Document:

Exhibit
10.3

 

NOTICE
OF OPTION GRANT

 

under
the

 

CINEDIGM
CORP. 2017 EQUITY INCENTIVE PLAN

 

No. of
shares subject to option:  « Stock Options » 

 

This
GRANT, made as of the _____ day of ___________, 20__ by Cinedigm Corp., a
Delaware corporation (the “Company”), to «First Name» «Last Name»
(“Participant”), is made pursuant and subject to the provisions of the Company’s 2017 Equity Incentive Plan
(the “Plan”), a copy of which has been given to Participant. All terms used herein that are defined in the Plan
have the same meanings given them in the Plan.

 

1.            
Grant of Option. Pursuant to the Plan, the Company, on ____________, 20__
(“Grant Date”), granted to Participant, subject to the terms and conditions of the Plan and subject further to
the terms and conditions herein set forth, the right and option to purchase from the Company all or any part of the aggregate of
_______ shares of Common Stock at the option price of $XX.XX per share
(the “Option Price”) (this grant referred to herein as the “Option”), being not less than the Market Price
per share of the Common Stock on the Grant Date of the Option. Such Option will be exercisable as hereinafter provided. This Option
is not intended to be treated as an incentive stock option under Code section 422.

 

2.            
Expiration Date. The Expiration Date of this Option is the date that is ten
(10) years from the Grant Date. This Option may not be exercised on or after the Expiration Date.

 

3.            
Vesting of Option. Except as provided in paragraphs 7, 8, or 10, this Option shall become vested on the _____ anniversary
of the Grant Date.

 

4.            
Exercisability of Option.
Except as provided in paragraphs 7, 8, or 10, this Option shall become exercisable on the _____ anniversary of the Grant Date.
Once the Option has become exercisable in accordance with the preceding sentence, it shall continue to be exercisable until the
termination of Participant’s rights hereunder pursuant to paragraphs 7, 8, or 10, or until
the Expiration Date, if earlier. A partial exercise of this Option shall not affect Participant’s right to exercise this
Option with respect to the remaining shares, subject to the terms and conditions of the Plan and those set forth herein.

 

5.            Method
of Exercising and Payment for Shares. This Option shall be exercised pursuant to
procedures established by the Committee for exercising this Option.

 

6.            
Nontransferability. This Option is nontransferable except by will or the laws
of descent and distribution. During Participant’s lifetime, this Option may be exercised only by Participant.

 

7.            Upon
a Qualifying Termination Event. 

 

(a)       Notwithstanding
anything in this Option to the contrary, if, prior to the forfeiture of the Option under paragraph 9, Participant experiences a
Qualifying Termination Event (as defined below), the Option shall become vested as to a pro-rata portion of the Option, as determined
in accordance with the following sentence. The pro-rata portion of the Option that shall
vest pursuant to the preceding sentence shall be equal to ___th of the shares subject to the Option, for each full month
of service performed by the Participant after the Grant Date and prior to the Qualifying Termination Event. The non-vested portion
of the Option shall be forfeited. 

 

     

     

    

  

(b)       The
portion of the Option vested pursuant to paragraph 3 or subparagraph (a) of this paragraph 7 may be exercised beginning on the
date the Option becomes vested and shall remain exercisable according to the terms provided in paragraph 4,
and the Participant or Participant’s beneficiary (or estate as the case may be) may exercise this Option during the
remainder of the period preceding the Expiration Date. Participant shall have the right to designate his beneficiary in accordance
with procedures established under the Plan for such purpose. If Participant fails to designate a beneficiary, or if at the time
of his death there is no surviving beneficiary, this Option may be exercised by his estate.

 

8.             Exercise
of Vested Option After Other Termination of Employment. Except as provided in paragraph
7, in the event Participant ceases to be employed by the Company or an Affiliate, the rules under this paragraph 8 shall apply.
If Participant ceases to be employed after the Option is vested, but prior to the Expiration Date, Participant may exercise this
Option with respect to the shares he is entitled to purchase pursuant to paragraphs 3 and 4 above within sixty (60) days of the
date of such termination of employment (but in no event later than the Expiration Date). Any portion of the vested Option
that is not exercised within the foregoing sixty (60) day period shall be immediately forfeited.

 

9.             Forfeiture.
Any non-vested portion of the Option that does not become vested pursuant to paragraph 3, 7(a) or 10, shall be forfeited if
Participant’s employment with the Company or an Affiliate terminates for any reason.

 

10.           Change
in Control. In the event of a Change in Control (as defined in the Plan) prior to the forfeiture of the Option under paragraph
9, the provisions of this paragraph 10 shall apply in addition to the provisions of Article 17 (and related provisions) of the
Plan.

 

(a)       Any
Replacement Award made to the Participant shall provide that if the Participant is terminated by the Company other than for Cause
or voluntarily resigns for Good Reason (as defined in paragraph 11) concurrent with or within two (2) years after the date of the
Change in Control, the non-vested Replacement Award shall become immediately vested and shall be exercisable as provided in paragraph
7(b), at the time of the termination or resignation. The Committee shall have the discretion to determine the terms of any Replacement
Award in compliance with the Plan and applicable law. For purposes of paragraphs 9 and 11, references to the Company or an Affiliate
shall also include any successor entity.

 

(b)       
Notwithstanding the provisions of subparagraph (a) hereof, in connection with a Change in Control where the Company’s
shares continue to be traded on the Nasdaq Global Market or another established securities market and this Option remains in effect,
if the Participant is terminated by the Company other than for Cause or voluntarily resigns for Good Reason (as defined in paragraph
11) concurrent with or within two (2) years after the date of the Change in Control, the non-vested Option shall become immediately
vested and shall be exercisable as provided in paragraph 7(b), as of the time of the termination or resignation.

 

11.           Qualifying
Termination Event and Other Terms.

 

(a)       For
purposes of this Option, Qualifying Termination Event shall mean a Participant’s death, Disability, termination by the Company
or an Affiliate other than for Cause, or voluntary termination for Good Reason.

 

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(b)       “Disability”
shall mean a Participant’s permanent and total disability within the meaning of Section 22(e)(3) of the Code.

 

(c)       If
the events described in subparagraph (a) or paragraph 10 occur after the date that the Participant is advised (upon recommendation
by the Committee) that his employment is being, or will be, terminated for Cause, on account of performance or in circumstances
that prevent him from being in good standing with the Company, accelerated vesting shall not occur and all rights under this Option
shall terminate, and this Option shall expire on the date of Participant’s termination of employment. The Committee shall
have the authority to determine whether Participant’s termination from employment is for Cause or for any reason other than
Cause.

 

12.           Fractional
Shares. Fractional shares shall not be issuable hereunder, and when any provision
hereof may entitle Participant to a fractional share such fraction shall be disregarded.

 

13.           No
Right to Continued Employment. This Option does not confer upon Participant any right
with respect to continuance of employment by the Company or an Affiliate, nor shall it interfere in any way with the right of the
Company or an Affiliate to terminate his employment at any time.

 

14.           Change
in Capital Structure. The terms of this Option shall be adjusted as the Committee
determines is equitable in the event the Company effects one or more stock dividends, stock split-ups, subdivisions or consolidations
of shares or other similar changes in capitalization.

 

15.          
Governing Law. This Option shall be governed by the laws of the State of Delaware
and applicable Federal law. All disputes arising under this Option shall be adjudicated solely within the state or Federal courts
located within the State of Delaware.

 

16.          Conflicts.

 

(a)       In
the event of any conflict between the provisions of the Plan as in effect on the date hereof and the provisions of this Option,
the provisions of the Plan shall govern. All references herein to the Plan shall mean the Plan as in effect on the date hereof.

 

(b)       In
the event of any conflict between the provisions of this Option and the provisions of any separate Agreement between the Company
and the Participant, including, but not limited to, any Severance Compensation Agreement, the provisions of that separate Agreement
shall govern.

 

17.           Binding
Effect. Subject to the limitations set forth herein and in the Plan, this Option shall be binding upon and inure to the
benefit of the legatees, distributees, and personal representatives of Participant and the successors of the Company. 

 

18.           Taxes. Tax withholding requirements attributable to the exercise of
this Option, including employment taxes, Federal income taxes, and state and local
income taxes with respect to the state and locality where, according to the Company's system of records, the Participant resides
at the time the Option is exercised, except as otherwise might be determined to be required by the Company, will be satisfied by
the Participant as instructed in the established procedures for exercising this Option; provided, however, that the
foregoing employment, Federal, state and local income tax withholding provision shall be subject to any special rules or provisions
that may apply to Participants who are non-US employees (working inside or outside of the United States) or US employees working
outside of the United States. It is the Participant's responsibility to properly report all income and remit all Federal, state,
and local taxes that may be due to the relevant taxing authorities as the result of exercising this Option.

 

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19.           Recoupment.
In addition to any other applicable provision of the Plan, this Option is subject to the terms of any separate Clawback Policy
maintained by the Company, as such Policy may be amended from time to time.

 

20.           Acceptance.
Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. Participant has read and understands the terms
and provisions thereof, and accepts the Option subject to all of the terms and conditions of the Plan and this Agreement. The Participant
acknowledges that there may be adverse tax consequences upon exercise of the Option or disposition of the underlying shares and
that the Participant should consult a tax advisor prior to such exercise or disposition.

 

IN WITNESS
WHEREOF, the Company and Participant have each caused this Notice of Option Grant to be signed on their behalf. 

 

	 	 	Cinedigm Corp.
	 	 	 
	 	By:	 
	 	 	 
	 	 	 
	 	 	 
	 	 	Participant

 

    4Exhibit 10.4

 

NOTICE OF RESTRICTED STOCK AWARD

 

under the

 

CINEDIGM CORP. 2017 EQUITY INCENTIVE
PLAN

 

_______ Shares of Restricted Stock

 

THIS AWARD, made as of the ___ day of
_____, 20__, by Cinedigm Corp., a Delaware Corporation (the “Company”), to _______________ (“Participant”),
is made pursuant to and subject to the provisions of the Company’s 2017 Equity Incentive Plan (the “Plan”). All
terms that are used herein that are defined in the Plan shall have the same meaning given them in the Plan.

 

		1.	Award of Stock. Pursuant to the Plan, the Company, on _____ __, 20__ (the “Date of Grant”), granted
Participant, subject to the terms and conditions of the Plan and subject further to the terms and conditions set forth herein,
an award of ________ shares of Common Stock, hereinafter described as “Restricted Stock.”

 

		2.	Restrictions. Except as provided in this Notice of Award, the Restricted Stock is nontransferable and is subject
to a substantial risk of forfeiture.

 

		3.	Stock Power.  Participant shall deliver to the Company a stock power, endorsed in blank, with respect to the
Restricted Stock evidenced by each Certificate. The Company shall use the stock power to cancel any shares of Restricted Stock
that do not become Vested (defined below). The Company shall return the stock power to Participant with respect to any shares of
Restricted Stock that become Vested.

 

		4.	Vesting. Participant’s interest in the shares of Restricted Stock shall become transferable and nonforfeitable
(“Vested”) as of the _____ anniversary of the Date of Grant.

 

Termination of Employment
During the Vesting Period

 

		5.	Upon a Qualifying Termination Event. Notwithstanding anything in this Notice of Award to the contrary, if, prior
to the forfeiture of the Restricted Stock under paragraph 6, Participant experiences a Qualifying Termination Event (as defined
below), Restricted Stock that is forfeitable shall become vested as to a pro-rata portion of the Award, as determined in accordance
with the following sentence. The pro-rata portion of the Award that shall vest pursuant to the preceding sentence shall be equal
to ____th of the Restricted Stock subject to the Award, for each full month of service performed by the Participant
after the Grant Date and prior to the Qualifying Termination Event. The non-vested portion of the Award shall be forfeited.

 

		6.	Forfeiture. Except as provided in paragraph 7, all Restricted Stock that is forfeitable shall be forfeited if
Participant’s employment with the Company or an Affiliate terminates for any reason except a Qualifying Termination Event.

 

     

     

    

 

General Provisions

 

		7.	Change in Control. In the event of a Change in Control (as defined in the Plan) prior to the forfeiture of the
Restricted Stock under paragraph 6, the provisions of this paragraph 7 shall apply in addition to the provisions of Article 17
(and related provisions) of the Plan.

 

(a)       Any
Replacement Award made to the Participant shall provide that if the Participant is terminated by the Company other than for Cause
or voluntarily resigns for Good Reason (as defined in paragraph 19) concurrent with or within two (2) years after the date of the
Change in Control, the unvested Replacement Award shall become immediately vested and payable at the time of the termination or
resignation. The Committee shall have the discretion to determine the terms of any Replacement Award in compliance with the Plan
and applicable law. For purposes of paragraphs 5 and 8, references to the Company or an Affiliate shall also include any successor
entity.

 

(b)       Notwithstanding
the provisions of subparagraph (a) hereof, in connection with a Change in Control where the Company’s shares continue to
be traded on the NASDAQ Global Market or another established securities market, and this Award remains in effect, if the Participant
is terminated by the Company other than for Cause or voluntarily resigns for Good Reason (as defined in paragraph 8) concurrent
with or within two (2) years after the date of the Change in Control, the unvested Award shall become immediately vested and payable
at the time of the termination or resignation.

 

		8.	Qualifying Termination Event and Other Terms 

 

(a)       For
purposes of this Award, Qualifying Termination Event shall mean a Participant’s death, Disability, or termination by the
Company or an Affiliate other than for Cause, or voluntary termination for Good Reason.

 

(b)       “Disability”
shall mean a Participant’s permanent and total disability within the meaning of Section 22(e)(3) of the Code.

 

(c)       If
the events described in subparagraph (a), or paragraph 7 occur after the date that the Participant is advised (upon recommendation
by the Committee) that his employment is being, or will be, terminated for Cause, on account of performance or in circumstances
that prevent him from being in good standing with the Company, accelerated vesting shall not occur and all rights under this Award
shall terminate, and this Award shall expire on the date of Participant’s termination of employment. The Committee shall
have the authority to determine whether Participant’s termination from employment is for Cause or for any reason other than
Cause.

 

		9.	Custody of Certificates. Each Certificate shall be retained by the Company so long as the Restricted Stock evidenced
by the Certificate is nontransferable. The Company shall deliver to Participant the Certificate when the Restricted Stock evidenced
by the Certificate becomes Vested.

 

		10.	Shareholder Rights. Participant will have the right to vote the Restricted Stock as of the Date of Grant.

 

		11.	No Right to Continued Employment.  Neither this Notice of Award nor the issuance of Restricted Stock shall confer
upon Participant any right with respect to continuance of employment by the Company or an Affiliate, nor shall it interfere in
any way with the right of the Company or an Affiliate to terminate his employment at any time.

 

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		12.	Change in Capital Structure. In accordance with the terms of the Plan, the terms of this grant shall be adjusted
as the Committee determines is equitable in the event the Company effects one or more stock dividends, stock split-ups, subdivisions
or consolidations of shares or other similar changes in capitalization.

 

		13.	Governing Law. This Notice of Award shall be governed by the laws of the State of Delaware and federal Law.

 

		14.	Conflicts.

 

(a)       In
the event of any conflict between the provisions of the Plan as in effect on the Date of Grant and the provisions of this Notice
of Award, the provisions of the Plan shall govern. All references herein to the Plan shall mean the Plan as in effect on the Date
of Grant.

 

(b)       In
the event of any conflict between the provisions of this Award and the provisions of any separate Agreement between the Company
and the Participant, including, but not limited to, any Severance Compensation Agreement entered between the Participant and the
Company, the provisions of that separate Agreement shall govern.

 

		15.	Participant Bound by Plan. Participant hereby acknowledges receipt of a copy of the Plan and agrees to be bound
by all the terms and provisions thereof.

 

		16.	Binding Effect. Subject to the limitations stated above and in the Plan, this Notice of Award shall be binding
upon and inure to the benefit of the legatees, distributees, and personal representatives of the Participant and the successors
of the Company.

 

		17.	Taxes. Participant shall be responsible for the satisfaction of income and employment tax withholding requirements
attributable to the vesting of shares of Restricted Stock.

 

		18.	Recoupment. In addition to any other applicable provision of the Plan, this Award is subject to the terms of
any separate Clawback Policy maintained by the Company, as such Policy may be amended from time to time.

 

IN WITNESS WHEREOF, the Company and Participant
have each caused this Notice of Award to be signed on their behalf.

 

	 	CINEDIGM CORP.
	 	 	 
	 	By	 
	 	 	 
	 	 	 
	 	 	 
	 	 	Participant

 

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