Document:

EX-10.21

 Exhibit 10.21 

Grocery Outlet Inc. 

Annual Incentive Plan 
 The Grocery Outlet
Inc. Annual Incentive Plan (the “Plan”) is established to reward and align the efforts of employees with the strategic priorities and activities of Grocery Outlet Inc. (the “Company”) which maximize
the Company’s performance and drive shareholder value by providing an annual cash incentive opportunity to participating employees that may be earned for achievement of short-term financial and strategic goals. The Plan shall be effective as of
January 1, 2019 and shall be administered by the Compensation Committee of the Company (the “Administrator”). 
  

	1.	 Definitions. 

  

	 	a.	 “Base Salary” means the Participant’s annual base salary for the Bonus Period or
for the portion of the Bonus Period that a Participant is eligible; provided, however, that Base Salary shall exclude any portion of such annual base salary that relates to any period of time that a Participant is on a permitted leave
of absence. Base Salary is determined without regard to any salary deferrals under any deferred compensation plans or other pay or benefit programs of the Company in which the Participant participates. 

 

	 	b.	 “Bonus Amount” means, as to any Participant, the applicable bonus payment calculated
using Base Salary and Bonus Percent, subject to the requirements of Section 2. 

  

	 	c.	 “Bonus Percent” means a percentage of a Participant’s Base Salary, as determined
by the Company. 

  

	 	d.	 “Bonus Period” means from the first day of the fiscal year through the last day of such
fiscal year. 

  

	 	e.	 “Participant” means an employee who is designated to participate in the Plan by the
Company, subject to the requirements of Section 2. For purposes hereof, the Company shall be permitted to designate groups of employees by job title or level as Participants without the need to identify any individual Participant by name. In no
event shall a Participant include (i) independent contractors, (ii) temporary employees, or (iii) employees who are regularly scheduled to work less than 20 hours per week or are non-benefits
eligible. 

  

	 	f.	 “Payment Date” means the date on which a Bonus Amount (or a portion thereof), if any,
is paid to a Participant. 

  

	 	g.	 “Performance Goals” means the performance criteria and objectives that are established
by the Company for the applicable Bonus Period from time to time. 

  

	2.	 Eligibility for Bonus Amount. 

Except as otherwise provided under the Plan, each Participant is eligible to receive a Bonus Amount under the Plan if: 

 

	 	a.	 Such Participant became a Participant on or before October 1 of the applicable Bonus Period;

  

	 	b.	 Such Participant remains active in an eligible status in the employ of the Company through the date the Bonus
Amount (or a portion thereof) is paid; 

  

	 	c.	 The Performance Goals for the applicable Bonus Period are met; 

 

	 	d.	 Such Participant is in good standing. Participants whose performance needs improvement or is below standard (as
determined by the Administrator) may in the sole and absolute discretion of the Administrator be deemed ineligible to earn any Bonus Amount, in whole or in part. The following are a non-exhaustive list of
factors the Administrator may consider in determining a Participant’s below standard performance: (1) most recent annual performance rating below meets expectations; (2) currently on a performance improvement plan or being counseled
for below standards performance; or (3) has a final written warning in effect at the time of payment. 

 Participants in eligible
status who remain active, but change positions during the Bonus Period are eligible to earn a pro-rated bonus based upon their period of employment in eligible status during the Bonus Period. 

	3.	 Performance Goals. 

The Administrator shall approve the Performance Goals for the applicable Bonus Period. Achievement of Performance Goals, which will determine the amount, if
any, earned under the Plan, shall be determined by the Administrator or its designee. The Bonus Amount actually earned will be in the sole and exclusive discretion of the Administrator or its designee based on the application of the Performance
Goals for the applicable Bonus Period. 
  

	4.	 Payment of Bonus Amount. 

The payment with respect to any Bonus Amount (or a portion thereof) under the Plan shall be payable by the Company on a Payment Date, subject to a
Participant’s continued employment through such Payment Date. The Bonus Amount (or a portion thereof) will be payable as a lump sum cash amount or, at the discretion of the Administrator and if determined prior to the Payment Date, in shares of
the Company’s stock. The Bonus Amount (or a portion thereof) shall be subject to reduction for all required federal, state and local taxes and other legally required withholdings. 

 

	5.	 Termination of Employment. 

To the extent a Participant’s employment with the Company is terminated for any reason prior to the Payment Date, such Participant shall have no rights
with respect to any Bonus Amount or other payment or award under the Plan, unless otherwise prohibited by law. 
  

	6.	 Termination or Amendment of the Plan. 

The Plan may be amended, terminated or discontinued in whole or in part, at any time and from time to time at the sole and exclusive discretion of the
Administrator without further liability of the Company to any Participant. 
  

	7.	 Additional Terms. 

 

	 	a.	 If any provision of this Plan is found to be invalid or unenforceable, such provision shall not affect the
other provisions of the Plan, and the Plan shall be construed in all respects as if such invalid provision had been omitted. All questions concerning the construction, validation and interpretation of the Plan shall be governed by the laws of the
state of Delaware without regard to its conflict of laws provisions. 

  

	8.	 Miscellaneous. 

 

	 	a.	 No Right to Continued Employment. Nothing contained in the Plan shall confer upon any Participant any
right to continue in the employ of the Company or interfere in any way with the right of the Company to terminate any Participant’s employment, with or without cause. 

 

	 	b.	 Clawback Policy. Any Bonus Amount (or a portion thereof) payable under this Plan is subject to any
clawback, forfeiture or other similar policy adopted by the Company, as in effect from time to time. 

  

	 	c.	 Calculations. The Company’s Finance department shall have the responsibility of calculating each
Bonus Amount. The results will be independently reviewed by the Administrator or its designee. 

  

	 	d.	 Administration. The Administrator shall administer the Plan and be the sole and exclusive interpreter
and arbiter of the provisions of the Plan. 

  
 2EX-10.30

 Exhibit 10.30 

GLOBE HOLDING CORP. 

NON-EMPLOYEE DIRECTOR 

RESTRICTED STOCK UNIT AGREEMENT 

2014 STOCK INCENTIVE PLAN 

THIS NON-EMPLOYEE DIRECTOR RESTRICTED STOCK UNIT AGREEMENT (this “Agreement”),
is made, effective as of             , 20        (hereinafter the “Grant Date”), by and between Globe Holding Corp. (the
“Company”), and     (the “Participant”). 
 RECITALS: 

WHEREAS, the Company has adopted the Globe Holding Corp. 2014 Stock Incentive Plan (the “Plan”), pursuant to which
Other Stock-Based Awards including in the form of restricted stock units (which entitle the holder to receive one Share of voting Common Stock in respect of each such unit upon settlement of the award) (“Restricted Stock Units”) may
be granted; 
 WHEREAS, the Board of Directors of the Company (the “Board”) has determined that it is in the best
interests of the Company and its stockholders to grant to the Participant an Other Stock-Based Award in the form of Restricted Stock Units as provided herein and subject to the terms set forth herein; and 

WHEREAS, all capitalized terms not defined in this Agreement shall have the meanings ascribed thereto in the Plan. 

NOW THEREFORE, for and in consideration of the premises and the covenants of the parties contained in this Agreement, and for other
good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto, for themselves, their successors and assigns, hereby agree as follows: 

1. Grant of Restricted Stock Units. The Company hereby grants to the Participant on the Grant Date, a total of    
Restricted Stock Units (the “Participant RSUs”) on the terms and conditions set forth in this Agreement and as otherwise provided in the Plan. The Participant RSUs shall vest and settle in accordance with Section 3 hereof. As a
condition to the award of the Participant RSUs, and prior to the receipt of the RSU Shares (as defined in Section 2(b) below) on the first Vesting Date, the Participant shall execute (to the extent the Participant has not already done so) a
copy of the Stockholders Agreement and deliver the same to the Company, along with such additional documents as the Company may require. 

2. Terms and Conditions. 

(a) Vesting. The Participant RSUs shall vest and become non-forfeitable in equal annual
installments on each of the first, second and third anniversaries of the Grant Date, subject to the Participant’s continued Employment through each such date; provided, that, notwithstanding the foregoing, all unvested Participant RSUs
shall automatically vest upon a Change in Control if the Participant’s Employment has not been terminated prior to such Change in Control (each such anniversary of the Grant Date and the date of a Change in Control, a “Vesting
Date”). Upon the termination of the Participant’s Employment for any reason, all unvested Participant RSUs (and any Participant RSU Dividend Equivalents (as defined below) related to such unvested Participant RSUs) shall be
automatically forfeited for no consideration. 

 (b) Settlement. Within thirty (30) days of each Vesting Date, all Participant
RSUs that vested on such Vesting Date will be settled by the Company issuing to the Participant one (1) Share of voting Common Stock for each whole Participant RSU (such Shares, the “RSU Shares”) and making a cash payment to
the Participant equal to the Fair Market Value of any fractional Participant RSU. 
 (c) Restrictions. The Participant RSUs granted
hereunder may not be sold, pledged or otherwise transferred (other than by will or the laws of decent and distribution) and may not be subject to lien, garnishment, attachment or other legal process. The Participant acknowledges and agrees that,
with respect to the Participant RSUs, the Participant has no voting rights with respect to the Company unless and until such Participant RSUs are settled in RSU Shares pursuant to Section 3(b) hereof. The RSU Shares are subject to the transfer
restrictions set forth in the Plan, the Stockholders Agreement and any transfer restrictions that may be described in the Company’s certificate of incorporation or bylaws or charter in effect at the time of the contemplated transfer. 

(d) Dividends. If on any date the Company pays any dividend with respect to its Shares (the “Payment Date”), then, with
respect to each unvested Participant RSU, the Participant shall be entitled to receive [an amount in cash equal to the per share cash amount of such dividend (or, in the case of a dividend payable in Shares or in property other than cash, the per
share equivalent cash value of such dividend, as determined in good faith by the Committee)] [(i) in the case of a dividend payable in cash, an amount in cash equal to the per share cash amount of such dividend or (ii) in the case of a dividend
payable in Shares or in property other than cash, the per share amount of such Shares or other property (each such cash amount [or such Shares or other property] a “Participant RSU Dividend Equivalent”). Any Participant RSU Dividend
Equivalents payable to a Participant in accordance with this Section 3(d) shall vest and be settled at the same time as the original Participant RSUs to which they are attributable. 

(e) Rights as a Stockholder. Upon and following the delivery of RSU Shares on each Vesting Date, the Participant shall be the record
owner of such RSU Shares unless and until such RSU Shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a holder of Shares, including, without limitation, voting rights, if any, with respect to the RSU
Shares. Prior to the delivery of RSU Shares on each Vesting Date, the Participant shall not be deemed for any purpose to be the owner of such portion of the Shares underlying the Participant RSUs. 

3. Miscellaneous. 
 (a)
General Assets. All amounts credited to the Account under this Agreement shall continue for all purposes to be part of the general assets of the Company. The Participant’s interest in the Account shall make the Participant only a
general, unsecured creditor of the Company. 

  
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 (b) Notices. Any notices provided for in this Agreement or the Plan shall be given in
writing and shall be delivered by hand or sent by Federal Express, certified or registered mail, return receipt requested, postage prepaid, and shall be deemed effectively given upon receipt or, in the case of notices delivered by the Company to the
Participant, five (5) days after deposit in the United States mail, postage prepaid, addressed to the Participant at the last address the Participant provided to the Company. 

(c) Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability
of any other provision of this Agreement, and each other provision of this Agreement shall be severable and enforceable to the extent permitted by law. 

(d) Bound by Plan and Stockholders Agreement. By signing this Agreement, the Participant acknowledges that (i) the Participant has
received a copy of the Plan and has had an opportunity to review the Plan and agrees to be bound by all the terms and provisions of the Plan and (ii) the Participant has received and read the Stockholders Agreement, and (iii) the RSU
Shares will be subject to the Stockholders Agreement. 
 (e) Beneficiary. The Participant may file with the Company a written
designation of a beneficiary on such form as may be prescribed by the Company and may, from time to time, amend or revoke such designation. If no designated beneficiary survives the Participant, the executor or administrator of the
Participant’s estate shall be deemed to be the Participant’s beneficiary. 
 (f) Successors. The terms of this Agreement
shall be binding upon and inure to the benefit of the Company, its successors and assigns, and of the Participant and the beneficiaries, executors, administrators, heirs and successors of the Participant. 

(g) Governing Plan Document and Entire Agreement. The Participant RSUs are subject to all interpretations, amendments, rules and
regulations that may from time to time be promulgated and adopted pursuant to the Plan. In the event of any conflict between the provisions of the Plan and this Agreement, the provisions of the Plan shall control. This Agreement, the Plan and the
Stockholders Agreement contain the entire agreement and understanding of the parties hereto with respect to the subject matter contained herein and supersede all prior communications, representations and negotiations in respect thereto. No change,
modification or waiver of any provision of this Agreement shall be valid unless the same be in writing and signed by the parties hereto. 

(h) Governing Law. This Agreement shall be construed and interpreted in accordance with the laws of the State of Delaware without regard
to principles of conflicts of law thereof, or principals of conflicts of laws of any other jurisdiction which could cause the application of the laws of any jurisdiction other than the State of Delaware. 

(i) 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. 

  
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 (j) Signature in Counterparts. This Agreement may be signed in counterparts, each of
which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
 [SIGNATURE PAGE
FOLLOWS] 

  
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 IN WITNESS WHEREOF, this Agreement has been executed and delivered by the parties
hereto. 
  

			
	GLOBE HOLDING CORP.

 
			
		
	By	 	  

		
	Its	 	  

 

			
	PARTICIPANT:
	
	  

 
			
	Name:	 	  

  
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