Document:

EX-10.7

 Exhibit 10.7 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (this “Agreement”), dated as of October 25, 2019, is entered into by and between Virgin
Galactic Holdings, LLC, a Delaware limited liability company (“OpCo”), Virgin Galactic Holdings, Inc. (“PubCo”) and Jon Campagna (the “Executive”). 

WHEREAS, OpCo and PubCo (collectively, the “Company”) desire to employ the Executive and the Company and the Executive
desire to enter into an agreement embodying the terms of such employment, subject to the terms and conditions of this Agreement. 
 NOW,
THEREFORE, IT IS HEREBY AGREED AS FOLLOWS: 
 1.    Employment Period. Effective as of the closing of the
Business Combination (the “Effective Date”), the Executive’s employment hereunder shall be for a term (the “Employment Period”) commencing on the Effective Date and continuing indefinitely until
terminated in accordance with the terms of this Agreement. Notwithstanding anything to the contrary in the foregoing, the Executive’s employment hereunder is terminable at will by the Company or by the Executive at any time (for any reason or
for no reason), subject to the provisions of Section 4 hereof. 
 2.    Terms of Employment. 

(a)    Position and Duties. 

(i)    Role and Responsibilities. During the Employment Period, the Executive shall serve as Chief
Financial Officer of the Company, and shall perform such employment duties as are usual and customary for such position. The Executive shall report directly to the Chief Executive Officer of the Company (the “CEO”). At the
Company’s request, the Executive shall serve the Company and/or its subsidiaries and affiliates in other capacities in addition to the foregoing, consistent with the Executive’s position hereunder. In the event that the Executive, during
the Employment Period, serves in any one or more of such additional capacities, the Executive’s compensation shall not be increased beyond that specified in Section 2(b) hereof. In addition, in the event the Executive’s service in one
or more of such additional capacities is terminated, the Executive’s compensation, as specified in Section 2(b) hereof, shall not be diminished or reduced in any manner as a result of such termination provided that the Executive otherwise
remains employed under the terms of this Agreement. 
 (ii)    Exclusivity. During the Employment
Period, and excluding any periods of leave to which the Executive may be entitled, the Executive agrees to devote his full business time and attention to the business and affairs of the Company. Notwithstanding the foregoing, during the Employment
Period, it shall not be a violation of this Agreement for the Executive to: (A) serve on boards, committees or similar bodies of charitable or nonprofit organizations, (B) fulfill limited teaching, speaking and writing engagements, and
(C) manage his personal investments, in each case, so long as such activities do not individually or in the aggregate materially interfere or conflict with the performance of the Executive’s duties and responsibilities under this
Agreement; provided, that with respect to the activities in subclauses (A) and/or (B), the Executive receives prior written approval from the Board. 

(iii)    Principal Location. During the Employment Period, the Executive shall perform the services
required by this Agreement at the Company’s offices located in Los Angeles, California (the “Principal Location”), provided, however, that the parties acknowledge and agree that the Executive may be required to travel
with relative frequency to Mojave, California and Las Cruces, New Mexico as well as other locations as may be necessary to fulfill the Executive’s duties and responsibilities hereunder. 

 (b)    Compensation, Benefits, Etc. 

(i)    Base Salary. Effective as of the Effective Date and during the Employment Period, the
Executive shall receive a base salary (the “Base Salary”) of $350,000 per annum. The Base Salary shall be paid in accordance with the Company’s normal payroll practices for executive salaries generally, but no less often
than monthly and shall be pro-rated for partial years of employment. The Base Salary may be increased in the discretion of the Board or such subcommittee, but not reduced, and the term “Base Salary”
as utilized in this Agreement shall refer to the Base Salary as so increased. 
 (iii)    Annual Cash
Bonus. For each calendar year ending during the Employment Period, the Executive shall be eligible to earn a cash performance bonus (an “Annual Bonus”) under the Company’s bonus plan or program applicable to senior
executives targeted at 50% of Executive’s Base Salary (the “Target Bonus”). The actual amount of any Annual Bonus shall be determined by the Board (or a subcommittee thereof) in its discretion, based on the achievement
of individual and/or Company performance goals as determined by the Board (or a subcommittee thereof). The payment of any Annual Bonus, to the extent any Annual Bonus becomes payable, will be made on the date on which annual bonuses are paid
generally to the Company’s senior executives, but in no event later than March 15th of the calendar year following the calendar year in which such Annual Bonus was earned, subject to the Executive’s continued employment through the payment
date. 
 (v)    Equity Awards. 

(A)    PubCo shall grant to the Executive two nonqualified options to purchase an aggregate of 611,124
shares of PubCo common stock (each, a “Stock Option”). Each Stock Option shall cover an equal number of shares of PubCo common stock, and the first Stock Option shall be granted on the Effective Date (the “Initial
Option”) and the second Stock Option shall be granted on the first anniversary of the Effective Date (the “Anniversary Option”), subject to the Executive’s continued employment with the Company through the
applicable grant date. Each Stock Option shall have an exercise price per share equal to the Fair Market Value (as defined in PubCo’s 2019 Incentive Award Plan (the “Plan”) on the applicable grant date and shall have an
outside expiration date of ten years from the grant date. In addition, PubCo shall grant to the Executive a restricted stock unit award covering 92,783 shares of PubCo common stock (the “RSU Award”). The RSU Award shall be
granted upon effectiveness of the Form S-8 with respect to PubCo’s common stock issuable under the Plan, subject to the Executive’s continued employment through the grant date. 

(B)    Subject to the Executive’s continued service with the Company through the applicable vesting
date, each of the Initial Option and the RSU Award shall vest and (as applicable) become exercisable (x) with respect to 25% of the underlying shares on the first anniversary of the Effective Date, and (y) as to the remaining 75% of the
underlying shares, in substantially equal installments on each of the 36 monthly anniversaries thereafter. In addition, 

  
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the RSU Award shall vest on an applicable vesting date only if the Fair Market Value per share is greater than $10 (and any restricted stock units that otherwise would vest on such vesting date
shall be forfeited and canceled without consideration therefor). 
 (C)    Subject to the
Executive’s continued service with the Company through the applicable vesting date, the Anniversary Option shall vest and become exercisable (x) with respect to 25% of the underlying shares on the first anniversary of the grant date, and
(y) as to the remaining 75% of the underlying shares, in substantially equal installments on each of the 36 monthly anniversaries thereafter. 

(D)    The terms and conditions of the Stock Options and the RSU Award will be set forth in separate award
agreements in forms prescribed by PubCo, to be entered into by PubCo and the Executive (the “Award Agreements”). Except as otherwise specifically provided in this Agreement, the Stock Options and the RSU Award shall be
governed in all respects by the terms of and conditions of the Plan and the applicable Award Agreement. 

(vi)    Benefits. During the Employment Period, the Executive (and the Executive’s spouse
and/or eligible dependents to the extent provided in the applicable plans and programs) shall be eligible to participate in and be covered under the health and welfare benefit plans and programs maintained by the Company for the benefit of its
employees from time to time, pursuant to the terms of such plans and programs including any medical, life, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs on the same terms and
conditions as those applicable to similarly situated senior executives. In addition, during the Employment Period, the Executive shall be eligible to participate in any retirement, savings and other employee benefit plans and programs maintained
from time to time by the Company for the benefit of its senior executive officers. Nothing contained in this Section 2(b)(vi) shall create or be deemed to create any obligation on the part of the Company to adopt or maintain any health,
welfare, retirement or other benefit plan or program at any time or to create any limitation on the Company’s ability to modify or terminate any such plan or program. 

(vii)    Expenses. During the Employment Period, the Executive shall be entitled to receive prompt
reimbursement for all reasonable business expenses incurred by the Executive in connection with the performance of his duties under this Agreement in accordance with the policies, practices and procedures of the Company provided to employees of the
Company. 
 (viii)    Fringe Benefits. During the Employment Period, the Executive shall be
eligible to receive such fringe benefits and perquisites as are provided by the Company to its employees from time to time, in accordance with the policies, practices and procedures of the Company, and shall receive such additional fringe benefits
and perquisites as the Company may, in its discretion, from time-to-time provide. 

(ix)    Vacation. During the Employment Period, the Executive shall be entitled to paid vacation in
accordance with the plans, policies, programs and practices of the Company applicable to its employees, but in no event shall the Executive accrue less than 160 hours of vacation per calendar year (pro-rated
for any partial year of service); provided, however, that the Executive shall not accrue any vacation time in excess of 280 hours (the “Accrual Limit”), and shall cease accruing vacation time if the Executive’s accrued
vacation reaches the Accrual Limit until such time as the Executive’s accrued vacation time drops below the Accrual Limit. 

  
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 3.    Termination of Employment. 

(a)    Death or Disability. The Executive’s employment shall terminate automatically upon the Executive’s
death during the Employment Period. Either the Company or the Executive may terminate the Executive’s employment in the event of the Executive’s Disability during the Employment Period. 

(b)    Termination by the Company. The Company may terminate the Executive’s employment during the Employment
Period for Cause or without Cause. 
 (c)    Termination by the Executive. The Executive’s employment may be
terminated by the Executive for any or no reason, including with Good Reason or by the Executive without Good Reason. 

(d)    Notice of Termination. Any termination of employment (other than due to the Executive’s death), shall
be communicated by a Notice of Termination to the other parties hereto given in accordance with Section 11(b) hereof. The failure by the Executive or the Company to set forth in the Notice of Termination any fact or circumstance which
contributes to a showing of Good Reason or Cause shall not waive any right of the Executive or the Company, respectively, hereunder or preclude the Executive or the Company, respectively, from asserting such fact or circumstance in enforcing the
Executive’s or the Company’s rights hereunder. 
 (e)    Termination of Offices and Directorships; Return
of Property. Upon termination of the Executive’s employment for any reason, unless otherwise specified in a written agreement between the Executive and the Company, the Executive shall be deemed to have resigned from all offices,
directorships, and other employment positions if any, then held with the Company, and shall take all actions reasonably requested by the Company to effectuate the foregoing. In addition, upon the termination of the Executive’s employment for
any reason, the Executive agrees to return to the Company all documents of the Company and its affiliates (and all copies thereof) and all other Company or Company affiliate property that the Executive has in his possession, custody or control. Such
property includes, without limitation: (i) any materials of any kind that the Executive knows contain or embody any proprietary or confidential information of the Company or an affiliate of the Company (and all reproductions thereof), (ii)
computers (including, but not limited to, laptop computers, desktop computers and similar devices) and other portable electronic devices (including, but not limited to, tablet computers), cellular phones/smartphones, credit cards, phone cards, entry
cards, identification badges and keys, and (iii) any correspondence, drawings, manuals, letters, notes, notebooks, reports, programs, plans, proposals, financial documents, or any other documents concerning the customers, business plans,
marketing strategies, products and/or processes of the Company or any of its affiliates and any information received from the Company or any of its affiliates regarding third parties. 

4.    Obligations of the Company upon Termination. 

(a)    Accrued Obligations. In the event that the Executive’s employment under this Agreement terminates during
the Employment Period for any reason, the Company will pay or provide to the Executive: (i) any earned but unpaid Base Salary, (ii) reimbursement of any business expenses incurred by the Executive prior to the Date of Termination that are
reimbursable in accordance with Section 2(b)(vii) hereof and (iii) any vested amounts due to the Executive under any plan, program or policy of the Company (together, the “Accrued Obligations”). The Accrued
Obligations described in clauses (i) – (ii) of the preceding sentence shall be paid within 30 days after the Date of Termination (or such earlier date as may be required by applicable law) and the Accrued Obligations described in clause
(iii) of the preceding sentence shall be paid in accordance with the terms of the governing plan or program. 

  
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 (b)    Qualifying Termination. Subject to Sections 4(c), 4(e) and
11(d), and the Executive’s continued compliance with the provisions of Section 7 hereof, if the Executive’s employment with the Company is terminated during the Employment Period due to a Qualifying Termination, then in addition to
the Accrued Obligations: 
 (i)    Cash Severance. The Company shall pay the Executive an amount
equal to 0.5 (the “Severance Multiplier”) multiplied by the sum of (i) the Base Salary and (ii) the Target Bonus (the “Severance”); provided, however, that in the event the Qualifying
Termination occurs on or within 24 months following a Change in Control, then the Severance Multiplier instead shall be 1.0. The Severance shall be paid in substantially equal installments in accordance with the Company’s normal payroll
practices over the six-month period following the Executive’s Termination Date, but shall commence on the first payroll date following the effective date of the Release (as defined below), and amounts
otherwise payable prior to such first payroll date shall be paid on such date without interest thereon; provided, however that if the Termination Date occurs on or within 24-months following a
Change in Control that constitutes a “change in control event” for purposes of Section 409A (as defined below), the Severance shall be paid in a single lump sum cash payment within 30 days following the Date of Termination. 

(ii)     COBRA. Subject to the Executive’s valid election to continue healthcare coverage under
Section 4980B of the Code, the Company shall continue to provide, during the COBRA Period, the Executive and the Executive’s eligible dependents with coverage under its group health plans at the same levels and the same cost to the
Executive as would have applied if the Executive’s employment had not been terminated based on the Executive’s elections in effect on the Date of Termination, provided, however, that (A) if any plan pursuant to
which such benefits are provided is not, or ceases prior to the expiration of the period of continuation coverage to be, exempt from the application of Section 409A under Treasury Regulation
Section 1.409A-1(a)(5), or (B) the Company is otherwise unable to continue to cover the Executive under its group health plans without incurring penalties (including without limitation, pursuant to
Section 2716 of the Public Health Service Act or the Patient Protection and Affordable Care Act), then, in either case, an amount equal to each remaining Company subsidy shall thereafter be paid to the Executive in substantially equal monthly
installments over the continuation coverage period (or the remaining portion thereof). For purposes of this Agreement, “COBRA Period” shall mean the period beginning on the Date of Termination and ending on the six-month anniversary thereof; provided, however, that in the event the Qualifying Termination occurs on or within 24 months following a Change in Control, then the COBRA Period instead shall end on the 12-month anniversary thereof. 
 (iii)     Equity
Acceleration. In addition, in the event that the Qualifying Termination occurs on or within 24 months following a Change in Control, then all outstanding PubCo equity awards that vest based solely on the passage of time that are held by the
Executive on the Date of Termination immediately shall become fully vested and, to the extent applicable, exercisable. 

(c)    Release. Notwithstanding the foregoing, it shall be a condition to the Executive’s right to receive the
amounts provided for in Section 4(b) hereof that the Executive execute and deliver to the Company an effective release of claims in substantially the form attached hereto as Exhibit A (the “Release”) within 21
days (or, to the extent required by law, 45 days) following the Date of Termination and that the Executive not revoke such Release during any applicable revocation period. For the avoidance of doubt, all equity awards eligible for accelerated
vesting pursuant to Section 4(b) hereof shall remain outstanding and eligible to vest following the Date of Termination and shall actually vest and become exercisable (if applicable) and non-forfeitable
upon the effectiveness of the Release. 

  
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 (d)    Other Terminations. If the Executive’s employment is
terminated for any reason not described in Section 4(b) hereof, the Company will pay the Executive only the Accrued Obligations. 
 (e)
    Six-Month Delay. Notwithstanding anything to the contrary in this Agreement, no compensation or benefits, including without limitation any severance payments or benefits payable
under this Section 4, shall be paid to the Executive during the six-month period following the Executive’s Separation from Service if the Company determines that paying such amounts at the time or
times indicated in this Agreement would be a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first day of the seventh month
following the date of Separation from Service (or such earlier date upon which such amount can be paid under Section 409A without resulting in a prohibited distribution, including as a result of the Executive’s death), the Company shall
pay the Executive a lump-sum amount equal to the cumulative amount that would have otherwise been payable to the Executive during such period. 

(f)    Exclusive Benefits. Except as expressly provided in this Section 4 and subject to Section 5
hereof, the Executive shall not be entitled to any additional payments or benefits upon or in connection with the Executive’s termination of employment. 

5.    Non-Exclusivity of Rights. Amounts which are vested benefits or which
the Executive is otherwise entitled to receive under any plan, policy, practice or program of or any contract or agreement with the Company at or subsequent to the Date of Termination shall be payable in accordance with such plan, policy, practice
or program or contract or agreement except as explicitly modified by this Agreement. 
 6.    Excess Parachute
Payments; Limitation on Payments. 
 (a)    Best Pay Cap. Notwithstanding any other provision of this
Agreement, in the event that any payment or benefit received or to be received by the Executive (including any payment or benefit received in connection with a termination of the Executive’s employment, whether pursuant to the terms of this
Agreement or any other plan, arrangement or agreement) (all such payments and benefits, including the payments and benefits under Section 4 hereof, being hereinafter referred to as the “Total Payments”) would be subject
(in whole or part), to the excise tax imposed under Section 4999 of the Code (the “Excise Tax”), then, after taking into account any reduction in the Total Payments provided by reason of Section 280G of the Code in
such other plan, arrangement or agreement, the cash severance payments under this Agreement shall first be reduced, and the noncash severance payments hereunder shall thereafter be reduced, to the extent necessary so that no portion of the Total
Payments is subject to the Excise Tax but only if (i) the net amount of such Total Payments, as so reduced (and after subtracting the net amount of federal, state and local income taxes on such reduced Total Payments and after taking into
account the phase out of itemized deductions and personal exemptions attributable to such reduced Total Payments) is greater than or equal to (ii) the net amount of such Total Payments without such reduction (but after subtracting the net
amount of federal, state and local income taxes on such Total Payments and the amount of Excise Tax to which the Executive would be subject in respect of such unreduced Total Payments and after taking into account the phase out of itemized
deductions and personal exemptions attributable to such unreduced Total Payments). 
 (b)    Certain Exclusions.
For purposes of determining whether and the extent to which the Total Payments will be subject to the Excise Tax, (i) no portion of the Total Payments the receipt or enjoyment of which the Executive shall have waived at such time and in such
manner as not to constitute a “payment” within the meaning of Section 280G(b) of the Code shall be taken into account; 

  
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(ii) no portion of the Total Payments shall be taken into account which, in the written opinion of an independent, nationally recognized accounting firm (the “Independent
Advisors”) selected by the Company, does not constitute a “parachute payment” within the meaning of Section 280G(b)(2) of the Code (including by reason of Section 280G(b)(4)(A) of the Code) and, in calculating the
Excise Tax, no portion of such Total Payments shall be taken into account which, in the opinion of Independent Advisors, constitutes reasonable compensation for services actually rendered, within the meaning of Section 280G(b)(4)(B) of the
Code, in excess of the “base amount” (as defined in Section 280G(b)(3) of the Code) allocable to such reasonable compensation; and (iii) the value of any non-cash benefit or any deferred
payment or benefit included in the Total Payments shall be determined by the Independent Advisors in accordance with the principles of Sections 280G(d)(3) and (4) of the Code. 

7.    Restrictive Covenants. 

(a)    The Executive shall hold in a fiduciary capacity for the benefit of the Company all secret or confidential
information, knowledge or data relating to the Company and its subsidiaries and affiliates, which shall have been obtained by the Executive in connection with the Executive’s employment by the Company and which shall not be or become public
knowledge (other than by acts by the Executive or representatives of the Executive in violation of this Agreement). After termination of the Executive’s employment with the Company, the Executive shall not, without the prior written consent of
the Company or as may otherwise be required by law or legal process, communicate or divulge any such information, knowledge or data, to anyone other than the Company and those designated by it; provided, however, that if the Executive receives
actual notice that the Executive is or may be required by law or legal process to communicate or divulge any such information, knowledge or data, the Executive shall promptly so notify the Company. 

(b)    While employed by the Company, the Executive shall not be engaged in any other business activity that would be
competitive with the business of the Company and its subsidiaries or affiliates. In addition, while employed by the Company and, for a period of 12 months after the Date of Termination, the Executive shall not directly or indirectly solicit, induce,
or encourage any employee or consultant of the Company and/or its subsidiaries and affiliates to terminate their employment or other relationship with the Company and its subsidiaries and affiliates or to cease to render services to the Company
and/or its subsidiaries and affiliates and the Executive shall not initiate discussion with any such person for any such purpose or authorize or knowingly cooperate with the taking of any such actions by any other individual or entity except, in
each case, to the extent the foregoing occurs as a result of general advertisements or other solicitations not specifically targeted to such employees and consultants. During his employment with the Company and thereafter, the Executive shall not
use any trade secret of the Company or its subsidiaries or affiliates to solicit, induce, or encourage any customer, client, vendor, or other party doing business with any member of the Company and its subsidiaries and affiliates to terminate its
relationship therewith or transfer its business from any member of the Company and its subsidiaries and affiliates and the Executive shall not initiate discussion with any such person for any such purpose or authorize or knowingly cooperate with the
taking of any such actions by any other individual or entity. 
 (c)    Subject to Section 7(f), during the
Executive’s service with the Company and thereafter, excepting any litigation between the parties, (i) the Executive agrees not to publish or disseminate, directly or indirectly, any statements, whether written or oral, that are or could
be harmful to or reflect negatively on any of the Company or any of its subsidiaries or affiliates, or that are otherwise disparaging of any policies, procedures, practices, decision-making, conduct, professionalism or compliance with standards of
the Company, its affiliates or any of their past or present officers, directors, employees, advisors or agents, and (ii) the Company agrees to instruct its directors and executive officers not to publish or disseminate, directly or indirectly,
any statements, whether written or oral, that are or could be harmful to or reflect negatively on the Executive’s personal or business reputation or business. 

  
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 (d)    In recognition of the fact that irreparable injury will result to
the Company in the event of a breach by the Executive of his obligations under Sections 7(a)-(c) hereof, that monetary damages for such breach would not be readily calculable, and that the Company would not have an adequate remedy at law therefor,
the Executive acknowledges, consents and agrees that in the event of such breach, or the threat thereof, the Company shall be entitled, in addition to any other legal remedies and damages available, to specific performance thereof and to temporary
and permanent injunctive relief (without the necessity of posting a bond) to restrain the violation or threatened violation of such obligations by the Executive. 

(e)    The parties acknowledge and agree that Virgin Galactic, LLC and the Executive previously entered into an
Employment, Confidential Information and Intellectual Property Assignment Agreement, and that such agreement shall be additional to, and not in limitation of, the covenants contained in this Section 7. 

(f)    Notwithstanding anything in this Agreement or the Confidentiality Agreement to the contrary, nothing contained in
this Agreement shall prohibit either party (or either party’s attorney(s)) from (i) filing a charge with, reporting possible violations of federal law or regulation to, participating in any investigation by, or cooperating with the U.S.
Securities and Exchange Commission, the Financial Industry Regulatory Authority, the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, the U.S. Commodity Futures Trading
Commission, the U.S. Department of Justice or any other securities regulatory agency, self-regulatory authority or federal, state or local regulatory authority (collectively, “Government Agencies”), or making other
disclosures that are protected under the whistleblower provisions of applicable law or regulation, (ii) communicating directly with, cooperating with, or providing information (including trade secrets) in confidence to any Government Agencies
for the purpose of reporting or investigating a suspected violation of law, or from providing such information to such party’s attorney(s) or in a sealed complaint or other document filed in a lawsuit or other governmental proceeding, and/or
(iii) receiving an award for information provided to any Government Agency. Pursuant to 18 USC Section 1833(b), the Executive will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a
trade secret that is made: (x) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or
(y) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Further, nothing in this Agreement is intended to or shall preclude either party from providing truthful testimony in response to a
valid subpoena, court order, regulatory request or other judicial, administrative or legal process or otherwise as required by law. If the Executive is required to provide testimony, then unless otherwise directed or requested by a Government Agency
or law enforcement, the Executive shall notify the Company as soon as reasonably practicable after receiving any such request of the anticipated testimony. 

8.    Representations. The Executive hereby represents and warrants to the Company that (a) the Executive is
entering into this Agreement voluntarily and that the performance of the Executive’s obligations hereunder will not violate any agreement between the Executive and any other person, firm, organization or other entity, and (b) the Executive
is not bound by the terms of any agreement with any previous employer or other party to refrain from competing, directly or indirectly, with the business of such previous employer or other party that would be violated by the Executive’s
entering into this Agreement and/or providing services to the Company pursuant to the terms of this Agreement. 

  
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 9.    Successors. 

(a)    This Agreement is personal to the Executive and, without the prior written consent of the Company, shall not be
assignable by the Executive otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the Executive’s legal representatives. 

(b)    This Agreement shall inure to the benefit of and be binding upon OpCo, PubCo and their respective successors and
assigns. 
 10.    Certain Definitions. 

(a)    “Board” means the Board of Directors of PubCo. 

(b)    “Business Combination” means the transactions contemplated by that certain Agreement and
Plan of Merger, dated as of July 9, 2019 as amended October 2, 2019 (the “Merger Agreement”), by and among Vieco 10 Limited, a company limited by shares under the laws of the British Virgin Islands, Foundation Sub
1, Inc., a Delaware corporation and a direct wholly owned subsidiary of Social Capital Hedosophia Holdings, Corp., a Cayman Island exempted Company (“SCH”) Foundation Sub 2, Inc., a Delaware corporation and a direct wholly
owned subsidiary of SCH, Foundation Sub LLC, a Delaware limited liability company and a direct wholly owned subsidiary of SCH, TSC Vehicle Holdings, Inc., a Delaware corporation and an indirect wholly owned subsidiary of Vieco 10 Limited, Virgin
Galactic Vehicle Holdings, Inc., a Delaware corporation and an indirect wholly owned subsidiary of Vieco 10 Limited, and VGH, LLC, a Delaware limited liability company and a direct wholly owned subsidiary of Vieco 10 Limited. 

(c)    “Cause” means the occurrence of any one or more of the following events: 

(i)    the Executive’s willful failure to substantially perform his duties with the Company (other
than any such failure resulting from the Executive’s incapacity due to physical or mental illness or any such actual or anticipated failure after his issuance of a Notice of Termination for Good Reason), including the Executive’s failure
to follow any lawful directive from the CEO within the reasonable scope of the Executive’s duties and the Executive’s failure to correct the same (if capable of correction, as determined by the CEO), within 30 days after a written notice
is delivered to the Executive, which demand specifically identifies the manner in which the CEO believes that the Executive has not performed his duties; 

(ii)    the Executive’s commission of, indictment for or entry of a plea of guilty or nolo
contendere to a felony crime (excluding vehicular crimes) or a crime of moral turpitude; 

(iii)    the Executive’s material breach of any material obligation under any written agreement with
the Company or its affiliates or under any applicable policy of the Company or its affiliates (including any code of conduct or harassment policies), and the Executive’s failure to correct the same (if capable of correction, as determined by
the CEO), within 30 days after a written notice is delivered to the Executive, which demand specifically identifies the manner in which the CEO believes that the Executive has materially breached such agreement; 

(iv)    any act of fraud, embezzlement, theft or misappropriation from the Company or its affiliates by the
Executive; 

  
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 (v)    the Executive’s willful misconduct or gross
negligence with respect to any material aspect of the Company’s business or a material breach by the Executive of his fiduciary duty to the Company or its affiliates, which willful misconduct, gross negligence or material breach has a material
and demonstrable adverse effect on the Company or its affiliates; 
 (vi)    the Executive’s
commission of an act of material dishonesty resulting in material reputational, economic or financial injury to the Company or its affiliates. 

(d)    “Change in Control” has the meaning set forth in the Plan. 

(e)    “Code” means the Internal Revenue Code of 1986, as amended and the regulations thereunder.

 (f)    “Date of Termination” means the date on which the Executive’s employment with the
Company terminates. 
 (g)    “Disability” means that the Executive has become entitled to
receive benefits under an applicable Company long-term disability plan or, if no such plan covers the Executive, as determined in the reasonable discretion of the Board. 

(h)    “Good Reason” means the occurrence of any one or more of the following events without the
Executive’s prior written consent, unless the Company fully corrects the circumstances constituting Good Reason (provided such circumstances are capable of correction) as provided below: 

(i)     a material diminution in the Executive’s Base Salary or Target Bonus; 

(ii)     a change in the geographic location of the Principal Location by more than 35 miles from its
existing location; 
 (iii)     a material diminution in the Executive’s title, authority or duties,
as contemplated by this Agreement, excluding for this purpose any isolated, insubstantial or inadvertent actions not taken in bad faith and which are remedied by the Company promptly after receipt of notice thereof given by the Executive; 

(iv)     the Company’s material breach of this Agreement. 

Notwithstanding the foregoing, the Executive will not be deemed to have resigned for Good Reason unless (1) the Executive
provides the Company with written notice setting forth in reasonable detail the facts and circumstances claimed by the Executive to constitute Good Reason within 30 days after the date of the occurrence of any event that the Executive knows or
should reasonably have known to constitute Good Reason, (2) the Company fails to cure such acts or omissions within 30 days following its receipt of such notice, and (3) the effective date of the Executive’s termination for Good
Reason occurs no later than 60 days after the expiration of the Company’s cure period. 
 (i)    “Notice
of Termination” means a written notice which (i) indicates the specific termination provision in this Agreement relied upon, (ii) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for
termination of the Executive’s employment under the provision so indicated and (iii) if the Date of Termination is other than the date of receipt of such notice, specifies the termination date (which date shall be not more than 30 days
after the giving of such notice unless as otherwise provided upon a termination for Good Reason). 

  
 10 

 (j)    “Qualifying Termination” means a
termination of the Executive’s employment (i) by the Company without Cause (other than by reason of the Executive’s death or Disability), or (ii) by the Executive for Good Reason. 

(k)     “Section 409A” means Section 409A of the Code and
Department of Treasury regulations and other interpretive guidance issued thereunder. 

(l)    “Separation from Service” means a “separation from service” (within the meaning
of Section 409A). 
 11.    Miscellaneous. 

(a)    Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of
California, without reference to principles of conflict of laws. The captions of this Agreement are not part of the provisions hereof and shall have no force or effect. 

(b)    Notices. All notices and other communications hereunder shall be in writing and shall be given by hand
delivery to the other party or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
 If to
the Executive: at the Executive’s most recent address on the records of the Company. 
 If to the Company: 

Virgin Galactic Holdings, LLC 

166 North Roadrunner Parkway, Suite 1C, 

Las Cruces, NM 8801 
 Attention:
General Counsel 
 or to such other address as either party shall have furnished to the other in writing in accordance herewith. Notice and communications
shall be effective when actually received by the addressee. 
 (c)    Sarbanes-Oxley Act of 2002. Notwithstanding
anything herein to the contrary, if the Company determines, in its good faith judgment, that any transfer or deemed transfer of funds hereunder is likely to be construed as a personal loan prohibited by Section 13(k) of the Securities Exchange
Act of 1934, as amended, and the rules and regulations promulgated thereunder (the “Exchange Act”), then such transfer or deemed transfer shall not be made to the extent necessary or appropriate so as not to violate the
Exchange Act and the rules and regulations promulgated thereunder. 
 (d)    Section 409A of the Code. 

(i)     To the extent applicable, this Agreement shall be interpreted in accordance with Section 409A.
Notwithstanding any provision of this Agreement to the contrary, if the Company determines that any compensation or benefits payable under this Agreement may be subject to Section 409A, the Company shall work in good faith with the Executive to
adopt such amendments to this Agreement or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Company determines are necessary or appropriate to avoid the
imposition of taxes under Section 409A, including without limitation, actions intended to (i) exempt the compensation and benefits payable under this Agreement from Section 409A, and/or (ii) comply with the requirements of
Section 409A; provided, however, that this Section 11(d) shall not create an obligation on the part of the Company to adopt any such amendment, policy or procedure or take any such other action, nor shall the
Company have any liability for failing to do so. 

  
 11 

 (ii)    Any right to a series of installment payments pursuant to this
Agreement is to be treated as a right to a series of separate payments. To the extent permitted under Section 409A, any separate payment or benefit under this Agreement or otherwise shall not be deemed “nonqualified deferred
compensation” subject to Section 409A to the extent provided in the exceptions in Treasury Regulation Section 1.409A-1(b)(4), Section 1.409A-1(b)(9)
or any other applicable exception or provision of Section 409A. Any payments subject to Section 409A that are subject to execution of a waiver and release which may be executed and/or revoked in a calendar year following the calendar year
in which the payment event (such as termination of employment) occurs shall commence payment only in the calendar year in which the consideration period or, if applicable, release revocation period ends, as necessary to comply with
Section 409A. All payments of nonqualified deferred compensation subject to Section 409A to be made upon a termination of employment under this Agreement may only be made upon the Executive’s Separation from Service. 

(iii)     To the extent that any payments or reimbursements provided to the Executive under this Agreement are deemed to
constitute compensation to the Executive to which Treasury Regulation Section 1.409A-3(i)(1)(iv) would apply, such amounts shall be paid or reimbursed reasonably promptly, but not later than
December 31 of the year following the year in which the expense was incurred. The amount of any such payments eligible for reimbursement in one year shall not affect the payments or expenses that are eligible for payment or reimbursement in any
other taxable year, and the Executive’s right to such payments or reimbursement of any such expenses shall not be subject to liquidation or exchange for any other benefit. 

(e)    Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the
validity or enforceability of any other provision of this Agreement. 
 (f)    Withholding. The Company may
withhold from any amounts payable under this Agreement such federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation. 

(g)    No Waiver. The Executive’s or the Company’s failure to insist upon strict compliance with any
provision of this Agreement or the failure to assert any right the Executive or the Company may have hereunder, including, without limitation, the right of the Executive to terminate employment for Good Reason pursuant to Section 3(c) hereof,
shall not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement. 

(h)    Entire Agreement. As of the Effective Date, this Agreement (including the Award Agreements and the
Confidentiality Agreement), together with that certain participation letter agreement pursuant to the Virgin Galactic/TSC Cash Incentive Plan, constitutes the final, complete and exclusive agreement between the Executive and the Company with respect
to the subject matter hereof and replaces and supersedes any and all other agreements, offers or promises, whether oral or written, by any member of the Company and its subsidiaries or affiliates, or representative thereof (including that certain
Offer Letter, dated as of September 12, 2015 and amended as of July 10, 2016, April 23, 2018). Notwithstanding anything herein to the contrary, (i) this Agreement and the obligations and commitments hereunder shall neither
commence nor be of any force or effect prior to the Effective Date and unless and until the Business Combination is fully consummated in conformity with the terms of the Merger Agreement and (ii) in the event that the Merger Agreement is
terminated in accordance with its terms, the Business Combination is not consummated for any reason, or the Executive’s employment with Virgin Galactic, LLC terminates for any reason prior to the closing of the Business Combination this
Agreement will automatically terminate and be void ab initio. 

  
 12 

 (i)    Arbitration. 

(i)     Any controversy or dispute that establishes a legal or equitable cause of action
(“Arbitration Claim”) between any two or more Persons Subject to Arbitration (as defined below), including any controversy or dispute, whether based on contract, common law, or federal, state or local statute or regulation,
arising out of, or relating to the Executive’s service or the termination thereof, shall be submitted to final and binding arbitration as the sole and exclusive remedy for such controversy or dispute in accordance with the rules of JAMS
pursuant to its Employment Arbitration Rules and Procedures, which are available at http://www.jamsadr.com/rules-employment-arbitration/, and the Company will provide a copy upon the Executive’s request. Notwithstanding the foregoing, this
Agreement shall not require any Person Subject to Arbitration to arbitrate pursuant to this Agreement any claims: (A) under a Company benefit plan subject to the Employee Retirement Income Security Act, as amended; or (B) as to which
applicable law not preempted by the Federal Arbitration Act prohibits resolution by binding arbitration. Either party may seek provisional non-monetary remedies in a court of competent jurisdiction to the
extent that such remedies are not available or not available in a timely fashion through arbitration. It is the parties’ intent that issues of arbitrability of any dispute shall be decided by the arbitrator. 

(ii)     “Persons Subject to Arbitration” means, individually and collectively,
(A) the Executive, (B) any person in privity with or claiming through, on behalf of or in the right of the Executive, (C) the Company, (D) any past, present or future affiliate, employee, officer, director or agent of the
Company, and/or (E) any person or entity alleged to be acting in concert with or to be jointly liable with any of the foregoing. 

(iii)     The arbitration shall take place before a single neutral arbitrator at the JAMS office in Los
Angeles, California. Such arbitrator shall be provided through JAMS by mutual agreement of the parties to the arbitration; provided that, absent such agreement, the arbitrator shall be selected in accordance with the rules of JAMS then in
effect. The arbitrator shall permit reasonable discovery. The award or decision of the arbitrator shall be rendered in writing; shall be final and binding on the parties; and may be enforced by judgment or order of a court of competent jurisdiction.

 (iv)     In the event of arbitration relating to this Agreement, the
non-prevailing party shall reimburse the prevailing party for all costs incurred by the prevailing party in connection with such arbitration (including reasonable legal fees in connection with such
arbitration, including any litigation or appeal therefrom). 
 (v)     THE EXECUTIVE AND THE COMPANY
UNDERSTAND THAT BY AGREEING TO ARBITRATE ANY ARBITRATION CLAIM, THEY WILL NOT HAVE THE RIGHT TO HAVE ANY ARBITRATION CLAIM DECIDED BY A JURY OR A COURT, BUT SHALL INSTEAD HAVE ANY ARBITRATION CLAIM DECIDED THROUGH ARBITRATION. 

(vi)     THE EXECUTIVE AND THE COMPANY WAIVE ANY CONSTITUTIONAL OR OTHER RIGHT TO BRING CLAIMS COVERED BY
THIS AGREEMENT OTHER THAN IN THEIR INDIVIDUAL CAPACITIES. EXCEPT AS MAY BE PROHIBITED BY LAW, THIS WAIVER INCLUDES THE ABILITY TO ASSERT CLAIMS AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING. 

  
 13 

 (vii)     This Section 11(i) shall be interpreted
to conform to any applicable law concerning the terms and enforcement of agreements to arbitrate service disputes. To the extent any terms or conditions of this Section 11(i) would preclude its enforcement, such terms shall be severed or
interpreted in a manner to allow for the enforcement of this Section 11(i). To the extent applicable law imposes additional requirements to allow enforcement of this Section 11(i), this Agreement shall be interpreted to include such terms
or conditions. 
 (j)    Attorney Expenses. The Company shall pay or reimburse the Executive for his pro-rata portion of legal fees and expenses incurred by George Whitesides, Jon Campagna, Enrico Palermo and Michael Moses as a group, in connection with the negotiation, preparation and execution of this Agreement
and advice received in respect of executive compensation matters relating to the Business Combination, not to exceed $25,000 in the aggregate for all such legal fees incurred by such group. The Company shall pay (or shall cause to be paid) such
legal fees and expenses within 30 days after the Company’s receipt of applicable invoices and such invoices shall be provided to the Company within 45 days after the Effective Date. 

(k)    Amendment; Survival. No amendment or other modification of this Agreement shall be effective unless made in
writing and signed by the parties hereto. The respective rights and obligations of the parties under this Agreement shall survive the Executive’s termination of employment and the termination of this Agreement to the extent necessary for the
intended preservation of such rights and obligations. 
 (l)    Counterparts. This Agreement and any agreement
referenced herein may be executed in two or more counterparts, each of which shall be deemed an original but which together shall constitute one and the same instrument. 

[SIGNATURES APPEAR ON FOLLOWING PAGE] 

  
 14 

 IN WITNESS WHEREOF, the Executive has hereunto set the Executive’s hand and, pursuant
to the authorization from the Board, each of OpCo and PubCo has caused these presents to be executed in its name on its behalf, all as of the day and year first above written. 

 

			
	“OPCO”
		
	By:	 	 /s/ George Whitesides

		 	Name: George Whitesides
		 	Title: President
	
	“PUBCO”
		
	By:	 	 /s/ George Whitesides

		 	Name: George Whitesides
		 	Title: Chief Executive Officer
	
	“EXECUTIVE”
	
	           /s/ Jon Campagna

	          Jon Campagna

  
 S-1 

 EXHIBIT A 

GENERAL RELEASEEX-10.9

 Exhibit 10.9 

STOCKHOLDERS’ AGREEMENT 

This Stockholders’ Agreement (this “Agreement”) is made as of October 25, 2019, by and among Virgin Galactic Holdings,
Inc., a Delaware corporation (the “Company”) (f/k/a Social Capital Hedosophia Holdings Corp., a Cayman Islands exempted company limited by shares prior to its domestication as a Delaware corporation), Vieco USA, Inc., a Delaware
corporation (the “VG Holder”), SCH Sponsor Corp., a Cayman Islands exempted company (the “SCH Holder”), and Chamath Palihapitiya (“CP Holder” and, together with the VG Holder, the SCH Holder and any
individual or entity who hereafter becomes a party to this Agreement pursuant to Section 15, the “Voting Parties” and each a “Voting Party”). 

RECITALS 
 WHEREAS,
the Company, Foundation Sub 1, Inc., a Delaware corporation (“Merger Sub A”), Foundation Sub 2, Inc., a Delaware corporation (“Merger Sub B”), Foundation Sub, LLC, a Delaware limited liability company
(“Merger Sub LLC” and, together with Merger Sub A and Merger Sub B, the “Merger Subs” and each, a “Merger Sub”), Vieco 10 Limited, a company limited by shares under the laws of the British Virgin
Islands (“Vieco 10”), the VG Holder, TSC Vehicle Holdings, Inc., a Delaware corporation (“TSCV”), Virgin Galactic Vehicle Holdings, Inc., a Delaware corporation (“VGVH”), and VGH, LLC, a Delaware
limited liability company (“VGH” and, together with TSCV and VGVH, the “VG Companies”), have entered into an Agreement and Plan of Merger, dated as of July 9, 2019 as amended by Amendment No. 1 to Agreement and
Plan of Merger, dated as of October 2, 2019 (as amended or modified from time to time, the “Merger Agreement”), pursuant to which, among other transactions, (i) Merger Sub A is to merge with and into TSCV, with TSCV
continuing on as the surviving entity, (ii) Merger Sub B is to merge with and into VGVH, with VGVH continuing on as the surviving entity and (iii) Merger Sub LLC is to merge with and into VGH, with VGH continuing on as the surviving
entity, in each case, on the terms and conditions set forth therein; 
 WHEREAS, in connection with the Merger, the Company and the
Voting Parties are party to a Registration Rights Agreement, dated as of the date hereof (as it may be amended, supplemented, restated and/or modified from time to time, the “Registration Rights Agreement”); 

WHEREAS, in connection with the Merger, the Voting Parties have agreed to execute and deliver this Agreement; 

WHEREAS, as of immediately following the closing of the Merger (the “Closing”) each of the Voting Parties Beneficially
Owns (as defined below) the respective number of shares of common stock, par value $0.0001 per share, of the Company (the “Common Stock”), set forth on Annex A hereto; 

WHEREAS, the Voting Parties in the aggregate Beneficially Own (as defined below) shares of Common Stock representing more than fifty
percent (50%) of the outstanding voting power of the Company; 
 WHEREAS, the number of shares of Common Stock Beneficially Owned by
each Voting Party may change from time to time, in accordance with the terms of (x) the Certificate of Incorporation of the Company, as it may be amended, supplemented and/or restated from time to time (the “Charter”), (y) the by-laws of the Company and (z) the Registration Rights Agreement, which changes shall be reported by each Voting Party in accordance with the applicable provisions of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”); 

  
 1 

 WHEREAS, each of the Voting Parties believes that it is in their respective best
interests to qualify the Company as a “controlled company” under the listing standards of NYSE; and 
 WHEREAS, the parties
hereto desire to maintain a group and to enter into this Agreement to provide for voting agreements pursuant to which all of the Voting Parties’ shares of Common Stock will be voted together with respect to elections of the Company’s Board
of Directors (the “Board”). 
 NOW THEREFORE, in consideration of the foregoing and of the promises and covenants
contained herein, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 AGREEMENT 

1.    Definitions. Capitalized terms used herein but not defined in this Agreement shall have the meanings ascribed
to them in the Merger Agreement. In addition to the terms defined elsewhere in this Agreement, the following terms shall have the meanings indicated when used in this Agreement with initial capital letters: 

“Affiliate” shall have the meaning ascribed to such term in Rule 12b-2 of the General
Rules and Regulations under the Exchange Act. 
 “CP Shares” shall have the meaning given in the Purchase Agreement. 

“Interested Stockholder” means VG Holder or any Affiliate of VG Holder. 

“Lock-Up Period” shall have the meaning ascribed to such term in the Registration
Rights Agreement. 
 “Necessary Action” means, with respect to any party and a specified result, all actions (to the extent
such actions are not prohibited by applicable law, within such party’s control and do not directly conflict with any rights expressly granted to such party in this Agreement, the Merger Agreement, the Registration Rights Agreement, the Charter
or the by-laws of the Company) reasonably necessary and desirable within his, her or its control to cause such result, including, without limitation (i) calling special meetings of the Board and the
stockholders of the Company, (ii) voting or providing a proxy with respect to the Voting Shares beneficially owned by such party, (iii) causing the adoption of stockholders’ resolutions and amendments to the Charter or by-laws of the Company, including executing written consents in lieu of meetings, (iv) executing agreements and instruments, (v) causing members of the Board (to the extent such members were elected,
nominated or designated by the party obligated to undertake such action) to act (subject to any applicable fiduciary duties) in a certain manner or causing them to be removed in the event they do not act in such a manner and (vi) making, or
causing to be made, with governmental, administrative or regulatory authorities, all filings, registrations or similar actions that are required to achieve such a result. 

“Permitted Transferees” shall have the meaning ascribed to such term in the Registration Rights Agreement. 

“Related Transaction” means (i) any and all transactions contemplated by the Purchase Agreement, dated July 9,
2019, among the Company, VG Holder and Chamath Palihapitiya (the “Purchase Agreement”) and (ii) the “Repurchase” (as defined in the Merger Agreement). 

“Sunset Date” means the earlier to occur of (i) the date CP Holder is no longer entitled to designate two (2) CP
Designees pursuant to this Agreement and (ii) the date VG Holder is no longer entitled to designate two (2) or more VG Designees pursuant to this Agreement. 

  
 2 

 2.    Agreement to Vote. During the term of this Agreement, each
Voting Party shall vote or cause to be voted all securities of the Company that may be voted in the election of the Company’s directors registered in the name of, or beneficially owned (as such term is defined in Rule 13d-3 under the Exchange Act, including by the exercise or conversion of any security exercisable or convertible for shares of Common Stock, but excluding shares of stock underlying unexercised options or warrants)
(“Beneficially Owned” or “Beneficial Ownership”) by such Voting Party, including any and all securities of the Company acquired and held in such capacity subsequent to the date hereof (hereinafter referred to as the
“Voting Shares”), in accordance with the provisions of this Agreement, including, without limitation, voting or causing to be voted all Voting Shares Beneficially Owned by such Voting Party so that the Board is comprised of the
Persons designated pursuant to Subsection 3(a)(i) and Subsection 3(a)(ii). Except as explicitly provided in this Agreement, each Voting Party is free to vote or cause to be voted all Voting Shares Beneficially Owned by such Voting
Party. The parties hereto agree and acknowledge that Subsection 3(a)(i) shall not limit the number of directors of the Company that may be designated or elected by VG Holder, whether pursuant to the TMLA or otherwise. 

3.    Board of Directors. 

a.    Board Representation. Subject to the terms and conditions of this Agreement, from the date of this Agreement,
the Company and each Voting Party shall take all Necessary Action to cause, effective immediately following the Effective Time, the Board to be comprised of eight (8) directors: 

i.    three of whom (the “VG Designees” and each a “VG Designee”) have been initially
designated as set forth on Exhibit 3(a) hereto and shall thereafter be designated by the VG Holder; provided that only for so long as VG Holder Beneficially Owns a number of Voting Shares representing at least the percentage set forth
below of the number of Voting Shares currently owned by VG Holder relative to the number of Voting Shares Beneficially Owned by VG Holder immediately following the Effective Time and after taking into account the consummation of any Related
Transaction, the Company shall, and the Voting Parties shall take all Necessary Action to, include in the slate of nominees recommended by the Board for election as directors at each applicable annual or special meeting of the stockholders of the
Company, including at every adjournment or postponement thereof, at which directors are to be elected that number of individuals designated by VG Holder that, if elected, will result in VG Holder having designated the number of directors serving on
the Board that is shown below: 
  

					
	 Percentage
	  	Number of Directors	 
	 50% or greater
	  	 	3	 
	 25% or greater, up to but not including 50%
	  	 	2	 
	 10% or greater, up to but not including 25%
	  	 	1	 
	 Less than 10%
	  	 	0	 

  
 3 

 ii.    two of whom (the “CP Designees” and each a
“CP Designee”) have been initially designated as set forth on Exhibit 3(a) hereto and shall thereafter be designated by the CP Holder; provided that for so long as CP Holder has the right to designate two CP Designees,
one of the CP Designees must qualify as an “independent director” under stock exchange regulations applicable to the Company; provided, further, that only for so long as the CP and the SCH Holder Beneficially Own, in the
aggregate, a number of Voting Shares representing at least the percentage set forth below of the number of Voting Shares Beneficially Owned by the CP Holder and the SCH Holder, in the aggregate, immediately following the Effective Time and after
taking into account the consummation of any Acquiror Share Redemptions and after excluding the CP Shares, the Company shall, and the Voting Parties shall take all Necessary Action to, include in the slate of nominees recommended by the Board for
election as directors at each applicable annual or special meeting of the stockholders of the Company, including at every adjournment or postponement thereof, at which directors are to be elected that number of individuals designated by CP Holder
that, if elected, will result in CP Holder having designated the number of directors serving on the Board that is shown below: 
  

					
	 Percentage
	  	Number of Directors	 
	 90% or greater
	  	 	2	 
	 50% or greater, up to but not including 90%
	  	 	1	 
	 Less than 50%
	  	 	0	 

 iii.    two of whom (the “Other Designees”, together with the VG
Designees and the CP Designees, the “Designees”) have been initially designated as set forth on Exhibit 3(a) hereto and shall thereafter be designated as determined by the Board; provided, that each of the two Other
Designees must qualify in the determination of the Board as an “independent director” under stock exchange regulations applicable to the Company and one of the two Other Designees must qualify as an “audit committee financial
expert” within the meaning of U.S. Securities and Exchange Commission Regulation S-K; provided, further, that (x) each Voting Party shall be obligated to vote or caused to be voted any
Voting Shares Beneficially Owned by such Voting Party in favor of the election of the Other Designees for the duration of the Lock-Up Period, and (y) except as set forth in the preceding clause
(x) no Voting Party shall be obligated to vote or cause to be voted any Voting Shares Beneficially Owned by such Voting Party in favor of the election of any Other Designee and each Voting Party may vote or cause to be voted any Voting Shares
Beneficially Owned by such Voting Party with respect to any Other Designee in their sole discretion. 
 iv.    one of
whom (the “CEO Director”) shall be the individual serving as the Chief Executive Officer of the Company and who is initially set forth on Exhibit 3(a) hereto. 

b.    Decrease in Designees. 

i.    Upon any decrease in the number of directors that the VG Holder or the CP Holder is entitled to designate for
nomination to the Board, the VG Holder or the CP Holder, as applicable shall take all Necessary Action to cause the appropriate number of Designees to offer to tender their resignation, effective as of the next annual meeting of stockholders of the
Company. Any Designee resigning pursuant to this Section 3(b) shall be permitted to continue serving as a director until the next annual meeting of stockholders of the Company. 

ii.    If as a result of the provisions of Section 3(a)(i) or (ii) there are seats on the Board for which
none of VG Holder or the CP Holder have the right to designate a director, the selection of such director shall be conducted in accordance with applicable law and with the Charter, by-laws of the Company, and
the other corporate governance documents of the Company. 
 c.    Resignation; Removal; Vacancies. 

i.    Any director may resign at any time upon written notice to the Board. 

  
 4 

 ii.    (A) VG Holder shall have the exclusive right to remove one or
more of the VG Designees from the Board, and the Company and the Voting Parties shall take all Necessary Action to cause the removal of any such VG Designee(s) at the written request of VG Holder and (B) VG Holder shall have the exclusive
right, in accordance with Subsection 3(a)(i), to designate directors for election to the Board to fill vacancies created by reason of death, removal or resignation of VG Designees, and the Company and the Voting Parties shall take all
Necessary Action to cause any such vacancies to be filled by replacement VG Designees as promptly as reasonably practicable. Notwithstanding anything to the contrary in this Subsection 3(c)(ii), VG Holder shall not have the right to designate
a replacement VG Designee, and the Company and the Voting Parties shall not be required to take any action to cause any vacancy to be filled by any such VG Designee, to the extent that election or appointment of such VG Designee to the Board would
result in a number of directors designated by VG Holder in excess of the number of directors that VG Holder is then entitled to designate for membership on the Board pursuant to this Agreement. 

iii.    (A) The CP Holder shall have the exclusive right to remove one or more of the CP Designees from the Board, and
the Company and the Voting Parties shall take all Necessary Action to cause the removal of any such CP Designee(s) at the written request of the CP Holder and (B) the CP Holder shall have the exclusive right, in accordance with Subsection
3(a)(ii), to designate directors for election to the Board to fill vacancies created by reason of death, removal or resignation of CP Designees, and the Company and the Voting Parties shall take all Necessary Action to cause any such vacancies
to be filled by replacement CP Designees as promptly as reasonably practicable. Notwithstanding anything to the contrary in this Subsection 3(c)(iii), the CP Holder shall not have the right to designate a replacement CP Designee, and the
Company and the Voting Parties shall not be required to take any action to cause any vacancy to be filled by any such CP Designee, to the extent that election or appointment of such CP Designee to the Board would result in a number of directors
designated by CP Holder in excess of the number of directors that CP Holder is then entitled to designate for membership on the Board pursuant to this Agreement. 

iv.    (A) Until the earlier of the Sunset Date and the expiration of the Lock-Up
Period, VG Holder shall take no action to cause the removal of one or more of the Other Designees and (B) until the Sunset Date, VG Holder must consult and discuss with the other directors of the Company before undertaking any action to cause
the removal of one or more of the Other Designees. 
 v.    If at any time a Person serving as the CEO Director ceases
to be the Chief Executive Officer of the Company, the Company and each Voting Party shall take all Necessary Action to cause the removal of such Person as the CEO Director and, at such time as a succeeding Chief Executive Officer is appointed by the
Board, the appointment or election of such Person as the CEO Director. 
 d.    Committees. 

i.    In accordance with the Charter, by-laws, and other corporate governance
documents of the Company, the Board may from time to time by vote or resolution establish and maintain one or more committees of the Board, each committee to consist of one or more Designees. Subject to applicable laws, stock exchange regulations
and applicable listing requirements, VG Holder and the CP Holder shall each, severally, have the right to have one VG Designee and CP Designee, respectively, appointed to serve on each committee of the Board for so long as the VG Holder or the CP
Holder, as applicable, has the right to designate at least two directors for election to the Board. The Voting Parties and the Company shall take all Necessary Action to cause the initial composition of certain committees of the Board to be agreed
between VG Holder, CP Holder and the Company. The Board may dissolve any committee or remove any member of a committee at any time, provided that, (x) for so long as VG Holder has the right to designate at least two directors for
election to the Board, following any such removal, VG Holder shall have the right to maintain at least one VG Designee serving on such committee and (y) for so long as CP Holder has the right to designate at least two directors for election to
the Board, following any such removal, CP Holder shall have the right to maintain at least one CP Designee serving on such committee. 

  
 5 

 ii.    Subject to applicable laws and stock exchange regulations and
applicable listing requirements, each of the VG Holder and the CP Holder shall also have the right to appoint one observer (a “Board Observer”) to attend any meeting of the Board for so long as the VG Holder or the CP Holder, as
applicable, has the right to designate at least one director for nomination under this Agreement. Any meeting of the Board may exclude a Board Observer from access to any meeting materials or information or meeting or portion thereof or written
consent if the Board determines, in good faith, that (i) such exclusion is reasonably necessary to protect highly confidential proprietary information of the Company or confidential proprietary information of third parties that the Company is
required to hold in confidence or (ii) such access would reasonably be expected to result in a conflict of interest with the Company; provided, that such exclusion shall be limited to the portion of the meeting materials or information
or meeting or written consent that is the basis for such exclusion and shall not extend to any portion of the meeting materials or information or meeting or written consent that does not involve or pertain to such exclusion. 

e.    Chairperson. For so long as CP Holder is entitled to designate at least one director for election to the
Board in accordance with the terms and conditions of this Agreement, the Voting Parties and the Company shall take all Necessary Action to cause the initial Chairperson of the Board to be Chamath Palihapitiya. Notwithstanding anything to the
contrary herein, at such time as VG Holder identifies and nominates a permanent Chairperson, who is reasonably acceptable to CP Holder and whom the Board determines qualifies as an “independent director” under stock exchange regulations
applicable to the Company (the “New Designee”), (i) Chamath Palihapitiya shall resign from the role of Chairperson, (ii) one Other Designee shall resign from the Board, with the identity of such resigning Other Designee being
determined by the Board (provided that Chamath Palihapitiya shall remain on the Board), and (iii) the New Designee shall become the Chairperson and replace the resigning Other Designee. The Company and the Voting Parties shall take all
Necessary Action to cause the actions set forth in the preceding sentence. 
 f.    Voting. Each of the Company
and the Voting Parties agree not to take, directly or indirectly, any actions (including removing directors in a manner inconsistent with this Agreement) that would frustrate, obstruct or otherwise affect the provisions of this Agreement and the
intention of the parties hereto with respect to the composition of the Board as herein stated. Each Voting Party, to the extent not prohibited by the Charter, shall vote all Voting Shares held by such Voting Party in such manner as may be necessary
to elect and/or maintain in office as members of the Board those individuals designated in accordance with this Section 3 and to otherwise effect the intent of the provisions of this Agreement. 

4.    Required Approvals. 

a.    From the date of this Agreement for so long as VG Holder is entitled to designate at least one director to the Board
pursuant to Subsection 3(a)(i), in addition to any vote or consent of the Board or the stockholders of the Company required by applicable law, the Charter or by-laws of the Company, the Board may not
approve, or cause the Company or any of its Subsidiaries to approve, and neither the Company nor any of its Subsidiaries may take, any action set forth on Exhibit 4(a) (whether directly or indirectly by amendment, merger, recapitalization,
consolidation or otherwise), other than as explicitly contemplated by this Agreement, the Merger Agreement or the Registration Rights Agreement, without the prior written consent of VG Holder. 

b.    From the date of this Agreement for so long as VG Holder is entitled to designate at least two directors to the
Board pursuant to Subsection 3(a)(i), in addition to any vote or consent of the Board or the stockholders of the Company required by applicable law, the Charter or by-laws of the Company, the Board may
not approve, or cause the Company or any of its Subsidiaries to approve, and neither the Company nor any of its Subsidiaries may take, any action set forth on Exhibit 4(b) (whether directly or indirectly by amendment, merger,
recapitalization, consolidation or otherwise), other than as explicitly contemplated by this Agreement, the Merger Agreement or the Registration Rights Agreement, without the prior written consent of VG Holder. 

c.    Until the Sunset Date, except as set forth on Exhibit 4(c), in addition to any vote or consent of the Board
or the stockholders of the Company required by applicable law, the Charter or by-laws of the Company, 

  
 6 

 
the Board may not approve, or cause the Company or any of its Subsidiaries to approve any transaction (excluding transactions involving consideration less than $120,000) between an Interested
Stockholder, on the one hand, and the Company or any subsidiary of the Company, on the other, without the affirmative vote of at least a majority of the directors of the Company that are not VG Designees. 

d.    Until the Sunset Date, the VG Holder will first consult and discuss with the Board before (i) adopting,
amending or repealing, in whole or in part, the Charter or by-laws of the Company and (ii) taking any action by written consent as a stockholder of the Company. 

5.    Controlled Company. 

a.    The Voting Parties agree and acknowledge that: 

i.    by virtue of this Agreement, from and after the date hereof, they are acting as a “group” within the
meaning of Section 13(d)(3) of the Exchange Act for the purpose of causing the Company to continue to qualify as a “controlled company” under Section 303A of the NYSE Listed Company Manual; and 

ii.    by virtue of the combined voting power of the Voting Parties of more than fifty percent (50%) of the total voting
power of the shares of capital stock of the Company outstanding as of the date hereof, the Company will, as of the date hereof, qualify as a “controlled company” within the meaning of Section 303A of the NYSE Listed Company Manual.

 b.    From and after the date hereof, the Company agrees and acknowledges that, unless otherwise agreed by VG Holder,
it shall elect, to the extent permitted under the NYSE Listed Company Manual, to be treated as a “controlled company” within the meaning of Section 303A of the NYSE Listed Company Manual. 

6.    Representations and Warranties of each Voting Party. Each Voting Party on its own behalf hereby represents
and warrants to the Company and the other Voting Party, severally and not jointly, with respect to such Voting Party and such Voting Party’s ownership of his, her or its Voting Shares set forth on Annex A, as of the date of this
Agreement, as follows: 
 a.    Organization; Authority. If Voting Party is a legal entity, Voting Party
(i) is duly incorporated or organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization and (ii) has all requisite power and authority to enter into this Agreement and to perform
its obligations hereunder. If Voting Party is a natural person, Voting Party has the legal capacity to enter into this Agreement and perform his or her obligations hereunder. If Voting Party is a legal entity, this Agreement has been duly
authorized, executed and delivered by Voting Party. This Agreement constitutes a valid and binding obligation of Voting Party enforceable in accordance with its terms, except as enforcement may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting creditors’ rights generally and by general principles of equity (regardless of whether considered in a proceeding in equity or at law). 

b.    No Consent. Except as provided in this Agreement, no consent, approval or authorization of, or
designation, declaration or filing with, any Governmental Authority or other Person on the part of Voting Party is required in connection with the execution, delivery and performance of this Agreement, except where the failure to obtain such
consents, approvals, authorizations or to make such designations, declarations or filings would not materially interfere with a Voting Party’s ability to perform his, her or its obligations pursuant to this Agreement. If Voting Party is a
natural person, no consent of such Voting Party’s spouse is necessary under any “community property” or other laws for the execution and delivery of this Agreement or the performance of Voting Party’s obligations hereunder. If
Voting Party is a trust, no consent of any beneficiary is required for the execution and delivery of this Agreement or the consummation of the transactions contemplated hereby. 

c.    No Conflicts; Litigation. Neither the execution and delivery of this Agreement, nor the consummation of the
transactions contemplated hereby, nor compliance with the terms hereof, will (A) if such 

  
 7 

 
Voting Party is a legal entity, conflict with or violate any provision of the organizational documents of Voting Party, or (B) violate, conflict with or result in a breach of, or constitute
a default (with or without notice or lapse of time or both) under any provision of, any trust agreement, loan or credit agreement, note, bond, mortgage, indenture, lease or other agreement, instrument, permit, concession, franchise, license,
judgment, order, notice, decree, statute, law, ordinance, rule or regulation applicable to Voting Party or to Voting Party’s property or assets, except, in the case of clause (B), that would not reasonably be expected to impair, individually or
in the aggregate, Voting Party’s ability to fulfill its obligations under this Agreement. As of the date of this Agreement, there is no Action pending or, to the knowledge of a Voting Party, threatened, against such Voting Party or any of
Voting Party’s Affiliates or any of their respective assets or properties that would materially interfere with such Voting Party’s ability to perform his, her or its obligations pursuant to this Agreement or that would reasonably be
expected to prevent, enjoin, alter or delay any of the transactions contemplated by this Agreement. 

d.    Ownership of Shares. Voting Party Beneficially Owns his, her or its Voting Shares free and clear of all
Encumbrances. Except pursuant to this Agreement, the Merger Agreement and the Registration Rights Agreement, there are no options, warrants or other rights, agreements, arrangements or commitments of any character to which Voting Party is a party
relating to the pledge, acquisition, disposition, Transfer or voting of Voting Shares and there are no voting trusts or voting agreements with respect to the Voting Shares. Voting Party does not Beneficially Own (i) any shares of capital stock
of the Company other than the Voting Shares set forth on Annex A and (ii) any options, warrants or other rights to acquire any additional shares of capital stock of the Company or any security exercisable for or convertible into shares
of capital stock of the Company, other than as set forth on Annex A (collectively, “Options”). 

7.    Covenants of the Company. 

a.    The Company shall: (i) take any and all action reasonably necessary to effect the provisions of this Agreement
and the intention of the parties with respect to the terms of this Agreement; (ii) not take any action that would reasonably be expected to adversely frustrate, obstruct or otherwise affect the rights of the VG Holder under this Agreement
without the prior written consent of the VG Holder; and (iii) not take any action that would reasonably be expected to adversely frustrate, obstruct or otherwise affect the rights of the CP Holder under this Agreement without the prior written
consent of the CP Holder. 
 b.    The Company shall (i) purchase and maintain in effect at all times
directors’ and officers’ liability insurance in an amount and pursuant to terms determined by the Board to be reasonable and customary, (ii) for long as any director nominated pursuant to this Agreement serves as a director on the
Board, maintain such coverage with respect to such director, and (iii) cause the Charter and by-laws of the Company (each as may be further amended, modified and/or supplemented) to at all times provide
for the indemnification, exculpation and advancement of expenses of all directors of the Company to the fullest extent permitted under applicable law; provided, that upon removal or resignation of any director for any reason, the Company
shall take all actions reasonable necessary to extend such directors’ and officers’ liability insurance coverage for a period of not less than six (6) years from any such event in respect of any act or omission occurring at or prior
to such event. 
 c.    The Company shall pay all reasonable out-of-pocket expenses incurred by the directors in connection with the performance of his or her duties as a director/observer and in connection with his or her attendance at any meeting of the Board. The
Company shall enter into customary indemnification agreements with each director and officer of the Company from time to time. 

8.    No Other Voting Trusts or Other Arrangement. Each Voting Party shall not, and shall not permit any
entity under Voting Party’s control to (i) deposit any Voting Shares or any interest in any Voting Shares in a voting trust, voting agreement or similar agreement, (ii) grant any proxies, consent or power of attorney or other
authorization or consent with respect to any of the Voting Shares or (iii) subject any of the Voting Shares to any arrangement with respect to the voting of the Voting Shares, in each case, that conflicts with or prevents the implementation of
this Agreement. 

  
 8 

 9.    Additional Shares. Each Voting Party agrees that all
securities of the Company that may vote in the election of the Company’s directors that such Voting Party purchases, acquires the right to vote or otherwise acquires Beneficial Ownership of (including by the exercise or conversion of any
security exercisable or convertible for shares of Common Stock) after the execution of this Agreement shall be subject to the terms of this Agreement and shall constitute Voting Shares for all purposes of this Agreement; provided that,
notwithstanding anything to the contrary in this Agreement, the CP Shares shall not be included as Voting Shares for purposes of Section 3(a)(ii). 

10.    No Agreement as Director or Officer. Voting Party is signing this Agreement solely in his, her or its
capacity as a stockholder of the Company. No Voting Party makes any agreement or understanding in this Agreement in such Voting Party’s capacity as a director or officer of the Company or any of its Subsidiaries (if Voting Party holds such
office). Nothing in this Agreement will limit or affect any actions or omissions taken by a Voting Party in his, her or its capacity as a director or officer of the Company, and no actions or omissions taken in such Voting Party’s capacity as a
director or officer shall be deemed a breach of this Agreement. Nothing in this Agreement will be construed to prohibit, limit or restrict a Voting Party from exercising his or her fiduciary duties as an officer or director to the Company or
its stockholders. 
 11.    Specific Enforcement. It is agreed and understood that monetary damages would not
adequately compensate an injured party for the breach of this Agreement by any party hereto and, accordingly, that this Agreement shall be specifically enforceable, in addition to any other remedy to which such injured party is entitled at law or in
equity, and that any breach of this Agreement shall be the proper subject of a temporary or permanent injunction or restraining order. Further, each party hereto waives any claim or defense that there is an adequate remedy at law for such breach or
threatened breach or an award of specific performance is not an appropriate remedy for any reason at law or equity and agrees that a party’s rights would be materially and adversely affected if the obligations of the other parties under this
Agreement were not carried out in accordance with the terms and conditions hereof. Each party further agrees that no party shall be required to obtain, furnish or post any bond or similar instrument in connection with or as a condition to obtain any
remedy referred to in this Section 11, and each party irrevocably waives any right it may have to require the obtaining, furnishing or posting of any such bond or similar instrument. 

12.    Termination. Following the Closing, (a) Sections 2, 3, 4, and 7 of this
Agreement shall terminate automatically (without any action by any party hereto) on the first date on which no Voting Party has the right to designate a director to the Board under this Agreement; provided, that the provisions in
Section 7(b) shall survive such termination; (b) Section 5 of this Agreement shall terminate automatically (without any action by any party hereto) on the first date on which the combined
voting power of the Voting Parties no longer exceeds fifty percent (50%) of the total voting power of the Company then outstanding and (c) the remainder of this Agreement shall terminate automatically (without any action by any party hereto) as
to each Voting Party when such Voting Party ceases to Beneficially Own any Voting Shares. 
 13.    Amendments and
Waivers. Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed by the Company, the VG Holder and the CP Holder. No failure or delay by any party in exercising any
right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies
herein provided shall be cumulative and not exclusive of any rights or remedies provided by law. 
 14.    Stock
Splits, Stock Dividends, etc. In the event of any stock split, stock dividend, recapitalization, reorganization or the like, any securities issued with respect to Voting Shares held by Voting Parties shall become Voting Shares for purposes of
this Agreement. During the term of this Agreement, all dividends and distributions payable in cash with respect to the Voting Shares shall be paid, as applicable, to each of the undersigned Voting Parties and all dividends and distributions payable
in Common Stock or other equity or securities convertible into equity with respect to the Voting Shares shall be paid, as applicable, to each of the 

  
 9 

 
undersigned Voting Parties, but all dividends and distributions payable in Common Stock or other equity or securities convertible into equity shall become Voting Shares for purposes of this
Agreement. 
 15.    Assignment. 

a.    Neither this Agreement nor any of the rights, duties, interests or obligations of the Company hereunder shall be
assigned or delegated by the Company in whole or in part. 
 b.    Prior to the expiration of the Lock-Up Period, no Voting Party may assign or delegate such Voting Party’s rights, duties or obligations under this Agreement, in whole or in part, except in connection with a transfer of Voting Shares by such
Voting Party to a Permitted Transferee in accordance with the terms of the Registration Rights Agreement and this Section 15; provided, that, with respect to VG Holder and CP Holder, the rights hereunder that are
personal to VG Holder and CP Holder, as applicable, may not be assigned or delegated in whole or in part, except that (i) VG Holder and CP Holder shall be permitted to transfer rights hereunder as VG Holder and CP Holder to one or more
Affiliates or any direct or indirect partners, members or equity holders of VG Holder and CP Holder, respectively, (each, a “Transferee”) and (ii) VG Holder and CP Holder shall be permitted to designate any Transferee as
“VG Holder” or “CP Holder”, as applicable, for purposes of this Agreement as if such Transferee were an initial signatory hereto (provided, for purposes of this clause (ii), that any such designated Transferee of the CP Holder is
controlled by Chamath Palihapitiya). 
 c.    This Agreement and the provisions hereof shall, subject to
Section 15(b), inure to the benefit of, shall be enforceable by and shall be binding upon the respective assigns and successors in interest of the Voting Parties, including with respect to any of such Voting Party’s
Voting Shares that are transferred to a Permitted Transferee in accordance with the terms of this Agreement and the Registration Rights Agreement. 

d.    No assignment in accordance with this Section 15 by any party hereto (including pursuant
to a transfer of any Voting Party’s Voting Shares) of such party’s rights, duties and obligations hereunder shall be binding upon or obligate the Company or any other party hereto unless and until each of the other parties hereto shall
have received (i) written notice of such assignment as provided in Section 22 and (ii) the executed written agreement of the assignee, in a form reasonably satisfactory to each of the other parties hereto, to be
bound by the terms and provisions of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement) as fully as if it were an initial signatory hereto. Each Voting Party shall not permit the transfer of any
such Voting Party’s Voting Shares to a Permitted Transferee unless and until the person to whom such securities are to be transferred has executed a written agreement as provided in clause (ii) of the preceding sentence. 

e.    Any transfer or assignment made other than as provided in this Section 15 shall be null
and void. 
 f.    Notwithstanding anything herein to the contrary, for purposes of determining the number of shares of
capital stock of the Company held by VG Holder, on the one hand, and SCH Holder and CP Holder, on the other hand, respectively, the aggregate number of shares so held by VG Holder and SCH Holder and CP Holder, respectively, shall include any shares
of capital stock of the Company transferred or assigned to a Permitted Transferee in accordance with the provisions of this Section 15; provided, that any such Permitted Transferee has executed a written agreement
agreeing to be bound by the terms and provisions of this Agreement as contemplated by Section 15(d) above, including agreeing to vote or cause to be voted the Voting Shares Beneficially Owned by such Permitted Transferee as
required of a Voting Party hereunder. 
 16.    Other Rights. Except as provided by this Agreement, each
Voting Party shall retain the full rights of a holder of shares of capital stock of the Company with respect to the Voting Shares, including the right to vote the Voting Shares subject to this Agreement. 

17.    Severability. In the event that any provision of this Agreement shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

  
 10 

 18.    Governing Law. This Agreement, the rights and duties of
the parties hereto, any disputes (whether in contract, tort or statute), and the legal relations between the parties arising hereunder shall be governed by and interpreted and enforced in accordance with the laws of the State of Delaware without
reference to its conflicts of laws provisions. 
 19.    Jurisdiction. Any suit, action or proceeding
seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement shall be brought against any of the parties in the United States District Court for the District of Delaware or any Delaware state court
located in Wilmington, Delaware, and each of the parties hereby consents to the exclusive jurisdiction of such court (and of the appropriate appellate courts) in any such suit, action or proceeding and waives any objection to venue laid therein.
Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court. 

20.    WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL
BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT. 
 21.    Counterparts. This
Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. 

22.    Notices. Any notices provided pursuant to this Agreement shall be in writing and given by
(i) deposit in the United States mail, addressed to the party to be notified, postage prepaid and registered or certified with return receipt requested, (ii) delivery in person or by courier service providing evidence of delivery, or
(iii) transmission by electronic mail. Notices provided pursuant to this Agreement shall be provided, (x) if to the Company, in accordance with the terms of the Merger Agreement, (y) if to any other party hereto, to the address
or email address, as applicable, of such party set forth on Annex A hereto, or (z) to any other address or email address, as a party designates in writing to the other parties in accordance with this Section 22.

 23.    Entire Agreement. This Agreement constitutes the full and entire understanding and agreement among the
parties, and supersedes any prior agreement or understanding among the parties, with regard to the subject matter hereof, and no party shall be liable or bound to any other party in any manner by any warranties, representations or covenants except
as specifically set forth herein. 
 [Remainder of page intentionally left blank; signature pages follow] 

  
 11 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the date
first above written. 
  

			
	 THE COMPANY:

	
	VIRGIN GALACTIC HOLDINGS, INC.
		
	By:	 	 /s/ George Whitesides

	Name:	 	George Whitesides
	Title:	 	Chief Executive Officer

 [Signature Page to Stockholders’ Agreement] 

  
 12 

			
	VG HOLDER
	
	VIECO USA, INC.
		
	By:	 	 /s/ Evan Lovell

	Name:	 	Evan Lovell
	Title:	 	President

 [Signature Page to Stockholders’ Agreement] 

  
 13 

			
	SCH HOLDER
	
	SCH SPONSOR CORP.
		
	By:	 	 /s/ Chamath Palihapitiya

	Name:	 	Chamath Palihapitiya
	Title:	 	Chairman and CEO

  

			
	CP HOLDER 
	
	CP HOLDER
		
	By:	 	 /s/ Chamath Palihapitiya

	Name:	 	Chamath Palihapitiya
	Title:	 	Chairman and CEO

 [Signature Page to Stockholders’ Agreement] 

  
 14 

 Annex A 

Voting Shares 
  

											
	 Holder
	  	 Address
	  	Shares
of
Common
Stock	  	Warrants	  	Options	  	Other Equity
Securities/Rights
to Acquire Equity
Securities
	Vieco USA, Inc.	  	 Vieco USA, Inc.
 c/o Vieco 10 Limited

Craigmuir Chambers
 PO Box 71

Road Town
 Tortola

British Virgin Islands
 Email:vghl@harneys.com

 
 with copies to (which shall not constitute notice):

 
 Virgin Management USA, Inc.

65 Bleecker Street, 6th Floor
 New York, NY 10012

Attention: James Cahillane, General Counsel
 Email:
James.Cahillane@virgin.com
  
 Latham & Watkins LLP

885 Third Avenue
 New York, New York 10022

Attention: Josh Dubofsky

                 Justin G. Hamill

                 Charles K. Ruck

Email:  josh.dubofsky@lw.com

             justin.hamill@lw.com

             charles.ruck@lw.com
	  		  		  		  	
	SCH Sponsor Corp.	  		  		  		  		  	
	 Chamath Palihapitiya
	  		  		  		  		  	

  
 15 

 Exhibit 3(a) 

Initial Designees 
  

	1.	 VG Designees shall initially be Craig Kreeger, Evan Lovell and George Mattson. 

 

	2.	 CP Designees shall initially be Chamath Palihapitiya and Adam Bain. Mr. Palihapitiya shall also initially
serve as the Chairperson. 

  

	3.	 Other Designees shall initially be Wanda Austin and James Ryans. 

 

	4.	 CEO Director shall initially be George Whitesides. 

  
 16 

 Exhibit 4(a) 

List of Matters for Required Approvals 
  

	1.	 Sale or any merger, consolidation, purchase of an equity interest, tender offer, exchange offer, other
secondary acquisition, business combination or similar transaction to which the Company or any of its Subsidiaries is a party (in one transaction or a series of related transactions); 

 

	2.	 Amendment, modification or waiver of any term or condition of this Agreement or the Registration Rights
Agreement, any provision of the Charter or by-laws of the Company or any organizational or governing document of any of the Subsidiaries of the Company; 

 

	3.	 Liquidation, dissolution, winding-up or causing any voluntary
bankruptcy or related actions with respect to the Company or any of its Subsidiaries; or 

  

	4.	 Issuance or sale of any shares of capital stock of the Company or any of its Subsidiaries or securities
convertible into or exercisable for any shares of capital stock of the Company or any of its Subsidiaries in excess of 5% of the then-issued and outstanding shares of capital of the Company, other than issuances of shares of capital stock upon the
exercise of options to purchase shares of capital stock of the Company or any Subsidiary, as the case may be, in accordance with their respective terms. 

  
 17 

 Exhibit 4(b) 

List of Matters for Required Approvals 
  

	1.	 Sale or any merger, consolidation, purchase of an equity interest, tender offer, exchange offer, other
secondary acquisition, business combination or similar transaction to which the Company or any of its Subsidiaries is a party (in one transaction or a series of related transactions), having a fair market value of $10,000,000 or more;

  

	2.	 Non-ordinary course sale, exchange, transfer, lease, disposition,
surrender or abandonment of any assets of the Company or any Subsidiary of the Company (in one transaction or a series of related transactions), including any equity interest in any Subsidiary of the Company, having a fair market value of
$10,000,000 or more; 

  

	3.	 Acquisition of the business or assets (to the extent such acquisition of assets is non-ordinary course) of any other entity (in one transaction or a series of related transactions) having a fair market value of $10,000,000 or more; 

 

	4.	 Acquisition of an equity interest in any other entity, by merger, purchase of equity interests or otherwise (in
one transaction or a series of related transactions) having a fair market value of $10,000,000 or more, other than the incorporation, formation, establishment or similar by the Company or any of its Subsidiaries of a new wholly owned Subsidiary
thereof; 

  

	5.	 Engagement by the Company or its Subsidiaries (but not the Board of Directors or any committee thereof) of any
professional advisers, including, without limitation, investment bankers and financial advisers, for any matters set forth in this Exhibit 4(b); 

  

	6.	 Approval of any non-ordinary course investment (including capital
contribution) or expenditure or execution of any agreement reasonably likely to result in costs and expenses (in one transaction or contract or a series of related transactions or contracts) having a fair market value of $10,000,000 or more (other
than any investment or expenditure expressly contemplated by the annual operating budget of the Company then in effect); 

  

	7.	 Increase or decrease the size of the Board; 

 

	8.	 Issuance or sale of any shares of capital stock of the Company or any of its Subsidiaries or securities
convertible into or exercisable for any shares of capital stock of the Company or any of its Subsidiaries, other than issuances of shares of capital stock upon the exercise of options to purchase shares of capital stock of the Company or any
Subsidiary, as the case may be, in accordance with their respective terms; 

  

	9.	 (A) making of any dividends or other distributions to the stockholders of the Company or (B) other than
(i) redemptions made pursuant to any Acquiror Share Redemptions or (ii) any redemptions, repurchases, acquisitions or similar transactions of equity securities in the Company or any of its Subsidiaries in connection with the cessation of
employment or service of a Person at a price no less than the then-current fair market value thereof and pursuant to the terms and conditions of the underlying applicable purchase, grant, award or other documentation approved by the Board, any
redemption, repurchase or other acquisition of (x) shares of capital stock of the Company by the Company or (y) any shares of capital stock or other equity securities in any Subsidiary of the Company by the Company or any Subsidiary
thereof (other than acquisitions or equity securities of a direct or indirect wholly owned Subsidiary of the Company by the Company or another direct or indirect wholly owned Subsidiary of the Company); 

 

	10.	 (A) incurrence of indebtedness or guarantee of indebtedness of any third party other than the incurrence of
indebtedness (i) pursuant to ordinary course trade payables or (ii) in an amount not to exceed $25,000,000 in aggregate principal amount in a single transaction or $100,000,000 in aggregate consolidated indebtedness for the Company,
(B) amendment of the material terms of any indebtedness for borrowed money of the Company or any of its Subsidiaries or (C) refinance of indebtedness for borrowed money of the Company or any of its Subsidiaries; 

  
 18 

	11.	 Amendment, modification or waiver of any term or condition of this Agreement or the Registration Rights
Agreement, any provision of the Charter or by-laws of the Company or any organizational or governing document of any of the Subsidiaries of the Company; 

 

	12.	 Liquidation, dissolution, winding-up or causing any voluntary
bankruptcy or related actions with respect to the Company or any of its Subsidiaries; 

  

	13.	 Entry into of a “related party transaction” under Item 404 of Regulation S-K; or 

  

	14.	 Authorization or approval, or entrance into any agreement to do any of the foregoing. 

  
 19 

 Exhibit 4(c) 

Interested Stockholder Transactions 

Any transactions contemplated or permitted by the following: 
  

	1.	 Registration Rights Agreement (as defined in the Merger Agreement) 

 

	2.	 Transition Services Agreements (as defined in the Merger Agreement) 

 

	3.	 TMLA (as defined in the Merger Agreement) 

 

	4.	 Richard Branson and up to three (3) other individuals of his choice shall be permitted as passengers on
the Company’s first commercial space flight, in each case, without any obligation to purchase tickets or otherwise pay for such flight. 

  
 20

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