Document:

Exhibit 10.6 

 

PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT

 

THIS PRIVATE PLACEMENT WARRANTS PURCHASE
AGREEMENT (as it may be amended from time to time and including all exhibits referenced herein, this “Agreement”),
dated as of [ • ], 2021, is entered into by and between Group Nine Acquisition Corp., a Delaware corporation
(the “Company”), and Group Nine SPAC LLC, a Delaware limited liability company (the “Purchaser”).

 

WHEREAS, the Company intends to consummate
an initial public offering of the Company’s units (the “Public Offering”), each unit consisting
of one share of Class A common stock of the Company, par value $0.0001 per share (each, a “Share”),
and one-third of one redeemable warrant, each whole warrant entitling the holder to purchase one Share at an exercise price of
$11.50 per Share (subject to adjustment), as set forth in the Company’s Registration Statement on Form S-1, filed with the
U.S. Securities and Exchange Commission (the “SEC”), File Number 333-[ • ] (the
 “Registration Statement”), under the Securities Act of 1933, as amended (the “Securities
Act”); and

 

WHEREAS, the Purchaser has agreed to purchase,
at a price of $1.50 per warrant, an aggregate of 2,600,000 warrants (and up to 240,000 additional warrants if the underwriters
in the Public Offering exercise their over-allotment option in full) (the “Private Placement Warrants”),
each Private Placement Warrant entitling the holder to purchase one Share at an exercise price of $11.50 per Share (subject to
adjustment).

 

NOW THEREFORE, in consideration of the mutual
promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:

 

AGREEMENT

 

Section 1.              
Authorization, Purchase and Sale; Terms of the Private Placement
Warrants.

 

A.            
Authorization of the Private Placement Warrants. The Company has duly authorized the issuance and sale of the Private
Placement Warrants to the Purchaser.

 

B.            
Purchase and Sale of the Private Placement Warrants.

 

(i)                 On
the date of the consummation of the Public Offering, and concurrently with the consummation thereof, or on such earlier time
and date as may be mutually agreed by the Purchaser and the Company (the “IPO Closing Date”), the
Company shall issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, 2,600,000 Private Placement
Warrants at a price of $1.50 per warrant for an aggregate purchase price of $3,900,000 (the “Purchase
Price”).  The Purchaser shall pay, at least one (1) business day prior to the IPO Closing Date, the
Purchase Price by wire transfer of immediately available funds, consisting of (i) $2,400,000 to the trust account, at a
financial institution to be chosen by the Company, maintained by Continental Stock Transfer & Trust Company, acting as
trustee, in accordance with the Company’s wiring instructions (the “Trust Account”), and (ii)
$1,500,000 to, or on behalf of, the Company in accordance with the Company’s wiring instructions.  On the IPO
Closing Date, upon payment by the Purchaser of the Purchase Price, the Company, at its option, shall deliver a certificate
evidencing the Private Placement Warrants purchased by the Purchaser on such date duly registered in the Purchaser’s
name to the Purchaser or effect such delivery in book-entry form.

 

     

     

    

 

(ii)             
On the date of the consummation of the closing of any over-allotment option in connection with the Public Offering, and
concurrently with the consummation thereof, or on such earlier time and date as may be mutually agreed by the Purchaser and the
Company (each such date, an “Over-allotment Closing Date,” and each Over-allotment Closing Date (if any)
and the IPO Closing Date, a “Closing Date”), the Company shall issue and sell to the Purchaser, and the
Purchaser shall purchase from the Company, up to 240,000 Private Placement Warrants (or, to the extent the over-allotment option
is not exercised in full, a lesser number of Private Placement Warrants in proportion to the portion of the over-allotment option
that is then exercised) at a price of $1.50 per warrant for an aggregate purchase price of up to $360,000 (if the over-allotment
option is exercised in full) (the “Over-allotment Purchase Price”).  The Purchaser shall pay the
Over-allotment Purchase Price in accordance with the Company’s wire instruction by wire transfer of immediately available
funds to the Company or the Trust Account (as set forth in the wire instructions), at least one (1) business day prior to the Over-allotment
Closing Date.  On each Over-allotment Closing Date, upon payment by the Purchaser of the Over-allotment Purchase Price payable
by it, the Company shall, at its option, deliver a certificate evidencing the Private Placement Warrants purchased by the Purchaser
on such Closing Date duly registered in the Purchaser’s name to the Purchaser or effect such delivery in book-entry form.

 

C.            
Terms of the Private Placement Warrants.

 

(i)               
Each Private Placement Warrant shall have the terms set forth in a Warrant Agreement to be entered into by the Company and
a warrant agent in connection with the Public Offering (the “Warrant Agreement”), and shall be subject
to the terms of a letter agreement to be entered into by the Company, the Purchaser and the other parties thereto, in connection
with the Public Offering.

 

(ii)             
On or prior to the IPO Closing Date, the Company and the Purchaser shall enter into a registration rights agreement (the
 “Registration Rights Agreement”) pursuant to which the Company will grant certain registration rights
to the Purchaser relating to the Private Placement Warrants and the Shares underlying the Private Placement Warrants.

 

Section 2.              
Representations and Warranties of the Company.

 

As a material inducement to the Purchaser
to enter into this Agreement and purchase the Private Placement Warrants, the Company hereby represents and warrants to the Purchaser
(which representations and warranties shall survive each Closing Date) that:

 

A.             Incorporation
and Corporate Power.  The Company is a corporation duly incorporated, validly existing and in good standing under
the laws of the State of Delaware and is qualified to do business in every jurisdiction in which the failure to so qualify
would reasonably be expected to have a material adverse effect on the financial condition, operating results or assets of the
Company.  The Company possesses all requisite corporate power and authority necessary to carry out the transactions
contemplated by this Agreement and the Warrant Agreement.

 

    2

     

    

 

B.            
Authorization; No Breach.

 

(i)              
The execution, delivery and performance of this Agreement and the Private Placement Warrants have been duly authorized by
the Company as of each Closing Date.  This Agreement constitutes a valid and binding obligation of the Company, enforceable
against the Company in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium
and other laws of general applicability relating to or affecting creditors’ rights and to general equitable principles (whether
considered in a proceeding in equity or law).  Upon issuance in accordance with, and payment pursuant to, the terms of the
Warrant Agreement and this Agreement, the Private Placement Warrants will constitute valid and binding obligations of the Company,
enforceable against the Company in accordance with their terms as of the applicable Closing Date.

 

(ii)             
The execution and delivery by the Company of this Agreement and the Private Placement Warrants, the issuance and sale of
the Private Placement Warrants, the issuance of the Shares upon exercise of the Private Placement Warrants and the fulfillment
of and compliance with the respective terms hereof and thereof by the Company, do not and will not as of each Closing Date (a)
(A) conflict with or result in a breach of the terms, conditions or provisions of, (B) constitute a default under, (C) result in
the creation of any lien, security interest, charge or encumbrance upon the Company’s capital stock or assets under or (D)
result in a violation of, the certificate of incorporation or the bylaws of the Company (in effect on the date hereof or as may
be amended prior to the applicable Closing Date) or any material law, statute, rule or regulation to which the Company is subject,
or any agreement, order, judgment or decree to which the Company is subject, or (b) require any authorization, consent, approval,
exemption or other action by or notice or declaration to, or filing with, any court or administrative or governmental body or agency,
except for any filings required after the date hereof under federal or state securities laws.

 

C.                
Title to Securities.  Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant
Agreement, the Private Placement Warrants will be duly and validly issued and the Shares issuable upon exercise of the Private
Placement Warrants will be duly and validly issued, fully paid and nonassessable.  On the date of issuance of the Private
Placement Warrants, the Shares issuable upon exercise of the Private Placement Warrants shall have been reserved for issuance. 
Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Purchaser will have
good title to the Private Placement Warrants purchased by it and the Shares issuable upon exercise of such Private Placement Warrants,
free and clear of all liens, claims and encumbrances of any kind, other than (i) transfer restrictions hereunder and under the
other agreements contemplated hereby, (ii) transfer restrictions under federal and state securities laws, and (iii) liens, claims
or encumbrances imposed due to the actions of the Purchaser.

 

    3

     

    

 

Section 3.              
Representations and Warranties of the Purchaser.

 

As a material inducement to the Company
to enter into this Agreement and issue and sell the Private Placement Warrants to the Purchaser, the Purchaser hereby represents
and warrants to the Company (which representations and warranties shall survive each Closing Date) that:

 

A.            
Organization and Requisite Authority.  The Purchaser possesses all requisite power and authority necessary to
carry out the transactions contemplated by this Agreement.

 

B.             
Authorization; No Breach.

 

(i)              
This Agreement constitutes a valid and binding obligation of the Purchaser, enforceable against the Purchaser in accordance
with its terms, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general
applicability relating to or affecting creditors’ rights and to general equitable principles (whether considered in a proceeding
in equity or law).

 

(ii)             
The execution and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof
by the Purchaser does not and shall not as of each Closing Date (a) (A) conflict with or result in a breach by the Purchaser of
the terms, conditions or provisions of, (B) constitute a default under, (C) result in the creation of any lien, security interest,
charge or encumbrance upon the Purchaser’s equity or assets under or (D) result in a violation of, the Purchaser’s
organizational documents (in effect on the date hereof or as may be amended prior to the applicable Closing Date), or any material
law, statute, rule or regulation to which the Purchaser is subject, or any agreement, instrument, order, judgment or decree to
which the Purchaser is subject, or (b) require any authorization, consent, approval, exemption or other action by or notice or
declaration to, or filing with, any court or administrative or governmental body or agency, except for any filings required after
the date hereof under federal or state securities laws.

 

C.             
Investment Representations.

 

(i)              
The Purchaser is acquiring the Private Placement Warrants and, upon exercise of the Private Placement Warrants, the Shares
issuable upon such exercise (collectively, the “Securities”) for its own account, for investment purposes
only and not with a view towards, or for resale in connection with, any public sale or distribution thereof.

 

(ii)             
The Purchaser understands that the Securities are being offered and will be sold to it in reliance on specific exemptions
from the registration requirements of the United States federal and state securities laws and that the Company is relying upon
the truth and accuracy of, and the Purchaser’s compliance with, the representations and warranties of the Purchaser set forth
herein in order to determine the availability of such exemptions and the eligibility of the Purchaser to acquire such Securities.

 

(iii)            
The Purchaser did not decide to enter into this Agreement as a result of any general solicitation or general advertising
within the meaning of Rule 502(c) under the Securities Act.

 

    4

     

    

 

(iv)    
          The Purchaser understands that no United States federal or state agency or
any other government or governmental agency has passed on or made any recommendation or endorsement of the Securities or the
fairness or suitability of the investment in the Securities by the Purchaser nor have such authorities passed upon or
endorsed the merits of the offering of the Securities.

 

(v)              
The Purchaser has been furnished with all materials relating to the business, finances and operations of the Company and
materials relating to the offer and sale of the Securities which have been requested by the Purchaser. The Purchaser has been afforded
the opportunity to ask questions of the executive officers and directors of the Company. The Purchaser understands that its investment
in the Securities involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary
to make an informed investment decision with respect to the acquisition of the Securities.

 

(vi)            
The Purchaser understands that: (a) the Securities have not been and are not being registered under the Securities Act or
any state securities laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder
or (2) sold in reliance on an exemption therefrom; and (b) except as specifically set forth in the Registration Rights Agreement,
neither the Company nor any other person is under any obligation to register the Securities under the Securities Act or any state
securities laws or to comply with the terms and conditions of any exemption thereunder. In this regard, the Purchaser understands
that the SEC has taken the position that promoters or affiliates of a blank check company and their transferees, both before and
after an initial business combination, are deemed to be “underwriters” under the Securities Act when reselling the
securities of a blank check company. Based on that position, Rule 144 adopted pursuant to the Securities Act would not be available
for resale transactions of the Securities despite technical compliance with the requirements of such Rule, and the Securities can
be resold only through a registered offering or in reliance upon another exemption from the registration requirements of the Securities
Act.

 

(vii)           
The Purchaser has such knowledge and experience in financial and business matters, knowledge of the high degree of risk
associated with investments in the securities of companies in the development stage such as the Company, is capable of evaluating
the merits and risks of an investment in the Securities and is able to bear the economic risk of an investment in the Securities
in the amount contemplated hereunder for an indefinite period of time.  The Purchaser has adequate means of providing for
its current financial needs and contingencies and will have no current or anticipated future needs for liquidity which would be
jeopardized by the investment in the Securities.  The Purchaser can afford a complete loss of its investments in the Securities.

 

(viii)          
The Purchaser acknowledges and agrees that the Private Placement Warrants will bear a legend substantially in the form set
forth in the Warrant Agreement.

 

(ix)             
The Purchaser is an “accredited investor” as such term is defined in Rule 501(a)(3) of Regulation D under
the Securities Act and the Purchaser has not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation
D under the Securities Act.

 

    5

     

    

 

Section 4.              
Conditions of the Purchaser’s Obligations.

 

The obligations of the Purchaser to purchase
and pay for the Private Placement Warrants are subject to the fulfillment, on or before each Closing Date, of each of the following
conditions:

 

A.           
Representations and Warranties.  The representations and warranties of the Company contained in Section 2 shall
be true and correct at and as of such Closing Date as though then made.

 

B.            
Performance.  The Company shall have performed and complied with all agreements, obligations and conditions
contained in this Agreement that are required to be performed or complied with by it on or before such Closing Date.

 

C.            
No Injunction.  No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall
have been enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any
self-regulatory organization having authority over the matters contemplated hereby, which prohibits the consummation of any of
the transactions contemplated by this Agreement or the Warrant Agreement.

 

D.           
Warrant Agreement and Registration Rights Agreement.  The Company shall have entered into the Warrant Agreement
and the Registration Rights Agreement, each on terms satisfactory to the Purchaser.

 

E.            
Corporate Consents. The Company shall have obtained the consent of its Board of Directors authorizing the execution,
delivery and performance of this Agreement and the Warrant Agreement and the issuance and sale of the Private Placement Warrants
hereunder.

 

Section 5.              
Conditions of the Company’s Obligations.

 

The obligations of the Company to the Purchaser
under this Agreement are subject to the fulfillment, on or before each Closing Date, of each of the following conditions:

 

A.           
Representations and Warranties.  The representations and warranties of the Purchaser contained in Section 3
shall be true and correct at and as of such Closing Date as though then made.

 

B.            
Performance.  The Purchaser shall have performed and complied with all agreements, obligations and conditions
contained in this Agreement that are required to be performed or complied with by the Purchaser on or before such Closing Date.

 

C.            
Corporate Consents.  The Company shall have obtained the consent of its Board of Directors authorizing the execution,
delivery and performance of this Agreement and the Warrant Agreement and the issuance and sale of the Private Placement Warrants
hereunder.

 

D.             No
Injunction.  No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been
enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any
self-regulatory organization having authority over the matters contemplated hereby, which prohibits the consummation of any
of the transactions contemplated by this Agreement or the Warrant Agreement.

 

    6

     

    

 

E.            
Warrant Agreement and Registration Rights Agreement.  The Company shall have entered into the Warrant Agreement
on terms satisfactory to the Company.

 

Section 6.              
Termination.

 

This Agreement may be terminated by the
Company or the Purchaser at any time after [ • ], 2021, upon written notice to the other party hereto if
the IPO Closing Date does not occur prior to such date.

 

Section 7.              
Survival of Representations and Warranties.

 

All of the representations and warranties
contained herein shall survive each Closing Date.

 

Section 8.              
Definitions.

 

Terms used but not otherwise defined in
this Agreement shall have the meaning assigned to such terms in the Registration Statement.

 

Section 9.              
Miscellaneous.

 

A.            
Successors and Assigns.  Except as otherwise expressly provided herein, all covenants and agreements contained
in this Agreement by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors
of the parties hereto whether so expressed or not.  Notwithstanding the foregoing or anything to the contrary herein, the
parties may not assign this Agreement without the prior written consent of the other party hereto, other than assignments by the
Purchaser to affiliates thereof (including, without limitation one or more of its members).

 

B.             
Severability.  Whenever possible, each provision of this Agreement shall be interpreted in such manner as to
be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under
applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating
the remainder of this Agreement.

 

C.              Counterparts. 
This Agreement may be executed in counterparts, each of which when so executed shall be deemed to be an original and all of
which when taken together shall constitute one and the same instrument. The words “execution,”
 “signed,” “signature,” and words of like import in this Agreement or in any other certificate,
agreement or document related to this Agreement shall include images of manually executed signatures transmitted by facsimile
or other electronic format (including, without limitation, “pdf,” “tif” or “jpg”) and
other electronic signatures (including, without limitation, DocuSign and AdobeSign). The use of electronic signatures and
electronic records (including, without limitation, any contract or other record created, generated, sent, communicated,
received, or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually
executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law, including
the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records
Act and any other applicable law, including, without limitation, any state law based on the Uniform Electronic Transactions
Act or the Uniform Commercial Code.

 

    7

     

    

 

D.            
Descriptive Headings; Interpretation.  The descriptive headings of this Agreement are inserted for convenience
only and do not constitute a substantive part of this Agreement.  The use of the word “including” in this Agreement
shall be by way of example rather than by limitation.

 

E.             
Governing Law.  This Agreement shall be deemed to be a contract made under the laws of the State of New York
and for all purposes shall be construed in accordance with the internal laws of the State of New York, without giving effect to
conflicts of law principles that would result in the application of the laws of another jurisdiction.

 

F.              
Amendments.  This Agreement may not be amended, modified or waived as to any particular provision, except by
a written instrument executed by the parties hereto.

 

[Signature
page follows]

 

    8

     

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement.

 

	 	COMPANY:  
	 	 
	 	GROUP NINE ACQUISITION CORP.
	 	 
	 	By:  	                        
	 	Name: Sean Macnew
	 	Title: Chief Financial Officer
	 	 
	 	PURCHASER:
	 	GROUP NINE SPAC LLC
	 	 
	 	By:	 
	 	Name: Sean Macnew
	 	Title: Chief Financial Officer

 

[Signature Page
to Private Placement Warrants Agreement]Document

Exhibit 10.1
ARCONIC CORPORATION

NON-EMPLOYEE DIRECTOR COMPENSATION POLICY
Effective April 1, 2020, as Amended Effective December 31, 2020
1.General. This Non-Employee Director Compensation Policy (the "Policy"), sets forth the cash and equity-based compensation that has been approved by the board of directors (the “Board”) of Arconic Corporation, a Delaware corporation, (the "Company") as payable to eligible non-employee members of the Board. The cash and equity-based compensation described in this Policy shall be paid or be made, as applicable, automatically and without further action of the Board, to each Non-Employee  Director who may be eligible  to receive such compensation. This Policy shall remain in effect until it is revised or rescinded by further action of the Board. 
2.Cash Compensation.
(a)Annual Retainers. Each Non-Employee Director shall be eligible to receive an annual cash retainer of $120,000 for service on the Board. In addition, subject to paragraph 2(b) below, a Non-Employee Director shall receive the following additional annual retainers, as applicable:
						
	Non-Employee Director Position	Additional Annual Cash Retainer Fee
	Chairman of the Board	$130,000
	Lead Director	$30,000
	Audit Committee Chair Fee (includes Audit Committee
Member Fee)
	$20,000
	Compensation and Benefits Committee Chair Fee	$15,000
	Other Committee Chair Fee

	$15,000

(b)Payment of Chair Fees. At any one time, each non-Employee Director may receive only one additional annual retainer fee in connection with service as the Chair of a committee (whether in the position of Lead Director, Audit Committee Chair, Compensation and Benefits Committee Chair or Other Committee Chair), regardless of how many committee Chair positions held by such director. For the avoidance of doubt, a non-Employee Director may simultaneously serve as the Chair of more than one committee, but will receive for such service only one additional annual retainer fee, equal to the highest of the additional annual retainer fees associated with his or her Chair positions.
    
			
	© Arconic Corporation                                                        Page 1 of 4

(c)Payment of Retainers. The annual retainers described in Section 2(a) shall be earned on a quarterly basis based on a calendar quarter and shall be paid by the Company in arrears not later than the third business day following the end of each calendar quarter (if not deferred by the Non-Employee Director in accordance with subsection (e) hereof). In the event a Non-Employee  Director does not serve as a Non-Employee Director, or in the applicable positions described in Section 2(a), for an entire calendar quarter, the retainer paid to such Non-Employee Director shall be prorated for the portion of such calendar quarter actually  served as a Non-Employee Director, or in such positions,  as applicable.
(d)Exceptional  Meeting  Fees. A fee of $1,200 shall be paid to a Non-Employee  Director  for each Board or committee meeting attended by such Non-Employee Director in excess of five (5) special Board or committee meetings during the applicable calendar year and applies only to any non-regularly scheduled meeting in excess of a two-hour duration. Such exceptional meeting fees shall be paid by the Company in arrears not later than the third business day following the end of the calendar quarter in which any such exceptional meeting occurs (if not deferred by the Non-Employee Director in accordance with subsection (e) hereof).
(e)Deferral of Retainers. Non-Employee Directors may elect to defer payment of all or a portion  of the annual retainers described in Section 2(a) and the exceptional meeting fees described in Section 2(d) into specified investment funds and/or into vested restricted share units for shares of the Company's common stock until separation from service, which deferral will be made pursuant to the terms of the Company's 2020  Deferred Fee Plan for Directors, as amended from time to time, or its successor plan (the "Deferred Fee Plan"). Unless otherwise determined by the Board, any restricted share units will be granted under the Arconic Corporation 2020 Stock Incentive Plan, as amended from time to time, or its successor plan (the "Equity Plan"), on the date on which such retainer(s) or meeting fees would otherwise have been paid in cash. The extent to which a Non-Employee Director may defer annual retainer payments or meeting fees into vested restricted share units will therefore be subject to any limit on awards granted to a Non-Employee Director set forth in the Equity Plan. For purposes of this Section 2(e), the number of shares subject to any restricted share unit award will be determined by dividing the amount of the applicable retainer(s) or cash fees deferred by a Non-Employee Director by the Fair Market Value (as defined in the Equity Plan) of a share of the Company's common stock on the date the retainer(s) or cash fees would otherwise have been paid in cash, rounded down to the nearest whole number.  
3.Equity Compensation. Non-Employee Directors shall be granted the equity awards described below. The awards described below in Sections 3(a) and 3(b) shall be granted under and shall be subject to the terms and provisions of the Equity Plan and shall be granted subject to an award agreement in substantially the same form approved by the Board prior to or as of the grant date, setting forth the terms of the award (the "Award Terms"), consistent with the Equity Plan. For purposes of this Section 3, the number of shares subject to any restricted share unit award will be determined by dividing the grant date dollar value specified under subsection (a) or (b) hereof by the Fair Market Value (as defined in the Equity Plan) of a share of the Company's common stock on the date of grant, rounded to the nearest whole number. 
    
			
	© Arconic Corporation                                                        Page 2 of 4

(a)Annual Equity Award. A person who is a Non-Employee Director immediately following each annual meeting of the Company's stockholders and who will continue to serve as a Non-Employee Director following such annual meeting shall be automatically granted on the second market trading day following the date of each such annual meeting a restricted share unit award with a grant date value equal to $150,000 (the "Annual Equity Award"). The Annual Equity Award shall vest on the earlier of the first anniversary date of the grant date or the date of the Company's next subsequent annual meeting of stockholders following the grant date.
(b)Pro-Rated Annual Equity Award. On the fifth market trading day following a person's initial appointment  as a Non-Employee  Director, and provided such person has not otherwise received an Annual Equity Award for the relevant year under Section 3(a), the Non-Employee Director shall be automatically granted a restricted share unit award with a grant date value equal to $150,000, in each case multiplied by a fraction, the numerator of which is 365 less the number of days that have elapsed since the date of the Company's last annual meeting of stockholders (or if an annual stockholder meeting has yet to be held by the Company, then April 1, 2020) and the Non-Employee Director's date of initial appointment, and the denominator of which is 365 (the "Pro-Rated Award").  The Pro-Rated Award shall vest on the date of the Company's next subsequent annual meeting of stockholders following the date of the Non-Employee Director's appointment to the Board.
(c)Special Vesting of Equity Awards. Notwithstanding Sections 3(a) or (b) above and as shall be further set forth in the Award Terms: (i) unvested equity awards shall vest in full upon the death of a Non-Employee Director or upon a Change in Control where a Replacement Award is not provided or the Non-Employee Director’s service is terminated (where Change in Control and Replacement Award  are as defined in the Equity Plan); and (ii) unvested equity awards shall vest on a pro-rata basis in the event of a Non-Employee  Director's termination of service for any other reason.
(d)Deferral of Equity Award. Non-employee Directors may elect to defer all or a portion of the Annual Equity Award or any Pro-Rated Award until the Non-Employee Director's separation from service, in accordance with the terms of the Deferred Fee Plan, unless otherwise required by applicable laws.  In the event that a Non-employee Director fails to make an election with respect to a particular year, his or her Annual Equity Award and any Pro-Rated Award will be paid upon vesting in accordance with its terms, and will not be deferred.
4.Stock Ownership Guideline. Non-Employee Directors shall be subject to the Arconic Corporation Stock Ownership and Equity Retention Policy.
5.Director Compensation Limit. As further set forth in the Equity Plan, the sum of the grant date value of all equity awards granted and all cash compensation paid by the Company to a Non-Employee  Director  as compensation for services as a Non-Employee Director shall not exceed $750,000 during any calendar year. For avoidance of doubt, compensation shall count towards this limit for the calendar year in which it is granted or earned, and not later when distributed, in the event it is deferred.
    
			
	© Arconic Corporation                                                        Page 3 of 4

6.Policy Subject to Amendment, Modification and Termination. This Policy may be amended, modified or terminated by the Board in the future at its sole discretion, provided that no such action that would materially and adversely impact the rights with respect to annual retainers payable in the calendar quarter during which a Non-Employee Director is then performing  services shall be effective without the consent of the affected Non-Employee Director.

    
			
	© Arconic Corporation                                                        Page 4 of 4

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