Document:

Exhibit 10.6

 

FLOOR
 & dEcor HOLDINGS, Inc.

 

Restricted Stock Agreement

Pursuant to the

Floor & Decor Holdings, Inc.

2017 Stock Incentive Plan

 

AGREEMENT (this “Agreement”),
dated as of _________ (the “Grant Date”) between Floor & Decor Holdings, Inc., a Delaware corporation
(the “Company” and, collectively with its controlled Affiliates, the “Employer”),
and _________________ (the “Participant”).

 

Preliminary Statement

 

Subject to the terms and conditions set
forth herein, the Committee hereby grants shares of Common Stock as set forth below (the “Shares”) to
the Participant, as an Eligible Employee, Consultant or Non-Employee Director, on the Grant Date pursuant to the Floor & Decor
Holdings, Inc. 2017 Stock Incentive Plan, as it may be amended from time to time (the “Plan”). Pursuant
to Section 2 hereof, the Shares are subject to certain restrictions, which restrictions shall lapse at the times provided
under Section 2(c) hereof. While such restrictions are in effect, the Shares subject to such restrictions shall be referred
to herein as “Restricted Stock.” Except as otherwise indicated, any capitalized term used but not defined
herein shall have the meaning ascribed to such term in the Plan. By signing and returning this Agreement, the Participant acknowledges
having received and read a copy of the Plan and agrees to comply with it, this Agreement and all applicable laws and regulations.

 

Accordingly, the parties hereto agree as
follows:

 

NOW, THEREFORE, the parties agree
as follows:

 

1.            Grant of Shares. Subject to the Plan and the terms and conditions set forth herein and therein, including
the restrictions set forth in Section 2 hereof, the Participant is hereby granted _____ Shares of Restricted Stock
on the Grant Date.

 

2.            Restricted
Stock.

 

(a)           Retention
of Certificates. Promptly after the date of this Agreement, the Company shall issue stock certificates representing the
Restricted Stock unless it elects to recognize such ownership through book entry or another similar method. The stock certificates
shall be registered in the Participant’s name and shall bear any legend required by the Plan. Unless held in book entry
form, such stock certificates shall be held in custody by the Company (or its designated agent) until the restrictions on the
Restricted Stock shall have lapsed. Upon the Company’s request, the Participant shall deliver to the Company a duly signed
stock power, endorsed in blank, relating to the Restricted Stock. If the Participant receives, with respect to the Restricted
Stock or any part thereof, any (i) dividend (whether paid in shares, securities, moneys or property), (ii) shares of Restricted
Stock pursuant to any split, (iii) distribution or return of capital resulting from a split-up, reclassification or other like
changes of the Restricted Stock or (iv) warrants, options or any other rights or properties (collectively “RS Property”),
the Participant will also immediately deposit with and deliver to the Company any of such RS Property, including, upon the Company’s
request, any certificates representing shares duly endorsed in blank or accompanied by stock powers duly executed in blank. The
RS Property shall be subject to the same restrictions, including that of this Section 2(a), as the Restricted Stock with
respect to which it is issued and shall be encompassed within the term “Restricted Stock.” Unless otherwise determined
by the Committee, any RS Property issued in the form of cash will not be reinvested in Common Stock and will be held until delivered
to the Participant within 30 days after the date the Restricted Stock becomes vested.

 

    	 	1	 

     

    

 

(b)           Rights
with Respect to Restricted Stock. The Participant will have all rights of a stockholder with respect to the Restricted
Stock, including the right to vote the Restricted Stock, to receive and retain any dividends payable to holders of Common Stock
of record on and after the transfer of the Restricted Stock (although such dividends shall be treated, to the extent required
by applicable law, as additional compensation for tax purposes if paid on Restricted Stock, and such dividends will be subject
to the restrictions provided in Section 2(a)), and to exercise all other rights, powers and privileges of a holder of Common
Stock with respect to the Restricted Stock set forth in the Plan, with the exceptions that: (i) the Participant will not be entitled
to delivery of the stock certificate or certificates representing the Restricted Stock until the Restriction Period shall have
expired; (ii) the Company (or its designated agent) will retain custody of the stock certificate or certificates representing
the Restricted Stock during the Restriction Period; (iii) no RS Property shall bear interest or be segregated in separate accounts
during the Restriction Period; and (iv) the Participant may not sell, assign, transfer, pledge, exchange, encumber, hypothecate
or otherwise dispose of the Restricted Stock during the Restriction Period.

 

(c)           Vesting.
The Restricted Stock shall vest and cease to be “Restricted Stock” as provided below.

 

(i)        Performance- and Service-Based Vesting.

 

		(A)	______ Shares shall vest and cease to be “Restricted Stock”, if at all, on _________
if: (1) at the Measurement Date (as defined below), the Committee determines and certifies that [PERFORMANCE GOAL] (as defined
on Exhibit A attached hereto) is achieved and (2) the Participant has not incurred a Termination, through ____________(the
 “Performance Goal(s)”)1

 

		(B)	For purposes of this Agreement, the “Measurement Date” is the date on
which the Committee determines and certifies the extent to which the Performance Goals have been achieved. The Measurement Date
shall occur as soon as practicable following the end of the Performance Period (as defined in Exhibit A attached hereto),
but in no event later than 60 days following the end of the Performance Period. The Committee’s determination and certification
of (I) the achievement of Performance Goals and (II) the number of Shares that vest pursuant to Section 2(c)(i), shall be
final and binding on the Participant. Any portion of the Shares, if any, that does not vest in accordance with Section 2(c)(i)
shall be automatically forfeited in its entirety.

 

 

1 Additional performance goal(s)
to be added, as applicable.

 

    	 		 

     

    

 

		(C)	Notwithstanding anything herein to the contrary, the Committee shall have discretion to adjust
the Performance Goals, or the metrics used to determine achievement of the Performance Goals, to reflect (I) a change in accounting
standards or principles, (II) a significant acquisition or divestiture, (III) a significant capital transaction, (IV) a change
to or difference in the applicable fiscal year, or (V) any other unusual, nonrecurring or other extraordinary event or item.

 

(ii)       Service-Based
Vesting. ____ Shares shall vest and cease to be “Restricted Stock”, if at all, on _________; provided that the
Participant has not incurred a Termination, through such date.

 

(d)           Detrimental
Activity.

 

(i)       In
consideration for the grant of Restricted Stock and in addition to any other remedies available to the Company, the Participant
acknowledges and agrees that the Restricted Stock is subject to the provisions in the Plan regarding Detrimental Activity. If
the Participant engages in any Detrimental Activity prior to, or during the two-year period after, any vesting of Restricted Stock,
all unvested Restricted Stock shall be forfeited, without compensation, and the Committee shall be entitled to recover from the
Participant (at any time within one year after such engagement in Detrimental Activity) an amount equal to the Fair Market Value
as of the vesting date(s) of any Restricted Stock that had vested in the period referred to above.

 

(ii)      The
restrictions regarding Detrimental Activity are necessary for the protection of the business and goodwill of the Company and are
considered by the Participant to be reasonable for such purposes. Without intending to limit the legal or equitable remedies available
in the Plan and in this Agreement, the Participant acknowledges that engaging in Detrimental Activity will cause the Company material
irreparable injury for which there is no adequate remedy at law, that it will not be possible to measure damages for such injuries
precisely and that, in the event of such activity or threat thereof, the Company shall be entitled, in addition to the remedies
provided under the Plan, to obtain from any court of competent jurisdiction a temporary restraining order or a preliminary or
permanent injunction restraining the Participant from engaging in Detrimental Activity or such other relief as may be required
to specifically enforce any of the covenants in the Plan and this Agreement without the necessity of posting a bond, and in the
case of a temporary restraining order or a preliminary injunction, without having to prove special damages.

 

    	 		 

     

    

 

(e)           Forfeiture. The Participant shall forfeit to the Company, without compensation, any and all unvested Restricted
Stock upon the Participant’s Termination for any reason.

 

(f)           Withholding.
Unless otherwise directed or permitted by the Committee, the Participant shall pay or provide for all applicable withholding
taxes in respect of the vesting of the Restricted Stock by (i) remitting the aggregate amount of such taxes to the Company in
full, by cash, or by check, bank draft or money order payable to the order of the Company, (ii) to the extent permitted by the
Committee, having the Employer withhold, from Shares that have vested and ceased to be “Restricted Stock,” a number
of whole Shares having a Fair Market Value equal to an amount necessary to satisfy all required federal, state, local and other
non-U.S. withholding obligations using up to the maximum statutory withholding rates, as determined by the Company, for federal,
state, local or non-U.S. tax purposes, including payroll taxes, or (iii) to the extent permitted by the Committee, by making arrangements
with the Company to have such taxes withheld from other compensation due to the Participant.

 

(g)           Section 83(b). The Participant shall not be permitted to make an election pursuant to Section 83(b) of the
Code.

 

3.            Legend.
All certificates representing the Restricted Stock shall have endorsed thereon the following legend:

 

(a)           “The
anticipation, alienation, attachment, sale, transfer, assignment, pledge, encumbrance or charge of the shares of stock represented
hereby are subject to the terms and conditions (including forfeiture) of the Floor & Decor Holdings, Inc. (the “Company”)
2017 Stock Incentive Plan (as amended from time to time, the “Plan”), and an Award Agreement entered
into between the registered owner and the Company. Copies of such Plan and Agreement are on file at the principal office of the
Company.”

 

Notwithstanding the
foregoing, in no event shall the Company be obligated to issue a certificate representing the Restricted Stock prior to the vesting
dates set forth above.

 

4.            Termination
and Change in Control. The provisions in the Plan regarding Termination and Change in Control shall apply to the Shares.

 

5.            Restriction
on Transfer of Shares. The provisions in the Plan regarding Transfer Restrictions shall apply to the Shares.

 

6.           Provisions of Plan Control. This Agreement is subject to all the terms, conditions and provisions of the Plan,
including the amendment provisions thereof, and to such rules, regulations and interpretations relating to the Plan as may be adopted
by the Committee and as may be in effect from time to time. The Plan is incorporated herein by reference. If and to the extent
that this Agreement conflicts or is inconsistent with the Plan, the Plan shall control, and this Agreement shall be deemed to be
modified accordingly.

 

    	 		 

     

    

 

7.            Notices.
All notices, demands or requests made pursuant to, under or by virtue of this Agreement must be in writing and sent to the
party to which the notice, demand or request is being made:

 

(a)           unless
otherwise specified by the Company in a notice delivered by the Company in accordance with this Section 7, any notice required
to be delivered to the Company shall be properly delivered if delivered to:

 

Floor & Decor Holdings, Inc.

2500 Windy
Ridge Parkway, SE

Atlanta, GA 30339

	Attention:	General Counsel
	Telephone:	(404) 471-1634
	Facsimile:	(404) 393-3540

 

with a copy (which shall not constitute notice) to:

 

Proskauer Rose LLP

2029 Century Park East, Suite 2400

Los Angeles, CA 90067

	Attention:	Colleen M. Hart, Esq.
	Telephone: 	(310) 284-4519
	Facsimile:  	(310) 557-2193
	Email:  	chart@proskauer.com

 

(b)           if
to the Participant, to the address on file with the Employer.

 

Any notice, demand or request, if made
in accordance with this Section 7 shall be deemed to have been duly given: (i) when delivered in person; (ii) three days
after being sent by United States mail; or (iii) on the first business day following the date of deposit if delivered by a nationally
recognized overnight delivery service.

 

8.            No
Right to Employment/Consultancy/Directorship. This Agreement shall not give the Participant or other Person any right
to employment, consultancy or directorship by the Employer, or limit in any way the right of the Employer to terminate the Participant’s
employment, consultancy or directorship at any time.

 

9.           Waiver
of Jury Trial. Each party to this Agreement, for itself and its affiliates,
hereby irrevocably and unconditionally waives to the fullest extent permitted by applicable law all right to trial by jury in
any action, proceeding or counterclaim (whether based on contract, tort or otherwise) arising out of or relating to the actions
of the parties hereto or their respective affiliates pursuant to THE PLAN OR this Agreement or in the negotiation, administration,
performance or enforcement of THE PLAN OR this Agreement.

 

    	 		 

     

    

 

10.          Dispute
Resolution. All controversies and claims arising out of or relating to this Agreement, or the breach hereof, shall be
settled by the Employer’s mandatory dispute resolution procedures as may be in effect from time to time with respect to
matters arising out of or relating to Participant’s employment with the Employer.

 

11.          Severability
of Provisions. If at any time any of the provisions of this Agreement shall be held invalid or unenforceable, or are prohibited
by the laws of the jurisdiction where they are to be performed or enforced, by reason of being vague or unreasonable as to duration
or geographic scope or scope of the activities restricted, or for any other reason, such provisions shall be considered divisible
and shall become and be immediately amended to include only such restrictions and to such extent as shall be deemed to be reasonable
and enforceable by the court or other body having jurisdiction over this Agreement and the Company and the Participant agree that
the provisions of this Agreement, as so amended, shall be valid and binding as though any invalid or unenforceable provisions
had not been included.

 

12.          Governing
Law. All matters arising out of or relating to this Agreement and the transactions contemplated hereby, including its
validity, interpretation, construction, performance and enforcement, shall be governed by and construed in accordance with the
internal laws of the State of Delaware, without giving effect to its principles of conflict of laws.

 

13.          Section
409A. Although the Company makes no guarantee with respect to the tax treatment of the Restricted Stock, the award of
Restricted Stock pursuant to this Agreement is intended to be exempt from Section 409A and shall be limited, construed and interpreted
in accordance with such intent. With respect to any dividends and other RS Property, however, this Agreement is intended to comply
with, or to be exempt from, the applicable requirements of Section 409A and shall be limited, construed and interpreted in accordance
with such intent; provided that the Employer does not guarantee to the Participant any particular tax treatment of the
Restricted Stock or RS Property. In no event whatsoever shall the Employer be liable for any additional tax, interest or penalties
that may be imposed on the Participant by Section 409A or any damages for failing to comply with Section 409A.

 

14.          Interpretation.
Unless a clear contrary intention appears: (a) the defined terms herein shall apply equally to both the singular and plural
forms of such terms; (b) reference to any Person includes such Person’s successors and assigns but, if applicable, only
if such successors and assigns are not prohibited by the Plan or this Agreement, and reference to a Person in a particular capacity
excludes such Person in any other capacity or individually; (c) any pronoun shall include the corresponding masculine, feminine
and neuter forms; (d) reference to any agreement, document or instrument means such agreement, document or instrument as amended
or modified and in effect from time to time in accordance with the terms thereof; (e) reference to any law, rule or regulation
means such law, rule or regulation as amended, modified, codified, replaced or reenacted, in whole or in part, and in effect from
time to time, including rules and regulations promulgated thereunder, and reference to any section or other provision of any law,
rule or regulation means that provision of such law, rule or regulation from time to time in effect and constituting the substantive
amendment, modification, codification, replacement or reenactment of such section or other provision; (f) “hereunder,”
 “hereof,” “hereto,” and words of similar import shall be deemed references to this Agreement as a whole
and not to any particular article, section or other provision hereof; (g) numbered or lettered articles, sections and subsections
herein contained refer to articles, sections and subsections of this Agreement; (h) “including” (and with correlative
meaning “include”) means including without limiting the generality of any description preceding such term; (i) “or”
is used in the inclusive sense of “and/or”; (j) references to documents, instruments or agreements shall be deemed
to refer as well to all addenda, exhibits, schedules or amendments thereto; and (k) reference to dollars or $ shall be deemed
to refer to U.S. dollars.

 

    	 		 

     

    

 

15.          No
Strict Construction. This Agreement shall be construed without regard to any presumption or rule requiring construction
or interpretation against the party drafting an instrument or causing any instrument to be drafted.

 

 

[Remainder of Page Left Intentionally
Blank]

 

    	 		 

     

    

 

IN WITNESS WHEREOF, the
parties have executed this Agreement on the date and year first above written.

 

	 	FLOOR & DECOR HOLDINGS, INC.
	 	 
	 	 
	 	By: 	            
	 	Name: 
	 	Title: 

 

 

	PARTICIPANT 	 
	 	 
	 	 
	By: 	           	 
	Name:Exhibit
10.1

 

[Form
of Limited Waiver]

 

February
4, 2020

 

Sigma
Labs, Inc.

3900
Paseo del Sol

Santa
Fe, New Mexico 87507

Attention:
John Rice

(rice@sigmalabsinc.com)

 

	 	Re:	Limited
    Waiver

 

Reference
is made to that certain Securities Purchase Agreement, dated as of January 27, 2020, (the “Securities Purchase
Agreement”), between Sigma Labs, Inc., a Nevada corporation (the “Company”), the undersigned
(the “Holder”) and the other investors signatory thereto (the “Other Holders”, and
together with the Holder, the “Investors”) and all capitalized terms used herein and not otherwise defined
herein shall have the meanings ascribed to such terms in the Securities Purchase Agreement. Pursuant to Section 4(k) of the
Securities Purchase Agreement, the Company may not, without the prior written consent of the Required Holders, during the
period commencing on the date of the Securities Purchase Agreement and ending on the date immediately following the
60th calendar day after the Applicable Date, issue, offer or sell any equity security other than Excluded
Securities (the “Lock-Up Restriction”).

 

Effective
as of the time the Required Holders have executed limited waivers in the form of this limited waiver, and notwithstanding the
foregoing Lock-Up Restriction, if the Company delivers a written notice to the Buyers specifying (a) that it intends to consummate
one or more bona fide underwritten public offerings (each, a “Proposed Offering”) pursuant to the Company’s
Form S-3 “shelf” registration statement during the period commencing on March 1, 2020 through August 3, 2020 (the
“Limited Waiver Period”) and (b) including a certification by the underwriter of the reasonably expected gross
proceeds from such Proposed Offering (the “Anticipated Proceeds”) and, if by the fifth (5th) Business
Day after the delivery of such written notice to each of the Buyers, the Company shall not have received at least the lesser of
(i) the difference of (x) $5 million less (y) the sum of the aggregate exercise price of each exercise of any Preferred Warrants
on or prior to such date of determination and (ii) such Anticipated Proceeds, as applicable, from the exercise of one or more
Preferred Warrants on or prior to such date of determination, the Holder hereby waives the Lock-Up Restriction for such Proposed
Offering during the Limited Waiver Period; provided, that the foregoing limited waiver shall only apply to Proposed Offerings
hereunder until the Company shall have received $5 million, in the aggregate, from the exercise of Preferred Warrants and/or gross
proceeds of one or more Proposed Offerings.

 

For
the sake of clarity, notwithstanding the foregoing consent, each of the Transaction Documents shall remain in full force and effect
and is hereby ratified and confirmed in all respects.

 

The
Company shall, on or before 8:30 a.m., New York City Time, on or prior to the first business day after the date of this limited
waiver, file a Current Report on Form 8-K describing the terms of the transactions contemplated hereby in the form required by
the 1934 Act and attaching the form of this limited waiver as an exhibit to such filing (including all attachments, the “8-K
Filing”). From and after the filing of the 8-K Filing, the Company shall have disclosed all material, non-public information
(if any) provided up to such time to the Holder by the Company or any of its Subsidiaries or any of their respective officers,
directors, employees or agents. In addition, effective upon the filing of the 8-K Filing, the Company acknowledges and agrees
that any and all confidentiality or similar obligations under any agreement with respect to the transactions contemplated hereby
or as otherwise disclosed in the 8-K Filing, whether written or oral, between the Company, any of its Subsidiaries or any of their
respective officers, directors, affiliates, employees or agents, on the one hand, and any of the Holder or any of their affiliates,
on the other hand, shall terminate. Neither the Company, its Subsidiaries nor the Holder shall issue any press releases or any
other public statements with respect to the transactions contemplated hereby; provided, however, the Company shall be entitled,
without the prior approval of the Holder, to make a press release or other public disclosure with respect to such transactions
(i) in substantial conformity with the 8-K Filing and contemporaneously therewith or (ii) as is required by applicable law and
regulations (provided that in the case of clause (i) the Holder shall be consulted by the Company in connection with any such
press release or other public disclosure prior to its release). Without the prior written consent of the Holder (which may be
granted or withheld in the Holder’s sole discretion), except as required by applicable law, the Company shall not (and shall
cause each of its Subsidiaries and affiliates to not) disclose the name of the Holder in any filing, announcement, release or
otherwise.

 

The
obligations of the Holder under this limited waiver are several and not joint with the obligations of any Other Holder, and the
Holder shall not be responsible in any way for the performance of the obligations of any Other Holder under any other agreement
(each, an “Other Agreement”). Nothing contained herein or in any Other Agreement, and no action taken by the
Holder pursuant hereto, shall be deemed to constitute the Holder and Other Holders as a partnership, an association, a joint venture
or any other kind of entity, or create a presumption that the Holder and Other Holders are in any way acting in concert or as
a group with respect to such obligations or the transactions contemplated by this limited waiver or any Other Agreement and the
Company acknowledges that, to the best of its knowledge, the Holder and the Other Holders are not acting in concert or as a group
with respect to such obligations or the transactions contemplated by this limited waiver or any Other Agreement. The Company and
the Holder confirm that the Holder has independently participated in the negotiation of the transactions contemplated hereby with
the advice of its own counsel and advisors. The Holder shall be entitled to independently protect and enforce its rights, including,
without limitation, the rights arising out of this limited waiver, and it shall not be necessary for any Other Holder to be joined
as an additional party in any proceeding for such purpose.

 

Section
9 of the Securities Purchase Agreement is hereby incorporated by reference herein, mutatis mutandis.

 

	 	[SIGNATURE
    OF INVESTOR]

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