Document:

EX-10.24

 Exhibit 10.24 

NON-EMPLOYEE DIRECTOR COMPENSATION POLICY 

OF THE BOARD OF DIRECTORS 

OF 
 MOVELLA HOLDINGS
INC. 
 Non-employee members of the board of directors (the “Board”) of Movella Holdings Inc.
(the “Company”) shall be eligible to receive cash and equity compensation as set forth in this Non-Employee Director Compensation Policy (“Policy”). This Policy will be
effective upon the closing of the business combination by and among the Company (known as the Pathfinder Acquisition Corporation prior to the closing of such business combination), Movella, Inc., and Mocha Merger Sub, Inc., and shall apply with
respect to services rendered following such date. The cash compensation and equity grants described in this Policy shall be paid or be made, as applicable, automatically and without further action of the Board, to each member of the Board who is not
an employee of the Company or any parent or subsidiary of the Company (each, a “Non-Employee Director”), unless such Non-Employee Director declines the
receipt of such cash compensation or equity grants by written notice to the Company. This Policy shall remain in effect until it is revised or rescinded by further action of the Board. The terms and conditions of this Policy shall supersede any
prior cash or equity compensation arrangements between the Company and its directors. 
 Annual Cash Compensation 

Commencing at the beginning of the first calendar quarter following the effective date of this Policy, each
Non-Employee Director will receive the cash compensation set forth below for service on the Board. The annual cash compensation amounts will be payable in arrears following the end of each quarter in which the
service occurred, pro-rated for any partial months of service. All annual cash fees are vested upon payment. 

Annual Cash Retainer for Board Service 
  

	 	•	 	 All Non-Employee Directors: $40,000 

 

	 	•	 	 Non-Executive Chair or Lead Independent Director: $20,000

 Annual Cash Retainer for Committee Service 

In addition, a Non-Employee Director shall be eligible to receive the following additional annual cash retainers for
service in the following roles: 
 Committee Chair: 
  

	 	•	 	 Audit: $15,000 

  

	 	•	 	 Compensation: $10,000 

  

	 	•	 	 Nominating and Corporate Governance: $8,000 

Non-Chair Committee Member: 
  

	 	•	 	 Audit: $7,000 

  

	 	•	 	 Compensation: $5,000 

  

	 	•	 	 Nominating and Corporate Governance: $4,000 

 Equity Compensation 

Non-Employee Directors shall be granted the following restricted stock unit (“RSU”) awards under the
Company’s 2022 Stock Incentive Plan or its successor (the “Plan”): 
 Annual Awards: On the first business day following the
conclusion of each regular annual meeting of the Company’s stockholders, commencing with the 2023 annual meeting, each Non-Employee Director who has at such time served on the Board for at least 6 months
and who will continue serving as a member of the Board thereafter shall receive a grant of RSUs (“Annual RSU Award”) under the Plan with respect to a number of shares of common stock having an aggregate fair market value as
determined under the Plan equal to $100,000 calculated on the date of grant. 
 Each Annual RSU Award shall become fully vested, subject to
the applicable Non-Employee Director’s continued service as a director, on the earliest of the 12-month anniversary of the date of grant, the next annual meeting of
stockholders following the date of grant or the consummation of a Change in Control (as defined in the Plan). 
 Initial Awards: Except as provided
below, each Non-Employee Director who first joins the Board on or after the effective date of this Policy and who was not previously an employee of the Company or a parent or subsidiary thereof shall receive a
grant of RSUs (“Initial RSU Award”) under the Plan on the date of his or her election to the Board with respect to a number of shares of common stock having an aggregate fair market value as determined under the Plan equal to
$250,000 calculated on the date of grant. Subject to the applicable Non-Employee Director’s continued service as a director, the Initial RSU Award shall initially vest as to 1/3 of the total number of
shares subject to the award on the earlier of the first anniversary of the date of grant or the next annual meeting of the Company’s stockholders, and in each of the next two calendar years following the year of the initial vesting date, 1/3 of
the total number of shares shall vest on the earlier of the 12-month anniversary of the prior annual meeting of stockholders or the current year annual meeting of stockholders. Notwithstanding the foregoing,
each Initial RSU Award shall become 100% vested if a Change in Control as defined in the Plan occurs during such Non-Employee Director’s service. 

Each Non-Employee Director who joins the Board before the effective date of this Policy but will
continue serving as a member of the Board thereafter will be treated for purposes of the Initial RSU Award as having first joined the Board on the effective date of this Policy and shall therefore be eligible for an Initial RSU Award. 

Each Non-Employee Director who is eligible for an Initial RSU Award but who joins the Board prior to
the date that the RSUs have been registered under applicable U.S. securities laws will not receive the grant until such registration is effective, and such grant shall be subject to the Non-Employee
Director’s continued service through such date of grant. However, for purposes of determining the applicable vesting schedule, the date on which the Non-Employee Director joins the Board (or if later, the
effective date of this Policy) shall be treated as the date of grant of the award. 

  
 2 

 The RSUs shall be subject to the terms and conditions of the Plan (including the annual limits on non-employee director grants set forth in the Plan) and an RSU agreement, including attached exhibits, in substantially the same form approved by the Board for employee grants subject to the terms specified above.

 Each Non-Employee Director may elect to defer 100% of their RSUs subject to the terms of a deferral program
approved by the Board. 
 The Board may also approve other equity grants to Non-Employee Directors under the Plan in
addition to or lieu of grants described in this Policy. 
 Expenses 

The Company shall reimburse directors for reasonable and customary
out-of-pocket expenses incurred by the directors in attending board and committee meetings and otherwise performing their duties and obligations as directors. 

  
 3EX-10.31

 Exhibit 10.31 

FORM OF ASSIGNMENT AND ASSUMPTION AGREEMENT 

This Assignment and Assumption Agreement (this “Assignment and Assumption Agreement”) is dated as of the Effective Date set
forth below (the “Effective Date”) and is entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the “Assignee”). Capitalized terms used but not
defined herein have the meanings provided in the Note Purchase Agreement identified below, receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto (the
“Standard Terms and Conditions”) are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption Agreement as if set forth herein in full. 

For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases
and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Note Purchase Agreement, as of the Effective Date inserted by the Agent as contemplated below (i) the aggregate principal amount of Notes
identified below, (ii) the Assignor’s rights and obligations as a Purchaser under the Note Purchase Agreement and any other documents or instruments delivered pursuant thereto, to the extent related to the amount identified below of all of
such outstanding rights and obligations of the Assignor of the aggregate principal amount of Notes identified below, and (iii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right
of the Assignor (in its capacity as a Purchaser) against any Person, whether known or unknown, arising under or in connection with the Note Purchase Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions
governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and
obligations sold and assigned pursuant to clauses (i) and (ii) above (the rights and obligations sold and assigned pursuant to clauses (i), (ii) and (iii) above being referred to herein collectively as, the “Assigned
Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption Agreement, without representation or warranty by the Assignor. If this Assignment and Assumption covers
all of the remaining portion of the Assignor’s rights and obligations under the Note Purchase Agreement, the Assignor shall cease to be a party thereto. Nothing under this Assignment and Assumption shall release the Assignor from any rights and
remedies available to the Issuer for any breaches by Assignor prior to the Effective Date (or thereafter if the Assignor shall remain a Purchaser other than with respect to the Assigned Interest) of any of its obligations under the Note Purchase
Agreement. 
  

					
	 1.
	 	Assignor:	  	                                      
      
			
	 2.
	 	Assignee:	  	                                      
       [and is an Affiliate of [identify Purchaser]]
			
	 3.
	 	Issuer:	  	Movella Inc., a Delaware corporation
			
	 4.
	 	Note Purchase Agreement:	  	Note Purchase Agreement dated as of November 14, 2022 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Note Purchase Agreement”) among Movella Inc., a Delaware
corporation (the “Issuer”), the Guarantors from time to time party thereto, the Purchasers from time to time party thereto and the Agent.

					
	 5.
	 	Assigned Interest:	  	 

							
	Aggregate Principal
Amount of [Pre-
Merger][Venture-
Linked] Senior Secured
Notes for 
all Purchasers	  	Amount of [Pre-
Merger][Venture-
Linked] Senior Secured
Notes Assigned	  	
Percentage Assigned of
[Pre-Merger][Venture-
Linked] Senior Secured

Notes
	  	Issuer
				
	  	  	  	  	  	  	  
				
	  	  	  	  	  	  	  

  

					
			
	 6.
	 	Trade Date:	  	                                      
      
			
	 7.
	 	Effective Date:	  	                                      
      

 The terms set forth in this Assignment and Assumption Agreement are hereby agreed to: 

 

							
	ASSIGNOR:	 		 		 	[NAME OF ASSIGNOR]
				
		 		 		 	By:
                                         
                       
		 		 		 	Name:
		 		 		 	Title:
				
	ASSIGNEE:	 		 		 	 [NAME OF ASSIGNEE]

				
		 		 		 	By:
                                         
                       
		 		 		 	Name:
		 		 		 	Title:

 [Accepted and agreed to by: 
  

							
	ISSUER:	 		 		 	 MOVELLA INC.

				
		 		 		 	By:
                                         
                       
		 		 		 	Name:
		 		 		 	 Title:]1

  

	1 	 Issuer consent required if Assignee is not a Permitted Successor and Assign. Permitted Successor and Assign
means (a) to the extent the VLN Termination Date has occurred, with respect to any Purchaser, such Person’s successors and assigns and (b) to the extent the VLN Termination Date has not occurred, with respect to any Purchaser, a
managed fund, Affiliate, financing party or investment vehicle of, Francisco Partners or an Approved Fund of Francisco Partners. 

 Acknowledged: 

Wilmington Savings Fund Society, FSB, 
 as Agent 

 

			
	By:	 	  

			
	Name:	 	
	Title:	 	

 Annex 1 to Assignment and Assumption Agreement 

STANDARD TERMS AND CONDITIONS 
  

	1.	 Representations and Warranties. 

1.1.    Assignor. The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned
Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption
Agreement and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Note Purchase Agreement or any other
Note Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Note Documents or any collateral thereunder, (iii) the financial condition of the Issuers, any of their Subsidiaries or
Affiliates or any other Person obligated in respect of any Note Document or (iv) the performance or observance by the Issuers, any of their Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Note
Document or any instrument or document furnished pursuant thereto. 
 1.2.    Assignee. The Assignee (a) represents and
warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption Agreement and to consummate the transactions contemplated hereby and to become a Purchaser under the
Note Purchase Agreement, (ii) it meets the requirements to be an assignee under Section 12.06(b) of the Note Purchase Agreement, (iii) from and after the Effective Date, it shall be bound by the provisions of the
Note Purchase Agreement as a Purchaser thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Purchaser thereunder, (iv) it is sophisticated with respect to decisions to acquire assets of the type represented by
the Assigned Interest and either it, or the Person exercising discretion in making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type, and acknowledges that the Notes have not been registered under the
Securities Act or the securities laws of any state or other jurisdiction, (v) each of the representations and warranties set out in Article VI-A of the Note Purchase Agreement are true and correct in
respect of the Assignee, (vi) it has received a copy of the Note Purchase Agreement, and has received or has been accorded the opportunity to receive copies of the most recent financial statements delivered pursuant to
Section 7.01 thereof, as applicable, and such other documents and information as it deems appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption Agreement and to purchase the
Assigned Interest, and (vii) it has, independently and without reliance upon the Agent or any other Purchaser and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this
Assignment and Assumption Agreement and to purchase the Assigned Interest; and (b) agrees that (i) it will, independently and without reliance on the Agent, the Assignor or any other Purchaser, and based on such documents and information
as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Note Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of
the Note Documents are required to be performed by it as a Purchaser. 
 2.    General Provisions. This Assignment and Assumption
Agreement shall be binding upon, and inure to the benefit of, the parties hereto, the Issuer and their respective successors and assigns. This Assignment and Assumption Agreement may be executed in any number of counterparts (and by different
parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and Assumption
Agreement by facsimile or other electronic imaging means (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption Agreement. This Assignment and Assumption
Agreement shall be governed by, and construed in accordance with, the law of the State of New York.

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