Document:

Exhibit 10.9

 

CONTRACT OF EMPLOYMENT

 

between

 

Wejo UK Ltd

 

of

 

ABC Building, 21-23 Quay Street, Manchester, England, M3 4AE

 

and

 

	NAME	Richard
    Barlow (“you”)
	 	Spurstow
    Hall
	ADDRESS	Long
    Lane
	Spurstow
	 	Cheshire
	 	CW6
    9RF
	JOB
    TITLE	Chief
    Executive Officer
	COMMENCEMENT
    DATE	01
    July 2021
	CONTINUOUS
    SERVICE DATE	09
    January 2014
	END
    DATE	Not
    applicable

 

 

 

Level 1

 

     

     

    

 

Recitals:

 

(A) WHEREAS,
you and the Company entered a service agreement with you on 9 January 2014, as amended by an addendum dated 1 April 2021 (the “Original
Service Agreement”).

 

(B)  WHEREAS,
Wejo Group Limited, an exempted company limited by shares incorporated under the Laws of Bermuda (the “Parent”),
the Company and Virtuoso Acquisition Corp., a Delaware corporation, among others, have entered into an agreement and plan of merger (the
 “Merger Agreement”) pursuant to which the business combination (as defined in the Merger Agreement, the “Business
Combination”) will occur.

 

(C)  WHEREAS, following
the closing of the Business Combination, the Company is a wholly owned subsidiary of the Parent.

 

(D) WHEREAS,
following (and conditional upon) the closing of the Business Combination, the Company desires to employ you and you desire to be employed
by the Company on the terms set forth in this agreement. The recitals (above) form part of this agreement.

 

The headings in this agreement are inserted for
convenience only and shall not affect its construction.

 

Definitions are listed in Schedule B.

 

You must refer to the Company’s
relevant policies and procedures in all cases. These will be made available to you, but you must take it upon yourself to seek further
guidance or clarification from People Services if you are unclear in any way.

 

	1.	Term of Employment 

 

		1.1.	Your employment with Wejo UK Limited, a company incorporated and registered in England and Wales with
registered number 08813730 and whose registered office address is at ABC Building, 21-23 Quay Street, Manchester, England M3 4AE (the
 “Company”, “us” or “we”) under this agreement shall commence on the Commencement
Date and shall continue, subject to the remaining terms of this agreement, until terminated by either party giving the required notice
in clause 11.

 

		1.2.	Your previous employment with the Company, which commenced on the Continuous Service
Date, counts towards your period of continuous employment with the Company.

 

		1.3.	You consent to the transfer of your employment under this agreement (the “Employment”)
to a Group Company at any time during the term of the Employment.

 
	2.	Duties

 
	 	2.1.	You shall serve the Company in the role of Chief Executive Officer.

 

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		2.2.	During the employment you shall:

 

		2.2.1.	unless prevented by Incapacity, devote the whole of your time, attention and abilities
to the business of the Company or any Group Company where applicable;

 

		2.2.2.	diligently exercise such powers and perform such duties as may from time to time be
assigned to you by the Company;

 

		2.2.3.	comply with all reasonable and lawful directions given to you by the Company;

 

		2.2.4.	if so, required by the Company, act as a director or officer of (and/or provide services
to) any Group Company from time to time;

 

		2.2.5.	abide by your fiduciary duties to any Group Company of which you are a director from
time to time;

 

		2.2.6.	not do anything that would cause you to be disqualified from acting as a director;

 

		2.2.7.	promptly make such reports to the Board in connection with the affairs of the Company
or any Group Company on such matters and at such times as are reasonably required;

 

		2.2.8.	report your own wrongdoing and any wrongdoing or proposed wrongdoing of any other employee or director
of the Company or Group Company to the Board immediately on becoming aware of it;

 

		2.2.9.	use your best endeavours to promote, protect, develop and extend the business of the
Company and/or Group Company; and

 

		2.2.10.	consent to the Company and/or Group Company monitoring and recording any use that
you make of the Company’s electronic communications systems for the purpose of ensuring that the Company’s rules
are being complied with and for legitimate business purposes.

 

		2.3.	You shall comply with all and any of the Company’s policies and procedures
as provided and made available. Information in the Company’s Employee Handbook (the “Handbook”) does not form
part of this agreement and the Company may amend it at any time. To the extent that there is any conflict between the terms of this agreement
and the Handbook, this agreement shall prevail.

 

		2.4.	All documents, manuals, hardware and software provided for your use by the Company,
and any data or documents (including copies) produced, maintained or stored on the Group’s computer systems or other electronic
equipment (including mobile phones), remain the property of the Company or the relevant Group Company (as applicable).

 

		2.5.	Notwithstanding the provisions of clause 2.2, the Company may, at any time, require
you to resign from any or all offices, including directorships of any Group Company.

 

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	3.	Place of work

 

	 	3.1.	Your normal place of work is at the Company’s Chester office or such other place within 50 miles,
which the Company may, from time to time, reasonably require for the proper performance and exercise of your duties.

 

	 	3.2.	You agree to travel on any Group Company’s business as may be required for the proper performance
of your duties under the Employment.

 

	 	3.3.	It is not envisaged that you will be required to work outside the United Kingdom for any continuous period
of more than one month during the term of the Employment, although you acknowledge and agree that this may from time to time be required
for the proper performance and exercise of your duties.

 

	4.	Hours of work 

 

There are no normal hours of work applicable
to the Employment. You shall work such hours as are necessary for the proper performance of your duties. You shall not receive any further
remuneration for work outside of the Company’s normal office hours.

 

	5.	Salary 

 

	 	5.1.	You shall be paid a basic salary of USD 600,000 per annum (your “Basic Salary”) (paid
at the equivalent GBP rate). Basic Salary will be paid in equal monthly instalments in arrears, on or around the last day of the month
by credit transfer to your bank account.

 

	 	5.2.	Your Basic Salary shall be reviewed by the Board from time to time. The Company is under no obligation
to award an increase following a review. There will be no review of your Basic Salary if notice has been given by either party to terminate
the Employment.

 

	 	5.3.	The Basic Salary shall be subject to deductions for income tax, National Insurance contributions and/or
any other deductions required by applicable law. The Company may deduct from your Basic Salary, and/or any other sums owed to you by the
Company, any money owed to the Company by you.

 
	 	5.4.	During the term of the Employment, you may incur
    taxes payable in the United States of America as a result of your travel and work in the United States of America under clause 3.2
    (the “US Tax”). In addition to, and not part of Basic Salary, the Company shall make a payment (the “Gross-up
    Payment”) equal to the sum of the US Tax payable by Executive, plus the amount necessary to put you in the same after-tax
    position (taking into account any and all applicable federal, state, local and foreign income, employment and excise taxes (including
    the US Tax and any income and employment taxes imposed on the Gross-up Payment)) that you would have been in if you had not incurred
    any tax liability in the United States of America, provided that such payment shall not be required to the extent that you are permitted
    to claim a credit for the US Tax to reduce your tax liability in the United Kingdom. Payments under this clause 5.4 will be subject
    to validation by the Company and Board approval.

 

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	6.	Incentive Opportunities 

 

You shall be entitled to the incentive
awards set out in Schedule A.

 

	7.	Benefits 

 

	 	7.1.	You may be eligible for certain other benefits as set out in the Company’s benefits
schedule, as amended from time to time, and subject to you complying with any qualifying conditions and other requirements and subject
to the rules of the relevant schemes in each case as amended from time to time. The benefits schedule is available from People Services.
The Company may replace or withdraw any or all benefits, or amend the terms of such benefits, at any time.

 

	 	7.2.	Notwithstanding the above, you shall be entitled to participate during the Employment
in the following benefit schemes taken out and maintained by the Company:

 

		7.2.1.	a private medical insurance scheme for the benefit of you and your immediate family; and

 
	 	7.2.2.	a Life insurance scheme, which shall, subject to the rules of the relevant scheme as amended from time to time, pay to your dependents
a sum equal to no less than three times your gross Basic Salary if you die during the Employment, 

 

subject always to you complying with
any qualifying conditions and other requirements and subject always to the rules of the relevant schemes in each case as amended from
time to time.

 

	8.	Training 

 

	 	8.1.	During the Employment:

 

		8.1.1.	You must complete mandatory compliance training such as Information Security and GDPR,
which will be provided for by the Company. Further details of this training are available from People Services.

 

		8.1.2.	You are eligible to take part in various training courses, which the Company may provide from time to
time in-house or externally. Specific details will be provided, as and when such training becomes available.

 

	9.	Holidays 

 

	 	9.1.	You shall be entitled to 30 days’ paid
holiday in each holiday year together with the usual public holidays. The Company’s holiday year runs between 1st
January and 31st December. If the Employment commences or
terminates part way through a holiday year, your entitlement during that holiday year shall be calculated on a pro-rata basis rounded
up to the nearest whole day. 

 

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	 	9.2.	Holiday shall be taken at such time or times as shall be approved in advance by the
Board. You shall not, without the consent of the Company, carry forward any accrued but untaken holiday entitlement to the following holiday
year unless approved and you have been unavoidably prevented from taking such holiday during the relevant leave year because of sickness
absence or a statutory provision or other substantial reasons acknowledged by the Company.

 

	 	9.3.	The Company shall not normally pay you in lieu of untaken holiday except on Termination. On Termination,
we shall pay you in lieu of any accrued but untaken holiday for the holiday year in which Termination takes place and any untaken days
permitted to be carried forward from the preceding holiday year. The amount of the payment in lieu will be calculated as 1/260th of your
Basic Salary for each untaken day of the entitlement.

 

	 	9.4.	If, on Termination, you have taken in excess of your accrued holiday entitlement, the Company shall be
entitled to recover from you by way of deduction from any payments due to you or otherwise one day’s pay (calculated at 1/260th
of your Basic Salary) for each excess day.

 

	 	9.5.	If either party has served notice to terminate the Employment, the Company may require
you to take any accrued but unused holiday entitlement during the notice period.

 

	10.	Other Paid Leave 

 

	 	10.1.	You may be eligible to take other paid leave, including adoption leave, paternity
leave, parental leave, shared parental leave, dependants leave, bereavement leave, training and study leave, compassionate leave, and
leave for public duties, in accordance with the Company’s current policies, as amended from time to time, subject to your
being eligible under and complying with the relevant statutory and other conditions and requirements in order to be entitled to the leave
and pay. Copies of our policies are available from People Services and subject to any statutory eligibility requirements or conditions
and the Company’s rules applicable to each type of leave in force from time to time.

 

	 	10.2.	The Company may replace, amend or withdraw any or all of such leave and/or applicable
policies at any time.

 

	11.	Notice of Termination 

 

	 	11.1.	You must provide to the Company not less than 12 months’ prior written
notice to terminate the Employment.

 

	 	11.2.	You are entitled to receive from the Company not less than 12 months’ prior
written notice to terminate the Employment.

 

	12.	Payments on termination 

 
	 	12.1.	Notwithstanding clause 11, the Company may, in its
    sole and absolute discretion, terminate the Employment at any time and with immediate effect by notifying you that the Company is
    exercising its right under this clause 12.1 and that the Company will, within 28 days of such notice, make to you a payment in lieu
    of notice (“Payment in Lieu”). The Payment in Lieu will be equal to the aggregate of the following, as calculated
    by the Company:

 

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		12.1.1.	the Basic Salary which you would have been entitled to receive under this agreement
during the notice period referred to in clause 11 (or, if notice has already been given, during the remainder of the notice period);

 

		12.1.2.	the cost to the Company (excluding the cost of employer’s National Insurance contributions) of providing
you with the following employment benefits during the notice period referred to in clause 11 (or, if notice has already been given, during
the remainder of the notice period): life insurance; employer pension contributions (if any); and (if, in the Company’s opinion,
it is not possible or reasonably commercially practicable, for the Company to continue such cover for the benefit of you and your immediate
family during the notice period (or, as applicable, the remainder thereof) and if the Company does not so continue such cover during such
period), private medical insurance;

 

		12.1.3.	the amount of the Discretionary Annual Bonus which you would have been entitled to
receive under this agreement in respect of the notice period referred to in clause 11 (or, if notice has already been given, during the
remainder of the notice period), calculated at the level of 100% of your Basic Salary; and

 
	 	12.1.4.	payment of salary in respect of holiday entitlement that would have accrued during the period for which the Payment in Lieu is made, 

 

subject to deductions for income tax, National Insurance contributions and/or any other deductions required by applicable law.

 

	 	12.2.	Please refer to clause 3.2 of Schedule A for details of the treatment of unvested
equity-based compensation awards on Termination.

 

	13.	Absence due to sickness or injury 

 

	 	13.1.	In the event of your absence for whatever reason you or, in extreme circumstances, someone on your behalf
should contact People Services as soon as possible on the first day of the absence to inform them of the reason for your absence. You
are subsequently required to keep the Company informed on an ongoing/daily basis as to your situation.

 

	 	13.2.	If the absence is due to sickness, you will be required to complete a self-certification
on your return to work, for absences of up to 7 calendar days.

 
	 	13.3.	A medical certificate signed by your doctor as to the reason for your absence must be received if you are absent for any period of 7
consecutive days or more. You must provide further doctor’s certificates as necessary to cover the full period of continued absence.

 

	 	13.4.	Any failure to comply with the notification requirements set out in this statement
may affect your entitlement to sick pay.

 

	 	13.5.	You agree to consent to medical examinations (at the Company’s expense) by a doctor or medical professional
nominated by the Company should the Company so require.

 

	 	13.6.	The rights of the Company to terminate the Employment under the terms of this agreement
apply even when such termination would or might cause you to forfeit any entitlement to sick pay, health insurance or other benefits.

 

	14.	Sick Pay 

 

	 	14.1.	If you are absent from work due to Incapacity you will, subject to clause 13.4, be
entitled to receive your Basic Salary for up to six months in aggregate of such absence in any 12-month period, provided you have complied
with Company and statutory requirements for notification of absence.

 

	 	14.2.	Your entitlement to pay in the event of Incapacity shall not prejudice the Company’s
right to terminate the Employment on the grounds of capability.

 

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	15.	Disciplinary and grievance procedures 

 

	 	15.1.	As a condition of the Employment, you are subject to and are required to comply with
all and/or any rules and regulations applicable that may from time to time be in force and to become thoroughly acquainted with those
rules and regulations relevant to your work.

 

	 	15.2.	Under its disciplinary procedure, the Company has the right to suspend you from your duties on such terms
and conditions as it shall determine for the purpose of carrying out an investigation into any allegation of misconduct or negligence
or any allegation of bullying, harassment or discrimination against another employee pending a disciplinary hearing. The Company shall
continue to pay Basic Salary and provide all other contractual benefits to you during any period of suspension.

 

	16.	Pension 

 

	 	16.1.	The Company will auto-enrol you into a pension scheme, in accordance with its pensions
auto-enrolment obligations and qualifying periods.

 

	 	16.2.	Full details of the scheme will be given to you when you are enrolled, including the
minimum level of contributions that you will be required to make during your membership and your right to opt out if you do not want to
be a member of the scheme. While participating in the scheme, you agree to worker pension contributions being deducted from your Basic
Salary.

 

	 	16.3.	Membership of the scheme is subject to its rules as may be amended from time to time, and the Company
may replace the scheme with another pension scheme at any time.

 

	 	16.4.	If you cease to be a member of the scheme for any reason, the Company will re-enrol
you automatically into a pension scheme as and when required by law.

 

	 	16.5.	Further details about the scheme can be obtained from People Services.

 

	17.	Activities outside of working hours 

 

	 	17.1.	You are required to devote your full time and attention during normal working hours
to the performance of your duties and to act in the best interests of the Company at all times. You must not, at any time during the Employment,
except with the Company’s prior written consent, undertake any work or be in any way concerned or interested in any business or
activity, which may, in the Board’s opinion adversely affect the proper performance of your duties.

 

	 	17.2.	In any event, you shall not, at any time during the Employment, except with the Board's prior written
approval, whether paid or unpaid, be directly or indirectly engaged, concerned or have any financial interest as agent, consultant, director,
employee, owner, partner, shareholder or in any other capacity in any other business, trade, profession or occupation (or the setting
up of any business, trade, profession or occupation) that is (or plans to be) in competition with the Group (or any part thereof), subject
to your right to hold an investment by way of shares or other securities of not more than 5% of the total issued share capital of any
company (other than any Group Company), whether or not it is listed or dealt in on a recognised stock exchange.

 

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	18.	Confidential information 

 

	 	18.1.	Without prejudice to your common law duties, you shall not, except in the proper course
of your duties, as authorised or required by law or as authorised by the Company, either during the employment or at any time after termination
of the employment:

 

		18.1.1.	use any Confidential Information; or

 

		18.1.2.	make or use any Copies; or

 

		18.1.3.	disclose any Confidential Information to any person, company or other organisation
whatsoever.

 

	 	18.2.	This restriction does not apply to any Confidential Information which is or comes
into the public domain other than through your unauthorised disclosure.

 

	 	18.3.	You shall be responsible for protecting the confidentiality of Confidential Information and shall:

 
	 	18.3.1.	use your best endeavours to prevent the use or communication of any Confidential Information by any person, company or organisation (except
in the proper course of your duties, as required by law or as authorised by the Company; and

 

		18.3.2.	inform the Company immediately on becoming aware, or suspecting, that any such person,
company or organisation knows or has used any Confidential Information.

 

	 	18.4.	All Confidential Information and Copies shall be the property of the Company or relevant
Group Company (as applicable) and on Termination, or at the request of the Company, at any time during the employment, you shall:

 

		18.4.1.	hand over all Confidential Information or Copies to the Company or relevant Group
Company (as applicable);

 

		18.4.2.	irretrievably delete any Confidential Information stored on any device, disk or memory,
including personal computer networks, personal e-mail accounts or personal accounts on websites, and all matter derived from such sources
which is in your possession or under your control outside the Company’s premises; and

 

		18.4.3.	provide a signed statement that you have complied fully with your obligations relating
to Confidential Information.

 

	 	18.5.	Nothing in this clause 18 shall prevent you from making a protected disclosure within
the meaning of section 43A of the employment Rights Act 1996.

 

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	19.	Intellectual Property 

 

	 	19.1.	You acknowledge that all Employment IPRs, Employment Inventions and all materials
embodying them shall automatically belong to the Company to the fullest extent permitted by law. To the extent that they do not vest in
the Company automatically, you hold them on trust for the Company.

 

	 	19.2.	You acknowledge that, because of the nature of your duties and the particular responsibilities arising
from the nature of your duties, you have and shall have at all times while you are employed by the Company, a special obligation to further
the interests of the Company.

 

	 	19.3.	To the extent that legal title in any Employment IPRs or Employment Inventions does
not vest in the Company by virtue of clause 19.1 or otherwise, you agree to execute promptly all documents and do promptly all acts as
may, in our opinion, be necessary to vest such legal title in us.

 

	 	19.4.	You agree:

 

		19.4.1.	to give the Company full written details of all Employment Inventions which relate
to or are capable of being used in the business of any Group Company promptly on their creation;

 

		19.4.2.	at the Company’s request and in any event on Termination to give to the Company
all originals and copies of correspondence, documents, papers and records on all media which record or relate to any of the Employment
IPRs;

 

		19.4.3.	not to attempt to register any Employment IPR nor patent any Employment Invention
unless requested to do so by the Company; and

 

		19.4.4.	to keep confidential each Employment Invention unless the Company has consented in
writing to its disclosure by you.

 

	 	19.5.	You waive all your present and future moral rights which arise under the Copyright
Designs and Patents Act 1988, and all similar rights in other jurisdictions relating to any copyright which forms part of the Employment
IPRs, and agree not to support, maintain or permit any claim for infringement of moral rights in such copyright works.

 

	 	19.6.	You acknowledge that, except as provided by law, no further remuneration or compensation
other than that provided for in this agreement is or may become due to you in respect of your compliance with this clause 19. This clause
19 is without prejudice to your rights under the Patents Act 1977.

 

	 	19.7.	You undertake to use your best endeavours to execute all documents and do all acts both during and after
the Employment as may, in the opinion of the Company, be necessary or desirable to vest the Employment IPRs in any Group Company, to register
them in the name of the Company or any Group Company and to protect and maintain the Employment IPRs and the Employment Inventions. Such
documents may, at the Company’s request, include waivers of all and any statutory moral rights relating to any copyright works which
form part of the Employment IPRs. The Company agrees to reimburse your reasonable expenses of complying.

 

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	 	19.8.	You agree to give all necessary assistance to any Group Company to enable it to enforce
its Intellectual Property Rights against third parties, to defend claims for infringement of third-party Intellectual Property Rights
and to apply for registration of Intellectual Property Rights, where appropriate throughout the world, and for the full term of those
rights.

 

	 	19.9.	You hereby irrevocably and unconditionally appoint the Company to be your attorney
in your name and on your behalf to execute any and all agreements, instruments, deeds and other documents, use your name and do all things
which are or may be necessary or desirable to implement your obligations under (and for any Group Company to obtain for itself or its
nominee the full benefit of) this clause 19 and also clause 2.5. You acknowledge that a certificate in writing, signed by any director
or the secretary of the Company, that any instrument or act falls within the authority conferred by this agreement shall be conclusive
evidence that such is the case, so far as any third party is concerned.

 
	 	19.10.	On Termination, at the commencement of any period of Garden Leave or at any time during the Employment at the request of the Company
you will disclose all Employment Inventions and all materials (in any form, whether hard/paper copy, electronic, digital or otherwise)
on which you have been working during the term of the Employment in which any Intellectual Property Rights will or might fall within
the scope of Employment IPRs.

 

	 	19.11.	You will provide any necessary decryption information and passwords to allow the Company
to assess whether anything disclosed includes Employment IPRs.

 

	 	19.12.	Where such material is material in which any Group Company owns Employment IPRs, you will give the Company
or Group Company all assistance requested by the Company to identify, hand over to the Company or at the Company’s option securely
and effectively delete all copies in both source and object code and all relevant commentary and documentation relating to material in
which the Company or any Group Company owns Employment IPRs so that no copies of the same (in whole or in part) remain within your possession,
custody or control or that of any third party not connected with the Company or any Group Company.

 

	20.	Termination without notice 

 

	 	20.1.	The Company may terminate the Employment at any time:

 

		20.1.1.	with immediate effect without notice and with no liability to make any additional
payment to you, if you:

 

		(a)	are guilty of any gross misconduct affecting the business of any Group Company (a
non-exhaustive list is available in the Company’s disciplinary policy).

 

		(b)	commit any serious or repeated breach or non-observance of any of the provisions of
this agreement or refuse or neglect to comply with any reasonable and lawful directions of the Company and/or Group Company;

 

		(c)	are disqualified from acting as a director or resign as a director from any Group
Company without the prior written approval of the Board;

 

		(d)	are declared bankrupt or makes any arrangement with or for the benefit of your creditors
or has a county court administration order made against you under the County Court Act 1984;

 

		(e)	are convicted of any criminal offence other than an offence under any road traffic
legislation for which a fine or non-custodial penalty is imposed, unless such an offence compromises your ability to carry out your role;

 

		(f)	become of unsound mind (which includes lacking capacity under the Mental
                                                                 Capacity Act 2005), or a patient under any statute relating to mental health;

 

		(g)	cease to be eligible to work in the United Kingdom;

 

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		(h)	are guilty of any fraud or dishonesty or acts in any manner which is materially adverse
to the interests of any Group Company;

 

		(i)	are guilty of a serious breach of this agreement or any rules or policies issued by
the Company from time to time; or

 

		20.1.2.	by giving to you not less than six months’ prior written notice if you have
been prevented by Incapacity from performing your duties under this agreement for a period or periods aggregating at least 183 days in
the preceding period of 12 consecutive months provided that if, at any time during the period of such notice and before Termination, you
shall provide a medical certificate satisfactory to the Board to the effect that you have fully recovered your physical or mental health
and that no recurrence of such Incapacity can reasonably be anticipated, the Company shall withdraw the notice.

 

	21.	Obligations on Termination 

 

		21.1.	On Termination, you shall:

 

		21.1.1.	immediately deliver to the Company all documents, books, materials, records, correspondence,
papers and information (on whatever media and wherever located) relating to the business or affairs of any Group Company or their business
contacts, any keys, credit card and any other property of any Group Company, which is in your possession or under your control;

 

		21.1.2.	irretrievably delete any information relating to the business of any Group Company
stored on any magnetic or optical disk or memory and all matter derived from such sources which is in your possession or under your control
outside the premises of any Group Company; and

 

		21.1.3.	provide a signed statement that you have complied fully with your obligations under
this clause 21.1 together with such reasonable evidence of compliance as the Company may request.

 

	22.	Garden Leave 

 

		22.1.	Once notice of Termination has been given, the Company reserves the right to require you not to carry
out any duties for it or any Group Company or to require that you carry out only certain specified duties.

 

		22.2.	During any period of Garden Leave the Company shall be under no obligation to provide
any work to, or vest any powers in you, you shall have no right to perform any services for the Company.

 

		22.3.	During any period of Garden Leave you shall:

 

		22.3.1.	continue to receive Basic Salary and all contractual employment benefits in the usual way and subject to the terms of any benefit arrangement and
subject always to the other terms of this agreement including (but not limited to) Schedule A;

 

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		22.3.2.	remain an employee of the Company and bound by the terms of this agreement;

 

		22.3.3.	not, without the prior written consent of the Company, attend your place of work or
any other premises of any Group Company;

 

		22.3.4.	not, without the prior written consent of the Company, contact or deal with (or attempt
to contact or deal with) any officer, employee, consultant, client, customer, supplier, agent, distributor, shareholder, adviser or other
business contact of any Group Company; and

 

		22.3.5.	(except during any periods taken as holiday in the usual way) ensure that the Company
knows where you will be and how you can be contacted during each working day and shall comply with any written requests to contact a specified
employee of the Company at specified intervals.

 

	23.	Post-Termination Restrictions 

 

		23.1.	In order to protect the Confidential Information and business connections of the Company and each Group
Company to which you may have access as a result of the Employment, you covenant with the Company (for itself and as trustee and agent
for each Group Company) that you shall not:

 

		23.1.1.	for 12 months after Termination, solicit or endeavour to entice away from the Company
or any Group Company the business or custom of a Restricted Customer or a Restricted Prospective Customer with a view to providing goods
or services to that Restricted Customer or Restricted Prospective Customer in respect of or in relation to any Restricted Business;

 

		23.1.2.	for 12 months after Termination, be involved with the provision of goods or services to (or otherwise
have any business dealings with) any Restricted Customer or any Restricted Prospective Customer in the course of any business concern
which is involved or concerned in any Restricted Business;

 

		23.1.3.	for 12 months after Termination in the course of any business concern relating to
any Restricted Business, offer to employ or engage or otherwise endeavour to entice away from the Company or any Group Company any Restricted
Person;

 

		23.1.4.	for 12 months after Termination in the course of any business concern involved in
or concerned any Restricted Business, employ or engage or otherwise facilitate the employment or engagement of any Restricted Person,
whether or not such person would be in breach of contract as a result of such employment or engagement;

 

		23.1.5.	for 12 months after Termination, be involved in any Capacity with any business concern
which is (or intends to be) involved or concerned in any Restricted Business;

 

    13

     

    

 

		23.1.6.	for 12 months after Termination, solicit or induce or endeavour to solicit or induce any Restricted Supplier
to cease to deal with the Group and shall not in any way interfere with any relationship between Restricted Supplier and the Group; and/or

 

		23.1.7.	at any time after Termination, represent yourself as connected with the Company or
any Group Company in any Capacity, other than as a former employee, or use any registered names or trading names associated with the Company
or any Group Company.

 

		23.2.	None of the restrictions in this clause 23 shall prevent you from:

 

		23.2.1.	holding an investment by way of shares or other securities of not more than 5% of
the total issued share capital of any company (other than any Group Company), whether or not it is listed or dealt in on a recognised
stock exchange; or

 

		23.2.2.	being engaged or concerned in any business concern insofar as your duties or work shall relate solely
to geographical areas where the business concern is not involved or concerned in any Restricted Business.

 

		23.3.	The restrictions imposed on you by this clause 23 apply to you acting:

 

		23.3.1.	directly or indirectly; and

 

		23.3.2.	on your own behalf or on behalf of, or in conjunction with, any firm, company or person.

 

		23.4.	The periods for which the restrictions in each of clauses 23.1.1 to 23.1.6 (inclusive)
apply shall be reduced by any period that you spend on Garden Leave immediately before Termination.

 

		23.5.	If you receive an offer to be involved in a business concern in any Capacity during
the Employment, or before the expiry of the restrictions set out in clause 23.1, you shall give the person making the offer a copy of
this clause 23 (and the relevant definitions in Schedule B) and shall tell the Company the identity of that person (which, for the avoidance
of doubt, may be a natural person or any firm, company or other legal person) as soon as possible after accepting the offer.

 

		23.6.	If, at any time during the Employment, two or more Restricted Persons have left their employment or engagement
with the Company or any Group Company to perform duties or services for a business concern which is, or intends to be, involved or concerned
in any Restricted Business, you will not at any time during the six months following the last date on which any of those Restricted Persons
were employed or engaged by the Company or any Group Company, be employed or engaged in any way with that business concern under which
you will perform duties or services for or on the behalf of that business concern which involves or may involve competing with the business
of any Group Company.

 

		23.7.	The Company and you enter into the restrictions in this clause 23 having been separately
legally advised.

 

    14

     

    

 

		23.8.	Each of the restrictions in this clause 23 is intended to be separate and severable.
If any of the restrictions shall be held to be void but would be valid if part of their wording were deleted, such restriction shall apply
with such deletion as may be necessary to make it valid or effective.

 

		23.9.	If your Employment is transferred to any firm, company, person or entity other than
a Group Company (the “New Employer”) pursuant to the Transfer of Undertakings (Protection of Employment) Regulations
2006, you will, if required, enter into an agreement with the New Employer containing post-termination restrictions corresponding to those
restrictions in this clause 23 protecting the Confidential Information, trade secrets and business connections of the New Employer.

 

		23.10.	You will, at the request and expense of the Company, enter into a separate agreement with any Group Company
in which you agree to be bound by restrictions corresponding to those restrictions in this clause 23 (or such of those restrictions as
may be appropriate) in relation to that Group Company.

 

	24.	Collective agreements

 

There are no collective agreements applicable to the Employment.

 

	25.	Health and safety

 

You have a legal duty to take reasonable
care of your own health and safety and of others which may be affected by what you do or does not do.

 

	26.	IT / internet / email /social media / mobile devices

 

You agree to adhere to any IT, internet,
e-mail, social media, mobile device policies in place. The Company may at any time monitor or record your use of any such systems or channels
with automatic consent to such monitoring and/or recording taking place.

 

	27.	Data Protection and Monitoring 

 

		27.1.	The Company will collect and process information relating to you in accordance with
the Company’s privacy notice, which is on the Company’s intranet. You shall comply with the Company’s data protection
policies when handling personal data in the course of the Employment including personal data relating to any employee, worker, contractor,
customer, client, supplier or agent of the Group. You will also comply with the Company’s IT-related policies in force from time
to time.

 

		27.2.	The Group’s systems enable the Company to monitor telephone, email, voicemail,
internet and other communications. In order to carry out the Company’s legal obligations as an employer (such as ensuring employee
compliance with the Company’s IT-related policies), and for other business reasons, the Company may monitor use of systems including
the telephone and computer systems, and any personal use of them, by automated software or otherwise.
Monitoring is only carried out to the extent permitted or as required by law and as necessary and justifiable for business purposes.

 

    15

     

    

 

		27.3.	You understand that the authority given to you to access or monitor Group computers
and/or other IT and electronic systems or devices and to use and disclose personal data contained
in them, is limited to that which is permitted under data protection laws and the other relevant policies of the Company.

 

	28.	Cooperation 

 

From and after Termination, you shall
provide reasonable cooperation in connection with any action or proceeding (or any appeal from any action or proceeding) which relates
to events occurring during the Employment, and assist and advise the Company in any investigation which may be performed by the Company,
provided, that the Company shall reimburse you for your reasonable costs and expenses and, to the extent that you are required to spend
substantial time on such matters, the Company shall reasonably compensate you; provided, further, that such cooperation shall not unreasonably
burden you or unreasonably interfere with any subsequent employment you may undertake. In the event you are summonsed (or equivalent)
by any person or entity (including, but not limited to, any government entity) to give evidence or provide documents (in a deposition,
court proceeding, or otherwise), that in any way relates to the Employment, you will give prompt notice of such witness summons (or equivalent)
to the Company and will make no disclosure until the Company has had a reasonable opportunity to contest the right of the requesting person
or entity to such disclosure.

 

	29.	Notices 

 

Any notice to be given under this Agreement
shall be in writing. Notices may be served by either party by personal service or by recorded delivery or by first class post addressed
to the other party or by leaving such notice at (in the case of the Company) its registered office for the time being and (in the case
of the Executive) his last known address as provided by him to the Company and any notice given shall be deemed to have been served at
the time at which the notice was personally served or if sent by recorded delivery at the time of delivery as recorded or if sent by first
class post on the second working day after posting or in the case of being left as appropriate at the registered office or last known
address, the date on which it was so left.

 

	30.	Entire agreement 

 

		30.1.	This agreement and any document referred to in it constitutes the whole agreement
between the parties and supersedes all previous discussions, correspondence, negotiations, arrangements, understandings and agreements
between them concerning your employment with the Company, including (but not limited to) the Original Service Agreement.

 

		30.2.	Each party acknowledges that in entering into this agreement it has not relied on
and shall have no remedy in respect of any Pre-Contractual Statement.

 

    16

     

    

 

		30.3.	Each party agrees that its only liability in respect of those representations and
warranties that are set out in this agreement (whether made innocently or negligently) shall be for breach of contract.

 

		30.4.	Nothing in this agreement shall limit or exclude any liability for fraud.

 

	31.	Third party rights 

 

No person other than a party to this
agreement and any Group Company may enforce any of its terms. The terms of this agreement or any of them may be varied, amended or modified
or this agreement may be suspended, cancelled or terminated by agreement in writing between the parties or this agreement may be rescinded
(in each case), without the consent of any third party.

 

	32.	Employee Warranties 

 

		32.1.	You represent and warrant to the Company that, by entering into this agreement or performing any of your
obligations under it, you will not be in breach of any court order or any express or implied terms of any contract or other obligation
binding on you.

 

		32.2.	You warrant that you are entitled to work in the United Kingdom without any additional
approvals and will notify the Company immediately if you cease to be so entitled during the employment.

 

		32.3.	You warrant that any material used by you in the performance of your duties will not consist or include
material in respect of which any third person (including, without limitation, any previous employer) owns any relevant intellectual property
rights or rights in respect of confidential information and that you will, if so, requested by the Company, fully identify the source
and origin of any material used by you which is not Company material.

 

	33.	Governing law and jurisdiction 

 

		33.1.	This agreement and any dispute or claim arising out of or in connection with it or
its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the
law of England and Wales.

 

		33.2.	The parties irrevocably agree that the courts of England and Wales shall have exclusive
jurisdiction to settle any dispute or claim that arises out of or in connection with this agreement or its subject matter or formation
(including non-contractual disputes or claims).

 

    17

     

    

 

Signed Agreement

 

	 	30.07.2021

 

	Den Power	Date

Chief People Officer

For and on behalf of the Company

 

This agreement (including the powers of attorney given by you) in clause
19.9 has been executed by you as a deed and is delivered on the date stated below.

 	EXECUTED and DELIVERED	)	 
	as a DEED by	)	 
	Richard
    Barlow	)	 

	 	Signature
	 	 
	in the presence of:	Mandy Smith
	 	Name of witness
	 	 
	 	 
	 	Signature of witness

 

	Date:	30th July 2021	 

 

    18

     

    

 

Schedule A – Incentive Opportunities

 

	1	Discretionary Bonuses

 

	1.1.	Upon closing, you are eligible to receive an annual bonus (the “Discretionary
Annual Bonus”), at the Board’s absolute discretion, the details of which will be provided to you separately, provided
however that such bonus shall, be equal to 100% of your Basic Salary assuming agreed targets, assessed by the Board, are achieved.

 

	1.2.	Upon closing, you will also be eligible to be considered for an additional annual bonus (the “Discretionary
Enhanced Bonus”), at the Board’s absolute discretion, of up to a further 100% of your Basic Salary, on a linear / proportionate
basis, relating to additional agreed targets.

 

	1.3.	Any bonus payment will not form part of your contractual remuneration under this agreement. If we make
a bonus payment to you in respect of a particular financial year of the Company, it does not automatically mean a bonus will be paid in
subsequent financial years of the Company.

 

	1.4.	We may alter the terms of any bonus targets or metrics or withdraw them altogether
at any time without prior notice.

 

	1.5.	Notwithstanding clause 1.1 of this Schedule A, you shall have no right to a bonus if:

 

		1.5.1.	the Employment terminates for any reason under clause 20.1.1 ; or

 

		1.5.2.	your personal performance or conduct is deemed by the Company to be below expectation.

 

	1.6.	Bonus payments shall not be classed as pensionable earnings.

 

	2.	Restricted Stock Units

 

	2.1.	Prior to or on the closing date of the Business Combination, you will be granted:

 

		2.1.1.	a number of restricted stock units over common shares of the Parent equal to 2% of
the fully diluted share capital as of the closing of the Business Combination; and

 

		2.1.2.	a further number of restricted stock units over common shares of the Parent equal
to 5% of the fully diluted share capital as of the closing of the Business Combination, that will vest only upon the Parent’s share
price trading above US$50.00 per share for any 20 trading days within any 30-day period.

 

	3.	Equity Incentive Awards

 

	3.1.	In 2022, and in addition to the Restricted Stock Units described in clause 2 of this
Schedule A, you will receive an (Equity) Long Term Incentive Award to the value of $2,500,000. The structure of the award is intended
to be a mix of options and RSU’s, to be approved by the Compensation Committee. You may also be eligible to participate in any such
annual incentive plans as the Parent may adopt or operate from time to time, including
but not limited to any Wejo Group Limited Employee Incentive Plan (“EIP”) and any Wejo Group Limited Employee Stock
Purchase Plan in each case from 2023 onwards.

 

	3.2.	Subject to the approval of the Compensation Committee, on termination and notwithstanding the terms of
the EIP or such other equity incentive plans as the Parent may adopt or operate from time to time, (A) all outstanding unvested share
options granted to the Executive during the term of the Employment shall vest in full on the date of Termination and be exercisable from
the date of Termination until the earlier of (i) the second anniversary of the date of Termination, (ii) the expiration of the applicable
option, and (iii) the tenth anniversary of the grant date of the application option, and (B) all other outstanding equity-based compensation
awards shall vest in full on the date of Termination.

 

    19

     

    

 

Schedule B – Definitions

 

	“Board”	the
    board of directors of the Parent (including any committee of the board duly appointed by it).
	 	 
	“Capacity”	as agent,
    consultant, director, employee, owner, partner, shareholder or in any other capacity.
	 	 
	“Confidential
    Information”	shall
    include all and any trade secrets or other technical or commercially sensitive information of the Company or any Group Company (whether
    or not recorded in documentary form, or stored on any magnetic or optical disk or memory), including, without limitation, technical
    data and know-how relating to the business of any Group Company or any of their business contacts, including in particular (by way
    of illustration only and without limitation) software source code, unpublished patent applications and inventions (whether or not
    the subject of a patent application and proprietary algorithms).
	 	 
	“Copies”	copies
    or records of any Confidential Information in whatever form (including, without limitation, in written, oral, visual or electronic
    form or on any magnetic or optical disk or memory and wherever located)  including, without limitation, extracts, analysis, studies, plans, compilations or any other way of representing
    or recording and recalling information which contains, reflects or is derived or generated from Confidential Information.
	 	 
	“Discretionary
    Annual Bonus”	has
    the meaning given to it in clause 1.1 of Schedule A.
	 	 
	“Discretionary
     Enhanced Bonus”	has
    the meaning given to it in clause 1.2 of Schedule A.
	 	 
	“Employment
    Inventions”	shall
    include all and any Invention made by you wholly or partially at any time during the Employment (whether or not during your normal
    hours of work and/or using Company premises or resources).
	 	 
	“Employment
    IPRs”	shall
    include all and any intellectual property rights created by you during the course of the Employment.
	 	 
	“Garden
    Leave”	any
    period during which the Company has exercised its rights under clause 22.
	 	 
	“Group
    Company”	the
    Company, its Subsidiaries and/or Holding Companies (including the Parent) from time to time and any Subsidiary of any Holding Company
    from time to time, and “Group” shall be construed accordingly.

 

    20

     

    

 

	“Incapacity”	any
    sickness, injury or other medical disorder or condition which prevents you from carrying out your duties.
	 	 
	“Intellectual
    Property Rights”	patents,
    rights to Inventions, copyright and related rights, trademarks, trade names and domain names, rights in get-up, goodwill and the
    right to sue for passing off, unfair competition rights, rights in designs, rights in computer software, database rights, topography
    rights, rights to use and preserve the confidentiality of information (including know-how and trade secrets) and any other intellectual
    property rights, in each case whether registered or unregistered and including all applications (or rights to apply) for and be granted,
    renewals or extensions of, and rights to claim priority from, such rights and all similar or equivalent rights or forms of protection
    which subsist or will subsist now or in the future in any part of the world.
	 	 
	“Inventions”	any
    invention, idea, discovery, development, improvement or innovation, whether or not patentable or capable of registration, and whether
    or not recorded in any medium.
	 	 
	“Pre-Contractual
    Statement”	any
    undertaking, promise, assurance, statement, representation, warranty or understanding (whether in writing or not) of any person (whether
    party to this agreement or not) relating to the Employment which is not expressly set out in this agreement or any documents referred
    to in it.
	 	 
	“Remuneration
    Committee”	the
    remuneration committee of the Board.
	 	 
	“Restricted
    Business”	any
    business which supplies (or intends to supply) products or services in competition with any business of the Company or any Group
    Company in respect of which you were concerned or responsible for or held Confidential Information about, to any material extent,
    at any time in the 12 months prior to Termination.
	 	 
	“Restricted
    Customer”	any
    person, firm or company who or which at any time in the 12 months prior to Termination was a client or customer of the Company or
    any Group Company for the sale of products or services and with whom you had any personal contact, were responsible for or held Confidential
    Information about, to any material extent, at any time during the 12 months prior to Termination.
	 	 
	“Restricted
     Prospective Customer”	any
    person, firm or company who or which at any time in the 12 months prior to Termination had discussions with the Company or any Group
    Company regarding the possible distribution, sale or supply of products or services by the Company or any Group Company to such person,
    firm or company and with whom you had any personal contact, were responsible for or held Confidential Information about, to any material
    extent, at any time during the 12 months prior to Termination.

 

    21

     

    

 

	“Restricted
    Supplier”	any
    person, firm or company who or which at any time in the 12 months prior to Termination was a supplier of any goods or services (other
    than utilities and goods or services supplied for administrative purposes) to any Group Company and with whom or which you had any
    personal contact, were responsible for or held Confidential Information about, to any material extent, at any time during the 12
    months prior to Termination.
	 	 
	“Restricted
    Person”	any
    director, senior manager, or other employee in a sales, research, technical or management role employed or engaged by the Company
    or any Group Company at any time in the 12 months prior to Termination and with whom you had personal contact with or were responsible
    for, to any material extent, during the 12 months prior to Termination.
	 	 
	“Subsidiary”
    and “Holding Company”	in relation
    to a company mean “subsidiary” and “holding company” as defined in section 1159 of the Companies Act 2006
    and a company shall be treated, for the purposes only of the membership requirement contained in subsections 1159(1)(b) and (c),
    as a member of another company even if its shares in that other company are registered in the name of (a) another person (or its
    nominee), whether by way of security or in connection with the taking of security, or (b) a nominee.
	 	 
	“Termination”	the
    termination of the Employment howsoever caused.

 

    22Exhibit 10.10

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT
(this “Agreement”) is entered into as of July 30, 2021 among John Maxwell (“Executive”), and wejo,
Inc. (the “Company”).

 

WHEREAS,
Wejo California Corp. previously entered into an offer letter with Executive dated as of March 12, 2021, as amended (the “Offer
Letter”);

 

WHEREAS,
Wejo Group Limited (the “Parent”), Wejo, Ltd. and Virtuoso Acquisition Corporation, among others, have entered
into an agreement and plan of merger (the “Merger Agreement”) pursuant to which the business combination (as defined
in the Merger Agreement, the “Business Combination”) will occur;

 

WHEREAS,
following the closing of the Business Combination, the Company and Wejo California Corp. are wholly owned subsidiaries of Parent;

 

WHEREAS,
following the closing of the Business Combination, the Company desires to employ Executive and Executive desires to be employed by the
Company on the terms set forth in this Agreement.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

 

1.                  Employment Term. The Company hereby agrees to employ Executive, and Executive hereby agrees to be employed with the Company,
upon the terms and conditions in this Agreement. Executive’s employment with the Company pursuant to this Agreement shall commence
on the Closing Date (as defined in the Merger Agreement, the “Effective Date”) and shall continue until terminated
by either party in accordance with Section 8. The period during which Executive is employed by the Company pursuant to this Agreement
is hereinafter referred to as the "Term." Notwithstanding anything herein to the contrary, in the event that the Merger
Agreement terminates prior to the closing of the Business Combination, this Agreement shall be void ab initio.

 

2.                  Location.
Executive’s principal place of employment with the Company shall be in New Jersey, subject to required travel on Company business.
Executive’s position will require travel, including to the United Kingdom, on a schedule set from time to time by the Chief Executive
Officer of [Parent/Wejo Limited] (“CEO”), in his sole discretion. The Company currently anticipates that Executive
will work approximately 50% of his time in the United Kingdom during the first six months of employment, travel restrictions permitting.
This approximation is subject to change but in no event shall travel of more than 50% of Executive’s time be required.

 

     

     

    

 

3.                  Employment
Duties. Executive shall have the title of Chief Financial Officer of the Company and shall have such duties, authorities and responsibilities
as are consistent with such position and as the Board of Directors of [Parent] (the “Board”) or the CEO may designate
from time to time. Executive shall report to the CEO. Executive shall devote substantially all of Executive’s business time and
attention to Executive’s employment and service with the Company and shall perform Executive’s services in a capacity and
in a manner consistent with Executive’s position for the Company; provided, that this Section 3 shall not be interpreted
as prohibiting Executive from (i) managing Executive’s personal investments (so long as such investment activities are of a passive
nature, (ii) engaging in charitable or civic activities, (iii) participating on boards of directors or similar bodies of non-profit organizations,
or (iv) participating on board of directors or similar bodies of for-profit organizations; provided, that (A) in each case of (i) –
(iv), such activities do not, individually or in the aggregate, (a) materially interfere with the performance of Executive’s duties
and responsibilities hereunder, (b) create a fiduciary conflict, or (c) result in a violation of the Restrictive Covenant Agreement (as
hereinafter defined), and (B) in case of (iv), Executive discusses with and obtains approval for such participation from the Company’s
CEO and board of directors in advance. If requested, Executive shall also serve as an executive officer and/or board member of the board
of directors (or similar governing body) of any entity that directly, or indirectly through one or more intermediaries, controls, is
controlled by, or is under common control with, Parent without any additional compensation.

 

4.                  Base
Salary.

 

(a)               During
the Term, the Company shall pay Executive a base salary at an annual rate of $420,000, payable in accordance with the Company’s
normal payroll practices for employees as in effect from time to time. Executive’s annual base salary, as in effect from time to
time, is hereinafter referred to as the “Base Salary.”

 

(b)              During
the Term, Executive may incur taxes payable in the United Kingdom as a result of his travel and work in the United Kingdom under Section
2 (the “UK Tax”). In addition to, and not part of, the Base Salary, the Company shall make a payment equivalent equal
to the sum of the UK Tax payable by Executive, plus the amount necessary to put Executive in the same after-tax position (taking into
account any and all applicable federal, state, local and foreign income, employment and excise taxes (including the UK Tax and any income
and employment taxes imposed on the Gross-up Payment)) that he would have been in if Executive had not incurred any tax liability in
the United Kingdom; provided, that such payment shall not be required to the extent that Executive is permitted to claim a credit for
the UK Tax to reduce his tax liability in the United States. Payments under this Section 4(b) will be subject to validation by the Company
and Board approval.

 

5.                  Incentive
Opportunities. Executive shall be entitled to the incentive awards defined in Schedule A attached hereto.

 

6.                  Benefits.

 

(a)               Executive
shall be entitled to participate in any benefit plans, including medical, disability and life insurance (but excluding any severance
or bonus plans unless specifically referenced in this Agreement) offered by the Company as in effect from time to time (collectively,
 “Benefit Plans”), on the same basis as those generally made available to other senior executives of the Company, to
the extent consistent with applicable law and the terms of the applicable Benefit Plan.

 

     

     

    

 

(b)              The
Company shall pay 100% of the premiums for Executive’s participation in any Benefit Plans that are group welfare plans. Without
limiting the foregoing, during the Term, the Company shall at its own expense procure and keep in effect term life insurance on the life
of Executive, payable to such beneficiaries as Executive may from time to time designate, in an aggregate amount equal to two times Executive’s
Base Salary. The Company does not promise the adoption or continuance of any particular Benefit Plan and reserves the right to amend
or cancel any Benefit Plan at any time in its sole discretion (subject to the terms of such Benefit Plan and applicable law).

 

(c)               Executive
shall be entitled to six weeks of annual paid vacation and up to four weeks of paid time off for sickness and family leave (in each case,
pro-rated for partial years), in addition to any standard public holidays that apply in the State of New Jersey.

 

7.                  Expense
Reimbursement. Executive shall be entitled to reimbursement for all reasonable and necessary out-of-pocket business, entertainment
and travel expenses incurred by Executive in connection with the performance of Executive's duties hereunder in accordance with the Company’s
expense reimbursement policies and procedures, as in effect from time to time.

 

8.                  Termination
of Employment. Executive’s employment hereunder may be terminated as follows:

 

(a)               Automatically
in the event of the death of Executive;

 

(b)              At
the option of the Company, by written notice to Executive or Executive’s personal representative in the event of the Disability
of Executive. As used herein, the term “Disability” shall mean Executive’s inability, to substantially perform
his duties under this Agreement for not less than 120 business days within a 12 consecutive month period as a result of his incapacity
due to a physical or mental condition and after any reasonable accommodation required by law. Any question as to the existence
of Executive's Disability as to which Executive and the Company cannot agree shall be determined in writing by a qualified independent
physician mutually acceptable to Executive and the Company. A reassignment, reduction or elimination of the duties defined in Section
3 because of Executive’s inability to perform such duties during any period of a Disability, shall not constitute Good Reason
under Section 9(a) below.

 

(c)               At
the option of the Company for Cause, by delivering written notice to Executive;

 

(d)               At
the option of the Company at any time without Cause, upon 30 days prior written notice to Executive (provided that, the Company shall
have the option to provide Executive with a lump sum payment equal to 30 days' Base Salary in lieu of such notice, which shall be paid
in a lump sum on the Executive's termination date);

 

(e)               At
the option of Executive for Good Reason; or

 

(f)               At
the option of Executive without Good Reason, upon 60 days prior written notice to the Company (which the Company may, in its sole discretion,
make effective earlier than the termination date provided in such notice).

 

     

     

    

 

9.                  Payments
by Virtue of Termination of Employment.

 

(a)               Termination
by the Company Without Cause or by Executive For Good Reason. If Executive’s employment is terminated at any time by the Company
without Cause (excluding by reason of death or Disability) or by Executive for Good Reason, Executive shall be entitled to:

 

(i)              (A) (i) within 30 days following such termination, payment of Executive’s accrued and unpaid Base Salary and accrued but
unused vacation and (ii) reimbursement of expenses under Section 7 of this Agreement, in each case of (i) and (ii), accrued through
the date of termination and (B) all other accrued amounts or accrued benefits due to Executive in accordance with the Benefit Plans (other
than severance) as required by law; and

 

(ii)             subject
to Section 9(c) of this Agreement

 

(A) continuation of
Base Salary as in effect immediately prior to Executive’s date of termination for 12 months following the date of termination (the
 “Severance Period”), payable in equal installments in accordance with the Company’s regular payroll practices
as in effect from time to time, and

 

(B) if Executive timely
elects coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) and to the extent permitted by applicable
law and provided the Company is able to provide such benefits without the imposition on the Company of any tax or penalty, a cash payment
equal to the difference between the COBRA premium and the premium paid by Executive for such benefits immediately prior to the date of
termination, payable monthly in accordance with the Company’s regular payroll practices for 12 months or until such earlier termination
of COBRA coverage; provided, that the first payment pursuant to Section 9(a)(ii)(A) and this Section 9(a)(ii)(B)
shall be made on the next regularly scheduled payroll date following the 60th day after Executive’s termination and shall include
payment of any amounts that would otherwise be due prior thereto. In the event of Executive’s death during the Severance Period,
any payments to be made pursuant to Section 9(a)(ii)(A) and this Section 9(a)(ii)(B) shall be paid to Executive’s
legal representative or estate.

 

(iii)            Notwithstanding
the terms of the Plan or any applicable award agreements, (A) all outstanding unvested stock options granted to Executive during the
Term shall fully vest as of the termination date and be exercisable until the earlier of (I) the second anniversary of the termination
date, (II) the expiration date of the applicable option, and (III) the tenth anniversary of the grant date of the applicable option,
and (B) all other outstanding equity-based compensation awards shall fully vest as of the termination date.

 

(b)              Termination
other than by the Company Without Cause or by Executive For Good Reason. If Executive’s employment terminates for any reason
other than by the Company without Cause or by Executive for Good Reason (i.e., by reason of Executive’s death or Disability, by
the Company for Cause or by Executive without Good Reason), Executive or Executive’s legal representatives, as applicable, shall
be entitled to receive the payments and benefits described under Section 9(a)(i) of this Agreement.

 

     

     

    

 

(c)               Conditions
to Payment. All payments and benefits due to Executive under Section 9(a)(ii)-(iii) shall be payable only if Executive executes
and delivers to the Company a general release of claims in a form provided by the Company, and such release is no longer subject to revocation
(to the extent applicable), in each case, within 60 days following termination of employment. Failure to timely execute and return such
release or the revocation of such release during the revocation period shall be a waiver by Executive of Executive’s right to such
payments and benefits. In addition, payments and benefits under Section 9(a)(ii)-(iii) shall be conditioned on Executive’s
compliance with Executive’s obligations under the Restrictive Covenant Agreement.

 

(d)               No
Other Severance. Executive hereby acknowledges and agrees that, other than the payments and benefits described in this Section
9 and Section 12 (with respect to 280G, if applicable), upon the effective date of the termination of Executive’s employment,
Executive shall not be entitled to any other severance or termination payments or benefits of any kind under any the Company benefit
plan, severance policy generally available to the Company’s employees or otherwise and all other rights of Executive to compensation
shall end as of such date.

 

10.                Definitions. For purposes of this Agreement,

 

(a)               “Cause” shall mean, (i) an act of dishonesty made by Executive in connection with his responsibilities as an
employee; (ii) Executive’s indictment for, conviction of, or plea of nolo contendere to, a felony or any crime involving
fraud, embezzlement, or any other act of moral turpitude; (iii) Executive’s violation of a federal or state law or regulation applicable
to the Company’s or its affiliate’s business, or which is reasonably likely to be injurious to the Company or its affiliate;
(iv) Executive’s material failure or refusal to comply with written policies, standards, and regulations established by the Company
or its parent company from time to time; (v) Executive’s gross misconduct; (vi) Executive’s unauthorized use or disclosure
of any confidential or proprietary information or trade secrets of the Company or its affiliate or any other party to whom Executive owes
an obligation of nondisclosure as a result of his relationship with the Company; (vii) Executive’s material breach of any obligations
under any written agreement or covenant with the Company or its affiliate, including any breach of the Restrictive Covenant Agreement;
or (viii) Executive’s continued failure to perform his material employment duties, as required by the Company. Termination of Executive's
employment shall not be deemed to be for Cause unless and until the Company delivers to Executive written notice detailing the conduct
giving rise to the Cause. Except for a failure, breach, or refusal which, by its nature, cannot reasonably be expected to be cured, Executive
shall have ten (10) business days from the delivery of written notice by the Company within which to cure any acts constituting Cause;
provided however, that, if the Company reasonably expects irreparable injury from a delay of ten (10) business days, the Company may give
Executive notice of such shorter period within which to cure as is reasonable under the circumstances, which may include the termination
of Executive's employment without notice and with immediate effect.

 

     

     

    

 

(b)              “Good Reason” shall mean, without Executive’s written consent: (i) a material reduction of the level of
Executive’s base salary (except where there is a general reduction applicable to the management team generally), (ii) a change in
the geographic location at which Executive must perform his services to a facility or a location of 50 miles or more from the current
office location, (iii) on or following a Change of Control, there is a material reduction in Executive’s overall responsibilities
or authority, or scope of duties, or (iv) a demotion or diminished reporting relationship; provided, that no event described in
clause (i), (ii), (iii) or (iv) shall constitute Good Reason unless (A) Executive has given the Company written notice of the termination,
setting forth the conduct of the Company that is alleged to constitute Good Reason, within 60 days following the occurrence of such event,
and (B) Executive has provided the Company at least 60 days following the date on which such notice is provided to cure such conduct and
the Company has failed to do so. Failing such cure, a termination of employment by Executive for Good Reason shall be effective on the
day following the expiration of such cure period. For purposes of this definition, “Change in Control” shall mean (i)
a sale or exclusive license of all or substantially all of Parent's assets, (ii) a merger, consolidation or other capital reorganization
or business combination transaction of Parent with or into another corporation, limited liability company or other entity, or (iii) the
consummation of a transaction, or series of related transactions, in which any “person” (as such term is used in Sections
13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) becomes the “beneficial owner” (as defined in Rule 13d-3
of the Securities Exchange Act of 1934, as amended), directly or indirectly, of more than 50% of Parent's then outstanding voting securities.

 

11.                Resignation
as Officer or Director. Upon the effective date of any termination of Executive’s employment, Executive shall resign or be
deemed to have resigned from Executive’s position(s) and, to the extent applicable, as an officer of the Company and any of its
affiliates, as a member of the board of directors or similar governing body of the Company and any of its affiliates, and as a fiduciary
of any benefit plan of the Company and any of its affiliates. On or immediately following the effective date of any such termination
of Executive’s employment, Executive shall confirm the foregoing by submitting to the Company in writing a confirmation of Executive’s
resignation(s).

 

12.                Section 280G.

 

(a)               Notwithstanding
any other provision of this Agreement or any other plan, arrangement or agreement to the contrary, if any of the payments or benefits
provided or to be provided to Executive or for Executive’s benefit pursuant to the terms of this Agreement or otherwise, including,
without limitation, payments in connection with a Change in Control or the vesting or settlement of equity awards or other non-cash benefits
or property, whether pursuant to the terms of this Agreement or any other plan, arrangement, or agreement with the Company or otherwise
(“Covered Payments”) constitute parachute payments (“Parachute Payments”) within the meaning of
Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), and would, but for this Section 12, be
subject to the excise tax imposed under Section 4999 of the Code (or any successor provision thereto) or any similar tax imposed by state
or local law or any interest or penalties with respect to such taxes (collectively, the “Excise Tax”), then the Company
shall pay to Executive, no later than the time the Excise Tax is required to be paid by Executive or withheld by the Company, an additional
amount (the “Gross-up Payment”) equal to the sum of the Excise Tax payable by Executive, plus the amount necessary
to put Executive in the same after-tax position (taking into account any and all applicable federal, state, local and foreign income,
employment and excise taxes (including the Excise Tax and any income and employment taxes imposed on the Gross-up Payment)) that he would
have been in if Executive had not incurred any tax liability under Section 4999 of the Code.

 

     

     

    

 

(b)              Any
determination required under this Section 12 shall be made in writing in good faith by an independent accounting firm selected by the
Company (the “Accountants”). The Company and Executive shall provide the Accountants with such information and documents
as the Accountants may reasonably request in order to make a determination under this Section 12. For purposes of making the calculations
and determinations required by this Section 12, the Accountants may rely on reasonable, good faith assumptions and approximations concerning
the application of Section 280G and Section 4999 of the Code. The Accountants’ determinations shall be final and binding on the
Company and Executive. The Company shall be responsible for all fees and expenses incurred by the Accountants in connection with the calculations
required by this Section 12.

 

13.                Restrictive
Covenants. Executive and the Company previously entered into that certain WEJO California Corp. At-Will Employment, Confidential
Information, Invention Assignment, and Arbitration Agreement, dated as of March 16, 2021, and attached hereto as Exhibit A (the “Restrictive
Covenant Agreement”). The parties agree that all terms set forth under the Restrictive Covenant Agreement, other than Section
1, shall be incorporated herein by reference; provided, that the defined term “Parent” shall be deemed to refer to Parent
under this Agreement upon the Effective Date.

 

14.                Indemnification. Subject to the Company’s by-laws, to the fullest extent allowed or permitted under any provision
of applicable law, the Company shall indemnify Executive against any losses, claims, damages or liabilities, or expenses (including reasonable
attorneys’ fees) incurred by Executive arising out of any claim based upon acts performed or omitted to be performed by Executive
in connection with Executive’s employment with the Company.

 

15.                Cooperation.
From and after Executive’s termination of employment, Executive shall provide Executive’s reasonable cooperation in connection
with any action or proceeding (or any appeal from any action or proceeding) which relates to events occurring during Executive’s
employment with the Company or its affiliates, and assist and advise the Company in any investigation which may be performed by the Company,
provided, that the Company shall reimburse Executive for Executive’s reasonable costs and expenses and, to the extent that
Executive is required to spend substantial time on such matters, the Company shall reasonably compensate Executive ; provided, further,
that such cooperation shall not unreasonably burden Executive or unreasonably interfere with any subsequent employment that Executive
may undertake. In the event Executive is subpoenaed by any person or entity (including, but not limited to, any government entity) to
give testimony or provide documents (in a deposition, court proceeding, or otherwise), that in any way relates to Executive’s employment
by the Company, Executive will give prompt notice of such subpoena to the Company and will make no disclosure until the Company has had
a reasonable opportunity to contest the right of the requesting person or entity to such disclosure. Nothing in this Section 15 shall
limit Executive’s right to engage in Protected Activity as defined in Section 14 of the Restrictive Covenant Agreement.

 

16.                Company
Policies. As an employee of the Company, Executive will be expected to abide by the Company’s and Parent’s rules and
standards in connection with Executive’s employment, including abiding by any applicable handbooks, codes of conduct, clawback
policies, stock ownership policies, procedures, and other rules and standards, as may be in effect from time to time.

 

     

     

    

 

17.                Miscellaneous.

 

(a)               All
notices hereunder, to be effective, shall be in writing and shall be deemed effective when delivered by hand or mailed by (i) certified
mail, postage and fees prepaid, or (ii) nationally recognized overnight express mail service, as follows:

 

If to the Company:

 

the Company

Attention:

Ms. Den Power

Chief People Officer

Wejo, Ltd.

21-23 Quay Street

Manchester UK M3 4AE

With a copy to which shall not constitute notice to:

 

Weil, Gotshal &
Manges LLP

767 Fifth Avenue

New York, New York 10153

Attention: Jackie Cohen

Fax:    (212) 310-8891

E-mail:     jackie.cohen@weil.com

 

If to Executive:

 

At Executive’s home
address as then shown in the Company’s personnel records,

 

or to such other address as either party may have
furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt.

 

(b)              This
Agreement is personal to Executive and shall not be assigned by Executive. Any purported assignment by Executive shall be null and void
from the initial date of the purported assignment. The Company may assign this Agreement to any successor or assign (whether direct or
indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company or to
an affiliate, and Executive hereby explicitly consents to such assignment. This Agreement shall inure to the benefit of the Company and
its successors and assigns.

 

     

     

    

 

(c)               This
Agreement with the Restrictive Covenant Agreement (to the extent provided in Section 13 of this Agreement) contains the entire
agreement between the parties with respect to the subject matter hereof supersedes all other agreements, term sheets, offer letters,
and drafts thereof, oral or written, between the parties hereto with respect to the subject matter hereof, including the Offer Letter.
No promises, statements, understandings, representations or warranties of any kind, whether oral or in writing, express or implied, have
been made to Executive by any person or entity to induce Executive to enter into this Agreement other than the express terms set forth
herein, and Executive is not relying upon any promises, statements, understandings, representations, or warranties other than those expressly
set forth in this Agreement.

 

(d)               No
change or modification of this Agreement shall be valid unless the same shall be in writing and signed by all of the parties hereto.
No waiver of any provisions of this Agreement shall be valid unless in writing and signed by the party charged with waiver. No waiver
of any of the provisions of this Agreement shall be deemed, or shall constitute, a waiver of any other provision, whether or not similar,
nor shall any waiver constitute a continuing waiver, unless so provided in the waiver.

 

(e)               If
any provisions of this Agreement (or portions thereof) shall, for any reason, be held invalid or unenforceable, such provisions (or portions
thereof) shall be ineffective only to the extent of such invalidity or unenforceability, and the remaining provisions of this Agreement
(or portions thereof) shall nevertheless be valid, enforceable and of full force and effect. If any court of competent jurisdiction finds
that any restriction contained in this Agreement is invalid or unenforceable, then the parties hereto agree that such invalid or unenforceable
restriction shall be deemed modified so that it shall be valid and enforceable to the greatest extent permissible under law, and if such
restriction cannot be modified so as to make it enforceable or valid, such finding shall not affect the enforceability or validity of
any of the other restrictions contained herein.

 

(f)                This
Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and shall
become effective when counterparts have been signed by each party and delivered to the other party. In the event that any signature is
delivered by facsimile transmission or by an e-mail which contains a portable document format (.pdf) file of an executed signature page,
such signature page shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed)
with the same force and effect as if such signature page were an original thereof.

 

(g)               The
section or paragraph headings or titles herein are for convenience of reference only and shall not be deemed a part of this Agreement.
The parties have jointly participated in the drafting of this Agreement, and the rule of construction that a contract shall be construed
against the drafter shall not be applied. The terms “including,” “includes,” “include”
and words of like import shall be construed broadly as if followed by the words “without limitation.” The terms “herein,”
 “hereunder,” “hereof” and words of like import refer to this entire Agreement instead of just the
provision in which they are found.

 

(h)               Notwithstanding
anything to the contrary in this Agreement:

 

(i)              The
parties agree that this Agreement shall be interpreted to comply with or be exempt from Section 409A, and all provisions of this Agreement
shall be construed in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A. In no event whatsoever
will the Company, any of its affiliates, or any of their respective directors, officers, agents, attorneys, employees, executives, shareholders,
investors, members, managers, trustees, fiduciaries, representatives, principals, accountants, insurers, successors or assigns be liable
for any additional tax, interest or penalties that may be imposed on Executive under Section 409A or any damages for failing to comply
with Section 409A.

 

     

     

    

 

(ii)             A
termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment
of any amounts or benefits considered “nonqualified deferred compensation” under Section 409A upon or following a termination
of employment unless such termination is also a “separation from service” within the meaning of Section 409A, and for purposes
of any such provision of this Agreement, references to a “resignation,” “termination,” “terminate,”
 “termination of employment” or like terms shall mean separation from service. If any payment, compensation or other benefit
provided to Executive in connection with the termination of Executive’s employment is determined, in whole or in part, to constitute
 “nonqualified deferred compensation” within the meaning of Section 409A and Executive is a specified employee as defined
in Section 409A(2)(B)(i) of the Code, no part of such payments shall be paid before the day that is six months plus one day after the
date of termination or, if earlier, ten business days following Executive’s death (the “New Payment Date”).
The aggregate of any payments that otherwise would have been paid to Executive during the period between the date of termination and
the New Payment Date shall be paid to Executive in a lump sum on such New Payment Date. Thereafter, any payments that remain outstanding
as of the day immediately following the New Payment Date shall be paid without delay over the time period originally scheduled, in accordance
with the terms of this Agreement.

 

(iii)            All
reimbursements for costs and expenses under this Agreement shall be paid in no event later than the end of the calendar year following
the calendar year in which Executive incurs such expense. With regard to any provision herein that provides for reimbursement of costs
and expenses or in-kind benefits, except as permitted by Section 409A, (i) the right to reimbursement or in-kind benefits shall not be
subject to liquidation or exchange for another benefit, and (ii) the amount of expenses eligible for reimbursements or in-kind, benefits
provided during any taxable year shall not affect the expenses eligible for reimbursement or in-kind benefits to be provided in any other
taxable year.

 

(iv)            If under this Agreement, an amount is paid in two or more installments, for purposes of Section 409A, each installment shall be
treated as a separate payment. Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g.,
 “payment shall be made within 30 days following the date of termination”), the actual date of payment within the specified
period shall be within the sole discretion of the Company.

 

(i)                This Agreement will be governed by and construed in accordance with the laws of the State of New Jersey, without giving effect
to any choice of law or conflict of law provision or rule. AS A SPECIFICALLY BARGAINED INDUCEMENT FOR EACH OF THE PARTIES TO ENTER INTO
THIS AGREEMENT (EACH PARTY HAVING HAD OPPORTUNITY TO CONSULT COUNSEL), EACH PARTY EXPRESSLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY PROCEEDING
RELATING TO OR ARISING IN ANY WAY FROM THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED IN THIS AGREEMENT.

 

     

     

    

 

(j)                Executive
hereby represents and warrants to the Company that (i) Executive has disclosed to the Company any and all agreements relating to his
prior employment that may affect his eligibility to be employed by the Company or that may limit the manner in which Executive is employed,
(ii) the execution, delivery and performance of this Agreement by Executive do not and shall not conflict with, breach, violate or cause
a default under any contract, agreement, instrument, order, judgment or decree to which Executive is a party or by which he is bound,
(iii) Executive has not and will not bring any third-party confidential information to the Company, including that of his former employer,
and Executive will not in any way utilize any such information in performing his duties for the Company, (iv) Executive is not a party
to or bound by any employment agreement, noncompete agreement or confidentiality agreement with any other person or entity and (v) upon
the execution and delivery of this Agreement by the Company, this Agreement shall be the valid and binding obligation of Executive on
and after the Effective Date, enforceable in accordance with its terms. Executive hereby acknowledges and represents that he has had
the opportunity to consult with independent legal counsel or other advisors of Executive’s choice and has done so regarding Executive’s
rights and obligations under this Agreement, that he is entering into this Agreement knowingly, voluntarily, and of his own free will,
that he is relying on his own judgment in doing so, and that he fully understands the terms and conditions contained herein.

 

(k)               The
Company shall have the right to withhold from any amount payable hereunder any Federal, state and local taxes in order for the Company
to satisfy any withholding tax obligation it may have under any applicable law or regulation.

 

(l)                The covenants and obligations of the Company under Sections 9, 12, 14, 15, and 17 hereof, and the covenants and obligations
of Executive under Sections 9, 11, 12, 13, 15, 16, and 17 hereof, shall continue and survive termination of Executive’s employment
or any termination of this Agreement.

 

[signature page follows]

 

     

     

    

 

IN WITNESS WHEREOF, the parties
have executed this Agreement as of the date first above written.

 

	 	wejo,
    Inc.
	 	 
	 	 
	 	By:	/s/ Richard Barlow
	 	 	By:	Richard Barlow
	 	 	Title:	President, Treasurer and Secretary
	 	 
	 	 
	 	EXECUTIVE
	 	 
	 	 /s/ John Maxwell
	 	Name: John Maxwell

 

     

     

    

 

Schedule A

 

Incentive Opportunities

 

		a.	Annual Incentive Awards. With respect to each calendar year during the Term, Executive shall
be eligible to earn a discretionary annual cash award (the “Annual Incentive Award)”), with a target Annual award of
50% of Base Salary (“Target Award”) and a maximum of 100% of Base Salary, which shall be earned, if at all, upon the
achievement of performance metrics established by the CEO and the Board. The terms and conditions of the Annual Award, and whether the
award is earned will be determined by the Board in its sole discretion. The Annual Incentive Award , if any, for each calendar year during
the Term shall be paid to Executive in the calendar year immediately following the year to which it relates, following the date the Board
or a committee of the Board approves the year-end audited financial statements of Wejo Group Limited for the applicable fiscal year (but
in no event will any such payment be made later than the last day of the first quarter of the following calendar year), subject to Executive’s
continued employment on the day such Annual Award is paid.

 

		b.	Transaction
                                            Bonus. As provided under the Offer Letter, Executive will be eligible to receive
                                            a one-time bonus payment of $150,000 (the “SPAC Bonus ”) upon the successful
                                            completion and fully securing and closing of the Business Combination to the satisfaction
                                            of the CEO and the Board, paid within 30 days of the closing and subject to Executive’s
                                            continued employment on the day such SPAC Bonus is paid.

 

		c.	Cash LTIP Opportunity. Executive will be eligible to earn a discretionary long-term cash
incentive award of $600,000 in respect of calendar years 2021 and 2022 (the “Cash LTIP Award”) based on achievement
of company and individual performance goals determined by the CEO and the Board. The Cash LTIP Award will be paid in two equal annual
installments of $300,000 during the calendar year immediately following the year to which it relates, no later than the last day of the
first quarter (i.e., no later than Q1 2022 and Q1 2023, respectively), subject to Executive’s continued employment on the date of
payment. Following 2022, the Company in its discretion may grant additional long-term-incentive cash awards to Executive that will be
earned based on company and individual performance metrics, and subject to terms and conditions, as determined by the CEO and the Board.
The Company may opt for the Executive or the Executive may request to receive the Cash LTIP Award in the form of stock compensation in
lieu of such cash payments, subject to the discretion of the Board of Directors of Parent or appropriate committee thereof.

 

		d.	Stock Compensation. Prior to or as soon as reasonably practicable following the closing
of the Business Combination and subject to the approval of the Board, it will be recommended that Executive be granted stock options and
restricted stock units, with the number of Company Common Shares underlying such awards equal to 1% of the fully diluted Company Common
Shares as of the closing of the Business Combination, subject to terms and conditions, including vesting provisions, as determined by
the Board. In addition, Executive shall be eligible for future equity compensation, regardless of the type of equity compensation as determined
by the Board.

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