Document:

Exhibit 10.3

 

FORM OF NON-EXECUTIVE EMPLOYEE
RSU AWARD AGREEMENT

 

REDBOX ENTERTAINMENT INC.

2021 OMNIBUS INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT

 

THIS RESTRICTED STOCK UNIT
AWARD AGREEMENT (this “Agreement”), is entered into as of [__________], 20[__] (the “Date of Grant”),
by and between Redbox Entertainment Inc., a Delaware corporation (the “Company”), and [________] (the “Participant”).
Capitalized terms used in this Agreement and not otherwise defined herein have the meanings ascribed to such terms in the Redbox Entertainment
Inc. 2021 Omnibus Incentive Plan, as amended, restated or otherwise modified from time to time in accordance with its terms (the “Plan”).

 

WHEREAS, the Company has adopted
the Plan, pursuant to which restricted stock units (“RSUs”) may be granted; and

 

WHEREAS, the Committee has
determined that it is in the best interests of the Company and its stockholders to grant the RSUs provided for herein to the Participant
on the terms and subject to the conditions set forth herein.

 

NOW, THEREFORE, for and in
consideration of the premises and the covenants of the parties contained in this Agreement, and for other good and valuable consideration,
the receipt of which is hereby acknowledged, the parties hereto, for themselves, their successors and assigns, hereby agree as follows:

 

		1.	Grant of Restricted Stock Units.

 

(a)            Grant.
The Company hereby grants to the Participant a total of [_____] RSUs, on the terms and subject to the conditions set forth in this Agreement
and as otherwise provided in the Plan. The RSUs shall vest in accordance with Section 2. The RSUs shall be credited to a separate
book-entry account maintained for the Participant on the books of the Company.

 

(b)            Incorporation
by Reference. The provisions of the Plan are incorporated herein by reference. Except as otherwise expressly set forth herein, this
Agreement shall be construed in accordance with the provisions of the Plan and any interpretations, amendments, rules and regulations
promulgated by the Committee from time to time pursuant to the Plan. The Committee shall have final authority to interpret and construe
the Plan and this Agreement and to make any and all determinations under them, and its decision shall be binding and conclusive upon the
Participant and the Participant’s beneficiary in respect of any questions arising under the Plan or this Agreement; provided, that
nothing herein shall constitute a waiver of the Participant’s right to challenge any incorrect determination by the Committee as
provided herein, in the Plan, or under applicable law. The Participant acknowledges that the Participant has received a copy of the Plan
and has had an opportunity to review the Plan and agrees to be bound by all the terms and provisions of the Plan.

 

2.            Vesting;
Settlement.

 

(a)            Except
as may otherwise be provided herein, the RSUs shall vest [on the first anniversary][in equal installments on each of the first two (2) anniversaries]
[in equal installments on each of the first three (3) anniversaries] of the Vesting Commencement Date ([the][each such date, a] “Vesting
Date”), subject to the Participant’s continued employment with the Company or any of its Affiliates through the Vesting
Date. [Any fractional RSU resulting from the application of the vesting schedule shall be aggregated and the RSU resulting from such aggregation
shall vest on the final Vesting Date.] Upon vesting, the RSUs shall no longer be subject to forfeiture pursuant to Section 4 hereof.
For purposes of this Agreement, the “Vesting Commencement Date” is _______, 20[__].

 

     

     

    

 

(b)            Each
RSU shall be settled within ten (10) days following the Vesting Date in shares of Common Stock.

 

3.            Dividend
Equivalents. In the event of any issuance of a cash dividend on the shares of Common Stock (a “Dividend”), the
Participant shall be credited, as of the payment date for such Dividend, with an additional number of RSUs (each, an “Additional
RSU”) equal to the quotient obtained by dividing (x) the product of (i) the number of RSUs granted pursuant to this
Agreement and outstanding as of the record date for such Dividend multiplied by (ii) the amount of the Dividend per share, by (y) the
Fair Market Value per share on the payment date for such Dividend, such quotient to be rounded to the nearest hundredth. Once credited,
each Additional RSU shall be treated as an RSU granted hereunder and shall be subject to all terms and conditions set forth in this Agreement
and the Plan.

 

4.            Termination
of Employment or Services.

 

(a)          Generally.
Except as otherwise provided herein, if the Participant’s employment with, membership on the board of directors of, or engagement
to provide services to the Company or any of its Affiliates terminates for any reason, all unvested RSUs shall be canceled immediately
and the Participant shall not be entitled to receive any payments with respect thereto.

 

(b)            Change
in Control.

 

Notwithstanding anything to the contrary in Section 4,
if the Participant’s employment with the Company or any of its Affiliates is terminated by the Company without Cause during the
twelve (12) months after the date of a Change in Control, then all unvested RSUs shall become
fully vested as of the date of termination, which shall be the final Vesting Date. Each RSU that vests in accordance with this Section 4(b) shall
be settled in accordance with the terms of Section 2(b).

 

5.            Rights
as a Stockholder. The Participant shall not be deemed for any purpose to be the owner of any shares of Common Stock underlying the
RSUs unless, until and to the extent that (i) the Company shall have issued and delivered to the Participant the shares of Common
Stock underlying the RSUs and (ii) the Participant’s name shall have been entered as a stockholder of record with respect to
such shares of Common Stock on the books of the Company. The Company shall cause the actions described in clauses (i) and (ii) of
the preceding sentence to occur promptly following settlement as contemplated by this Agreement, subject to compliance with applicable
laws.

 

6.            Compliance
with Legal Requirements.

 

(a)            Generally.
The granting and settlement of the RSUs, and any other obligations of the Company under this Agreement, shall be subject to all applicable
U.S. federal, state, territorial and local laws, rules and regulations, all applicable non-U.S. laws, rules and regulations
and to such approvals by any regulatory or governmental agency as may be required. The Participant agrees to take all steps that the Committee
or the Company determines are reasonably necessary to comply with all applicable provisions of U.S. federal and state securities law and
non-U.S. securities law in exercising the Participant’s rights under this Agreement.

 

(b)           Tax
Withholding. Vesting and settlement of the RSUs shall be subject to the Participant’s satisfying any applicable U.S. federal,
state and local tax withholding obligations and non-U.S. tax withholding obligations. The Company shall have the right and is hereby authorized
to withhold from any amounts payable to the Participant in connection with the RSUs or otherwise the amount of any required withholding
taxes in respect of the RSUs, their settlement or any payment or transfer of the RSUs or under the Plan and to take any such other action
as the Committee or the Company deem necessary to satisfy all obligations for the payment of such withholding taxes (up to the maximum
permissible withholding amounts).

 

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(i)            In
this regard, the Participant hereby irrevocably appoints ETRADE or any stock plan service provider or brokerage firm designated by the
Company for such purpose (the “Agent”) as the Participant’s Agent, and authorizes the Agent, to:

 

(A)           Sell
on the open market at the then prevailing market price(s), on Participant’s behalf, as soon as practicable on or after the vesting
and settlement date for any RSU, a number of shares of Common Stock (rounded up to the next whole number) sufficient to generate proceeds
to satisfy the tax withholding obligations and all applicable fees and commissions due to, or required to be collected by, the Agent;

 

(B)            Remit
directly to the Company the cash amount necessary to satisfy the tax withholding obligations;

 

(C)            Retain
the amount required to cover all applicable fees and commissions due to, or required to be collected by, the Agent, relating directly
to the sale of shares of Common Stock referred to in clause (A) above; and

 

(D)            Remit
any remaining funds to the Participant.

 

(ii)          If
the sale of shares of Common Stock required by Section 6(b)(i) above is prohibited by a legal, contractual or regulatory restriction,
the Participant may elect to satisfy the tax withholding obligations by paying cash to the Company or the Company may, in its discretion,
permit the Participant to elect to satisfy the tax withholding obligations by having the Company withhold shares of Common Stock that
would otherwise be deliverable to the Participant upon settlement of the RSUs with a Fair Market Value equal to such tax withholding liability.

 

7.            Clawback.
Notwithstanding anything to the contrary contained herein, the Committee may cancel the RSU award if the Participant, without the
consent of the Company, has engaged in or engages in activity that is in conflict with or adverse to the interests of the Company or any
Affiliate while employed by the Company or any Affiliate, including fraud or conduct contributing to any financial restatements or irregularities[,
or any violation of any of the covenants set forth on Exhibit A attached hereto] or any other non-competition, non-solicitation,
non-disparagement or non-disclosure covenant or agreement with the Company or any Affiliate (after giving effect to any applicable cure
period set forth therein), as determined by the Committee. In such event, the Participant will forfeit any compensation, gain or other
value realized thereafter on the vesting or settlement of the RSUs, the sale or other transfer of the RSUs, or the sale of shares of Common
Stock acquired in respect of the RSUs (provided that the RSUs vested during the twelve (12)-month period immediately prior to the Participant’s
adverse activity), and must promptly repay such amounts to the Company. If the Participant receives any amount in excess of what the Participant
should have received under the terms of the RSUs for any reason (including without limitation by reason of a financial restatement, mistake
in calculations or other administrative error), all as determined by the Committee, then the Participant shall promptly repay any such
excess amount to the Company. To the extent required by applicable law or the rules and regulations of the NASDAQ or any other securities
exchange or inter-dealer quotation system on which the Common Stock is listed or quoted, or if so required pursuant to a written policy
adopted by the Company, the RSUs shall be subject (including on a retroactive basis) to clawback, forfeiture or similar requirements (and
such requirements shall be deemed incorporated by reference into this Agreement).

 

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		8.	[Restrictive Covenants.

 

(a)            Without
limiting any other non-competition, non-solicitation, non-disparagement or non-disclosure or other similar agreement to which the Participant
may be a party, the Participant shall be subject to the confidentiality and restrictive covenants set forth on Exhibit A attached
hereto, which Exhibit A is incorporated herein and forms part of this Agreement.

 

(b)            In
the event that the Participant violates any of the restrictive covenants referred to in this Section 8, in addition to any other
remedy that may be available at law or in equity, the RSUs shall be automatically forfeited effective as of the date on which such violation
first occurs. The foregoing rights and remedies are in addition to any other rights and remedies that may be available to the Company
and shall not prevent (and the Participant shall not assert that they shall prevent) the Company from bringing one or more actions in
any applicable jurisdiction to recover damages as a result of the Participant’s breach of such restrictive covenants.]

 

		9.	Miscellaneous.

 

(a)            Transferability.
The RSUs may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered (a “Transfer”)
by the Participant other than by will or by the laws of descent and distribution, pursuant to a qualified domestic relations order or
as otherwise permitted under Section 15(b) of the Plan. Any attempted Transfer of the RSUs contrary to the provisions hereof,
and the levy of any execution, attachment or similar process upon the RSUs, shall be null and void and without effect.

 

(b)          Waiver.
Any right of the Company contained in this Agreement may be waived in writing by the Committee. No waiver of any right hereunder by any
party shall operate as a waiver of any other right, or as a waiver of the same right with respect to any subsequent occasion for its exercise,
or as a waiver of any right to damages. No waiver by any party of any breach of this Agreement shall be held to constitute a waiver of
any other breach or a waiver of the continuation of the same breach.

 

(c)            Section 409A.
The RSUs are intended to be exempt from, or compliant with, Section 409A of the Code. Notwithstanding the foregoing or any provision
of the Plan or this Agreement, if any provision of the Plan or this Agreement contravenes Section 409A of the Code or could cause
the Participant to incur any tax, interest or penalties under Section 409A of the Code, the Committee may, in its sole discretion
and without the Participant’s consent, modify such provision to (i) comply with, or avoid being subject to, Section 409A
of the Code, or to avoid the incurrence of taxes, interest and penalties under Section 409A of the Code, and/or (ii) maintain,
to the maximum extent practicable, the original intent and economic benefit to the Participant of the applicable provision without materially
increasing the cost to the Company or contravening the provisions of Section 409A of the Code. This Section 9(c) does not
create an obligation on the part of the Company to modify the Plan or this Agreement and does not guarantee that the RSUs will not be
subject to interest and penalties under Section 409A.

 

(d)            General
Assets. All amounts credited in respect of the RSUs to the book-entry account under this Agreement shall continue for all purposes
to be part of the general assets of the Company. The Participant’s interest in such account shall make the Participant only a general,
unsecured creditor of the Company.

 

(e)           Notices.
Any notices provided for in this Agreement or the Plan shall be in writing and shall be deemed sufficiently given if either hand delivered
or if sent by fax, pdf/email or overnight courier, or by postage-paid first-class mail. Notices sent by mail shall be deemed received
three business days after mailing but in no event later than the date of actual receipt. Notices shall be directed, if to the Participant,
at the Participant’s address indicated by the Company’s records, or if to the Company, to the attention of the General Counsel
at the Company’s principal executive office.

 

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(f)             Severability.
The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision
of this Agreement, and each other provision of this Agreement shall be severable and enforceable to the extent permitted by law.

 

(g)            No
Rights to Employment, Directorship or Service. Nothing contained in this Agreement shall be construed as giving the Participant any
right to be retained, in any position, as an employee, consultant or director of the Company or any of its Affiliates or shall interfere
with or restrict in any way the rights of the Company or any of its Affiliates, which are hereby expressly reserved, to remove, terminate
or discharge the Participant at any time for any reason whatsoever.

 

(h)            Fractional
Shares. In lieu of issuing a fraction of a share of Common Stock resulting from adjustment of the RSUs pursuant to Section 11
of the Plan or otherwise, the Company shall be entitled to pay to the Participant an amount in cash equal to the Fair Market Value of
such fractional share.

 

(i)            Beneficiary.
The Participant may file with the Committee a written designation of a beneficiary on such form as may be prescribed by the Committee
and may, from time to time, amend or revoke such designation.

 

(j)            Successors.
The terms of this Agreement shall be binding upon and inure to the benefit of the Company and its successors and assigns, and of the Participant
and the beneficiaries, executors, administrators, heirs and successors of the Participant.

 

(k)           Entire
Agreement. This Agreement [(including Exhibit A attached hereto)] and the Plan contain the entire agreement and understanding
of the parties hereto with respect to the subject matter contained herein and supersede all prior communications, representations and
negotiations in respect thereto, other than any other non-competition, non-solicitation, non-disparagement or non-disclosure or other
similar agreement to which the Participant may be a party, the covenants of which shall continue to apply to the Participant [in addition
to the covenants in Exhibit A hereto], in accordance with the terms of such agreement. No change, modification or waiver of
any provision of this Agreement shall be valid unless the same be in writing and signed by the parties hereto, except for any changes
permitted without consent under Section 11 or 14 of the Plan.

 

(l)            Governing
Law and Venue. This Agreement shall be construed and interpreted in accordance with the laws of the State of Delaware, without regard
to principles of conflicts of laws thereof, or principles of conflicts of laws of any other jurisdiction that could cause the application
of the laws of any jurisdiction other than the State of Delaware.

 

(i)            Dispute
Resolution; Consent to Jurisdiction. All disputes between or among any Persons arising out of or in any way connected with the Plan,
this Agreement or the RSUs shall be solely and finally settled by the Committee, acting in good faith, the determination of which shall
be final. Any matters not covered by the preceding sentence shall be solely and finally settled in accordance with the Plan, and the Participant
and the Company consent to the personal jurisdiction of the United States federal and state courts sitting in Wilmington, Delaware, as
the exclusive jurisdiction with respect to matters arising out of or related to the enforcement of the Committee’s determinations
and resolution of matters, if any, related to the Plan or this Agreement not required to be resolved by the Committee. Each such Person
hereby irrevocably consents to the service of process of any of the aforementioned courts in any such suit, action or proceeding by the
mailing of copies thereof by registered or certified mail, postage prepaid, to the last known address of such Person, such service to
become effective ten (10) days after such mailing.

 

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(ii)            Waiver
of Jury Trial. Each party hereto hereby waives, to the fullest extent permitted by applicable law, any right it may have to a trial
by jury in any legal proceeding directly or indirectly arising out of or relating to this Agreement or the transactions contemplated (whether
based on contract, tort or any other theory). Each party hereto (A) certifies that no representative, agent or attorney of any other
party has represented, expressly or otherwise, that such other party would not, in the event of litigation, seek to enforce the foregoing
waiver and (B) acknowledges that it and the other parties hereto have been induced to enter into this Agreement by, among other things,
the mutual waivers and certifications in this section.

 

(m)          Headings.
The headings of the Sections hereof are provided for convenience only and are not to serve as a basis for interpretation or construction,
and shall not constitute a part, of this Agreement.

 

(n)            Counterparts.
This Agreement may be executed in one or more counterparts (including via facsimile and electronic image scan (pdf)), each of which shall
be deemed to be an original, but all of which together shall constitute one and the same instrument and shall become effective when one
or more counterparts have been signed by each of the parties and delivered to the other parties.

 

(o)           Electronic
Signature and Delivery. This Agreement may be accepted by return signature or by electronic confirmation. By accepting this Agreement,
the Participant consents to the electronic delivery of prospectuses, annual reports and other information required to be delivered by
U.S. Securities and Exchange Commission rules (which consent may be revoked in writing by the Participant at any time upon three
business days’ notice to the Company, in which case subsequent prospectuses, annual reports and other information will be delivered
in hard copy to the Participant).

 

(p)          Electronic
Participation in Plan. The Company may, in its sole discretion, decide to deliver any documents related to current or future participation
in the Plan by electronic means. The Participant hereby consents to receive such documents by electronic delivery and agrees to participate
in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.

 

[Remainder of page intentionally blank]

 

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IN WITNESS WHEREOF, this Restricted Stock Unit
Award Agreement has been executed by the Company and the Participant as of the day first written above.

 

	 	REDBOX ENTERTAINMENT INC.
	 	 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	PARTICIPANT
	 	 
	 	 
	 	[Insert Name]

 

[Signature Page to Restricted Stock Unit Award Agreement]

 

     

     

    

 

Exhibit A

 

Restrictive Covenants

 

[By accepting the grant of the RSUs hereunder,
in addition to any other representations, warranties, and covenants set forth this Agreement, the Participant agrees to be subject to
and comply with the following covenants.

 

	1.	Confidentiality. The Participant hereby agrees that during the Participant’s employment or
service with the Company or its Subsidiaries, and thereafter, the Participant will not disclose confidential or proprietary information,
or trade secrets, related to any business of the Company or the Subsidiary.

 

	2.	Non-Solicitation. Except as prohibited by law, the Participant further agrees that during the Participant’s
employment or service with the Company or its Subsidiaries, and for the one (1) year period thereafter, the Participant will not,
directly or indirectly, on the Participant’s own behalf or on behalf of another (i) solicit, recruit, aid or induce any employee
of the Company or any of its Subsidiaries to leave their employment with the Company or its Subsidiaries in order to accept employment
with or render services to another person or entity unaffiliated with the Company or its Subsidiaries, or hire or knowingly take any action
to assist or aid any other person or entity in identifying or hiring any such employee, or (ii) solicit, aid, or induce any customer
of the Company or any of its Subsidiaries to purchase goods or services then sold by the Company or its Subsidiaries from another person
or entity, or assist or aid any other persons or entity in identifying or soliciting any such customer, or (iii) otherwise interfere
with the relationship of the Company or any of its Subsidiaries with any of its employees, customers, agents, or representatives.

 

	3.	The Participant acknowledges and agrees that irreparable injury will result to the Company, and to its
business, in the event of a breach by the Participant of any of the Participant’s covenants and commitments under this Agreement,
including the covenants of confidentiality, non-competition and non-solicitation. The Company reserves all rights to seek any and all
remedies and damages permitted under law, including, but not limited to, injunctive relief, equitable relief and compensatory damages.
The Participant acknowledges and agrees the non-competition and non-solicitation provisions contained in this Agreement are expressly
intended to benefit the Company (which includes all parents, subsidiaries and/or affiliated entities as third party beneficiaries) and
its successors and assigns; and the Participant expressly authorizes the Company (including all third party beneficiaries) and its successors
and assigns to enforce these provisions. In the event of any breach or violation by the Participant of any of the restrictive covenants
in this Exhibit A, the time period of such covenant with respect to the Participant shall, to the fullest extent permitted
by law, be tolled until such breach or violation is resolved.

 

	4.	The covenants in this Exhibit A are severable and separate, and the unenforceability of any
specific covenant shall not affect the provisions of any other covenant. If any provision of this Exhibit A relating to the
time period, scope, or geographic area of the restrictive covenants shall be declared by a court of competent jurisdiction or arbitrator
to exceed the maximum time period, scope, or geographic area, as applicable, that such court or arbitrator deems reasonable and enforceable,
then this Agreement shall automatically be considered to have been amended and revised to reflect such determination.

 

	5.	All of the covenants in this Exhibit A shall be construed as an agreement independent of any
other provisions in Exhibit A, and the existence of any claim or cause of action the Participant may have against the Company
(which includes all parents, subsidiaries and/or affiliated entities as third party beneficiaries), whether predicated on this Exhibit A
or otherwise, shall not constitute a defense to the enforcement by the Company (which includes all parents, subsidiaries and/or affiliated
entities as third party beneficiaries) of such covenants.

 

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	6.	The Participant has carefully read and considered the provisions of this Exhibit A and, having
done so, agrees that the restrictive covenants in this Exhibit A impose a fair and reasonable restraint on the Participant
and are reasonably required to protect the interests of the Company (which includes all parents, subsidiaries and/or affiliated entities
as third party beneficiaries) and their respective officers, directors, employees, and equityholders.]

 

*          *          *

 

    A-2Exhibit 10.4

 

FORM OF EXECUTIVE RSU AWARD
AGREEMENT

 

REDBOX ENTERTAINMENT INC.

2021 OMNIBUS INCENTIVE PLAN

RESTRICTED STOCK UNIT AWARD AGREEMENT

 

THIS RESTRICTED STOCK UNIT
AWARD AGREEMENT (this “Agreement”), is entered into as of [__________], 20[__] (the “Date of Grant”),
by and between Redbox Entertainment Inc., a Delaware corporation (the “Company”), and [________] (the “Participant”).
Capitalized terms used in this Agreement and not otherwise defined herein have the meanings ascribed to such terms in the Redbox Entertainment
Inc. 2021 Omnibus Incentive Plan, as amended, restated or otherwise modified from time to time in accordance with its terms (the “Plan”).

 

WHEREAS, the Company has adopted
the Plan, pursuant to which restricted stock units (“RSUs”) may be granted; and

 

WHEREAS, the Committee has
determined that it is in the best interests of the Company and its stockholders to grant the RSUs provided for herein to the Participant
on the terms and subject to the conditions set forth herein.

 

NOW, THEREFORE, for and in
consideration of the premises and the covenants of the parties contained in this Agreement, and for other good and valuable consideration,
the receipt of which is hereby acknowledged, the parties hereto, for themselves, their successors and assigns, hereby agree as follows:

 

		1.	Grant of Restricted Stock Units.

 

(a)            Grant.
The Company hereby grants to the Participant a total of [_____] RSUs, on the terms and subject to the conditions set forth in this Agreement
and as otherwise provided in the Plan. The RSUs shall vest in accordance with Section 2. The RSUs shall be credited to a separate
book-entry account maintained for the Participant on the books of the Company.

 

(b)            Incorporation
by Reference. The provisions of the Plan are incorporated herein by reference. Except as otherwise expressly set forth herein, this
Agreement shall be construed in accordance with the provisions of the Plan and any interpretations, amendments, rules and regulations
promulgated by the Committee from time to time pursuant to the Plan. The Committee shall have final authority to interpret and construe
the Plan and this Agreement and to make any and all determinations under them, and its decision shall be binding and conclusive upon the
Participant and the Participant’s beneficiary in respect of any questions arising under the Plan or this Agreement; provided, that
nothing herein shall constitute a waiver of the Participant’s right to challenge any incorrect determination by the Committee as
provided herein, in the Plan, or under applicable law. The Participant acknowledges that the Participant has received a copy of the Plan
and has had an opportunity to review the Plan and agrees to be bound by all the terms and provisions of the Plan.

 

		2.	Vesting; Settlement.

 

(a)            Except
as may otherwise be provided herein, the RSUs shall vest in equal installments on each of the first three (3) anniversaries of the
Vesting Commencement Date (each such date, a “Vesting Date”), subject to the Participant’s continued employment
with the Company or any of its Affiliates through the Vesting Date. Any fractional RSU resulting from the application of the vesting schedule
shall be aggregated and the RSU resulting from such aggregation shall vest on the final Vesting Date. Upon vesting, the RSUs shall no
longer be subject to forfeiture pursuant to Section 4 hereof. For purposes of this Agreement, the “Vesting Commencement Date”
is _______, 20[__].

 

     

     

    

 

(b)            Each
RSU shall be settled within ten (10) days following the Vesting Date in shares of Common Stock.

 

3.            Dividend
Equivalents. In the event of any issuance of a cash dividend on the shares of Common Stock (a “Dividend”), the
Participant shall be credited, as of the payment date for such Dividend, with an additional number of RSUs (each, an “Additional
RSU”) equal to the quotient obtained by dividing (x) the product of (i) the number of RSUs granted pursuant to this
Agreement and outstanding as of the record date for such Dividend multiplied by (ii) the amount of the Dividend per share, by (y) the
Fair Market Value per share on the payment date for such Dividend, such quotient to be rounded to the nearest hundredth. Once credited,
each Additional RSU shall be treated as an RSU granted hereunder and shall be subject to all terms and conditions set forth in this Agreement
and the Plan.

 

		4.	Termination of Employment or Services.

 

(a)            Generally.
If the Participant’s employment with the Company or its Affiliates is terminated (i) by the Company or its Affiliates without
Cause, (ii) as a result of the Participant’s death, or (iii) by the Company or its Affiliates due to Disability, the Participant
shall be eligible to immediately vest in a number of RSUs equal to the product of the (x) the number of RSUs scheduled to vest on
the next vesting date following such termination of employment, multiplied by (y) a fraction, (1) the numerator of which is
equal to the number of days that have elapsed since the last RSU vesting date prior to the date of termination of employment or, if no
such vesting date has occurred, the Vesting Commencement Date, and (2) the denominator of which is 365. The remaining unvested RSUs,
after giving effect to this clause, are immediately forfeited upon the termination of the Participant’s employment. Each vested
RSU shall be settled in accordance with the terms of Section 2(b).

 

(b)            If
the Participant’s employment with the Company or any of its Affiliates is terminated by the Company or its Affiliates for Cause,
all vested and unvested RSUs shall be forfeited immediately and the Participant shall not be entitled to receive any payments with respect
thereto.

 

(c)            If
the Participant’s employment with the Company or any of its Affiliates terminates for any reason other than as set forth in Sections
4(a) and (b) hereof, all unvested RSUs shall be forfeited immediately and the Participant shall not be entitled to receive any
payments with respect thereto. Each vested RSU shall be settled in accordance with the terms of Section 2(b).

 

(d)            Change
in Control.

 

(i)            Notwithstanding
anything to the contrary in Section 4, if the Participant’s employment with the Company or any of its Affiliates is terminated
by the Company without Cause or by the Participant as a result of a Good Reason Resignation (defined below), in either case during the
period beginning sixty (60) days prior to the date of a Change in Control and ending twenty-four
(24) months after the date of such Change in Control, then all unvested RSUs shall become fully vested as of the date of termination,
which shall be the final Vesting Date. Each RSU that vests in accordance with this Section 4(b) shall be settled in accordance
with the terms of Section 2(b).

 

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(ii)            For
purposes of this Agreement, “Good Reason Resignation” (i) shall have the meaning given such term (or term of similar
import) in any employment, consulting, change-in-control, severance or any other agreement between the Participant and the Company or
an Affiliate, or severance plan in which the Participant is eligible to participate, in either case in effect at the time of the Participant’s
termination of employment or service with the Company and its Affiliates, or (ii) if “good reason resignation” or term
of similar import is not defined in, or in the absence of, any such employment, consulting, change-in-control, severance or any other
agreement between the Participant and the Company or an Affiliate, or severance plan in which the Participant is eligible to participate,
means any termination of the Participant’s employment or service with the Company and its Affiliates by the Participant that is
caused by any one or more of the following events that occurs during the period beginning sixty (60) days prior to the date of a Change
in Control and ending twenty-four (24) months after the date of such Change in Control:

 

(A)            Without
the Participant’s written consent, assignment to the Participant of any duties inconsistent in any material respect with the Participant’s
authority, duties or responsibilities as in effect immediately prior to the Change in Control that represent a material diminution of
such duties, or any other action by the Company that results in a material diminution in such authority, duties or responsibilities;

 

(B)            Without
the Participant’s written consent, a material change in the geographic location at which the Participant must perform services to
a location that is more than fifty (50) miles from the Participant’s principal place of business immediately preceding the Change
in Control, provided that such change in location extends the commute of such Participant; or

 

(C)            Without
the Participant’s written consent, a material reduction to the Participant’s base salary and cash bonus opportunity, taken
as a whole, as in effect immediately prior to the Change in Control.

 

Notwithstanding
the foregoing, the Participant shall be considered to have a Good Reason Resignation only if the Participant provides written notice to
the Company specifying in reasonable detail the events or conditions upon which the Participant is basing such Good Reason Resignation
and the Participant provides such notice within ninety (90) days after the event that gives rise to the Good Reason Resignation. Within
thirty (30) days after notice has been received, the Company shall have the opportunity, but shall have no obligation, to cure such events
or conditions that give rise to the Good Reason Resignation. If the Company does not cure such events or conditions within the thirty
(30)-day period, the Participant must terminate employment or service with the Company based on Good Reason Resignation within thirty
(30) days after the expiration of the cure period.

 

5.            Rights
as a Stockholder. The Participant shall not be deemed for any purpose to be the owner of any shares of Common Stock underlying the
RSUs unless, until and to the extent that (i) the Company shall have issued and delivered to the Participant the shares of Common
Stock underlying the RSUs and (ii) the Participant’s name shall have been entered as a stockholder of record with respect to
such shares of Common Stock on the books of the Company. The Company shall cause the actions described in clauses (i) and (ii) of
the preceding sentence to occur promptly following settlement as contemplated by this Agreement, subject to compliance with applicable
laws.

 

		6.	Compliance with Legal Requirements.

 

(a)            Generally.
The granting and settlement of the RSUs, and any other obligations of the Company under this Agreement, shall be subject to all applicable
U.S. federal, state, territorial and local laws, rules and regulations, all applicable non-U.S. laws, rules and regulations
and to such approvals by any regulatory or governmental agency as may be required. The Participant agrees to take all steps that the Committee
or the Company determines are reasonably necessary to comply with all applicable provisions of U.S. federal and state securities law and
non-U.S. securities law in exercising the Participant’s rights under this Agreement.

 

    3

     

    

 

(b)            Tax
Withholding. Vesting and settlement of the RSUs shall be subject to the Participant’s satisfying any applicable U.S. federal,
state and local tax withholding obligations and non-U.S. tax withholding obligations. The Company shall have the right and is hereby authorized
to withhold from any amounts payable to the Participant in connection with the RSUs or otherwise the amount of any required withholding
taxes in respect of the RSUs, their settlement or any payment or transfer of the RSUs or under the Plan and to take any such other action
as the Committee or the Company deem necessary to satisfy all obligations for the payment of such withholding taxes (up to the maximum
permissible withholding amounts).

 

(i)            In
this regard, the Participant hereby irrevocably appoints ETRADE or any stock plan service provider or brokerage firm designated by the
Company for such purpose (the “Agent”) as the Participant’s Agent, and authorizes the Agent, to:

 

(A)            Sell
on the open market at the then prevailing market price(s), on Participant’s behalf, as soon as practicable on or after the vesting
and settlement date for any RSU, a number of shares of Common Stock (rounded up to the next whole number) sufficient to generate proceeds
to satisfy the tax withholding obligations and all applicable fees and commissions due to, or required to be collected by, the Agent;

 

(B)            Remit
directly to the Company the cash amount necessary to satisfy the tax withholding obligations;

 

(C)            Retain
the amount required to cover all applicable fees and commissions due to, or required to be collected by, the Agent, relating directly
to the sale of shares of Common Stock referred to in clause (A) above; and

 

(D)            Remit
any remaining funds to the Participant.

 

(ii)            If
the sale of shares of Common Stock required by Section 6(b)(i) above is prohibited by a legal, contractual or regulatory restriction,
the Participant may elect to satisfy the tax withholding obligations by paying cash to the Company or the Company may, in its discretion,
permit the Participant to elect to satisfy the tax withholding obligations by having the Company withhold shares of Common Stock that
would otherwise be deliverable to the Participant upon settlement of the RSUs with a Fair Market Value equal to such tax withholding liability.

 

7.            Clawback.
Notwithstanding anything to the contrary contained herein, the Committee may cancel the RSU award if the Participant, without the
consent of the Company, has engaged in or engages in activity that is in conflict with or adverse to the interests of the Company or any
Affiliate while employed by the Company or any Affiliate, including fraud or conduct contributing to any financial restatements or irregularities,
or any violation of any of the covenants set forth on Exhibit A attached hereto or any other non-competition, non-solicitation,
non-disparagement or non-disclosure covenant or agreement with the Company or any Affiliate (after giving effect to any applicable cure
period set forth therein), as determined by the Committee. In such event, the Participant will forfeit any compensation, gain or other
value realized thereafter on the vesting or settlement of the RSUs, the sale or other transfer of the RSUs, or the sale of shares of Common
Stock acquired in respect of the RSUs (provided that the RSUs vested during the twenty-four (24)-month period immediately prior to the
Participant’s adverse activity), and must promptly repay such amounts to the Company. If the Participant receives any amount in
excess of what the Participant should have received under the terms of the RSUs for any reason (including without limitation by reason
of a financial restatement, mistake in calculations or other administrative error), all as determined by the Committee, then the Participant
shall promptly repay any such excess amount to the Company. To the extent required by applicable law or the rules and regulations
of the NASDAQ or any other securities exchange or inter-dealer quotation system on which the Common Stock is listed or quoted, or if so
required pursuant to a written policy adopted by the Company, the RSUs shall be subject (including on a retroactive basis) to clawback,
forfeiture or similar requirements (and such requirements shall be deemed incorporated by reference into this Agreement).

 

    4

     

    

 

		8.	Restrictive Covenants.

 

(a)            Without
limiting any other non-competition, non-solicitation, non-disparagement or non-disclosure or other similar agreement to which the Participant
may be a party, the Participant shall be subject to the confidentiality and restrictive covenants set forth on Exhibit A attached
hereto, which Exhibit A is incorporated herein and forms part of this Agreement.

 

(b)            In
the event that the Participant violates any of the restrictive covenants referred to in this Section 8, in addition to any other
remedy that may be available at law or in equity, the RSUs shall be automatically forfeited effective as of the date on which such violation
first occurs. The foregoing rights and remedies are in addition to any other rights and remedies that may be available to the Company
and shall not prevent (and the Participant shall not assert that they shall prevent) the Company from bringing one or more actions in
any applicable jurisdiction to recover damages as a result of the Participant’s breach of such restrictive covenants.

 

		9.	Miscellaneous.

 

(a)            Transferability.
The RSUs may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered (a “Transfer”)
by the Participant other than by will or by the laws of descent and distribution, pursuant to a qualified domestic relations order or
as otherwise permitted under Section 15(b) of the Plan. Any attempted Transfer of the RSUs contrary to the provisions hereof,
and the levy of any execution, attachment or similar process upon the RSUs, shall be null and void and without effect.

 

(b)            Waiver.
Any right of the Company contained in this Agreement may be waived in writing by the Committee. No waiver of any right hereunder by any
party shall operate as a waiver of any other right, or as a waiver of the same right with respect to any subsequent occasion for its exercise,
or as a waiver of any right to damages. No waiver by any party of any breach of this Agreement shall be held to constitute a waiver of
any other breach or a waiver of the continuation of the same breach.

 

(c)            Section 409A.
The RSUs are intended to be exempt from, or compliant with, Section 409A of the Code. Notwithstanding the foregoing or any provision
of the Plan or this Agreement, if any provision of the Plan or this Agreement contravenes Section 409A of the Code or could cause
the Participant to incur any tax, interest or penalties under Section 409A of the Code, the Committee may, in its sole discretion
and without the Participant’s consent, modify such provision to (i) comply with, or avoid being subject to, Section 409A
of the Code, or to avoid the incurrence of taxes, interest and penalties under Section 409A of the Code, and/or (ii) maintain,
to the maximum extent practicable, the original intent and economic benefit to the Participant of the applicable provision without materially
increasing the cost to the Company or contravening the provisions of Section 409A of the Code. This Section 9(c) does not
create an obligation on the part of the Company to modify the Plan or this Agreement and does not guarantee that the RSUs will not be
subject to interest and penalties under Section 409A.

 

(d)            General
Assets. All amounts credited in respect of the RSUs to the book-entry account under this Agreement shall continue for all purposes
to be part of the general assets of the Company. The Participant’s interest in such account shall make the Participant only a general,
unsecured creditor of the Company.

 

    5

     

    

 

(e)            Notices.
Any notices provided for in this Agreement or the Plan shall be in writing and shall be deemed sufficiently given if either hand delivered
or if sent by fax, pdf/email or overnight courier, or by postage-paid first-class mail. Notices sent by mail shall be deemed received
three business days after mailing but in no event later than the date of actual receipt. Notices shall be directed, if to the Participant,
at the Participant’s address indicated by the Company’s records, or if to the Company, to the attention of the General Counsel
at the Company’s principal executive office.

 

(f)            Severability.
The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision
of this Agreement, and each other provision of this Agreement shall be severable and enforceable to the extent permitted by law.

 

(g)            No
Rights to Employment, Directorship or Service. Nothing contained in this Agreement shall be construed as giving the Participant any
right to be retained, in any position, as an employee, consultant or director of the Company or any of its Affiliates or shall interfere
with or restrict in any way the rights of the Company or any of its Affiliates, which are hereby expressly reserved, to remove, terminate
or discharge the Participant at any time for any reason whatsoever.

 

(h)            Fractional
Shares. In lieu of issuing a fraction of a share of Common Stock resulting from adjustment of the RSUs pursuant to Section 11
of the Plan or otherwise, the Company shall be entitled to pay to the Participant an amount in cash equal to the Fair Market Value of
such fractional share.

 

(i)            Beneficiary.
The Participant may file with the Committee a written designation of a beneficiary on such form as may be prescribed by the Committee
and may, from time to time, amend or revoke such designation.

 

(j)            Successors.
The terms of this Agreement shall be binding upon and inure to the benefit of the Company and its successors and assigns, and of the Participant
and the beneficiaries, executors, administrators, heirs and successors of the Participant.

 

(k)            Entire
Agreement. This Agreement (including Exhibit A attached hereto) and the Plan contain the entire agreement and understanding
of the parties hereto with respect to the subject matter contained herein and supersede all prior communications, representations and
negotiations in respect thereto, other than any other non-competition, non-solicitation, non-disparagement or non-disclosure or other
similar agreement to which the Participant may be a party, the covenants of which shall continue to apply to the Participant in addition
to the covenants in Exhibit A hereto, in accordance with the terms of such agreement. No change, modification or waiver of
any provision of this Agreement shall be valid unless the same be in writing and signed by the parties hereto, except for any changes
permitted without consent under Section 11 or 14 of the Plan.

 

(l)            Governing
Law and Venue. This Agreement shall be construed and interpreted in accordance with the laws of the State of Delaware, without regard
to principles of conflicts of laws thereof, or principles of conflicts of laws of any other jurisdiction that could cause the application
of the laws of any jurisdiction other than the State of Delaware.

 

    6

     

    

 

(i)            Dispute
Resolution; Consent to Jurisdiction. All disputes between or among any Persons arising out of or in any way connected with the Plan,
this Agreement or the RSUs shall be solely and finally settled by the Committee, acting in good faith, the determination of which shall
be final. Any matters not covered by the preceding sentence shall be solely and finally settled in accordance with the Plan, and the Participant
and the Company consent to the personal jurisdiction of the United States federal and state courts sitting in Wilmington, Delaware, as
the exclusive jurisdiction with respect to matters arising out of or related to the enforcement of the Committee’s determinations
and resolution of matters, if any, related to the Plan or this Agreement not required to be resolved by the Committee. Each such Person
hereby irrevocably consents to the service of process of any of the aforementioned courts in any such suit, action or proceeding by the
mailing of copies thereof by registered or certified mail, postage prepaid, to the last known address of such Person, such service to
become effective ten (10) days after such mailing.

 

(ii)            Waiver
of Jury Trial. Each party hereto hereby waives, to the fullest extent permitted by applicable law, any right it may have to a trial
by jury in any legal proceeding directly or indirectly arising out of or relating to this Agreement or the transactions contemplated (whether
based on contract, tort or any other theory). Each party hereto (A) certifies that no representative, agent or attorney of any other
party has represented, expressly or otherwise, that such other party would not, in the event of litigation, seek to enforce the foregoing
waiver and (B) acknowledges that it and the other parties hereto have been induced to enter into this Agreement by, among other things,
the mutual waivers and certifications in this section.

 

(m)            Headings.
The headings of the Sections hereof are provided for convenience only and are not to serve as a basis for interpretation or construction,
and shall not constitute a part, of this Agreement.

 

(n)            Counterparts.
This Agreement may be executed in one or more counterparts (including via facsimile and electronic image scan (pdf)), each of which shall
be deemed to be an original, but all of which together shall constitute one and the same instrument and shall become effective when one
or more counterparts have been signed by each of the parties and delivered to the other parties.

 

(o)            Electronic
Signature and Delivery. This Agreement may be accepted by return signature or by electronic confirmation. By accepting this Agreement,
the Participant consents to the electronic delivery of prospectuses, annual reports and other information required to be delivered by
U.S. Securities and Exchange Commission rules (which consent may be revoked in writing by the Participant at any time upon three
business days’ notice to the Company, in which case subsequent prospectuses, annual reports and other information will be delivered
in hard copy to the Participant).

 

(p)            Electronic
Participation in Plan. The Company may, in its sole discretion, decide to deliver any documents related to current or future participation
in the Plan by electronic means. The Participant hereby consents to receive such documents by electronic delivery and agrees to participate
in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.

 

[Remainder of page intentionally blank]

 

    7

     

    

 

IN WITNESS WHEREOF, this Restricted Stock Unit
Award Agreement has been executed by the Company and the Participant as of the day first written above.

 

	 	REDBOX ENTERTAINMENT INC.

 

		By:	 

		Name:

		Title:

 

	 	PARTICIPANT

 

	 	 
	 	[Insert Name]

 

[Signature Page to Restricted Stock Unit Award Agreement]

 

     

     

    

 

Exhibit A

 

Restrictive Covenants

 

By accepting the grant of the RSUs hereunder,
in addition to any other representations, warranties, and covenants set forth this Agreement, the Participant agrees to be subject to
and comply with the following covenants.

 

		1.	Confidentiality. The Participant hereby agrees that during the Participant’s employment or
service with the Company or its Subsidiaries, and thereafter, the Participant will not disclose confidential or proprietary information,
or trade secrets, related to any business of the Company or the Subsidiary.

 

		2.	Non-Solicitation. Except as prohibited by law, the Participant further agrees that during the Participant’s
employment or service with the Company or its Subsidiaries, and for the two (2)-year period thereafter, the Participant will not, directly
or indirectly, on the Participant’s own behalf or on behalf of another (i) solicit, recruit, aid or induce any employee of
the Company or any of its Subsidiaries to leave their employment with the Company or its Subsidiaries in order to accept employment with
or render services to another person or entity unaffiliated with the Company or its Subsidiaries, or hire or knowingly take any action
to assist or aid any other person or entity in identifying or hiring any such employee, or (ii) solicit, aid, or induce any customer
of the Company or any of its Subsidiaries to purchase goods or services then sold by the Company or its Subsidiaries from another person
or entity, or assist or aid any other persons or entity in identifying or soliciting any such customer, or (iii) otherwise interfere
with the relationship of the Company or any of its Subsidiaries with any of its employees, customers, agents, or representatives.

 

		3.	The Participant acknowledges and agrees that irreparable injury will result to the Company, and to its
business, in the event of a breach by the Participant of any of the Participant’s covenants and commitments under this Agreement,
including the covenants of confidentiality, non-competition and non-solicitation. The Company reserves all rights to seek any and all
remedies and damages permitted under law, including, but not limited to, injunctive relief, equitable relief and compensatory damages.
The Participant acknowledges and agrees the non-competition and non-solicitation provisions contained in this Agreement are expressly
intended to benefit the Company (which includes all parents, subsidiaries and/or affiliated entities as third party beneficiaries) and
its successors and assigns; and the Participant expressly authorizes the Company (including all third party beneficiaries) and its successors
and assigns to enforce these provisions. In the event of any breach or violation by the Participant of any of the restrictive covenants
in this Exhibit A, the time period of such covenant with respect to the Participant shall, to the fullest extent permitted
by law, be tolled until such breach or violation is resolved.

 

		4.	The covenants in this Exhibit A are severable and separate, and the unenforceability of any
specific covenant shall not affect the provisions of any other covenant. If any provision of this Exhibit A relating to the
time period, scope, or geographic area of the restrictive covenants shall be declared by a court of competent jurisdiction or arbitrator
to exceed the maximum time period, scope, or geographic area, as applicable, that such court or arbitrator deems reasonable and enforceable,
then this Agreement shall automatically be considered to have been amended and revised to reflect such determination.

 

		5.	All of the covenants in this Exhibit A shall be construed as an agreement independent of any
other provisions in Exhibit A, and the existence of any claim or cause of action the Participant may have against the Company
(which includes all parents, subsidiaries and/or affiliated entities as third party beneficiaries), whether predicated on this Exhibit A
or otherwise, shall not constitute a defense to the enforcement by the Company (which includes all parents, subsidiaries and/or affiliated
entities as third party beneficiaries) of such covenants.

 

    A-1 

     

    

 

		6.	The Participant has carefully read and considered the provisions of this Exhibit A and, having
done so, agrees that the restrictive covenants in this Exhibit A impose a fair and reasonable restraint on the Participant
and are reasonably required to protect the interests of the Company (which includes all parents, subsidiaries and/or affiliated entities
as third party beneficiaries) and their respective officers, directors, employees, and equityholders.

 

*     *     *

 

    A-2

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