Document:

Exhibit 10.7

 

Aries I Acquisition Corporation

90 N. Church Street, P.O. Box 10315

Grand Cayman, Cayman Islands, KY-1003

 

Aries Acquisition Partners, Ltd.

90 N. Church Street, P.O. Box 10315

Grand Cayman, Cayman Islands, KY-1003

 

January 20, 2021

 

RE: Securities
Subscription Agreement

 

Ladies and Gentlemen:

 

Aries
I Acquisition Corporation, a Cayman Islands exempted company (the “Company,” “we” or “us”),
is pleased to accept the offer made by Aries Acquisition Partners, Ltd., a Cayman Islands exempted company (“Subscriber”
or “you”), to purchase 5,031,250 Class B ordinary shares of the Company, par value $0.0001 per share (the “Shares”),
up to 656,250 of which are subject to forfeiture by you to the extent that the underwriters of the initial public offering (“IPO”)
of units (“Units”) of the Company do not fully exercise their option to purchase additional Units to cover over-allotments,
if any (the “Over-allotment Option”). The terms of the sale by the Company of the Shares to Subscriber, and
the Company and Subscriber’s agreements regarding the Shares, are as follows:

 

1.             Purchase
of Securities.

 

1.1.           
Purchase of Shares. For the sum of $25,000 (the “Purchase Price”), which the Company acknowledges
receiving in cash, the Company hereby issues the Shares to Subscriber, and Subscriber hereby purchases the Shares from the Company,
on the terms and subject to the conditions, including regarding forfeiture, set forth in this letter agreement (this “Agreement”).
Concurrently with Subscriber’s execution of this Agreement, the Company shall, at its option, deliver to Subscriber a certificate
registered in Subscriber’s name representing the shares (the “Original Certificate”) or effect such delivery
in book-entry form.

 

1.2.           
Repurchase of Original Share. Immediately following the issue of shares by the Company, the Company shall repurchase
the 1 Class B ordinary share of $0.0001 par value in the Company currently held by Cayman Management Ltd. as permitted by the articles
of association of the Company.

 

2.             Representations,
Warranties and Agreements.

 

2.1.           
Subscriber’s Representations, Warranties and Agreements. To induce the Company to issue the Shares to Subscriber,
Subscriber hereby represents and warrants to the Company and agrees with the Company as follows:

 

2.1.1.     
Organization and Authority. Subscriber is a Cayman Islands exempted company, and possesses
all requisite power and authority necessary to carry out the transactions contemplated by this Agreement. This Agreement is a legal,
valid and binding agreement of Subscriber, enforceable against Subscriber in accordance with its terms, except as such enforceability
may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement of
creditors’ rights generally and subject to general principles of equity (regardless of whether enforcement is sought in a
proceeding at law or in equity).

 

    1

     

    

 

2.1.2.     
No Conflicts. The execution, delivery and performance of this Agreement and the consummation by Subscriber of the
transactions contemplated hereby do not violate, conflict with or constitute a default under (i) the formation and governing documents
of Subscriber, (ii) any agreement, indenture or instrument to which Subscriber is a party or (iii) any law, statute, rule, regulation,
order, judgment or decree to which Subscriber is subject.

 

2.1.3.     
No Governmental Consents. No governmental, administrative or other third party consents or approvals are required,
necessary or appropriate on the part of Subscriber in connection with the transactions contemplated by this Agreement.

 

2.1.4.     
Experience, Financial Capability and Suitability. Subscriber is sophisticated in financial matters and is able to
evaluate the risks and benefits of the investment in the Shares. Subscriber acknowledges that the Shares have not been registered
under the Securities Act of 1933, as amended (the “Securities Act”), and therefore cannot be sold unless subsequently
registered under the Securities Act or an exemption from such registration is available. Subscriber understands that it must bear
the economic risk of this investment until the Shares are sold pursuant to: (i) an effective registration statement under the Securities
Act or (ii) an exemption from registration available with respect to such sale. Subscriber is able to bear the economic risk of
an investment in the Shares for an indefinite period of time and to afford a complete loss of Subscriber’s investment in
the Shares.

 

2.1.5.     
No Government Recommendation or Approval. Subscriber understands that no federal or state agency has passed upon
or made any recommendation or endorsement of the offering of the Shares.

 

2.1.6.     
Access to Information; Independent Investigation. Prior to the execution of this Agreement, Subscriber has had the
opportunity to ask questions of and receive answers from representatives of the Company concerning an investment in the Company,
as well as the financial condition, business and prospects of the Company, and the opportunity to obtain additional information
to verify the accuracy of all information so obtained. In determining whether to make this investment, Subscriber has relied solely
on Subscriber’s own knowledge and understanding of the Company and its business based upon Subscriber’s own due diligence
investigation. Subscriber understands that no person has been authorized to make any representations other than as set forth in
this Agreement and Subscriber has not relied on any other written or oral representations relating to the financial condition,
business and prospects of the Company in making its investment decision.

 

2.1.7.     
Investment Representations. Subscriber represents that it is an “accredited investor” as such term is
defined in Rule 501(a) of Regulation D under the Securities Act and acknowledges the sale contemplated hereby is being made in
reliance on the private placement exemption in Section 4(a)(2) of the Securities Act and/or said Regulation D and similar exemptions
under state law. Subscriber is purchasing the Shares solely for investment purposes, for Subscriber’s own account and not
for the account or benefit of any other person, and not with a view towards the distribution or dissemination thereof. Subscriber
did not decide to enter into this Agreement as a result of any general solicitation or general advertising within the meaning of
Rule 502 under the Securities Act.

 

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2.1.8.     
Restrictions on Transfer; Shell Company. Subscriber understands the Shares are being offered in a transaction not
involving a public offering within the meaning of the Securities Act. Subscriber understands the Shares will be “restricted
securities” within the meaning of Rule 144(a)(3) under the Securities Act, and Subscriber understands that the certificates
or book-entries representing the Shares will contain a legend or notation in respect of such restrictions. If, in the future, Subscriber
decides to offer, resell, pledge or otherwise transfer the Shares, such Shares may be offered, resold, pledged or otherwise transferred
only pursuant to: (i) an effective registration statement under the Securities Act or (ii) an exemption from registration available
with respect to such sale. Subscriber agrees that if any transfer of its Shares or any interest therein is proposed to be made,
as a condition precedent to any such transfer, Subscriber may be required to deliver to the Company an opinion of counsel satisfactory
to the Company. Absent registration or available exemption, Subscriber agrees not to resell the Shares. Subscriber further acknowledges
that because the Company is a shell company, Rule 144 may not be available to Subscriber for the resale of the Shares until one
year following consummation of the initial business combination of the Company, despite the release or waiver of any contractual
transfer restrictions.

 

2.2.           
Company’s Representations, Warranties and Agreements. To induce Subscriber to purchase the Shares, the Company
hereby represents and warrants to Subscriber and agrees with Subscriber as follows:

 

2.2.1.     
Organization and Authority. The Company is a Cayman Islands exempted company and possesses all requisite power and
authority necessary to carry out the transactions contemplated by this Agreement. This Agreement is a legal, valid and binding
agreement of the Company, enforceable against the Company in accordance with its terms, except as such enforceability may be limited
by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’ rights
generally and subject to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in
equity).

 

2.2.2.     
No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the
transactions contemplated hereby do not violate, conflict with or constitute a default under (i) the formation and governing documents
of the Company, (ii) any agreement, indenture or instrument to which the Company is a party or (iii) any law, statute, rule, regulation,
order, judgment or decree to which the Company is subject.

 

2.2.3.     
No Governmental Consents. No governmental, administrative or other third party consents or approvals are required,
necessary or appropriate on the part of the Company in connection with the transactions contemplated by this Agreement.

 

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2.2.4.     
Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Shares will
be duly and validly issued, fully paid and nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms
hereof, Subscriber will have or receive good title to the Shares, free and clear of all liens, claims and encumbrances of any kind,
other than (a) transfer restrictions hereunder and other agreements to which the Shares may become subject, (b) transfer restrictions
under federal and state securities laws, and (c) liens, claims or encumbrances imposed due to the actions of Subscriber.

 

2.2.5.     
No Adverse Actions. There are no actions, suits, investigations or proceedings pending, threatened against or affecting
the Company which: (i) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated
by this Agreement or (ii) question the validity or legality of any such transactions or seeks to recover damages or to obtain other
relief in connection with any such transactions.

 

3.             Forfeiture
of Shares.

 

3.1.           
Partial or No Exercise of the Over-allotment Option. In the event the Over- allotment Option is not exercised in
full, Subscriber acknowledges and agrees that it (or, if applicable, it and/or any transferees of Shares) shall forfeit any and
all rights to such number of Shares (up to an aggregate of 656,250 Shares (as such amount may be adjusted for share splits, share
dividends, reorganizations, recapitalizations and the like) and pro rata based upon the percentage of the Over-allotment Option
exercised) such that immediately following such forfeiture, Subscriber will own an aggregate number of Shares equal to 20% of the
issued and outstanding Shares immediately following the IPO. All references in this Agreement to Shares of the Company being forfeited
shall take effect as surrenders and cancellations for no consideration of such shares as a matter of Cayman Islands law.

 

3.2.           
Termination of Rights as Shareholder. If any of the Shares are forfeited in accordance with this Section 3, then
after such time Subscriber (or its successor in interest), shall no longer have any rights as a holder of such forfeited Shares,
and the Company shall take such action as is appropriate to cancel such forfeited Shares.

 

3.3.           
Share Certificates. In the event an adjustment to the Original Certificates, if any, is required pursuant to this
Section 3, then Subscriber shall return such Original Certificates to the Company or its designated agent as soon as practicable
upon its receipt of notice from the Company advising Subscriber of such adjustment, following which a new certificate (the “New
Certificate”), if any, shall be issued in such amount representing the adjusted number of Shares held by Subscriber.
The New Certificate, if any, shall be returned to Subscriber as soon as practicable. Any such adjustment for any uncertificated
securities held by Subscriber shall be made in book-entry form.

 

4.             Waiver
of Redemption Rights. Subscriber hereby waives any and all rights to redeem the Shares for a portion of the amounts held in
the trust account into which substantially all of the proceeds of the IPO will be deposited (the “Trust Account”)
in the event of (i) the Company’s failure to timely complete an initial business combination, (ii) an extension of the time
period to complete an initial business combination or (iii) upon the consummation of an initial business combination. For
purposes of clarity, in the event Subscriber purchases ordinary shares included in the Units issued in the IPO (“Public
Shares”), either in the IPO or in the aftermarket, any Public Shares so purchased shall be eligible to be redeemed for
a portion of the amounts held in the Trust Account in the event of the Company’s failure to timely complete an initial business
combination (but, for the avoidance of doubt, not in connection with an extension of the time period to complete an initial business
combination or upon the consummation of an initial business combination).

 

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5.             Restrictions
on Transfer.

 

5.1.           
Securities Law Restrictions. In addition to any restrictions to be contained in that certain letter agreement (commonly
known as an “Insider Letter”) to be dated as of the closing of the IPO by and between Subscriber and the Company
(which will also contain other agreements with respect to the Shares), Subscriber agrees not to sell, transfer, pledge, hypothecate
or otherwise dispose of all or any part of the Shares unless, prior thereto, (a) a registration statement on the appropriate form
under the Securities Act and applicable state securities laws with respect to the Shares proposed to be transferred shall then
be effective or (b) the Company has received an opinion from counsel, reasonably satisfactory to the Company, that registration
is not required because such transaction is exempt from registration under the Securities Act and the rules promulgated by the
Securities and Exchange Commission thereunder and all applicable state securities laws.

 

5.2.           
Lock-up. Subscriber acknowledges that the Shares will not be transferable, assignable or salable until 30 days after
the completion of the initial business combination, except to permitted transferees as described in the Registration Statement.

 

5.3.           
Restrictive Legends. Any certificates representing the Shares shall have endorsed thereon legends substantially as
follows (and any book-entries representing the Shares shall have similar notations):

 

“THE SECURITIES
REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND NEITHER
THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF EXCEPT
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND
SUCH LAWS WHICH, IN THE OPINION OF COUNSEL, IS AVAILABLE.”

 

“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE ARE SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER SET FORTH IN A LETTER AGREEMENT WITH ARIES I ACQUISITION
CORPORATION (THE “COMPANY”) (A COPY OF WHICH MAY BE OBTAINED FROM THE COMPANY AT THE COMPANY’S PRINCIPAL PLACE
OF BUSINESS WITHOUT CHARGE) AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF IN VIOLATION
OF SUCH RESTRICTIONS.”

 

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5.4.           
Additional Shares or Substituted Securities. In the event of the declaration of a share dividend, the declaration
of an extraordinary dividend payable in a form other than Shares, a spin-off, a share split, an adjustment in conversion ratio,
a recapitalization or a similar transaction affecting the Company’s outstanding Shares without receipt of consideration,
any new, substituted or additional securities or other property which are by reason of such transaction distributed with respect
to any Shares subject to this Section 5 or into which such Shares thereby become convertible shall immediately be subject to this
Section 5 and Section 3 hereof. Appropriate adjustments to reflect the distribution of such securities or property shall be made
to the number and/or class of Shares subject to this Section 5 and Section 3.

 

6.             Other
Agreements.

 

6.1.           
Further Assurances. Subscriber agrees to execute such further instruments and to take such further action as may
reasonably be necessary to carry out the intent of this Agreement.

 

6.2.           
Notices. All notices, statements or other documents which are required or contemplated by this Agreement shall be
in writing and delivered (i) personally or by certified mail (return receipt requested) or overnight courier service or (ii) by
electronic mail, if to the Company, at the address of its principal offices and any electronic mail address as may be designated
in writing by the Company and, if to Subscriber, at its address in the books and records of the Company and any electronic mail
address as may be designated in writing by Subscriber, or to such other addresses as may be designated in writing by the Company
or Subscriber. All such notices, statements or other documents shall be deemed received on the date of receipt by the recipient
thereof if received prior to 8:00 p.m. on a business day in the place of receipt. Otherwise, any such notices, statements or other
documents shall be deemed to have been received on the next succeeding business day in the place of receipt.

 

6.3.           
Entire Agreement. This Agreement, together with the Insider Letter and the registration rights agreement to be entered
into with respect to the Shares, each substantially in the form to be filed as an exhibit to the Registration Statement on Form
S-1 associated with the Company’s IPO, embodies the entire agreement and understanding between Subscriber and the Company
with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the
subject matter hereof. No statement, representation, warranty, covenant or agreement of any kind not expressly set forth in this
Agreement shall affect, or be used to interpret, change or restrict, the express terms and provisions of this Agreement.

 

6.4.           
Modifications and Amendments. The terms and provisions of this Agreement may be modified or amended only by written
agreement executed by all parties hereto.

 

6.5.           
Waivers and Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom
granted, only by a written document executed by the party entitled to the benefits of such terms or provisions. No such waiver
or consent shall be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this
Agreement, whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose
for which it was given, and shall not constitute a continuing waiver or consent.

 

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6.6.           
Assignment. The rights and obligations under this Agreement may not be assigned by either party hereto without the
prior written consent of the other party.

 

6.7.           
Benefit. All statements, representations, warranties, covenants and agreements in this Agreement shall be binding
on the parties hereto and shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing
in this Agreement shall be construed to create any rights or obligations except among the parties hereto, and no person or entity
shall be regarded as a third-party beneficiary of this Agreement.

 

6.8.           
Governing Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance
with and governed by the laws of the State of New York applicable to contracts wholly performed within the borders of such state,
without giving effect to the conflict of law principles thereof.

 

6.9.           
Severability. In the event that any court of competent jurisdiction shall determine that any provision, or any portion
thereof, contained in this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed
limited to the extent that such court deems it reasonable and enforceable, and, as so limited, shall remain in full force and effect.
In the event that such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions
of this Agreement shall nevertheless remain in full force and effect.

 

6.10.       
No Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or
remedy under this Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such right,
power or remedy of such party. No single or partial exercise of any right, power or remedy under this Agreement by a party hereto,
nor any abandonment or discontinuance of steps to enforce any such right, power or remedy, shall preclude such party from any other
or further exercise thereof or the exercise of any other right, power or remedy hereunder. The election of any remedy by a party
hereto shall not constitute a waiver of the right of such party to pursue other available remedies. No notice to or demand on a
party not expressly required under this Agreement shall entitle the party receiving such notice or demand to any other or further
notice or demand in similar or other circumstances or constitute a waiver of the rights of the party giving such notice or demand
to any other or further action in any circumstances without such notice or demand.

 

6.11.       
Survival of Representations and Warranties. All representations and warranties made by the parties hereto in this
Agreement or in any other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution
and delivery hereof and any investigations made by or on behalf of the parties.

 

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6.12.       
No Broker or Finder. Each of the parties hereto represents and warrants to the other that no broker, finder or other
financial consultant has acted on its behalf in connection with this Agreement or the transactions contemplated hereby in such
a way as to create any liability on the other. Each of the parties hereto agrees to indemnify and save the other harmless from
any claim or demand for commission or other compensation by any broker, finder, financial consultant or similar agent claiming
to have been employed by or on behalf of such party and to bear the cost of legal expenses incurred in defending against any such
claim.

 

6.13.       
Headings and Captions. The headings and captions of the various subdivisions of this Agreement are for convenience
of reference only and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.

 

6.14.       
Counterparts. This Agreement may be executed in one or more counterparts, all of which when taken together shall
be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered
to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is
delivered in pdf format via electronic mail, such signature shall create a valid and binding obligation of the party executing
(or on whose behalf such signature is executed) with the same force and effect as if such signature page were an original thereof.

 

6.15.       
Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If
an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties
hereto and no presumption or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of any
provision of this Agreement. The words “include,” “includes,” and “including”
will be deemed to be followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders will
be construed to include any other gender, and words in the singular form will be construed to include the plural and vice versa,
unless the context otherwise requires. The words “this Agreement,” “herein,” “hereof,”
 “hereby,” “hereunder,” and words of similar import refer to this Agreement as a whole and
not to any particular subdivision unless expressly so limited. The parties hereto intend that each representation, warranty, and
covenant contained herein will have independent significance. If any party hereto has breached any representation, warranty, or
covenant contained herein in any respect, the fact that there exists another representation, warranty or covenant relating to the
same subject matter (regardless of the relative levels of specificity) which such party hereto has not breached will not detract
from or mitigate the fact that such party hereto is in breach of the first representation, warranty, or covenant.

 

6.16.       
Mutual Drafting. This Agreement is the joint product of Subscriber and the Company and each provision hereof has
been subject to the mutual consultation, negotiation and agreement of such parties and shall not be construed for or against any
party hereto.

 

7.             Indemnification.
Each party shall indemnify the other against any loss, cost or damages (including reasonable attorney’s fees and expenses)
incurred as a result of such party’s breach of any representation, warranty, covenant or agreement in this Agreement.

 

[Signature Page Follows]

 

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If the foregoing accurately
sets forth our understanding and agreement, please sign the enclosed copy of this Agreement and return it to us.

 

	 	Very truly yours,
	 	 
	 	ARIES I ACQUISITION CORPORATION
	 	 
	 	By:	/s/ A.R. Thane Ritchie
	 	 	Name: A.R. Thane Ritchie
	 	 	Title: Director

 

Accepted and agreed as of the date first written above.

 

	ARIES ACQUISITION PARTNERS, LTD.	 
	 	 
	By:	/s/ A.R. Thane Ritchie	 
	 	Name: A.R. Thane Ritchie	 
	 	Title: Director	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to
Securities Subscription Agreement]Document

Exhibit 10.2

ADIENT PLC
RESTRICTED SHARES OR RESTRICTED SHARE UNIT AWARD AGREEMENT

Grant - Terms for Restricted Shares and Restricted Share Units

						
	Participant Name:
	

	Grant Date:
	

	Number of Restricted Shares:
	

	Number of Restricted Share Units:
	

	Restriction Period:
	

	Units Settled in Cash (check box if applies; see Section 3(b)):
	c

	Dividend Equivalents Settled in Cash (check box if applies):
	c

	Dividends or Dividend Equivalents Paid Currently (check box if applies):
	c

Adient plc has adopted the 2021 Omnibus Incentive Plan to permit awards of restricted shares or restricted share units to be made to certain key employees of the Company or any Affiliate.  The Company desires to provide incentives and potential rewards for future performance by the employee by providing the Participant with a means to acquire or to increase his or her proprietary interest in the Company's success.

Definitions.  Capitalized terms used in this Award Agreement have the following meanings:

(a)    “Award” means this grant of Restricted Shares and/or Restricted Share Units.
(b)    “Award Agreement” means this agreement setting forth the terms and conditions of the Award.
(c)    “Award Notice” means an Award notification (if any) other than this Award Agreement delivered to the Participant in connection with this Award.
(d)    “Company” means Adient plc or any successor thereto.
(e)    “Inimical Conduct” means any of the following as determined by the Administrator in its sole discretion: (i) any act or omission that is inimical to the best interests of the Company or any Affiliate as determined by the Administrator, (ii) violation of any employment, non-compete, confidentiality or other agreement in effect with the Company or any Affiliate, or the Company’s or an Affiliate’s code of ethics, as then in effect, (iii) conduct rising to the level of gross negligence or willful misconduct in the course of employment with the Company or an Affiliate, (iv) commission of an act of dishonesty or disloyalty involving the Company or an Affiliate, or taking any action which damages or negatively reflects on the reputation of the Company or an Affiliate, (v) failure to comply with applicable laws relating to trade secrets, confidential information or unfair competition or a violation of any other federal, state or local law in connection with the Participant’s employment or service, or (vi) breach of any fiduciary duty to the Company or an Affiliate.
(f)    “Participant” means the individual selected to receive this Award.
(g)    “Plan” means the Adient plc 2021 Omnibus Incentive Plan, as may be amended from time to time.
(h)    “Restriction Period” means the length of time indicated above or in any Award Notice during which the Participant cannot sell, transfer, pledge, assign or otherwise encumber the Restricted Shares or Restricted Share Units granted under this Award.
(i)    “Restricted Shares” means Shares that are subject to a risk of forfeiture and the Restriction Period.
(j)    “Restricted Share Unit” means the right to receive a payment, in cash or Shares, equal to the Fair Market Value of one Share, that is subject to a risk of forfeiture and the Restriction Period.
1

(k)    “Retirement” means a termination of employment from the Company and its Affiliates on or after age 60, other than a termination by the Company or an Affiliate for Cause.
(l)    “Share” means an ordinary share of the Company.

    Other capitalized terms used in this Award Agreement have the meanings given in the Plan.

The parties agree as follows:

1.    Grant of Award.  The Company hereby grants to the Participant an award of Restricted Shares or Restricted Share Units, as specified above or in any Award Notice, on the date and with respect to the number of Shares or Units specified above or in any Award Notice.  The Award is subject to the terms and conditions set forth herein and in the Plan, a copy of which has been delivered to the Participant, and which is made a part of this Award.

2.    Restricted Shares.  If the Award is in the form of Restricted Shares, the Shares are subject to the following terms:

a.    Restriction Period.  The Company will hold the Shares in escrow or via an independent trust or nominee for the Restriction Period.  During this period, the Shares shall be subject to forfeiture as provided in Section 4.

b.    Removal of Restrictions.  Subject to any applicable deferral election under the Adient US LLC Executive Deferred Compensation Plan (or any successor plan) and to Section 4 below, Shares that have not been forfeited shall become available to the Participant after the last day of the Restriction Period upon payment in full of all taxes due with respect to such Shares. 

c.    Voting Rights.  During the Restriction Period, the Participant may exercise full voting rights with respect to the Shares.

d.    Dividends and Other Distributions.  Any cash dividends or other distributions paid or delivered with respect to Restricted Shares for which the record date occurs on or before the last day of the Restriction Period will be credited to a bookkeeping account for the benefit of the Participant unless it is indicated above or in any Award Notice that such cash dividends or other distributions shall be paid currently.  To the extent such account is credited, it will be converted into and settled in additional Shares issued under the Plan at the end of the applicable Restriction Period unless it is indicated above or in any Award Notice that the account will be paid to the Participant in cash, in which case it will be paid in cash at the end of the applicable Restriction Period.  Prior to the end of the Restriction Period, any account credited pursuant to this paragraph will be subject to the same terms and conditions (including risk of forfeiture) as the Restricted Shares to which the dividends or other distributions relate.  

3.    Restricted Share Units.  If the Award is in the form of Restricted Share Units, the Restricted Share Units are subject to the following terms:

a.    Restriction Period.  During the Restriction Period, the Restricted Share Units shall be subject to forfeiture as provided in Section 4.

b.    Settlement of Restricted Share Units.  Subject to any applicable deferral election under the Adient US LLC Executive Deferred Compensation Plan (or any successor plan thereto) and to Section 4 below, the Restricted Share Units shall be settled by payment of one Share per Restricted Share Unit unless it is indicated above or in any Award Notice that the Restricted 
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Share Units will be settled through payment of cash, in which case the Restricted Share Units will be settled through payment of cash equal to the Fair Market Value of one Share per Restricted Share Unit, in each case as soon as practicable after the last day of the Restriction Period and upon payment in full of all taxes due with respect to such Restricted Share Units.  Notwithstanding the foregoing, if this Award provides that it will be settled in cash, but the Company has satisfied all registration, qualification or other legal requirements necessary to permit the settlement of the Restricted Share Units in Shares in the Participant’s jurisdiction without adverse legal, tax, financial or accounting consequences to the Company or its Affiliates, then such Award will instead be settled in Shares and the Participant will have no right to receive cash.  Notwithstanding the foregoing, if the Participant is a specified employee within the meaning of Code Section 409A and the Restriction Period lapses due to a termination of employment (other than for death), then the vested Restricted Share Units will be settled as soon as practicable six months after the Participant’s termination to the extent required to comply with Code Section 409A. 

c.    Dividend Equivalent Units.  Any cash dividends or other distributions paid or delivered with respect to the Shares for which the record date occurs on or before the last day of the Restriction Period will result in a credit to a bookkeeping account for the benefit of the Participant unless it is indicated above or in any Award Notice that such cash dividends or other distributions shall result in the current payment of a dividend equivalent.  Any such credit or dividend equivalent will be equal to the dividends or other distributions that would have been paid with respect to the Shares subject to the Restricted Share Units had such Shares been outstanding.  To the extent a bookkeeping account is credited pursuant to this paragraph, it will be converted into and settled in additional Shares issued under the Plan at the end of the applicable Restriction Period unless it is indicated above or in any Award Notice that the account will be paid to the Participant in cash, in which case it will be paid in cash at the end of the applicable Restriction Period.  Prior to the end of the Restriction Period, any account credited pursuant to this paragraph will be subject to the same terms and conditions (including risk of forfeiture) as the Restricted Share Units to which the dividends or other distributions relate.  

4.    Termination of Employment – Risk of Forfeiture.

a.    Retirement.  If the Participant’s employment with the Company and its Affiliates terminates after the first anniversary of the Grant Date due to Retirement, then all of the Participant’s Restricted Share Units awards will continue to vest and otherwise be subject to the terms and conditions of this Award Agreement as if the Participant’s employment had not terminated. If the Participant, after his or her Retirement, engages in Inimical Conduct, obtains Full-Time Employment, or acts as an employee (whether full-time or otherwise), consultant or member of a board of a Competitor,  as determined by the Administrator, any Restricted Share Units that have not yet vested or been settled shall automatically be forfeited as of the date of the Administrator’s determination. The Participant shall provide such information or documentation as the Administrator reasonably determines is necessary to confirm whether the Participant has engaged in any prohibited activity as described in the preceding sentence.  For purposes hereof:

i.    “Competing Product or Service” means any product or service that is sold in competition with, or, as of the date of the Participant’s Retirement, is being developed and that will compete with, a product or service developed, manufactured, or sold by the Company or any of its Affiliates. For purposes of this Section 4.a., Competing Products or Services as to the Participant are limited to products and/or services with respect to which the Participant participated in the development, planning, testing, sale, marketing or evaluation on behalf of the Company or any Affiliate  during any part of the Participant’s employment with the 
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Company or an Affiliate, or after the termination of the Participant’s employment, during any part of the 24 months preceding the termination of the Participant’s employment with the Company and its Affiliates, or for which the Participant supervised one or more Company or Affiliate employees, units, divisions or departments in doing so.

ii.    “Competitor” means an individual, business or any other entity or enterprise engaged or having publicly announced its intent to engage in the sale or marketing of any Competing Product or Service.

iii.    “Full-Time Employment” means working thirty-five (35) or more hours per week.

b.    Death.  If the Participant’s employment with the Company and its Affiliates terminates because of death at a time when the Participant could not have been terminated for Cause, then, effective as of the date the Company determines the Participant’s employment terminated due to death (provided such determination is made no more than 75 days after the date of death), any remaining Restriction Period shall automatically lapse.  If the Participant dies after Retirement while this Award is still subject to the Restriction Period, then, effective as of the date of the Participant’s death (provided the Company receives notice of the Participant’s death within 75 days), any remaining Restriction Period shall automatically lapse as of the date of death.  The Company shall have no liability to any person for any taxes, penalties or interest incurred by any person due to the Company not receiving notice of the Participant’s death within 75 days.

c.    Disability.  If the Participant’s employment with the Company and its Affiliates terminates because of Disability at a time when the Participant could not have been terminated for Cause, then the Participant shall become vested in (and any remaining Restriction Period shall automatically lapse with respect to) the Restricted Shares or Restricted Share Units subject to this Award as of the date such employment terminates.

d.    Other Termination.  If the Participant’s employment terminates for any reason not described above, then any Restricted Shares or any Restricted Share Units (and all deferred dividends paid or credited thereon) still subject to the Restriction Period as of the date of such termination of employment shall automatically be forfeited and returned to the Company.  In the event the Participant’s employment terminates due to the Participant’s involuntary termination of employment by the Company or an Affiliate for other than Cause, the Administrator may waive the automatic forfeiture of any or all such Restricted Shares or Restricted Share Units (and all deferred dividends or other distribution paid or credited thereon) and may add such new restrictions to such Restricted Shares or Restricted Share Units as it deems appropriate.  The Company may suspend payment or delivery of Shares (without liability for interest thereon) pending the Administrator’s determination of whether the Participant’s employment was or should have been terminated for Cause or whether the Participant has engaged in Inimical Conduct.

5.    Withholding.  The Participant agrees to remit to the Company any foreign, U.S. federal, state and/or local taxes (including the Participant’s FICA obligation) required by law to be withheld with respect to the issuance of Shares under this Award, the vesting of this Award or the payment of cash under this Award.  Unless the Company otherwise determines, the Company will satisfy any withholding obligations in connection with this Award by withholding from cash or Shares otherwise payable or issuable under this Award in the amount needed to satisfy any withholding obligations; provided that, in the case of Shares, the amount withheld may not exceed the total maximum statutory tax rates associated with the transaction.  Alternatively, the Company may require the Participant to pay to the Company, in cash, promptly on demand, amounts sufficient to satisfy such tax obligations or make other arrangements satisfactory to the Company regarding the payment to the Company of the aggregate amount of any such 
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tax obligations, or the Company may withhold from cash or other property, payable or issuable to the Participant or from Shares no longer subject to restrictions in the amount needed to satisfy any withholding obligations.

6.    No Claim for Forfeiture.  Neither the Award nor any benefit accruing to the Participant from the Award will be considered to be part of the Participant’s normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments.  In no event may the Award or any benefit accruing to the Participant from the Award be considered as compensation for, or relating in any way to, past services for the Company or any Affiliate.  In consideration of the Award, no claim or entitlement to compensation or damages shall arise from forfeiture of the Award resulting from termination of the Participant’s employment by the Company or any Affiliate (for any reason whatsoever and whether or not in breach of local labor laws) and the Participant irrevocably releases the Company and its Affiliates from any such claim that may arise.  If, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by accepting the grant, the Participant shall have been deemed irrevocably to have waived any entitlement to pursue such claim.  

7.    Electronic Delivery.  The Company or its Affiliates may, in its or their sole discretion, decide to deliver any documents related to current or future participation in the Plan or related to this Award by electronic means.  The Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company. The Participant hereby agrees that all on-line acknowledgements shall have the same force and effect as a written signature.

8.    Securities Compliance.  The Company may place a legend or legends upon the certificates for Shares issued under the Plan and may issue “stop transfer” instructions to its transfer agent in respect of such Shares as it determines to be necessary or appropriate to (a) prevent a violation of, or to obtain an exemption from, the registration requirements of the Securities Act of 1933, as amended, applicable state securities laws or other legal requirements, or (b) implement the provisions of the Plan, this Award Agreement or any other agreement between the Company and the Participant with respect to such Shares.

9.    Successors.  All obligations of the Company under this Award shall be binding on any successor to the Company.  The terms of this Award and the Plan shall be binding upon and inure to the benefit of the Participant, and his or her heirs, executors, administrators or legal representatives.

10.    Legal Compliance.  The granting of this Award and the issuance of Shares under this Award shall be subject to all applicable laws, rules, and regulations and to such approvals by any governmental agencies or national securities exchanges as may be required.

11.    Governing Law; Arbitration.  This Award and the rights and obligations hereunder shall be governed by and construed in accordance with, except to the extent preempted by other applicable laws (a) with respect to the corporate law requirements applicable to the Company, the validity and authorization of the issuance of Shares under the Plan and similar matters, the internal laws of Ireland (without reference to conflict of law principles thereof) and (b) with respect to all other matters relating to the Plan and Awards, the internal laws of the State of New York (without reference to conflict of law principles thereof). Arbitration will be conducted, to the extent applicable, per the provisions in the Plan.

12.    Data Privacy and Sharing.  As a condition of the granting of the Award, the Participant acknowledges and agrees that it is necessary for some of the Participant’s personal identifiable information to be provided to certain employees of the Company, the third party data processor that administers the Plan and the Company’s designated third party broker in the United States.  These transfers will be made pursuant to a contract that requires the processor to provide adequate levels of 
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protection for data privacy and security interests in accordance with the General Data Protection Regulation (EU 2016/679) and the implementing legislation of the Participant’s home country.  By accepting the Award, the Participant acknowledges having been informed of the processing of the Participant’s personal identifiable information described in the preceding paragraph and consents to the Company collecting and transferring to the Company's Total Rewards Department or Shareholder Services Department, and its independent benefit plan administrator and third party broker, the Participant’s personal data that are necessary to administer the Award and the Plan.  The Participant understands that his or her personal information may be transferred, processed and stored outside of the Participant’s home country in a country that may not have the same data protection laws as his or her home country, for the purposes mentioned in this Award Agreement.  

This Award, including any Award Notice delivered to the Participant and any other documents expressly referenced in this Award Agreement, contain all of the provisions applicable to the Award and no other statements, documents or practices may modify, waive or alter such provisions unless expressly set forth in writing, signed by an authorized officer of the Company and delivered to the Participant.

The Company has caused this Award Agreement to be executed by one of its authorized officers as of the date of grant.

ADIENT PLC

[Placeholder for signature]

Renee McLeod
Senior Vice President and Chief Human Resources Office
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