Document:

Exhibit 10.9

 

BRC INC.

 

 

 

2022 EMPLOYEE STOCK PURCHASE PLAN

 

Article I

PURPOSE

 

The BRC Inc. 2022 Employee
Stock Purchase Plan (as it may be amended or restated from time to time, the “Plan”) is intended to assist Eligible
Employees of BRC Inc., a Delaware public benefit corporation (the “Company”), and its Designated Subsidiaries
in acquiring a stock ownership interest in the Company. Initially, the Plan is not intended to qualify
as an “employee stock purchase plan” under Section 423 of the Code. From and after such date as the Committee, in its
sole discretion, determines that the Plan is able to satisfy the requirements under Section 423 of the Code and that it will operate
the Plan in accordance with such requirements (such date, the “Section 423 Effective Date”), the Plan is
intended to qualify as an “employee stock purchase plan” under Section 423 of the Code and will be operated and construed
accordingly. Except as specifically provided herein, and unless the Plan is amended pursuant to Article IX, the operative terms of
the Plan as in effect on the Effective Date will remain the same on and after the Section 423 Effective Date.

 

Article II

DEFINITIONS AND CONSTRUCTION

 

For purposes of the Plan,
the following terms shall have the following meanings:

  

2.1            “Administrator”
means the entity that conducts the general administration of the Plan as provided in Article XI. The term “Administrator”
shall refer to the Committee unless the Board has assumed the authority for administration of the Plan as provided in Article XI.

 

2.2            “Applicable
Law” means the requirements relating to the administration of equity incentive plans under U.S. federal and state securities,
tax and other applicable laws, rules and regulations, the applicable rules of any stock exchange or quotation system on which
the Common Stock is listed or quoted and the applicable laws and rules of any foreign country or other jurisdiction where rights
under this Plan are granted.

 

2.3            “Board”
means the Board of Directors of the Company.

 

2.4            “Business
Combination Agreement” means that certain Business Combination Agreement, as amended from time to time, by and among SilverBox
Engaged Merger Corp I, a Delaware corporation, BRC Inc., a Delaware corporation, SBEA Merger Sub LLC, a Delaware limited liability company,
BRCC Blocker Merger Sub LLC, a Delaware limited liability company, Grand Opal Investment Holdings, Inc., a Delaware corporation,
and Authentic Brands, LLC, a Delaware limited liability company.

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2.5            “Code”
means the Internal Revenue Code of 1986, as amended, and the regulations issued thereunder.

 

2.6            “Common
Stock” means the Class A common stock, $0.-001 par value per share, of the Company and such other securities of the
Company that may be substituted therefor pursuant to Article VIII.

 

2.7            “Company”
means BRC Inc., a Delaware public benefit corporation.

 

2.8            “Compensation”
means the gross base salary or wages received by an Eligible Employee as compensation for services to the Company or any Designated Subsidiary,
including prior week adjustment and overtime payments but excluding vacation pay, holiday pay, jury duty pay, funeral leave pay, military
leave pay, commissions, incentive compensation, one-time bonuses (e.g., retention or sign-on bonuses), education or tuition reimbursements,
travel expenses, business and moving reimbursements, income received in connection with any stock options, stock appreciation rights,
restricted stock, restricted stock units or other compensatory equity awards, fringe benefits, other special payments and all contributions
made by the Company or any Designated Subsidiary for such Eligible Employee’s benefit under any employee benefit plan now or hereafter
established. The Administrator may, on a uniform and nondiscriminatory basis, establish a different definition of Compensation for an
Offering Period prior to the commencement of such Offering Period.

 

2.9            “Designated
Subsidiary” means any Subsidiary designated by the Administrator in accordance with Section 11.3(b).

 

2.10          “Effective
Date” means the date of the closing of the transactions contemplated by Business Combination Agreement.

 

2.11          “Eligible
Employee” means an Employee who does not, immediately after any rights under this Plan are granted, own (directly or through
attribution) stock possessing 5% or more of the total combined voting power or value of all classes of Common Stock and other stock of
the Company, a Parent or a Subsidiary (as determined under Section 423(b)(3) of the Code). For purposes of the foregoing sentence,
the rules of Section 424(d) of the Code with regard to the attribution of stock ownership shall apply in determining the
stock ownership of an individual, and stock that an Employee may purchase under outstanding options shall be treated as stock owned by
the Employee; provided, however, that the Administrator may provide in an Offering Document that an Employee shall not be
eligible to participate in an Offering Period if such Employee meets certain criteria and following the Section 423 Effective Date
such criteria shall be limited to: (a) such Employee is a “highly compensated employee” of the Company or any Designated
Subsidiary (within the meaning of Section 414(q) of the Code), or is such a “highly compensated employee” (i) with
compensation above a specified level, (ii) who is an officer and/or (iii) is subject to the disclosure requirements of Section 16(a) of
the Exchange Act; (b) such Employee has not met a service requirement designated by the Administrator pursuant to Section 423(b)(4)(A) of
the Code (which service requirement may not exceed two years), (c) such Employee is customarily scheduled to work less than twenty
(20) hours per week, (d) such Employee’s customary employment is for less than five (5) months in any calendar year and/or
(e) such Employee is a citizen or resident of a foreign jurisdiction (without regard to whether they are also a citizen of the United
States or a resident alien (within the meaning of Section 7701(b)(1)(A) of the Code)) if either (i) the grant of the Option
is prohibited under the laws of the jurisdiction governing such Employee, or (ii) compliance with the laws of the foreign jurisdiction
would cause the Plan or the Option to violate the requirements of Section 423 of the Code; provided that any exclusion in
clauses (a), (b), (c), (d) or (e) shall be applied in an identical manner under each Offering Period to all Employees of the
Company and all Designated Subsidiaries, in accordance with Treasury Regulations § 1.423-2(e).

 

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2.12          “Employee”
means any officer or other employee (as defined in accordance with Section 3401(c) of the Code) of the Company or any Designated
Subsidiary. An Employee does not include any director of the Company or a Designated Subsidiary who does not render services to the Company
or a Designated Subsidiary as an employee within the meaning of Section 3401(c) of the Code. For purposes of the Plan, the employment
relationship shall be treated as continuing intact while the individual is on sick leave or other leave of absence approved by the Company
or Designated Subsidiary and meeting the requirements of Treasury Regulation Section 1.421-1(h)(2). Where the period of leave exceeds
three months and the individual’s right to reemployment is not guaranteed either by statute or by contract, the employment relationship
shall be deemed to have terminated on the first day immediately following such three-month period.

 

2.13          “Enrollment
Date” means the first day of each Offering Period (or, with respect to the Initial Offering Period, such date set forth
in the Offering Document approved by the Administrator with respect to the Initial Offering Period).

 

2.14          “Exchange
Act” means the Securities Exchange Act of 1934, as amended from time to time. Reference to a specific section of the Exchange
Act or regulation thereunder shall include such section or regulation, any valid regulation or interpretation promulgated under such section,
and any comparable provision of any future legislation or regulation amending, supplementing, or superseding such section or regulation.

 

2.15          “Fair
Market Value” means, for purposes of the Plan, unless otherwise required by any applicable provision of the Code as of any
date and except as provided below, the last sales price reported for the Common Stock on the applicable date: (a) as reported on
the principal national securities exchange in the United States on which it is then traded or (b) if the Common Stock is not traded,
listed, or otherwise reported or quoted, the Committee shall determine in good faith the Fair Market Value in whatever manner it considers
appropriate taking into account the requirements of Section 409A of the Code.

 

2.16          “Grant
Date” means the first Trading Day of an Offering Period (or, with respect to the Initial Offering Period, such date set
forth in the Offering Document approved by the Administrator with respect to the Initial Offering Period).

 

2.17          “Initial
Offering Period” shall mean the period commencing on the Effective Date and ending the date set forth in the Offering Document
approved by the Administrator with respect to the Initial Offering Period.

 

2.18         “Offering
Document” shall have the meaning given to such term in Section 4.1.

 

2.19          “Offering
Period” shall have the meaning given to such term in Section 4.1.

 

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2.20          “Parent”
means any corporation, other than the Company, in an unbroken chain of corporations ending with the Company if, at the time of the determination,
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.

 

2.21          “Participant”
means any Eligible Employee who has executed a subscription agreement and been granted rights to purchase Common Stock pursuant to the
Plan.

 

2.22          “Plan”
means this BRC, Inc. 2022 Employee Stock Purchase Plan, as it may be amended from time to time.

 

2.23          “Purchase
Date” means the last Trading Day of each Purchase Period.

 

2.24          “Purchase
Period” shall refer to one or more periods within an Offering Period, as designated in the applicable Offering Document;
provided, however, that, in the event no Purchase Period is designated by the Administrator in the applicable Offering Document,
the Purchase Period for each Offering Period covered by such Offering Document shall be the same as the applicable Offering Period.

 

2.25          “Purchase
Price” means the purchase price designated by the Administrator in the applicable Offering Document (which purchase price
shall not be less than 85% of the Fair Market Value of a Share on the Grant Date or on the Purchase Date, whichever is lower); provided,
however, that, in the event no purchase price is designated by the Administrator in the applicable Offering Document, the purchase
price for the Offering Periods covered by such Offering Document shall be 85% of the Fair Market Value of a Share on the Grant Date or
on the Purchase Date, whichever is lower; provided, further, that the Purchase Price may be adjusted by the Administrator
pursuant to Article VIII and shall not be less than the par value of a Share.

 

2.26          “Section 423”
means Section 423 of the Code.

 

2.27          “Securities
Act” means the Securities Act of 1933, as amended, and all rules and regulations promulgated thereunder. Reference
to a specific section of the Securities Act or regulation thereunder shall include such section or regulation, any valid regulation or
interpretation promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing,
or superseding such section or regulation.

 

2.28          “Share”
means a share of Common Stock.

 

2.29          “Subsidiary”
means (i) on and after the Section 423 Effective Date, any corporation, other than the Company, in an unbroken chain of corporations
beginning with the Company if, at the time of the determination, each of the corporations other than the last corporation in an 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; provided, however, that a limited liability company or partnership may be treated as a Subsidiary to the extent
either (a) such entity is treated as a disregarded entity under Treasury Regulation Section 301.7701-3(a) by reason of
the Company or any other Subsidiary that is a corporation being the sole owner of such entity, or (b) such entity elects to be classified
as a corporation under Treasury Regulation Section 301.7701-3(a) and such entity would otherwise qualify as a Subsidiary or
(ii) prior to the Section 423 Effective Date, in addition to the entities in clause (i), “Subsidiary” may also include
a subsidiary of the Company that would be described in the first sentence of Treasury Regulation Section 1.409A-1(b)(5)(iii)(E)(1).

 

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2.30          “Trading
Day” means a day on which national stock exchanges in the United States are open for trading.

 

Article III

SHARES SUBJECT TO THE PLAN

 

3.1            Number
of Shares. Subject to Article VIII, the aggregate number of Shares that may be issued pursuant to rights granted under the Plan
shall be 2% of the aggregate number of fully-diluted Shares and shares of Class B Common Stock that are outstanding as of the Effective
Date. In addition to the foregoing, subject to Article VIII, the number of Shares that may be issued pursuant to rights granted under
the Plan shall be subject to an annual increase on January 1 of each calendar year during the term of the Plan, equal to the lesser
of (a) 1% of the aggregate number of Shares and shares of Class B common stock of the Company outstanding on the final day of
the immediately preceding calendar year and (b) such smaller number of Shares as is determined by the Board. If any right granted
under the Plan shall for any reason terminate without having been exercised, the Common Stock not purchased under such right shall again
become available for issuance under the Plan. Notwithstanding anything in this Section 3.1 to the contrary, the number of Shares
that may be issued or transferred pursuant to the rights granted under the Plan shall not exceed an aggregate of 22,986,156 Shares, subject
to Article VIII.

 

3.2            Stock
Distributed. Any Common Stock distributed pursuant to the Plan may consist, in whole or in part, of authorized and unissued Common
Stock, treasury stock or Common Stock purchased on the open market.

 

Article IV

OFFERING PERIODS; OFFERING DOCUMENTS; PURCHASE DATES

 

4.1            Offering
Periods. The Administrator may from time to time grant or provide for the grant of rights to purchase Common Stock under the Plan
to Eligible Employees during one or more periods (each, an “Offering Period”) selected by the Administrator.
The terms and conditions applicable to each Offering Period shall be set forth in an “Offering Document” adopted
by the Administrator, which Offering Document shall be in such form and shall contain such terms and conditions as the Administrator shall
deem appropriate and shall be incorporated by reference into and made part of the Plan and shall be attached hereto as part of the Plan.
The Administrator shall establish in each Offering Document one or more Purchase Periods during such Offering Period during which rights
granted under the Plan shall be exercised and purchases of Shares carried out during such Offering Period in accordance with such Offering
Document and the Plan. The provisions of separate Offering Periods under the Plan need not be identical.

 

4.2            Offering
Documents. Each Offering Document with respect to an Offering Period shall specify (through incorporation of the provisions of this
Plan by reference or otherwise):

 

		(a)	the length of the Offering Period, which period shall not exceed twenty-seven months;

 

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		(b)	the length of the Purchase Period(s) within the Offering Period;

 

		(c)	the maximum number of Shares that may be purchased by any Eligible Employee during such Offering Period,
which, in the absence of a contrary designation by the Administrator, shall be 5,000 Shares;

 

		(d)	in connection with each Offering Period that contains more than one Purchase Period, the maximum aggregate
number of shares which may be purchased by any Eligible Employee during each Purchase Period, which, in the absence of a contrary designation
by the Administrator, shall be 10,000 Shares; and

 

		(e)	such other provisions as the Administrator determines are appropriate, including, without limitation,
a maximum number of shares that may be purchased by all Participants during an Offering Period, subject to the provisions of the Plan.

 

Article V

ELIGIBILITY AND PARTICIPATION

 

5.1            Eligibility.
Any Eligible Employee who shall be employed by the Company or a Designated Subsidiary on a given Enrollment Date for an Offering Period
shall be eligible to participate in the Plan during such Offering Period, subject to the requirements of this Article V and, on or
after the Section 423 Effective Date, the limitations imposed by Section 423(b) of the Code.

 

5.2            Enrollment
in Plan.

 

(a)            Except
as otherwise set forth in an Offering Document or determined by the Administrator, an Eligible Employee may become a Participant in the
Plan for an Offering Period by delivering a subscription agreement (including an electronic form) to the Company by such time prior to
the Enrollment Date for such Offering Period (or such other date specified in the Offering Document) designated by the Administrator and
in such form as the Company provides.

 

(b)            Each
subscription agreement shall designate a whole percentage of such Eligible Employee’s Compensation to be withheld by the Company
or the Designated Subsidiary employing such Eligible Employee on each payday during the Offering Period as payroll deductions under the
Plan or, if permitted by the Administrator, contributions to be made by such Eligible Employee. The designated percentage may not be less
than 1% and may not be more than the maximum percentage specified by the Administrator in the applicable Offering Document (which percentage
shall be 15% in the absence of any such designation). The payroll deductions or, if permitted by the Administrator, contributions made
for each Participant shall be credited to an account for such Participant under the Plan and shall be deposited with the general funds
of the Company.

 

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(c)            A
Participant may decrease (but not increase) the percentage of Compensation designated in his or her subscription agreement, subject to
the limits of this Section 5.2, or may suspend his or her payroll deductions, or, if permitted by the Administrator, contributions,
at any time during an Offering Period; provided, however, that the Administrator may limit the number of changes a Participant
may make to his or her payroll deduction elections or, if permitted by the Administrator, contributions, during each Offering Period in
the applicable Offering Document (and in the absence of any specific designation by the Administrator, a Participant shall be allowed
one change to his or her payroll deduction elections or, if permitted by the Administrator, contributions, during each Offering Period).
Any such change or suspension of payroll deductions, or, if permitted by the Administrator, contributions, shall be effective with the
first full payroll period that is at least five business days after the Company’s receipt of the new subscription agreement (or
such shorter or longer period as may be specified by the Administrator in the applicable Offering Document). In the event a Participant
suspends his or her payroll deductions or contributions, such Participant’s cumulative payroll deductions or contributions prior
to the suspension shall remain in his or her account and shall be applied to the purchase of Shares on the next occurring Purchase Date
and shall not be paid to such Participant unless he or she withdraws from participation in the Plan pursuant to Article VII.

 

(d)            Except
as set forth in Section 5.8, as otherwise set forth in an Offering Document or determined by the Administrator, a Participant may
participate in the Plan only by means of payroll deduction and may not make contributions by lump sum payment for any Offering Period.

 

5.3            Payroll
Deductions. Except as otherwise provided in the applicable Offering Document or Section 5.8, payroll deductions for a Participant
shall commence on the first payroll following the Enrollment Date and shall end on the last payroll in the Offering Period to which the
Participant’s authorization is applicable, unless sooner terminated by the Participant as provided in Article VII or suspended
by the Participant or the Administrator as provided in Section 5.2 and Section 5.6, respectively.

 

5.4            Effect
of Enrollment. A Participant’s completion of a subscription agreement will enroll such Participant in the Plan for each subsequent
Offering Period on the terms contained therein until the Participant either submits a new subscription agreement, withdraws from participation
under the Plan as provided in Article VII or otherwise becomes ineligible to participate in the Plan.

 

5.5            Limitation
on Purchase of Common Stock. An Eligible Employee may be granted rights under the Plan only if such rights, together with any other
rights granted to such Eligible Employee under “employee stock purchase plans” of the Company, any Parent or any Subsidiary,
as specified by Section 423(b)(8) of the Code, do not permit such employee’s rights to purchase stock of the Company or
any Parent or Subsidiary to accrue at a rate that exceeds $25,000 of the fair market value of such stock (determined as of the time which
such rights are granted) for each calendar year in which such rights are outstanding at any time. This limitation shall be applied in
accordance with Section 423(b)(8) of the Code. For the avoidance of doubt, this limitation shall apply to rights granted both
before and after the Section 423 Effective Date.

 

5.6            Decrease
or Suspension of Payroll Deductions or Contributions. Notwithstanding the foregoing, to the extent necessary to comply with Section 423(b)(8) of
the Code and Section 5.5 or the other limitations set forth in this Plan, a Participant’s payroll deductions or contributions
may be suspended or discontinued by the Administrator at any time during an Offering Period. The balance of the amount credited to the
account of each Participant that has not been applied to the purchase of Shares by reason of Section 423(b)(8) of the Code,
Section 5.5 or the other limitations set forth in this Plan shall be paid to such Participant in one lump sum in cash as soon as
reasonably practicable after the Purchase Date.

 

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5.7            Foreign
Employees. In order to facilitate participation in the Plan, the Administrator may provide for such special terms applicable to Participants
who are citizens or residents of a foreign jurisdiction, or who are employed by a Designated Subsidiary outside of the United States,
as the Administrator may consider necessary or appropriate to accommodate differences in local law, tax policy or custom. Such special
terms may not be more favorable than the terms of rights granted under the Plan to Eligible Employees who are residents of the United
States. Moreover, the Administrator may approve such supplements to, or amendments, restatements or alternative versions of, this Plan
as it may consider necessary or appropriate for such purposes without thereby affecting the terms of this Plan as in effect for any other
purpose. No such special terms, supplements, amendments or restatements shall include any provisions that are inconsistent with the terms
of this Plan as then in effect unless this Plan could have been amended to eliminate such inconsistency without further approval by the
stockholders of the Company.

 

5.8            Leave
of Absence. During leaves of absence approved by the Company meeting the requirements of Treasury Regulation Section 1.421-1(h)(2) under
the Code, a Participant may continue participation in the Plan by making cash payments to the Company on his or her normal payday equal
to his or her authorized payroll deduction.

 

Article VI

GRANT AND EXERCISE OF RIGHTS

 

6.1            Grant
of Rights. On the Grant Date of each Offering Period, each Eligible Employee participating in such Offering Period shall be granted
a right to purchase the maximum number of Shares specified under Section 4.2, subject to the limits in Section 5.5, and shall
have the right to buy, on each Purchase Date during such Offering Period (at the applicable Purchase Price), such number of whole Shares
as is determined by dividing (a) such Participant’s payroll deductions or permitted contributions accumulated prior to such
Purchase Date and retained in the Participant’s account as of the Purchase Date, by (b) the applicable Purchase Price (rounded
down to the nearest Share). The right shall expire on the earlier of: (x) the last Purchase Date of the Offering Period, (y) last
day of the Offering Period and (z) the date on which the Participant withdraws in accordance with Section 7.1 or Section 7.3.

 

6.2            Exercise
of Rights. On each Purchase Date, each Participant’s accumulated payroll deductions or permitted contributions and any other
additional payments specifically provided for in the applicable Offering Document will be applied to the purchase of whole Shares, up
to the maximum number of Shares permitted pursuant to the terms of the Plan and the applicable Offering Document, at the Purchase Price.
No fractional Shares shall be issued upon the exercise of rights granted under the Plan, unless the Offering Document specifically provides
otherwise. Any cash in lieu of fractional Shares remaining after the purchase of whole Shares upon exercise of a purchase right will be
credited to a Participant’s account and returned to the Participant in one lump sum payment in a subsequent payroll check as soon
as practicable after the Exercise Date. Shares issued pursuant to the Plan may be evidenced in such manner as the Administrator may determine
and may be issued in certificated form or issued pursuant to book-entry procedures.

 

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6.3            Pro
Rata Allocation of Shares. If the Administrator determines that, on a given Purchase Date, the number of Shares with respect to which
rights are to be exercised may exceed (a) the number of Shares that were available for issuance under the Plan on the Enrollment
Date of the applicable Offering Period, or (b) the number of Shares available for issuance under the Plan on such Purchase Date,
the Administrator may in its sole discretion provide that the Company shall make a pro rata allocation of the Shares available for purchase
on such Enrollment Date or Purchase Date, as applicable, in as uniform a manner as shall be practicable and as it shall determine in its
sole discretion to be equitable among all Participants for whom rights to purchase Common Stock are to be exercised pursuant to this Article VI
on such Purchase Date, and shall either (i) continue all Offering Periods then in effect, or (ii) terminate any or all Offering
Periods then in effect pursuant to Article IX. The Company may make pro rata allocation of the Shares available on the Enrollment
Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional Shares for
issuance under the Plan by the Company’s stockholders subsequent to such Enrollment Date. The balance of the amount credited to
the account of each Participant that has not been applied to the purchase of Shares shall be paid to such Participant in one lump sum
in cash as soon as reasonably practicable after the Purchase Date.

 

6.4            Withholding.
At the time a Participant’s rights under the Plan are exercised, in whole or in part, or at the time some or all of the Common Stock
issued under the Plan is disposed of, the Participant must make adequate provision for the Company’s federal, state, or other tax
withholding obligations, if any, that arise upon the exercise of the right or the disposition of the Common Stock. At any time, the Company
may, but shall not be obligated to, withhold from the Participant’s compensation the amount necessary for the Company to meet applicable
withholding obligations, including any withholding required to make available to the Company any tax deductions or benefits attributable
to sale or early disposition of Common Stock by the Participant.

 

6.5            Conditions
to Issuance of Common Stock. The Company shall not be required to issue or deliver any certificate or certificates for, or make any
book entries evidencing, Shares purchased upon the exercise of rights under the Plan prior to fulfillment of all of the following conditions:

 

		(a)	The admission of such Shares to listing on all stock exchanges, if any, on which the Common Stock is then
listed;

 

		(b)	The completion of any registration or other qualification of such Shares under any state or federal law
or under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory body, that the Administrator
shall, in its absolute discretion, deem necessary or advisable;

 

		(c)	The obtaining of any approval or other clearance from any state or federal governmental agency that the
Administrator shall, in its absolute discretion, determine to be necessary or advisable;

 

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		(d)	The payment to the Company of all amounts that it is required to withhold under federal, state or local
law upon exercise of the rights, if any; and

 

		(e)	The lapse of such reasonable period of time following the exercise of the rights as the Administrator
may from time to time establish for reasons of administrative convenience.

 

6.6            Holding
Period. The Administrator may provide in an Offering Document that Shares acquired pursuant to this Plan will be subject to a minimum
holding period following the applicable Purchase Date, during which the Participant shall not be permitted to sell or otherwise transfer
the Shares.

 

Article VII

WITHDRAWAL; CESSATION OF ELIGIBILITY

 

7.1            Withdrawal.
A Participant may withdraw all but not less than all of the payroll deductions or contributions credited to his or her account and not
yet used to exercise his or her rights under the Plan at any time by giving written notice to the Company in a form acceptable to the
Company no later than one week prior to the end of the Offering Period (or such shorter or longer period specified by the Administrator
in the Offering Document). All of the Participant’s payroll deductions credited to his or her account or contributions made by the
Participant during an Offering Period shall be paid to such Participant as soon as reasonably practicable after receipt of notice of withdrawal
and such Participant’s rights for the Offering Period shall be automatically terminated, and no further payroll deductions for the
purchase of Shares shall be made or contributions accepted for such Offering Period. If a Participant withdraws from an Offering Period,
payroll deductions shall not resume at the beginning of the next Offering Period unless the Participant timely delivers to the Company
a new subscription agreement.

 

7.2            Future
Participation. A Participant’s withdrawal from an Offering Period shall not have any effect upon his or her eligibility to participate
in any similar plan that may hereafter be adopted by the Company or a Designated Subsidiary or in subsequent Offering Periods that commence
after the termination of the Offering Period from which the Participant withdraws.

 

7.3            Cessation
of Eligibility. Upon a Participant’s ceasing to be an Eligible Employee for any reason, he or she shall be deemed to have elected
to withdraw from the Plan pursuant to this Article VII and the payroll deductions credited to such Participant’s account or
contributions made by such Participant during the Offering Period shall be paid to such Participant or, in the case of his or her death,
to the person or persons entitled thereto under Section 12.4, as soon as reasonably practicable, and such Participant’s rights
for the Offering Period shall be automatically terminated.

 

Article VIII

ADJUSTMENTS UPON CHANGES IN STOCK

 

8.1            Changes
in Capitalization. Subject to Section 8.3, in the event that the Administrator determines that any dividend or other distribution
(whether in the form of cash, Common Stock, other securities, or other property), change in control, reorganization, merger, amalgamation,
consolidation, combination, repurchase, recapitalization, liquidation, dissolution, or sale, transfer, exchange or other disposition of
all or substantially all of the assets of the Company, or sale or exchange of Common Stock or other securities of the Company, issuance
of warrants or other rights to purchase Common Stock or other securities of the Company, or other similar corporate transaction or event,
as determined by the Administrator, affects the Common Stock such that an adjustment is determined by the Administrator to be appropriate
in order to prevent dilution or enlargement of the benefits or potential benefits intended by the Company to be made available under the
Plan or with respect to any outstanding purchase rights under the Plan, the Administrator shall make equitable adjustments, if any, to
reflect such change with respect to (a) the aggregate number and type of Shares (or other securities or property) that may be issued
under the Plan (including, but not limited to, adjustments of the limitations in Section 3.1 and the limitations established in each
Offering Document pursuant to Section 4.2 on the maximum number of Shares that may be purchased); (b) the class(es) and number
of Shares and price per Share subject to outstanding rights; and (c) the Purchase Price with respect to any outstanding rights.

 

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8.2            Other
Adjustments. Subject to Section 8.3, in the event of any transaction or event described in Section 8.1 or any unusual or
nonrecurring transactions or events affecting the Company, any affiliate of the Company, or the financial statements of the Company or
any affiliate (including without limitation any change in control), or of changes in Applicable Law or accounting principles, the Administrator,
in its discretion, and on such terms and conditions as it deems appropriate, is hereby authorized to take any one or more of the following
actions whenever the Administrator determines that such action is appropriate in order to prevent the dilution or enlargement of the benefits
or potential benefits intended to be made available under the Plan or with respect to any right under the Plan, to facilitate such transactions
or events or to give effect to such changes in laws, regulations or principles:

 

		(a)	To provide for either (i) termination of any outstanding right in exchange for an amount of cash,
if any, equal to the amount that would have been obtained upon the exercise of such right had such right been currently exercisable or
(ii) the replacement of such outstanding right with other rights or property selected by the Administrator in its sole discretion;

 

		(b)	To provide that the outstanding rights under the Plan shall be assumed by the successor or survivor corporation,
or a parent or subsidiary thereof, or shall be substituted for by similar rights covering the stock of the successor or survivor corporation,
or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and prices;

 

		(c)	To make adjustments in the number and type of Shares (or other securities or property) subject to outstanding
rights under the Plan and/or in the terms and conditions of outstanding rights and rights that may be granted in the future;

 

		(d)	To provide that Participants’ accumulated payroll deductions or contributions may be used to purchase
Common Stock prior to the next occurring Purchase Date on such date as the Administrator determines in its sole discretion and the Participants’
rights under the ongoing Offering Period(s) shall be terminated; and

 

    11

     

    

 

		(e)	To provide that all outstanding rights shall terminate without being exercised.

 

8.3            No
Adjustment Under Certain Circumstances. No adjustment or action described in this Article VIII or in any other provision of the
Plan shall be authorized to the extent that such adjustment or action would cause the Plan to fail to satisfy the requirements of Section 423
of the Code.

 

8.4            No
Other Rights. Except as expressly provided in the Plan, no Participant shall have any rights by reason of any subdivision or consolidation
of shares of stock of any class, the payment of any dividend, any increase or decrease in the number of shares of stock of any class or
any dissolution, liquidation, merger, or consolidation of the Company or any other corporation. Except as expressly provided in the Plan
or pursuant to action of the Administrator under the Plan, no issuance by the Company of shares of stock of any class, or securities convertible
into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number of Shares
subject to outstanding rights under the Plan or the Purchase Price with respect to any outstanding rights.

 

Article IX

AMENDMENT, MODIFICATION AND TERMINATION

 

9.1            Amendment,
Modification and Termination. The Administrator may amend, suspend or terminate the Plan at any time and from time to time; provided,
however, that approval of the Company’s stockholders shall be required to amend the Plan to: (a) increase the aggregate
number, or change the type, of shares that may be sold pursuant to rights under the Plan under Section 3.1 (other than an adjustment
as provided by Article VIII); (b) change the corporations or classes of corporations whose employees may be granted rights under
the Plan; or (c) following the Section 423 Effective Date, change the Plan in any manner that would cause the Plan to no longer
be an “employee stock purchase plan” within the meaning of Section 423(b) of the Code.

 

9.2            Certain
Changes to Plan. Without stockholder consent and without regard to whether any Participant rights may be considered to have been adversely
affected, to the extent permitted by Section 423 of the Code, the Administrator shall be entitled to change or terminate the Offering
Periods, limit the frequency and/or number of changes in the amount withheld from Compensation during an Offering Period, establish the
exchange ratio applicable to amounts withheld in a currency other than U.S. dollars, permit payroll withholding in excess of the amount
designated by a Participant in order to adjust for delays or mistakes in the Company’s processing of payroll withholding elections,
establish reasonable waiting and adjustment periods and/or accounting and crediting procedures to ensure that amounts applied toward the
purchase of Common Stock for each Participant properly correspond with amounts withheld from the Participant’s Compensation, and
establish such other limitations or procedures as the Administrator determines in its sole discretion to be advisable that are consistent
with the Plan.

 

    12

     

    

 

9.3            Actions
In the Event of Unfavorable Financial Accounting Consequences. In the event the Administrator determines that the ongoing operation
of the Plan may result in unfavorable financial accounting consequences, the Administrator may, in its discretion and, to the extent necessary
or desirable, modify or amend the Plan to reduce or eliminate such accounting consequence including, but not limited to:

 

		(a)	altering the Purchase Price for any Offering Period including an Offering Period underway at the time
of the change in Purchase Price;

 

		(b)	shortening any Offering Period so that the Offering Period ends on a new Purchase Date, including an Offering
Period underway at the time of the Administrator action; and

 

		(c)	allocating Shares.

 

Such modifications or amendments shall not require
stockholder approval or the consent of any Participant.

 

9.4            Payments
Upon Termination of Plan. Upon termination of the Plan, the balance in each Participant’s Plan account shall be refunded as
soon as practicable after such termination, without any interest thereon.

 

Article X

TERM OF PLAN

 

The Plan shall be effective
on the Effective Date. The effectiveness of the Plan shall be subject to approval of the Plan by the stockholders of the Company within
twelve months following the date the Plan is first approved by the Board. No right may be granted under the Plan prior to such stockholder
approval. No right may be granted under the Plan after the tenth anniversary of the date of the initial adoption of the Plan by the Board,
unless sooner terminated under Section 9.1 hereof. No rights may be granted under the Plan during any period of suspension of the
Plan or after termination of the Plan.

 

Article XI

ADMINISTRATION

 

11.1          Administrator.
Unless otherwise determined by the Board, the Administrator of the Plan shall be the Compensation Committee of the Board (or another committee
or a subcommittee of the Board to which the Board delegates administration of the Plan) (such committee, the “Committee”).
The Board may at any time vest in the Board any authority or duties for administration of the Plan.

 

11.2          Action
by the Administrator. Unless otherwise established by the Board or in any charter of the Administrator, a majority of the Administrator
shall constitute a quorum. The acts of a majority of the members present at any meeting at which a quorum is present and, subject to Applicable
Law and the Bylaws of the Company, acts approved in writing by a majority of the Administrator in lieu of a meeting, shall be deemed the
acts of the Administrator. Each member of the Administrator is entitled to, in good faith, rely or act upon any report or other information
furnished to that member by any officer or other employee of the Company or any Designated Subsidiary, the Company’s independent
certified public accountants, or any executive compensation consultant or other professional retained by the Company to assist in the
administration of the Plan.

 

    13

     

    

 

11.3         Authority
of Administrator. The Administrator shall have the power, subject to, and within the limitations of, the express provisions of the
Plan:

 

		(a)	To determine when and how rights to purchase Common Stock shall be granted and the provisions of each
offering of such rights (which need not be identical).

 

		(b)	To designate from time to time which Subsidiaries of the Company shall be Designated Subsidiaries, which
designation may be made without the approval of the stockholders of the Company.

 

		(c)	To construe and interpret the Plan and rights granted under it, and to establish, amend and revoke rules and
regulations for its administration. The Administrator, in the exercise of this power, may correct any defect, omission or inconsistency
in the Plan, in a manner and to the extent it shall deem necessary or expedient to make the Plan fully effective.

 

		(d)	To amend, suspend or terminate the Plan as provided in Article IX.

 

		(e)	Generally, to exercise such powers and to perform such acts as the Administrator deems necessary or expedient
to promote the best interests of the Company and its Subsidiaries.

 

11.4          Decisions
Binding. The Administrator’s interpretation of the Plan, any rights granted pursuant to the Plan, any subscription agreement
and all decisions and determinations by the Administrator with respect to the Plan are final, binding, and conclusive on all parties.

 

Article XII

MISCELLANEOUS

 

12.1          Restriction
upon Assignment. A right granted under the Plan shall not be transferable other than by will or the applicable laws of descent and
distribution, and is exercisable during the Participant’s lifetime only by the Participant. Except as provided in Section 12.4
hereof, a right under the Plan may not be exercised to any extent except by the Participant. The Company shall not recognize and shall
be under no duty to recognize any assignment or alienation of the Participant’s interest in the Plan, the Participant’s rights
under the Plan or any rights thereunder.

 

12.2          Rights
as a Stockholder. With respect to Shares subject to a right granted under the Plan, a Participant shall not be deemed to be a stockholder
of the Company, and the Participant shall not have any of the rights or privileges of a stockholder, until such Shares have been issued
to the Participant or his or her nominee following exercise of the Participant’s rights under the Plan. No adjustments shall be
made for dividends (ordinary or extraordinary, whether in cash securities, or other property) or distribution or other rights for which
the record date occurs prior to the date of such issuance, except as otherwise expressly provided herein or as determined by the Administrator.

 

    14

     

    

 

12.3          Interest.
No interest shall accrue on the payroll deductions or contributions of a Participant under the Plan.

 

12.4          Section 409A.
Prior to the Section 423 Effective Date, the Plan and all rights hereunder are intended to be exempt from Section 409A of the
Code as “short-term deferrals” within the meaning of Treasury Regulation Section 1.409A-1(b)(4), and following the Section 423
Effective Date, as “statutory stock options” within the meaning of Treasury Regulation Section 1.409A-1(b)(5)(ii), and
the Plan will be interpreted and administered accordingly. Notwithstanding anything to the contrary in the Plan, none of the Company,
any of its affiliates, the Administrator, or any Person acting on behalf of the Company, any of its affiliates or the Administrator, will
be liable to any Participant or other Person by reason of any acceleration of income, any additional tax, or any other tax or liability
asserted by reason of the failure of the Plan to be exempt from or satisfy the requirements of Section 409A of the Code.

 

12.5         Designation
of Beneficiary.

 

(a)            A
Participant may, in the manner determined by the Administrator, file a written designation of a beneficiary who is to receive any Shares
and/or cash, if any, from the Participant’s account under the Plan in the event of such Participant’s death subsequent to
a Purchase Date on which the Participant’s rights are exercised but prior to delivery to such Participant of such Shares and cash.
In addition, a Participant may file a written designation of a beneficiary who is to receive any cash from the Participant’s account
under the Plan in the event of such Participant’s death prior to exercise of the Participant’s rights under the Plan. If the
Participant is married and resides in a community property state, a designation of a person other than the Participant’s spouse
as his or her beneficiary shall not be effective without the prior written consent of the Participant’s spouse.

 

(b)            Such
designation of beneficiary may be changed by the Participant at any time by written notice to the Company. In the event of the death of
a Participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such Participant’s
death, the Company shall deliver such Shares and/or cash to the executor or administrator of the estate of the Participant, or if no such
executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver such Shares
and/or cash to the spouse or to any one or more dependents or relatives of the Participant, or if no spouse, dependent or relative is
known to the Company, then to such other person as the Company may designate.

 

12.6            Notices.
All notices or other communications by a Participant to the Company under or in connection with the Plan shall be deemed to have been
duly given when received in the form specified by the Company at the location, or by the person, designated by the Company for the receipt
thereof.

 

    15

     

    

 

12.7          Equal
Rights and Privileges. Following the Section 423 Effective Date and subject to Section 5.7, (i) all Eligible Employees
will have equal rights and privileges under this Plan so that this Plan qualifies as an “employee stock purchase plan” within
the meaning of Section 423 of the Code and (ii) any provision of this Plan that is inconsistent with Section 423 of the
Code will, without further act or amendment by the Company, the Board or the Administrator, be reformed to comply with the equal rights
and privileges requirement of Section 423 of the Code.

 

12.8          Use
of Funds. All payroll deductions or contributions received or held by the Company under the Plan may be used by the Company for any
corporate purpose, and the Company shall not be obligated to segregate such payroll deductions or contributions.

 

12.9          Reports.
Statements of account shall be given to Participants at least annually, which statements shall set forth the amounts of payroll deductions
or contributions, the Purchase Price, the number of Shares purchased and the remaining cash balance, if any.

 

12.10        No
Employment Rights. Nothing in the Plan shall be construed to give any person (including any Eligible Employee or Participant) the
right to remain in the employ of the Company or any Parent or Subsidiary or affect the right of the Company or any Parent or Subsidiary
to terminate the employment of any person (including any Eligible Employee or Participant) at any time, with or without cause.

 

12.11        Notice
of Disposition of Shares. With respect to shares acquired pursuant to rights granted under the Plan following the Section 423
Effective Date, each Participant shall give prompt notice to the Company of any disposition or other transfer of any Shares purchased
upon exercise of such right if such disposition or transfer is made: (a) within two years from the Grant Date of the Offering Period
in which the Shares were purchased or (b) within one year after the Purchase Date on which such Shares were purchased. Such notice
shall specify the date of such disposition or other transfer and the amount realized, in cash, other property, assumption of indebtedness
or other consideration, by the Participant in such disposition or other transfer.

 

12.12        Governing
Law. The Plan and any agreements hereunder shall be administered, interpreted and enforced under the internal laws of the State of
Delaware without regard to conflicts of laws thereof or of any other jurisdiction.

 

12.13        Electronic
Forms. To the extent permitted by Applicable Law and in the discretion of the Administrator, an Eligible Employee may submit any form
or notice as set forth herein by means of an electronic form approved by the Administrator. Before the commencement of an Offering Period,
the Administrator shall prescribe the time limits within which any such electronic form shall be submitted to the Administrator with respect
to such Offering Period in order to be a valid election.

 

    16Exhibit 10.10

 

BRC INC.

2022 OMNIBUS INCENTIVE PLAN

 

[FORM OF] STOCK OPTION GRANT NOTICE

 

Pursuant to the terms and conditions of the BRC
Inc. 2022 Omnibus Incentive Plan, as amended from time to time (the “Plan”), BRC Inc., a Delaware public benefit
corporation (the “Company”), hereby grants to the individual listed below (“you”
or the “Participant”) options to purchase the number of Shares (the “Options”) set
forth below. This award of Options (this “Award”) is subject to the terms and conditions set forth herein,
in the Stock Option Agreement attached hereto as Exhibit A (the “Agreement”) and in the Plan,
each of which is incorporated herein by reference. Capitalized terms used but not defined herein shall have the meanings set forth in
the Plan. In addition, by acceptance of the Options, you agree to comply and be bound by the Restrictive Covenants attached hereto as
Exhibit B.

 

	Participant:	________________________________________
	 	 
	Grant Date:	 
	 	 
	Exercise Price per Share:	$__________ per Class A Share
	 	 
	Shares Subject to the Option:	_______________________________Class A Shares
	 	 
	Type of Option:	Non-Qualified Stock Option
	 	 
	Vesting
    Schedule:	Subject to
    Sections 3, 4 and 7 of the Agreement, the Plan and the other terms and conditions set forth herein, the Options shall vest and become
    exercisable according to the following schedule, so long as you remain continuously employed by the Company or an Affiliate from
    the Date of Grant through each such vesting date (each, a “Vesting Date”):

 

	 	Vesting Date
	 	Portion
    of Shares

    Subject to the Option 

    That Become Vested

	 	 
	 	 

 

    	 	 	 

     

    

 

Vesting Commencement Date:

 

Expiration Date:

 

By the Participant’s
signature below, Participant agrees to be bound by the terms of this Grant Notice, the Plan and the Agreement. Participant has reviewed
the Plan, this Grant Notice and the Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing
this Grant Notice and fully understands all provisions of the Plan, this Grant Notice and the Agreement. Participant hereby agrees to
accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions arising under the Plan,
this Grant Notice or the Agreement. This Grant Notice may be executed in one or more counterparts (including portable document format
(.pdf) and facsimile counterparts), each of which shall be deemed to be an original, but all of which together shall constitute one and
the same agreement.

 

Notwithstanding any provision
of this Grant Notice or the Agreement, if Participant has not executed this Grant Notice within 90 days following the Grant Date set
forth above, the aware may be forfeited.

 

[Signature Page Follows]

 

    	 	 	 

     

    

 

IN WITNESS WHEREOF,
the Company has caused this Grant Notice to be executed by an officer thereunto duly authorized, and Participant has executed this Grant
Notice, effective for all purposes as provided above.

 

	 	BRC INC.
	 	 
	 	By:	                   
	 	Name:
	 	Title:
	 	 
	 	PARTICIPANT
	 	 
	 	 
	 	Name:

 

Signature
page

to

stock option grant notice

 

    	 	 	 

     

    

 

EXHIBIT A

 

STOCK OPTION AGREEMENT

 

This Stock Option Agreement
(together with the Grant Notice to which this Agreement is attached, this “Agreement”) is made as of the
Date of Grant set forth in the Grant Notice to which this Agreement is attached by and between BRC Inc., a Delaware public benefit corporation
(the “Company”), and [●] (“Participant”). Capitalized terms used but not specifically
defined herein shall have the meanings specified in the Plan or the Grant Notice.

 

1.            Grant
of Option. In consideration of the Participant’s past and/or continued employment
with, or service to, the Company or an Affiliate and for other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, effective as of the Date of Grant set forth in the Grant Notice (the “Date of Grant”),
the Company hereby grants to Participant the number of Options set forth in the Grant Notice on the terms and conditions set forth in
the Grant Notice, this Agreement and the Plan, which is incorporated herein by reference as a part of this Agreement. In the event of
any inconsistency between the Plan and this Agreement, the terms of the Plan shall control. To the extent vested, each Option represents
the right to purchase one Share at the Exercise Price, subject to the terms and conditions set forth in the Grant Notice, this Agreement
and the Plan.

 

2.            Vesting.
Except as otherwise set forth in Sections 3, 4 or 7, the Options shall vest and become exercisable in accordance
with the schedule set forth in the Grant Notice.

 

3.            Termination
and Forfeiture of Options.

  

(a)           Upon
the Participant’s Termination of Service, all of the Options which are not vested will terminate automatically without any further
action by the Company and will be forfeited without further notice and at no cost to the Company.

 

(b)            Notwithstanding
the foregoing,

 

(i)            upon
the Participant’s Termination of Service by the Company or an Affiliate due to the Participant’s death or Disability, the
portion of the Options which would have vested on the first Vesting Date following such Termination of Service shall immediately vest,
and any and all then-unvested Options will terminate automatically without any further action by the Company and will be forfeited without
further notice and at no cost to the Company; or

 

(ii)            upon
the occurrence of a Change in Control,

 

(A)            to
the extent the Options are not assumed by the surviving entity in connection with such Change in Control, one-hundred percent (100%)
of the Options shall vest as of the date of such Change in Control and be settled pursuant to Section 5 hereof; or

 

(B)            to
the extent the Options are assumed by the surviving entity in connection with such Change in Control, upon the Participant’s Termination
of Service by the Company or an Affiliate without Cause or the Participant’s resignation for Good Reason within the period that
is three (3) months prior to or twelve (12) month’s following period following such Change in Control, one-hundred percent
(100%) of the Options shall vest as of the date of such Termination of Service (or, if later, the date of the Change in Control).

 

    	 	Exhibit A-1	 

     

    

 

(c)            For
purposes of this Section 3:

 

(i)            “Good
Reason” shall mean the occurrence, without the Participant’s written consent, of: (A) a materially adverse change
in the Participant’s reporting obligations; (B) a materially adverse diminution in the Participant’s employment duties,
responsibilities or authority, or the assignment to Participant of duties that are materially and adversely inconsistent with his or
her position; or (C) any reduction in base salary other than any reduction of up to 20% that effects all similarly-situated employees
of the Company; provided, that Participant may terminate his or her employment for Good Reason only if (x) within ninety (90) days
of the date Participant has actual knowledge of the occurrence of an event of Good Reason, Participant provides written notice to the
Company specifying such event, (y) the Company does not cure such event within sixty (60) days of such notice for other events and
(z) Participant actually terminates his or her employment within thirty (30) business days of the end of such cure period.

 

4.            Expiration.
Participant may not exercise any vested and exercisable Options to any extent after the first to occur of the following events, and,
upon the first to occur of the following events, such vested Options shall immediately terminate and expire (without payment of any consideration
therefor):

 

(a)            the
Expiration Date set forth in the Grant Notice;

 

(b)            the
first (1st) anniversary of the date of the Participant’s Termination of Service due to death or Disability;

 

(c)            ninety
(90) days after the date of either (i) the Participant’s Termination of Service without Cause or (i) the Participant’s
resignation; or

 

(d)            immediately
upon either (i) the date of the Participant’s Termination of Service for Cause or (ii) the date of a Restrictive Covenant
Violation.

 

5.            Methods
of Exercise of the Options.

 

(a)           Person
Eligible to Exercise. During the Participant’s lifetime, only Participant may exercise the Option. After the Participant’s
death, any exercisable portion of the Option may, prior to the time the Option expires, be exercised by the legal representative of the
Participant’s estate as provided in the Plan.

 

(b)           Payment
of Exercise Price. Subject to the terms and conditions of the Plan, the Grant Notice and this Agreement, to the extent vested, the
Option may be exercised in whole or in part at any time prior to the Expiration Date by giving written notice of exercise to the Company
in the form prescribed by the Committee from time to time specifying the number of Shares to be purchased, which notice shall be delivered
to the Company in the form, and in the manner designated by the Committee from time to time. Such notice must be accompanied by payment
in full of the Exercise Price as follows: (i) in cash (including check, bank draft or money order payable to the order of the Company
or wire transfer of immediately available funds), (ii) if permitted by the Committee in its sole discretion, by delivering or constructively
tendering Shares to the Company having a Fair Market Value equal to the Exercise Price (provided such Shares used for this purpose must
have been held by Participant for such minimum period of time as may be established from time to time by the Committee to avoid adverse
accounting consequences), (iii) through a “cashless exercise” in accordance with a Company established policy or program
for the same or (iv) any combination of the foregoing. No fraction of a Share shall be issued by the Company upon exercise of the
Option or accepted by the Company in payment of the Exercise Price; rather, Participant shall provide a cash payment for such amount
as is necessary to effect the issuance and acceptance of only whole Shares. No Shares will be issued under this Agreement until payment
for those Shares has been made or provided for in accordance with this Agreement or the Plan. The holder of the Option shall not be,
and shall not have any of the rights or privileges of, a stockholder of the Company in respect of any Shares purchasable upon the exercise
of any part of the Option unless and until such Shares have been issued by the Company to such holder (as evidenced by the appropriate
entry on the books of the Company or of a duly authorized transfer agent of the Company).

 

    	 	 A-2	 

     

    

 

(c)           Tax
Withholding. To the extent that the receipt, vesting or exercise of the Option results in compensation income or wages to Participant
for federal, state, local or other tax purposes, Participant shall make arrangements satisfactory to the Company or its Affiliate for
the satisfaction of obligations for the payment of withholding taxes and other tax obligations relating to the Option, which arrangements
include the delivery of cash or cash equivalents, Shares (including previously owned Shares, net settlement, a broker-assisted sale,
or other cashless withholding or reduction of the amount of Shares otherwise issuable or delivered pursuant to the Option), other property,
or any other legal consideration the Committee deems appropriate. If such tax obligations are satisfied through net settlement or the
surrender of previously owned Shares, the maximum number of Shares that may be so withheld (or surrendered) shall be the number of Shares
that have an aggregate Fair Market Value on the date of withholding or surrender equal to the aggregate amount of such tax liabilities
determined based on the greatest withholding rates for federal, state, local and/or foreign tax purposes, including payroll taxes, that
may be utilized without creating adverse accounting treatment for the Company with respect to the Option, as determined by the Committee.
Any fraction of a Share required to satisfy such tax obligations shall be disregarded and the amount due shall be paid instead in cash
to the Participant. Participant acknowledges that there may be adverse tax consequences upon the receipt, vesting or exercise of the
Option or disposition of the underlying Shares and that Participant has been advised, and hereby is advised, to consult a tax advisor.
Participant represents that Participant is in no manner relying on the Board, the Committee, the Company or any Affiliate or any of their
respective managers, directors, officers, employees or authorized representatives (including attorneys, accountants, consultants, bankers,
lenders, prospective lenders and financial representatives) for tax advice or an assessment of such tax consequences.

 

6.            Employment
Relationship. For purposes of this Agreement, Participant shall be considered to be employed
by the Company or an Affiliate as long as Participant remains an employee of any of the Company, an Affiliate or a corporation or other
entity (or a parent or subsidiary of such corporation or other entity) assuming or substituting a new award for this Award.

 

    	 	 A-3	 

     

    

 

7.            Restrictive
Covenants. Notwithstanding any provision in this Agreement or the Plan to the contrary,
in the event the Committee determines that Participant has failed to abide by the provisions of any confidentiality, non-competition
or non-solicitation covenant in any agreement by and between the Company or any Affiliate and Participant (including, without limitation,
those set forth in Exhibit B) (a “Restrictive Covenant Violation”), then all Options that have
not been exercised as of the date of such determination (whether vested or unvested) will terminate automatically without any further
action by the Company and will be forfeited without further notice and at no cost to the Company.

 

8.            Non-Transferability. 
During the lifetime of the Participant, the Options may not be sold, pledged, assigned or transferred in any manner other than by will
or the laws of descent and distribution, unless and until the Shares underlying the Options have been issued, and all restrictions applicable
to such shares have lapsed. Neither the Options nor any interest or right therein shall be liable for the debts, contracts or engagements
of Participant or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge,
encumbrance, assignment or any other means, whether such disposition be voluntary or involuntary or by operation of law by judgment,
levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof
shall be null and void and of no effect, except to the extent that such disposition is permitted by the preceding sentence.

 

9.            Compliance
with Applicable Law. Notwithstanding any provision of this Agreement to the contrary, the
issuance of Shares hereunder will be subject to compliance with all applicable requirements of applicable law with respect to such securities
and with the requirements of any stock exchange or market system upon which the Shares may then be listed. No Shares will be issued hereunder
if such issuance would constitute a violation of any applicable law or regulation or the requirements of any stock exchange or market
system upon which the Shares may then be listed. In addition, Shares will not be issued hereunder unless (a) a registration statement
under the Securities Act is in effect at the time of such issuance with respect to the shares to be issued or (b) in the opinion
of legal counsel to the Company, the shares to be issued are permitted to be issued in accordance with the terms of an applicable exemption
from the registration requirements of the Securities Act. The inability of the Company to obtain from any regulatory body having jurisdiction
the authority, if any, deemed by the Company’s legal counsel to be necessary for the lawful issuance and sale of any Shares hereunder
will relieve the Company of any liability in respect of the failure to issue such shares as to which such requisite authority has not
been obtained. As a condition to any issuance of Shares hereunder, the Company may require Participant to satisfy any requirements that
may be necessary or appropriate to evidence compliance with any applicable law or regulation and to make any representation or warranty
with respect to such compliance as may be requested by the Company.

 

10.          Rights
as a Stockholder. Participant shall have no rights as a stockholder of the Company with
respect to any Shares that may become deliverable hereunder unless and until Participant has become the holder of record of such Shares,
and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of any such Shares,
except as otherwise specifically provided for in the Plan or this Agreement.

 

    	 	 A-4	 

     

    

 

11.          Execution
of Receipts and Releases. Any issuance or transfer of Share or other property to Participant
or the Participant’s legal representative, heir, legatee or distributee, in accordance with this Agreement shall be in full satisfaction
of all claims of such Person hereunder. As a condition precedent to such payment or issuance, the Company may require Participant or
the Participant’s legal representative, heir, legatee or distributee to execute (and not revoke within any time provided to do
so) a release and receipt therefor in such form as it shall determine appropriate.

 

12.          No
Right to Continued Employment, Service or Awards. Nothing in the adoption of the Plan, nor
the award of the Options thereunder pursuant to the Grant Notice and this Agreement, shall confer upon Participant the right to continued
employment by, or a continued service relationship with, the Company or any Affiliate, or any other entity, or affect in any way the
right of the Company or any such Affiliate, or any other entity to terminate such employment or other service relationship at any time.
Unless otherwise provided in a written employment agreement or by applicable law, the Participant’s employment by the Company,
or any such Affiliate, or any other entity shall be on an at-will basis, and the employment relationship may be terminated at any time
by either Participant or the Company, or any such Affiliate, or other entity for any reason whatsoever, with or without cause or notice.
Any question as to whether and when there has been a termination of such employment, and the cause of such termination, shall be determined
by the Committee or its delegate, and such determination shall be final, conclusive and binding for all purposes. The grant of the Options
is a one-time benefit that was made at the sole discretion of the Company and does not create any contractual or other right to receive
a grant of restricted stock units or other Awards or any payment or benefits in the future, including any adjustment to wages, overtime,
benefits or other compensation. Any future Awards will be granted at the sole discretion of the Company.

 

13.          Notices.
All notices and other communications under this Agreement shall be in writing and shall be delivered to the parties at the following
addresses (or at such other address for a party as shall be specified by like notice):

 

If to the Company, unless otherwise
designated by the Company in a written notice to Participant (or other holder):

BRC Inc.

attn.: General Counsel

1144 500 W.

Salt Lake City, Utah

 

If to the Participant, at the Participant’s last known
address on file with the Company.

 

Any notice that is delivered personally or by
overnight courier or telecopier in the manner provided herein shall be deemed to have been duly given to Participant when it is mailed
by the Company or, if such notice is not mailed to the Participant, upon receipt by the Participant. Any notice that is addressed and
mailed in the manner herein provided shall be conclusively presumed to have been given to the party to whom it is addressed at the close
of business, local time of the recipient, on the fourth day after the day it is so placed in the mail.

 

    	 	 A-5	 

     

    

 

14.          Consent
to Electronic Delivery; Electronic Signature. In lieu of receiving documents in paper format,
Participant agrees, to the fullest extent permitted by law, to accept electronic delivery of any documents that the Company may be required
to deliver (including, but not limited to, prospectuses, prospectus supplements, grant or award notifications and agreements, account
statements, annual and quarterly reports and all other forms of communications) in connection with this and any other Award made or offered
by the Company. Electronic delivery may be via a Company electronic mail system or by reference to a location on a Company intranet to
which Participant has access. Participant hereby consents to any and all procedures the Company has established or may establish for
an electronic signature system for delivery and acceptance of any such documents that the Company may be required to deliver, and agrees
that his or her electronic signature is the same as, and shall have the same force and effect as, his or her manual signature.

 

15.          Agreement
to Furnish Information. Participant agrees to furnish to the Company all information requested
by the Company to enable it to comply with any reporting or other requirement imposed upon the Company by or under any applicable statute
or regulation.

 

16.          Entire
Agreement; Amendment. This Agreement constitutes the entire agreement of the parties with
regard to the subject matter hereof, and contains all the covenants, promises, representations, warranties and agreements between the
parties with respect to the Options granted hereby; provided ̧ however, that the terms of this Agreement shall not modify and shall
be subject to the terms and conditions of any employment, consulting and/or severance agreement between the Company (or an Affiliate
or other entity) and Participant in effect as of the date a determination is to be made under this Agreement. Without limiting the scope
of the preceding sentence, except as provided therein, all prior understandings and agreements, if any, among the parties hereto relating
to the subject matter hereof are hereby null and void and of no further force and effect. The Committee may, in its sole discretion,
amend this Agreement from time to time in any manner that is not inconsistent with the Plan; provided, however, that except as otherwise
provided in the Plan or this Agreement, any such amendment that materially and adversely reduces the rights of Participant shall be effective
only if it is in writing and signed by both Participant and an authorized officer of the Company.

 

17.            Severability
and Waiver. If a court of competent jurisdiction determines that any provision of this Agreement
is invalid or unenforceable, then the invalidity or unenforceability of such provision shall not affect the validity or enforceability
of any other provision of this Agreement, and all other provisions shall remain in full force and effect. Waiver by any party of any
breach of this Agreement or failure to exercise any right hereunder shall not be deemed to be a waiver of any other breach or right.
The failure of any party to take action by reason of such breach or to exercise any such right shall not deprive the party of the right
to take action at any time while or after such breach or condition giving rise to such rights continues.

 

    	 	 A-6	 

     

    

 

18.          Company
Recoupment of Awards. The Participant’s rights with respect to this Award shall in
all events be subject to (a) all rights that the Company may have under any Company recoupment policy or any other agreement or
arrangement with the Participant, and (b) all rights and obligations that the Company may have regarding the clawback of “incentive-based
compensation” under Section 10D of the Exchange Act and any applicable rules and regulations promulgated thereunder form
time to time by the U.S. Securities and Exchange Commission.

 

19.          Governing
Law.
This Agreement shall be governed by and construed in accordance with the laws of the State of DELAWARE applicable to contracts made and
to be performed therein, exclusive of the conflict of laws provisions of DELAWARE LAW.

 

20.          Successors
and Assigns.  The Company may assign any of its rights under this Agreement without the
Participant’s consent. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company.
Subject to the restrictions on transfer set forth herein and in the Plan, this Agreement will be binding upon Participant and the Participant's
beneficiaries, executors, administrators and the Person(s) to whom the Options may be transferred by will or the laws of descent
or distribution.

 

21.          Headings;
References; Interpretation. Headings are for convenience only and are not deemed to be part
of this Agreement. The words “hereof,” “herein” and “hereunder” and words of similar import, when
used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement. All references
herein to Sections shall, unless the context requires a different construction, be deemed to be references to the Sections of this Agreement.
The word “or” as used herein is not exclusive and is deemed to have the meaning “and/or.” All references to “including”
shall be construed as meaning “including without limitation.” Unless the context requires otherwise, all references herein
to a law, agreement, instrument or other document shall be deemed to refer to such law, agreement, instrument or other document as amended,
supplemented, modified and restated from time to time to the extent permitted by the provisions thereof. All references to “dollars”
or “$” in this Agreement refer to United States dollars. Whenever the context may require, any pronouns used herein shall
include the corresponding masculine, feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural and
vice versa. Neither this Agreement nor any uncertainty or ambiguity herein shall be construed or resolved against any party hereto, whether
under any rule of construction or otherwise. On the contrary, this Agreement has been reviewed by each of the parties hereto and
shall be construed and interpreted according to the ordinary meaning of the words used so as to fairly accomplish the purposes and intentions
of the parties hereto.

 

22.          Counterparts. 
The Grant Notice may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall
constitute one instrument. Delivery of an executed counterpart of the Grant Notice by facsimile or portable document format (.pdf) attachment
to electronic mail shall be effective as delivery of a manually executed counterpart of the Grant Notice.

 

    	 	 A-7	 

     

    

 

23.          Section 409A.
Notwithstanding anything herein or in the Plan to the contrary, the Options
granted pursuant to this Agreement are intended to be exempt from the applicable requirements of Section 409A of the Code and shall
be limited, construed and interpreted in accordance with such intent. Notwithstanding the foregoing, the Company and its Affiliates
make no representations that the Options provided under this Agreement are exempt from or compliant with Section 409A
of the Code and in no event shall the Company or any Affiliate be liable for all or any portion of any taxes, penalties, interest
or other expenses that may be incurred by Participant on account of non-compliance with Section 409A
of the Code.

 

[Remainder of Page Intentionally Left Blank]

 

    	 	 A-8	 

     

    

 

EXHIBIT B

 

    	 	 Exhibit B-1

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