Document:

EX-10.6

 Exhibit 10.6 

iFit Health & Fitness Inc 

2021 Equity Incentive Plan 

Stock Option Award Agreement 

This Stock Option Award Agreement (this “Agreement”) is made by and between iFit Health & Fitness Inc, a Delaware
corporation (the “Company”), and              (the “Participant”), effective as of             
(the “Date of Grant”). 
 RECITALS 

WHEREAS, the Company has adopted the iFit Health & Fitness 2021 Equity Incentive Plan (as the same may be amended and/or
amended and restated from time to time, the “Plan”), which Plan is incorporated herein by reference and made a part of this Agreement, and capitalized terms not otherwise defined in this Agreement shall have the meanings ascribed to
those terms in the Plan; and 
 WHEREAS, the Committee has authorized and approved the grant to the Participant of Stock Options to
purchase shares of Common Stock (“Shares”) on the terms and conditions set forth in the Plan and this Agreement. 
 NOW
THEREFORE, in consideration of the premises and mutual covenants set forth in this Agreement, the parties agree as follows: 
  

	1.	 Grant of Stock Options. The Company has granted to the Participant, effective as of the Date of Grant,
the right and option to purchase, on the terms and conditions set forth in the Plan and this Agreement, all or any part of an aggregate of              Shares, subject to adjustment as set
forth in the Plan (the “Options”). The Options are intended to be Nonqualified Stock Options. 

  

	2.	 Exercise Price. The exercise price of each Option is
$             per Share, subject to adjustment as set forth in the Plan (the “Exercise Price”). 

 

	3.	 Vesting of Options. The Options shall be eligible to vest, if at all, on the basis of the time-vesting
criteria set forth on Schedule A attached hereto 

  

	4.	 Expiration. 

  

	 	(a)	 Termination of Service. Any unvested Options will be forfeited immediately, automatically and without
consideration upon a termination of the Participant’s Service for any reason. In the event the Participant’s Service is terminated for Cause, all vested Options will also be forfeited immediately, automatically and without consideration
upon such termination for Cause. Without limiting the generality of the foregoing, the Options and the Shares (and any resulting proceeds) will continue to be subject to the Plan. 

	 	(b)	 Any unexercised Options will expire on the tenth (10th) anniversary of the Date of Grant (the
“Expiration Date”), or earlier as provided in Section 5 of this Agreement or in the Plan. 

  

	5.	 Period of Exercise. Subject to the provisions of the Plan and this Agreement, the Participant may
exercise all or any part of the vested Options at any time prior to the earliest to occur of: 

  

	 	(a)	 the Expiration Date; 

 

	 	(b)	 the date that is twelve (12) months following termination of the Participant’s Service due to death
or Disability; 

  

	 	(c)	 the date that is ninety (90) days following an involuntary termination of the Participant’s Service
without Cause; 

  

	 	(d)	 the date that is thirty (30) days following termination of the Participant’s Service other than for
death, Disability or with or without Cause; or 

  

	 	(e)	 the date of termination of the Participant’s Service for Cause. 

 

	6.	 Exercise of Options 

 

	 	(a)	 Notice of Exercise. Subject to Sections 4 and 5, the Participant or, in the case of the
Participant’s death or Disability, the Participant’s representative may exercise all or any part of the vested Options (covering whole Shares) through a written election in a form provided by the Company (a “Notice of
Exercise”). The Notice of Exercise will be executed by the person exercising the Options. In the event that the Options are being exercised by the Participant’s representative, the Notice of Exercise will be accompanied by proof
(satisfactory to the Committee) of the representative’s right to exercise the Options. The Participant or the Participant’s representative will deliver to the Committee, at the time of giving the Notice of Exercise, payment in a form
permissible under Section 7 for the full amount of the Purchase Price (as defined below) and applicable withholding taxes as provided below. 

  

	 	(b)	 Issuance of Shares. After all requirements with respect to the exercise of the Options have been
satisfied, the Committee will cause the Shares as to which the Options have been exercised to be issued (or, in the Committee’s discretion, in un-certificated form, upon the books of the Company’s
transfer agent), registered in the name of the person exercising the Options (or in the names of such person and his or her spouse as community property or as joint tenants with right of survivorship). Neither the Company nor the Committee will be
liable to the Participant or any other Person for damages relating to any delays in issuing the Shares or any mistakes or errors in the issuance of the Shares. 

  
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	 	(c)	 Withholding Requirements. The Company shall have the power and the right to deduct or withhold
automatically from any Shares deliverable under this Agreement, or to require the Participant or the Participant’s representative to remit to the Company, the minimum statutory amount necessary to satisfy federal, state and local taxes,
domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of this Agreement, or in the sole discretion of the Committee, such greater amount necessary to satisfy the Participant’s
expected tax liability, provided that, the withholding of such greater amount does not result in adverse tax or accounting consequences to the Company (collectively, “Withheld Taxes”); provided further, that any obligations to pay
Withheld Taxes may be satisfied in the manner in which the Purchase Price is permitted to be paid under Section 7 or any other manner permitted by the Plan. 

 

	7.	 Payment for Shares. The “Purchase Price” will be the Exercise Price multiplied by the
number of Shares with respect to which Options are being exercised. All or part of the Purchase Price and any Withheld Taxes may be paid as follows: 

  

	 	(a)	 Cash or Check. In cash or by bank certified check. 

 

	 	(b)	 Brokered Cashless Exercise. To the extent permitted by the Committee, from the proceeds of a sale
through a broker on the date of exercise of some or all of the Shares to which the exercise relates. In that case, the Participant will execute a Notice of Exercise and provide the Company’s third-party Plan administrator with a copy of
irrevocable instructions to a broker to deliver promptly to the Company the amount of sale proceeds to pay the aggregate purchase price and/or Withheld Taxes, as applicable. To facilitate the foregoing, the Company may, to the extent permitted by
applicable law, enter into agreements or coordinate procedures with one or more brokerage firms. 

  

	 	(c)	 Net Exercise. To the extent permitted by the Committee, by reducing the number of Shares otherwise
deliverable upon the exercise of the Options by the number of Shares having a Fair Market Value equal to the amount of the Purchase Price and, at the sole discretion of the Committee, Withheld Taxes, as applicable. 

 

	 	(d)	 Surrender of Stock. In each instance, at the sole discretion of the Committee, by surrendering, or
attesting to the ownership of, Shares that are already owned by the Participant free and clear of any restriction or limitation, unless the Committee specifically agrees in writing to accept such Shares subject to such restriction or limitation.
Such Shares will be surrendered to the Company in good form for transfer and will be valued by the Company at their Fair Market Value on the date of the applicable exercise of the Options, or to the extent applicable, on the date the Withheld Taxes
are to be determined. The Participant will not surrender, or attest to the ownership of, Shares in payment of the Purchase Price (or Withheld Taxes) if such action would cause the Company to recognize compensation expense (or additional compensation
expense) with respect to the Options for financial reporting purposes that otherwise would not have been recognized. 

  
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	8.	 Adjustment to Options. In the event of any change with respect to the outstanding shares of Common Stock
contemplated by Section 4.3of the Plan, the Options may be adjusted in accordance with Section 4.3 of the Plan. 

  

	9.	 [Reserved.] 

  

	10.	 Miscellaneous Provisions 

 

	 	(a)	 Securities Laws Requirements. No Shares will be issued or transferred pursuant to this Agreement unless
and until all then applicable requirements imposed by federal and state securities and other laws, rules and regulations and by any regulatory agencies having jurisdiction, and by any exchanges upon which the Shares may be listed, have been fully
met. As a condition precedent to the issuance of Shares pursuant to this Agreement, the Company may require the Participant to take any reasonable action to meet those requirements. The Committee may impose such conditions on any Shares issuable
pursuant to this Agreement as it may deem advisable, including, without limitation, restrictions under the Securities Act, as amended, under the requirements of any exchange upon which shares of the same class are then listed and under any blue sky
or other securities laws applicable to those Shares. 

  

	 	(b)	 Rights of a Shareholder of the Company. Neither the Participant nor the Participant’s
representative will have any rights as a shareholder of the Company with respect to any Shares subject to the Options until the Participant or the Participant’s representative becomes entitled to receive those Shares by (i) executing a
Notice of Exercise, (ii) paying the Purchase Price and Withheld Taxes as provided in this Agreement, and the Company actually receiving those amounts, (iii) the Company issuing those Shares and entering the name of the Participant in the
register of shareholders of the Company as the registered holder of those Shares and (iv) satisfying any other conditions as the Committee reasonably requires. 

 

	 	(c)	 Transfer Restrictions. The Shares purchased by exercise of the Options will be subject to such stop
transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations and other requirements of the Securities and Exchange Commission, any stock exchange upon which such shares are listed, any
applicable federal or state laws and any agreement with, or policy of, the Company or the Committee to which the Participant is a party or subject, and the Committee may cause orders or designations to be placed upon the books and records of the
Company’s transfer agent to make appropriate reference to such restrictions. 

  

	 	(d)	 No Right to Continued Service. Nothing in this Agreement or the Plan confers upon the Participant any
right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any Subsidiary employing or retaining the Participant) or of the Participant, which rights are hereby
expressly reserved by each, to terminate his or her Service at any time and for any reason, with or without Cause. 

  
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	 	(e)	 Notification. Any notification required by the terms of this Agreement will be given by the Participant
(i) in a writing addressed to the Company at its principal executive office and will be deemed effective upon actual receipt when delivered by personal delivery or by registered or certified mail, with postage and fees prepaid, or (ii) by
electronic transmission to the Company’s e-mail address of the Company’s General Counsel and will be deemed effective upon actual receipt. Any notification required by the terms of this Agreement
will be given by the Company (x) in a writing addressed to the address that the Participant most recently provided to the Company and will be deemed effective upon personal delivery or within three (3) days of deposit with the United
States Postal Service, by registered or certified mail, with postage and fees prepaid, or (y) by facsimile or electronic transmission to the Participant’s primary work fax number or e-mail address
(as applicable) and will be deemed effective upon confirmation of receipt by the sender of such transmission. 

  

	 	(f)	 Entire Agreement. This Agreement and the Plan constitute the entire agreement between the parties hereto
with regard to the subject matter of this Agreement. This Agreement and the Plan supersede any other agreements, representations or understandings (whether oral or written and whether express or implied) that relate to the subject matter of this
Agreement. 

  

	 	(g)	 Waiver. No waiver of any breach or condition of this Agreement will be deemed to be a waiver of any
other or subsequent breach or condition whether of like or different nature. 

  

	 	(h)	 Successors and Assigns. The provisions of this Agreement will inure to the benefit of, and be binding
upon, the Company and its successors and assigns and upon the Participant, the Participant’s executor, personal representative(s), distributees, administrator, permitted transferees, permitted assignees, beneficiaries, and legatee(s), as
applicable, whether or not any such person will have become a party to this Agreement and have agreed in writing to be joined herein and be bound by the terms hereof. 

 

	 	(i)	 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, then the remaining provisions will nevertheless be binding and enforceable. 

  

	 	(j)	 Amendment. Except as otherwise provided in the Plan, this Agreement will not be amended unless the
amendment is agreed to in writing by both the Participant and the Company. 

  
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	 	(k)	 Choice of Law; Jurisdiction. This Agreement and all claims, causes of action or proceedings (whether in
contract, in tort, at law or otherwise) that may be based upon, arise out of or relate to this Agreement will be governed by the internal laws of the State of Delaware, excluding any conflicts or choice-of-law rule or principle that might otherwise refer construction or interpretation of this Agreement to the substantive law of another jurisdiction. 

 

	 	(l)	 Signature in Counterparts. This Agreement may be signed in counterparts, manually or electronically,
each of which will be an original, with the same effect as if the signatures to each were upon the same instrument. 

  

	 	(m)	 Acceptance. The Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. The
Participant has read and understands the terms and provisions of the Plan and this Agreement, and accepts the Options subject to all of the terms and conditions of the Plan and this Agreement. In the event of a conflict between any term or provision
contained in this Agreement and a term or provision of the Plan, the applicable term and provision of the Plan will govern and prevail. 

[Signature page follows.] 

  
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 IN WITNESS WHEREOF, the Company and the Participant have executed this Stock Option Award
Agreement as of the dates set forth below. 
  

									
	Participant	 		 	iFit Health & Fitness Inc
					
		 	 	 		 	By:	 	 
					
	Date:	 	 	 		 	Date:	 	 

 Schedule A 

Time-Based Options Vesting Schedule 

[Unless earlier terminated or forfeited in accordance with the terms of this Agreement and the Plan, the Option will vest, if at all, in
accordance with the provisions of this Schedule A: 
 The Option shall vest as to 25% on the first anniversary of the date of grant and in equal
quarterly installments over the 36 months following the first anniversary. ]1 

 

	1 	 With respect to the stock options granted to Steve Barr in connection with our offering (the “IPO
Grant”), 25% of the options underlying the IPO grant are fully vested as of the date of grant, with the remaining 75% of the options underlying the IPO Grant vesting quarterly over the subsequent 36 months.EX-10.7

 Exhibit 10.7 

RESTRICTED PROPERTY AWARD AGREEMENT 

This RESTRICTED PROPERTY AWARD AGREEMENT (this “Agreement”) is dated as of [Date] (the “Effective
Date”), by and among Scott Watterson (“Executive”), and IFIT HEALTH & FITNESS INC (the “Issuer”). Capitalized terms used in this Agreement but not defined in the body hereof have
the meanings assigned to them in the IFIT HEALTH & FITNESS INC. 7.0% Notes, Due [DATE], 2027 attached hereto (the “Convertible Note”). 

WHEREAS, in connection with the initial public offering of the Issuer and pursuant to the Omnibus Investors Agreement dated as of [the
date hereof], the Issuer has determined to issue the Convertible Note; and 
 WHEREAS, subject to the terms and conditions set forth
in this Agreement and pursuant to applicable securities laws, the Issuer desires to grant to Executive and Executive desires to accept from the Issuer, a forfeitable interest in the Convertible Note subject to the terms hereof. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
 1. Grant of Restricted Property. The Issuer hereby
grants to Executive a restricted interest in the Convertible Note (the “Restricted Property”) subject to the terms of the Convertible Note and the terms hereof. In the event of any conflict between the terms of the
Convertible Note and the terms hereof, the terms hereof shall control. 
 2. Forfeiture Restrictions; Definitions. 

(a) The Restricted Property is restricted in the sense that (a) Executive may not sell, assign, pledge, exchange, hypothecate or otherwise
transfer or dispose of the Restricted Property pursuant to Section 14.01 of the Convertible Note or otherwise, and (b) Executive’s right to retain the Restricted Property is subject to forfeiture (collectively, the
“Forfeiture Restrictions”). Subject to Section 2(c) hereof, in the event Executive’s employment or service with the Issuer or a subsidiary in every employment and service provider capacity is terminated for any
reason prior to the lapse of the Forfeiture Restrictions, whether by the Issuer or a subsidiary or by himself, Executive shall, for no consideration, forfeit to the Issuer the Restricted Property, The Forfeiture Restrictions shall lapse on the
earlier of (i) the date of a Liquidity Event; and (ii) the six (6) year anniversary of the date hereof; provided, however, that the Restricted Property will remain subject to any restrictions in the Convertible Note
notwithstanding any lapse of the Forfeiture Restrictions. During the period of applicability of the Forfeiture Restrictions, Executive shall have no rights of a Holder under the Convertible Note, including rights under Section 4.01
(Conversion by the Holder) (except as expressly provided herein) and rights under Section 11.02 (Acceleration) of the Convertible Note. 
 (b)
“Liquidity Event” shall mean the date of: 
 (i) Mandatory Conversion by the Issuer; 

 

 (ii) Conversion or transfer of all Notes held by Pamplona, L Catterton and their respective Permitted
Transferees; 
 (iii) Notice by the Issuer of an optional prepayment of the Notes in full pursuant to Section 5.01 of the Convertible Note; 

(iv) The occurrence of a Mandatory Prepayment Event; 
 (v) Closing
of Sale by all Tag-Along Offerees of all Notes pursuant to Section 14.02 of the Convertible Note; or 
 (vi)
Acceleration (that is not rescinded) by the Required Noteholders pursuant to Section 11.02 of the Convertible Note. 
 Provided,
however, that with respect to the events listed in Sections 2(b)(i), (iii) and (iv), such events shall only be treated as Liquidity Events if all actions underlying the event are approved by an independent committee of the board of directors
of the Issuer. 
 (c) Notwithstanding the foregoing, in the event Executive’s employment or service with the Issuer or a subsidiary is terminated
(i) by the Issuer or a subsidiary without Cause, or (ii) by reason of Executive’s death, the Forfeiture Restrictions shall lapse and the Restricted Property shall transfer to Executive (or his estate, as applicable) on the date of
termination but in any event no later than March 15 of the year following the date of termination. For purposes of this Agreement, “Cause” shall mean one of the following events: (A) Executive’s willful misconduct or gross
negligence; (B) the commission of a criminal act by Executive against the Issuer or a subsidiary involving material harm (whether or not charges are filed); (C) the commission by Executive of a criminal act of moral turpitude bringing the
Issuer or a subsidiary into disrepute (whether or not charges are filed); (D) willful insubordination to any directive of the board of directors of Issuer provided reasonable prior notice of such directive is given; or (E) actions by Executive
constituting material breach of any employment agreement or similar service agreement between Executive and the Issuer or a subsidiary. 
 3.
Impact of Other Events. 
 (a) Reorganization Event. A Reorganization Event shall have no impact on the Forfeiture Restrictions and
such restrictions shall continue to apply to the Restricted Property as it may be converted into Exchange Property consistent with the terms of the Convertible Note. 

(b) Interest or Distributions. Interest Payments made in respect of the Restricted Property pursuant to the Convertible Note shall be deemed to be paid
in the form of Common Stock (or Exchange Property, as the case may be), and any such Interest Payments or any other dividend or distribution on the Convertible Note shall accrete to the Restricted Property and be subject to the Forfeiture
Restrictions while such restrictions remain in effect. Upon any notice by the Issuer of an optional prepayment of the Notes in part pursuant to Section 5.01 of the Convertible Note, or upon a payment of the Convertible Notes at maturity, if in
each case there has been no prior Liquidity Event, the Executive shall be required to take such payment in Common Stock if the 10-day VWAP is equal to or greater than the Conversion Price at such time (and the
Executive shall be treated as having given an applicable notice), and any such Common Stock (or cash if such condition is not satisfied) shall constitute part of the Restricted Property 

  
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and be subject to the Forfeiture Restrictions, if and to the extent such restrictions remain in effect. For the avoidance of doubt, if the Forfeiture Restrictions lapse on the six (6) year
anniversary of the date hereof and therefore coincide with the maturity of the Convertible Note, the Executive shall be entitled to convert the Convertible Note pursuant to Section 4.01 thereof on such date prior to a repayment at maturity.

 4. Representations and Warranties. Executive has the legal capacity to enter into this Agreement, this Agreement constitutes a valid
and binding obligation of Executive and the execution, delivery and performance of this Agreement by Executive does not and will not conflict with, violate or cause a breach of any agreement, contract, judgment, order, decree or other instrument to
which Executive is a party or is otherwise bound. 
 5. Taxation and Tax Withholding. 

(a) No Section 83(b) Election. Executive agrees not to file an election under Section 83(b) of the Internal Revenue Code of
1986, as amended (the “Code”), to be taxed with respect to the Restricted Property as of the date of transfer of the Restricted Property rather than as of the date upon which the Executive would otherwise be taxed under
Section 83(a) of the Code. 
 (b) Tax Withholding. Notwithstanding any other provision of this Agreement, the Issuer has the authority to deduct
or withhold, or require Executive to remit to the Issuer, an amount sufficient to satisfy applicable federal, state, local and foreign taxes (including the employee portion of any FICA obligation) required by law to be withheld with respect to any
taxable event arising pursuant to this Agreement.
 6. Miscellaneous Provisions. 

(a) No Guarantee of Employment. Executive agrees that no provision contained in this Agreement shall entitle the Executive to remain an employee or
service provider of, or otherwise be affiliated with, the Issuer for any particular period of time or affect in any way the right of the Issuer to terminate any such employment, service relationship or affiliation at any time. Any question as to
whether and when there has been a termination of any such employment, and the cause of such termination, shall be determined by the Compensation Committee of the board of directors of the Issuer (or another independent committee of the board of
directors, if so determined by the board of directors of the Issuer) in its sole discretion and such determination shall be final, conclusive and binding on all Persons. 

(b) Notices. For purposes of this Agreement, notices and all other communications provided for herein shall be in writing and shall be deemed to have
been duly given when personally delivered, telecopied and confirmed, or when mailed by certified mail, return receipt requested, or by nationally recognized overnight delivery service with proof of receipt maintained, at the following addresses (or
any other address that any party may designate by written notice to the other party, in accordance herewith, except that such notice shall be effective only upon receipt): 

  
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 If to the Issuer,
to:             c/o iFIT Health & Fitness Inc 
 1500 South
1000 West 
 Logan, Utah 84321 

Email: everett@ifit.com 

Attention: General Counsel 

with a copy to: 
 Weil,
Gotshal & Manges, LLP 
 767 5th Ave. 

New York, New York 10153 

Email: Corey.Chivers@weil.com 

Attention: Corey Chivers 
 If
to the Executive, to:      Scott Watterson 
 Email: swatterson@iconfitness.com    

 Any such notice shall, if delivered personally, be deemed received upon delivery; shall, if delivered by telecopy, be deemed received on the first
business day following confirmation; shall, if delivered by nationally recognized overnight delivery service, be deemed received the first business day after being sent; and shall, if delivered by mail, be deemed received upon the earlier of actual
receipt thereof or five business days after the date of deposit in the United States mail.  
 (c) Governing Law; Waiver of Jury Trial.
THIS AGREEMENT IS GOVERNED BY AND SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES OF SUCH STATE. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY
JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.  
 (d) Amendment and Waiver. The
provisions of this Agreement may be amended, modified or waived only with the prior written consent of the Issuer and Executive, and no course of conduct or failure or delay in enforcing the provisions of this Agreement shall be construed as a
waiver of such provisions or affect the validity, binding effect or enforceability of this Agreement or any provision hereof. Any amendment, modification or waiver, or the resolution of any dispute or question arising under this Agreement must be
approved on behalf of the Issuer by the Compensation Committee of the board of directors of the Issuer (or another independent committee of the board of directors, if so determined by the board of directors of the Issuer). 

(e) Severability. If any provision of this Agreement is held to be illegal or invalid for any reason, the illegality or invalidity shall not affect the
remaining provisions hereof, but such provision shall be fully severable and this Agreement shall be construed and enforced as if the illegal or invalid provision had never been included herein. 

(f) Entire Agreement. This Agreement and the Convertible Note embody the complete agreement and understanding among the parties hereto with respect to
the subject matter hereof and supersede and preempt any prior understandings, agreements or representations by or among the parties, written or oral, which may have related to the subject matter hereof in any way. 

  
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 (g) Counterparts; Construction. This Agreement may be executed in one or more counterparts, each of
which shall be deemed to be an original, but all of which together shall constitute one and the same Agreement. The paragraph headings have been inserted for purposes of convenience and shall not be used for interpretive purposes. Whenever the
context may require, any pronouns used herein shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural and vice versa. Where specific language is used to clarify by
example a general statement contained herein, such specific language shall not be deemed to modify, limit or restrict in any manner the construction of the general statement to which it relates. The language used in this Agreement shall be deemed to
be the language chosen by the parties to express their mutual intent, and no rule of strict construction shall be applied against any party. 
 (h)
Successors and Assigns. Except as otherwise provided herein, this Agreement shall bind and inure to the benefit of and be enforceable by and against the Issuer, Executive and their respective successors, assigns, heirs, representatives and
estates, as the case may be; provided, that the rights and obligations of Executive under this Agreement shall not be assignable except in connection with a transfer of the Restricted Property following the lapse of the Forfeiture
Restrictions, but only to the extent permitted under the Convertible Note. 
 (i) Rights of Third Parties. Nothing expressed or implied in this
Agreement is intended or shall be construed to confer upon or give any Person, other than the parties hereto, any rights or remedies under or by reason of this Agreement. 

(j) Survival of Representations, Warranties and Agreements. All representations, warranties and agreements contained herein shall survive the
consummation of the transactions contemplated hereby and the termination of this Agreement. 
 (k) Waiver of Punitive and Exemplary Damage Claims.
EACH PARTY, BY EXECUTING THIS AGREEMENT, WAIVES, TO THE FULLEST EXTENT ALLOWED BY LAW, ANY CLAIMS TO RECOVER PUNITIVE, EXEMPLARY OR SIMILAR DAMAGES NOT MEASURED BY THE PREVAILING PARTY’S ACTUAL DAMAGES IN ANY DISPUTE OR CONTROVERSY ARISING
UNDER, RELATING TO OR IN CONNECTION WITH THIS AGREEMENT. 

  
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 IN WITNESS WHEREOF, the parties have executed this Agreement effective as of
Effective Date. 
  

	
	IFIT HEALTH & FITNESS INC
	
	  

	Name:
	Title:
	
	EXECUTIVE
	
	  

	Scott Watterson

  
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