 13(b) of the Plan, the word “Participant” shall be deemed to include such person or person.
5.Tax Withholding.  The provisions of Section 13(d) of the Plan are incorporated herein by reference and made a part hereof and the provisions of Section 13(d)(ii)(B) of the Plan shall apply with respect to the satisfaction of any withholding liability in connection with the Awarded Shares, and the number of shares of Common Stock issued and delivered to the Participant in respect of the award of the Awarded Shares hereunder shall be reduced accordingly.
002727-0003-14400-ACTIVE.45000937.1

        2

6.Notice.  Every notice or other communication relating to this Stock Award Agreement between the Company and the Participant shall be in writing, which may include by electronic mail, and shall be mailed to or delivered to the party for whom it is intended at such address as may from time to time be designated by such party in a notice mailed or delivered to the other party as herein provided; provided that, unless and until some other address be so designated, all notices or communications by the Participant to the Company shall be mailed or delivered to the Company at its principal executive office, to the attention of the Company’s General Counsel or its designee, and all notices or communications by the Company to the Participant may be given to the Participant personally or may be mailed to the Participant at the Participant’s last known address, as reflected in the Company’s records.  Notwithstanding the above, all notices and communications between the Participant and any third-party plan administrator shall be mailed, delivered, transmitted or sent in accordance with the procedures established by such third-party plan administrator and communicated to the Participant from time to time. 
7.No Right to Continued Employment or Service.  This Stock Award Agreement does not confer upon the Participant any right to continue as an employee or other service provider to the Company.  
8.Binding Effect.  This Stock Award Agreement shall be binding upon the heirs, executors, administrators and successors of the parties hereto. 
9.Waiver and Amendments.  Except as otherwise set forth in Section 12 of the Plan, any waiver, alteration, amendment or modification of any of the terms of this Stock Award Agreement shall be valid only if made in writing and signed by the parties hereto; provided, however, that any such waiver, alteration, amendment or modification is consented to on the Company’s behalf by the Committee.  No waiver by either of the parties hereto of their rights hereunder shall be deemed to constitute a waiver with respect to any subsequent occurrences or transactions hereunder unless such waiver specifically states that it is to be construed as a continuing waiver. 
10.Governing Law.  This Stock Award Agreement shall be construed and interpreted in accordance with the laws of the State of Delaware, without regard to the principles of conflicts of law thereof.  Notwithstanding anything contained in this Stock Award Agreement or the Plan to the contrary, if any suit or claim is instituted by the Participant or the Company relating to this Stock Award Agreement or the Plan, the Participant hereby submits to the exclusive jurisdiction of and venue in the courts of Delaware. 
11.Plan.  The terms and provisions of the Plan are incorporated herein by reference.  In the event of a conflict or inconsistency between the terms and provisions of the Plan and the provisions of this Stock Award Agreement, this Stock Award Agreement shall govern and control.
12.Imposition of Other Requirements.  The Company reserves the right to impose other requirements on the Participant’s participation in the Plan, on Awarded Shares and on any shares of Common Stock acquired under the Plan, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require the Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.
002727-0003-14400-ACTIVE.45000937.1

        3

13.Electronic Delivery and Acceptance.  The Company may, in its sole discretion, decide to deliver any documents related to current or future participation in the Plan by electronic means.  The Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.
14. Entire Agreement.  This Stock Award Agreement and the Plan constitute the entire agreement of the parties hereto in respect of the subject matter contained herein and supersede all prior agreements and understandings of the parties, oral and written, with respect to such subject matter.
*    *    *
002727-0003-14400-ACTIVE.45000937.1

THE UNDERSIGNED PARTICIPANT ACKNOWLEDGES RECEIPT OF THIS STOCK AWARD AGREEMENT AND THE PLAN, AND, AS AN EXPRESS CONDITION TO THE GRANT OF SHARES OF COMMON STOCK HEREUNDER, AGREES TO BE BOUND BY THE TERMS OF THIS STOCK AWARD AGREEMENT AND THE PLAN.

PARTICIPANT1                    

______________________________

MULTIPLAN CORPORATION

___________________________________ 
By:    
Title:

1     To the extent that the Company has established, either itself or through a third-party plan administrator, the ability to accept this award electronically, such acceptance shall constitute the Participant's signature hereto. 
002727-0003-14400-ACTIVE.45000937.1EX-10.1

 Exhibit 10.1 
  

 
 One Sansome St. 33rd Floor 

San Francisco, CA 94104 
 hr@wish.com

 January 26, 2022 
 VIA EMAIL 

Vijay Talwar 
 Dear Vijay: 

ContextLogic Inc. (the “Company” or “Wish”) is pleased to offer you employment in our San Francisco office, on the
following terms: 
  

	 	1.	 Position and Start Date. Your title will be Chief Executive Officer. In this role, you will report to
the Company’s Board of Directors and you will be expected to perform such duties and exercise such responsibilities as are assigned from time-to-time. In carrying
out these duties and responsibilities, you shall comply with all policies, procedures, rules and regulations, both written and oral, as are provided by the Company from
time-to-time, and carry out said duties and responsibilities in a diligent, faithful and honest manner. Your employment start date with the Company will be
February 1, 2022 or such other date as may be mutually agreed upon by you and the Company (“Start Date”); this will also be your appointment date for external reporting purposes. You will also be appointed as a
member of our Board of Directors, effective as of your Start Date. 

  

	 	2.	 Compensation. The Company will pay you a starting base salary of $550,000 per year, payable in
accordance with the Company’s standard payroll schedule. This salary will be subject to adjustment pursuant to the Company’s employee compensation policies and procedures in effect from time to time. 

 

	 	3.	 Signing Bonus. This offer includes a signing bonus in the amount of $1,800,000, which will be
paid to you in four installments, each installment subject to your continued employment with the Company and paid as noted below. 

  

	 	(a)	 If you remain continuously employed with the Company through and including August 1, 2022, you will
receive a bonus in the amount of $600,000, subject to applicable taxes and withholdings, to be paid to you in the August 31, 2022 payroll. 

  

	 	(b)	 If you remain continuously employed with the Company through and including February 1, 2023, you will
receive a bonus in the amount of $600,000, subject to applicable taxes and withholdings, to be paid to you in the February 28, 2023 payroll. 

  

	 	(c)	 If you remain continuously employed with the Company through and including August 1, 2023, you will
receive a bonus in the amount of $300,000, subject to applicable taxes and withholdings, to be paid to you in the August 31, 2023 payroll. 

	 	(d)	 If you remain continuously employed with the Company through and including February 1, 2024, you will
receive a bonus in the amount of $300,000, subject to applicable taxes and withholdings, to be paid to you in the February 28, 2024 payroll. 

  

	 	4.	 Relocation Bonus. This offer includes a relocation bonus in the amount of $250,000, which will be
paid to you within ten (10) business days of your Start Date, and is intended to cover your relocation to the San Francisco Bay Area and all associated expenses. If you voluntarily resign or are terminated for cause (as defined in the Executive
Severance and Change in Control Agreement, as further described below) from the Company before the one-year anniversary of your Start Date, you agree to repay the Company the full net amount of the signing
bonus within 30 days of your separation date. 

  

	 	5.	 Employee Benefits. As a regular employee of the Company, you will be eligible to participate in a number
of Company-sponsored benefits, including our group health insurance plan, in accordance with the applicable plan documents and policies. The Company reserves the right to modify or discontinue such benefit plans in its sole discretion. In addition,
you will be eligible to participate in the Company’s paid time off policy, as in effect from time to time. A copy of the current paid time off policy will be provided to you upon hire and any subsequent versions will be posted on the
Company’s wiki/intranet. 

  

	 	6.	 Restricted Stock Units. Subject to the approval of the Company’s Board of Directors or its
Compensation Committee, you will be granted an award of Restricted Stock Units (“RSUs”) for that number of shares of the Company’s Common Stock equal to $12,000,000 divided by the average closing price of a share of the
Company’s Common Stock as reported on Nasdaq during the full calendar month prior to your Start Date, rounded down to the nearest whole share. The RSUs will vest over time based on your continuous service with the Company, with 25% of the RSUs
vesting on the first Company Vesting Date following your completion of 12 months of continuous service. An additional 1/12th of the remaining RSUs will vest on each Company Vesting Date thereafter, provided that you remain in continuous service
through each such Company Vesting Date. A “Company Vesting Date” means February 15th, May 15th, August 15th, or November 15th. The Company intends to grant the RSU award as an “inducement grant” (within the meaning of Nasdaq
Marketplace Rule 5635(c)(4)). While the RSU award will be granted outside of the Company’s 2020 Equity Incentive Plan (the “Plan”), the other terms and conditions applicable to the RSUs will be consistent with those applicable to RSUs
granted under the Plan, as described in the applicable Notice of Restricted Stock Unit Award and Restricted Stock Unit Agreement. 

  

	 	7.	 Stock Options. Subject to the approval of the Company’s Board of Directors or its Compensation
Committee, you will be granted an option to purchase that number of shares of the Company’s Class A Common Stock equal to $16,800,000 divided by the average closing price of a share of the Company’s Common Stock as reported on
Nasdaq during the full calendar month prior to your Start Date, rounded down to the nearest whole share (the “Option”). The exercise price per share of the Option will be equal to the fair market value of the Company’s Class A
Common Stock on the date of grant, which is your Start Date. The Option will vest and become exercisable over time based on your continuous service with the Company. The Vesting Commencement Date for the Option will be the first Company Vesting Date
(as defined below) following your Start Date; 1/16th of the Option shares will vest on each Company Vesting Date after the Vesting Commencement Date, provided that you remain in continuous service through each such Company Vesting Date. A
“Company Vesting Date” means February 15th, May 15th, August 15th, or November 15th. The Company intends to grant the Option as an “inducement grant” (within the meaning of Nasdaq Marketplace Rule 5635(c)(4)). While the Option
will be granted outside of the Plan, the other terms and conditions applicable to the Option will be consistent with those applicable to options granted under the Plan, as described in the applicable Notice of Stock Option Grant and Stock Option
Agreement. 

	 	8.	 Executive Severance and Change in Control. Attached as Exhibit A is the Executive Severance and
Change in Control Agreement, pursuant to which you will be eligible for certain severance and acceleration benefits in connection with certain qualifying terminations of your employment with the Company.  

 

	 	9.	 Confidential Information and Invention Assignment Agreement. Like all Company employees, you will be
required, as a condition of your employment with the Company, to sign the Company’s standard Confidential Information and Invention Assignment Agreement, a copy of which is attached hereto as Exhibit B. We also want to make clear that we
do not want you to, and we hereby direct you not to, bring with you any confidential or proprietary information of any former employer or other entity or to violate any other obligations you may have to any former employer or other entity. By
signing this agreement, you confirm to the Company that you have no contractual commitments or other legal obligations that would prevent you from performing your duties for the Company. 

 

	 	10.	 Conflicts of Interest. During your employment, you agree not to engage in any employment, business, or
activity that is in any way competitive with the business or proposed business of the Company, which materially interferes with the performance of your job duties, or creates a conflict of interest (this includes any other full-time employment
arrangements); provided, however, that you may continue to provide services and/or continue to engage in the current business activities that you list on Exhibit C hereto during your employment with the Company. During your employment with
the Company, you may request (and submit to Wish for approval) an Outside Activity Disclosure Form from hr@wish.com to disclose any other outside employment, business, or activity in which you intend to engage during employment with Wish.
Failure to make disclosures is considered a material representation that you are not engaged or associated with any such outside activities at the beginning of employment. You will be responsible for complying with Wish’s Conflict of Interest
Policy, including updated disclosures of such outside activities, at all times during employment. 

  

	 	11.	 Employment Relationship. Employment with the Company is at-will.
This means that you have the right to resign and the Company has the right to terminate your employment at any time, for any or no reason, with or without cause, and with or without notice. Any contrary representations that may have been made to you
are superseded by this letter agreement. This, along with the Confidential Information and Invention Assignment Agreement, is the full and complete agreement between you and the Company on this term. Although your job duties, title,
responsibilities, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written agreement signed
by you and the Board of Directors of the Company. At the sole discretion of the Company, you agree to serve, without additional compensation, as a director, officer, or member of the board of directors (collectively, “officer positions”)
of any of the Company’s subsidiaries, partnerships, joint ventures or other affiliates. If your employment with the Company is terminated for any reason, whether such termination is voluntary or involuntary, you agree to take all necessary
actions, as reasonably requested by the Company, to resign from all officer positions. 

	 	12.	 Tax Matters. 

  

	 	(a)	 Withholding. All forms of compensation referred to in this letter agreement are subject to reduction to
reflect applicable withholding and payroll taxes and other deductions required by law. 

  

	 	(b)	 Tax Advice. You are encouraged to obtain your own tax advice regarding your compensation from the
Company. You agree that the Company does not have a duty to design its compensation policies in a manner that minimizes your tax liabilities, and you will not make any claim against the Company or its Board of Directors related to tax liabilities
arising from your compensation. 

  

	 	13.	 Interpretation, Amendment and Enforcement. This letter agreement and the accompanying exhibits,
including the Confidential Information and Invention Assignment Agreement, along with documents related to your equity grants, constitute the complete agreement between you and the Company, contain all of the terms of your employment with the
Company and supersede any prior between you and the Company. This letter agreement may only be amended by an authorized officer of the Company. 

  

	 	14.	 Arbitration of Disputes. The Company and I mutually consent to the resolution by arbitration, under the
applicable rules of JAMS (which are available at jamsadr.com, or from the Company upon my request), of all claims (common law or statutory) that the Company might have against me, or that I may have against the Company, its affiliated
companies, the directors, employees or agents of any such company, and all successors and assigns of any of them. The Company and I waive the right to have a court or jury trial on any arbitrable claim. The Federal Arbitration Act shall govern
this arbitration agreement, or if for any reason the FAA does not apply, the arbitration law of the state in which I rendered services to the Company. Notwithstanding any provision of the JAMS Rules, arbitration shall occur on an individual basis
only, and a court of competent jurisdiction (and not an arbitrator) shall resolve any dispute about the formation, validity, or enforceability of any provision of this arbitration agreement. I waive the right to initiate, participate in, or
recover through, any class or collective action. To the maximum extent permitted by law, the arbitrator shall award the prevailing party its costs and reasonable attorney’s fees; provided, however, that the arbitrator at all times shall apply
the law for the shifting of costs and fees that a court would apply to the claim(s) asserted. Nothing in this arbitration agreement prevents me from filing or recovering pursuant to a complaint, charge, or other communication with any federal, state
or local governmental or law enforcement agency. This arbitration agreement shall remain in effect notwithstanding the termination of my association with the Company. To opt-out of this paragraph, you
must complete an opt-out form prior to your Start Date. Please email hr@wish.com for the form. 

  

	 	15.	 Contingencies. This offer is contingent upon proof of identity and work eligibility, which must be
submitted to the Company within 72 hours of your Start Date. Your continued employment with the Company is contingent upon you remaining authorized to work in the United States for Wish. The Company reserves the right to conduct background, credit
and/or reference checks on all of its potential employees. Your job offer, therefore, is contingent upon clearance of such background, credit and/or reference checks, including satisfactory responses to a D&O questionnaire.

 We hope that you will accept our offer to join the Company. You may indicate your agreement
with these terms and accept this offer by signing and dating this letter agreement and the enclosed exhibit, and returning them to me. This offer, if not accepted, will expire at the end of day on January 27, 2022. 

 

	
	Very truly yours,
	
	CONTEXTLOGIC INC.
	
	/s/ Tanzeen Syed
	
	Tanzeen Syed
	Chair of the Compensation Committee and Lead Independent Director

  

	
	Enclosures
	
	I have read and accept this employment offer:
	
	Vijay Talwar
	Name
	
	 /s/ Vijay Talwar

	Signature
	
	Date: 01/27/2022
	Date (MM/DD/YYYY)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00339-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00339-of-00352.parquet"}]]