Document:

Exhibit 10.5

 

PARTS iD, INC.

 

RESTRICTED STOCK UNITS AGREEMENT

 

Parts iD, Inc. has
granted to the Participant named in the Notice of Grant of Restricted Stock Units (the “Grant Notice”)
to which this Restricted Stock Units Agreement (the “Agreement”) is attached an Award consisting of Restricted
Stock Units (each a “Unit”) subject to the terms and conditions set forth in the Grant Notice and this
Agreement. The Award has been granted pursuant to and shall in all respects be subject to the terms and conditions of the Parts
iD, Inc. 2020 Equity Incentive Plan (the “Plan”), as amended to the Date of Grant, the provisions of
which are incorporated herein by reference. By signing the Grant Notice, the Participant: (a) acknowledges receipt of and
represents that the Participant has read and is familiar with the Grant Notice, this Agreement, the Plan and a prospectus for the
Plan prepared in connection with the registration with the Securities and Exchange Commission of the shares issuable pursuant to
the Award (the “Plan Prospectus”), (b) accepts the Award subject to all of the terms and conditions
of the Grant Notice, this Agreement and the Plan and (c) agrees to accept as binding, conclusive and final all decisions or
interpretations of the Committee upon any questions arising under the Grant Notice, this Agreement or the Plan.

 

1. Definitions
and Construction.

 

1.1 Definitions.
Unless otherwise defined herein, capitalized terms shall have the meanings assigned to such terms in the Grant Notice or the Plan.

 

1.2 Construction.
Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision
of this Agreement. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include
the singular. Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise.

 

2. Administration.

 

All questions of interpretation
concerning the Grant Notice, this Agreement, the Plan or any other form of agreement or other document employed by the Company
in the administration of the Plan or the Award shall be determined by the Committee. All such determinations by the Committee shall
be final, binding and conclusive upon all persons having an interest in the Award, unless fraudulent or made in bad faith. Any
and all actions, decisions and determinations taken or made by the Committee in the exercise of its discretion pursuant to the
Plan or the Award or other agreement thereunder (other than determining questions of interpretation pursuant to the preceding sentence)
shall be final, binding and conclusive upon all persons having an interest in the Award. Any Officer shall have the authority to
act on behalf of the Company with respect to any matter, right, obligation, or election which is the responsibility of or which
is allocated to the Company herein, provided the Officer has apparent authority with respect to such matter, right, obligation,
or election.

 

3. The
Award.

 

3.1 Grant of Units.
On the Date of Grant, the Participant shall acquire, subject to the provisions of this Agreement, the Total Number of Units set
forth in the Grant Notice, subject to adjustment as provided in Section 9. Each Unit represents a right to receive on a date
determined in accordance with the Grant Notice and this Agreement one (1) share of Stock.

  

     

     

    

 

3.2 No Monetary
Payment Required. The Participant is not required to make any monetary payment (other than applicable tax withholding, if any)
as a condition to receiving the Units or shares of Stock issued upon settlement of the Units, the consideration for which shall
be past services actually rendered or future services to be rendered to a Participating Company or for its benefit. Notwithstanding
the foregoing, if required by applicable law, the Participant shall furnish consideration in the form of cash or past services
rendered to a Participating Company or for its benefit having a value not less than the par value of the shares of Stock issued
upon settlement of the Units.

 

4. Vesting
of Units.

 

4.1 Scheduled Vesting.
Units acquired pursuant to this Agreement shall become Vested Units as provided in the Grant Notice, and shall be settled as soon
as practicable, and no later than the fifteenth day of the third month following, the Scheduled Vesting Date, in each case, subject
to the Participant’s continuous provision of Service from the Date of Grant through the applicable Scheduled Vesting Date,
and the Participant’s continuous compliance from the Date of Grant through the settlement date of the Vested Units with the
following: [insert any additional vesting criteria] (the “Agreement Conditions”) .

 

4.2 [Insert any applicable
additional vesting provisions]

 

5. Company
Reacquisition Right.

 

5.1 Grant of Company
Reacquisition Right. In the event that the Participant’s Service terminates for any reason or no reason, with or without
Cause, or upon the Participant’s breach of the Agreement Conditions, the Participant shall forfeit and the Company shall
automatically reacquire all Units which are not, as of the time of such termination or breach, as the case may be, Vested Units
(“Unvested Units”), and the Participant shall not be entitled to any payment therefor (the “Company
Reacquisition Right”). In the event that the Participant breaches any of the Agreement Conditions prior to the settlement
of any Vested Units, the Participant shall forfeit and the Company shall automatically reacquire all such Units pursuant to the
Company Reacquisition Right and the Participant shall not be entitled to any payment therefor.

 

5.2 Ownership Change
Event, Non-Cash Dividends, Distributions and Adjustments. Upon the occurrence of an Ownership Change Event, a dividend
or distribution to the stockholders of the Company paid in shares of Stock or other property, or any other adjustment upon a change
in the capital structure of the Company as described in Section 9, any and all new, substituted or additional securities or
other property (other than regular, periodic cash dividends paid on Stock pursuant to the Company’s dividend policy) to which
the Participant is entitled by reason of the Participant’s ownership of Unvested Units shall be immediately subject to the
Company Reacquisition Right and included in the terms “Units” and “Unvested Units” for all purposes of
the Company Reacquisition Right with the same force and effect as the Unvested Units immediately prior to the Ownership Change
Event, dividend, distribution or adjustment, as the case may be. For purposes of determining the number of Vested Units following
an Ownership Change Event, dividend, distribution or adjustment, credited Service shall include all Service with any corporation
which is a Participating Company at the time the Service is rendered, whether or not such corporation is a Participating Company
both before and after any such event.

 

6. Settlement
of the Award.

 

6.1 Issuance of
Shares of Stock. Subject to the provisions of Sections 4, 5, 6.3 and Section 7, the Company shall issue to the
Participant on the applicable settlement date with respect to each Vested Unit to be settled on such date one (1) share of Stock.
Shares of Stock issued in settlement of Units shall not be subject to any restriction on transfer other than any such restriction
as may be required pursuant to Section 6.3, Section 7 or the Company’s Trading Compliance Policy.

 

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6.2 Beneficial
Ownership of Shares; Certificate Registration. The Participant hereby authorizes the Company, in its sole discretion,
to deposit any or all shares acquired by the Participant pursuant to the settlement of the Award with the Company’s transfer
agent, including any successor transfer agent, to be held in book entry form, or to deposit such shares for the benefit of the
Participant with any broker with which the Participant has an account relationship of which the Company has notice. Except as provided
by the foregoing, a certificate for the shares acquired by the Participant shall be registered in the name of the Participant,
or, if applicable, in the names of the heirs of the Participant.

 

6.3 Restrictions
on Grant of the Award and Issuance of Shares. The grant of the Award and issuance of shares of Stock upon settlement
of the Award shall be subject to compliance with all applicable requirements of federal, state or foreign law with respect to such
securities. No shares of Stock may be issued hereunder if the issuance of such shares would constitute a violation of any applicable
federal, state or foreign securities laws or other law or regulations or the requirements of any stock exchange or market system
upon which the Stock may then be listed. The inability of the Company to obtain from any regulatory body having jurisdiction the
authority, if any, deemed by the Company’s legal counsel to be necessary to the lawful issuance of any shares subject to
the Award shall relieve the Company of any liability in respect of the failure to issue such shares as to which such requisite
authority shall not have been obtained. As a condition to the settlement of the Award, the Company may require the Participant
to satisfy any qualifications that may be necessary or appropriate, to evidence compliance with any applicable law or regulation
and to make any representation or warranty with respect thereto as may be requested by the Company.

 

6.4 Fractional
Shares. The Company shall not be required to issue fractional shares upon the settlement of the Award.

 

7. Tax
Withholding.

 

7.1 In General.
At the time the Grant Notice is executed, or at any time thereafter as requested by a Participating Company, the Participant hereby
authorizes withholding from payroll and any other amounts payable to the Participant, and otherwise agrees to make adequate provision
for, any sums required to satisfy the federal, state, local and foreign tax (including any social insurance) withholding obligations
of the Participating Company, if any, which arise in connection with the Award, the vesting of Units or the issuance of shares
of Stock in settlement thereof. The Company shall have no obligation to deliver shares of Stock until the tax withholding obligations
of the Participating Company have been satisfied by the Participant.

 

7.2 Assignment
of Sale Proceeds. Subject to compliance with applicable law and the Company’s Trading Compliance Policy, if permitted
by the Company, the Participant may satisfy the Participating Company’s tax withholding obligations in accordance with procedures
established by the Company providing for delivery by the Participant to the Company or a broker approved by the Company of properly
executed instructions, in a form approved by the Company, providing for the assignment to the Company of the proceeds of a sale
with respect to some or all of the shares being acquired upon settlement of Units.

 

7.3 Withholding
in Shares. The Company shall have the right, but not the obligation, to require the Participant to satisfy all or any portion
of a Participating Company’s tax withholding obligations by deducting from the shares of Stock otherwise deliverable to the
Participant in settlement of the Award a number of whole shares having a fair market value, as determined by the Company as of
the date on which the tax withholding obligations arise.

 

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8. Effect
of Change in Control.

 

In the event of a Change
in Control, the Award shall be subject to the definitive agreement entered into by the Company in connection with the Change in
Control. The surviving, continuing, successor, or purchasing entity or parent thereof, as the case may be (the “Acquiror”),
may, without the consent of the Participant, assume or continue in full force and effect the Company’s rights and obligations
under all or any portion of the outstanding Units or substitute for all or any portion of the outstanding Units substantially equivalent
rights with respect to the Acquiror’s stock. For purposes of this Section, a Unit shall be deemed assumed if, following the
Change in Control, the Unit confers the right to receive, subject to the terms and conditions of the Plan and this Agreement, the
consideration (whether stock, cash, other securities or property or a combination thereof) to which a holder of a share of Stock
on the effective date of the Change in Control was entitled (and if holders were offered a choice of consideration, the type of
consideration chosen by the holders of a majority of the outstanding shares of Stock); provided, however, that if such consideration
is not solely common stock of the Acquiror, the Committee may, with the consent of the Acquiror, provide for the consideration
to be received upon settlement of the Unit to consist solely of common stock of the Acquiror equal in Fair Market Value to the
per share consideration received by holders of Stock pursuant to the Change in Control. If the Acquiror does not assume or continue
the outstanding Units in accordance with the provisions of this Section 8, as determined by the Committee, then all such unvested
Units shall immediately vest in full and be settled upon the occurrence of the Change in Control.

 

9. Adjustments
for Changes in Capital Structure.

 

Subject to any required
action by the stockholders of the Company and the requirements of Section 409A of the Code to the extent applicable, in the event
of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation, reorganization,
reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off,
combination of shares, exchange of shares, or similar change in the capital structure of the Company, or in the event of payment
of a dividend or distribution to the stockholders of the Company in a form other than Stock (other than regular, periodic cash
dividends paid on Stock pursuant to the Company’s dividend policy) that has a material effect on the Fair Market Value of
shares of Stock, the Committee shall, to the extent deemed appropriate by the Committee, make adjustments in the number of Units
subject to the Award and/or the number and kind of shares or other property to be issued in settlement of the Award, in order to
prevent dilution or enlargement of the Participant’s rights under the Award. For purposes of the foregoing, conversion of
any convertible securities of the Company shall not be treated as “effected without receipt of consideration by the Company.”
Any and all new, substituted or additional securities or other property (other than regular, periodic cash dividends paid on Stock
pursuant to the Company’s dividend policy) to which the Participant is entitled by reason of ownership of Units acquired
pursuant to this Award will be immediately subject to the provisions of this Award on the same basis as all Units originally acquired
hereunder. Any fractional Unit or share resulting from an adjustment pursuant to this Section shall be rounded down to the nearest
whole number. All determinations pursuant to this Section shall be made by the Committee and shall be final, binding and conclusive.

 

10. Rights
as a Stockholder, Director, Employee or Consultant.

 

The Participant shall
have no rights as a stockholder with respect to any shares which may be issued in settlement of this Award until the date of the
issuance of such shares (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent
of the Company). No adjustment shall be made for dividends, distributions or other rights for which the record date is prior to
the date the shares are issued, except as expressly provided by the Committee pursuant to Section 9. If the Participant is
an Employee, the Participant understands and acknowledges that, except as otherwise provided in a separate, written employment
agreement between a Participating Company and the Participant, the Participant’s employment is “at will” and
is for no specified term. Nothing in this Agreement shall confer upon the Participant any right to continue in the Service of a
Participating Company or interfere in any way with any right of the Participating Company Group to terminate the Participant’s
Service at any time. The Award is a one-time benefit provided by the Company on an entirely discretionary basis and creates no
vested rights in the Participant or any other rights to receive Awards or other benefits in the future. Nothing in this Agreement
shall confer upon the Participant any right or benefit other than as specifically set forth in this Agreement and the Plan.

 

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11. CERTAIN
ADDITIONAL COVENANTS.

 

In consideration of the
grant to Participant of the Units, the Participant hereby agrees as follows: [Insert as applicable]

 

12. Legends.

 

The Company may at any
time place legends referencing any applicable federal, state or foreign securities law restrictions on all certificates representing
shares of stock issued pursuant to this Agreement. The Participant shall, at the request of the Company, promptly present to the
Company any and all certificates representing shares acquired pursuant to this Award in the possession of the Participant in order
to carry out the provisions of this Section.

 

13. Compliance
with Section 409A.

 

It is intended that any
election, payment or benefit which is made or provided pursuant to or in connection with this Award that may result in Section
409A Deferred Compensation shall comply in all respects with the applicable requirements of Section 409A (including applicable
regulations or other administrative guidance thereunder, as determined by the Committee in good faith) to avoid the unfavorable
tax consequences provided therein for non-compliance. In connection with effecting such compliance with Section 409A, the following
shall apply:

 

13.1 Separation
from Service; Required Delay in Payment to Specified Employee. Notwithstanding anything set forth herein to the contrary, no
amount payable pursuant to this Agreement on account of the Participant’s termination of Service which constitutes a “deferral
of compensation” within the meaning of the Treasury Regulations issued pursuant to Section 409A of the Code (the “Section
409A Regulations”) shall be paid unless and until the Participant has incurred a “separation from service” within
the meaning of the Section 409A Regulations. Furthermore, to the extent that the Participant is a “specified employee”
within the meaning of the Section 409A Regulations as of the date of the Participant’s separation from service, no amount
that constitutes a deferral of compensation which is payable on account of the Participant’s separation from service shall
be paid to the Participant before the date (the “Delayed Payment Date”) which is the first day of the seventh month
after the date of the Participant’s separation from service or, if earlier, the date of the Participant’s death following
such separation from service. All such amounts that would, but for this Section, become payable prior to the Delayed Payment Date
will be accumulated and paid on the Delayed Payment Date.

 

13.2 Other Changes
in Time of Payment. Neither the Participant nor the Company shall take any action to accelerate or delay the payment of any
benefits under this Agreement in any manner which would not be in compliance with the Section 409A Regulations.

 

13.3 Amendments
to Comply with Section 409A; Indemnification. Notwithstanding any other provision of this Agreement to the contrary, the Company
is authorized to amend this Agreement, to void or amend any election made by the Participant under this Agreement and/or to delay
the payment of any monies and/or provision of any benefits in such manner as may be determined by the Company, in its discretion,
to be necessary or appropriate to comply with the Section 409A Regulations without prior notice to or consent of the Participant.
The Participant hereby releases and holds harmless the Company, its directors, officers and stockholders from any and all claims
that may arise from or relate to any tax liability, penalties, interest, costs, fees or other liability incurred by the Participant
in connection with the Award, including as a result of the application of Section 409A.

 

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13.4 Advice of
Independent Tax Advisor. The Company has not obtained a tax ruling or other confirmation from the Internal Revenue Service
with regard to the application of Section 409A to the Award, and the Company does not represent or warrant that this Agreement
will avoid adverse tax consequences to the Participant, including as a result of the application of Section 409A to the Award.
The Participant hereby acknowledges that he or she has been advised to seek the advice of his or her own independent tax advisor
prior to entering into this Agreement and is not relying upon any representations of the Company or any of its agents as to the
effect of or the advisability of entering into this Agreement.

 

14. Miscellaneous
Provisions.

 

14.1 Termination
or Amendment. The Committee may terminate or amend the Plan or this Agreement at any time; provided, however, that except as
provided in Section 8 in connection with a Change in Control, no such termination or amendment may have a materially adverse
effect on the Participant’s rights under this Agreement without the consent of the Participant unless such termination or
amendment is necessary to comply with applicable law or government regulation, including, but not limited to, Section 409A. No
amendment or addition to this Agreement shall be effective unless in writing.

 

14.2 Nontransferability
of the Award. Prior to the issuance of shares of Stock on the applicable Settlement Date, neither this Award nor any Units
subject to this Award shall be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge,
encumbrance, or garnishment by creditors of the Participant or the Participant’s beneficiary, except transfer by will or
by the laws of descent and distribution. All rights with respect to the Award shall be exercisable during the Participant’s
lifetime only by the Participant or the Participant’s guardian or legal representative.

 

14.3 Further Instruments.
The parties hereto agree to execute such further instruments and to take such further action as may reasonably be necessary to
carry out the intent of this Agreement.

 

14.4 Binding Effect.
This Agreement shall inure to the benefit of the successors and assigns of the Company and, subject to the restrictions on transfer
set forth herein, be binding upon the Participant and the Participant’s heirs, executors, administrators, successors and
assigns.

 

14.5 Delivery of
Documents and Notices. Any document relating to participation in the Plan or any notice required or permitted hereunder shall
be given in writing and shall be deemed effectively given (except to the extent that this Agreement provides for effectiveness
only upon actual receipt of such notice) upon personal delivery, electronic delivery at the e-mail address, if any, provided for
the Participant by a Participating Company, or upon deposit in the U.S. Post Office or foreign postal service, by registered or
certified mail, or with a nationally recognized overnight courier service, with postage and fees prepaid, addressed to the other
party at the address of such party set forth in the Grant Notice or at such other address as such party may designate in writing
from time to time to the other party.

 

(a) Description
of Electronic Delivery and Signature. The Plan documents, which may include but do not necessarily include: the Plan, the Grant
Notice, this Agreement, the Plan Prospectus, and any reports of the Company provided generally to the Company’s stockholders,
may be delivered to the Participant electronically. In addition, if permitted by the Company, the Participant may deliver electronically
the Grant Notice to the Company or to such third party involved in administering the Plan as the Company may designate from time
to time. Such means of electronic delivery may include but do not necessarily include the delivery of a link to a Company intranet
or the Internet site of a third party involved in administering the Plan, the delivery of the document via e-mail or such other
means of electronic delivery specified by the Company. Any and all such documents and notices may be electronically signed.

 

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(b) Consent to
Electronic Delivery and Signature. The Participant acknowledges that the Participant has read Section 14.5(a) of this
Agreement and consents to the electronic delivery of the Plan documents and, if permitted by the Company, the delivery of the Grant
Notice, as described in Section 14.5(a). The Participant agrees that any and all such documents requiring a signature may
be electronically signed and that such electronic signature shall have the same effect as handwritten signature for the purposes
of validity, enforceability and admissibility. The Participant acknowledges that he or she may receive from the Company a paper
copy of any documents delivered electronically at no cost to the Participant by contacting the Company by telephone or in writing.
The Participant further acknowledges that the Participant will be provided with a paper copy of any documents if the attempted
electronic delivery of such documents fails. Similarly, the Participant understands that the Participant must provide the Company
or any designated third party administrator with a paper copy of any documents if the attempted electronic delivery of such documents
fails. The Participant may revoke his or her consent to the electronic delivery of documents described in Section 14.5(a)
or may change the electronic mail address to which such documents are to be delivered (if Participant has provided an electronic
mail address) at any time by notifying the Company of such revoked consent or revised e-mail address by telephone, postal service
or electronic mail. Finally, the Participant understands that he or she is not required to consent to electronic delivery of documents
described in Section 14.5(a).

 

14.6 Integrated
Agreement. The Grant Notice, this Agreement and the Plan shall constitute the entire understanding and agreement of the Participant
and the Participating Company Group with respect to the Award and supersede any prior agreements, understandings, restrictions,
representations, or warranties among the Participant and the Participating Company Group with respect to such subject matter. To
the extent contemplated herein or therein, the provisions of the Grant Notice, this Agreement and the Plan shall survive any settlement
of the Award and shall remain in full force and effect.

 

14.7 Applicable
Law. This Agreement shall be governed by the laws of the State of Delaware, without regard to its conflict of law rules. The
Participant hereby irrevocably and unconditionally consents to and submits to the exclusive jurisdiction of the courts of the State
of Delaware and of the United States of America located in such state (the “Delaware Courts”) for any
litigation arising out of or relating to this Agreement and the transactions contemplated hereby (and agrees not to commence any
litigation relating thereto except in such courts), waives any objection to the laying of venue of any such litigation in the Delaware
Courts and agrees not to plead or claim in any Delaware Court that such litigation brought therein has been brought in any inconvenient
forum.

 

14.8 Counterparts.
The Grant Notice may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

 

14.9 Transfer of
Data. The Participant understands that the Participating Company Group holds certain personal information about the Participant,
including, but not limited to, information such as the Participant’s name, home address, telephone number, date of birth,
salary, nationality, job title, social security number, social insurance number or other such tax identity number and details of
all Awards or other entitlement to shares of common stock awarded, cancelled, exercised, vested, unvested or outstanding in the
Participant’s favor (“Personal Data”). The Participant understands that in order for the Company
to process the Award and maintain records under the Plan, the Company shall collect, use, transfer and disclose Personal Data within
the Company and among the Participating Company Group electronically or otherwise, as necessary for the implementation and administration
of the Plan including, in the case of a social insurance number, for income reporting purposes as required by law. The Participant
further understands that the Company may transfer Personal Data, electronically or otherwise, to third parties, including but not
limited to such third parties as outside tax, accounting, technical and legal consultants when such third parties are assisting
the Company in the implementation and administration of the Plan. The Participant understands that such recipients may be located
within the jurisdiction of the Participant’s residence, or within the United States or elsewhere and are subject to the legal
requirements in those jurisdictions. The Participant understands that the employees of the Participating Company Group and third
parties performing work related to the implementation and administration of the Plan shall have access to the Personal Data as
is necessary to fulfill their duties related to the implementation and administration of the Plan. By accepting this Award, the
Participant consents, to the fullest extent permitted by law, to the collection, use, transfer and disclosure, electronically or
otherwise, of the Participant’s Personal Data by or to such entities for such purposes and the Participant accepts that this
may involve the transfer of Personal Data to a country which may not have the same level of data protection law as the country
in which this Agreement is executed. The Participant confirms that if the Participant has provided or, in the future, will provide
Personal Data concerning third parties including beneficiaries, the Participant has the consent of such third party to provide
their Personal Data to the Company for the same purposes. The Participant further understands that the Participant may, at any
time, request to review the Personal Data and require any necessary amendments to it by contacting the Company in writing. As well,
the Participant may always elect to forgo participation in the Plan or any other award program.

 

 

7Exhibit 10.6

 

PARTS iD, INC.

 

PERFORMANCE UNITS AGREEMENT

 

Parts iD, Inc. has
granted to the Participant named in the Notice of Grant of Performance Units (the “Grant Notice”)
to which this Performance Units Agreement (the “Agreement”) is attached an Award consisting of performance
units (each a “Unit”) subject to the terms and conditions set forth in the Grant Notice and this Agreement
(including Exhibit A hereto). The Award has been granted pursuant to and shall in all respects be subject to the terms and
conditions of the Parts iD, Inc. 2020 Equity Incentive Plan (the “Plan”), as amended to the Date of Grant,
the provisions of which are incorporated herein by reference. By signing the Grant Notice, the Participant: (a) acknowledges
receipt of and represents that the Participant has read and is familiar with the Grant Notice, this Agreement, the Plan and a prospectus
for the Plan prepared in connection with the registration with the Securities and Exchange Commission of the shares issuable pursuant
to the Award (the “Plan Prospectus”), (b) accepts the Award subject to all of the terms and conditions
of the Grant Notice, this Agreement and the Plan and (c) agrees to accept as binding, conclusive and final all decisions or
interpretations of the Committee upon any questions arising under the Grant Notice, this Agreement or the Plan.

 

1. Definitions
and Construction.

 

1.1 Definitions.
Unless otherwise defined herein, capitalized terms shall have the meanings assigned to such terms in the Grant Notice or the Plan.

 

1.2 Construction.
Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision
of this Agreement. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include
the singular. Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise.

 

2. Administration.

 

All questions of interpretation
concerning the Grant Notice, this Agreement, the Plan or any other form of agreement or other document employed by the Company
in the administration of the Plan or the Award shall be determined by the Committee. All such determinations by the Committee shall
be final, binding and conclusive upon all persons having an interest in the Award, unless fraudulent or made in bad faith. Any
and all actions, decisions and determinations taken or made by the Committee in the exercise of its discretion pursuant to the
Plan or the Award or other agreement thereunder (other than determining questions of interpretation pursuant to the preceding sentence)
shall be final, binding and conclusive upon all persons having an interest in the Award. Any Officer shall have the authority to
act on behalf of the Company with respect to any matter, right, obligation, or election which is the responsibility of or which
is allocated to the Company herein, provided the Officer has apparent authority with respect to such matter, right, obligation,
or election.

 

3. The
Award.

 

3.1 Grant of Units.
On the Date of Grant, the Participant shall acquire, subject to the provisions of this Agreement, the Total Number of Units set
forth in the Grant Notice, subject to adjustment as provided in Section 9. Each Unit represents a right to receive on a date
determined in accordance with the Grant Notice, this Agreement and Exhibit A, one (1) share of Stock.

 

    	 

    	

    

 

3.2 No Monetary
Payment Required. The Participant is not required to make any monetary payment (other than applicable tax withholding, if any)
as a condition to receiving the Units or shares of Stock issued upon settlement of the Units, the consideration for which shall
be past services actually rendered or future services to be rendered to a Participating Company or for its benefit. Notwithstanding
the foregoing, if required by applicable law, the Participant shall furnish consideration in the form of cash or past services
rendered to a Participating Company or for its benefit having a value not less than the par value of the shares of Stock issued
upon settlement of the Units.

 

4. Vesting
of Units.

 

4.1 Scheduled Vesting.
The number of Units that have been earned during the Performance Period, as determined by the Committee in accordance with Exhibit
A, will vest on the Scheduled Vesting Date and become “Vested Units” subject to the Participant’s
continuous provision of Service and compliance with the Agreement Conditions (as defined below) from the Date of Grant through[DATE].
For these purposes, the “Scheduled Vesting Date” means the date on which the Committee certifies the
degree to which the applicable performance goals for the Performance Period have been satisfied and the number of Units that have
been earned as determined in accordance with Exhibit A, which certification shall occur no later than [DATE]. Any Units
that do not become Vested Units on the Scheduled Vesting Date shall be immediately forfeited and the Company shall automatically
reacquire all of the Units that do not become Vested Units, and the Participant shall not be entitled to any payment therefor.
Units that become Vested Units on the Scheduled Vesting Date shall be settled on the Scheduled Vesting Date or as soon as practicable
thereafter, and in any event no later than March 15, 2024, provided that at all times from the Date of Grant through the settlement
date of the Units [insert as applicable] (the “Agreement Conditions”).

 

4.2 [Insert any additional vesting provisions]

 

5. Company
Reacquisition Right.

 

5.1 Grant of Company
Reacquisition Right. In the event that the Participant’s Service terminates for any reason (or no reason) prior to [DATE],
the Participant shall forfeit and the Company shall automatically reacquire all of the Units and the Participant shall not be entitled
to any payment therefor (the “Company Reacquisition Right”). Any Units that do not become Vested Units
on the Scheduled Vesting Date shall be forfeited by the Participant and the Company shall automatically reacquire all such Units
pursuant to the Company Reacquisition Right, and the Participant shall not be entitled to any payment therefor. In the event that
the Participant breaches any of the Agreement Conditions prior to the settlement of any Vested Units, the Participant shall forfeit
and the Company shall automatically reacquire all such Units pursuant to the Company Reacquisition Right and the Participant shall
not be entitled to any payment therefor.

 

5.2 Ownership Change
Event, Non-Cash Dividends, Distributions and Adjustments. Upon the occurrence of an Ownership Change Event, a dividend
or distribution to the stockholders of the Company paid in shares of Stock or other property, or any other adjustment upon a change
in the capital structure of the Company as described in Section 9, any and all new, substituted or additional securities or
other property (other than regular, periodic cash dividends paid on Stock pursuant to the Company’s dividend policy) to which
the Participant is entitled by reason of the Participant’s ownership of Unvested Units shall be immediately subject to the
Company Reacquisition Right and included in the terms “Units” and “Unvested Units” for all purposes of
the Company Reacquisition Right with the same force and effect as the Unvested Units immediately prior to the Ownership Change
Event, dividend, distribution or adjustment, as the case may be. For purposes of determining the number of Vested Units following
an Ownership Change Event, dividend, distribution or adjustment, credited Service shall include all Service with any corporation
which is a Participating Company at the time the Service is rendered, whether or not such corporation is a Participating Company
both before and after any such event.

 

    2

     

    

 

6. Settlement
of the Award.

 

6.1 Issuance of
Shares of Stock. Subject to the provisions of Sections 4, 5, 6.3 and 7, the Company shall issue to the Participant
on the applicable settlement date with respect to each Vested Unit to be settled on such date one (1) share of Stock. Shares of
Stock issued in settlement of Vested Units shall not be subject to any restriction on transfer other than any such restriction
as may be required pursuant to Section 6.3, Section 7 or the Company’s Trading Compliance Policy.

 

6.2 Beneficial
Ownership of Shares; Certificate Registration. The Participant hereby authorizes the Company, in its sole discretion,
to deposit any or all shares acquired by the Participant pursuant to the settlement of the Award with the Company’s transfer
agent, including any successor transfer agent, to be held in book entry form, or to deposit such shares for the benefit of the
Participant with any broker with which the Participant has an account relationship of which the Company has notice. Except as provided
by the foregoing, a certificate for the shares acquired by the Participant shall be registered in the name of the Participant,
or, if applicable, in the names of the heirs of the Participant.

 

6.3 Restrictions
on Grant of the Award and Issuance of Shares. The grant of the Award and issuance of shares of Stock upon settlement
of the Award shall be subject to compliance with all applicable requirements of federal, state or foreign law with respect to such
securities. No shares of Stock may be issued hereunder if the issuance of such shares would constitute a violation of any applicable
federal, state or foreign securities laws or other law or regulations or the requirements of any stock exchange or market system
upon which the Stock may then be listed. The inability of the Company to obtain from any regulatory body having jurisdiction the
authority, if any, deemed by the Company’s legal counsel to be necessary to the lawful issuance of any shares subject to
the Award shall relieve the Company of any liability in respect of the failure to issue such shares as to which such requisite
authority shall not have been obtained. As a condition to the settlement of the Award, the Company may require the Participant
to satisfy any qualifications that may be necessary or appropriate, to evidence compliance with any applicable law or regulation
and to make any representation or warranty with respect thereto as may be requested by the Company.

 

6.4 Fractional
Shares. The Company shall not be required to issue fractional shares upon the settlement of the Award.

 

7. Tax
Withholding.

 

7.1 In General.
At the time the Grant Notice is executed, or at any time thereafter as requested by a Participating Company, the Participant hereby
authorizes withholding from payroll and any other amounts payable to the Participant, and otherwise agrees to make adequate provision
for, any sums required to satisfy the federal, state, local and foreign tax (including any social insurance) withholding obligations
of the Participating Company, if any, which arise in connection with the Award, the vesting of Units or the issuance of shares
of Stock in settlement thereof. The Company shall have no obligation to deliver shares of Stock until the tax withholding obligations
of the Participating Company have been satisfied by the Participant.

 

7.2 Assignment
of Sale Proceeds. Subject to compliance with applicable law and the Company’s Trading Compliance Policy, if permitted
by the Company, the Participant may satisfy the Participating Company’s tax withholding obligations in accordance with procedures
established by the Company providing for delivery by the Participant to the Company or a broker approved by the Company of properly
executed instructions, in a form approved by the Company, providing for the assignment to the Company of the proceeds of a sale
with respect to some or all of the shares being acquired upon settlement of Units.

 

    3

     

    

 

7.3 Withholding
in Shares. The Company shall have the right, but not the obligation, to require the Participant to satisfy all or any portion
of a Participating Company’s tax withholding obligations by deducting from the shares of Stock otherwise deliverable to the
Participant in settlement of the Award a number of whole shares having a fair market value, as determined by the Company as of
the date on which the tax withholding obligations arise, not in excess of the amount of such tax withholding obligations determined
by the applicable minimum statutory withholding rates if required to avoid liability classification of the Award under generally
accepted accounting principles in the United States.

 

8. Effect
of Change in Control.

 

In the event of a Change
in Control, the Award shall be subject to the definitive agreement entered into by the Company in connection with the Change in
Control. The surviving, continuing, successor, or purchasing entity or parent thereof, as the case may be (the “Acquiror”),
may, without the consent of the Participant, assume or continue in full force and effect the Company’s rights and obligations
under all or any portion of the outstanding Units or substitute for all or any portion of the outstanding Units substantially equivalent
rights with respect to the Acquiror’s stock. For purposes of this Section, a Unit shall be deemed assumed if, following the
Change in Control, the Unit confers the right to receive, subject to the terms and conditions of the Plan and this Agreement, the
consideration (whether stock, cash, other securities or property or a combination thereof) to which a holder of a share of Stock
on the effective date of the Change in Control was entitled (and if holders were offered a choice of consideration, the type of
consideration chosen by the holders of a majority of the outstanding shares of Stock); provided, however, that if such consideration
is not solely common stock of the Acquiror, the Committee may, with the consent of the Acquiror, provide for the consideration
to be received upon settlement of the Unit to consist solely of common stock of the Acquiror equal in Fair Market Value to the
per share consideration received by holders of Stock pursuant to the Change in Control. If the Acquiror does not assume or continue
the outstanding Units in accordance with the provisions of this Section 8, as determined by the Committee, then all unvested Units
shall immediately vest in full and be settled upon the occurrence of the Change in Control.

 

9. Adjustments
for Changes in Capital Structure.

 

Subject to any required
action by the stockholders of the Company and the requirements of Section 409A of the Code to the extent applicable, in the event
of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation, reorganization,
reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off,
combination of shares, exchange of shares, or similar change in the capital structure of the Company, or in the event of payment
of a dividend or distribution to the stockholders of the Company in a form other than Stock (other than regular, periodic cash
dividends paid on Stock pursuant to the Company’s dividend policy) that has a material effect on the Fair Market Value of
shares of Stock, the Committee shall, to the extent deemed appropriate by the Committee, make adjustments in the number of Units
subject to the Award and/or the number and kind of shares or other property to be issued in settlement of the Award, in order to
prevent dilution or enlargement of the Participant’s rights under the Award. For purposes of the foregoing, conversion of
any convertible securities of the Company shall not be treated as “effected without receipt of consideration by the Company.”
Any and all new, substituted or additional securities or other property (other than regular, periodic cash dividends paid on Stock
pursuant to the Company’s dividend policy) to which the Participant is entitled by reason of ownership of Units acquired
pursuant to this Award will be immediately subject to the provisions of this Award on the same basis as all Units originally acquired
hereunder. Any fractional Unit or share resulting from an adjustment pursuant to this Section shall be rounded down to the nearest
whole number. All determinations pursuant to this Section shall be made by the Committee and shall be final, binding and conclusive.

 

    4

     

    

 

10. Rights
as a Stockholder, Director, Employee or Consultant.

 

The Participant shall
have no rights as a stockholder with respect to any shares which may be issued in settlement of this Award until the date of the
issuance of such shares (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent
of the Company). No adjustment shall be made for dividends, distributions or other rights for which the record date is prior to
the date the shares are issued, except as expressly provided by the Committee pursuant to Section 9. If the Participant is
an Employee, the Participant understands and acknowledges that, except as otherwise provided in a separate, written employment
agreement between a Participating Company and the Participant, the Participant’s employment is “at will” and
is for no specified term. Nothing in this Agreement shall confer upon the Participant any right to continue in the Service of a
Participating Company or interfere in any way with any right of the Participating Company Group to terminate the Participant’s
Service at any time. The Award is a one-time benefit provided by the Company on an entirely discretionary basis and creates no
vested rights in the Participant or any other rights to receive Awards or other benefits in the future. Nothing in this Agreement
shall confer upon the Participant any right or benefit other than as specifically set forth in this Agreement and the Plan.

 

11. Certain
Additional Covenants. 

 

In consideration of the
grant to Participant of the Units, the Participant hereby agrees as follows: [Insert as applicable]

 

12. Legends.

 

The Company may at any
time place legends referencing any applicable federal, state or foreign securities law restrictions on all certificates representing
shares of stock issued pursuant to this Agreement. The Participant shall, at the request of the Company, promptly present to the
Company any and all certificates representing shares acquired pursuant to this Award in the possession of the Participant in order
to carry out the provisions of this Section.

 

13. Compliance
with Section 409A.

 

It is intended that any
election, payment or benefit which is made or provided pursuant to or in connection with this Award that may result in Section
409A Deferred Compensation shall comply in all respects with the applicable requirements of Section 409A (including applicable
regulations or other administrative guidance thereunder, as determined by the Committee in good faith) to avoid the unfavorable
tax consequences provided therein for non-compliance. In connection with effecting such compliance with Section 409A, the following
shall apply:

 

13.1 Separation
from Service; Required Delay in Payment to Specified Employee. Notwithstanding anything set forth herein to the contrary, no
amount payable pursuant to this Agreement on account of the Participant’s termination of Service which constitutes a “deferral
of compensation” within the meaning of the Treasury Regulations issued pursuant to Section 409A of the Code (the “Section
409A Regulations”) shall be paid unless and until the Participant has incurred a “separation from service”
within the meaning of the Section 409A Regulations. Furthermore, to the extent that the Participant is a “specified employee”
within the meaning of the Section 409A Regulations as of the date of the Participant’s separation from service, no amount
that constitutes a deferral of compensation which is payable on account of the Participant’s separation from service shall
be paid to the Participant before the date (the “Delayed Payment Date”) which is the first day of the
seventh month after the date of the Participant’s separation from service or, if earlier, the date of the Participant’s
death following such separation from service. All such amounts that would, but for this Section, become payable prior to the Delayed
Payment Date will be accumulated and paid on the Delayed Payment Date.

 

    5

     

    

 

13.2 Other Changes
in Time of Payment. Neither the Participant nor the Company shall take any action to accelerate or delay the payment of any
benefits under this Agreement in any manner which would not be in compliance with the Section 409A Regulations.

 

13.3 Amendments
to Comply with Section 409A; Indemnification. Notwithstanding any other provision of this Agreement to the contrary, the Company
is authorized to amend this Agreement, to void or amend any election made by the Participant under this Agreement and/or to delay
the payment of any monies and/or provision of any benefits in such manner as may be determined by the Company, in its discretion,
to be necessary or appropriate to comply with the Section 409A Regulations without prior notice to or consent of the Participant.
The Participant hereby releases and holds harmless the Company, its directors, officers and stockholders from any and all claims
that may arise from or relate to any tax liability, penalties, interest, costs, fees or other liability incurred by the Participant
in connection with the Award, including as a result of the application of Section 409A.

 

13.4 Advice of
Independent Tax Advisor. The Company has not obtained a tax ruling or other confirmation from the Internal Revenue Service
with regard to the application of Section 409A to the Award, and the Company does not represent or warrant that this Agreement
will avoid adverse tax consequences to the Participant, including as a result of the application of Section 409A to the Award.
The Participant hereby acknowledges that he or she has been advised to seek the advice of his or her own independent tax advisor
prior to entering into this Agreement and is not relying upon any representations of the Company or any of its agents as to the
effect of or the advisability of entering into this Agreement.

 

14. Miscellaneous
Provisions.

 

14.1 Termination
or Amendment. The Committee may terminate or amend the Plan or this Agreement at any time; provided, however, that except as
provided in Section 8 in connection with a Change in Control, no such termination or amendment may have a materially adverse
effect on the Participant’s rights under this Agreement without the consent of the Participant unless such termination or
amendment is necessary to comply with applicable law or government regulation, including, but not limited to, Section 409A. No
amendment or addition to this Agreement shall be effective unless in writing.

 

14.2 Nontransferability
of the Award. Prior to the issuance of shares of Stock on the applicable Settlement Date, neither this Award nor any Units
subject to this Award shall be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge,
encumbrance, or garnishment by creditors of the Participant or the Participant’s beneficiary, except transfer by will or
by the laws of descent and distribution. All rights with respect to the Award shall be exercisable during the Participant’s
lifetime only by the Participant or the Participant’s guardian or legal representative.

 

14.3 Further Instruments.
The parties hereto agree to execute such further instruments and to take such further action as may reasonably be necessary to
carry out the intent of this Agreement.

 

14.4 Binding Effect.
This Agreement shall inure to the benefit of the successors and assigns of the Company and, subject to the restrictions on transfer
set forth herein, be binding upon the Participant and the Participant’s heirs, executors, administrators, successors and
assigns.

 

14.5 Delivery of
Documents and Notices. Any document relating to participation in the Plan or any notice required or permitted hereunder shall
be given in writing and shall be deemed effectively given (except to the extent that this Agreement provides for effectiveness
only upon actual receipt of such notice) upon personal delivery, electronic delivery at the e-mail address, if any, provided for
the Participant by a Participating Company, or upon deposit in the U.S. Post Office or foreign postal service, by registered or
certified mail, or with a nationally recognized overnight courier service, with postage and fees prepaid, addressed to the other
party at the address of such party set forth in the Grant Notice or at such other address as such party may designate in writing
from time to time to the other party.

 

    6

     

    

 

(a) Description
of Electronic Delivery and Signature. The Plan documents, which may include but do not necessarily include: the Plan, the
Grant Notice, this Agreement, the Plan Prospectus, and any reports of the Company provided generally to the Company’s stockholders,
may be delivered to the Participant electronically. In addition, if permitted by the Company, the Participant may deliver electronically
the Grant Notice to the Company or to such third party involved in administering the Plan as the Company may designate from time
to time. Such means of electronic delivery may include but do not necessarily include the delivery of a link to a Company intranet
or the Internet site of a third party involved in administering the Plan, the delivery of the document via e-mail or such other
means of electronic delivery specified by the Company. Any and all such documents and notices may be electronically signed.

 

(b) Consent
to Electronic Delivery and Signature. The Participant acknowledges that the Participant has read Section 14.5(a) of
this Agreement and consents to the electronic delivery of the Plan documents and, if permitted by the Company, the delivery of
the Grant Notice, as described in Section 14.5(a). The Participant agrees that any and all such documents requiring a signature
may be electronically signed and that such electronic signature shall have the same effect as handwritten signature for the purposes
of validity, enforceability and admissibility. The Participant acknowledges that he or she may receive from the Company a paper
copy of any documents delivered electronically at no cost to the Participant by contacting the Company by telephone or in writing.
The Participant further acknowledges that the Participant will be provided with a paper copy of any documents if the attempted
electronic delivery of such documents fails. Similarly, the Participant understands that the Participant must provide the Company
or any designated third party administrator with a paper copy of any documents if the attempted electronic delivery of such documents
fails. The Participant may revoke his or her consent to the electronic delivery of documents described in Section 14.5(a)
or may change the electronic mail address to which such documents are to be delivered (if Participant has provided an electronic
mail address) at any time by notifying the Company of such revoked consent or revised e-mail address by telephone, postal service
or electronic mail. Finally, the Participant understands that he or she is not required to consent to electronic delivery of documents
described in Section 14.5(a).

 

14.6 Integrated
Agreement. The Grant Notice, this Agreement and the Plan shall constitute the entire understanding and agreement of the Participant
and the Participating Company Group with respect to the subject matter contained herein or therein and supersede any prior agreements,
understandings, restrictions, representations, or warranties among the Participant and the Participating Company Group with respect
to such subject matter. To the extent contemplated herein or therein, the provisions of the Grant Notice, this Agreement and the
Plan shall survive any settlement of the Award and shall remain in full force and effect.

 

14.7 Applicable
Law. This Agreement shall be governed by the laws of the State of Delaware as such laws are applied to agreements between Delaware
residents entered into and to be performed entirely within the State of Delaware.

 

14.8 Counterparts.
The Grant Notice may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

 

14.9 Transfer of
Data. The Participant understands that the Participating Company Group holds certain personal information about the Participant,
including, but not limited to, information such as the Participant’s name, home address, telephone number, date of birth,
salary, nationality, job title, social security number, social insurance number or other such tax identity number and details of
all Awards or other entitlement to shares of common stock awarded, cancelled, exercised, vested, unvested or outstanding in the
Participant’s favor (“Personal Data”). The Participant understands that in order for the Company
to process the Award and maintain records under the Plan, the Company shall collect, use, transfer and disclose Personal Data within
the Company and among the Participating Company Group electronically or otherwise, as necessary for the implementation and administration
of the Plan including, in the case of a social insurance number, for income reporting purposes as required by law. The Participant
further understands that the Company may transfer Personal Data, electronically or otherwise, to third parties, including but not
limited to such third parties as outside tax, accounting, technical and legal consultants when such third parties are assisting
the Company in the implementation and administration of the Plan. The Participant understands that such recipients may be located
within the jurisdiction of the Participant’s residence, or within the United States or elsewhere and are subject to the legal
requirements in those jurisdictions. The Participant understands that the employees of the Participating Company Group and third
parties performing work related to the implementation and administration of the Plan shall have access to the Personal Data as
is necessary to fulfill their duties related to the implementation and administration of the Plan. By accepting this Award, the
Participant consents, to the fullest extent permitted by law, to the collection, use, transfer and disclosure, electronically or
otherwise, of the Participant’s Personal Data by or to such entities for such purposes and the Participant accepts that this
may involve the transfer of Personal Data to a country which may not have the same level of data protection law as the country
in which this Agreement is executed. The Participant confirms that if the Participant has provided or, in the future, will provide
Personal Data concerning third parties including beneficiaries, the Participant has the consent of such third party to provide
their Personal Data to the Company for the same purposes. The Participant further understands that the Participant may, at any
time, request to review the Personal Data and require any necessary amendments to it by contacting the Company in writing. As well,
the Participant may always elect to forgo participation in the Plan or any other award program.

 

 

7

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