Document:

Exhibit 10.3(c)

 

NOTICE OF GRANT OF RESTRICTED STOCK UNIT
AWARD

 

MOVING IMAGE TECHNOLOGIES, INC.

2019 OMNIBUS INCENTIVE PLAN

 

FOR GOOD AND VALUABLE CONSIDERATION, Moving iMage Technologies,
Inc. (the “Company”) hereby grants, pursuant to the provisions of the Company’s 2019 Omnibus Incentive Plan (the
 “Plan”), to the Participant designated in this Notice of Grant of Restricted Stock Unit Award (the “Notice”)
the number of shares of the common stock of the Company set forth in the Notice, subject to certain restrictions as outlined below
in this Notice and the additional provisions set forth in the attached Terms and Conditions of Restricted Stock Unit Award (the
 “Agreement”). Also enclosed is a copy of the information statement describing important provisions of the Plan.

 

Participant:    [__________]

 

Grant Date:     [__________]

 

# of Restricted Stock Units:     [________]

 

Purchase Price:Subject to the withholding provisions
of Section 5 of the Terms and Conditions, this Restricted Stock Unit Award does not require the Participant to pay any purchase
price or other cash consideration in connection with this Award, including the issuance or delivery of Common Stock upon vesting
of the Award.

 

Vesting Schedule:Subject to the provisions contained
in Sections 4, 5 and 6 of the Terms and Conditions, this Restricted Stock Unit Award shall vest, and the applicable Restrictions
set forth in the Terms and Conditions shall lapse in accordance with the following schedule, in the event the Participant does
not have a Termination of Service prior to the applicable vesting date:

 

	Date of Vesting	 	Cumulative Amount Vested	 
	[Sample Vesting Schedule]	 	 	 	 
	First Anniversary of Grant Date	 	 	25	%
	Second Anniversary of Grant Date	 	 	50	%
	Third Anniversary of Grant Date	 	 	75	%
	Fourth Anniversary of Grant Date	 	 	100	%]

 

Change in Control: Unless otherwise specified in this Notice,
no accelerated vesting of any Restricted Stock Units shall occur in the event of a Change in Control of the Company (as defined
in and subject to the provisions of the Plan).

 

Forfeiture: The Participant’s rights in the Restricted
Stock Unit Award on which the Restrictions have not lapsed pursuant to the vesting schedule provisions above shall be forfeited
in full in the event of the Participant’s Termination of Service for any reason.

 

By signing below, the Participant agrees that this Restricted Stock
Unit Award is granted under and governed by the terms and conditions of the Company’s 2019 Omnibus Incentive Plan and the
attached Terms and Conditions.

 

	Participant	Moving iMage Technologies, Inc.

 

	 	 	By: 	 
	 	 	 	Title: 	 
	Date: 		 	Date:	

 

    	 		 

     

    

 

TERMS AND CONDITIONS OF RESTRICTED STOCK
UNIT AWARD

 

These Terms and Conditions of Restricted Stock Unit Award relates
to the Notice of Grant of Restricted Stock Unit Award (the “Notice”) attached hereto, by and between Moving iMage Technologies,
Inc. (the “Company”), and the person identified in the Notice (the “Participant”).

 

The Board of Directors of the Company has authorized and approved
the 2019 Omnibus Incentive Plan (the “Plan”), which has been approved by the Company’s stockholders. The Committee
has approved an award to the Participant of a number of shares of the Company’s common stock, conditioned upon the Participant’s
acceptance of the provisions set forth in the Notice and these Terms and Conditions within 60 days after the Notice and these Terms
and Conditions are presented to the Participant for review. For purposes of the Notice and these Terms and Conditions, any reference
to the Company shall include a reference to any Affiliate.

 

1.            Grant of Restricted
Stock Units.

 

(a)       As
of the Grant Date set forth in the Notice of Grant, the Company grants to the Participant the number of Restricted Stock Units
set forth in the Notice of Grant (the “Units”), which represent shares of the Company’s Common Stock. The Units
are subject to the restrictions set forth in Section 2 of this Agreement, these Terms and Conditions, the provisions of the Plan
and the other provisions contained in these Terms and Conditions.

 

(b)       The
Units granted under this Agreement shall be reflected in a bookkeeping account maintained by the Company during the Restricted
Period. If and when the restrictions set forth in Section 2 expire in accordance with the terms of this Agreement, and upon the
satisfaction of all other applicable conditions as to the Units, such Units (and any related Dividend Units described in Section
1(c) below) not forfeited pursuant to Section 4 hereof shall be settled in cash or shares of Common Stock as provided in Section
1(e) of this Agreement and otherwise in accordance with the Plan.

 

(c)        With respect to each Unit, whether or not
vested, that has not been forfeited (but only to the extent such award of Units has not been settled for cash or Common Stock),
the Company shall, with respect to any cash dividends paid on the Common Stock, accrue and credit to the Participant’s bookkeeping
account a number of Units having a Fair Market Value as of the date such dividend is paid equal to the cash dividends that would
have been paid with respect to such Unit if it were an outstanding share of Common Stock (the “Dividend Units”). These
Dividend Units thereafter shall (i) be treated as Units for purposes of future dividend accruals pursuant to this Section 1(c);
and (ii) vest in such amounts (rounded to the nearest whole Unit) at the same time as the Units with respect to which such Dividend
Units were received. Any dividends or distributions on Common Stock paid other than in cash shall accrue in the Participant’s
bookkeeping account and shall vest at the same time as the Units in respect of which they are made (in each case in the same form,
based on the same record date and at the same time, as such dividend or other distribution is paid on such Common Stock).

 

(d)       The
Company’s obligations under this Agreement (with respect to both the Units and the Dividend Units, if any) shall be unfunded
and unsecured, and no special or separate fund shall be established and no other segregation of assets shall be made. The rights
of Participant under this Agreement shall be no greater than those of a general unsecured creditor of the Company. In addition,
the Units shall be subject to such restrictions as the Company may deem advisable under the rules, regulations and other requirements
of the Securities and Exchange Commission, any stock exchange upon which Common Stock is then listed, any Company policy and any
applicable federal or state securities law.

 

    	 	2	 

     

    

 

(e)       Except
as otherwise provided in this Agreement, settlement of the Units in accordance with the provisions of this Section 1(e) shall be
delivered as soon as practicable after the end of the Restricted Period, and upon the satisfaction of all other applicable conditions
as to the Units (including the payment by the Participant of all applicable withholding taxes). The Units so payable to the Participant
shall be paid solely in shares of Common Stock, solely in cash based on the Fair Market Value of the Common Stock (determined as
of the first business day next following the last day of the Restricted Period), or in a combination of the two, as determined
by the Committee in its sole discretion.

 

2.            Restrictions.

 

(a)       The
Participant shall have no rights as a stockholder of the Company by virtue of any Unit unless and until such Unit vests and resulting
shares of Common Stock are issued to the Participant:

 

(b)       None of the Units may be sold, transferred, assigned,
pledged or otherwise encumbered or disposed of during the Restricted Period, except as may be permitted by the Plan or as otherwise
permitted by the Committee in its sole discretion or pursuant to rules adopted by the Committee in accordance with the Plan.

 

(c)       Any
attempt to dispose of the Units or any interest in the Units in a manner contrary to the restrictions set forth in this Agreement
shall be void and of no effect.

 

3.           Restricted Period
and Vesting. The “Restricted Period” is the period beginning on the Grant Date and ending on the date the Units,
or such applicable portion of the Units, are deemed vested under the schedule set forth in the Notice Subject to the provisions
contained in Section 4, 5 and 6, the Units shall be deemed vested and no longer subject to forfeiture under Section 4 upon expiration
of the Restricted Period, and the satisfaction of all other applicable conditions as to the Units (including the payment by the
Participant of all applicable withholding taxes).

 

4.            Forfeiture.

 

Subject to Section 6 hereof, if during
the Restricted Period (i) the Participant incurs a Termination of Service, (ii) there occurs a material breach of the Notice
or these Terms and Conditions by the Participant, or (iii) the Participant fails to meet the tax withholding obligations described
in Section 5(b) hereof, all rights of the Participant to the Units that have not vested in accordance with Section 3 as of the
date of such termination shall terminate immediately and be forfeited in their entirety.

 

5.            Withholding.

 

(a)       The
Committee shall determine the amount of any withholding or other tax required by law to be withheld or paid by the Company with
respect to any income recognized by the Participant with respect to the Units.

 

    	 	3	 

     

    

 

(b)       The
Participant shall be required to meet any applicable tax withholding obligation in accordance with the provisions of the Plan.

 

(c)       Subject
to any rules prescribed by the Committee, the Participant shall have the right to elect to meet any withholding requirement (i)
by having withheld from this Award at the appropriate time that number of whole shares of Common Stock whose Fair Market Value
is equal to the amount of any taxes required to be withheld with respect to such Award, (ii) by direct payment to the Company in
cash of the amount of any taxes required to be withheld with respect to such Award or (iii) by a combination of shares and cash.

 

6.            Committee’s
Discretion. Notwithstanding any provision of this Agreement to the contrary, the Committee shall have discretion under
Section 7.02(b) of the Plan to waive any forfeiture of the Units as set forth in Section 4 hereof, the Restricted Period and any
other conditions set forth in this Agreement.

 

7.            Defined Terms.
Capitalized terms used but not defined in the Notice and Agreement shall have the meanings set forth in the Plan, unless such term
is defined in any Employment Agreement between the Participant and the Company or an Affiliate. Any terms used in the Notice and
Agreement, but defined in the Participant’s Employment Agreement are incorporated herein by reference and shall be effective
for purposes of the Notice and these Terms and Conditions without regard to the continued effectiveness of the Employment Agreement.

 

8.            Nonassignability.
The Units may not be sold, assigned, transferred (other than by will or the laws of descent and distribution, or to an inter
vivos trust with respect to which the Participant is treated as the owner under Sections 671 through 677 of the Code), pledged,
hypothecated, or otherwise encumbered or disposed of until the restrictions on such Units, as set forth in the Notice and Agreement,
have lapsed or been removed.

 

9.            Participant Representations.
The Participant hereby represents to the Company that the Participant has read and fully understands the provisions of the Notice,
these Terms and Conditions and the Plan and the Participant’s decision to participate in the Plan is completely voluntary.
Further, the Participant acknowledges that the Participant is relying solely on his or her own advisors with respect to the tax
consequences of this restricted stock award.

 

10.         Regulatory Restrictions
on the Units. Notwithstanding any other provision of the Plan, the obligation of the Company to issue Common Stock in connection
with this Award under the Plan shall be subject to all applicable laws, rules and regulations and such approval by any regulatory
body as may be required. The Company reserves the right to restrict, in whole or in part, the delivery of Common Stock pursuant
to these Terms and Conditions prior to the satisfaction of all legal requirements relating to the issuance of such shares, to their
registration, qualification or listing or to an exemption from registration, qualification or listing.

 

11.         Miscellaneous.

 

		11.1	Notices. All notices, requests, deliveries, payments, demands and other communications which are required or permitted
to be given under these Terms and Conditions shall be in writing and shall be either delivered personally or sent by registered
or certified mail, or by private courier, return receipt requested, postage prepaid to the parties at their respective addresses
set forth herein, or to such other address as either shall have specified by notice in writing to the other. Notice shall be deemed
duly given hereunder when delivered or mailed as provided herein.

 

    	 	4	 

     

    

 

		11.2	Waiver. The waiver by any party hereto of a breach of any provision of the Notice or these Terms and Conditions shall
not operate or be construed as a waiver of any other or subsequent breach.

 

		11.3	Entire Agreement. These Terms and Conditions, the Notice and the Plan constitute the entire agreement between the parties
with respect to the subject matter hereof.

 

		11.4	Binding Effect; Successors. These Terms and Conditions shall inure to the benefit of and be binding upon the parties
hereto and to the extent not prohibited herein, their respective heirs, successors, assigns and representatives. Nothing in these
Terms and Conditions, express or implied, is intended to confer on any person other than the parties hereto and as provided above,
their respective heirs, successors, assigns and representatives any rights, remedies, obligations or liabilities.

 

		11.5	Governing Law. The Notice and these Terms and Conditions shall be governed by and construed in accordance with the laws
of the State of Delaware.

 

		11.6	Headings. The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way
limit or affect the meaning or interpretation of any of the terms or provisions of these Terms and Conditions.

 

		11.7	Conflicts; Amendment. The provisions of the Plan are incorporated in these Terms and Conditions in their entirety. In
the event of any conflict between the provisions of these Terms and Conditions and the Plan, the provisions of the Plan shall control.
The Agreement may be amended at any time by written agreement of the parties hereto.

 

		11.8	No Right to Continued Employment. Nothing in the Notice or these Terms and Conditions shall confer upon the Participant
any right to continue in the employ or service of the Company or affect the right of the Company to terminate the Participant’s
employment or service at any time.

 

		11.9	Further Assurances. The Participant agrees, upon demand of the Company or the Committee, to do all acts and execute,
deliver and perform all additional documents, instruments and agreements which may be reasonably required by the Company or the
Committee, as the case may be, to implement the provisions and purposes of the Notice and these Terms and Conditions and the Plan.

 

    	 	5Exhibit
10.4

 

CONSULTING
AGREEMENT

 

This Agreement
is made as of July 1, 2018, by and between NLM Holding Co., Inc., having its business office at 2655 First St., Suite 250, Simi
Valley, CA 93065 (the "Company") and Westpark Capital, Inc., with its principal office located at 1900 Avenue
of the Stars, Suite 310 Los Angeles, CA 90067 (the "Consultant").

 

WHEREAS, the Consultant
has been rendering consulting services to the Company on an as requested basis without compensation since the Company’s inception
in July 2017;

 

WHEREAS, Company desires
to compensate Consultant for consulting services performed to date and to formally retain the Consultant on a go forward basis,
and the Consultant desires to be formally retained by the Company, all pursuant to the terms and conditions hereinafter set forth:

 

NOW THEREFORE, in consideration
of the foregoing and the mutual promises and covenants herein contained, it is agreed as follows:

 

1. RETENTION - The
Company hereby formally retains the Consultant to continue to perform non-exclusive consulting services related strategic and other
matters, and the Consultant hereby accepts such retention and shall continue to perform for the Company the duties described herein,
faithfully and to the best its ability. In this regard, subject to paragraph 6 herein, the Consultant shall continue to devote
such time and attention to the business of the Company, as shall be determined by the Consultant, subject to the direction of the
Chief Executive Officer of the Company.

 

a)
The Consultant agrees, to the extent reasonably required in the conduct of the business of the Company, and at the Company's request,
to continue to place at the disposal of the Company its judgment and experience and to provide business development services to
the Company including the following:

 

(i)
Review and advise on prospective mergers and acquisitions and related strategic transactions, and on any financing that may be
required to complete such transactions (bust such services not to include the raising of financing); and

 

(ii)
Advise on the Company's capital structure and on structure and alternatives for raising capital (but such services not to include
the actual raising of capital).

 

2. TERM - The Consultant's
retention on a go forward basis hereunder shall be for a term of twelve months commencing on the date of this Agreement.

 

3. COMPENSATION -
The Consultant shall be compensated in accordance with the following schedule:

 

    	 

     

    

 

(a) The
Company shall pay to the Consultant a one-time fee of $250,000, due within sixty (60) days of the signing of this Agreement. Notwithstanding
the foregoing, if the Company consummates an equity financing of shares of its common or preferred stock (the
 "Stock") in one or a series of closings after the date of this Agreement but on or prior to September 30, 2018
resulting in gross aggregate proceeds to the Company of at least $500,000 (the "Next Financing"), then all amounts
of said the unpaid fee shall automatically converted into fully paid and nonassessable shares of Stock issued in the next
Financing at the price per share paid by the other purchasers of Stock in the Next Financing.

 

(b)
The Company shall pay to the Consultant a monthly fee of $1,000 per month.

 

4. EXPENSES - The Company
agrees to reimburse the Consultant for reasonable expenses incurred by the Consultant in connection with the services rendered
hereunder, including but not limited to the Consultant's due diligence activities with respect to the Company. Any such expenses
shall require the prior written approval of the Company.

 

5. STATUS OF CONSULTANT
- The Consultant shall be deemed to be an independent contractor and, except as expressly provided or authorized in this Agreement,
shall have no authority to act for or represent the Company.

 

6. OTHER ACTIVITIES
OF CONSULTANT - The Company recognizes that the Consultant now renders and may continue to render financial consulting and other
investment banking services to other companies, which may or may not conduct business and activities similar to those of the Company.
The Consultant shall not be required to devote its full time and attention to the performance of its duties under this Agreement,
but shall devote only so much of its time and attention as it deems reasonable or necessary for such purposes. The Consultant agrees
to maintain as confidential any information it procures in rendering consulting services hereunder regarding the Company that is
not generally known to the public.

 

7. NOTICES - Any notices
hereunder shall be sent to the Company and the Consultant at their respective addresses above set forth. Any notice shall be given
by registered or certified mail, postage prepaid, or overnight receipted delivery service (such as Federal Express) and shall be
deemed to have been given when deposited in the United States mail. Either party may designate any other address to which notice
shall be given, by giving written notice to the other of such change in address in the manner herein provided.

 

8. GOVERNING LAW -
This Agreement has been made in the State of California and shall be construed and governed in accordance with the laws thereof
without regard to conflicts of laws.

 

9. ENTIRE AGREEMENT
- This Agreement contains the entire agreement between the parties, may not be altered or modified, except in writing and signed
by the party to be charged thereby and supersedes any and all previous agreements between the parties.

 

10. BINDING
EFFECT - This Agreement shall be binding upon the parties hereto and their respective heirs, administrators, successors, and
assigns.

 

    	 

     

    

 

11. TERMINATION -
Either party may terminate this Agreement for cause, in writing. If the Agreement is terminated, the Consultant keeps all cash
paid to date.

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement the day and year first above written.

 

	NLM HOLDING CO., INC.	 	WESTPARK CAPITAL, INC.
	 	 	 
	/s/  David H. Clarke	 	/s/ R. Rappaport
	David H. Clarke	 	Richard Rappaport
	Chief Executive Officer	 	Chief Executive Officer

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