Document:

EX-10.11

 Exhibit 10.11 

FiscalNote Holdings, Inc. 

2022 Long-Term Incentive Plan 

NOTICE OF PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD 

FiscalNote Holdings, Inc. (“Company”) has awarded to you (“Participant”) performance-based
restricted stock units (“PSUs”) covering the number of Shares set forth below (the “PSU Award”) under the FiscalNote Holdings, Inc. 2022 Long-Term Incentive Plan (the “Plan”).
Your “Award Agreement” applicable to the PSUs consists of (a) this Notice of Performance-Based Stock Unit Award (this “Notice”), and (b) the attached Standard Terms and Conditions for
Performance-Based Restricted Stock Units (PSUs) (the “PSU Terms and Conditions”), including the Performance Vesting Terms. Capitalized terms used but not defined in this Award Agreement will have the same meanings specified
in the Plan. 
  

					
	Name of Participant:	  	  
	  	
			
	Grant Date:	  	  
	  	
			
	Grant ID:	  	  
	  	
			
	[Target/Maximum] Number of PSUs:	  	  
	  	
			
	Country at Grant:	  	United States	  	
			
	 Vesting Commencement

Date:
	  	  
	  	
		
	Vesting Schedule:	  	As provided in Exhibit A to this Notice (the “Performance Vesting Terms”)

 By accepting (whether electronically or otherwise) the PSU Award, you acknowledge and agree to the following: 

 

	1.	 The PSU Award is governed by the terms and conditions of this Award Agreement and the Plan. In the event of a
conflict between the terms of the Plan and this Award Agreement, the terms of the Plan will prevail. 

  

	2.	 You have received a copy of the Plan, this Award Agreement, the Plan prospectus, and the FiscalNote Holdings,
Inc. Insider Trading Policy (“Trading Policy”), and represent that you have read these documents and are familiar with their terms. You further agree to accept as binding, conclusive, and final all decisions and
interpretations of the Committee regarding any questions relating to the PSU Award and the Plan. 

  

	3.	 Vesting of the PSUs is subject to your Continuous Service as an Employee, Director, or Consultant (except as
provided in the Performance Vesting Terms), which is for an unspecified duration and may be terminated at any time, with or without Cause, and nothing in this Award Agreement or the Plan changes the nature of that relationship.

  

	4.	 The Company is not providing any tax, legal, or financial advice, nor is the Company making any recommendations
regarding participation in the Plan. You should consult with your own personal tax, legal, and financial advisors regarding participation in the Plan before taking any action related to the Plan. 

 

	5.	 If you do not accept or decline this PSU Award within 90 days of the
Grant Date or by such other date that may be communicated to you by the Company, the Company will accept this PSU Award on your behalf and you will be deemed to have accepted the terms and conditions of the PSUs set forth in the Plan and this Award
Agreement and you must sign any future agreements related to this PSU Award as and when requested by the Company or this PSU Award will be forfeited without  

  
 1 

	 	
consideration. If you wish to decline this PSU Award, you should promptly notify the Company at its principal place of business, Attention: Stock Administration, or by electronic mail to
benefits@fiscalnote.com. If you decline this PSU Award, the PSUs will be cancelled and no benefits from the PSUs nor any compensation or benefits in lieu of the PSUs will be provided to you. 

IN WITNESS WHEREOF, the Company has caused this Notice to be executed by its duly authorized officer. 

 

	
	FISCALNOTE HOLDINGS, INC
	
	  

	Name
	Title

 [Participant Signature page follows on the reverse side of this Notice] 

  
 2 

 PARTICIPANT’S ACCEPTANCE 

The undersigned hereby accepts the foregoing PSU Award and agrees to the terms and conditions of the Award Agreement and the Plan. The undersigned hereby
acknowledges receipt of the attached Standard Terms and Conditions and that a copy of the Plan is available on the Company’s internal SharePoint website. 

 

	
	PARTICIPANT
	
	  

	Signature

  
 3 

 Exhibit A 

Performance Vesting Terms 

  
 1 

 FiscalNote Holdings, Inc. 

2022 Long-Term Incentive Plan 

STANDARD TERMS AND CONDITIONS FOR 

PERFORMANCE-BASED RESTRICTED STOCK UNITS (PSUs) 

1. GRANT OF PERFORMANCE-BASED RESTRICTED STOCK UNITS 

(a) A performance-based restricted stock unit (“PSU”) is a non-voting unit of
measurement that is deemed solely for bookkeeping purposes to be equivalent to one outstanding Share. The PSUs are used solely as a device to determine the number of Shares to eventually be issued to Participant if such PSUs vest. The PSUs shall not
be treated as property or as a trust fund of any kind. 
 2. SETTLEMENT 

(a) The number of PSUs that Participant actually earns will be determined by the level of achievement of the performance goal(s) in accordance
with Exhibit A to the Notice. As soon as administratively practical during calendar year [] (and within ninety (90) days) following the vesting date (“Vesting Date”), and subject to the
Participant remaining in Continuous Service through the Vesting Date, the Company will deliver to Participant a number of Shares (either by delivering one or more certificates for such Shares or by entering such Shares in book entry form, as
determined by the Company in its discretion) equal to the number of PSUs subject to the PSU Award that vest on the applicable Vesting Date, subject to the satisfaction of any applicable withholding obligations for
Tax-Related Items (defined below)No fractional PSUs or rights for fractional Shares shall be created pursuant to this Agreement. 

(b) The Company reserves the right to issue to Participant the cash equivalent of Shares, in part or in full satisfaction of the delivery of
Shares, upon vesting of the PSUs, and to the extent applicable, references in this Award Agreement to Shares issuable in connection with the PSUs will include the potential issuance of its cash equivalent pursuant to such right. 

3. DIVIDEND AND VOTING RIGHTS  
 Unless and until such
time as Shares are issued in settlement of vested PSUs, Participant will have no ownership of the Shares allocated to the PSUs, and will have no rights to vote such Shares and no rights to dividends nor any payment, payment-in-kind or any equivalent with regard to any cash or other dividends that are declared and paid on Shares. 

4. LIMITEDTRANSFERABILITY OF PSUs  
 Except as provided in
this Agreement, the PSUs and any interest therein will not be sold, assigned, transferred, pledged, hypothecated, or otherwise disposed of in any manner other than by will or by the laws of descent or distribution or court order, and any permitted
transferee shall be bound by all of the terms and conditions of the Plan and this Award Agreement. In accordance with procedures established by the Committee, the Participant may make gratuitous transfers of the PSUs to trusts or other entities for
estate planning purpose where Family Members (defined below) have more than fifty percent of the beneficial or voting interests of such trusts or entities. “Family Member” means the Participant’s child, stepchild, grandchild, parent,
stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law,
father-in-law, son-in-law, daughter-in-law, brother-in-law, sister-in-law,
including adoptive relationships, and any person sharing the Participant’s household (other than a tenant or employee). The terms of the Plan and this Award Agreement will be binding upon the executors, administrators, heirs, successors, and
assigns of Participant. 

  
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 5. TERMINATION  

Unless otherwise set forth in Exhibit A to the Notice, the following default provisions shall apply. The Committee shall have the
exclusive discretion to determine when Participant is no longer actively providing services for purposes of his or her PSU Award (including whether Participant may still be considered to be providing services while on a leave of absence). 

(a) Cause. In the event that Participant’s Continuous Service is terminated for Cause, as of the date of such termination all PSUs
shall cease to vest and any outstanding PSUs and vested PSUs that have yet to settle (pursuant to Section 2 of these PSU Terms and Conditions) shall immediately be forfeited to the Company, and all rights of Participant to such PSUs will
immediately terminate without payment of consideration by the Company. 
 (b) Other. Unless the Committee determines otherwise, in
the event that Participant’s Continuous Service terminates for any reason other than for Cause, as of the date of such termination all PSUs shall cease to vest and (except for any vested PSUs that have yet to settle, pursuant to Section 2
of these PSU Terms and Conditions) shall immediately be forfeited to the Company and all rights of Participant to such PSUs will immediately terminate without payment of consideration by the Company. 

6. TAXES 
 (a) Responsibility for
Taxes. By accepting this PSU Award, Participant acknowledges that, regardless of any action taken by the Company or, if different, any Affiliate that employs Participant (the “Employer”), the ultimate liability for
all income tax, social insurance, payroll tax, fringe benefits tax, payment on account, employment tax, stamp tax or other tax-related items related to the Participant’s participation in the Plan and
legally applicable to the Participant, including any employer liability for which the Participant is liable (the “Tax-Related Items”) is and remains Participant’s responsibility
and may exceed the amount actually withheld by the Company or the Employer. Participant further acknowledges that the Company and/or the Employer (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the PSU Award, including, but not limited to, the grant, vesting, or settlement of the PSU Award, the subsequent sale of Shares acquired pursuant to such
settlement, and the receipt of any dividends, and (ii) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the PSU Award to reduce or eliminate Participant’s liability for Tax-Related Items or achieve any particular tax result. Further, if Participant is subject to Tax-Related Items in more than one jurisdiction, as applicable, Participant
acknowledges that the Company and/or the Employer may be required to withhold or account for Tax-Related Items in more than one jurisdiction. Participant agrees to pay to the Company or the Employer any amount
of Tax-Related Items that the Company or the Employer may be required to withhold or account for as a result of Participant’s participation in the Plan that cannot be satisfied by the means described in
this Section. The Company may refuse to issue or deliver the Shares, or the proceeds of the sale of Shares, if Participant fails to comply with Participant’s obligations in connection with the Tax-Related
Items. 
 (b) Withholding. Prior to the relevant taxable or tax withholding event, as applicable, Participant agrees to make
adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. 

Withholding for Tax-Related Items will be made in accordance with Section 8 of the Plan and such rules and
procedures as may be established by the Committee, and in compliance with the Trading Policy, if applicable. In the event the Company or the Employer withholds more than the Tax-Related Items using one of the
methods described above, Participant may receive a refund of any over-withheld amount in cash but will have no entitlement to the Shares sold or withheld. If the withholding obligation is satisfied by withholding in Shares, for tax purposes,
Participant will be deemed to have been issued the full number of vested Shares underlying the PSUs, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related
Items. No fractional Shares will be withheld or issued pursuant to the settlement of the PSUs and the Tax-Related Items thereunder. 

7. CODE SECTION 409A  
 It is intended
that the terms of the PSU Award will not result in the imposition of any tax liability pursuant to Section 409A of the Code, and this Award Agreement shall be construed and interpreted consistent with that intent. Payments pursuant to this PSU
Award are intended to constitute separate payments for purposes of Section 409A of the Code. 

  
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 8. GOVERNING LAW AND VENUE  

This Award Agreement shall be governed by and construed and interpreted in accordance with the laws of the State of Delaware, without giving effect to
principles of conflicts of law. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant or this Award Agreement, the parties hereby submit to the exclusive jurisdiction
of the State of Delaware and agree that such litigation shall be conducted only in the courts of Delaware, or the federal courts for the United States for Delaware, and no other courts, where this grant is made and/or to be performed. 

9. ENTIRE AGREEMENT; ENFORCEMENT OF RIGHTS  
 This Award
Agreement, together with the Plan, sets forth the entire agreement and understanding of the parties relating to the subject matter herein and supersedes all prior discussions, agreements, commitments, or negotiations between the parties. Except as
otherwise permitted by the Plan, no modification of, or amendment to, this Award Agreement, nor any waiver of any rights under this Award Agreement, will be effective unless in writing and signed by the parties to this Award Agreement (which may be
electronic). The failure by either party to enforce any rights under this Award Agreement will not be construed as a waiver of any rights of such party. 

10. SEVERABILITY  
 If one or more provisions of this
Award Agreement are held to be unenforceable under Applicable Law, the parties agree to renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then
(a) such provision shall be excluded from this Award Agreement, (b) the balance of this Award Agreement shall be interpreted as if such provision were so excluded, and (c) the balance of this Award Agreement shall be enforceable in
accordance with its terms. 
 11. CONSENT TO ELECTRONIC DELIVERY AND PARTICIPATION  

By accepting this PSU Award, Participant agrees to participate in the Plan through an on-line or electronic system
established and maintained by the Company or a third party designated by the Company, and consents to the electronic delivery of the Award Agreement, the Plan, account statements, Plan prospectuses, and all other documents, communications, or
information related to the PSU Award and current or future participation in the Plan. Electronic delivery may include the delivery of a link to the Company’s internal SharePoint website or the internet site of a third party involved in
administering the Plan, the delivery of the document via e-mail, or such other delivery determined at the Company’s discretion. Participant may receive from the Company a paper copy of any documents
delivered electronically at no cost if Participant contacts the Company by telephone, through a postal service, or electronic mail to Stock Administration. 

12. LANGUAGE  
 Participant acknowledges that Participant
is proficient in the English language and, accordingly, understands the provisions of this Award Agreement and the Plan. If Participant has received this Award Agreement, or any other document related to the PSU Award and/or the Plan translated into
a language other than English and if the meaning of the translated version is different than the English version, the English version will control. 
 13.
IMPOSITION OF OTHER REQUIREMENTS  
 The Company reserves the right to impose other requirements on Participant’s participation in the Plan, on
the PSU Award, and on any cash payment delivered upon exercise of the PSU Award, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require Participant to accept any additional agreements or
undertakings that may be necessary to accomplish the foregoing. 

  
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 14. INSIDER TRADING/MARKET ABUSE LAWS  

Participant may be subject to insider trading restrictions and/or market abuse laws in applicable jurisdictions, including, but not limited to, the United
States, which may affect Participant’s ability to accept, acquire, sell, or otherwise dispose of Shares, rights to Shares (e.g., PSUs), or rights linked to the value of Shares under the Plan during such times as Participant is considered to
have “inside information” regarding the Company (as defined by the laws in the applicable jurisdictions). Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under the
Trading Policy. Neither the Company nor any of its Subsidiaries or Affiliates will be responsible for such restrictions or liable for the failure on Participant’s part to know and abide by such restrictions. Participant should consult with his
or her own personal legal advisers to ensure compliance with local laws. 
 15. NO EMPLOYMENT RIGHT 

Nothing in the Plan, in the Award Agreement or any other instrument executed pursuant to the Plan shall confer upon Participant any right to continue in the
Company’s employ or service nor limit in any way the Company’s right to terminate Participant’s Continuous Service at any time for any reason. 

  
 5EX-10.12

 Exhibit 10.12 

FiscalNote Holdings, Inc. 

2022 Long-Term Incentive Plan 

NOTICE OF RESTRICTED STOCK UNIT AWARD 

FiscalNote Holdings, Inc. (“Company”) has awarded to you (“Participant”) restricted stock units
(“RSUs”) covering the number of Shares set forth below (the “RSU Award”) under the FiscalNote Holdings, Inc. 2022 Long-Term Incentive Plan (the “Plan”). Your
“Award Agreement” applicable to the RSUs consists of (a) this Notice of Restricted Stock Unit Award (this “Notice”), and (b) the attached Standard Terms and Conditions for Restricted Stock
Units (RSUs) (the “RSU Terms and Conditions”). Capitalized terms used but not defined in this Award Agreement will have the same meanings specified in the Plan. 

 

			
	Name of Participant:	  	  

		
	Grant Date:	  	  

		
	Grant ID:	  	  

		
	Number of RSUs:	  	  

		
	Country at Grant:	  	United States
		
	Vesting Commencement Date:	  	  

		
	Vesting Schedule:	  	.

 By accepting (whether electronically or otherwise) the RSU Award, you acknowledge and agree to the following: 

 

	1.	 The RSU Award is governed by the terms and conditions of this Award Agreement and the Plan. In the event of a
conflict between the terms of the Plan and this Award Agreement, the terms of the Plan will prevail. 

  

	2.	 You have received a copy of the Plan, this Award Agreement, the Plan prospectus, and the FiscalNote Holdings,
Inc.Insider Trading Policy (“Trading Policy”), and represent that you have read these documents and are familiar with their terms. You further agree to accept as binding, conclusive, and final all decisions and
interpretations of the Committee regarding any questions relating to the RSU Award and the Plan. 

  

	3.	 Vesting of the RSUs is subject to your Continuous Service as an Employee, Director, or Consultant, which is for
an unspecified duration and may be terminated at any time, with or without Cause, and nothing in this Award Agreement or the Plan changes the nature of that relationship. 

 

	4.	 The Company is not providing any tax, legal, or financial advice, nor is the Company making any recommendations
regarding participation in the Plan. You should consult with your own personal tax, legal, and financial advisors regarding participation in the Plan before taking any action related to the Plan. 

 

	5.	 If you do not accept or decline this RSU Award within 90 days of the
Grant Date or by such other date that may be communicated to you by the Company, the Company will accept this RSU Award on your behalf and you will be deemed to have accepted the terms and conditions of the RSUs set forth in the Plan and this Award
Agreement and you must sign any future agreements related to this RSU Award as and when requested by the Company or this RSU Award will be forfeited without consideration. If you wish to decline this RSU Award, you should promptly notify the Company
at its principal place of business, Attention: Stock Administration, or by electronic mail benefits@fiscalnote.com. If you decline this RSU Award, the RSUs will be cancelled and no benefits from the RSUs nor any compensation or benefits in
lieu of the RSUs will be provided to you. 

  
 1 

 IN WITNESS WHEREOF, the Company has caused this Notice to be executed by its duly authorized officer.

  

	
	FISCALNOTE HOLDINGS, INC.
	
	  

	Name
	Title

 [Participant Signature page follows on the reverse side of this Notice] 

  
 2 

 PARTICIPANT’S ACCEPTANCE 

The undersigned hereby accepts the foregoing RSU Award and agrees to the terms and conditions of the Award Agreement and the Plan. The undersigned hereby
acknowledges receipt of the attached Standard Terms and Conditions and that a copy of the Plan is available on the Company’s internal SharePoint website. 

 

	
	PARTICIPANT
	
	  

	Signature

  
 3 

 FiscalNote Holdings, Inc. 

2022 Long-Term Incentive Plan 

STANDARD TERMS AND CONDITIONS FOR 

RESTRICTED STOCK UNITS (RSUs) 
  

	1.	 GRANT OF RESTRICTED STOCK UNITS 

A restricted stock unit (“RSU”) is a non-voting unit of measurement that is deemed solely for bookkeeping
purposes to be equivalent to one outstanding Share. The RSUs are used solely as a device to determine the number of Shares to eventually be issued to Participant if such RSUs vest. The RSUs shall not be treated as property or as a trust fund of any
kind. 
  

	2.	 SETTLEMENT 

(a) On or as soon as administratively practical (and within thirty (30) days) following the applicable date of vesting under the Vesting
Schedule set forth in the Notice (a “Vesting Date”), and subject to the Participant remaining in Continuous Service through the applicable Vesting Date, the Company will deliver to Participant a number of Shares (either by delivering one
or more certificates for such Shares or by entering such Shares in book entry form, as determined by the Company in its discretion) equal to the number of RSUs subject to the RSU Award that vest on the applicable Vesting Date, subject to the
satisfaction of any applicable withholding obligations for Tax-Related Items (defined below). No fractional RSUs or rights for fractional Shares shall be created pursuant to this Agreement. 

(b) The Company reserves the right to issue to Participant the cash equivalent of Shares, in part or in full satisfaction of the delivery of
Shares, upon vesting of the RSUs, and to the extent applicable, references in this Award Agreement to Shares issuable in connection with the RSUs will include the potential issuance of its cash equivalent pursuant to such right. 

 

	3.	 DIVIDEND AND VOTING RIGHTS 

Unless and until such time as Shares are issued in settlement of vested RSUs, Participant will have no ownership of the Shares allocated to the RSUs, and will
have no rights to vote such Shares and no rights to dividends nor any payment, payment-in-kind or any equivalent with regard to any cash or other dividends that are
declared and paid on Shares. 
  

	4.	 LIMITED TRANSFERABILITY OF RSUs 

Except as provided in this Agreement, the RSUs and any interest therein may not be sold, assigned, transferred, pledged, hypothecated, or otherwise disposed of
in any manner other than by will or by the laws of descent or distribution or court order, and any permitted transferee shall be bound by all of the terms and conditions of the Plan and this Award Agreement. In accordance with procedures established
by the Committee, the Participant may make gratuitous transfers of the RSUs to trusts or other entities for estate planning purpose where Family Members (defined below) have more than fifty percent of the beneficial or voting interests of such
trusts or entities. “Family Member” means the Participant’s child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew,
mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, sister-in-law, including adoptive relationships, and any person sharing the Participant’s household (other than a tenant or employee). The terms of the Plan and this
Award Agreement will be binding upon the executors, administrators, heirs, successors, and assigns of Participant.     
  

	5.	 TERMINATION 

The Committee shall have the exclusive discretion to determine when Participant is no longer actively providing services for purposes of his or her RSU Award
(including whether Participant may still be considered to be providing services while on a leave of absence). 

  
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 (a) Cause. In the event that Participant’s Continuous Service is terminated for
Cause, as of the date of such termination all RSUs shall cease to vest and any outstanding RSUs and vested RSUs that have yet to settle (pursuant to Section 2 of these RSU Terms and Conditions) shall immediately be forfeited to the Company, and
all rights of Participant to such RSUs will immediately terminate without payment of consideration by the Company. 
 (b) Other.
Unless the Committee determines otherwise, in the event that Participant’s Continuous Service terminates for any reason other than for Cause, as of the date of such termination all RSUs shall cease to vest and (except for any vested RSUs that
have yet to settle, pursuant to Section 2 of these RSU Terms and Conditions) shall immediately be forfeited to the Company and all rights of Participant to such RSUs will immediately terminate without payment of consideration by the Company.

  

	6.	 TAXES 

(a) Responsibility for Taxes. By accepting this RSU Award, Participant acknowledges that, regardless of any action taken by the
Company or, if different, any Affiliate that employs Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account, employment tax, stamp tax
or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant, including any employer liability for which the Participant is liable (the
“Tax-Related Items”) is and remains Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. Participant further acknowledges that
the Company and/or the Employer (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the RSU Award, including, but not limited to,
the grant, vesting, or settlement of the RSU Award, the subsequent sale of Shares acquired pursuant to such settlement, and the receipt of any dividends, and (ii) do not commit to and are under no obligation to structure the terms of the grant
or any aspect of the RSU Award to reduce or eliminate Participant’s liability for Tax-Related Items or achieve any particular tax result. Further, if Participant is subject to Tax-Related Items in more than one jurisdiction, as applicable, Participant acknowledges that the Company and/or the Employer may be required to withhold or account for
Tax-Related Items in more than one jurisdiction. Participant agrees to pay to the Company or the Employer any amount of Tax-Related Items that the Company or the
Employer may be required to withhold or account for as a result of Participant’s participation in the Plan that cannot be satisfied by the means described in this Section. The Company may refuse to issue or deliver the Shares, or the proceeds
of the sale of Shares, if Participant fails to comply with Participant’s obligations in connection with the Tax-Related Items. 

(b) Withholding. Prior to the relevant taxable or tax withholding event, as applicable, Participant agrees to make adequate
arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. 
 Withholding for Tax-Related Items will be made in accordance with Section 8 of the Plan and such rules and procedures as may be established by the Committee, and in compliance with the Trading Policy, if applicable. In the
event the Company or the Employer withholds more than the Tax-Related Items using one of the methods described above, Participant may receive a refund of any over-withheld amount in cash but will have no
entitlement to the Shares sold or withheld. If the withholding obligation is satisfied by withholding in Shares, for tax purposes, Participant will be deemed to have been issued the full number of vested Shares underlying the RSUs, notwithstanding
that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items. No fractional Shares will be withheld or issued pursuant to the settlement of the RSUs and the Tax-Related Items thereunder. 
  

	7.	 CODE SECTION 409A 

It is intended that the terms of the RSU Award will not result in the imposition of any tax liability pursuant to Section 409A of the Code, and this Award
Agreement shall be construed and interpreted consistent with that intent. Payments pursuant to this RSU Award are intended to constitute separate payments for purposes of Section 409A of the Code. 

  
 5 

	8.	 GOVERNING LAW AND VENUE 

This Award Agreement shall be governed by and construed and interpreted in accordance with the laws of the State of Delaware, without giving effect to
principles of conflicts of law. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant or this Award Agreement, the parties hereby submit to the exclusive jurisdiction
of the State of Delaware and agree that such litigation shall be conducted only in the courts of Delaware, or the federal courts for the United States for Delaware, and no other courts, where this grant is made and/or to be performed. 

 

	9.	 ENTIRE AGREEMENT; ENFORCEMENT OF RIGHTS 

This Award Agreement, together with the Plan, sets forth the entire agreement and understanding of the parties relating to the subject matter herein and
supersedes all prior discussions, agreements, commitments, or negotiations between the parties. Except as otherwise permitted by the Plan, no modification of, or amendment to, this Award Agreement, nor any waiver of any rights under this Award
Agreement, will be effective unless in writing and signed by the parties to this Award Agreement (which may be electronic). The failure by either party to enforce any rights under this Award Agreement will not be construed as a waiver of any rights
of such party. 
  

	10.	 SEVERABILITY 

If one or more provisions of this Award Agreement are held to be unenforceable under Applicable Law, the parties agree to renegotiate such provision in good
faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (a) such provision shall be excluded from this Award Agreement, (b) the balance of this Award Agreement shall be
interpreted as if such provision were so excluded, and (c) the balance of this Award Agreement shall be enforceable in accordance with its terms. 
  

	11.	 CONSENT TO ELECTRONIC DELIVERY AND PARTICIPATION 

By accepting this RSU Award, Participant agrees to participate in the Plan through an on-line or electronic system
established and maintained by the Company or a third party designated by the Company, and consents to the electronic delivery of the Award Agreement, the Plan, account statements, Plan prospectuses, and all other documents, communications, or
information related to the RSU Award and current or future participation in the Plan. Electronic delivery may include the delivery of a link to the Company’s internal SharePoint website or the internet site of a third party involved in
administering the Plan, the delivery of the document via e-mail, or such other delivery determined at the Company’s discretion. Participant may receive from the Company a paper copy of any documents
delivered electronically at no cost if Participant contacts the Company by telephone, through a postal service, or electronic mail to Stock Administration. 
  

	12.	 LANGUAGE 

Participant acknowledges that Participant is proficient in the English language and, accordingly, understands the provisions of this Award Agreement and the
Plan. If Participant has received this Award Agreement, or any other document related to the RSU Award and/or the Plan translated into a language other than English and if the meaning of the translated version is different than the English version,
the English version will control. 
  

	13.	 IMPOSITION OF OTHER REQUIREMENTS 

The Company reserves the right to impose other requirements on Participant’s participation in the Plan, on the RSU Award, and on any cash payment
delivered upon exercise of the RSU Award, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require Participant to accept any additional agreements or undertakings that may be necessary to
accomplish the foregoing. 

  
 6 

	14.	 INSIDER TRADING/MARKET ABUSE LAWS 

Participant may be subject to insider trading restrictions and/or market abuse laws in applicable jurisdictions, including, but not limited to, the United
States, which may affect Participant’s ability to accept, acquire, sell, or otherwise dispose of Shares, rights to Shares (e.g., RSUs), or rights linked to the value of Shares under the Plan during such times as Participant is considered to
have “inside information” regarding the Company (as defined by the laws in the applicable jurisdictions). Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under the
Trading Policy. Neither the Company nor any of its Subsidiaries, or Affiliates will be responsible for such restrictions or liable for the failure on Participant’s part to know and abide by such restrictions. Participant should consult with his
or her own personal legal advisers to ensure compliance with local laws. 
  

	15.	 NO EMPLOYMENT RIGHT 

Nothing in the Plan, in the Award Agreement or any other instrument executed pursuant to the Plan shall confer upon Participant any right to continue in the
Company’s employ or service nor limit in any way the Company’s right to terminate Participant’s Continuous Service at any time for any reason. 

  
 7

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