Document:

EX-10.5

 Exhibit 10.5 

Life360 Compensation Plan 

for Board Directors and 

Company Leadership 

January 2020 
 Contents

  

			
	Compensation Philosophy	  	1
	2019 Annual Leadership Retention and Performance Stock Bonus Plan	  	4
	General Bonus Plan Structure	  	5
	Chris Hulls - CEO	  	6
	David Rice - COO	  	8
	Samir Kapoor - CTO	  	10
	Monica Walls - VP People & Talent	  	11
	Ariana Hellebuyck - VP Marketing	  	13
	Steven Yarger - VP Service & Support	  	15
	Jon Troutman - VP of Design	  	17

 Compensation Philosophy 

At Life360 our goal is to have a top performer in every role, and we compensate accordingly. We would much rather pay towards the top of the market for an
outlier versus below market for someone average. 

  
 1 

 The following points outline our overall view on how we put this into practice: 

 

	 	•	 	 “A” players will be paid in the top 50th percentile of market, “B” players get a generous
severance package. Keeping a high excellence bar is of extreme importance for the company, and in general we prefer to hire and retain people for unique strengths versus broader lack of weaknesses. 

 

	 	•	 	 For all positions, both individual contributor and executive, we benchmark ourselves to late-stage private growth
companies. Individual contributor and manager level compensation is benchmarked using the assistance of 3rd party consultant and the OptionDriver dataset. Executive compensation relies on a wider range of data to determine market rates. If we use a
retained search firm to make a hire, we use the information gathered in the search our primary guide for compensation. For hires who have been longer-tenured at the company, there is no single benchmark, and we use our network and market surveys to
determine an appropriate range. 

  

	 	•	 	 We also use the 2019 Venture Capital Executive Compensation Survey as an extra check and balance to confirm our
benchmarks are in-line with the market. While this is not the primary determinant in compensation, if there is a wide disparity between what we pay an executive and the data contained in the survey, we treat
it as a signal to dig more. 

  

	 	•	 	 Because we set compensation based on market rates, we do not have a policy of automatic annual raises. If the
market is flat, comp could be flat, but it could also increase dramatically in line with the broader changes in industry. 

  

	 	•	 	 We review compensation twice per year and will proactively adjust compensation to encourage a culture where
performance is more important than negotiation skills. Market adjustments can happen at both review cycles, while performance based adjustments are done annually. A good measure of our success here is how we handle team members who get higher offers
elsewhere—if we are true to this philosophy, we should rarely give large counter offers to encourage someone to stay. 

  

	 	•	 	 We are supportive of employees putting more skin in the game by taking extra equity over cash, and our aim is to
offer a higher expected value return for employees who take more risk. We also understand that different individuals have different needs, circumstances and risk profiles, so we present this as completely optional. 

 

	 	•	 	 As our company matures and compensation packages rise we seek to put more of total compensation “at
risk” based on individual and company performance. The more senior one is in the company, the higher percent of total compensation is based on company and individual performance. 

  
 2 

	 	•	 	 We re-evaluate leadership compensation twice per year, once in February
and once in July. July adjustments are generally made to bring team members to current market rates, whereas February adjustments are both performance and market driven. 

  
 3 

 2019 Annual Leadership Retention and Performance Stock Bonus Plan 

This is a program from 2019—there has not been a discussion about its continuance going forward, and is in this 2020 document for reference purposes
only. 
 In addition to the executive-specific compensation schemes listed below, the company also is establishing a pool of shares to be issued to
members of the company’s leadership team. The participants of this pool, and the allocation of the shares within, will be determined by the Compensation Committee in direct consultation for the CEO. The goal of the pool is to both reward the
leadership for high performance while encouraging long-term retention. 
 For 2019, the pool will be 1.75%. The maximum allocation to Chris Hulls (in
addition to individual grants) will be .5% and the maximum allocation to Alex Haro (in addition to individual grants) will be .25%. The shares will be awarded based on CY19 performance at year end and issued in February 2020 as part of the
company’s Annual Meeting. The shares will vest monthly over a 2 year period starting in February 2020, so vesting will end in February 2022. Vesting will accelerate upon acquisition of the company if the leaders job or compensation would
materially change, but not in the event of termination in other circumstances. 
 A new pool will be created on an annual basis, the size of which will be
determined by the Board of Directors. If there are not enough shares available in the option pool to fund the plan, the decision whether or not to continue the plan will be up to the shareholders. 

For 2019, the amount of the pool to be paid out will be based 50% on share price performance (relative to the NASDAQ index) and 50% based on reaching revenue
targets. The philosophy behind the relative vs absolute target is based on wanting to ensure that if the executive team performs but the market slumps, they are still rewarded. Similarly, we do not want to reward executives if the company share
price rises due to the macro environment vs company execution. 
 For 2019, the Annualized Monthly Revenue (AMR) target is $71.5 million, which is
based upon our run rate as of December 2019. If the target is achieved, 34% of the pool will become payable. If the target is exceeded by 10%, an additional 33% will become payable. If the target is exceeded by 20%, the final 33% will become
payable. 
 For the share performance payout, 34% of the pool will become payable if the share price matches the performance of the NASDAQ index. An
additional 33% will become payable if the share price beats the index by 15%, and the remaining 33% will become payable if the share price beats the index by 30%. Although this will be a 2019 pool, the date at which the share price target will be
measured will be the close of one full day of trading post the company’s annual report which will be released in February. 

  
 4 

 General Bonus Plan Structure 

The following pages outline bonus plans for all executive VP and higher. The general format consists of a target bonus payout and a range of bonus payouts
(from 0% to 200% of target) depending on performance. The size of these payouts vary by executive based on how far his/her base salary is from market-based total cash comp for their role. For example, if the executive has a salary close to market
rate, their plan will be small, whereas if their salary is undermarket, the target bonus will be higher. In general, future raises will be skewed towards bonuses instead of base salary. Over time, the ratio of base salary to bonus will converge for
all leaders of similar seniority. 
 50% of the target payout is determined based on measurable performance on KPI’s. These KPI’s will include
both personal and company targets. While KPI’s are quantitative, they will be viewed holistically and subjectively by the CEO with oversight from the Board of Directors. If a goal is missed for a good reason (e.g. lower subscriber count but
higher revenue) the executive could receive full credit for that KPI. Similarly, if the goal is hit but for whatever reason does not reflect the long-term intent of the KPI full credit may not be given (e.g. low quality international users as the
reason MAU target is achieved). 
 The other 50% of the target payout is based on a range of qualitative measures which are articulated for each executive.
The qualitative measures may include individual behaviors or activities that the CEO wishes to encourage or discourage, directional changes in the company’s culture or practices, or other such activities or results. The qualitative bonus will
also be determined based on a holistic and subjective assessment of performance on these measures. 
 Prior to Life360’s IPO, employees could elect to
receive all or part of their bonus in equity. This has now ended and all bonuses will be paid in cash to avoid accounting and regulatory complexity. 

Bonus payouts may be suspended or eliminated if the Board of Directors determines that the company’s financial condition would be materially harmed by
the bonus payouts. The Remuneration Committee will assess performance under the plan and recommend a plan payout level to the full Board. Individual payout level will vary with individual performance. Bonus payments will be made bi-annually as part of the company’s regularly scheduled performance reviews. 

  
 5 

 Chris Hulls - CEO 

Market Data: 
 Filters: 1) Title 2) Location 3)
Industry - consumer & enterprise 4) Development stage - shipping product 5) Funding rounds - post series c, post series d, 5+ rounds of funding 6) Capital raised - >50 million up to 250 million 7) Revenue - >50 million
up to 200 million 8) Headcount - 51 - >200 
  

																					
	Count	  	Percentile*	 	 	Base Salary	 	  	Target Bonus or
Commission	 	  	Total
Target Pay	 	  	% Fully
Diluted Shares	 
		  	 	25	% 	 	$	325,000	 	  	$	113,438	 	  	$	420,000	 	  	 	2.90	% 
	 17
	  	 	50	% 	 	$	350,000	 	  	$	164,430	 	  	$	500,000	 	  	 	3.79	% 
		  	 	75	% 	 	$	375,000	 	  	$	200,000	 	  	$	550,500	 	  	 	4.30	% 

 Current Compensation 

Base Salary: $360,000 
 Bonus: $100,000 

Target annual payout: $100k 
 Payout range: $0-200k 
 Equity Summary 
  

																					
	Option Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Number	 	 	Number Vested	 	  	Grant Date	 	 	Strike Price	 	  	Exercise Cost	 
	 ES-0436
	  	 	208,987	 	 	 	121,909	 	  	 	10/24/17	 	 	$	2.15	 	  	$	449,322	 
	 ES -552
	  	 	10	 	 	 	10	 	  	 	10/30/2018	 	 	$	9.55	 	  	$	96	 
	 ES-0482
	  	 	1,269,386	 	 	 	476,019	 	  	 	7/16/2018	 	 	$	2.53	 	  	$	3,211,547	 
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 
	 Total
	  	 	1,478,383	 	 	 	597,938	 	  	 	Weighted Average	 	 	$	2.48	 	  	$	3,660,964	 
		  	  
	  
	 	 	  
	  
	 	  				 	  
	  
	 	  	  
	  
	 
		  				 				  	 	Spread (ITM)	 	 	$	4.25	 	  			
						
	Issued Shares/RSU Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Number	 	 	Number Vested	 	  	Grant Date	 	 	 	 	  	 	 
	 Issued Shares
	  	 	2,886,552	 	 	 	2,886,552	 	  				 				  			
	 ICCA Labs
	  	 	29,960	 	 	 	29,960	 	  				 				  			
		  	  
	  
	 	 	  
	  
	 	  				 				  			
	 Total
	  	 	2,916,512	 	 	 	2,916,512	 	  				 				  			
		  	  
	  
	 	 	  
	  
	 	  				 				  			
						
	Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Count	 	 	Exercised Cash Value	 	  	Ownership	 	 	 	 	  	 	 
	 Total Options
	  	 	1,478,383	 	 	$	6,284,858	 	  	 	2.54	% 	 				  			
	 Total RSUs
	  	 	2,916,512	 	 	$	19,620,834	 	  	 	5.01	% 	 				  			
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 				  			
	 Total
	  	 	4,394,895	 	 	$	25,905,692	 	  	 	7.55	% 	 	  
	  
	  
	  	  
	  
	  

		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 				  			
	 Percent Vested
	  	 	79.97	% 	 	  
	  
	  
	  	  
	  
	  
	 	  
	  
	  
	  	  
	  
	  

  
 6 

 Compensation Commentary and Status Relative to Market 

Proposed Comp Plan Changes 
 Quantitative (goals for
entire vs half year) 
 Qualitative 

  
 7 

 David Rice - COO 

Market Data: 
 Filters: 1) Title 2) Location 3)
Industry - consumer & enterprise 4) Development stage - shipping product 5) Funding rounds - post series c, post series d, 5+ rounds of funding 6) Capital raised - >50 million up to 250 million 7) Revenue - >50 million
up to 200 million 8) Headcount - 51 - >200 
  

																					
	Count	  	Percentile*	 	 	Base Salary	 	  	Target Bonus or
Commission	 	  	Total
Target Pay	 	  	 % Fully

Diluted Shares
	 
		  	 	25	% 	 	$	243,750	 	  	$	0	 	  	$	262,500	 	  	 	0.92	% 
	 8
	  	 	50	% 	 	$	275,000	 	  	$	50,000	 	  	$	312,500	 	  	 	1.41	% 
		  	 	75	% 	 	$	306,250	 	  	$	142,500	 	  	$	459,375	 	  	 	1.67	% 

 Current Compensation 

Base Salary: $350,000 
 Bonus: $100,00 

Target annual payout: $100,000 
 Payout range: 0-$200,000 
 Equity Summary 
  

																					
	Option Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Number	 	 	Number Vested	 	  	Grant Date	 	 	Strike Price	 	  	Exercise Cost	 
	 ES-0366
	  	 	100,000	 	 	 	83,333	 	  	 	9/20/16	 	 	$	2.15	 	  	$	215,000	 
	 ES-603
	  	 	10	 	 	 	10	 	  	 	10/30/18	 	 	$	9.55	 	  	$	96	 
	 ES-0428
	  	 	125,392	 	 	 	73,145	 	  	 	10/24/17	 	 	$	2.53	 	  	$	317,242	 
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 
	 Total
	  	 	225,402	 	 	 	156,488	 	  	 	Weighted Average	 	 	$	2.36	 	  	$	532,337	 
		  	  
	  
	 	 	  
	  
	 	  				 	  
	  
	 	  	  
	  
	 
		  				 				  	 	Spread (ITM)	 	 	$	4.37	 	  			
						
	Issued Shares/RSU Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Number	 	 	Number Vested	 	  	Grant Date	 	 	 	 	  	 	 
	 Issued Shares
	  	 	417,570	 	 	 	417,570	 	  				 				  			
		  	  
	  
	 	 	  
	  
	 	  				 				  			
	 Total
	  	 	417,570	 	 	 	417,570	 	  				 				  			
		  	  
	  
	 	 	  
	  
	 	  				 				  			
						
	Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Count	 	 	Exercised Cash Value	 	  	Ownership	 	 	 	 	  	 	 
	 Total Options
	  	 	225,402	 	 	$	984,055	 	  	 	0.39	% 	 				  			
	 Total RSUs
	  	 	417,570	 	 	$	2,809,202	 	  	 	0.72	% 	 				  			
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 				  			
	 Total
	  	 	642,972	 	 	$	3,793,257	 	  	 	1.10	% 	 				  			
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 				  			
	 Percent Vested
	  	 	89.28	% 	 				  				 				  			
		  				 				  				 				  			

  
 8 

 Compensation Commentary and Status Relative to Market 

David’s comp is above the 50th percentile and appropriate for his level of seniority and contribution at the company. Any raise this cycle will be modest.

 Proposed Comp Plan 
 Salary: 

Bonus: 
 Target annual payout: 

Payout range: 
 Cash proportion: 

Quantitative 
 Qualitative 

  
 9 

 Samir Kapoor - CTO 

Market Data: 
 Filters: 1) Title 2) Location 3)
Industry - consumer & enterprise 4) Development stage - shipping product 5) Funding rounds - post series c, post series d, 5+ rounds of funding 6) Capital raised - >50 million up to 250 million 7) Revenue - >50 million
up to 200 million 8) Headcount - 51 - >200 
  

																					
	Count	  	Percentile*	 	 	Base
Salary	 	  	Target
Bonus or
Commission	 	  	Total
Target Pay	 	  	% Fully
Diluted Shares	 
		  	 	25	% 	 	$	240,000	 	  	$	12,500	 	  	$	262,500	 	  	 	0.54	% 
	 11
	  	 	50	% 	 	$	250,000	 	  	$	50,000	 	  	$	300,000	 	  	 	1.25	% 
		  	 	75	% 	 	$	325,000	 	  	$	62,500	 	  	$	392,500	 	  	 	1.70	% 

 Current Compensation 

Base Salary: $300,000 
 Bonus: $50,00 

Equity Summary 
  

																					
	Option Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Number	 	 	Number Vested	 	  	Grant Date	 	 	Strike Price	 	  	Exercise Cost	 
	 ES-0752
	  	 	178,775	 	 	 	0	 	  	 	9/15/19	 	 	$	7.02	 	  	$	1,255,001	 
	 ES-0761
	  	 	71,225	 	 	 	0	 	  	 	10/7/19	 	 	$	7.07	 	  	$	503,561	 
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 
	 Total
	  	 	250,000	 	 	 	0	 	  	 	Weighted Average	 	 	$	7.03	 	  	$	1,758,561	 
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 
		  				 				  	 	Spread (ITM)	 	 	$	0.00	 	  			
						
	RSU Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Number	 	 	Number Vested	 	  	Grant Date	 	 	 	 	  	 	 
	 ES-0768
	  	 	40,000	 	 	 	0	 	  	 	10/7/19	 	 				  			
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 				  			
	 Total
	  	 	40,000	 	 	 	0	 	  				 				  			
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 				  			
						
	Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Count	 	 	Exercised Cash Value	 	  	Ownership	 	 	 	 	  	 	 
	 Total Options
	  	 	250,000	 	 	$	0	 	  	 	0.43	% 	 				  			
	 Total RSUs
	  	 	40,000	 	 	$	269,100	 	  	 	0.07	% 	 				  			
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 				  			
	 Total
	  	 	290,000	 	 	$	269,100	 	  	 	0.50	% 	 				  			
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 				  			
	 Percent Vested
	  	 	0.00	% 	 				  				 				  			

  
 10 

 Monica Walls - VP People & Talent 

Market Data: 
 Copyright 2019 Advanced-HR, Inc. All rights reserved. 
 Filters: 1) Title 2) Location 3) Industry - consumer &
enterprise 4) Development stage - shipping product 5) Funding rounds - post series c, post series d, 5+ rounds of funding 6) Capital raised - >50 million up to 250 million 7) Revenue - >50 million up to 200 million 8)
Headcount - 51 - >200 
  

																					
	Count	  	Percentile*	 	 	Base Salary	 	  	Target Bonus or
Commission	 	  	Total
Target Pay	 	  	% Fully
Diluted Shares	 
		  	 	25	% 	 	$	250,000	 	  	$	12,375	 	  	$	251,250	 	  	 	0.12	% 
	 6
	  	 	50	% 	 	$	250,000	 	  	$	62,250	 	  	$	290,000	 	  	 	0.28	% 
		  	 	75	% 	 	$	253,750	 	  	$	77,813	 	  	$	337,188	 	  	 	0.40	% 

 Current Compensation 

Base Salary: $210,000 
 Bonus: $40,000 

Payout Range: $0 - $80,000 
 Equity Summary 

 

																					
	Option Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Number	 	 	Number Vested	 	  	Grant Date	 	 	Strike Price	 	  	Exercise Cost	 
	 ES-0481
	  	 	45,000	 	 	 	17,812	 	  	 	1/20/2015	 	 	$	2.53	 	  	$	113,850	 
	 ES-633
	  	 	10	 	 	 	10	 	  	 	10/30/2018	 	 	$	9.55	 	  	$	96	 
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 
	 Total
	  	 	45,010	 	 	 	17,812	 	  	 	Weighted Average	 	 	$	2.53	 	  	$	113,946	 
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 
		  				 				  	 	Spread (ITM)	 	 	$	4.20	 	  			
						
	RSU Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Number	 	 	Number Vested	 	  	Grant Date	 	 	 	 	  	 	 
	 ES-0709
	  	 	40,000	 	 	 	9,166	 	  	 	7/23/2019	 	 				  			
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 				  			
	 Total
	  	 	40,000	 	 	 	9,166	 	  				 				  			
		  	  
	  
	 	 	  
	  
	 	  				 				  			
						
	Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Count	 	 	Exercised Cash Value	 	  	Ownership	 	 	 	 	  	 	 
	 Total Options
	  	 	45,010	 	 	$	188,859	 	  	 	0.08	% 	 				  			
	 Total RSUs
	  	 	40,000	 	 	$	269,100	 	  	 	0.07	% 	 				  			
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 				  			
	 Total
	  	 	85,010	 	 	$	457,959	 	  	 	0.15	% 	 				  			
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 				  			
		  	  
	  
	 	 	  
	  
	 	  				 				  			
	 Percent Vested
	  	 	31.74	% 	 				  				 				  			

  
 11 

 Compensation Commentary and Status Relative to Market 

Chris will have a conversation with Mark Goines about Monica’s comp to keep it arm’s length. 

Proposed Comp Plan 
 Quantitative (goals for entire vs
half year) 
 Qualitative 

  
 12 

 Ariana Hellebuyck - VP Marketing 

Market Data: 
 Copyright 2019 Advanced-HR, Inc. All rights reserved. 
 Filters: 1) Title 2) Location 3) Industry - consumer &
enterprise 4) Development stage - shipping product 5) Funding rounds - post series c, post series d, 5+ rounds of funding 6) Capital raised - >50 million up to 250 million 7) Revenue - >50 million up to 200 million 8)
Headcount - 51 - >200 
  

																					
	Count	  	Percentile*	 	 	Base Salary	 	  	Target Bonus or
Commission	 	  	Total
Target Pay	 	  	% Fully
Diluted Shares	 
		  	 	25	% 	 	$	200,000	 	  	$	37,202	 	  	$	217,868	 	  	 	0.07	% 
	 22
	  	 	50	%	 	$	231,000	 	  	$	43,500	 	  	$	267,500	 	  	 	0.09	% 
		  	 	75	% 	 	$	248,375	 	  	$	56,000	 	  	$	300,000	 	  	 	0.19	% 

 Current Compensation 

Base Salary: $240,000 
 Bonus: $40,000 

Equity Summary 
  

																					
	Option Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Number	 	 	Number Vested	 	  	Grant Date	 	 	Strike Price	 	  	Exercise Cost	 
	 ES-0445
	  	 	212,500	 	 	 	106,250	 	  	 	1/24/18	 	 	$	2.15	 	  	$	456,875	 
	 ES-541
	  	 	10	 	 	 	10	 	  	 	10/30/18	 	 	$	9.55	 	  	$	96	 
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 
	 Total
	  	 	212,510	 	 	 	106,260	 	  	 	Weighted Average	 	 	$	2.15	 	  	$	456,971	 
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 
		  				 				  	 	Spread (ITM)	 	 	$	4.58	 	  			
						
	RSU Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Number	 	 	Number Vested	 	  	Grant Date	 	 	 	 	  	 	 
	 Total
	  	 	0	 	 	 	0	 	  				 				  			
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 				  			
						
	Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Count	 	 	Exercised Cash Value	 	  	Ownership	 	 	 	 	  	 	 
	 Total Options
	  	 	212,510	 	 	$	972,691	 	  	 	0.37	% 	 				  			
	 Total RSUs
	  	 	0	 	 	$	0	 	  	 	0.00	% 	 				  			
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 				  			
	 Total
	  	 	212,510	 	 	$	972,691	 	  	 	0.37	% 	 				  			
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 				  			
	 Percent Vested
	  	 	50.00	% 	 				  				 				  			

  
 13 

 Compensation Commentary and Status Relative to Market 

Ariana’s compensation, both cash and equity, feels appropriately benchmarked given her relative seniority and size of the marketing function, which
remains small. Should she expand the scope of her role, a raise would likely be warranted, but not at this point in time. She was recently added to the bonus plan and received a raise in 2019 as well. 

Quantitative 
 Qualitative 

  
 14 

 Steven Yarger - VP Service & Support 

Market Data: 
 Filters: 1) Title 2) Location 3)
Industry - consumer & enterprise 4) Development stage - shipping product 5) Funding rounds - post series c, post series d, 5+ rounds of funding 6) Capital raised - >50 million up to 250 million 7) Revenue - >50 million
up to 200 million 8) Headcount - 51 - >200 
  

																					
	Count	  	Percentile*	 	 	Base Salary	 	  	Target Bonus or
Commission	 	  	Total
Target Pay	 	  	% Fully
Diluted Shares	 
		  	 	25	% 	 	$	215,000	 	  	$	27,563	 	  	$	261,313	 	  	 	0.13	% 
	 8
	  	 	50	% 	 	$	245,000	 	  	$	72,500	 	  	$	337,500	 	  	 	0.33	% 
		  	 	75	% 	 	$	260,875	 	  	$	122,500	 	  	$	370,875	 	  	 	0.46	% 

 Current Compensation 

Base Salary: $180,000 
 Bonus: $30,000 

Equity Summary 
  

																					
	Option Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Number	 	 	Number Vested	 	  	Grant Date	 	 	Strike Price	 	  	Exercise Cost	 
	 ES-0668
	  	 	100,000	 	 	 	0	 	  	 	3/14/19	 	 	$	6.28	 	  	$	628,000	 
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 
	 Total
	  	 	100,000	 	 	 	0	 	  	 	Weighted Average	 	 	$	6.28	 	  	$	628,000	 
		  	  
	  
	 	 	  
	  
	 	  				 	  
	  
	 	  	  
	  
	 
		  				 				  	 	Spread (ITM)	 	 	$	0.45	 	  			
						
	RSU Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Number	 	 	Number Vested	 	  	Grant Date	 	 	 	 	  	 	 
	 ES-0841
	  	 	10,000	 	 	 	0	 	  	 	10/7/19	 	 				  			
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 				  			
	 Total
	  	 	10,000	 	 	 	0	 	  				 				  			
		  	  
	  
	 	 	  
	  
	 	  				 				  			
						
	Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Count	 	 	Exercised Cash Value	 	  	Ownership	 	 	 	 	  	 	 
	 Total Options
	  	 	100,000	 	 	$	44,750	 	  	 	0.17	% 	 				  			
	 Total RSUs
	  	 	10,000	 	 	$	67,275	 	  	 	0.02	% 	 				  			
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 				  			
	 Total
	  	 	110,000	 	 	$	112,025	 	  	 	0.19	% 	 				  			
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 				  			
	 Percent Vested
	  	 	0.00	% 	 				  				 				  			

  
 15 

 Compensation Commentary and Status Relative to Market 

Steven has relatively low cash comp but self-selected to receive this package in exchange for higher equity. He is arguably under-market, but he is early in
his tenure and his impact has not yet significantly been felt, so changes to compensation will be modest this review cycle. 
 Quantitative 

Qualitative 

  
 16 

 Jon Troutman - VP of Design 

Market Data: 
 Filters: 1) Title 2) Location 3)
Industry - consumer & enterprise 4) Development stage - shipping product 5) Funding rounds - post series c, post series d, 5+ rounds of funding 6) Capital raised - >50 million up to 250 million 7) Revenue - >50 million
up to 200 million 8) Headcount - 51 - >200 
  

																					
	Count	  	Percentile*	 	 	Base Salary	 	  	Target Bonus or
Commission	 	  	Total
Target Pay	 	  	% Fully
Diluted Shares	 
		  	 	25	% 	 	$	238,750	 	  	$	0	 	  	$	251,250	 	  	 	0.16	% 
	 10
	  	 	50	% 	 	$	263,112	 	  	$	0	 	  	$	283,712	 	  	 	0.20	% 
		  	 	75	% 	 	$	298,588	 	  	$	42,500	 	  	$	317,100	 	  	 	0.37	% 

 Current Compensation 

Base Salary: $250,000 
 Bonus: $200,000 (incentive not
performance) to be paid September 2020 
 Equity Summary 
  

																					
	Option Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Number	 	 	Number Vested	 	  	Grant Date	 	 	Strike Price	 	  	Exercise Cost	 
	 ES-0628 - cancelled 01/06
	  	 	0	 	 	 	0	 	  	 	10/30/18	 	 	$	9.55	 	  	$	0	 
	 ES-0696
	  	 	151,117	 	 	 	50,372	 	  	 	7/25/19	 	 	$	7.43	 	  	$	1,122,799	 
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 
	 Total
	  	 	151,117	 	 	 	50,372	 	  	 	Weighted Average	 	 	$	7.43	 	  	$	1,122,799	 
		  	  
	  
	 	 	  
	  
	 	  				 	  
	  
	 	  	  
	  
	 
		  				 				  	 	Spread (ITM)	 	 	$	0.00	 	  			
						
	RSU Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Number	 	 	Number Vested	 	  	Grant Date	 	 	 	 	  	 	 
	 Total
	  	 	0	 	 	 	0	 	  				 				  			
		  	  
	  
	 	 	  
	  
	 	  				 				  			
						
	Summary	  	 	 	 	 	 	  	 	 	 	 	 	  	 	 
	 	  	Count	 	 	Exercised Cash Value	 	  	Ownership	 	 	 	 	  	 	 
	 Total Options
	  	 	151,117	 	 	$	0	 	  	 	0.26	% 	 				  			
	 Total RSUs
	  	 	0	 	 	$	0	 	  	 	0.00	% 	 				  			
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 				  			
	 Total
	  	 	151,117	 	 	$	0	 	  	 	0.26	% 	 				  			
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 				  			
	 Percent Vested
	  	 	33.33	% 	 				  				 				  			

  
 17 

 Compensation Commentary and Status Relative to Market 

John is significantly above market due to his guaranteed bonus that was part of his signing package. Once this bonus is paid at the end of 2020, his comp will re-leveled for future years. 
 Quantitative 

Qualitative 

  
 18EX-10.6

 Exhibit 10.6 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (the “Agreement”) is entered into ______________, 2019 and made effective as of
______________, 2019 (the “Effective Date”), by and between Life360, Inc., a corporation organized under the laws of the State of Delaware (the “Company”), and Christopher Hulls (“Executive”) (the
Company and Executive are sometimes collectively referred to herein as the “Parties” and individually as a “Party”), all with reference to the following: 

WHEREAS, the Executive is currently employed by the Company as its Chief Executive Officer; 

WHEREAS, the Company and Executive believe that it is in the best interest of each to define the terms and conditions of
Executive’s employment with the Company; and 
 WHEREAS, the Company desires to continue to obtain the services of Executive,
and Executive desires to provide services to the Company, in accordance with the terms, conditions and provisions contained in this Agreement. 

NOW THEREFORE, in consideration of the covenants and mutual agreements set forth herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, and in reliance upon the representations, covenants and mutual agreements contained herein, the Company and Executive agree to adopt his Agreement, as follows: 

1. Defined Terms. Capitalized terms not otherwise defined shall have the meanings set forth in Exhibit A. 

2. Term. This is an “At Will” employment agreement. Nothing in the Company’s policies, actions, or this document shall
be construed to alter the “At Will” nature of Executive’s status with Company, and Executive understands that Employer may terminate his/her employment at any time for any reason or for no reason, provided it is not terminated in
violation of state or federal law. Similarly, the Executive may terminate his/her employment at any time and for any or for no reason. The Agreement’s Term begins on the Effective Date and ends on either (i) the date Executive voluntarily
terminates his/her employment or (ii) the date the Company terminates the Executive’s employment. 
 3. Position and
Duties. 
 (a) Position. During the Term, Executive shall serve as the Company’s Chief Executive Officer. Executive shall
report directly to the Company’s Board of Directors (the “Board”). In such capacity, Executive shall have the duties, functions, responsibilities, and authority customarily appertaining to that position and shall have such other
duties, functions, responsibilities, and authority consistent with such position as are from time to time delegated to him by the Board. 

  
 Page 1 of 10 

 (b) Duties. Executive shall have supervision, control over, and responsibility for
the day-to-day business and affairs of the Company and shall have such other powers and duties as may from time to time be prescribed by the Board, provided that such
supervision, control over, responsibilities and duties are consistent with Executive’s position or other positions that he may hold from time to time. Executive shall devote substantially all of his business time and attention to the
performance of Executive’s duties hereunder and to the Company’s affairs and shall not engage in any other business, profession or occupation for compensation or otherwise that would conflict or interfere with the rendition of such
services, either directly or indirectly; provided, that nothing herein shall preclude Executive from (i) serving on the board of directors of two (2) for-profit companies that do not compete
with the Company in the judgment of the Board; (ii) serving on civic or charitable boards or committees; and/or (iii) managing personal investments, so long as all such activities described in clauses (i) through (iii) above do not
unreasonably interfere with the Executive’s performance of his duties to the Company as provided in this Agreement and, in the case of the activities described in clauses (i) and (ii), are disclosed to the Board. 

(c) Principal Place of Employment. Executive’s initial principal place of employment during the Term shall be 539 Bryant, Suite
402, San Francisco, CA 94107, or as shall be designated by the Board, subject to the terms and conditions of this Agreement. The Parties acknowledge that Executive may be required to travel in connection with the performance of his duties hereunder.

 (d) Corporate Policies. During the Term, Executive shall be subject to all of the Company’s corporate governance, ethics, and
executive compensation and other policies as in effect from time to time. 
 (e) Compensation, Benefits, Other Items Applicable to
Executive. During the Term, Executive shall be entitled to the compensation and benefits described in Sections 4 and 5 of this Agreement, in addition to any other compensation agreed to between Executive and the Company. 

4. Compensation. 
 (a)
Base Salary. During the Term, Executive shall receive an annual base salary (the “Base Salary”) of three hundred thousand dollars ($300,000), payable in regular installments in accordance with the Company’s usual payroll
practices. Executive’s Base Salary is subject to annual review and may, in the Board’s discretion, be increased or decreased. As so adjusted, the term “Base Salary” shall refer to the adjusted amount. 

5. Employee and Fringe Benefits; Expense Reimbursements. 

(a) Employee Benefits. During the Term, Executive and his eligible dependents (if any) shall be able to participate in employee benefit
plans and perquisite and fringe benefit programs on a basis no less favorable than the basis on which such benefits and perquisites are provided by the Company from time to time to other similarly situated senior executive employees, subject in each
case to the terms and conditions of the plan or program in question, including any eligibility requirements set forth therein, and the determination of any person or committee administering the plan or program. Notwithstanding the foregoing or any
other statement to the contrary, the Company reserves the right to modify or terminate benefits from time to time as it deems necessary or appropriate. 

  
 Page 2 of 10 

 (b) Paid Time Off. Executive shall be entitled to paid vacation each year in
accordance with the Company’s then-current vacation policy for other similarly situated senior executive employees. The rules relating to other absences from regular duties for holidays, sick or disability leave, leave of absence without pay,
or for other reasons, shall be the same as those provided to the Company’s other similarly situated senior executive employees. 
 (c)
Expense Reimbursement. Executive shall be entitled to receive prompt reimbursement for all travel and business expenses reasonably incurred and accounted for by Executive (in accordance with the policies and procedures established from time
to time by the Company for Executive or as otherwise provided for in the Company’s approved travel budget) in performing services hereunder. Any reimbursement that Executive is entitled to receive shall (i) be paid as soon as practicable
and in any event no later than the last day of Executive’s tax year following the tax year in which the expense was incurred, (ii) not be affected by any other expenses that are eligible for reimbursement in any tax year and (ii) not
be subject to liquidation or exchange for another benefit. 
 6. Termination of Employment. Except for the provisions intended to
survive for other periods of time as specified in Section 15(m) below, this Agreement and Executive’s employment shall terminate (i) at any time upon mutual written agreement of the Parties; (ii) by the Company, immediately and
without prior notice, for Cause as provided in Section 6(a); (iii) immediately upon Executive’s death or Disability as provided in Section 6(b); or (iv) by the Company for any reason other than Cause with advance written notice
of at least six (6) months’ of any such termination; or (v) by Executive for any reason other than due to Executive’s death or Disability with advance written notice as provided in Section 6(a). The date on which
Executive’s employment ends under this Section 6 shall be referred to herein as his “Termination Date.” 
 (a)
Termination for Cause; Voluntary Termination. At any time during the Term, (i) the Company may immediately terminate Executive’s employment for Cause, and (ii) Executive may terminate his employment “voluntarily”
(that is, other than by death or Disability); provided, that Executive will be required to give the Board at least six (6) months’ advance written notice of any such termination; provided, however, that the Board may waive all or any part
of the foregoing notice requirement in its sole discretion, in which case Executive’s voluntary termination will be effective upon the date specified by the Board. Upon the termination of Executive’s employment by the Company for Cause or
by Executive’s voluntary termination, Executive shall receive the Accrued Obligations. All other benefits, if any, due to Executive following Executive’s termination of employment pursuant to this Section 6(a) shall be determined in
accordance with the plans, policies and practices of the Company as then in effect, including but not necessarily limited to the Executive Incentive Plan. Executive shall not earn or accrue any additional compensation or other benefits under this
Agreement following the Termination Date. Notwithstanding anything in this Section 6 to the contrary, in the event Executive is terminated for Cause, the Company will provide notice to the Executive outlining the reason(s) underlying the
termination within one business day of such termination; for the avoidance of doubt, the foregoing notice provision is not a condition precedent to a termination for Cause. 

  
 Page 3 of 10 

 (b) Termination Due to Death or Disability. 

(i) Death. Executive’s employment with the Company shall terminate upon Executive’s death. Upon the
termination of the Term and Executive’s employment as a result of this Section 6(b)(i), Executive’s estate shall receive the Accrued Obligations within fifteen (15) days following the Termination Date. All payments or benefits,
if any, due to Executive’s estate following Executive’s termination due to death shall be determined in accordance with the plans, policies and practices of the Company as then in effect. Executive’s estate shall not earn or accrue
any additional compensation or other benefits under this Agreement following the Termination Date. 
 (ii)
Disability. The Company may terminate Executive’s employment if he becomes unable to perform the essential functions of his position as a result of his Disability. Upon any termination of the Term and Executive’s employment pursuant
to this Section 6(b)(ii), Executive shall receive the Accrued Obligations. All other benefits, if any, due to Executive following Executive’s termination of employment pursuant to this Section 6(b)(ii) shall be determined in
accordance with the plans, policies and practices of the Company as then in effect. Executive shall not earn or accrue any additional or other benefits under this Agreement following the Termination Date. 

(c) Notice of Termination. Any purported termination of Executive’s employment by the Company or by Executive shall be
communicated by written notice of termination to the other party in accordance with this Section 6. Such notice shall indicate the specific termination provision in this Agreement relied upon and shall, to the extent applicable, set forth in
reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive’s employment under the provision so indicated. 

7. Reserved. 
 8.
Non-Disclosure of Intellectual Property, Trade Secrets, and Confidential Information. Executive acknowledges and agrees that the Confidential Information and Invention Assignment Agreement
entered into by Executive and dated _______________, 2019 (the “Confidentiality Agreement”) shall remain in full force and effect. 

9. Non-Disparagement. 

(a) To the maximum extent permitted by applicable law, Executive agrees that he will not make or cause to be made any oral or written
statements that are derogatory, defamatory, or disparaging concerning the Company, its policies or programs, or its past or present officers, directors, employees, agents, or business associates, including but not limited to its past or present
suppliers or vendors, or take any actions that are harmful to the business affairs of the Company or its employees. This provision is a material and substantial term of this Agreement. 

  
 Page 4 of 10 

 (b) Company agrees that it will not publish any official statement of the Company that is
derogatory, defamatory, or disparaging concerning Executive, and will instruct the members of the Board and the Company’s executives to refrain from making any derogatory, defamatory, or disparaging public statements concerning Executive. 

10. Severability. If any provision, subsection, or sentence of this Agreement shall be held to be invalid, illegal or unenforceable in
any respect by a court of competent jurisdiction, such invalidity, illegality or unenforceability shall not affect the other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision,
subsection, or sentence had not been contained herein. 
 11. Compliance With Confidentiality and
Non-Disclosure Obligations. Executive represents and warrants that he is in compliance with the Confidentiality Agreement as of the Effective Date. 

12. Specific Performance. Executive acknowledges and agrees that the Company’s remedies at law for a breach or threatened breach
of Section 9(a) (the “Covenant”) would be inadequate and the Company would suffer irreparable damages as a result of such breach or threatened breach. In recognition of this fact, Executive agrees that, in the event of a breach of the
Covenant, in addition to any remedies at law, the Company, without posting any bond, to the maximum extent permitted by applicable law, shall be entitled to cease making any payments or providing any benefit otherwise required by this Agreement and,
in the case of either a breach or a threatened breach of the Covenant seek equitable relief before a court of competent jurisdiction, in the form of specific performance, temporary restraining order, temporary or permanent injunction or any other
equitable remedy that may then be available. Company acknowledges and agrees that the Executive’s remedies at law for a breach or threatened breach of Section 9(b) would be inadequate and Executive would suffer irreparable damages as a
result of such breach or threatened breach. Accordingly, Company agrees that Executive shall be entitled to, in addition to any legal remedies available, seek equitable relief before a court of competent jurisdiction, in the form of specific
performance, temporary restraining order, temporary or permanent injunction or any other equitable remedy that may then be available without posting bond or proving actual damages. 

13. Conflicts of Interest. Executive agrees that for the duration of this Agreement and Executive’s employment with the Company,
he will not engage, either directly or indirectly, in any activity (a “Conflict of Interest”) which might adversely affect Company or its affiliates, including ownership of a material interest in any supplier, contractor, distributor,
subcontractor, customer or other entity with which Company does business or accepting any payment, service, loan, gift, trip, entertainment, or other favor from a supplier, contractor, distributor, subcontractor, customer or other entity with which
Company does business, and that Executive will promptly inform the Chair of the Board as to each offer received by Executive to engage in any such activity. Executive further agrees to disclose to Chair of the Board any other facts of which
Executive becomes aware which might involve or give rise to a Conflict of Interest or potential Conflict of Interest. 

  
 Page 5 of 10 

 14. Reserved. 

15. Miscellaneous. 
 (a)
Executive’s Representations. Executive hereby represents and warrants to the Company that (i) Executive has read this Agreement in its entirety, fully understands the terms of this Agreement, has had the opportunity to consult with
counsel prior to executing this Agreement and is signing the Agreement voluntarily and with full knowledge of its significance; (ii) the execution, delivery and performance of this Agreement by Executive does not and shall not conflict with,
breach, violate or cause a default under any contract, agreement, instrument, order, judgment or decree to which Executive is a party or by which he is bound; (iii) Executive is not a party to or bound by an employment agreement, non-compete agreement or confidentiality agreement with any other person or entity that would interfere with the performance of his duties hereunder; and (iv) Executive shall not use any confidential
information or trade secrets of any person or party other than the Company in connection with the performance of his duties hereunder, except with valid written consent of such other person or party. Executive has carefully read and considered
all provisions of these Agreements and acknowledges that this is an important legal document that sets forth restrictions on Executive’s conduct as a condition of employment with the Company. 

(b) Waiver. No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is
agreed to in a writing signed by Executive and an officer of the Company (other than Executive) duly authorized by the Board to execute such amendment, waiver or discharge. No waiver by either Party of any breach of the other Party of, or compliance
with, any condition or provision of this Agreement shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 

(c) Successors and Assigns. 

(i) This Agreement is personal to Executive and shall not be assignable by Executive but shall inure to the benefit of and be enforceable by
Executive’s heirs and legal representatives. 
 (ii) This Agreement shall inure to the benefit of and be binding upon the Company and
its successors and, other than as set forth in Section 15(d)(iii) below, shall not be assignable by the Company without the prior written consent of Executive (which shall not be unreasonably withheld). 

(iii) The Agreement shall be assignable by the Company to any successor (whether direct or indirect, by purchase, merger, consolidation or
otherwise) to all or substantially all of the business and/or assets of the Company; provided, that the Company shall require such successor to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the
Company would be required to perform it if no such succession had taken place. As used in this Agreement, “Company” shall mean the Company as defined in this Agreement and any successor to its business and/or assets which assumes and
agrees to perform this Agreement by operation of law or otherwise. 

  
 Page 6 of 10 

 (d) Notice. For the purpose of this Agreement, notices and all other communications
provided for in this Agreement shall be in writing and shall be deemed to have been duly given if delivered personally, if delivered by overnight courier service, or if mailed by registered mail, return receipt requested, postage prepaid, addressed
to the respective addresses or sent via email to the respective email addresses, as the case may be, as set forth below, or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notice
of change of address shall be effective only upon receipt; provided, however, that (i) notices sent by personal delivery or overnight courier shall be deemed given when delivered; (ii) notices sent by email shall be deemed given at the
time such email is sent; and (iii) notices sent by registered mail shall be deemed given two (2) days after the date of deposit in the mail. 

If to Executive, to such address as shall most currently appear on the records of the Company. 

If to the Company, to: 

Life360, Inc. 
 539 Bryant,
Suite 400 
 San Francisco, California 94107 

Attention: Chairman of the Board 

(e) GOVERNING LAW; CONSENT TO JURISDICTION; JURY TRIAL WAIVER. THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF CALIFORNIA, WITHOUT GIVING EFFECT TO ANY CHOICE OF LAW OR CONFLICTING PROVISION OR RULE (WHETHER OF THE STATE OF DELAWARE OR ANY OTHER JURISDICTION) THAT WOULD CAUSE THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF
CALIFORNIA TO BE APPLIED. IN FURTHERANCE OF THE FOREGOING, THE LAW OF THE STATE OF CALIFORNIA (EXCEPT TO THE EXTENT SUPERSEDED BY THE LAWS OF THE UNITED STATES) WILL CONTROL THE INTERPRETATION AND CONSTRUCTION OF THIS AGREEMENT. ANY ACTION TO
ENFORCE THIS AGREEMENT MUST BE BROUGHT IN, AND THE PARTIES HEREBY CONSENT TO JURISDICTION IN SAN FRANCISCO COUNTY, CALIFORNIA. EACH PARTY HEREBY WAIVES THE RIGHTS TO CLAIM THAT ANY SUCH COURT PROCEEDING IS AN INCONVENIENT FORUM FOR THE RESOLUTION OF
ANY SUCH ACTION. EACH PARTY TO THIS AGREEMENT WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM. 
 (f)
Compliance with Section 409A. The intent of the Parties is that payments and benefits under this Agreement comply with, or be exempt from, Section 409A and, accordingly, to the maximum extent permitted, this Agreement
shall be interpreted in accordance therewith. In no event whatsoever shall the Company be liable for interest and additional tax that may be imposed on Executive by Section 409A or any damages for failing to comply with Section 409A. 

  
 Page 7 of 10 

 (g) Severability of Invalid or Unenforceable Provisions. The invalidity or
unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. 

(h) Advice of Counsel and Construction. Each Party acknowledges that such Party had the opportunity to be represented by counsel in the
negotiation and execution of this Agreement. Accordingly, the rule of construction of contract language against the drafting party is hereby waived by each Party. 

(i) Entire Agreement. This Agreement, all Exhibits attached hereto, and the Confidentiality Agreement, constitute the entire agreement
between the Parties as of the Effective Date and supersedes all previous agreements and understandings between the Parties with respect to the subject matter hereof. 

(j) Withholding Taxes. The Company shall be entitled to withhold from any payment due to Executive hereunder any amounts required to be
withheld by applicable laws or regulations. 
 (k) Section Headings. The headings of the Sections hereof are provided for convenience
only and are not to serve as a basis for interpretation or construction, and shall not constitute a part, of this Agreement. 
 (l)
Cooperation. During the Term and at any time thereafter, Executive agrees to cooperate, at Company’s expense, (i) with the Company in the defense of any legal matter involving any matter that arose during Executive’s employment
with the Company; and (ii) with all government authorities on matters pertaining to any investigation, litigation or administrative proceeding pertaining to the Company. The Company will reimburse Executive for any reasonable travel and out of
pocket expenses incurred by Executive in providing such cooperation. 
 (m) Survival. Sections 6 through 12, inclusive, and Sections
15(b)-(o), inclusive, shall survive and continue in full force in accordance with their terms notwithstanding any termination of the Term or of Executive’s employment with the Company. 

(n) Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all
of which together will constitute one and the same instrument. 
 (o) Recoupment/Clawback. Notwithstanding any other provisions in
this Agreement to the contrary, any incentive-based compensation, or any other compensation, paid to Executive pursuant to this Agreement or any other agreement or arrangement with the Company or any of its affiliates, which may be subject to
recovery under any law, government regulation, company policy or stock exchange listing requirement, will be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation, company policy or stock
exchange listing requirement to the extent reasonably required by any such law, government regulation, company policy or stock exchange listing requirement, as determined by the Board in its sole and absolute discretion. For purposes of this

  
 Page 8 of 10 

 
Section 15(o), a “company policy” means any written company policy adopted by the Company that is made available to the Company’s executive officers through electronic or any
other means. 
 [Remainder of page intentionally left blank – signatures appear on the following page] 

  
 Page 9 of 10 

 The Parties have executed this Agreement as of the date first above written. 

 

			
	COMPANY
	
	Life360, Inc.
		
	By:	 	 /s/ John Coghlan

	Name:	 	John Coghlan
	Title:	 	Chairman of the Board of Directors
	
	EXECUTIVE
	
	 /s/ Christopher Hulls

	Christopher Hulls

  
 Page 10 of 10 

 EXHIBIT A 

DEFINED TERMS 
 1.
“Accrued Obligations” shall mean, at any point in time and except as expressly provided herein, any amounts to which the Executive is entitled to payment but have not yet been paid to Executive including, but not limited to, each of
the following (but only to the extent such amounts are vested, earned or accrued, and due and payable at the time of payment): Base Salary and any other wages, payments, retention bonuses, entitlements or benefits vested, earned or accrued, and due
and payable, but unpaid under applicable benefit and compensation plans, programs and other arrangements with the Company. 
 2.
“Affiliate” of a Person shall mean any other Person that directly or indirectly controls, is controlled by, or is under common control with, such Person. 

3. “Board” shall mean the Company’s board of directors. 

4. “Cause” shall mean the occurrence of one or more of the following: (i) Executive’s malfeasance, willful, or
gross misconduct, or willful dishonesty that materially harms the Company or its stockholders; (ii) Executive’s conviction of a crime that is materially detrimental to the Company or its stockholders; (iii) Executive’s conviction
of, or entry of a plea nolo contendere to a crime that materially damages the Company’s financial condition or reputation or to a crime involving fraud; (iv) Executive’s material violation of the Company’s Code of Ethics,
including breach of duty of loyalty in connection with the Company’s business; (v) Executive’s willful failure to perform duties under this Agreement, after notice by the Board and an opportunity to cure; (vi) Executive’s
failure to reasonably cooperate with, or Executive’s impedance or interference with, an investigation authorized by the Board; (vii) Executive’s failure to follow a legal and proper Board directive, after notice by the Board and a 30
(thirty) day opportunity to cure; or (viii) Executive’s willful misconduct or gross negligence pursuant to the Sarbanes-Oxley Act, if and to the extent such conduct triggers a restatement of the Company’s financial results. 

5. “Code” shall mean the Internal Revenue Code of 1986, as amended. 

6. “Disability” means Executive has been unable to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months. Whether Executive is Disabled shall be determined by a qualified medical
provider selected by the Company. Alternatively, Executive will be deemed Disabled if determined to be totally disabled by the Social Security Administration. Termination of employment resulting from Disability may only be effected after at least
thirty (30) days’ written notice by the Company to Executive of Company’s intention to terminate Executive’s employment due to Disability. In the event that Executive resumes the performance of substantially all of his or her
duties hereunder before his or her termination becomes effective, the notice of intent to terminate based on Disability will automatically be deemed to have been revoked. In conjunction with determining Disability for purposes of this Agreement,
Executive hereby (i) consents to any such examinations, to be performed by a qualified medical provider selected by the Company and approved by the Executive (which approval shall not be 

  
 Exhibit A 

 
unreasonably withheld), which are relevant to a determination of whether Executive has incurred a Disability; and (ii) agrees to furnish to the qualified medical provider selected by the
Company such medical information as may be reasonably requested. 
 7. “Section 409A” shall mean Code
section 409A together with all regulation and regulatory guidance promulgated thereunder, as amended from time to time. 

  
 Exhibit A 

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