Document:

EX-10.25

 Exhibit 10.25 

CORE SCIENTIFIC, INC. 

RESTRICTED STOCK UNIT AWARD AGREEMENT 

THIS RESTRICTED STOCK UNIT AWARD AGREEMENT (this “Award Agreement”) is made effective as of August , 2018 (the “Grant
Date”) by and between Core Scientific, Inc. a Delaware corporation (the “Company”), and __________ (the “Grantee”). Capitalized terms used but not defined herein shall have the meanings ascribed to such
terms in the Core Scientific (f/k/a MineCo Holdings, Inc.) 2018 Omnibus Incentive Plan (the “Plan”). 
 R E C I T A L
S: 
 WHEREAS, the Board of Directors of the Company (the “Board”) has determined that it would be in the best
interests of the Company and its stockholders to grant the restricted stock units provided for herein to the Grantee pursuant to the terms set forth herein. 

NOW THEREFORE, in consideration of the mutual covenants hereinafter set forth, the parties agree as follows: 

 

	1.	 Number of Restricted Stock Units Subject to this Award: ____ (“RSUs”)

  

	2.	 Vesting Commencement Date: ____ 

 

	3.	 Vesting: The RSUs shall be subject to both a time vesting condition and a transaction-based vesting
condition as set forth in clauses (i) and (ii) below. 

  

	(i)	 Time-Vesting Condition. Twenty five percent (25%) of the RSUs shall time vest on the first anniversary
of the Vesting Commencement Date and seventy five percent (75%) of the RSUs shall time vest in equal monthly installments at the end of each full month thereafter until the fourth (4th) anniversary of the Vesting Commencement, subject to the
Grantee’s continued Service with the Company on each applicable time vesting date (“Time Vesting Condition”). 

  

	(ii)	 Transaction-based Vesting Condition. The RSUs shall transaction-based vest upon the earlier of a Change
in Control or the initial Public Offering of equity securities of the Company (“Transaction-based Vesting Condition”). 

Both the Time Vesting Condition and the Transaction-based Vesting Condition must be satisfied in order for the RSUs to vest. 

 

	4.	 Termination of Service 

If the Grantee’s service is terminated for Cause or the Grantee breaches any restrictive covenants in favor of the Company to which the
Grantee is a party, all vested and unvested RSUs and any Shares received in connection with the settlement of RSUs shall be forfeited. 
 In
the event the Grantee’s Service is terminated for any reason other than for Cause, any RSUs that have not satisfied the Time Vesting Condition as of the date of such termination shall be forfeited; provided that if the Grantee’s Service is
terminated by the Company without Cause prior to the first (1st) anniversary of the Vesting Commencement Date, 25% of the RSUs shall be deemed to have satisfied the Time Vesting Condition on the date of such termination and if the Grantee’s
Service is terminated by the Company without Cause following the first (1st) anniversary of the Vesting Commencement Date, the RSUs scheduled to vest on the next monthly vesting date shall be deemed to have satisfied the Time Vesting Condition on
the date of such termination. The RSUs that have satisfied the Time Vesting Condition as of the date of such termination, after giving effect to this Section 4, (the “Time Vested RSUs”) shall remain outstanding and eligible to vest
for three (3) years following the date of such termination. If the Time Vested RSUs satisfy the Transaction-based Vesting Condition on or prior to the third (3rd) anniversary of the date of termination

  
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of the Grantee’s Service, such RSUs shall be settled in accordance with Section 5 or if the Time Vested RSUs do not satisfy the Transaction-based Vesting Condition on or prior to the
third (3rd) anniversary of the date of termination of the Grantee’s Service, the Time Vested RSUs shall be immediately forfeited for no consideration on such third (3rd) anniversary. 

For purposes of this Award Agreement, “Service” shall mean, the Grantee’s service as an employee, director, advisor, consultant
or independent contractor with the Company or a Subsidiary. 
  

	5.	 Settlement of Restricted Stock Units 

 

	(i)	 Settlement Schedule. The vested RSUs shall be settled in accordance with the terms of the Plan within
thirty (30) days following the date on which such RSUs vest (the “Settlement Date”). 

  

	(ii)	 Conversion of RSUs and Issuance of Shares. Upon settlement, one share of Common Stock shall be issuable for
each vested RSU (the “Settlement Shares”) subject to the terms and provisions of the Plan and this Award Agreement. Prior to the issuance of any Settlement Shares, Grantee shall enter into a joinder to the Company’s shareholder
agreement or other similar agreement in a form to be provided by the Company under which the Settlement Shares will be subject to transfer restrictions, voting agreements and other obligations to be provided therein. No fractional shares shall be
issued under this Award Agreement. 

  

	(iii)	 Right to Settlement Shares. Grantee shall not have any right in, to or with respect to any of the Settlement
Shares (including any voting rights) issuable under the Award until the Award is settled by the issuance of such Settlement Shares to Grantee. 

  

	(iv)	 Award is Unfunded. By entering into this Award Agreement and accepting the Award, Grantee acknowledges that the
Company has not formally funded the award of RSUs and that Grantee is considered a general unsecured creditor of the Company with respect to such award. 

  

	6.	 No Right to Continued Service. The granting of the RSUs evidenced hereby and this Award Agreement shall
impose no obligation on the Company or any Affiliate to continue the Service of the Grantee and shall not lessen or affect any right that the Company or any Affiliate may have to terminate the Service of such Grantee. 

 

	7.	 Taxes. Grantee is ultimately liable and responsible for all taxes owed in connection with the Award,
regardless of any action the Company or any of its Affiliates takes with respect to any tax withholding obligations that arise in connection with the Award. Neither the Company nor any of its Affiliates makes any representation or undertaking
regarding the treatment of any tax withholding in connection with the grant or vesting of the Award or the subsequent sale of Shares issuable pursuant to the Award. The Company and its Affiliates do not commit to structure the Award to reduce or
eliminate Grantee’s tax liability, and are under no obligation to do so. Prior to the issuance of any Settlement Shares, the Grantee shall be required to pay to the Company or its Affiliates, and the Company and its Affiliates shall have the
right and are hereby authorized to withhold, any applicable withholding taxes in respect of the RSUs or any payment or transfer under or with respect to the RSUs and to take such other action as may be necessary in the opinion of the Committee to
satisfy all obligations for the payment of such withholding taxes. If the Grantee has not paid the required minimum applicable tax withholding amount to the Company, as determined by the Company, within thirty (30) days following the applicable
Settlement Date, the RSUs and any Settlement Shares issuable thereunder shall be forfeited for no consideration. The minimum applicable tax withholding amount may be paid by the Grantee as follows: (i) in cash or by check, bank draft or money
order payable to the order of the Company; (ii) solely to the extent permitted by applicable law, if the Common Stock is traded on a national securities exchange, through a procedure whereby the Grantee delivers irrevocable instructions to a
broker reasonably acceptable to the Committee to deliver promptly to the Company an amount equal to the applicable tax withholding amount; or (iii) to the extent permitted by the Committee in its sole discretion, by having Common Stock
otherwise deliverable to the Grantee in respect of the RSUs with a Fair Market Value equal to the minimum applicable tax withholding amount, withheld by the Company. 

  
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	8.	 Legends. Grantee acknowledges that, unless a registration statement shall then be in effect covering the
resale of the Settlement Shares, any certificate representing the Settlement Shares shall bear the following legend: 

“THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “ACT”), AND MAY NOT BE OFFERED, SOLD, ASSIGNED, PLEDGED, HYPOTHECATED, TRANSFERRED OR OTHERWISE DISPOSED OF (EACH, A “TRANSFER”) UNLESS REGISTERED UNDER THE ACT AND ANY APPLICABLE STATE
SECURITIES LAWS OR UNLESS SUCH TRANSFER IS (A) EXEMPT FROM REGISTRATION OR IS OTHERWISE IN COMPLIANCE WITH THE ACT AND SUCH LAWS IN THE OPINION OF COUNSEL TO THE SHAREHOLDER, WHICH COUNSEL MUST BE, AND THE FORM AND SUBSTANCE OF WHICH OPINION
ARE, REASONABLY SATISFACTORY TO THE ISSUER AND (B) IN COMPLIANCE WITH THE TERMS OF THE COMPANY’S CERTIFICATE OF INCORPORATION AND ANY AMENDMENTS, SUPPLEMENTS OR MODIFICATIONS THERETO.” 

Unless a Public Offering shall have been consummated, any certificate representing the Settlement Shares shall bear the following additional legend: 

“The anticipation, alienation, attachment, sale, transfer, assignment, pledge, encumbrance or charge of the shares of stock represented
hereby are subject to the terms and conditions (including forfeiture) of the Core Scientific, Inc. (the “Company”) 2018 Omnibus Incentive Plan (the “Plan”) and an Agreement entered into between the registered owner
and the Company dated _______ Copies of such Plan and Agreement are on file at the principal office of the Company.” 
  

	9.	 Restriction on Sale upon Public Offering. Grantee agrees that, in the event the Company files a
registration statement or other offering statement in connection with a Public Offering, Grantee will not, without the prior written consent of the Company, effect any public sale or distribution of any of the Settlement Shares (other than as part
of such Public Offering), including but not limited to pursuant to Rule 144 or Rule 144A under the Securities Act, for the duration (not to exceed 20 days prior to and the 180 days after the effective date of such registration statement or offering
statement) specified by and to the extent requested by the Company and an underwriter or sales agent of the Common Stock or other securities of the Company at any time during such period except Common Stock (or other securities) included in such
registration or qualified offering; provided, however, that (i) all officers and directors of the Company and all persons with registration rights with respect to the Company’s capital stock enter into similar agreements; and (ii) the
restrictions applicable to Grantee are no more restrictive than those applicable to any other shareholder, director or officer of the Company. Grantee further understands and acknowledges that any sale, transfer or other disposition of the
Settlement Shares by Grantee following a Public Offering will be subject to compliance with, and may be limited under, the federal securities laws and/or state “blue sky” laws. 

 

	10.	 Registration. As soon as practicable following a Public Offering, the Company shall use its commercially
reasonable efforts to effect the registration under the Securities Act of all of the Shares evidenced hereby, to the extent such Shares are eligible for registration on Form S-8 (or other applicable form for
registration relating to the sale of securities to employees or other service providers in a Company equity incentive plan). 

  

	11.	 Section 409A. The intent of the parties is that payments or issuance of Settlement
Shares under this Award Agreement comply with or be exempt from Section 409A of the Code and, accordingly, to the maximum extent permitted, this Award Agreement shall be interpreted to be in compliance therewith or exempt therefrom, as
applicable. If any other payments due or issuance of Settlement Shares to the Grantee hereunder could cause the application of an accelerated or additional tax under Section 409A of the Code, the Company may (i) adopt such amendments to
the Award Agreement, including amendments with retroactive effect, that the Company determines necessary or appropriate to preserve the intended tax treatment of the payments or issuance of Settlement Shares provided by the Award Agreement and/or
(ii) take such other actions as the 

  
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Company determines necessary or appropriate to comply with the requirements of Section 409A. A termination of Service shall not be deemed to have occurred for purposes of this Award
Agreement providing for the payment of any amounts or issuance of Settlement Shares that are considered nonqualified deferred compensation under Section 409A upon or following a termination of employment, unless such termination is also a
“separation from service” within the meaning of Section 409A and the payment or issuance thereof prior to a “separation from service” would violate Section 409A. For purposes of any such provision of this Award
Agreement relating to any such payment or issuance, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.” If the Grantee is deemed on the date of termination to
be a “specified employee” within the meaning of that term under Section 409A(a)(2)(B), then, notwithstanding any other provision herein, with regard to any payment or issuance of Settlement Shares that is considered nonqualified
deferred compensation under Section 409A payable on account of a “separation from service,” such payment or issuance shall not be made or provided prior to the date which is the earlier of (A) the expiration of the six-month period measured from the date of such “separation from service” of the Grantee, and (B) the date of the Grantee’s death (the “Delay Period”). Upon the expiration of the
Delay Period, all payments or issuances of Settlement Shares delayed pursuant to this Section 11 (whether they would have otherwise been payable in a single lump sum or in installments in the absence of such delay) shall be paid to the Grantee
in a lump sum or issued to the Grantee on the first business day following the Delay Period, and any remaining payments or issuances due under this Award Agreement shall be paid or issued in accordance with the normal payment dates specified for
them herein. Nothing contained in this Award Agreement shall constitute any representation or warranty by the Company regarding compliance with Section 409A. The Company has no obligation to take any action to prevent the assessment of any
additional income tax, interest or penalties under Section 409A on any person and the Company, its subsidiaries and affiliates, and each of their employees and representatives shall not have any liability to the Grantee with respect thereto.

  

	12.	 Limitation on Rights; No Right to Future Grants; Extraordinary Item. By entering into this Award
Agreement and accepting the Award, Grantee acknowledges that: (i) the Plan is discretionary and may be modified, suspended or terminated by the Company at any time as provided in the Plan; (ii) the grant of the Award is a one-time benefit and does not create any contractual or other right to receive future grants of awards or benefits in lieu of awards; (iii) all determinations with respect to any such future grants, including
but not limited to the times when awards will be granted, the number of shares subject to each award, the award price, if any, and the time or times when each award will be settled, will be at the sole discretion of the Company;
(iv) Grantee’s participation in the Plan is voluntary; (v) the Award is not part of normal or expected compensation for any purpose; (vi) the future value of the Common Stock subject to the Award is unknown and cannot be
predicted with certainty; (vii) neither the Plan, the Award nor the issuance of the Shares confers upon Grantee any right to continue to provide services to the Company or an Affiliate; and (viii) the grant of the Award will not be
interpreted to form an employment relationship with the Company or any Affiliate. 

  

	13.	 Miscellaneous. 

 

	(i)	 Entire Agreement. The Award Agreement (including the Plan and the Company’s shareholders agreement)
constitute the entire contract between the parties hereto with regard to the subject matter hereof. They supersede any other agreements, representations or understandings (whether oral or written and whether express or implied) which relate to the
subject matter hereof. 

  

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

  

	(iii)	 Successors and Assigns. The provisions of this Award Agreement shall inure to the benefit of, and be
binding upon, the Company and its successors and assigns and upon the Grantee, the Grantee’s assigns and the legal representatives, heirs and legatees of the Grantee’s estate, whether or not any such person shall have become a party to
this Award Agreement and have agreed in writing to be joined herein and be bound by the terms hereof. 

  
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	(iv)	 Choice of Law. THE VALIDITY, CONSTRUCTION, INTERPRETATION, ADMINISTRATION AND EFFECT OF THE PLAN, AND OF
ITS RULES AND REGULATIONS, AND RIGHTS RELATING TO THE PLAN AND TO THIS AWARD AGREEMENT, SHALL BE GOVERNED BY THE SUBSTANTIVE LAWS, BUT NOT THE CHOICE OF LAW RULES, OF THE STATE OF DELAWARE. 

 

	(v)	 Mutual Waiver of Jury Trial. TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM AND
OF ARBITRATION, EACH PARTY TO THIS AWARD AGREEMENT HEREBY WAIVES ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE BETWEEN OR AMONG ANY OF THE PARTIES HERETO, WHETHER ARISING IN CONTRACT, TORT, OR
OTHERWISE, ARISING OUT OF, CONNECTED WITH, RELATED OR INCIDENTAL TO THIS AWARD AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY AND/OR THE RELATIONSHIP ESTABLISHED AMONG THE PARTIES HEREUNDER. 

 

	(vi)	 Amendment. The Committee may amend or alter this Award Agreement and the RSUs granted hereunder at any
time; provided that, no such amendment or alteration shall be made without the consent of the Grantee if such action would materially diminish any of the rights of the Grantee under this Award Agreement or with respect to the RSUs. The Board may
amend the Company’s shareholder agreement without the consent of the Grantee, whether before or after the Grantee becomes a party thereto. 

  

	(vii)	 Severability. The provisions of this Award 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. 

  

	(viii)	 Signature in Counterparts. This Award Agreement may be signed in counterparts, each of which shall be an
original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 

*    * * 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Restricted Stock Unit Award
Agreement as of the date first written above. 
  

			
	 CORE SCIENTIFIC, INC.

		
	By:	 	  

  

	
	 Agreed and acknowledged as
 of the date first
above written:
  

	  
 GRANTEE

 [Signature Page to RSU Award Agreement]EX-10.26

 Exhibit 10.26 

FORM OF OPTION AWARD AGREEMENT – ADVISOR 

CORE SCIENTIFIC, INC. 

NONQUALIFIED OPTION AWARD AGREEMENT 

THIS NONQUALIFIED OPTION AWARD AGREEMENT (this “Award Agreement”), is made effective as of (the “Grant
Date”), by and between Core Scientific, Inc., a Delaware corporation (the “Company”), and (the “Grantee”). Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Core
Scientific (f/k/a MineCo Holdings, Inc.) 2018 Omnibus Incentive Plan (the “Plan”). 
 R E C I T A L S 

WHEREAS, the Board of Directors of the Company (the “Board”) has determined that it would be in the best interests of the Company
and its stockholders to grant the nonqualified stock options provided for herein to the Grantee pursuant to the terms set forth herein. 

NOW THEREFORE, in consideration of the mutual covenants hereinafter set forth, the parties agree as follows: 

1. Grant of the Option. The Company hereby grants to the Grantee the right and option to purchase, on the terms and conditions set forth in the Plan
and this Award Agreement, shares of Common Stock (the “Options”), subject to adjustment as set forth in the Plan. At any time, the portion of the Option that has become vested and exercisable is hereinafter referred to as the
“Vested Portion,” and any portion of the Option that is not a Vested Portion is hereinafter referred to as the “Unvested Portion.” 

2. Option Price. The purchase price of a share of Common Stock subject to the Options shall be $____ per share of Common Stock (the “Option
Price”), subject to adjustment as set forth in the Plan. 
 3. Vesting and Forfeiture. 

a. Subject to Section 3(b) hereof, twenty five percent (25%) of the Options shall vest on the first
anniversary of the Vesting Commencement Date and seventy five percent (75%) of the Options shall vest in equal monthly installments at the end of each full calendar month thereafter until the fourth (4th) anniversary of the Vesting Commencement
Date, subject to the Grantee’s continued Service with the Company on each applicable vesting date. “Vesting Commencement Date” shall mean ____. 

b. In the event the Grantee’s Service is terminated for any reason or no reason prior to a vesting date, any unvested Options as
of the date of such termination shall be forfeited; provided that if the Grantee’s Service is terminated without Cause prior to the first (1st) anniversary of the Vesting Commencement Date, 25% of the Options shall vest on the date of such
termination and if the Grantee’s Service is terminated without Cause following the first (1st) anniversary of the Vesting Commencement Date, the Options scheduled to vest on the next monthly
vesting date shall vest on the date of such termination. If the Grantee’s service is terminated for Cause or the Grantee breaches any restrictive covenants in favor of the Company to which the Grantee is a party, all vested and unvested Options
and any Shares received in connection with the exercise of Options shall be forfeited. For purposes of this Award Agreement, “Service” shall mean, the Grantee’s service as an employee, director, advisor, consultant or independent
contractor with the Company or a Subsidiary. 
 c. Any unexercised portion of the Option shall expire upon the tenth anniversary of
the Grant Date. 

 4. Period of Exercise. Subject to the provisions of the Plan and this Award Agreement, the Grantee
may exercise all or any part of the Vested Portion at any time prior to the earliest to occur of: 
 a. the tenth anniversary of the
Grant Date; 
 b. the date that is 12 months following termination of the Grantee’s Service due to death or Disability; and 

c. the date that is 30 days following termination of the Grantee’s Service for any other reason. 

5. Exercise Procedures. 
 a. Notice of
Exercise. Subject to Section 4 hereof, the Vested Portion may be exercised by delivering to the Company at its principal office written notice of intent to so exercise in the form attached hereto as Exhibit A
(such notice, a “Notice of Exercise”). Such Notice of Exercise shall be accompanied by payment in full of the aggregate Option Price for the share of Common Stock to be acquired upon exercise. In the event the Options are being
exercised by the Grantee’s representative, the Notice of Exercise shall be accompanied by proof (satisfactory to the Committee) of the representative’s right to exercise the Options. The aggregate Option Price for the shares of Common
Stock to be exercised shall be paid (i) in cash or its equivalent (e.g., by cashier’s check) or (ii) at the Committee’s discretion, by net withholding of shares of Common Stock subject to the Options with a Fair Market Value
equal to the aggregate Option Price for the Shares to be acquired upon exercise, or (iii) in any other manner permitted by the Committee in accordance with the provisions of the Plan. 

b. Rights of Grantee; Method of Exercise. Neither the Grantee nor the Grantee’s representative shall have any rights to dividends,
voting rights or other rights of a stockholder with respect to shares of Common Stock subject to the Options until (i) the Grantee has given a Notice of Exercise of the Options and paid in full for such shares of Common Stock, (ii) such
shares of Common Stock have been issued, (iii) the Grantee has executed a joinder to the Company’s shareholder agreement or other similar agreement in a form to be provided by the Company under which the shares of Common Stock will be
subject to transfer restrictions, voting agreements and other obligations to be provided therein, and (iv) if applicable, the Grantee has satisfied any other conditions imposed by the Committee pursuant to the Plan. In the event of the
Grantee’s death, the Vested Portion shall be exercisable by the executor or administrator of the Grantee’s estate or the person or persons to whom the Grantee’s rights under this Award Agreement shall pass by will or by the laws of
descent and distribution, as the case may be. Any heir or legatee of the Grantee shall take rights herein granted subject to the terms and conditions of this Award Agreement and the Plan. 

6. No Right to Continued Service. The granting of the Options shall impose no obligation on the Company or any Affiliate to continue the Service of the
Grantee and shall not lessen or affect any right that the Company or any Affiliate may have to terminate the Service of the Grantee. 
 7.
Withholding. Grantee shall be solely responsible for the payment and withholding of all income, employment and other taxes attributable to Grantee under this Award Agreement, and Grantee shall timely remit all taxes to the Internal Revenue
Service and any other required governmental agencies. The Grantee further acknowledges and agrees that, during and after the Grantee’s termination of Service, Grantee will indemnify, defend and hold the Company harmless from all taxes,
interest, penalties, fees, damages, liabilities, obligations, losses and expenses arising from a failure or alleged failure to make the required reports and payments for income taxes. 

8. Transferability. Unless otherwise determined by the Committee, the Grantee shall not be permitted to transfer or assign the Option except in the
event of death and in accordance with Section 6.4(e) of the Plan. 
 9. Adjustment of Option. Adjustments to the Options (or any shares of
Common Stock underlying the Option) shall be made in accordance with the terms of the Plan. 
 10. Option Subject to Plan. By entering into this
Award Agreement the Grantee agrees and acknowledges that the Grantee has received and read a copy of the Plan. The Option is subject to the terms and conditions of the Plan. In the event of a conflict between any term hereof and a term of the Plan,
the applicable term of the Plan shall govern and prevail. 

 11. Legends. Grantee acknowledges that, unless a registration statement shall then be in effect
covering the resale of shares of Common Stock, any certificate representing the shares of Common Stock shall bear the following legend: 

“THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “ACT”), AND MAY NOT BE OFFERED, SOLD, ASSIGNED, PLEDGED, HYPOTHECATED, TRANSFERRED OR OTHERWISE DISPOSED OF (EACH, A “TRANSFER”) UNLESS REGISTERED UNDER THE ACT AND ANY APPLICABLE STATE
SECURITIES LAWS OR UNLESS SUCH TRANSFER IS (A) EXEMPT FROM REGISTRATION OR IS OTHERWISE IN COMPLIANCE WITH THE ACT AND SUCH LAWS IN THE OPINION OF COUNSEL TO THE SHAREHOLDER, WHICH COUNSEL MUST BE, AND THE FORM AND SUBSTANCE OF WHICH OPINION
ARE, REASONABLY SATISFACTORY TO THE ISSUER AND (B) IN COMPLIANCE WITH THE TERMS OF THE COMPANY’S CERTIFICATE OF INCORPORATION AND ANY AMENDMENTS, SUPPLEMENTS OR MODIFICATIONS THERETO.” 

Unless a Public Offering shall have been consummated, any certificate representing the Settlement Shares shall bear the following additional legend: 

“The anticipation, alienation, attachment, sale, transfer, assignment, pledge, encumbrance or charge of the shares of stock represented
hereby are subject to the terms and conditions (including forfeiture) of the Core Scientific, Inc. (the “Company”) 2018 Omnibus Incentive Plan (the “Plan”) and an Agreement entered into between the registered owner and the
Company dated ____. Copies of such Plan and Agreement are on file at the principal office of the Company.” 
 12. Restriction on Sale upon Public
Offering. Grantee agrees that, in the event the Company files a registration statement or other offering statement in connection with a Public Offering, Grantee will not, without the prior written consent of the Company, effect any public sale
or distribution of any of the shares of Common Stock (other than as part of such Public Offering), including but not limited to pursuant to Rule 144 or Rule 144A under the Securities Act, for the duration (not to exceed 20 days prior to and the 180
days after the effective date of such registration statement or offering statement) specified by and to the extent requested by the Company and an underwriter or sales agent of the Common Stock or other securities of the Company at any time during
such period except Common Stock (or other securities) included in such registration or qualified offering; provided, however, that (i) all officers and directors of the Company and all persons with registration rights with respect
to the Company’s capital stock enter into similar agreements; and (ii) the restrictions applicable to Grantee are no more restrictive than those applicable to any other shareholder, director or officer of the Company. Grantee further
understands and acknowledges that any sale, transfer or other disposition of the Settlement Shares by Grantee following a Public Offering will be subject to compliance with, and may be limited under, the federal securities laws and/or state
“blue sky” laws. 
 13. Registration. As soon as practicable following a Public Offering, the Company shall use its commercially reasonable
efforts to effect the registration under the Securities Act of all of the Shares evidenced hereby, to the extent such Shares are eligible for registration on Form S-8 (or other applicable form for registration
relating to the sale of securities to employees or other service providers in a Company equity incentive plan). 
 14. Limitation on Rights; No Right to
Future Grants; Extraordinary Item. By entering into this Award Agreement and accepting the Award, Grantee acknowledges that: (i) the Plan is discretionary and may be modified, suspended or terminated by the Company at any time as provided
in the Plan; (ii) the grant of the Award is a one-time benefit and does not create any contractual or other right to receive future grants of awards or benefits in lieu of awards; (iii) all
determinations with respect to any such future grants, including but not limited to the times when awards will be granted, the number of shares subject to each award, the award price, if any, and the time or times when each award will be settled,
will be at the sole discretion of the Company; (iv) Grantee’s participation in the Plan is voluntary; (v) the Award is not part of normal or expected compensation for any purpose; (vi) the future value of the Common Stock subject
to the Award is unknown and cannot be predicted with certainty; (vii) neither the Plan, the Award nor the issuance of the Shares confers upon Grantee any right to continue to provide services to the Company or an Affiliate; and (viii) the
grant of the Award will not be interpreted to form an employment relationship with the Company or any Affiliate. 

 15. Compliance with Section 409A. The Company intends that the Option be
structured in compliance with, or to satisfy an exemption from, Section 409A of the Code and all regulations, guidance, compliance programs and other interpretative authority thereunder (“Section 409A”), such
that there are no adverse tax consequences, interest or penalties under Section 409A as a result of the Option. 
 16. Entire Agreement. The
Award Agreement (including the Plan and the Company’s shareholders agreement) constitute the entire contract between the parties hereto with regard to the subject matter hereof. They supersede any other agreements, representations or
understandings (whether oral or written and whether express or implied) which relate to the subject matter hereof. 
 17. Waiver. No waiver of any
breach or condition of this Award Agreement shall be deemed to be a waiver of any other or subsequent breach or condition whether of like or different nature. 

18. Successors and Assigns. The provisions of this Award Agreement shall inure to the benefit of, and be binding upon, the Company and its successors
and assigns and upon the Grantee, the Grantee’s assigns and the legal representatives, heirs and legatees of the Grantee’s estate, whether or not any such person shall have become a party to this Award Agreement and have agreed in writing
to be joined herein and be bound by the terms hereof. 
 19. Choice of Law. THE VALIDITY, CONSTRUCTION, INTERPRETATION, ADMINISTRATION AND EFFECT OF
THE PLAN, AND OF ITS RULES AND REGULATIONS, AND RIGHTS RELATING TO THE PLAN AND TO THIS AWARD AGREEMENT, SHALL BE GOVERNED BY THE SUBSTANTIVE LAWS, BUT NOT THE CHOICE OF LAW RULES, OF THE STATE OF DELAWARE. 

20. Mutual Waiver of Jury Trial. TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, EACH PARTY TO THIS AWARD
AGREEMENT HEREBY WAIVES ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE BETWEEN OR AMONG ANY OF THE PARTIES HERETO, WHETHER ARISING IN CONTRACT, TORT, OR OTHERWISE, ARISING OUT OF, CONNECTED WITH,
RELATED OR INCIDENTAL TO THIS AWARD AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY AND/OR THE RELATIONSHIP ESTABLISHED AMONG THE PARTIES HEREUNDER. 

21. Amendment. The Committee may amend or alter this Award Agreement and the Options granted hereunder at any time; provided that, no such amendment or
alteration shall be made without the consent of the Grantee if such action would materially diminish any of the rights of the Grantee under this Award Agreement or with respect to the Options. The Board may amend the Company’s shareholder
agreement without the consent of the Grantee, whether before or after the Grantee becomes a party thereto. 
 22. Notices. Any notice or other
communication provided for herein or given hereunder to a party hereto must be in writing, and shall be deemed to have been given (a) when personally delivered or delivered by facsimile transmission with confirmation of delivery, (b) one
business day after deposit with Federal Express or similar overnight courier service, or (c) three business days after being mailed by first class mail, return receipt requested. A notice shall be addressed to the Company at its principal
executive office, attention Chief Human Resources Officer, and to the Grantee at the address that he or she most recently provided to the Company, provided that either party may specify a different address by written notice provided in accordance
with this Section 22. 
 23. Severability. The provisions of this Award 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. 

24. Signature in Counterparts. This Award Agreement may be signed in counterparts, each of which shall be an original, with the same effect as
if the signatures thereto and hereto were upon the same instrument.

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