Document:

EX-10.3

 Exhibit 10.3 

RESTRICTED STOCK UNIT AWARD AGREEMENT 

RigNet, Inc. Omnibus Incentive Plan 

This RESTRICTED STOCK UNIT AWARD AGREEMENT (this “Agreement”) is made by and between RigNet, Inc. a Delaware
corporation (the “Company”), and the Holder effective as of the Grant Date pursuant to the RigNet, Inc. Omnibus Incentive Plan (the “Plan”), a copy of which previously has been made available to
the Holder and the terms and provisions of which are incorporated by reference herein. The Company hereby grants to the Holder the Restricted Stock Units specified herein (the “RSUs”): 

 

					
		 	Holder:	  	_###PARTICIPANT_NAME###__
			
		 	Grant Date:	  	_###GRANT_DATE###________
			
	                    	 	Number of RSUs:	  	_###TOTAL_AWARDS###_____
			
		 	Vesting Schedule	  	The RSUs that are granted hereby shall be subject to the Forfeiture Restrictions during the Period of Restriction. The Forfeiture Restrictions shall lapse as to the RSUs that are awarded hereby in accordance with the following
schedule, provided that the Holder’s employment with the Company and its Affiliates has not terminated prior to the applicable lapse date:
			
		 		  	###VEST_SCHEDULE_TABLE###

  

	1.	 Definitions. For purposes of this Agreement, the following terms shall have
the meanings indicated below: 

  

	 	a.	 “Cause” is defined as any of the following: (i) the Holder’s plea of guilty
or nolo contendere, or conviction of a felony or a misdemeanor involving moral turpitude; (ii) any act by the Holder of fraud or dishonesty with respect to any aspect of the Company’s business including, but not limited to, falsification
of Company records; (iii) the Holder’s failure to perform his duties (other than by reason of Disability); (iv) the Holder’s engagement in misconduct that is materially injurious to the Company (monetarily or otherwise);
(v) the Holder’s breach of any confidentiality, noncompetition or non-solicitation obligations to the Company, including but not limited to engagement in Detrimental Activity; (vi) the
Holder’s commencement of employment with an unrelated employer; (vii) material violation by the Holder of any of the Company’s written policies, including but not limited to any harassment and/or
non-discrimination policies; or (viii) the Holder’s gross negligence in the performance of his or her duties. 

 

	 	b.	 “Confidential Information” means material of a secret or confidential nature relating
to the business, products, or services of the Company or any Affiliate acquired by the Holder during employment with the Company or any Affiliate. “Confidential Information” excludes any information readily available to members of the
general public. 

  
 - 1 - 

	 	c.	 “Detrimental Activity” shall include, unless otherwise modified by the Company in
connection with a Change in Control: (i) rendering services for any person or organization, or engaging directly or indirectly in any business, which is or becomes competitive with the Company or any Affiliate; (ii) disclosing to anyone
outside the Company or any Affiliate, other than the Company’s or any Affiliate’s business, without prior written authorization from the Company or any Affiliate, any Confidential Information; (iii) soliciting, interfering, inducing,
or attempting to cause any employee of the Company or any Affiliate to leave his or her employment, whether done on the Holder’s own account or on account of any person, organization, or business which is or becomes competitive with the Company
or any Affiliate; or (iv) directly or indirectly soliciting the trade or business of any customer of the Company or any Affiliate. 

  

	 	d.	 “Forfeiture Restrictions” shall mean the prohibitions and restrictions set forth herein
with respect to the sale or other disposition of the RSUs issued to the Holder hereunder and the obligation to forfeit and surrender such RSUs to the Company. 

 

	 	e.	 “Good Reason” means the occurrence of any of the following without the Holder’s
prior written consent: (i) a material adverse change in the Holder’s position, authority, duties or responsibilities, excluding a change in reporting relationships; (ii) a material reduction in the Holder’s base salary;
(iii) a material diminution of the Holder’s employee benefits (including but not limited to medical, dental, life insurance and long-term disability plans); or (iv) the relocation of the Holder’s principal place of employment by
more than 50 miles from such location as of the Grant Date. Notwithstanding the foregoing, a “Good Reason” shall not exist unless the Holder notifies the Company of the existence of the condition described in this Section 1(c) within
ninety (90) days of the initial existence of the condition and the Company does not remedy the condition within thirty (30) days following receipt of such notice. 

 

	 	f.	 “Period of Restriction” shall mean the period during which RSUs are subject to
Forfeiture Restrictions. 

 Capitalized terms not otherwise defined in this Agreement shall have the meanings given to such
terms in the Plan. 
  

	2.	 Transfer Restrictions. The RSUs granted hereby may not be sold, assigned, pledged,
exchanged, hypothecated or otherwise transferred, encumbered or disposed of. Any such attempted sale, assignment, pledge, exchange, hypothecation, transfer, encumbrance or disposition in violation of this Agreement shall be void and the Company
shall not be bound thereby. Further, any shares of the Stock granted hereby upon vesting of the RSUs (the “Shares”) may not be sold or otherwise disposed of in any manner that would constitute a violation of any applicable
securities laws. The Holder also agrees that the Company may (a) refuse to cause the transfer of the Shares to be registered on the applicable stock transfer records of the Company if such proposed transfer would, in the opinion of counsel
satisfactory to the Company, constitute a violation of any applicable securities law; and (b) give related instructions to the transfer agent, if any, to stop registration of the transfer of the Shares. The Shares are registered with the
Securities and Exchange Commission under a Registration Statement on Form S-8. A Prospectus describing the Plan and the Shares is available from the Company. 

  
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	3.	 Vesting. 

 

	 	a.	 Forfeiture. If the Holder ceases to be employed by the Company or an Affiliate for any
reason before the applicable lapse date, other than in accordance with subsections (b) and (c) below, the Forfeiture Restrictions then applicable to the RSUs shall not lapse and all the RSUs then subject to the Forfeiture Restrictions shall be
forfeited to the Company on the date the Holder ceases to be employed by the Company or an Affiliate. If the Holder breaches, before the applicable lapse date, any non-competition, confidentiality, restrictive
covenant or other similar agreement with the Company to which the Holder is subject, the Forfeiture Restrictions then applicable to the RSUs shall not lapse and all the RSUs then subject to the Forfeiture Restrictions shall be forfeited to the
Company on the date the Holder breaches such agreement or covenant. 

  

	 	b.	 Death or Disability. If the Holder’s employment terminates due to death or
Disability, all unvested RSUs shall automatically become 100% vested on the Holder’s date of termination. 

  

	 	c.	 Change in Control. If a Change in Control occurs and the Holder’s employment is
terminated by the Company or an Affiliate without Cause or by the Holder for Good Reason, and the Holder’s date of termination occurs within twelve (12) months following the Change in Control, all unvested RSUs shall automatically become
100% vested on the Holder’s date of termination. 

  

	4.	 RSUs Do Not Award Any Rights of a Shareholder. The Holder shall not have the voting rights or any of the
other rights, powers or privileges of a holder of Stock with respect to the RSUs that are awarded hereby. Only after a share is issued in exchange for an RSU will the Holder have all of the rights of a shareholder with respect to such share of Stock
issued in exchange for an RSU. 

  

	5.	 Delivery of Shares. Upon the lapse of the Forfeiture Restrictions with respect to the RSUs granted
hereby, the Company shall cause to be delivered to the Holder the Shares evidenced by stock certificates representing the Shares with the appropriate legends affixed thereto, appropriate entry on the books of the Company or of a duly authorized
transfer agent, or other appropriate means as determined by the Company, and such Shares shall be transferable by the Holder. 

  

	6.	 Capital Adjustments and Reorganizations. The existence of the RSUs shall not affect in any
way the right or power of the Company or any company the stock of which is awarded pursuant to this Agreement to make or authorize any adjustment, recapitalization, reorganization or other change in its capital structure or its business, engage in
any merger or consolidation, issue any debt or equity securities, dissolve or liquidate, or sell, lease, exchange or otherwise dispose of all or any part of its assets or business, or engage in any other corporate act or proceeding.

  
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	7.	 Covenant Not To Compete; Solicit or Disclose Confidential Information. 

 

	 	a.	 The Holder acknowledges that he or she is in possession of and has access to Confidential Information and that
he or she will continue to have such possession and access during employment by the Company. The Holder also acknowledges that the Company’s business, products and services are highly specialized and that it is essential that they be protected,
and, accordingly, the Holder agrees that as partial consideration for the RSUs granted herein that should the Holder engage in any Detrimental Activity at any time during his or her employment or during a period of one year following his or her
termination, the Company shall be entitled to: (i) recover from the Holder the value of any portion of the RSUs that has been paid; (ii) seek injunctive relief against the Holder pursuant to the provisions of subsection (b) below;
(iii) recover all damages, court costs, and attorneys’ fees incurred by the Company in enforcing the provisions of this Agreement; and (iv) set off any such sums to which the Company is entitled hereunder against any such sum which may be
owed to the Holder by the Company. 

  

	 	b.	 Because of the difficulty of measuring economic losses to the Company as a result of a breach of the foregoing
covenants, and because of the immediate and irreparable damage that could be caused to the Company for which it would have no other adequate remedy, the Holder agrees that the foregoing covenants may be enforced by the Company in the event of breach
by him or her by injunction relief and restraining order, without the necessity of posting a bond, and that such enforcement shall not be the Company’s exclusive remedy for a breach but instead shall be in addition to all other rights and
remedies available to the Company. 

  

	 	c.	 The covenants and provisions of this Section 7 are severable and separate, and the unenforceability of any
specific covenant or provision shall not affect the enforceability of any other covenant or provision. Moreover, in the event any arbitrator or court of competent jurisdiction shall determine that the scope or time set forth are unreasonable, then
it is the intention of the parties that such restrictions be enforced to the fullest extent which the panel or court deems reasonable, and this Agreement shall thereby be reformed. 

 

	 	d.	 Each of the covenants in this Section 7 shall be construed as an agreement independent of any other
provision in this Agreement, and the existence of any claim or cause of action of the Holder against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of such covenants
or provisions. 

  

	8.	 Tax Withholding. To the extent that the receipt of the RSUs or the lapse of any Forfeiture
Restrictions results in income to the Holder for federal, state or local income, employment or other tax purposes with respect to which the Company or any Affiliate has a withholding obligation, the Holder shall deliver to the Company at the time of
such receipt or lapse, as the case may be, such amount of money as the Company or any Affiliate may require to meet its obligation under applicable tax laws or regulations, and, if the Holder fails to do so, the Company is authorized to withhold
from the Shares granted hereby or from any cash or stock remuneration then or thereafter payable to the Holder in any capacity any tax required to be withheld by reason of such resulting income. 

 

	9.	 No Fractional Shares. All provisions of this Agreement concern whole shares. If the
application of any provision hereunder would yield a fractional share, such fractional share shall be rounded down to the next whole share if it is less than 0.5 and rounded up to the next whole share if it is 0.5 or more. 

  
 - 4 - 

	10.	 Nontransferability. This Agreement is not transferable by the Holder otherwise than by will or by the
laws of descent and distribution. 

  

	11.	 Employment Relationship. For purposes of this Agreement, the Holder shall be considered to
be in the employment of the Company and its Affiliates as long as the Holder has an employment relationship with the Company and its Affiliates. The Committee shall determine any questions as to whether and when there has been a termination of such
employment relationship, and the cause of such termination, under the Plan and the Committee’s determination shall be final and binding on all persons. 

  

	12.	 Not an Employment Agreement. This Agreement is not an employment agreement, and no
provision of this Agreement shall be construed or interpreted to create an employment relationship between the Holder and the Company or any Affiliate, to guarantee the right to remain employed by the Company or any Affiliate for any specified term
or require the Company or any Affiliate to employ the Holder for any period of time. 

  

	13.	 Legend. The Holder consents to the placing on the certificate for the Shares an
appropriate legend restricting resale or other transfer of the Shares except in accordance with all applicable securities laws and rules thereunder. 

  

	14.	 Notices. Any notice, instruction, authorization, request or demand required hereunder
shall be in writing, and shall be deemed to have been duly given when delivered or mailed to the Company or the Holder, as applicable, by (a) personal delivery; (b) United States registered mail, return receipt requested, postage prepaid,
addressed to the Company at the then current address of the Company’s principal corporate office, or to the Holder at the Holder’s residential address indicated in the Company’s records; or (c) email to the Company at
LegalDesk@rig.net or to the Holder at the Holder’s email address indicated in the Company’s records. 

  

	15.	 Amendment and Waiver. Except as otherwise provided herein or in the Plan or as necessary
to implement the provisions of the Plan, this Agreement may be amended, modified or superseded only by written instrument executed by the Company and the Holder. Only a written instrument executed and delivered by the party waiving compliance hereof
shall make any waiver of the terms or conditions. Any waiver granted by the Company shall be effective only if executed and delivered by a duly authorized executive officer of the Company other than the Holder. The failure of any party at any time
or times to require performance of any provisions hereof shall in no manner effect the right to enforce the same. No waiver by any party of any term or condition, or the breach of any term or condition contained in this Agreement, in one or more
instances, shall be construed as a continuing waiver of any such condition or breach, a waiver of any other condition, or the breach of any other term or condition. 

 

	16.	 Arbitration. In the event of any difference of opinion concerning the meaning or effect of the Plan or
this Agreement, such difference shall be resolved by the Committee. Any controversy arising out of or relating to the Plan or this Agreement shall be resolved by arbitration conducted in accordance with the terms of the Plan. The arbitration shall
be final and binding on the parties. 

  
 - 5 - 

	17.	 Governing Law and Severability. The validity, construction and performance of this
Agreement shall be governed by the laws of the State of Delaware, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Agreement to the substantive law of another jurisdiction.
The invalidity of any provision of this Agreement shall not affect any other provision of this Agreement, which shall remain in full force and effect. 

  

	18.	 Successors and Assigns. Subject to the limitations which this Agreement imposes upon the
transferability of the RSUs granted hereby, this Agreement shall bind, be enforceable by and inure to the benefit of the Company and its successors and assigns, and to the Holder, the Holder’s permitted assigns, executors, administrators,
agents, legal and personal representatives. 

  

	19.	 Counterparts. This Agreement may be executed in counterparts, each of which shall be
deemed an original for all purposes but all of which taken together shall constitute one and the same instrument. 

  

	20.	 Recoupment. If the Holder is subject to the Company’s clawback policy (the
“Policy”), the Holder agrees that the RSUs are subject to the terms of the Policy, as may be amended from time to time. 

  

	21.	 Compliance with Section 409A. It is the Company’s intent that this Agreement be
exempt from the application of, or otherwise comply with, the requirements of Section 409A. Specifically, any taxable benefits or payments provided under this Agreement are intended to qualify for the short term deferral exception to
Section 409A to the maximum extent possible. Although the Company will use its best efforts to avoid the imposition of taxation, interest and penalties under Section 409A, the tax treatment of the benefits provided under the Plan is not
warranted or guaranteed. Neither the Company, its Affiliates nor their respective directors, officers, employees or advisers shall be held liable for any taxes, interest, penalties or other monetary amounts owed by the Holder (or any other
individual claiming a benefit through the Holder) as a result of the Plan. 

 [SIGNATURE PAGE FOLLOWS] 

  
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 IN WITNESS WHEREOF, the Holder and the Company agree and acknowledge that this grant
of Restricted Stock Units is granted under and governed by the terms and conditions of the Plan and this Agreement. 
  

									
	Holder	 		  	RigNet, Inc.
					
	By:	 	
                     
            
	 	    	  	By:	  	 /s/ Steven E. Pickett

	Name: [_###PARTICIPANT_NAME###]	 		  	Name:	  	Steven E. Pickett
		 		 		  	Title:	  	CEO & President

  
 - 7 -EX-10.4

 Exhibit 10.4 

PERFORMANCE UNIT AWARD AGREEMENT 

RigNet, Inc. Omnibus Incentive Plan 

This PERFORMANCE UNIT AWARD AGREEMENT (this “Agreement”) is made by and between RigNet, Inc. a Delaware corporation
(the “Company”), and the Holder effective as of the Grant Date pursuant to the RigNet, Inc. Omnibus Incentive Plan (the “Plan”), a copy of which previously has been made available to the Holder and the
terms and provisions of which are incorporated by reference herein. The Company hereby grants to the Holder pursuant to the Plan the Performance Units specified herein (the “Performance Units”): 

 

					
			
		 	Holder:	  	###PARTICIPANT_NAME###
			
		 	Grant Date:	  	March 20, 2019
			
		 	Number of Performance Units:	  	###TOTAL_AWARDS###

  

	1.	 Definitions. For purposes of this Agreement, the following terms shall have the meanings indicated
below: 

  

	 	a.	 “Apps and IOT Revenue CAGR” means, as determined in the sole discretion of the
Committee, the rate of growth compounded annually in revenues reported in the Company’s Apps and IOT segment beginning on January 1, 2019 and ending on December 31, 2021. 

 

	 	b.	 “Average 3-year AEBITDA Margin” means, as
determined in the sole discretion of the Committee, the mathematical average of the reported AEBITDA for the Company for each of 2019, 2020 and 2021 divided by the reported revenue of the Company for each of those periods. 

 

	 	c.	 “Cause” is defined as any of the following: (i) the Holder’s plea of guilty
or nolo contendere, or conviction of a felony or a misdemeanor involving moral turpitude; (ii) any act by the Holder of fraud or dishonesty with respect to any aspect of the Company’s business including, but not limited to, falsification
of Company records; (iii) the Holder’s failure to perform his duties (other than by reason of Disability); (iv) the Holder’s engagement in misconduct that is materially injurious to the Company (monetarily or otherwise);
(v) the Holder’s breach of any confidentiality, noncompetition or non-solicitation obligations to the Company, including but not limited to engagement in Detrimental Activity; (vi) the
Holder’s commencement of employment with an unrelated employer; (vii) material violation by the Holder of any of the Company’s written policies, including but not limited to any harassment and/or
non-discrimination policies; or (viii) the Holder’s gross negligence in the performance of his or her duties. 

 

	 	d.	 “Confidential Information” means material of a secret or confidential nature relating
to the business, products, or services of the Company or any Affiliate acquired by the Holder during employment with the Company or any Affiliate. “Confidential Information” excludes any information readily available to members of the
general public. 

  
 - 1 - 

	 	e.	 “Detrimental Activity” shall include, unless otherwise modified by the Company in
connection with a Change in Control: (i) rendering services for any person or organization, or engaging directly or indirectly in any business, which is or becomes competitive with the Company or any Affiliate; (ii) disclosing to anyone
outside the Company or any Affiliate, other than the Company’s or any Affiliate’s business, without prior written authorization from the Company or any Affiliate, any Confidential Information; (iii) soliciting, interfering, inducing,
or attempting to cause any employee of the Company or any Affiliate to leave his or her employment, whether done on the Holder’s own account or on account of any person, organization, or business which is or becomes competitive with the Company
or any Affiliate; or (iv) directly or indirectly soliciting the trade or business of any customer of the Company or any Affiliate, which is or becomes competitive with the Company or any Affiliate. 

 

	 	f.	 “Forfeiture Restrictions” means the prohibitions and restrictions set forth herein with
respect to the sale or other disposition of the Performance Units issued to the Holder hereunder and the obligation to forfeit and surrender such Performance Units to the Company. 

 

	 	g.	 “Good Reason” means the occurrence of any of the following without the Holder’s
prior written consent: (i) a material adverse change in the Holder’s position, authority, duties or responsibilities, excluding a change in reporting relationships; (ii) a material reduction in the Holder’s base salary;
(iii) a material diminution of the Holder’s employee benefits (including but not limited to medical, dental, life insurance and long-term disability plans); or (iv) the relocation of the Holder’s principal place of employment by
more than 50 miles from such location as of the Grant Date. Notwithstanding the foregoing, a “Good Reason” shall not exist unless the Holder notifies the Company of the existence of the condition described in this Section 1(g) within
ninety (90) days of the initial existence of the condition and the Company does not remedy the condition within thirty (30) days following receipt of such notice. 

 

	 	h.	 “Payment Date” means the earlier of (i) the date that is two and one-half (2 1⁄2) months after the end of the calendar year in which the Performance Units become 100% vested, or (ii) the date that is two and one-half (2 1⁄2) months after the end of the calendar year containing the last day of the Performance Award Period. 

 

	 	i.	 “Performance Award Period” means the three (3) year period that begins on the
first day of the 2019 Performance Period and ends on the last day of the 2021 Performance Period. 

  

	 	j.	 “Total Revenue CAGR” means, as determined in the sole discretion of the Committee, the
rate of growth compounded annually in consolidated revenues reported by the Company beginning on January 1, 2019 and ending on December 31, 2021. 

Capitalized terms not otherwise defined in this Agreement shall have the meanings given to such terms in the Plan. 

  
 - 2 - 

	2.	 Grant of Performance Units. 

 

	 	a.	 Metrics. For purposes of determining the vesting of, and the payment, if any, to be made with
respect to, the Performance Units, the Performance Units are based on three independent metrics: (1) Total Revenue CAGR, (2) Average 3-year AEBITDA Margin, and (3) Apps and IOT Revenue CAGR. One
third of the Performance Units will be attributed to each metric. The actual number of Performance Units that may be earned by the Holder will be determined as described below, based upon the actual results for the Performance Award Period:

  

													
	 Funding Metric
	  	Threshold	 	 	Target	 	 	Maximum	 
	 Total Revenue CAGR
	  	 	4	% 	 	 	6	% 	 	 	8	% 
	 Average 3-year AEBITDA Margin
	  	 	14	% 	 	 	16	% 	 	 	18	% 
	 Apps & IOT Revenue CAGR
	  	 	17	% 	 	 	21	% 	 	 	25	% 
	 Performance Factor
	  	 	80	% 	 	 	100	% 	 	 	200	% 

 The Performance Units that are granted hereby shall be subject to the Forfeiture Restrictions. The Holder
shall have no vested interest in the Performance Units credited to his or her bookkeeping ledger account except as set forth in this Section 2. On or before the Payment Date, and after satisfaction of the Holder’s tax withholding
obligations described in Section 8, the Company shall issue to the Holder that number of shares of Stock, if any, calculated or otherwise determined pursuant to this Agreement in exchange for the Performance Units that vested as a result of the
lapse of the applicable Forfeiture Restrictions and thereafter the Holder shall have no further rights with respect to such vested Performance Units. 
  

	 	b.	 Forfeiture. If the Holder ceases to be employed by the Company or an Affiliate for any
reason before the applicable lapse date, other than in accordance with subsections (c) and (d) below, the Forfeiture Restrictions then applicable to the Performance Units shall not lapse and all the Performance Units then subject to the
Forfeiture Restrictions shall be forfeited to the Company on the date the Holder ceases to be employed by the Company or an Affiliate. If the Holder breaches, before the applicable lapse date, any
non-competition, confidentiality, restrictive covenant or other similar agreement with the Company to which the Holder is subject, the Forfeiture Restrictions then applicable to the Performance Units shall not
lapse and all the Performance Units then subject to the Forfeiture Restrictions shall be forfeited to the Company on the date the Holder breaches such agreement or covenant. 

 

	 	c.	 Death, Disability and Retirement. If the Holder’s employment terminates due to
(i) death, (ii) Disability or (iii) retirement after having reached both 60 years of age and five years of service before the last day of the Performance Award Period, all unvested Performance Units (at target) shall automatically become
100% vested on the Holder’s date of termination. 

  
 - 3 - 

	 	d.	 Change in Control. If a Change in Control occurs on or before the last day of the
Performance Award Period while the Holder is employed with the Company, all unvested Performance Units (at the higher of target or calculated achievement to date) shall automatically become 100% vested upon such Change in Control.

  

	3.	 Delivery of Shares. Upon the lapse of the Forfeiture Restrictions with respect to the Performance Units
granted hereby, the Company shall cause to be delivered to the Holder any shares of Stock that are to be issued under the terms of this Agreement in exchange for all vested Performance Units awarded hereby. The shares shall be evidenced by stock
certificates with the appropriate legends affixed thereto, appropriate entry on the books of the Company or of a duly authorized transfer agent, or other appropriate means as determined by the Company, and such shares shall be transferable by the
Holder. The maximum number of shares of Stock that may be paid under this Agreement is two times the number of Performance Units indicated on Page 1 of this Agreement. 

 

	4.	 Performance Units Do Not Award Any Rights of a Shareholder. The Holder shall not have the voting rights
or any of the other rights, powers or privileges of a holder of Stock with respect to the Performance Units that are awarded hereby. Only after a share is issued in exchange for a Performance Unit will the Holder have all of the rights of a
shareholder with respect to such share of Stock issued in exchange for a Performance Unit. 

  

	5.	 Transfer Restrictions. The Performance Units granted hereby may not be sold, assigned, pledged,
exchanged, hypothecated or otherwise transferred, encumbered or disposed of (other than by will or the applicable laws of descent and distribution). Any such attempted sale, assignment, pledge, exchange, hypothecation, transfer, encumbrance or
disposition in violation of this Agreement shall be void and the Company shall not be bound thereby. Further, any shares of Stock issued to the Holder in exchange for Performance Units awarded hereby may not be sold or otherwise disposed of in any
manner that would constitute a violation of any applicable securities laws. The Holder also agrees that the Company may (a) refuse to cause the transfer of any such shares to be registered on the applicable stock transfer records of the Company
if such proposed transfer would, in the opinion of counsel satisfactory to the Company, constitute a violation of any applicable securities law; and (b) give related instructions to the transfer agent, if any, to stop registration of the
transfer of such shares of Stock. The shares of Stock that may be issued under the Plan are registered with the Securities and Exchange Commission under a Registration Statement on Form S-8. A Prospectus
describing the Plan and the Stock is available from the Company. 

  

	6.	 Capital Adjustments and Reorganizations; Acquisitions and Divestitures. The existence of the Performance
Units shall not affect in any way the right or power of the Company or any company the stock of which is awarded pursuant to this Agreement to make or authorize any adjustment, recapitalization, reorganization or other change in its capital
structure or its business, engage in any merger or consolidation, issue any debt or equity securities, dissolve or liquidate, or sell, lease, exchange or otherwise dispose of all or any part of its assets or business, or engage in any other
corporate act or proceeding. If, during the Performance Award Period, the Company or any of its subsidiaries acquire or dispose of, by any means including by asset or equity purchase or sale or by merger, any entity, business or material group of
assets, the Committee shall revise the threshold, target and maximum for the Performance Period of such acquisition or disposition and all subsequent Performance Periods as the Committee determines is necessary to properly adjust such amounts to
reflect the results of such transaction. 

  
 - 4 - 

	7.	 Covenant Not To Compete; Solicit or Disclose Confidential Information. 

 

	 	a.	 The Holder acknowledges that he or she is in possession of and has access to Confidential Information and that
he or she will continue to have such possession and access during employment by the Company. The Holder also acknowledges that the Company’s business, products and services are highly specialized and that it is essential that they be protected,
and, accordingly, the Holder agrees that as partial consideration for the Performance Units granted herein that should the Holder engage in any Detrimental Activity at any time during his or her employment or during a period of one (1) year
following his or her termination, the Company shall be entitled to: (i) recover from the Holder the value of any portion of the Performance Units that has been paid; (ii) seek injunctive relief against the Holder pursuant to the provisions
of subsection (b) below; (iii) recover all damages, court costs, and attorneys’ fees incurred by the Company in enforcing the provisions of this Agreement; and (iv) set off any such sums to which the Company is entitled hereunder
against any such sum which may be owed to the Holder by the Company. 

  

	 	b.	 Because of the difficulty of measuring economic losses to the Company as a result of a breach of the foregoing
covenants, and because of the immediate and irreparable damage that could be caused to the Company for which it would have no other adequate remedy, the Holder agrees that the foregoing covenants may be enforced by the Company in the event of breach
by him or her by injunction relief and restraining order, without the necessity of posting a bond, and that such enforcement shall not be the Company’s exclusive remedy for a breach but instead shall be in addition to all other rights and
remedies available to the Company. 

  

	 	c.	 The covenants and provisions of this Section 7 are severable and separate, and the unenforceability of any
specific covenant or provision shall not affect the enforceability of any other covenant or provision. Moreover, in the event any arbitrator or court of competent jurisdiction shall determine that the scope or time set forth are unreasonable, then
it is the intention of the parties that such restrictions be enforced to the fullest extent which the panel or court deems reasonable, and this Agreement shall thereby be reformed. 

 

	 	d.	 Each of the covenants in this Section 7 shall be construed as an agreement independent of any other
provision in this Agreement, and the existence of any claim or cause of action of the Holder against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of such covenants
or provisions. 

  

	8.	 Tax Withholding. To the extent that the receipt of the Performance Units, any payment in cash or shares
of Stock or the lapse of any Forfeiture Restrictions results in income to the Holder for federal, state or local income, employment or other tax purposes with respect to which the Company or any Affiliate has a withholding obligation, the Holder
shall deliver to the Company at the time of such receipt, payment or lapse, as the case may be, such amount of money as the Company or any Affiliate may require to meet its obligation under applicable tax laws or regulations, and, if the Holder
fails to do so, the Company is authorized to withhold from the shares of Stock awarded hereunder or from any cash or stock remuneration then or thereafter payable to the Holder in any capacity any tax required to be withheld by reason of such
resulting income. 

  
 - 5 - 

	9.	 No Fractional Shares. All provisions of this Agreement concern whole shares. If the application of any
provision hereunder would yield a fractional share, such fractional share shall be rounded down to the next whole share if it is less than 0.5 and rounded up to the next whole share if it is 0.5 or more. 

 

	10.	 Nontransferability. This Agreement is not transferable by the Holder otherwise than by will or by the
laws of descent and distribution. 

  

	11.	 Employment Relationship. For purposes of this Agreement, the Holder shall be considered to be in the
employment of the Company and its Affiliates as long as the Holder has an employment relationship with the Company and its Affiliates. The Committee shall determine any questions as to whether and when there has been a termination of such employment
relationship, and the cause of such termination, under the Plan and the Committee’s determination shall be final and binding on all persons. 

  

	12.	 Not an Employment Agreement. This Agreement is not an employment agreement, and no provision of this
Agreement shall be construed or interpreted to create an employment relationship between the Holder and the Company or any Affiliate, to guarantee the right to remain employed by the Company or any Affiliate for any specified term or require the
Company or any Affiliate to employ the Holder for any period of time. 

  

	13.	 Legend. The Holder consents to the placing on the certificate for any shares of Stock issued under this
Agreement in certificated form an appropriate legend restricting resale or other transfer of such shares except in accordance with all applicable securities laws and rules thereunder. 

 

	14.	 Notices. Any notice, instruction, authorization, request or demand required hereunder shall be in
writing, and shall be deemed to have been duly given when delivered or mailed to the Company or the Holder, as applicable, by (a) personal delivery; (b) United States registered mail, return receipt requested, postage prepaid, addressed to
the Company at the then current address of the Company’s principal corporate office, or to the Holder at the Holder’s residential address indicated in the Company’s records; or (c) email to the Company at LegalDesk@rignet.com or
to the Holder at the Holder’s email address indicated in the Company’s records. 

  

	15.	 Amendment and Waiver. Except as otherwise provided herein or in the Plan or as necessary to implement
the provisions of the Plan, this Agreement may be amended, modified or superseded only by written instrument executed by the Company and the Holder. Only a written instrument executed and delivered by the party waiving compliance hereof shall make
any waiver of the terms or conditions. Any waiver granted by the Company shall be effective only if executed and delivered by a duly authorized executive officer of the Company other than the Holder. The failure of any party at any time or times to
require performance of any provisions hereof shall in no manner effect the right to enforce the same. No waiver by any party of any term or condition, or the breach of any term or condition contained in this Agreement, in one or more instances,
shall be construed as a continuing waiver of any such condition or breach, a waiver of any other condition, or the breach of any other term or condition. 

  
 - 6 - 

	16.	 Disputes. In the event of any difference of opinion concerning the meaning or effect of the Plan or this
Agreement, such difference shall be resolved by the Committee. Any controversy arising out of or relating to the Plan or this Agreement shall be resolved by the state and federal courts sitting in Harris County, Texas. 

 

	17.	 Governing Law and Severability. The validity, construction and performance of this Agreement shall be
governed by the laws of the State of Delaware, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Agreement to the substantive law of another jurisdiction. The invalidity of
any provision of this Agreement shall not affect any other provision of this Agreement, which shall remain in full force and effect. 

  

	18.	 Successors and Assigns. Subject to the limitations which this Agreement imposes upon the transferability
of the Performance Units granted hereby and any shares of Stock issued hereunder, this Agreement shall bind, be enforceable by and inure to the benefit of the Company and its successors and assigns, and to the Holder, the Holder’s permitted
assigns, executors, administrators, agents, legal and personal representatives. 

  

	19.	 Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be an
original for all purposes but all of which taken together shall constitute but one and the same instrument. 

  

	20.	 Recoupment. The Holder acknowledges and agrees that all payments made under this Agreement are subject
to the Company’s clawback policy, as it may be amended from time to time (the “Policy”). If at any time after an amount is paid under this Agreement the financial results of the Company and/or its Affiliates are restated
(other than a restatement caused by a change in applicable accounting rules or interpretations) and such restated financial results would have resulted in fewer shares of Stock being paid under this Agreement if such restated financial results had
been taken into account originally in determining the vesting of the Performance Units then the vesting of the Performance Units shall be recalculated under the applicable provisions of this Agreement taking into account such restated financial
results and the Holder or, if the Holder has died, the Holder’s estate, will, to the extent required by governing law or regulations, as they may be amended from time to time, and/or the Policy, repay to the Company, upon demand by the Company,
any shares of Stock delivered under this Agreement in excess of the number of shares that would have been delivered if the restated financial results had been taken into account originally in determining the vesting of the Performance Units.

  

	21.	 Compliance with Section 409A. This Agreement is subject to, and intended to comply
with the requirements of, Section 409A. This Agreement shall be administered in a manner that is intended to meet those requirements and shall be construed and interpreted in accordance with such intent. Although the Company will use its best
efforts to avoid the imposition of taxation, interest and penalties under Section 409A, the tax treatment of the benefits provided under the Plan is not warranted or guaranteed. Neither the Company, its Affiliates nor their respective
directors, officers, employees or advisers shall be held liable for any taxes, interest, penalties or other monetary amounts owed by the Holder (or any other individual claiming a benefit through the Holder) as a result of the Plan.

  
 - 7 - 

 IN WITNESS WHEREOF, the Holder and the Company agree and acknowledge that this grant
of Performance Units is granted under and governed by the terms and conditions of the Plan and this Agreement. 
  

									
	Holder	 		 	RigNet, Inc.
					
	By:	 	 	 		 	By:	 	/s/ Steven Pickett
	Name:	 	###PARTICIPANT_NAME###	 		 	Name:	 	Steven Pickett
		 		 		 	Title:	 	CEO

  
 - 8 -

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