Document:

ex101-formofrestrictedst

XPEL, INC.  RESTRICTED STOCK UNIT AWARD AGREEMENT  This Restricted Stock Unit Award Agreement (the “Agreement”), made as of the --- day  of July, 2021 (the “Grant Date”) by and between XPEL, Inc., a Nevada corporation (the  “Company”), and [___________] (“Employee”), evidences the grant by the Company of an  Award of Restricted Stock Units (the “Award”) to the Employee on such date and the  Employee’s acceptance of the Award in accordance with the provisions of the XPEL, Inc. 2020  Equity Incentive Plan, as amended or restated from time to time (the “Plan”).  The Company and  the Employee hereby agree as follows:   1. Basis for Award.  This Award is made under the Plan pursuant to Section 8  thereof.  2. Restricted Stock Units Awarded.   (a) The Company hereby awards to the Employee on the Grant Date an  Award consisting of, in the aggregate, [___________] Restricted Stock Units  (“Restricted Stock Units”). Each Restricted Stock Unit represents the right to receive one  share of Common Stock, subject to the terms and conditions set forth in  this Agreement and the Plan.   (b) Each Restricted Stock Units shall be credited to a separate account  maintained for the Employee on the books and records of the Company (the "Account").  All amounts credited to the Account shall continue for all purposes to be part of the  general assets of the Company.  (c) Subject to any exceptions set forth in this Agreement or the Plan, during  the Period of Restriction and until such time as the Restricted Stock Units are settled in  accordance with Section 6,  the Restricted Stock Units or the rights relating thereto shall  not be transferred on the books of the Company nor shall any attempted sale, transfer,  assignment, pledge or other disposition of any of the Restricted Stock Units be effective  unless and until the terms and provisions of this Agreement are first complied with.  Any  attempted sale, transfer, assignment, pledge or other disposition of any shares of the  Restricted Stock Units that does not comply with the provisions of this Agreement shall  be invalid and of no effect.  (d) Except as provided in the Plan or this Agreement, the restrictions on the  Restricted Stock Units covered by this Agreement are that the Restricted Stock Units or  the rights relating thereto will be forfeited by the Employee and all of the Employee’s  rights to such Restricted Stock Units shall immediately terminate without any payment or  consideration by the Company, in the event of any sale, assignment, transfer,  hypothecation, pledge or other alienation of such Restricted Stock Units made or  attempted, whether voluntary or involuntary, and if involuntary whether by process of  law in any civil or criminal suit, action or proceeding, whether in the nature of an  insolvency or bankruptcy proceeding or otherwise, except that the Restricted Stock Units  or the rights relating thereto may be transferred by will or by the laws of descent or  

 

29647628v.4 2  distribution and may be exercised, during the lifetime of the Employee, only by the  Employee, unless the Committee permits further transferability, on a general or specific  basis, in which case the Committee may impose conditions and limitations on any  permitted transferability.  (e) Subject to the terms of this Agreement and the Plan, upon termination of  the Employee’s employment with the Company for any reason, all Restricted Stock Units  may vest or be forfeited in accordance with the terms and conditions established by the  Committee or as specified in this Agreement. For purposes of clarity, in the event of a  Change of Control, Section 4 of this Agreement and the terms of the Plan shall control.  Each Restricted Stock Unit Award may, in the sole and absolute discretion of the  Committee, have different forfeiture and vesting provisions.  3. Period of Restriction; Vesting.  Except as otherwise provided herein, the  Restricted Stock Units shall vest in four (4) equal installments of 25% of the number of units set  forth in Section 2.(a) beginning on the first annual anniversary of the Grant Date and on each  annual anniversary thereafter until fully vested.  Except as set forth in Section 4, and the Plan, if  the Employee ceases to be an employee of the Company for any reason, at any time prior to each  vesting date, vesting of the Restricted Stock Units shall cease and any unvested Restricted Stock  Units shall automatically be forfeited upon cessation of Employee’s employment with the  Company.  4. Death or Disability; Change of Control. In the event (a) of Employee’s Death or  Disability, (b) Employee’s employment is terminated by the Company (or a Subsidiary which is  his or her employer) for reasons other than Cause (as defined in the Plan) or if Employee  voluntarily terminates his or her employment for Good Reason (as defined in the Plan) within 24  months following a Change of Control (as defined in the Plan), or (c) the Plan is terminated by  the Surviving Entity (as defined in the Plan) following a Change of Control without provision for  the continuation of the Restricted Stock Units awarded hereby, the vesting of  all Restricted  Stock Units which have not otherwise expired shall be Accelerated (as defined in the Plan). If,  upon a Change of Control, awards in other shares or securities are substituted for the Restricted  Stock Units awarded hereby, and immediately following the Change of Control the Employee  becomes employed (if the Employee was an employee immediately prior to the Change of  Control) by the Surviving Entity, the Employee shall not be treated as having terminated  employment or service for purposes of Section 3 of the Plan until such time as the Employee’s  employment or service with the Surviving Entity (or successor), as applicable, is terminated.  5. Rights as Shareholder; Dividend Equivalents.  (a) The Employee shall not have any rights of a shareholder with respect to  the shares of Common Stock underlying the Restricted Stock Units unless and until the  Restricted Stock Units vest and are settled by the issuance of such shares of Common  Stock.   (b) Upon and following the settlement of the Restricted Stock Units, the  Employee shall be the record owner of the shares of Common Stock underlying the  Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and  

 

29647628v.4 3  as record owner shall be entitled to all rights of a shareholder of the Company (including  voting rights).   If, prior to the settlement date, the Company declares a cash or stock dividend  on the shares of Common Stock, then, on the payment date of the dividend, the Employee's  Account shall be credited with an amount equal to the cash and stock dividends paid by the  Company in respect of one share of Common Stock (“Dividend Equivalents”) in an amount  equal to the dividends that would have been paid to the Employee if one share of Common  Stock had been issued on the Grant Date for each Restricted Stock Unit granted to the  Employee as set forth in this Agreement.  The Dividend Equivalents credited to the Employee's Account will be deemed  to be reinvested in additional Restricted Stock Units (rounded to the nearest whole share)  and will be subject to the same terms and conditions as the Restricted Stock Units to which  they are attributable and shall vest or be forfeited (if applicable) at the same time as the  Restricted Stock Units to which they are attributable. Such additional Restricted Stock Units  shall also be credited with additional Restricted Stock Units as any further dividends are  declared.  6. Settlement of Restricted Stock Units.  (a) Subject to Section 10 hereof, promptly following the vesting date, and in  any event no later than 30 days after  such vesting occurs, the Company shall (a) issue  and deliver to the Employee the number of shares of Common Stock equal to the number  of Restricted Stock Units which have vested (“Vested Units”) and cash equal to any  Dividend Equivalents credited with respect to such Vested Units and the interest thereon  or, at the discretion of the Committee, shares of Common Stock having a Fair Market  Value equal to such Dividend Equivalents and the interest thereon; and (b) enter the  Employee's name on the books of the Company as the shareholder of record with respect  to the shares of Common Stock delivered to the Employee.  (b)  If the Employee is deemed a "specified employee" within the meaning of  Section 409A of the Code, as determined by the Committee, at a time when the  Employee becomes eligible for settlement of the RSUs upon his "separation from  service" within the meaning of Section 409A of the Code, then to the extent necessary to  prevent any accelerated or additional tax under Section 409A of the Code, such  settlement will be delayed until the earlier of: (a) the date that is six months following the  Employee's separation from service and (b) the Employee's death.  (c) To the extent that the Employee does not vest in  any Restricted Stock Units, all interest in such Restricted Stock Units and any related  Dividend Equivalents) shall be forfeited. The Employee has no right or interest in  any Restricted Stock Units that are forfeited.  7. Beneficiary Designations.  The Employee shall file with the Secretary of the  Company a written designation of his or her beneficiary (“Designated Beneficiary”) to whom  Restricted Stock Units otherwise due the Employee shall be distributed in the event of  

 

29647628v.4 4  Employee’s death.  The Employee shall have the right to change the Designated Beneficiary  from time to time, provided, however, that any change shall not become effective until received  in writing by the Secretary of the Company.  If any Designated Beneficiary shall survive the  Employee but shall die before receiving all of the Restricted Stock Units under the Plan, any  remaining Restricted Stock Units due the Employee shall be distributed to the deceased  Designated Beneficiary’s estate.  If there is no Designated Beneficiary on file at the time of the  Employee’s death, or if the Designated Beneficiary has predeceased such Employee, the  payment of any remaining benefits shall be made to the Employee’s estate.  8. Prerequisites to Benefits.  Neither the Employee, nor any person claiming through  the Employee, shall have any right or interest in the Restricted Stock Units awarded hereunder,  unless and until all terms, conditions and provisions of this Agreement and the Plan which affect  the Employee or such other person shall have been complied with as specified herein or in the  Plan.  9. Compliance with Laws and Regulations.  The issuance and transfer of shares of  Common Stock shall be subject to compliance by the Company and the Employee with all  applicable requirements of securities laws and with all applicable requirements of any stock  exchange on which the Common Stock of the Company may be listed at the time of such  issuance or transfer, and further subject to the approval of counsel for the Company with respect  to such compliance.  .  10. Tax Liability and Withholding.  The Employee shall be required to pay to the  Company, and the Company shall have the right to deduct from any compensation paid to the  Employee pursuant to the Plan, the amount of any required withholding taxes in respect of the  Restricted Stock Units and to take all such other action as the Committee deems necessary to  satisfy all obligations for the payment of such withholding taxes. The Committee may permit the  Employee to satisfy any federal, state or local tax withholding obligation by any of the following  means, or by a combination of such means:  (a) tendering a cash payment.  (b) authorizing the Company to withhold shares of Common Stock from the  shares of Common Stock otherwise issuable or deliverable to the Employee as a result of  the vesting of the Restricted Stock Units; provided, however, that no shares of Common  Stock shall be withheld with a value exceeding the maximum amount of tax required to  be withheld by law.  (c) delivering to the Company previously owned and unencumbered shares of  Common Stock.   Notwithstanding any action the Company takes with respect to any or all income tax, social  insurance, payroll tax, or other tax-related withholding ("Tax-Related Items"), the ultimate  liability for all Tax-Related Items is and remains the Employee's responsibility and the Company  (a) makes no representation or undertakings regarding the treatment of any Tax-Related Items in  connection with the grant, vesting or settlement of the Restricted Stock Units or the subsequent  

 

29647628v.4 5  sale of any shares; and (b) does not commit to structure the Restricted Stock Units to reduce or  eliminate the Employee's liability for Tax-Related Items.  11. No Right to Continued Service.  Nothing in this Agreement shall be deemed by  implication or otherwise to confer upon the Employee the right to continue in the service of the  Company, or impose any limitation on any right of the Company or any of its affiliates to  terminate the Employee’s service at any time for any reason.  12. Representations and Warranties of Employee.  The Employee represents and  warrants to the Company that:   (a) The Employee has received a copy of the Plan and has read and  understands the terms of the Plan and this Agreement, and agrees to be bound by their  terms and conditions.  The Employee acknowledges that there may be adverse tax  consequences upon the vesting of Restricted Stock Units or disposition of the Restricted  Stock Units once vested, and that the Employee should consult a tax adviser prior to such  time.   (b) The Employee agrees to sign such additional documentation as may  reasonably be required from time to time by the Company.  (c) The Employee represents and agrees the Restricted Stock Units are being  acquired without a view to distribution thereof.  13. Adjustments to Shares.  Pursuant to Section 13 of the Plan, the Committee may  make appropriate adjustments to the number and class of shares relating to Restricted Stock  Units as it deems appropriate, in its sole discretion, to preserve the value of this Award.  The  Committee’s adjustment shall be made in accordance with the provisions of Section 13 of the  Plan and shall be effective and final, binding and conclusive for all purposes of the Plan and this  Agreement.   14. No Impact on Other Benefits. The value of the Employee's Restricted Stock  Units is not part of his or her normal or expected compensation for purposes of calculating any  severance, retirement, welfare, insurance or similar employee benefit.  15. Governing Law; Modification.  This Agreement shall be governed by the laws of  the State of Texas without regard to the conflict of law principles.  The Agreement may not be  modified except in writing signed by both parties.   16. Section 409A. This Agreement is intended to comply with Section 409A of the  Code or an exemption thereunder and shall be construed and interpreted in a manner that is  consistent with the requirements for avoiding additional taxes or penalties under Section 409A of  the Code. Notwithstanding the foregoing, the Company makes no representations that the  payments and benefits provided under this Agreement comply with Section 409A of the Code  and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest  or other expenses that may be incurred by the Employee on account of non-compliance with  Section 409A of the Code.  

 

29647628v.4 6  17. Restricted Stock Units Subject to Plan. This Agreement is subject to the Plan as  approved by the Company's shareholders. The terms and provisions of the Plan as it may be  amended from time to time are hereby incorporated herein by reference. In the event of a conflict  between any nondiscretionary terms and provisions of the Plan and the terms and provisions  contained herein, the applicable terms and provisions of the Plan will govern and prevail. In the  event of a conflict between the discretionary terms and provisions of the Plan and the terms and  provisions contained herein, the applicable terms and provisions of this Agreement will govern  and prevail.  18. Defined Terms.  Except as otherwise provided herein, or unless the context  clearly indicates otherwise, capitalized terms used but not defined herein have the definitions as  provided in the Plan.    19. Miscellaneous.  The masculine pronoun shall be deemed to include the feminine,  and the singular number shall be deemed to include the plural unless a different meaning is  plainly required by the context.   

 

29647628v.4 7  IN WITNESS WHEREOF, the parties hereto have signed this Agreement as of the date first  above written.      XPEL, INC.        By:    Name:    Title:          EMPLOYEE         Printed Name:Exhibit 10.1
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CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS ([***]), HAS BEEN OMITTED BECAUSE
THE INFORMATION (I) IS NOT MATERIAL AND
(II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED.

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SIXTH AMENDMENT TO SUPPLY AGREEMENT
This sixth amendment (“Sixth Amendment”) to the Supply Agreement by and between MannKind Corporation (“MannKind”) and Amphastar Pharmaceuticals, Inc. (“Amphastar”), originally dated July 31, 2014 and as previously amended on October 31, 2014 (“First Amendment”), November 9, 2016 (“Second Amendment”), April 11, 2018 (“Third Amendment”), December 24, 2018 (“Fourth Amendment”) and August 2, 2019 (the “Fifth Amendment”) (collectively, the “Agreement”), is hereby made as of the 24th day of May, 2021, by and between MannKind on the one hand, and on the other hand, Amphastar.  
RECITALS
WHEREAS, MannKind and Amphastar entered into the Agreement pursuant to which Amphastar is to manufacture and supply the Product to MannKind, and MannKind is to purchase certain minimum quantities of the Product; and
WHEREAS MannKind and Amphastar have determined it to be mutually beneficial to amend the Agreement as set forth herein.
NOW, THEREFORE, for good and valuable consideration, MannKind and Amphastar hereby agree to amend the Agreement as follows:
1.Definitions.  Unless otherwise defined herein, each of the capitalized terms used in this Sixth Amendment shall have the definition and meaning ascribed to it in the Agreement.
2.Amendment Fees.  In order to compensate Amphastar and its subsidiaries for its unused manufacturing capacity related to year 2021 and 2022 production, MannKind shall make the following payments (in U.S. dollars) to Amphastar France Pharmaceuticals S.A.S., as manufacturer of the Product, no later than the dates specified below: 
	Amount
	Payment Due Date

	$1,000,000
	June 30, 2021

	$1,000,000
	January 31, 2022

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3.Amendments to the Agreement. Subject to Section 2 of this Sixth Amendment, the Agreement shall be, and hereby is, amended, as follows:
3.1The table in Section 6.1 of the Agreement, as amended by the First, Second, Fourth and Fifth Amendments, shall be amended and replaced in its entirety with the following:
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	Calendar Year
	Purchase Commitment Quantities (kg)
	Purchase Price (per gram)
	Delivery and Payment

	2021
	[***]
	[***]
	Q1:  [***] kg (delivered March 29, 2021)
Q2:  [***] kg
Q3:  [***] kg
Q4:  [***] kg

	2022
	[***]
	[***]
	25% of the Purchase Commitment Quantities shall be purchased on a Quarterly basis. 

	2023
	[***]
	[***]
	25% of the Purchase Commitment Quantities shall be purchased on a Quarterly basis.

	2024
	[***]
	[***]
	25% of the Purchase Commitment Quantities shall be purchased on a Quarterly basis.

	2025
	[***]
	[***]
	25% of the Purchase Commitment Quantities shall be purchased on a Quarterly basis.

	2026
	[***]
	[***]
	25% of the Purchase Commitment Quantities shall be purchased on a Quarterly basis.

	2027
	[***]
	[***]
	25% of the Purchase Commitment Quantities shall be purchased on a Quarterly basis.

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3.2Section 10.1 of the Agreement shall be extended until December 31, 2027.  All other terms and conditions in Section 10.1 shall remain in full force and effect.  
4.Final Agreement.  From and after the execution of this Sixth Amendment, all references in the Agreement (or in the Sixth Amendment) to “this Agreement,” “hereof,” “herein,” “hereto,” and similar words or phrases shall mean and refer to the Agreement as amended by this Sixth Amendment.  The Agreement as amended by this Sixth Amendment constitutes the entire agreement by and between the Parties as to the subject matter hereof.  Except as expressly modified 

2

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by this Sixth Amendment, all other terms and conditions of the Agreement shall remain in full force and effect
IN WITNESS WHEREOF, each of MannKind and Amphastar has caused this Sixth Amendment to be executed by their duly authorized officers.
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	MannKind Corporation
​
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By:  /s/Steven B. Binder​ ​​ ​
Name:  Steven B. Binder
Title: Chief Executive Officer
	Amphastar Pharmaceuticals, Inc. 
​
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By:  /s/ Jacob Liawatidewi​ ​​ ​
Name:  Jacob Liawatidewi
Title: EVP Corporate Administration Center

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