Document:

Document

 Exhibit 10.6

BIGBEAR.AI HOLDINGS, INC. 
2021 LONG-TERM INCENTIVE PLAN
RESTRICTED STOCK UNIT GRANT NOTICE (NON-EMPLOYEE DIRECTOR)
Pursuant to the terms and conditions of the BigBear.ai Holdings, Inc. 2021 Long-Term Incentive Plan, as amended, restated or otherwise modified from time to time (the “Plan”), BigBear.ai Holdings, Inc., a Delaware corporation (the “Company”), hereby grants to the individual listed below (“Participant”) the number of restricted stock units (the “RSUs”) set forth below. This award of RSUs (this “Award”) is subject to the terms and conditions set forth herein and in the Restricted Stock Unit Agreement attached hereto as Exhibit A (the “Agreement”), which is incorporated herein by reference. Capitalized terms used but not defined herein shall have the meanings set forth in the Plan.
Participant:    _____________________________    
Grant Date:     _____________________________    
Number of RSUs:    ______________________________
Vesting Commencement Date:     _____________________________
						
	Vesting Schedule:	Subject to the Agreement, the Plan and other terms and conditions set forth herein, the RSUs will vest according to     the following schedule, so long as Participant has not incurred a Termination of Service prior to the applicable     vesting date:

						
	Vesting Date	Percentage of RSUs That Vest
		

By Participant’s signature below, Participant agrees to be bound by the terms of this Grant Notice, the Plan and the Agreement. Participant has reviewed the Plan, this Grant Notice and the Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of the Plan, this Grant Notice and the Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions arising under the Plan, this Grant Notice or the Agreement. This Grant Notice may be executed in one or more counterparts (including portable document format (.pdf) and facsimile counterparts), each of which shall be deemed to be an original, but all of which together shall constitute one and the same agreement.  
Notwithstanding any provision of this Grant Notice or the Agreement, if Participant has not executed this Grant Notice within 90 days following the Grant Date set forth above, Participant will be deemed to have accepted this Award, subject to all of the terms and conditions of this Grant Notice, the Agreement and the Plan.
[Signature Page Follows]

KE 83899926

BIGBEAR.AI HOLDINGS, INC.             PARTICIPANT

By:                                                    
Name:                        
Title:                         

Signature Page
to
Restricted Stock Unit Grant Notice

Exhibit A
RESTRICTED STOCK UNIT AGREEMENT
Capitalized terms not specifically defined in this Agreement have the meanings specified in the Grant Notice or, if not defined in the Grant Notice, in the Plan.
ARTICLE  I.
GENERAL
1.1Award of RSUs. The Company has granted the RSUs to Participant effective as of the grant date set forth in the Grant Notice (the “Grant Date”). Each RSU represents the right to receive one Share as set forth in this Agreement. Participant will have no right to the distribution of any Shares or payment of any cash until the time (if ever) the RSUs have vested.
1.2Incorporation of Terms of Plan. The RSUs are subject to the terms and conditions set forth in this Agreement and the Plan, which is incorporated herein by reference. In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan will control.
1.3Unsecured Promise. The RSUs will at all times prior to settlement represent an unsecured Company obligation payable only from the Company’s general assets.
ARTICLE II.
VESTING; FORFEITURE AND SETTLEMENT
2.1Vesting; Forfeiture. 
(a)The RSUs will vest according to the vesting schedule in the Grant Notice. In the event of Participant’s Termination of Service for Cause, all unvested RSUs will immediately and automatically be cancelled and forfeited, except as otherwise determined by the Committee or provided in a binding written agreement between Participant and the Company.
(b)In the event of Participant’s Termination of Service due to resignation or  Participant’s decision not to stand for reelection as a member of the Board (if applicable), , a number of RSUs equal to the Applicable Pro Rata Portion (as defined below) shall immediately vest as of the date of such Termination of Service. As used herein, “Applicable Pro Rata Portion” means (i) if, as of the date of the Participant’s Termination of Service, the Participant has served as a member of the Board for at least three years during any period after December 7, 2021, the total number of RSUs subject to this Award or (ii) in any other case, an amount equal to the total number of RSUs subject to this Award multiplied by a fraction (A) the numerator of which is the number of days from the Vesting Commencement Date through the date on which such Termination of Service occurs and (B) the denominator of which is 365.
(c)In the event of Participant’s Termination of Service for any reason other than as set forth in Section 2.1(a) or (b), any unvested RSUs will vest in their entirety as of the date of such Termination of Service.

 
(d)Notwithstanding anything in the Grant Notice, this Agreement or the Plan to the contrary, the RSUs will vest in their entirety upon the consummation of a Change in Control so long as Participant has not incurred a Termination of Service prior to the consummation of such Change in Control.
2.2Dividend Equivalents. In the event that the Company declares and pays a cash dividend in respect of its outstanding Shares and, on the record date for such dividend, Participant holds RSUs granted pursuant to this Agreement, the Company shall record the amount of such dividend in a bookkeeping account and pay to Participant an amount in cash equal to the cash dividends Participant would have received if Participant was the holder of record, as of such record date, of a number of Shares equal to the number of RSUs held by Participant that have not been settled as of such record date, such payment to be made on the Settlement Date (the “Dividend Equivalents”). For purposes of clarity, if the RSUs (or any portion thereof) are forfeited by Participant pursuant to the terms of this Agreement, then Participant shall also forfeit the Dividend Equivalents, if any, accrued with respect to such forfeited RSUs. No interest will accrue on the Dividend Equivalents between the declaration and payment of the applicable dividends and the settlement of the Dividend Equivalents.
2.3Settlement. As soon as administratively practicable following the vesting of RSUs pursuant to Section 2.1 but in no event later than 60 days following the earlier of (a) the vesting date set forth in the Grant Notice and (b) the date of Participant’s Termination of Service that qualifies as a “separation from service” within the meaning of Section 409A of the Code, the Company shall deliver to Participant a number of Shares equal to the number of RSUs subject to this Award, if any, that have become vested as of such date.  All Shares issued hereunder shall be delivered either by delivering one or more certificates for such shares to Participant or by entering such shares in book-entry form, as determined by the Committee in its sole discretion. The value of Shares shall not bear any interest owing to the passage of time.
ARTICLE III.
TAXATION AND TAX WITHHOLDING
3.1Representation. Participant represents to the Company that Participant has reviewed with Participant’s own tax advisors the tax consequences of this Award and the transactions contemplated by the Grant Notice and this Agreement. Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents.
3.2Tax Withholding. To the extent that the receipt, vesting or settlement of this Award results in compensation income or wages to Participant for federal, state, local and/or foreign tax purposes, Participant shall make arrangements satisfactory to the Company regarding the payment of, any income tax, social insurance contribution or other applicable taxes that are required to be withheld in respect of this Award, which arrangements include the delivery of cash or cash equivalents, Shares (including previously owned Shares (which is not subject to any pledge or other security interest), net settlement, a broker-assisted sale, or other cashless withholding or reduction of the amount of shares otherwise issuable or delivered pursuant to this Award), other property, or any other legal consideration the Committee deems appropriate. If such tax obligations are satisfied through net settlement or the surrender of previously owned Shares, the maximum number of Shares that may be so withheld (or surrendered) shall be the number of Shares that have 

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an aggregate Fair Market Value on the date of withholding or surrender equal to the aggregate amount of such tax liabilities determined based on the greatest withholding rates for federal, state, local and/or foreign tax purposes, including payroll taxes, that may be utilized without creating adverse accounting treatment for the Company with respect to this Award, as determined by the Committee. Any fraction of a Share required to satisfy such tax obligations shall be disregarded and the amount due shall be paid instead in cash to Participant. Participant acknowledges that there may be adverse tax consequences upon the receipt, vesting or settlement of this Award or disposition of the underlying shares and that Participant has been advised, and hereby is advised, to consult a tax advisor. Participant represents that Participant is in no manner relying on the Board, the Committee, the Company or an Affiliate or any of their respective managers, directors, officers, employees or authorized representatives (including attorneys, accountants, consultants, bankers, lenders, prospective lenders and financial representatives) for tax advice or an assessment of such tax consequences.

ARTICLE IV.
OTHER PROVISIONS
4.1Adjustments. Participant acknowledges that the RSUs and the Shares subject to the RSUs are subject to adjustment, modification and termination in certain events as provided in this Agreement and the Plan.
4.2Notices. All notices and other communications under this Agreement shall be in writing and shall be delivered to the parties at the following addresses (or at such other address for a party as shall be specified by like notice):
If to the Company, unless otherwise designated by the Company in a written notice to Participant (or other holder):
    BigBear.ai Holdings, Inc.
    Attn: General Counsel
    6811 Benjamin Franklin Drive
    Columbia, MD 21046

If to Participant, at Participant’s last known address on file with the Company. Any notice that is delivered personally or by overnight courier or telecopier in the manner provided herein shall be deemed to have been duly given to Participant when it is mailed by the Company or, if such notice is not mailed to Participant, upon receipt by Participant. Any notice that is addressed and mailed in the manner herein provided shall be conclusively presumed to have been given to the party to whom it is addressed at the close of business, local time of the recipient, on the fourth day after the day it is so placed in the mail.

4.3Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.
4.4Conformity to Securities Laws. Participant acknowledges that the Plan, the Grant Notice and this Agreement are intended to conform to the extent necessary with all Applicable 

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Laws and, to the extent Applicable Laws permit, will be deemed amended as necessary to conform to Applicable Laws.

4.5Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement will inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth in the Plan, this Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto.
4.6Limitations Applicable to Section 16 Persons. Notwithstanding any other provision of the Plan or this Agreement, if Participant is subject to Section 16 of the Exchange Act, the Plan, the Grant Notice, this Agreement, the RSUs will be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3) that are requirements for the application of such exemptive rule. To the extent Applicable Laws permit, this Agreement will be deemed amended as necessary to conform to such applicable exemptive rule.
4.7Entire Agreement. The Plan, the Grant Notice and this Agreement (including any exhibit hereto) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof.
4.8Agreement Severable. In the event that any provision of the Grant Notice or this Agreement is held illegal or invalid, the provision will be severable from, and the illegality or invalidity of the provision will not be construed to have any effect on, the remaining provisions of the Grant Notice or this Agreement.
4.9Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and may not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant will have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the RSUs, and rights no greater than the right to receive cash or the Shares as a general unsecured creditor with respect to the RSUs, as and when settled pursuant to the terms of this Agreement.
4.10Non-Transferability. During the lifetime of Participant, the RSUs may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, unless and until the Shares underlying the RSUs have been issued, and all restrictions applicable to such Shares have lapsed. Neither the RSUs not any interest or right therein shall be liable for the debts, contracts or engagements of Participant or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition is permitted by the preceding sentence.

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4.11Legends. If a stock certificate is issued with respect to the Shares delivered hereunder, such certificate shall bear such legend or legends as the Committee deems appropriate in order to reflect the restrictions set forth in this Agreement and to ensure compliance with the terms and provisions of this Agreement, the rules, regulations and other requirements of the Securities and Exchange Commission and any other Applicable Laws. If the Shares issued hereunder are held in book-entry form, then such entry will reflect that the Shares are subject to the restrictions set forth in this Agreement.
4.12No Right to Continued Service or Awards. Nothing in the Plan, the Grant Notice or this Agreement confers upon Participant any right to continue in the service of the Company or any Affiliate or interferes with or restricts in any way the rights of the Company and its Affiliates, which rights are hereby expressly reserved, to discharge or terminate the services of Participant at any time for any reason whatsoever, with or without Cause, except to the extent expressly provided otherwise in a written agreement between the Company or an Affiliate and Participant. The grant of the RSUs is a one-time benefit and does not create any contractual or other right to receive a grant of Awards or benefits in lieu of Awards in the future. Any future Awards will be granted at the sole discretion of the Company.
4.13Satisfaction of Claims. Any issuance or transfer of Shares or other property to Participant or Participant’s legal representative, heir, legatee or distribute, in accordance with the Plan, the Grant Notice and this Agreement shall be in full satisfaction of all claims of such person hereunder.
4.14Counterparts. The Grant Notice may be executed in one or more counterparts, including by way of any electronic signature, subject to Applicable Law, each of which will be deemed an original and all of which together will constitute one instrument.
4.15Consent to Electronic Delivery; Electronic Signature. In lieu of receiving documents in paper format, Participant agrees, to the fullest extent permitted by law, to accept electronic delivery of any documents that the Company may be required to deliver (including, without limitation, prospectuses, prospectus supplements, grant or award notifications and agreements, account statements, annual and quarterly reports and all other forms of communications) in connection with this and any other Award made or offered by the Company. Electronic delivery may be via a Company electronic mail system or by reference to a location on a Company intranet or third party website to which Participant has access. Participant hereby consents to any and all procedures the Company has established or may establish for an electronic signature system for delivery and acceptance of any such documents that the Company may be required to deliver, and agrees that Participant’s electronic signature is the same as, and shall have the same force and effect as, Participant’s manual signature.
4.16Company Recoupment of Awards. Participant’s rights with respect to this Award shall in all events be subject to (a) any right that the Company may have under any Company recoupment policy or other agreement or arrangement with Participant, or (b) any right or obligation that the Company may have regarding the clawback of “incentive-based compensation” under Section 10D of the Exchange Act and any applicable rules and regulations promulgated thereunder from time to time by the U.S.  Securities and Exchange Commission.

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4.17Code Section 409A.  Notwithstanding anything herein or in the Plan to the contrary, the RSUs granted pursuant to this Agreement are intended to be exempt from or compliant with the applicable requirements of Section 409A of the Code and shall be limited, construed and interpreted in accordance with such intent. If Participant is deemed to be a “specified employee” within the meaning of Section 409A of the Code, as determined by the Committee, at a time when Participant becomes eligible for settlement of the RSUs upon his or her “separation from service” within the meaning of Section 409A of the Code, then to the extent necessary to prevent any accelerated or additional tax under Section 409A of the Code, such settlement will be delayed until the earlier of: (a) the date that is six months following Participant’s separation from service and (b) Participant’s death. Notwithstanding the foregoing, the Company and its Affiliates make no representations that the RSUs provided under this Agreement are exempt from or compliant with Section 409A of the Code and in no event shall the Company or any Affiliate be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Participant on account of non-compliance with Section 409A of the Code.
* * * * *
A-6Exhibit 4.13

 

AMENDMENT TO THE THIRD AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT

 

This Amendment (this “Amendment”)
to the Third Amended and Restated Investors’ Rights Agreement, dated October 1, 2021 (the “Investors Rights Agreement”),
is entered into as of [March 30, 2022], 2022 by and between Arbe Robotics Ltd., company no. 51-533312-8 (the “Company”),
Noam Arkind, Oz Fixman, and Kobi Marenko (the “Founders”) and the Holders party to the Investors Rights Agreement (each
an “Investor” and collectively the “Investors”).

 

RECITALS

 

WHEREAS, pursuant
to and in accordance with Section 2.7 of the Investors Rights Agreement, the parties wish to amend Section 1.12 of the Investors Rights
Agreement in order to extend the period of the Lock-Up under the Investors Rights Agreement;

 

NOW, THEREFORE, in
consideration of the foregoing and the mutual premises set forth herein, the parties hereby agree as follows:

 

		1.	Amendments

 

Section 1.12 is
hereby amended and replaced in its entirety by the following:

 

“1.12 “Market
Stand-Off” Agreement Each Holder and each Founder hereby agrees that it will not, without the prior written consent of
the managing underwriter of the Company (or, in the case of an Initial Offering that is a SPAC Transaction, the prior written
consent of the Company), during the period commencing on the date of the final prospectus relating to any underwritten offering of
the Company, or in the case of an Initial Offering that is a SPAC Transaction, the date of the consummation of the SPAC Transaction
and ending on the earlier of (a) the date specified by the Company and, if applicable, the managing underwriter (such period not to
exceed two hundred and seventy (270) days following the Initial Offering or ninety (90) days in any subsequent offering, as is
required by (x) the underwriter in case of any offering or (y) by the Company in case of a SPAC Transaction, provided that in
each case such period may be extended upon the request of the managing underwriter (in the case of any offering) or the Company (in
the case of a SPAC Transaction), for an additional period of up to fifteen (15) days if the Company issues or proposes to issue an
earnings or other public release within fifteen (15) days of the expiration of such lockup period) and (b) the date on which the
closing price of the Company Ordinary Shares equals or exceeds $9.00 per share (as adjusted for stock splits, stock dividends,
reorganizations, recapitalizations and the like) for any twenty (20) trading days within any thirty (30) trading day period
commencing at least one-hundred fifty (150) days after the Initial Offering: (i) lend, offer, pledge, sell, contract to sell, sell
any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or
otherwise transfer or dispose of, directly or indirectly, any Ordinary Shares or any securities convertible into or exercisable or
exchangeable for Ordinary Shares (whether such shares or any such securities are then owned by the Holder or Founder, as the case
may be, or are thereafter acquired by the Holder or Founder), or (ii) enter into any swap or other arrangement that transfers to
another, in whole or in part, any of the economic consequences of ownership of the Ordinary Shares, whether any such transaction
described in clause (i) or (ii) above is to be settled by delivery of Ordinary Shares or such other securities, in cash or otherwise
(the “Lock-Up”). The foregoing provisions of this Section 1.12 shall apply only to the Company’s Initial
Offering or any subsequent offering, shall not apply to the sale of any shares to an underwriter pursuant to an underwriting
agreement, and shall only be applicable to the Holders if all officers and directors and shareholders of the Company holding more
than one percent (1%) of the share capital of the Company enter into similar agreements (after giving effect to conversion into
Ordinary Shares of all outstanding preferred shares, if any). The underwriters in connection with the Company’s Initial
Offering or any subsequent offering (as applicable) are intended third party beneficiaries of this Section 1.12 and shall have the
right, power and authority to enforce the provisions hereof as though they were a party hereto. In addition, at the
underwriters’ request (or, in the case of an Initial Offering that is a SPAC Transaction, the Company’s request), each
Holder shall enter into a lock-up agreement in customary form reflecting the foregoing. Notwithstanding the foregoing, any release
of a Lock-Up by the underwriters shall only be effective if made on a pro rata basis, including with respect to management and
employees, and any lock-up agreement with underwriters shall contain a clause to this effect. The obligations described in this
Section 1.12 shall not apply to a registration relating solely to employee benefit plans on Form S-8 or similar forms that may be
promulgated in the future, or a registration relating solely to a Rule 145 transaction on Form F-4 or similar forms that may be
promulgated in the future (other than a SPAC Transaction, to which these obligations will apply).

 

     

     

    

 

In order to enforce the foregoing covenant, the
Company may impose stop-transfer instructions with respect to the Registrable Securities of each Holder (and the shares or securities
of every other person subject to the foregoing restriction, including any Shareholder) until the end of such period.

 

To the extent that there shall be discretionary
releases of shares from the Lock-Up, such discretionary releases of shares shall be allocated on a pro rata basis based on the number
of shares of Ordinary Shares held by all shareholders that are subject to the Lock-Up.

 

		2.	Miscellaneous

 

		2.1.	Capitalized Terms. Unless otherwise specifically set forth herein, capitalized terms not defined
hereunder shall have the meanings ascribed to them in the Investors Rights Agreement.

 

		2.2.	Effective Date. This Amendment shall become effective as of the date of execution by the Company
on the one part and the Holders holding the majority of the Registrable Securities on the second part (the “Effective Date”).

 

		2.3.	Counterparts. This Amendment may be executed in any number of counterparts, each of which shall
be deemed an original and enforceable against the parties, and all of which together shall constitute one and the same instrument.

 

		2.4.	References to the Investors Rights Agreement. Upon execution of this Amendment, the Investors Rights
Agreement shall be deemed to have been amended as of the Effective Date.

 

		2.5.	Remaining Terms. All other terms of the Investors Rights Agreement shall, subject to the above,
remain and continue in full force and effect. In the event of any contradiction between this Amendment and the Investors Rights Agreement,
the provisions of this Amendment shall prevail

 

		2.6.	Severability. If any term or provision of this Amendment is held to be illegal or unenforceable,
the validity of enforceability of the remainder of this Amendment will not be affected.

 

[Signature page to follow]

 

    2

     

    

 

IN WITNESS WHEREOF,
the parties have executed this Amendment:

 

	Company:	 
	 	 	 
	 	 
	Arbe Robotics Ltd.	 
	 	 
	By: 	 	 
	Title:	 	 

 

 

[Signature Page to Amendment
to Investors’ Rights Agreement Amendment]

 

    3

     

    

 

IN WITNESS WHEREOF,
the parties have executed this Amendment:

 

	Founders:	 
	 	 
	 	 
	Noam
    Arkind	 
	 	 
	 	 
	Oz
    Fixman	 
	 	 
	 	 
	Kobi
    Marenko	 

 

 

[Signature Page to Amendment
to Investors’ Rights Agreement Amendment]

 

    4

     

    

 

IN WITNESS WHEREOF,
the parties have executed this Amendment:

 

	Investor:	 	 
	 	 	 
	Name of Investor:		 
	 	 	 
	Signed by:		 
	 	 	 
	Address:		 

 

 

[Signature Page to Amendment
to Investors’ Rights Agreement Amendment]

 

 

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