Document:

EX-10.6

 Exhibit 10.6 

PALANTIR TECHNOLOGIES INC. 

NOTICE OF STOCK OPTION GRANT (EARLY
EXERCISE) 
 The Optionee has been granted the following option to purchase shares of the Class B Common Stock of
Palantir Technologies Inc. (the “Company”): 
  

			
	Name of Optionee:	 	Alexander Karp
		
	Total Number of Shares:	 	8,000,000
		
	Type of Option:	 	Nonstatutory Stock Option (NSO)
		
	Exercise Price Per Share:	 	$0.85
		
	Date of Grant:	 	January 24, 2011
		
	Date Exercisable:	 	This option may be exercised at any time after the Date of Grant for all or any part of the Shares subject to this option.
		
	Vesting Commencement Date:            	 	June 3, 2011
		
	Vesting Schedule:	 	The Right of Repurchase shall lapse with respect to 1/120th of the Shares subject to this option when the Optionee completes each month of continuous Service after the Vesting
Commencement Date. In addition, if the Company is subject to a Change in Control before the Optionee’s Service terminates, then the Right of Repurchase shall lapse with respect to all of the Shares subject to this option.
		
	Expiration Date:	 	December 3, 2021. This option expires earlier if the Optionee’s Service terminates earlier, as provided in Section 6 of the Stock Option Agreement.

 By signing below, the Optionee and the Company agree that this option is granted under and governed by the terms and
conditions of the Stock Option Agreement, which is attached to, and made a part of, this Notice of Stock Option Grant. Section 15 of the Stock Option Agreement includes important acknowledgements of the Optionee. 

 

							
	OPTIONEE:	 		 	PALANTIR TECHNOLOGIES INC.
				
	 /s/ Alexander Karp
	 		 	By:	 	 /s/ Nathan Gettings

	 	 	 	 	Title: Secretary

 THE OPTION GRANTED PURSUANT TO THIS AGREEMENT AND THE SHARES ISSUABLE UPON THE EXERCISE THEREOF HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT
SUCH REGISTRATION IS NOT REQUIRED. 
 PALANTIR TECHNOLOGIES INC. 

STOCK OPTION AGREEMENT 

SECTION 1.    GRANT OF OPTION. 

(a)    Option. On the terms and conditions set forth in the Notice of Stock Option Grant and this Agreement,
the Company grants to the Optionee on the Date of Grant the option to purchase at the Exercise Price the number of Shares set forth in the Notice of Stock Option Grant. The Exercise Price is agreed to be at least 100% of the Fair Market Value per
Share on the Date of Grant. This option is intended to be an NSO, as provided in the Notice of Stock Option Grant. 

(b)    Defined Terms. Capitalized terms are defined in Section 16 of this Agreement. 

SECTION 2.    RIGHT TO EXERCISE. 

Subject to the other conditions set forth in this Agreement, all or part of this option may be exercised prior to its expiration at the time or
times set forth in the Notice of Stock Option Grant. Shares purchased by exercising this option may be subject to the Right of Repurchase under Section 7. 

SECTION 3.    NO TRANSFER OR ASSIGNMENT OF OPTION. 

Except as otherwise provided in this Agreement, this option and the rights and privileges conferred hereby shall not be sold, pledged or
otherwise transferred (whether by operation of law or otherwise) and shall not be subject to sale under execution, attachment, levy or similar process. In addition, this option shall comply with all conditions of Rule
12h-1(f)(1) under the Exchange Act until the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act. Such conditions include, without limitation, the
transferability restrictions set forth in Rule 12h-1(f)(1)(iv) and (v) under the Exchange Act, which shall apply to this option and, prior to exercise, to the Shares to be issued upon exercise of this
option during the period commencing on the Date of Grant and ending on the earlier of (i) the date when the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act or (ii) the date when the
Company makes a determination that it will cease to rely on the exemption afforded by Rule 12h-1(f)(1) under the Exchange Act. During such 

 
period, this option and, prior to exercise, the Shares to be issued upon exercise of this option shall be restricted as to any pledge, hypothecation or other transfer by the Optionee, including
any short position, any “put equivalent position” (as defined in Rule 16a-1(h) under the Exchange Act) or any “call equivalent position” (as defined in Rule
16a-1(b) under the Exchange Act). 
 SECTION 4.    EXERCISE PROCEDURES. 

(a)    Notice of Exercise. The Optionee or the Optionee’s representative may exercise this option by giving
written notice to the Company pursuant to Section 13(c). The notice shall specify the election to exercise this option, the number of Shares for which it is being exercised and the form of payment. The person exercising this option shall sign
the notice. In the event that this option is being exercised by the representative of the Optionee, the notice shall be accompanied by proof (satisfactory to the Company) of the representative’s right to exercise this option. The Optionee or
the Optionee’s representative shall deliver to the Company, at the time of giving the notice, payment in a form permissible under Section 5 for the full amount of the Purchase Price. In the event of a partial exercise of this option,
Shares shall be deemed to have been purchased in the order in which they vest in accordance with the Notice of Stock Option Grant. 

(b)    Issuance of Shares. After receiving a proper notice of exercise, the Company shall cause to be issued one or
more certificates evidencing the Shares for which this option has been exercised. Such Shares shall be registered (i) in the name of the person exercising this option, (ii) in the names of such person and his or her spouse as community
property or as joint tenants with the right of survivorship or (iii) with the Company’s consent, in the name of a revocable trust. In the case of Restricted Shares, the Company shall cause such certificates to be deposited in escrow under
Section 7(c). In the case of other Shares, the Company shall cause such certificates to be delivered to or upon the order of the person exercising this option. 

(c)    Withholding Taxes. In the event that the Company determines that it is required to withhold any tax as a
result of the exercise of this option, the Optionee, as a condition to the exercise of this option, shall make arrangements satisfactory to the Company to enable it to satisfy all withholding requirements. The Optionee shall also make arrangements
satisfactory to the Company to enable it to satisfy any withholding requirements that may arise in connection with the vesting or disposition of Shares purchased by exercising this option. 

SECTION 5.    PAYMENT FOR STOCK. 

(a)    Cash. All or part of the Purchase Price may be paid in cash or cash equivalents. 

(b)    Surrender of Stock. At the discretion of the Board of Directors, all or any part of the Purchase Price may
be paid by surrendering, or attesting to the ownership of, Shares that are already owned by the Optionee. Such Shares shall be surrendered to the Company in good form for transfer and shall be valued at their Fair Market Value as of the date when
this option is exercised. 

  
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 (c)    Exercise/Sale. All or part of the Purchase Price and any
withholding taxes may be paid by the delivery (on a form prescribed by the Company) of an irrevocable direction to a securities broker approved by the Company to sell Shares and to deliver all or part of the sales proceeds to the Company. However,
payment pursuant to this Subsection (c) shall be permitted only if (i) Stock then is publicly traded and (ii) such payment does not violate applicable law. 

SECTION 6.    TERM AND EXPIRATION. 

(a)    Basic Term. This option shall in any event expire on the expiration date set forth in the Notice of Stock
Option Grant. 
 (b)    Termination of Service (Except by Death). If the Optionee’s Service terminates for
any reason other than death, then this option shall expire on the earliest of the following occasions: 

(i)    The expiration date determined pursuant to Subsection (a) above; 

(ii)    The date five years after the termination of the Optionee’s Service. 

The Optionee may exercise all or part of this option at any time before its expiration under the preceding sentence, but only to the extent that this option
is exercisable for vested Shares on or before the date when the Optionee’s Service terminates. When the Optionee’s Service terminates, this option shall expire immediately with respect to the number of Shares for which this option is not
yet exercisable and with respect to any Restricted Shares. In the event that the Optionee dies after termination of Service but before the expiration of this option, all or part of this option may be exercised (prior to expiration) by the executors
or administrators of the Optionee’s estate or by any person who has acquired this option directly from the Optionee by beneficiary designation, bequest or inheritance, but only to the extent that this option was exercisable for vested Shares on
or before the date when the Optionee’s Service terminated. 
 (c)    Death of the Optionee. If the Optionee
dies while in Service, then this option shall expire on the earlier of the following dates: 
 (i)    The
expiration date determined pursuant to Subsection (a) above; or 
 (ii)    The date five years after
the Optionee’s death. 
 All or part of this option may be exercised at any time before its expiration under the preceding sentence by the executors or
administrators of the Optionee’s estate or by any person who has acquired this option directly from the Optionee by beneficiary designation, bequest or inheritance, but only to the extent that this option is exercisable for vested Shares on or
before the Optionee’s death. When the Optionee dies, this option shall expire immediately with respect to the number of Shares for which this option is not yet exercisable and with respect to any Restricted Shares. 

  
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 (d)    Part-Time Employment and Leaves of Absence. If the
Optionee commences working on a part-time basis, then the Company may adjust the vesting schedule set forth in the Notice of Stock Option Grant in accordance with the Company’s part-time work policy or the terms of an agreement between the
Optionee and the Company pertaining to his or her part-time schedule. If the Optionee goes on a leave of absence, then the Company may adjust the vesting schedule set forth in the Notice of Stock Option Grant in accordance with the Company’s
leave of absence policy or the terms of such leave. Except as provided in the preceding sentence, Service shall be deemed to continue for any purpose under this Agreement while the Optionee is on a bona fide leave of absence, if (i) such
leave was approved by the Company in writing and (ii) continued crediting of Service for such purpose is expressly required by the terms of such leave or by applicable law (as determined by the Company). Service shall be deemed to terminate
when such leave ends, unless the Optionee immediately returns to active work. 
 SECTION 7.    RIGHT OF REPURCHASE. 

(a)    Scope of Repurchase Right. Until they vest in accordance with the Notice of Stock Option Grant and
Subsection (b) below, the Shares acquired under this Agreement shall be Restricted Shares and shall be subject to the Company’s Right of Repurchase. The Company, however, may decline to exercise its Right of Repurchase or may exercise its
Right of Repurchase only with respect to a portion of the Restricted Shares. The Company may exercise its Right of Repurchase only during the Repurchase Period following the termination of the Optionee’s Service, but the Right of Repurchase may
be exercised automatically under Subsection (d) below. If the Right of Repurchase is exercised, the Company shall pay the Optionee an amount equal to the lower of (i) the Exercise Price of each Restricted Shares being repurchased or
(ii) the Fair Market Value of such Restricted Share at the time the Right of Repurchase is exercised. 

(b)    Lapse of Repurchase Right. The Right of Repurchase shall lapse with respect to the Restricted Shares in
accordance with the vesting schedule set forth in the Notice of Stock Option Grant. 
 (c)    Escrow. Upon
issuance, the certificate(s) for Restricted Shares shall be deposited in escrow with the Company to be held in accordance with the provisions of this Agreement. Any additional or exchanged securities or other property described in
Subsection (f) below shall immediately be delivered to the Company to be held in escrow. All ordinary cash dividends on Restricted Shares (or on other securities held in escrow) shall be paid directly to the Optionee and shall not be held in
escrow. Restricted Shares, together with any other assets held in escrow under this Agreement, shall be (i) surrendered to the Company for repurchase upon exercise of the Right of Repurchase or the Right of First Refusal or (ii) released
to the Optionee upon his or her request to the extent that the Shares have ceased to be Restricted Shares (but not more frequently than once every six months). In any event, all Shares that have ceased to be Restricted Shares, together with any
other vested assets held in escrow under this Agreement, shall be released within 90 days after the earlier of (i) the termination of the Optionee’s Service or (ii) the lapse of the Right of First Refusal. 

  
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 (d)    Exercise of Repurchase Right. The Company shall be deemed
to have exercised its Right of Repurchase automatically for all Restricted Shares as of the commencement of the Repurchase Period, unless the Company during the Repurchase Period notifies the holder of the Restricted Shares pursuant to
Section 13(c) that it will not exercise its Right of Repurchase for some or all of the Restricted Shares. The Company shall pay to the holder of the Restricted Shares the purchase price determined under Subsection (a) above for the
Restricted Shares being repurchased. Payment shall be made in cash or cash equivalents and/or by canceling indebtedness to the Company incurred by the Optionee in the purchase of the Restricted Shares. The certificate(s) representing the Restricted
Shares being repurchased shall be delivered to the Company. 
 (e)    Termination of Rights as Stockholder. If
the Right of Repurchase is exercised in accordance with this Section 7 and the Company makes available the consideration for the Restricted Shares being repurchased, then the person from whom the Restricted Shares are repurchased shall no
longer have any rights as a holder of the Restricted Shares (other than the right to receive payment of such consideration). Such Restricted Shares shall be deemed to have been repurchased pursuant to this Section 7, whether or not the
certificate(s) for such Restricted Shares have been delivered to the Company or the consideration for such Restricted Shares has been accepted. 

(f)    Additional or Exchanged Securities and Property. In the event of a merger or consolidation of the Company
with or into another entity, any other corporate reorganization, a stock split, the declaration of a stock dividend, the declaration of an extraordinary dividend payable in a form other than stock, a spin-off,
an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding securities, any securities or other property (including cash or cash equivalents) that are by reason of such transaction
exchanged for, or distributed with respect to, any Restricted Shares shall immediately be subject to the Right of Repurchase. Appropriate adjustments to reflect the exchange or distribution of such securities or property shall be made to the number
and/or class of the Restricted Shares. Appropriate adjustments shall also be made to the price per share to be paid upon the exercise of the Right of Repurchase, provided that the aggregate purchase price payable for the Restricted Shares shall
remain the same. In the event of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, the Right of Repurchase may be exercised by the Company’s successor. 

(g)    Transfer of Restricted Shares. The Optionee shall not transfer, assign, encumber or otherwise dispose of any
Restricted Shares without the Company’s written consent, except as provided in the following sentence. The Optionee may transfer Restricted Shares to a member of the Optionee’s Immediate Family or to a trust established by the Optionee for
the benefit of the Optionee and/or one or more members of the Optionee’s Immediate Family, provided in either case that the Transferee agrees in writing on a form prescribed by the Company to be bound by all provisions of this Agreement and
provided further that only one such transfer will be permitted. If the Optionee transfers any Restricted Shares, then this Agreement shall apply to the Transferee to the same extent as to the Optionee. 

(h)    Assignment of Repurchase Right. The Board of Directors may freely assign the Company’s Right of
Repurchase, in whole or in part. Any person who accepts an 

  
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assignment of the Right of Repurchase from the Company shall assume all of the Company’s rights and obligations under this Section 7. 

SECTION 8.    RIGHT OF FIRST REFUSAL. 

(a)    Right of First Refusal. In the event that the Optionee proposes to sell, pledge or otherwise transfer to a
third party any Shares acquired under this Agreement, or any interest in such Shares, the Company shall have the Right of First Refusal with respect to all (and not less than all) of such Shares. If the Optionee desires to transfer Shares acquired
under this Agreement, the Optionee shall give a written Transfer Notice to the Company describing fully the proposed transfer, including the number of Shares proposed to be transferred, the proposed transfer price, the name and address of the
proposed Transferee and proof satisfactory to the Company that the proposed sale or transfer will not violate any applicable federal or state securities laws. The Transfer Notice shall be signed both by the Optionee and by the proposed Transferee
and must constitute a binding commitment of both parties to the transfer of the Shares. The Company shall have the right to purchase all, and not less than all, of the Shares on the terms of the proposal described in the Transfer Notice (subject,
however, to any change in such terms permitted under Subsection (b) below) by delivery of a notice of exercise of the Right of First Refusal within 30 days after the date when the Transfer Notice was received by the Company. 

(b)    Transfer of Shares. If the Company fails to exercise its Right of First Refusal within 30 days after
the date when it received the Transfer Notice, the Optionee may, not later than 90 days following receipt of the Transfer Notice by the Company, conclude a transfer of the Shares subject to the Transfer Notice on the terms and conditions
described in the Transfer Notice, provided that any such sale is made in compliance with applicable federal and state securities laws and not in violation of any other contractual restrictions to which the Optionee is bound. Any proposed transfer on
terms and conditions different from those described in the Transfer Notice, as well as any subsequent proposed transfer by the Optionee, shall again be subject to the Right of First Refusal and shall require compliance with the procedure described
in Subsection (a) above. If the Company exercises its Right of First Refusal, the parties shall consummate the sale of the Shares on the terms set forth in the Transfer Notice within 60 days after the date when the Company received the
Transfer Notice (or within such longer period as may have been specified in the Transfer Notice); provided, however, that in the event the Transfer Notice provided that payment for the Shares was to be made in a form other than cash or cash
equivalents paid at the time of transfer, the Company shall have the option of paying for the Shares with cash or cash equivalents equal to the present value of the consideration described in the Transfer Notice. 

(c)    Additional or Exchanged Securities and Property. In the event of a merger or consolidation of the Company
with or into another entity, any other corporate reorganization, a stock split, the declaration of a stock dividend, the declaration of an extraordinary dividend payable in a form other than stock, a spin-off,
an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding securities, any securities or other property (including cash or cash equivalents) that are by reason of such transaction
exchanged for, or distributed with respect to, any Shares subject to this Section 8 shall immediately be subject to the Right of First Refusal. Appropriate adjustments to 

  
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reflect the exchange or distribution of such securities or property shall be made to the number and/or class of the Shares subject to this Section 8. 

(d)    Termination of Right of First Refusal. Any other provision of this Section 8 notwithstanding, in the
event that the Stock is readily tradable on an established securities market when the Optionee desires to transfer Shares, the Company shall have no Right of First Refusal, and the Optionee shall have no obligation to comply with the procedures
prescribed by Subsections (a) and (b) above. 
 (e)    Permitted Transfers. This Section 8 shall
not apply to (i) a transfer by beneficiary designation, will or intestate succession or (ii) a transfer to a member of the Optionee’s Immediate Family or to a trust established by the Optionee for the benefit of the Optionee and/or
one or more members of the Optionee’s Immediate Family, provided in either case that the Transferee agrees in writing on a form prescribed by the Company to be bound by all provisions of this Agreement and provided further that only one such
transfer shall be permitted. If the Optionee transfers any Shares acquired under this Agreement, either under this Subsection (e) or after the Company has failed to exercise the Right of First Refusal, then this Agreement shall apply to the
Transferee to the same extent as to the Optionee. 
 (f)    Termination of Rights as Stockholder. If the Company
makes available, at the time and place and in the amount and form provided in this Agreement, the consideration for the Shares to be purchased in accordance with this Section 8, then after such time the person from whom such Shares are to be
purchased shall no longer have any rights as a holder of such Shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such Shares shall be deemed to have been purchased in accordance with the
applicable provisions hereof, whether or not the certificate(s) therefor have been delivered as required by this Agreement. 

(g)    Assignment of Right of First Refusal. The Board of Directors may freely assign the Company’s Right of
First Refusal, in whole or in part. Any person who accepts an assignment of the Right of First Refusal from the Company shall assume all of the Company’s rights and obligations under this Section 8. 

SECTION 9.    LEGALITY OF INITIAL ISSUANCE. 

No Shares shall be issued upon the exercise of this option unless and until the Company has determined that: 

(a)    It and the Optionee have taken any actions required to register the Shares under the Securities Act
or to perfect an exemption from the registration requirements thereof; 
 (b)    Any applicable listing
requirement of any stock exchange or other securities market on which Stock is listed has been satisfied; and 

(c)    Any other applicable provision of federal, state or foreign law has been satisfied. 

  
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 SECTION 10.    NO REGISTRATION RIGHTS. 

The Company may, but shall not be obligated to, register or qualify the sale of Shares under the Securities Act or any other applicable law.
The Company shall not be obligated to take any affirmative action in order to cause the sale of Shares under this Agreement to comply with any law. 

SECTION 11.    RESTRICTIONS ON TRANSFER. 

(a)    Securities Law Restrictions. Regardless of whether the offering and sale of Shares subject to this option
have been registered under the Securities Act or have been registered or qualified under the securities laws of any state, the Company at its discretion may impose restrictions upon the sale, pledge or other transfer of such Shares (including the
placement of appropriate legends on stock certificates or the imposition of stop-transfer instructions) if, in the judgment of the Company, such restrictions are necessary or desirable in order to achieve
compliance with the Securities Act, the securities laws of any state or any other law. 
 (b)    Market Stand-Off. In connection with any underwritten public offering by the Company of its equity securities pursuant to an effective registration statement filed under the Securities Act, including the Company’s
initial public offering, the Optionee or a Transferee shall not directly or indirectly sell, make any short sale of, loan, hypothecate, pledge, offer, grant or sell any option or other contract for the purchase of, purchase any option or other
contract for the sale of, or otherwise dispose of or transfer, or agree to engage in any of the foregoing transactions with respect to, any Shares acquired under this Agreement without the prior written consent of the Company or its managing
underwriter. Such restriction (the “Market Stand-Off”) shall be in effect for such period of time following the date of the final prospectus for the offering as may be requested by the Company or
such underwriter. In no event, however, shall such period exceed 180 days plus such additional period as may reasonably be requested by the Company or such underwriter to accommodate regulatory restrictions on (i) the publication or other
distribution of research reports or (ii) analyst recommendations and opinions, including (without limitation) the restrictions set forth in Rule 2711(f)(4) of the National Association of Securities Dealers and Rule 472(f)(4) of the
New York Stock Exchange, as amended, or any similar successor rules. The Market Stand-Off shall in any event terminate two years after the date of the Company’s initial public offering. In the event of
the declaration of a stock dividend, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding securities without
receipt of consideration, any new, substituted or additional securities which are by reason of such transaction distributed with respect to any Shares subject to the Market Stand-Off, or into which such Shares
thereby become convertible, shall immediately be subject to the Market Stand-Off. In order to enforce the Market Stand-Off, the Company may impose stop-transfer
instructions with respect to the Shares acquired under this Agreement until the end of the applicable stand-off period. The Company’s underwriters shall be beneficiaries of the agreement set forth in this
Subsection (b). This Subsection (b) shall not apply to Shares registered in the public offering under the Securities Act. 

  
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 (c)    Investment Intent at Grant. The Optionee represents and
agrees that the Shares to be acquired upon exercising this option will be acquired for investment, and not with a view to the sale or distribution thereof. 

(d)    Investment Intent at Exercise. In the event that the sale of Shares subject to this option is not registered
under the Securities Act but an exemption is available which requires an investment representation or other representation, the Optionee shall represent and agree at the time of exercise that the Shares being acquired upon exercising this option are
being acquired for investment, and not with a view to the sale or distribution thereof, and shall make such other representations as are deemed necessary or appropriate by the Company and its counsel. 

(e)    Legends. All certificates evidencing Shares purchased under this Agreement shall bear the following legends:

 “THE SHARES REPRESENTED HEREBY MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, ENCUMBERED OR IN ANY MANNER DISPOSED OF, EXCEPT IN COMPLIANCE
WITH THE TERMS OF A WRITTEN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER OF THE SHARES (OR THE PREDECESSOR IN INTEREST TO THE SHARES). SUCH AGREEMENT GRANTS TO THE COMPANY CERTAIN RIGHTS OF FIRST REFUSAL UPON AN ATTEMPTED TRANSFER OF THE
SHARES AND CERTAIN REPURCHASE RIGHTS UPON TERMINATION OF SERVICE WITH THE COMPANY. THE SECRETARY OF THE COMPANY WILL UPON WRITTEN REQUEST FURNISH A COPY OF SUCH AGREEMENT TO THE HOLDER HEREOF WITHOUT CHARGE.” 

“THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A LOCK-UP PERIOD OF UP TO 180 DAYS PLUS
SUCH ADDITIONAL PERIOD AS MAY REASONABLY BE REQUESTED AFTER THE EFFECTIVE DATE OF THE ISSUER’S REGISTRATION STATEMENT FILED UNDER THE SECURITIES ACT of 1933, AS AMENDED, AS SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE ORIGINAL HOLDER
OF THESE SECURITIES, A COPY OF WHICH MAY BE OBTAINED AT THE ISSUER’S PRINCIPAL OFFICE. SUCH LOCK-UP PERIOD IS BINDING ON TRANSFEREES OF THESE SHARES.” 

All certificates evidencing Shares purchased under this Agreement in an unregistered transaction shall bear the following legend (and such other restrictive
legends as are required or deemed advisable under the provisions of any applicable law): 
 “THE SHARES REPRESENTED HEREBY HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AN 

  
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OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED.” 

(f)    Removal of Legends. If, in the opinion of the Company and its counsel, any legend placed on a stock
certificate representing Shares sold under this Agreement is no longer required, the holder of such certificate shall be entitled to exchange such certificate for a certificate representing the same number of Shares but without such legend. 

(g)    Administration. Any determination by the Company and its counsel in connection with any of the matters set
forth in this Section 11 shall be conclusive and binding on the Optionee and all other persons. 
 SECTION 12.     ADJUSTMENT OF
SHARES. 
 (a)    General. In the event of a subdivision of the outstanding Stock, a declaration of a dividend
payable in Shares, a combination or consolidation of the outstanding Stock into a lesser number of Shares, a reclassification, or any other increase or decrease in the number of issued shares of Stock effected without receipt of consideration by the
Company, proportionate adjustments shall automatically be made in each of (i) the number of Shares covered by this option (to the extent the option is outstanding) and (ii) the Exercise Price (to the extent this option is outstanding). In
the event of a declaration of an extraordinary dividend payable in a form other than Shares in an amount that has a material effect on the Fair Market Value of the Stock, a recapitalization, a spin-off or a
similar occurrence, the Board of Directors at its sole discretion may make appropriate adjustments in one or more of (i) the number of Shares covered by this option or (ii) the Exercise Price; provided, however, that the Board of Directors
shall in any event make such adjustments as it makes to options outstanding under the Company’s 2006 Stock Plan. 

(b)    Mergers and Consolidations. In the event that the Company is a party to a merger or consolidation, this
option shall be subject to the agreement of merger or consolidation. Such agreement shall provide for one or more of the following: 

(i)    The continuation of this option by the Company (if the Company is the surviving corporation). 

(ii)    The assumption of this option by the surviving corporation or its parent in a manner that complies
with Section 424(a) of the Code (whether or not this option is an ISO). 
 (iii)    The substitution
by the surviving corporation or its parent of a new option for this option in a manner that complies with Section 424(a) of the Code (whether or not this option is an ISO). 

(iv)    Full exercisability of this option and full vesting of the Shares subject to this option, followed
by the cancellation of this option. The full exercisability of this option and full vesting of the Shares subject to this option may be contingent on the closing of such merger or consolidation. The Optionee shall be able to exercise this option
during a period of not less than five full 

  
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business days preceding the closing date of such merger or consolidation, unless (A) a shorter period is required to permit a timely closing of such merger or consolidation and (B) such
shorter period still offers the Optionee a reasonable opportunity to exercise this option. Any exercise of this option during such period may be contingent on the closing of such merger or consolidation. 

(v)    The cancellation of this option and a payment to the Optionee equal to the excess of (A) the
Fair Market Value of the Shares subject to this option (whether or not this option is then exercisable or such Shares are then vested) as of the closing date of such merger or consolidation over (B) their Exercise Price. Such payment shall be
made in the form of cash, cash equivalents, or securities of the surviving corporation or its parent with a Fair Market Value equal to the required amount. Such payment may be made in installments and may be deferred until the date or dates when
this option would have become exercisable or such Shares would have vested. Such payment may be subject to vesting based on the Optionee’s continuing Service, provided that the vesting schedule shall not be less favorable to the Optionee than
the schedule under which this option would have become exercisable or such Shares would have vested. If the Exercise Price of the Shares subject to this option exceeds the Fair Market Value of such Shares, then this option may be cancelled without
making a payment to the Optionee. For purposes of this Paragraph (v), the Fair Market Value of any security shall be determined without regard to any vesting conditions that may apply to such security. 

(c)    Reservation of Rights. Except as provided in this Section 12, the Optionee shall have no rights by
reason of (i) any subdivision or consolidation of shares of stock of any class, (ii) the payment of any dividend or (iii) any other increase or decrease in the number of shares of stock of any class. Any issuance by the Company of
shares of stock of any class, or securities convertible into shares of stock of any class, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number or Exercise Price of the Shares subject to this option. The
grant of this option shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business structure, to merge or consolidate or to dissolve, liquidate, sell or
transfer all or any part of its business or assets. 
 SECTION 13.     MISCELLANEOUS PROVISIONS. 

(a)    Rights as a Stockholder. Neither the Optionee nor the Optionee’s representative shall have any rights as
a stockholder with respect to any Shares subject to this option until the Optionee or the Optionee’s representative becomes entitled to receive such Shares by filing a notice of exercise and paying the Purchase Price pursuant to Sections 4
and 5. 
 (b)    No Retention Rights. Nothing in this option shall confer upon the Optionee 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 Parent or Subsidiary employing or retaining the Optionee) or of the Optionee, 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. 

  
 11 

 (c)    Notice. Any notice required by the terms of this Agreement
shall be given in writing. It shall be deemed effective upon (i) personal delivery, (ii) deposit with the United States Postal Service, by registered or certified mail, with postage and fees prepaid or (iii) deposit with Federal
Express Corporation, with shipping charges prepaid. Notice shall be addressed to the Company at its principal executive office and to the Optionee at the address that he or she most recently provided to the Company in accordance with this
Subsection (c). 
 (d)    Modifications and Waivers. No provision of this Agreement shall be modified,
waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by the Optionee and by an authorized officer of the Company (other than the Optionee). No waiver by either party of any breach of, or of compliance
with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 

(e)    Entire Agreement. The Notice of Stock Option Grant and this 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. 

(f)    Choice of Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State
of Delaware, as such laws are applied to contracts entered into and performed in such State. 
 SECTION 14.     PRE-EXERCISE INFORMATION REQUIREMENT 
 (a)    Application of Requirement.
This Section 14 shall apply only during a period that (i) commences when the Company begins to rely on the exemption described in Rule 12h-1(f)(1) under the Exchange Act, as determined by the
Company in its sole discretion, and (ii) ends on the earlier of (A) the date when the Company ceases to rely on such exemption, as determined by the Company in its sole discretion, or (B) the date when the Company becomes subject to
the reporting requirements of Section 13 or 15(d) of the Exchange Act. In addition, this Section 14 shall in no event apply to the Optionee after he or she has fully exercised this option. 

(b)    Scope of Requirement. The Company shall provide to the Optionee the information described in
Rule 701(e)(3), (4) and (5) under the Securities Act. Such information shall be provided at six-month intervals, and the financial statements included in such information shall not be more than
180 days old. The foregoing notwithstanding, the Company shall not be required to provide such information unless the Optionee has agreed in writing, on a form prescribed by the Company, to keep such information confidential. 

SECTION 15.     ACKNOWLEDGEMENTS OF THE OPTIONEE. 

(a)    Tax Consequences. The Optionee agrees that the Company does not have a duty to design or administer this
option or its other compensation programs in a manner that minimizes the Optionee’s tax liabilities. The Optionee shall not make any claim against the Company or its Board of Directors, officers or employees related to tax liabilities arising
from this option or the Optionee’s other compensation. In particular, the Optionee acknowledges that 

  
 12 

 
this option is exempt from Section 409A of the Code only if the Exercise Price is at least equal to the Fair Market Value per Share on the Date of Grant. Since Shares are not traded on an
established securities market, the determination of their Fair Market Value is made by the Board of Directors or by an independent valuation firm retained by the Company. The Optionee acknowledges that there is no guarantee in either case that the
Internal Revenue Service will agree with the valuation, and the Optionee shall not make any claim against the Company or its Board of Directors, officers or employees in the event that the Internal Revenue Service asserts that the valuation was too
low. 
 (b)    Electronic Delivery of Documents. The Optionee agrees that the Company may deliver by email all
documents relating to this option and all other documents that the Company is required to deliver to its security holders (including, without limitation, disclosures that may be required by the Securities and Exchange Commission). The Optionee also
agrees that the Company may deliver these documents by posting them on a website maintained by the Company or by a third party under contract with the Company. If the Company posts these documents on a website, it shall notify the Optionee by email.

 (c)    No Notice of Expiration Date. The Optionee agrees that the Company and its officers, employees,
attorneys and agents do not have any obligation to notify him or her prior to the expiration of this option pursuant to Section 6, regardless of whether this option will expire at the end of its full term or on an earlier date related to the
termination of the Optionee’s Service. The Optionee further agrees that he or she has the sole responsibility for monitoring the expiration of this option and for exercising this option, if at all, before it expires. This Subsection (c)
shall supersede any contrary representation that may have been made, orally or in writing, by the Company or by an officer, employee, attorney or agent of the Company. 

SECTION 16.     DEFINITIONS. 

(a)    “Agreement” shall mean this Stock Option Agreement. 

(b)    “Board of Directors” shall mean the Board of Directors of the Company, as constituted from time to
time or, if a Committee has been appointed, such Committee. 
 (c)    “Change in Control” shall mean
(i) the consummation of a merger or consolidation of the Company with or into another entity or (ii) the dissolution, liquidation or winding up of the Company. The foregoing notwithstanding, a merger or consolidation of the Company shall
not constitute a “Change in Control” if immediately after such merger or consolidation a majority of the voting power of the capital stock of the continuing or surviving entity, or any direct or indirect parent corporation of such
continuing or surviving entity, will be owned by the persons who were the Company’s stockholders immediately prior to such merger or consolidation in substantially the same proportions as their ownership of the voting power of the
Company’s capital stock immediately prior to such merger or consolidation. 
 (d)     “Code” shall
mean the Internal Revenue Code of 1986, as amended. 
 (e)    “Committee” shall mean a committee of the
Board of Directors. Each Committee shall consist of one or more members of the Board of Directors who have been appointed by the Board of Directors. Each committee shall have such authority and be 

  
 13 

 
responsible for such functions as the Board of Directors has assigned to it. Any reference to the Board of Directors in this Agreement shall be construed as a reference to the Committee (if any)
to whom the Board of Directors has assigned a particular function. 
 (f)    “Company” shall mean
Palantir Technologies Inc., a Delaware corporation. 
 (g)    “Consultant” shall mean a person who
performs bona fide services for the Company, a Parent or a Subsidiary as a consultant or advisor, excluding Employees and Outside Directors. 

(h)    “Date of Grant” shall mean the date specified in the Notice of Stock Option Grant, which date
shall be the later of (i) the date on which the Board of Directors resolved to grant this option or (ii) the first day of the Optionee’s Service. 

(i)    “Disability” shall mean that the Optionee is unable to engage in any substantial gainful activity
by reason of any medically determinable physical or mental impairment. 
 (j)    “Employee” shall mean
any individual who is a common-law employee of the Company, a Parent or a Subsidiary. 

(k)    “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

(l)    “Exercise Price” shall mean the amount for which one Share may be purchased upon exercise of this
option, as specified in the Notice of Stock Option Grant. 
 (m)    “Fair Market Value” shall mean the
fair market value of a Share, as determined by the Board of Directors in good faith. Such determination shall be conclusive and binding on all persons. 

(n)    “Immediate Family” shall mean any child, stepchild, grandchild, parent, stepparent, grandparent,
spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law and shall include adoptive relationships. 

(o)    “ISO” shall mean an employee incentive stock option described in Section 422(b) of the Code.

 (p)    “Notice of Stock Option Grant” shall mean the document so entitled to which this Agreement is
attached. 
 (q)    “NSO” shall mean a stock option not described in Sections 422(b) or 423(b) of
the Code. 
 (r)    “Optionee” shall mean the person named in the Notice of Stock Option Grant. 

  
 14 

 (s)    “Outside Director” shall mean a member of the
Board of Directors who is not an Employee. 
 (t)    “Parent” shall mean any corporation (other than
the Company) in an unbroken chain of corporations ending with the Company, if each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other
corporations in such chain. 
 (u)    “Purchase Price” shall mean the Exercise Price multiplied by the
number of Shares with respect to which this option is being exercised. 
 (v)    “Repurchase Period”
shall mean a period of 90 consecutive days commencing on the date when the Optionee’s Service terminates for any reason, including (without limitation) death or disability. 

(w)    “Restricted Share” shall mean a Share that is subject to the Right of Repurchase. 

(x)    “Right of First Refusal” shall mean the Company’s right of first refusal described in
Section 8. 
 (y)    “Right of Repurchase” shall mean the Company’s right of repurchase
described in Section 7. 
 (z)    “Securities Act” shall mean the Securities Act of 1933, as
amended. 
 (aa)    “Service” shall mean service as an Employee, Outside Director or Consultant. 

(bb)    “Share” shall mean one share of Stock, as adjusted in accordance with Section 12 of this
Agreement (if applicable). 
 (cc)    “Stock” shall mean the Class B Common Stock of the Company.

 (dd)    “Subsidiary” shall mean any corporation (other than the Company) in an unbroken chain of
corporations beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations
in such chain. 
 (ee)    “Transferee” shall mean any person to whom the Optionee has directly or
indirectly transferred any Share acquired under this Agreement. 
 (ff)    “Transfer Notice” shall mean
the notice of a proposed transfer of Shares described in Section 8. 

  
 15hgbl-ex41_36.htm

Exhibit 4.1

INCORPORATED UNDER THE LAWS OF THE STATE OF FLORIDA NUMBER HG 0320 HERITAGEGLOBAL INC. SHARES COMMON STOCK SEE REVERSE FOR CERTAIN DEFINITIONS CUSIP 42727E 10 3 THIS CERTIFIES THAT SPECIMEN IS THE REGISTERED HOLDER OF SHARES OF COMMON STOCK, PAR VALUE $0.01 PER SHARE, FULLY OAID AND NON-ASSESSABLE OF HERITAGE GLOBAL INC. transferable on the books of the Corporation by the holder hereof, in person or by Attorney, upon surrender of this Certificate properly endorsed. This Certificate is not valid until countersigned by the Transfer Agent and registered by the Registrar. WITNESS the facsimile seal of the Corporation and the facsimile signatures of its duly authorized officers. Dated: [signature] EXECUTIVE VICE PRESIDENT, GENERAL COUNSEL AND  SECRETARY [seal] [signature] CHIED EXECUTIVE OFFICER CONTER SIGNED AND REGISTERED AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC BY (BROOKLYN, NY) TRANSFER AUDIT AND REGISTRAR AUTHORIZED SIGNATURE CERTIFICATE OF STOCK

HERITAGE GLOBAL INC.

The Corporation will furnish without charge to each stock holder who so requests the powers, designations , preferences and relative, participating, optional or other special rights of each class of stock or series thereof of the Corporation and the qualifications , limitations, or restrictions of such preferences and/or rights . Such request may be made to the Corporation or the Transfer Agent. 

The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: 

 

		
	
TEN COM   - as  tenants in common
	
UNIF  GIFT  MIN  ACT - - - - - Custodian - - - - -

	
TEN  ENT  - as  tenants  by  the entireties
	
( Cust ) (Minor)

	
JT TEN - as  joint  tenants  with  right of
	
under  Uniform Gifts to  Minors

	
survivorship  and  not  as  tenants  
	
Act _ _ _ _ _ _ _

	
in common
	
(State)

 

Additional abbreviations may  also  be  used  though  not  in  the  above list. 

For value received, ........................................................hereby  sell,  assign  and  transfer unto 

PLEASE INSERT  SOCIAL  SECURITY  OR  OTHER   IDENTIFYING  NUMBER  OF ASSIGNEE - ............................................................................................................................................................................................................................................................ 

Please  print  or  typewrite  name  and address including postal  zip  code of  assignee ........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ 

Shares of  the  capital   stock  represented   by  the  within  Certificate,  and  do  hereby irrevocably  constitute and   appoint................................................................................................... ............................................................................................................................... 

Attorney  to  transfer  the  said  stock  on the  books  of  the  within - named  Corporation  with  full  power   of  substitution  in  the premises. 

Dated ................................................... 

NOTICE:  ...........................................................................................................

THE  SIGNATURE  TO  THIS  ASSIGNMENT  MUST  CORRESPOND WITH  THE  NAME  AS  WRITTEN  UPON  THE  FACE  OF  THIS   CERTIFICATE IN EVERY PARTICULAR ,  WITHOUT  ALTERATION  OR  ENLARGEMENT  OR ANY  CHANGE WHATEVER. 

SIGNATURE (S) GUARANTEED: .................................................................................

THE SIGNATURE($) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO SEC . RULE 17 Ad-15.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00313-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00313-of-00352.parquet"}]]