Document:

Exhibit 10.3

 

GLOBAL EAGLE ENTERTAINMENT INC.

 

NONSTATUTORY STOCK OPTION AGREEMENT

 

1. Grant of Option. Global Eagle Entertainment
Inc., a Delaware corporation (the “Company”), hereby grants to [                    ] (the “Optionee”), an option
(the “Option”), pursuant to the Company’s 2012 Equity Incentive Plan (the “Plan”), to purchase an
aggregate of [                    ] shares (the “Underlying Shares”) of Common Stock, par value $0.0001 per share (“Common
Stock”), of the Company at a price of $[                    ] per share (the “Exercise Price”), purchasable as set forth
in and subject to the terms and conditions of this Nonstatutory Stock Option Agreement (the “Agreement”) and the Plan.
Except where the context otherwise requires, the term “Company” shall include the parent and all subsidiaries of the
Company as defined in Sections 424(e) and 424(f) of the Internal Revenue Code of 1986, as amended (the “Code”). Capitalized
terms used but not otherwise defined herein shall have the meaning ascribed to such terms in the Plan. To the extent that any term
of this Agreement conflicts or is otherwise inconsistent with any term of the Plan, as amended from time to time, the terms of
the Plan shall take precedence and supersede any such conflicting or inconsistent term contained herein.

 

2. Nonstatutory Stock Option. This Option is
not intended to qualify as an “incentive stock option” within the meaning of Section 422 of the Code.

 

3. Exercise of Option and Provisions for Termination.

 

(a)Vesting Schedule. [Vesting to be specified
by the Compensation Committee of the Board of Directors.] Except as otherwise provided in this Agreement, this Option may be exercised
at any time prior to the tenth anniversary of the date of grant (the “Expiration Date”) in installments as to not more
than the number of Underlying Shares then Vested pursuant to the provisions of this Section 3(a). The right of exercise shall be
cumulative so that if this Option is not exercised to the maximum extent permissible during any exercise period it shall be exercisable,
in whole or in part, with respect to all Underlying Shares not so purchased at any time prior to the Expiration Date or the earlier
termination of this Option. This Option may not be exercised at any time after the Expiration Date.

 

(b)Exercise Procedure. Subject to the conditions
set forth in this Agreement, the Employee may exercise this Option by delivery of notice in a form (which may be electronic) approved
by the Company to the Company or its designated Administrative Service (as defined below) accompanied by payment of consideration
in an amount equal to the aggregate Exercise Price for the Underlying Shares to be purchased by such means as may be permitted
by the Company or the Administrative Service, including, without limitation, by electing that the Company or the Administrative
Service withhold delivery of such number of Underlying Shares having an aggregate Fair Market Value equal in amount to the aggregate
Exercise Price for all Underlying Shares to be purchased plus the amount of all applicable Federal, state and local income and
employment tax withholding requirements and applicable fees. Such exercise shall be effective upon receipt by the Company or the
Administrative Service of such notice together with the required payment. The Employee may purchase less than the number of Underlying
Shares for which this Option is Vested at any point in time; provided, however, that no partial exercise of this Option may be
for any fractional shares. “Administrative Service” shall mean [ ] or any successor third-party stock option administrator
designated by the Company from time to time.

 

(c)Continuous Engagement Required. Except as
otherwise provided in this Section 3, this Option may not be exercised unless the Optionee, at the time that he or she exercises
this Option, is, and has been at all times since the date of grant of this Option, a Director of the Company.

 

    	 

    	 

    

 

(d)Exercise Period Upon Termination of Engagement.
If the Optionee ceases to be a Director of the Company for any reason other than death or Disability, the right to exercise this
Option shall terminate three months after such cessation (but in no event after the Expiration Date); provided, however, that this
Option shall be exercisable only to the extent that the Optionee was entitled to exercise this Option on the date of such cessation.

 

(e)Exercise Period Upon Death or Disability.
If the Optionee dies or becomes Disabled prior to the Expiration Date while he or she is a Director of the Company, or if the Optionee
dies within three months after the Optionee ceases to be a Director of the Company, this Option shall be exercisable, within the
period of one year following the date of death or Disability of the Optionee (but in no event after the Expiration Date) by the
Optionee or by the person to whom this Option is transferred by will or the laws of descent and distribution or pursuant to a qualified
domestic relations order (as defined in the Code) or Title I of the Employee Retirement Income Security Act of 1974, as amended
(“ERISA”), or the rules thereunder; provided, however, that this Option shall be exercisable only to the extent that
this Option was exercisable by the Optionee on the date of his or her death or Disability.

 

(f)Discharge for Cause. If the Optionee, prior
to the Expiration Date, ceases to serve as a Director of the Company because he or she is discharged for cause, the right to exercise
this Option shall terminate immediately upon such termination for cause.

 

4.Non-transferability of Option. Except as provided
in Section 3(e), this Option is personal and no rights granted hereunder may be transferred, assigned, pledged or hypothecated
in any way (whether by operation of law or otherwise) nor shall any such rights be subject to execution, attachment or similar
process. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of this Option or of such rights contrary
to the provisions hereof, or upon the levy of any attachment or similar process upon this Option or such rights, this Option and
such rights shall, at the election of the Company, become null, void and of no further force of effect.

 

5.No Right to Serve as Director. Nothing contained
in the Plan or this Agreement shall be construed or deemed by any Person under any circumstance to bind the Company to continue
to engage the Optionee as a Director of the Company for the period within which this Option may be exercised.

 

6.Rights as a Shareholder. The Optionee shall
have no rights as a shareholder with respect to any Underlying Shares unless and until the date on which the Optionee becomes the
holder of record of the Underlying Shares purchased pursuant to this Option on the books and records of the Company, as maintained
by the transfer agent for the Company’s Common Stock. No adjustment shall be made for dividends or other rights for which
the record date is prior to such date.

 

7.Adjustments.

 

(a) General. If: (i) the Company shall at any
time be involved in a merger or other transaction in which shares of Common Stock are changed or exchanged, (ii) the Company shall
subdivide or combine shares of Common Stock or the Company shall declare a dividend payable in shares of Common Stock, other securities
or other property, (iii) the Company shall effect a cash dividend the amount of which, on a per share of Common Stock basis, exceeds
10% of the Fair Market Value of a share of Common Stock at the time the dividend is declared, or the Company shall effect any other
dividend or other distribution on shares of Common Stock in the form of cash, or a repurchase of shares of Common Stock, that the
Board determines by resolution is special or extraordinary in nature or that is in connection with a transaction that the Company
characterizes publicly as a recapitalization or reorganization involving shares of Common Stock, or (iv) any other event shall
occur, which in the judgment of the Board or Committee necessitates an adjustment to prevent dilution or enlargement of the benefits
or potential benefits intended to be made available under the Plan, then the Committee shall, in such manner as it may deem equitable
to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, adjust as
applicable: (y) the number and kind of shares or other securities subject to this Option and (z) the Exercise Price for each share
of Common Stock or other security subject to this Option, without changing the aggregate Exercise Price as to which this Option
remains exercisable.

 

    	 

    	 

    

 

(b)Board Authority to Make Adjustments. Adjustments
under this Section 7 will be made by the Committee, whose determination as to what adjustments, if any, will be made and the extent
thereof will be final and binding. No fractional shares will be issued pursuant to this Option on account of any such adjustments.

 

(c) Limits on Adjustments. No adjustment shall
be made under this Section 7 which would, within the meaning of any applicable provision of the Code, constitute a modification,
extension or renewal of this Option or a grant of additional benefits to the Optionee.

 

8. Change of Control.

 

(a)General. In the event of a Change of Control,
the Optionee shall, with respect to this Option or any unexercised portion hereof, be entitled to the rights and benefits, and
be subject to the limitations, set forth in Section 15 of the Plan.

 

(b)Acceleration. In the event of a Change of
Control, the Vesting schedule set forth in Section 3(a) of this Agreement shall be accelerated such that this Option shall, immediately
prior to consummation of such Change of Control, become Vested and exercisable as to all Underlying Shares.

 

9. Withholding Taxes. The Company’s obligation
to deliver Underlying Shares upon the exercise of this Option shall be subject to the Optionee’s satisfaction of all applicable
Federal, state and local tax withholding requirements.

 

10. Miscellaneous.

 

(a) Except as provided herein, this Agreement may not
be amended or otherwise modified unless evidenced in writing and signed by the Company and the Optionee.

 

(b) All notices under this Agreement shall be mailed,
delivered by hand, or delivered by electronic means to the parties pursuant to the contact information for the applicable party
set forth in the records of the Administrative Service, or at such other address as may be designated in writing by either of the
parties to the other party.

 

(c) This Agreement shall be governed by and construed
in accordance with the laws of the State of Delaware.

 

(d)The Optionee hereby accepts, by signature or electronic
means delivered to the Administrative Service, this Option and agrees to the terms and conditions of this Agreement and the Company’s
2012 Equity Incentive Plan. The Optionee hereby acknowledges receipt of a copy of the Company’s 2012 Equity Incentive Plan.

 

    	 

    	 

    

 

Date of Grant:[_____________]

 

	 	GLOBAL EAGLE ENTERTAINMENT INC.
	 	 
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	EMPLOYEE
	 	 	 
	 	 	 
	 	 
	 	[________________]Exhibit 10.4

 

GLOBAL EAGLE ENTERTAINMENT INC.

 

STOCK RESTRICTION AGREEMENT

 

This Agreement (the
“Agreement”) is made this the [_____] day of [_______], 20[__], by and between Global Eagle Entertainment Inc.
(the “Company”), a Delaware corporation with its principal place of business at [10900 Wilshire Blvd. Suite 1500, Los
Angeles, California 90024] and [______________], an individual having an address at [________________________________] (the “Stockholder”).
Capitalized terms used by not otherwise defined herein shall have the meaning ascribed to such terms in the Company’s 2012
Equity Incentive Plan (the “Plan”). To the extent that any term of this Agreement conflicts or is otherwise inconsistent
with any term of the Plan, as amended from time to time, the terms of the Plan shall take precedence and supersede any such conflict
or inconsistent term contained herein.

 

WHEREAS, pursuant to
the Plan, the Company desires to sell to the Stockholder, and the Stockholder desires to purchase [______] shares (the “Shares”)
of Common Stock, par value $0.0001 per share, of the Company (the “Common Stock”); and

 

WHEREAS, as a condition
to the purchase and sale of the shares, the parties have agreed that the Shares shall be subject to a stock restriction agreement
containing the terms and conditions herein;

 

NOW, THEREFORE, for
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and the Stockholder agree as follows:

 

1.Shares to
be Subject to Restriction. The Stockholder agrees that the Shares shall be subject to the Purchase Option (as defined below)
set forth in Section 2 of this Agreement, to the restrictions on transfers set forth in Section 4 of this Agreement, and to any
additional provisions of the Plan applicable to such Shares during the Restriction Period.

 

2.Purchase Option.
If the Stockholder ceases to be an executive officer, employee, or Director of, or a Consultant to, the Company for any reason
or no reason, with or without cause, at any time prior to [___________] (the “Triggering Event”), the Company or its
assignee (to the extent permissible under applicable securities laws) shall have the right and option (the “Purchase Option”)
to purchase from the Stockholder, at a price of $[_________] per share (the “Option Price”), the following number of
Shares: [Repurchase schedule to be specified by the Compensation Committee of the Board of Directors.]

 

Notwithstanding the foregoing provisions
of this Section 2, in the event of a Change of Control during the Restriction Period, the vesting schedule set forth in this Section
2 may be accelerated in whole or in part at the sole discretion of the Committee.

 

3.Exercise of
Purchase Option, Closing and Payment for Shares.

 

(a)The Company may
exercise the Purchase Option by delivering or mailing to the Stockholder, in accordance with Section 11, written notice of exercise
within thirty (30) days after the Triggering Event together with a check in the amount of the aggregate Option Price with respect
to Shares purchase pursuant to the Purchase Option. The notice must specify the number of Shares to be purchased under the Purchase
Option. If and to the extent that the Purchase Option is not exercised, in whole or in part, within the thirty (30) day period,
the Purchase Option (or its unexercised part, as applicable) will automatically expire and terminate effective upon the expiration
of the thirty (30) day period.

 

    	 

    	 

    

 

(b)Promptly upon
delivery or mailing to the Stockholder of the written notice and aggregate Option Price as set forth in Section 3(a) above, the
Company shall cause to be cancelled on its books and records all Shares held by the Stockholder and subject to the exercise of
the Purchase Option by the Company.

 

(c)After the time
at which the Company delivers or mails to the Stockholder the written notice and aggregate Option Price as set forth in Section
3(a) above, the Company shall not pay any dividend to the Stockholder on account of the Shares subject to the Purchase Option so
exercised or permit the Stockholder to exercise any of the privileges or rights of a Stockholder with respect to such Shares, but
shall, in so far as permitted by law, treat the Company as the owner of such Shares.

 

(d)The Option Price
shall be payable in immediately available funds.

 

4.Restrictions
on Transfer. The Stockholder shall not, during the term of the Purchase Option, sell, assign, transfer, pledge, hypothecate
or otherwise dispose of, by operation of law or otherwise, any of the Shares, or any interest therein, unless and until such are
no longer subject to the Purchase Option.

 

5.Effect of
Prohibited Transfer. The Company will not be required (a) to transfer on its books any Shares which have been sold or transferred
in violation of any of the provisions set forth in this Agreement, or (b) to treat as owner of such Shares, or to pay dividends
to, any transferee to whom any such Shares have been so sold or transferred.

 

6.Restrictive
Legend. All certificates representing Shares subject to this Agreement shall bear a legend in substantially the following form,
in addition to any other legends that may be required under applicable federal or state securities laws:

 

  “The shares represented by this certificate are subject to an option to purchase and restrictions on transfer set forth in a certain Stock Restriction Agreement between the corporation and the registered owner of this certificate, a copy of which is available for inspection at the offices of the Secretary of the corporation.”

 

7.Adjustments
for Stock Splits, Stock Dividends, etc. Subject to the provisions of Section 15 of the Plan, if from time to time during the
term of the Purchase Option there is any stock split-up, stock dividend, stock distribution or other reclassification of the Common
Stock of the Company, any and all new, substituted or additional securities to which the Stockholder is entitled by reason of its
ownership of the Shares will be immediately subject to the Purchase Option, the restrictions on transfer and the other provisions
of this Agreement in the same manner and to the same extent as the Shares, and the respective option prices shall be appropriately
adjusted.

 

    	 

    	 

    

 

8.Severability.
The invalidity or unenforceability of any provision of this Agreement will not affect the validity or enforceability of any other
provision of this Agreement and each other provision of this Agreement will be severable and enforceable to the extent permitted
by law.

 

9.Binding Effect.
This Agreement is binding upon and shall inure to the benefit of the Company and the Stockholder and their respective heirs, executors,
administrators, legal representatives, successors and assigns, as applicable, subject to the restrictions on transfer set forth
in Section 4 herein.

 

10.No Rights
to Employment. Nothing contained in this Agreement is to be construed as giving the Stockholder any right to be retained, in
any position, as an employee of the Company.

 

11.Notice.
All notices required or permitted hereunder must be in writing and are deemed effectively given upon personal delivery or upon
deposit in the United States Post Office, by registered or certified mail, postage prepaid, addressed to the other party to this
Agreement at the address shown above, or at such other address as one party will designate to the other in accordance with this
Section 11.

 

12.Pronouns.
Whenever the context may require, any pronouns used in this Agreement are deemed to include the corresponding masculine, feminine
or neuter forms, and the singular form of nouns and pronouns are deemed to include the plural, and vice versa.

 

13.Entire Agreement.
This Agreement constitutes the entire agreement between the parties, and supersedes all prior agreements and understandings, relating
to the subject matter of this Agreement.

 

14.Amendment.
This Agreement may be amended or modified only by a written instrument executed by both the Company and the Stockholder.

 

15.Governing
Law. This Agreement shall be construed and enforced in accordance with and governed by the General Corporation Law of the State
of Delaware as to matters within the scope thereof, and as to all other matters shall be governed by and construed in accordance
with the internal laws of the State of Delaware, without giving effect to the principles of conflicts of laws thereof.

 

[Next Page is Signature Page]

 

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the day and year first above written.

 

	 	GLOBAL EAGLE ENTERTAINMENT INC.
	 	 
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	STOCKHOLDER
	 	 	 
	 	 	 
	 	 
	 	[________________]

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