Document:

Exhibiit
10.10

 

DRAFTKINGS
INC. 

 

STOCK
OPTION GRANT NOTICE

(2020 Incentive Award Plan)

 

DraftKings
Inc., a Nevada corporation (the “Company”), pursuant to its 2020 Incentive Award Plan, as
may be amended from time to time (the “Plan”), hereby grants to Optionholder an option to purchase the
number of Common Shares set forth below. This option is subject to all of the terms and conditions as set forth in this notice,
in the corresponding Option Agreement, the Plan and the Notice of Exercise, all of which are attached hereto and incorporated herein
in their entirety. Capitalized terms not explicitly defined herein but defined in the Plan or the corresponding Option Agreement
will have the same definitions as in the Plan or the corresponding Option Agreement. If there is any conflict between the terms
in this notice, Exhibit A to this notice, the corresponding Option Agreement, the Plan and the Notice of Exercise, then such conflict
or inconsistency shall be resolved by giving such documents precedence in the following order: Exhibit A, this notice, the corresponding
Option Agreement, the Plan and then the Notice of Exercise.

 

	Optionholder	###PARTICIPANT_NAME###
	Date of Grant:	###GRANT_DATE###
	Vesting Commencement Date:	
        ###ALTERNATIVE_VEST_BASE_DATE###

	Number of Shares Subject to Option:	
        ###TOTAL_AWARDS###

	Exercise Price (Per Common Share):	
        ###GRANT_PRICE###

	Total Exercise Price:	
        ###TOTAL_EXERCISE_PRICE###

	Expiration Date:	
        ###EXPIRY_DATE###

 

	Type of Grant:	[Incentive Stock Option][Nonstatutory Stock Option]
	 	 
	Exercise Schedule:	[Same as Vesting Schedule]
	 	 
	Vesting Schedule:	This award shall vest pursuant to the schedule set forth in Exhibit A, which is attached hereto and incorporated herein in its entirety.
	 	 
	Payment:	By one or a combination of the following items (described in the corresponding Option Agreement):

 

		 ̈	By cash, check, bank draft or money order payable to
the Company

		 ̈	Pursuant to a Regulation T Program if the shares are
publicly traded

		 ̈	By delivery of already-owned shares if the shares are
publicly traded

		 ̈	Subject to the Company’s consent at the time of
exercise, by a “net exercise” arrangement

 

Additional Terms/Acknowledgements:
Optionholder acknowledges receipt of, and understands and agrees to, this Stock Option Grant Notice, the corresponding Option Agreement,
the Plan and the Notice of Exercise. Optionholder acknowledges and agrees that this Stock Option Grant Notice, the corresponding
Option Agreement and the Notice of Exercise may not be modified, amended or revised except as provided in the Plan. Optionholder
further acknowledges that as of the Date of Grant, this Stock Option Grant Notice, the corresponding Option Agreement, the Plan
and the Notice of Exercise set forth the entire understanding between Optionholder and the Company regarding this option award
and supersede all prior oral and written agreements, promises and/or representations on that subject with the exception of the
following agreements only.

 

     

     

    

 

	Other Agreements:	 
	 	 
	 	 

 

By accepting this option, you consent to
receive such documents by electronic delivery and to participate in the Plan through an on-line or electronic system established
and maintained by the Company or another third party designated by the Company.

 

	DraftKings Inc.	 	Optionholder:
	 	 	 	 	 
	
        

        By:
	
        /s/ Jason Robins
	 	 	 
	 	Jason Robins	 	 	Signature
	 	 	 	 	 
	Title: 	Chief Executive Officer		Date:	 

 

Attachments:
Option Agreement, 2020 Incentive Award Plan, Notice of Exercise

 

    	 	2	 

     

    

 

EXHIBIT
A

 

VESTING
SCHEDULE

 

 

 

 

 

 

 

 

 

    	 

     

    

 

 

ATTACHMENT
I

 

OPTION
AGREEMENT

 

 

 

 

 

 

 

 

 

 

    	 

     

    

 

DRAFTKINGS
INC.

 

2020
Incentive Award Plan

OPTION AGREEMENT

(INCENTIVE STOCK OPTION OR NONSTATUTORY STOCK OPTION)

 

Pursuant to your Stock
Option Grant Notice (“Grant Notice”) and this Option Agreement (this “Agreement”),
DraftKings Inc., a Nevada corporation (the “Company”) has granted you an option under its 2020 Incentive
Award Plan (the “Plan”) to purchase the number of Common Shares indicated in your Grant Notice at the
exercise price indicated in your Grant Notice. The option is granted to you effective as of the date of grant set forth in the
Grant Notice (the “Date of Grant”). If there is any conflict between the terms in the Grant Notice, Exhibit
A to the Grant Notice, this Option Agreement, the Plan and the Notice of Exercise, then such conflict shall be resolved by giving
such documents precedence in the following order: Exhibit A, the Grant Notice, this Restricted Stock Unit Agreement, the Plan and
then the Notice of Exercise. Capitalized terms not explicitly defined in this Option Agreement or in the Grant Notice but defined
in the Plan will have the same definitions as in the Plan.

 

The details of your
option, in addition to those set forth in the Grant Notice and the Plan, are as follows:

 

1.                  
Vesting; No Shareholder Rights.
Your option will vest as provided in your Grant Notice. Vesting will cease upon the termination of your service with the Company
except as may be provided otherwise in the Vesting Schedule in Exhibit A to your Grant Notice or in an employment or other agreement
between you and the Company. You will not be deemed to be the holder of, or have any of the rights of a stockholder with respect
to your option unless and until the option vests and you exercise the option in accordance with this Option Agreement and the Company
has issued and delivered Common Shares to you and your name shall have been entered as a stockholder of record on the books of
the Company.

 

2.                  
Number of Shares and Exercise Price.
The number of Common Shares subject to your option and your exercise price per share are set forth in your Grant Notice and will
be adjusted in the event of changes in capital structure and similar events as provided in Section 12 of the Plan.

 

3.                  
Exercise Restriction for Non-Exempt Employees.
If you are an employee eligible for overtime compensation under the Fair Labor Standards Act of 1938, as amended (that is, a “Non-Exempt
Employee”), and except as provided below, you may not exercise your option until you have completed at least six
months of service measured from the Date of Grant, even if you have already been an employee of the Company for more than six months.
Consistent with the provisions of the Worker Economic Opportunity Act, you may exercise your option as to any vested portion prior
to such six month anniversary in the case of (i) your death or disability, (ii) a Change in Control or (iii) your termination of
service on your “retirement” (as defined in the Company’s benefit plans).

 

4.                  
Method of Payment. You must
pay the full amount of the exercise price for the shares you wish to exercise. You may pay the exercise price in cash or by check,
bank draft or money order payable to the Company or in any other manner permitted by your Grant Notice, which may
include one or more of the following:

 

(a)               
Provided that at the time of exercise the Common Shares are publicly traded, pursuant to a program developed under Regulation
T as promulgated by the Federal Reserve Board that, prior to the issuance of Common Shares, results in either the receipt of cash
(or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the
sales proceeds. This manner of payment is also known as a “cashless exercise”, “broker-assisted exercise”,
 “same day sale”, or “sell to cover”.

 

    	 	 	 

     

    

 

(b)              
Provided that at the time of exercise the Common Shares are publicly traded, by delivery to the Company (either by actual
delivery or attestation) of already-owned Common Shares that are owned free and clear of any liens, claims, encumbrances or security
interests, and that are valued at Fair Market Value on the date of exercise. “Delivery” for these purposes, in the
sole discretion of the Company at the time you exercise your option, will include delivery to the Company of your attestation of
ownership of such Common Shares in a form approved by the Company. You may not exercise your option by delivery to the Company
of Common Shares if doing so would violate the provisions of any law, regulation or agreement restricting the redemption of the
Company’s stock.

 

(c)               
Subject to the consent of the Company at the time of exercise, by a “net exercise” arrangement pursuant
to which the Company will reduce the number of Common Shares issued upon exercise of your option by the largest whole number of
shares with a Fair Market Value that does not exceed the aggregate exercise price. You must pay any remaining balance of the aggregate
exercise price not satisfied by the “net exercise” in cash or other permitted form of payment. Common Shares will
no longer be outstanding under your option and will not be exercisable thereafter if those shares (i) are used to pay the exercise
price pursuant to the “net exercise,” (ii) are delivered to you as a result of such exercise, and (iii) are withheld
to satisfy your tax withholding obligations.

 

5.                  
Whole Shares. You may exercise
your option only for whole Common Shares.

 

6.                  
Securities Law Compliance.
In no event may you exercise your option unless the Common Shares issuable upon exercise are then registered under the Securities
Act or, if not registered, the Company has determined that your exercise and the issuance of the shares would be exempt from the
registration requirements of the Securities Act. The exercise of your option also must comply with all other applicable laws and
regulations governing your option, and you may not exercise your option if the Company determines that such exercise would not
be in material compliance with such laws and regulations.

 

7.                  
Term. You may not exercise
your option before the Date of Grant or after the expiration of the option’s term. Except as may be provided otherwise in
the Vesting Schedule in Exhibit A to your Grant Notice or in an employment or other agreement between you and the Company, the
term of your option expires (subject to the provisions of Section 7(c) of the Plan in the event that your Option is an Incentive
Stock Option and you, on the Date of Grant, own shares representing more than 10% of the combined voting power of the Company)
upon the earliest of the following:

 

(a)               
immediately upon the termination of your service with the Company for Cause;

 

(b)              
three months after the termination of your service with the Company for any reason other than Cause, your Disability
(as defined below) or your death (except as otherwise provided in Section 7(d) below); provided, however, that if during
any part of such three month period your option is not exercisable solely because of the condition set forth in the section above
relating to “Securities Law Compliance,” your option will not expire until the earlier of the Expiration Date or until
it has been exercisable for an aggregate period of three months after the termination of your service with the Company; provided
further, that if (i) you are a Non-Exempt Employee, (ii) your service with the Company terminates within six months after the
Date of Grant, and (iii) you have vested in a portion of your option at the time of your termination of your service with the Company,
your option will not expire until the earlier of (x) the later of (A) the date that is seven months after the Date of Grant, and
(B) the date that is three months after the termination of your service with the Company, and (y) the Expiration Date;

 

    	 	2	 

     

    

 

(c)               
12 months after the termination of your service with the Company due to your Disability (except as otherwise provided
in Section 7(d)) below. For purposes of this Option Agreement, “Disability” means your inability to engage
in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected
to result in death or that has lasted or can be expected to last for a continuous period of not less than 12 months as provided
in Sections 22(e)(3) and 409A(a)(2)(c)(i) of the Code, and will be determined by the Committee on the basis of such medical evidence
as the Committee deems warranted under the circumstances.;

 

(d)              
12 months after your death if you die either during your service with the Company or within three months after your
service with the Company terminates for any reason other than Cause;

 

(e)               
the Expiration Date indicated in your Grant Notice; or

 

(f)                
the day before the 10th anniversary of the Date of Grant.

 

If your option is an
Incentive Stock Option, note that to obtain the federal income tax advantages associated with an Incentive Stock Option, the Code
requires that at all times beginning on the Date of Grant and ending on the day three months before the date of your option’s
exercise, you must be an employee of the Company or an Affiliate, except in the event of your death or Disability. The Company
has provided for extended exercisability of your option under certain circumstances for your benefit but cannot guarantee that
your option will necessarily be treated as an Incentive Stock Option if you continue to provide services to the Company or an Affiliate
as a consultant or director after your employment terminates or if you otherwise exercise your option more than three months after
the date your employment with the Company or an Affiliate terminates.

 

8.                  
Exercise.

 

(a)               
You may exercise the vested portion of your option during its term by (i) delivering a Notice of Exercise (in a form
designated by the Company) or completing such other documents and/or procedures designated by the Company for exercise and (ii)
paying the exercise price and any applicable withholding taxes to the Company’s Secretary, stock plan administrator, or such
other person as the Company may designate, together with such additional documents as the Company may then require.

 

(b)              
By exercising your option you agree that, as a condition to any exercise of your option, the Company may require you
and you hereby agree to enter into an arrangement providing for the payment by you to the Company of any tax withholding obligation
of the Company arising by reason of (i) the exercise of your option, or (ii) the disposition of Common Shares acquired upon such
exercise.

 

(c)               
If your option is an Incentive Stock Option, by exercising your option you agree that you will notify the Company in
writing within 15 days after the date of any disposition of any of the shares of the Common Shares issued upon exercise of your
option that occurs within two years after the Date of Grant or within one year after such Common Shares are transferred upon exercise
of your option.

 

9.                   TRANSFERABILITY.
Except as otherwise provided in this Section 9, your option is not assignable or transferable, except by will or by the laws of
descent and distribution, and is exercisable during your life only by you. Without limiting the generality of the foregoing, your
option may not be sold, assigned, transferred or otherwise disposed of, or pledged or hypothecated in any manner (whether by operation
of law or otherwise), and shall not be subject to execution, attachment or other process. Any assignment, transfer, sale, pledge,
hypothecation or other disposition of your option or any attempt to make any such levy of execution, attachment or other process
will cause your option to terminate immediately, unless the Chief Legal Officer of the Company, in his sole discretion, specifically
waives applicability of this provision.

 

    	 	3	 

     

    

 

(a)               Certain
Trusts. Upon receiving written permission from the Chief Legal Officer of the Company, you may transfer your option to a trust
if you are considered to be the sole beneficial owner (determined under Section 671 of the Code and applicable state law) while
the option is held in the trust. You and the trustee must enter into transfer and other agreements required by the Company.

 

(b)               Domestic
Relations Orders. Upon receiving written permission from the Chief Legal Officer of the Company, and provided that you and the
designated transferee enter into transfer and other agreements required by the Company, you may transfer your option pursuant
to the terms of a domestic relations order, official marital settlement agreement or other divorce or separation instrument as
permitted by Treasury Regulation 1.421-1(b)(2) that contains the information required by the Company to effectuate the transfer.
You are encouraged to discuss the proposed terms of any division of this option with the Company prior to finalizing the domestic
relations order or marital settlement agreement to help ensure the required information is contained within the domestic relations
order or marital settlement agreement. If this option is an Incentive Stock Option, this option may be deemed to be a Nonstatutory
Stock Option as a result of such transfer.

 

(c)               Beneficiary
Designation. Upon receiving written permission from the Chief Legal Officer of the Company, you may, by delivering written notice
to the Company, in a form approved by the Company and any broker designated by the Company to handle option exercises, designate
a third party who, on your death, will thereafter be entitled to exercise this option and receive the Common Shares or other consideration
resulting from such exercise. In the absence of such a designation, your executor or administrator of your estate will be entitled
to exercise this option and receive, on behalf of your estate, the Common Shares or other consideration resulting from such exercise.

 

10.              
Option not a Service Contract.
Your option is not an employment or service contract, and nothing in your option will be deemed to create in any way whatsoever
any obligation on your part to continue in the employ or service of the Company or an Affiliate, or of the Company or an Affiliate
to continue your employment or service. In addition, nothing in your option will obligate the Company or an Affiliate, their respective
stockholders, boards of directors, officers or employees to continue any relationship that you might have as a member of the Company’s
Board or a consultant for the Company or an Affiliate.

 

11.              
Withholding Obligations.

 

(a)               
At the time you exercise your option, in whole or in part, and at any time thereafter as requested by the Company, you
hereby agree to make adequate provision for (including by means of a “same day sale” pursuant to a program developed
under Regulation T as promulgated by the Federal Reserve Board to the extent permitted by the Company), any sums required to satisfy
the federal, state, local and foreign tax withholding obligations of the Company or an Affiliate, if any, which arise in connection
with the exercise of your option.

 

(b)              
In the event that you fail to make the adequate provisions contemplated by Section 11(a) above, then subject to compliance
with any applicable legal conditions or restrictions, the Company shall have the option in its discretion (but not the obligation)
to withhold from fully vested Common Shares otherwise issuable to you upon the exercise of your option a number of whole Common
Shares having a Fair Market Value, determined by the Company as of the date of exercise, not in excess of the amount of tax required
to be withheld by law (or such lower amount as may be necessary to avoid classification of your option as a liability for financial
accounting purposes).

 

    	 	4	 

     

    

 

(c)               
The Company assumes no responsibility for individual income taxes, penalties or interest related to grant or exercise
of any option. Neither the Company nor any affiliate makes any representation or undertaking regarding the treatment of any tax
withholding in connection with the grant or exercise of any option. You should consult with your personal tax advisor regarding
the tax ramifications, if any, which result from receipt of the option, the subsequent issuance, if any, of Common Shares on exercise
of the option, and subsequent disposition of any such Common Shares. You acknowledge that the Company may be required to withhold
federal, state and/or local taxes in connection with the exercise of the option. You may not exercise your option unless the
tax withholding obligations of the Company and/or any Affiliate are satisfied. Accordingly, you may not be able to exercise
your option when desired even though your option is vested, and the Company will have no obligation to issue a certificate for
such Common Shares or release such Common Shares from any escrow provided for herein, if applicable, unless such obligations are
satisfied.

 

12.              
Section 409A; Tax Consequences. It is the Company’s intent that
this option be exempt from Section 409A of the Internal Revenue Code to the extent applicable, and that this Option Agreement be
administered accordingly. You hereby agree that the Company does not have a duty to design or administer the Plan or its other
compensation programs in a manner that minimizes your tax liabilities. You will not make any claim against the Company, or any
of its officers, directors, employees or Affiliates related to tax liabilities arising from your option or your other compensation.

 

13.              
Notices. Any notices provided
for in your option or the Plan will be given in writing and will be deemed effectively given upon receipt. The Company may, in
its sole discretion, decide to deliver any documents related to participation in the Plan and this option by electronic means or
to request your consent to participate in the Plan by electronic means. By accepting this option, you consent to receive such documents
by electronic delivery and to participate in the Plan through an on-line or electronic system established and maintained by the
Company or another third party designated by the Company.

 

14.              
Agreement Summaries. In the event that the Company provides you (or anyone
acting on your behalf) with summary or other information concerning, including or otherwise relating to your rights or benefits
under this Agreement (including, without limitation, the option and any exercise thereof), such summary or other information shall
in all cases be qualified in its entirety by Exhibit A, the Grant Notice, this Option Agreement, the Plan and the Notice
of Exercise and, unless it explicitly states otherwise and is signed by an officer of the Company, shall not constitute an amendment
or other modification hereto.

 

15.              
Acknowledgements. You understand, acknowledge, agree and hereby stipulate
that: (1) you are executing this Agreement voluntarily and without any duress or undue influence by the Company or anyone else;
(2) the option is intended to be consideration in exchange for the promises and covenants set forth in this Agreement; (3) you
have carefully read, considered and understand all of the provisions of this Agreement and the Company’s policies reflected
in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged; (4)
you have asked any questions needed for you to understand the terms, consequences and binding effect of this Agreement and you
fully understand them; (5) you were provided an opportunity to seek the advice of an attorney and/or a tax professional of your
choice before accepting this option and (6) the obligations and restrictions set forth in this Agreement are fair and reasonable.

 

    	 	5	 

     

    

 

ATTACHMENT
II

 

2020 Incentive
Award Plan

 

 

 

 

 

 

 

 

 

 

    	 

     

    

 

 

ATTACHMENT
III

 

Form of
Notice of Exercise

 

 

 

 

 

 

 

 

 

 

    	 

     

    

 

DraftKings
Inc.

 

NOTICE OF
EXERCISE

 

DraftKings Inc.

222 Berkeley Street, 5th Floor

Boston, MA 02116

 

Date of Exercise: _____________, 20__

 

[Option Holder]

 

This constitutes notice
under my stock option that I elect to purchase the number of shares for the price set forth below.

 

	Type of option (check one):	Incentive   ̈	Nonstatutory   ̈
	Stock option dated:	 	 
	Number of shares as

to which option is

exercised:	 	 
	Shares to be

issued in name of:	 	 
	Total exercise price:	 	 
	Cash payment delivered

herewith:	 	 
	Non-cash payment delivered

herewith:		 

 

 

 

By this exercise, I
agree (i) to provide such additional documents as you may require pursuant to the terms of the 2020 Equity Incentive Plan
(the “Plan”), (ii) to provide for the payment by me to you (in the manner designated by you) of
your withholding obligation, if any, relating to the exercise of this option, and (iii) if this exercise relates to an incentive
stock option, to notify you in writing within fifteen (15) days after the date of any disposition of any of the shares of
Class A Common Stock issued upon exercise of this option that occurs within two (2) years after the date of grant of this
option or within one (1) year after such shares of Class A Common Stock are issued upon exercise of this option.

 

 

	 	Very truly yours.
	 	 	 
	 	 	 
		Address:Exhibit 10.11

 

DRAFTKINGS
INC. 

 

[PERFORMANCE]
RESTRICTED STOCK UNIT GRANT NOTICE

(2020 INCENTIVE AWARD PLAN)

 

DraftKings
Inc., a Nevada corporation (the “Company”), pursuant to its 2020 Incentive Award Plan, as
may be amended from time to time (the “Plan”), hereby grants to Participant the number of restricted
stock units (“RSUs”) set forth below, each of which represents the right to receive one Common Share1
without any payment for such shares. This award is subject to all of the terms and conditions as set forth in this notice, in the
corresponding Restricted Stock Unit Agreement and the Plan, which are attached hereto and incorporated herein in their entirety.
Capitalized terms not explicitly defined herein but defined in the Plan or the Restricted Stock Unit Agreement will have the same
definitions as in the Plan or the Restricted Stock Unit Agreement. If there is any conflict between the terms in this notice, Exhibit
A to this notice, the corresponding Restricted Stock Unit Agreement and the Plan, then such conflict or inconsistency shall
be resolved by giving such documents precedence in the following order: Exhibit A, this notice, the corresponding Restricted
Stock Unit Agreement then the Plan.

 

	Participant	###PARTICIPANT_NAME###
	Date of Grant:	###GRANT_DATE###
	Vesting Commencement Date:	
        ###ALTERNATIVE_VEST_BASE_DATE###

	Number of RSUs:	
        ###TOTAL_AWARDS###

	[Expiration Date]	
        [###EXPIRY_DATE###]

 

	Type of Grant:	[Performance] Restricted Stock Units
	 	 
	Vesting Schedule:	This award shall vest pursuant to the schedule set forth in Exhibit A, which is attached hereto and incorporated herein in its entirety.

 

Additional Terms/Acknowledgements:
Participant acknowledges receipt of, and understands and agrees to, this [Performance] Restricted Stock Unit Grant Notice, the
corresponding Restricted Stock Unit Agreement and the Plan. Participant acknowledges and agrees that this [Performance] Restricted
Stock Unit Grant Notice and the corresponding Restricted Stock Unit Agreement may not be modified, amended or revised except as
provided in the Plan. Participant further acknowledges that as of the Date of Grant, this [Performance] Restricted Stock Unit Grant
Notice, the corresponding Restricted Stock Unit Agreement, and the Plan set forth the entire understanding between Participant
and the Company regarding this RSU award and supersede all prior oral and written agreements, promises and/or representations on
that subject with the exception of the following agreements only.

 

 

 

1
References to “Common Share” to be replaced with “shares of Class B Common Stock” if applicable.

 

     

     

    

 

	Other Agreements:	 
	 	 
	 	 

 

 

By accepting these RSUs, you consent to
receive such documents by electronic delivery and to participate in the Plan through an on-line or electronic system established
and maintained by the Company or another third party designated by the Company.

 

	DraftKings Inc.	 	participant:
	 	 	 	 	 
	
        

        By:
	
        /s/ Jason Robins
	 	 	 
	 	Jason Robins	 	 	Signature
	 	 	 	 	 
	Title: 	Chief Executive Officer			 

 

Attachments:
Restricted Stock Unit Agreement, 2020 Incentive Award Plan

 

    	 	2	 

     

    

 

EXHIBIT
A

 

VESTING
SCHEDULE

 

 

 

 

 

 

 

 

 

    	 	3	 

     

    

 

ATTACHMENT
I

 

RESTRICTED
STOCK UNIT AGREEMENT

 

 

 

 

 

 

 

 

 

 

    	 	4	 

     

    

 

DRAFTKINGS
INC.

 

2020
INCENTIVE AWARD PLAN

RESTRICTED STOCK UNIT AGREEMENT

 

Pursuant to your [Performance]
Restricted Stock Unit Grant Notice (“Grant Notice”) and this Restricted Stock Unit Agreement (this “Agreement”),
DraftKings Inc., a Nevada corporation (the “Company”) has granted you the number of RSUs under its 2020
Incentive Award Plan (the “Plan”) indicated in your Grant Notice, each of which represents the right
to receive one Common Share. The RSUs are granted to you effective as of the date of grant set forth in the Grant Notice (the “Date
of Grant”). If there is any conflict between the terms in the Grant Notice, Exhibit A to the Grant Notice,
this Restricted Stock Unit Agreement and the Plan, then such conflict shall be resolved by giving such documents precedence in
the following order: Exhibit A, the Grant Notice, this Restricted Stock Unit Agreement then the Plan. Capitalized terms
not explicitly defined in this Restricted Stock Unit Agreement or in the Grant Notice but defined in the Plan will have the same
definitions as in the Plan.

 

The details of the
RSUs, in addition to those set forth in the Grant Notice and the Plan, are as follows:

 

1.                  
Vesting; No Shareholder Rights.
The RSUs will vest as provided in your Grant Notice. Vesting will cease upon the termination of your service with the Company except
as may be provided otherwise in the Vesting Schedule in Exhibit A to your Grant Notice or in an employment or other agreement
between you and the Company. You will not be deemed to be the holder of, or have any of the rights of a stockholder with respect
to any RSUs unless and until they have vested and the Company has issued and delivered Common Shares to you and your name shall
have been entered as a stockholder of record on the books of the Company.

 

2.                  
Number of RSUs. The number
of RSUs are set forth in your Grant Notice and will be adjusted in the event of changes in capital structure and similar events
as provided in Section 12 of the Plan.

 

3.                  
Settlement. Subject to Section
8, each RSU will be settled by delivery to you of one Common Share [###SETTLEMENT DATE###]. The Company may, in its sole discretion,
deliver cash in lieu of all or any portion of the Common Shares otherwise deliverable in respect of the RSUs in an amount equal
to such number of Common Shares multiplied by the Fair Market Value of a Common Share on the date when such shares would otherwise
have been issued, as determined by the Committee.

 

4.                  
Securities Law Compliance.
In no event shall the Company deliver Common Shares upon vesting of the RSUs unless such shares are then registered under the Securities
Act or, if not registered, the Company has determined that the issuance of the shares would be exempt from the registration requirements
of the Securities Act. The issuance of Common Shares is also subject to compliance with all other applicable laws and regulations.

 

5.                  
Other Terms.

 

(a)               
In considering the acceptance of this award of RSUs, you understand, acknowledge, agree and hereby stipulate that you
should use the same independent investment judgment that you would use in making other investments in corporate securities. Among
other things, stock prices will fluctuate over any reasonable period of time and the price of Common Shares may go down as well
as up. No guarantees are made as to the future prospects of the Company or the Common Shares. No representations are made by the
Company.

 

    	 	 	 

     

    

 

(b)              
Notwithstanding anything to the contrary in this Agreement, the Common Shares issued under this Agreement, any other
restricted stock unit agreement or any stock option agreement, and all amounts that may be received by you in connection with any
disposition of any such Common Shares shall be subject to applicable recoupment, “clawback” and similar provisions
under law, as well as any recoupment, “clawback” and similar policies of the Company that may be adopted at any time
and from time to time in order to comply with the Dodd-Frank Wall Street Reform and Consumer Protection Act or other applicable
law

 

6.                   TRANSFERABILITY.
Except as otherwise provided in this Section 6 or in the Plan, the RSUs are not assignable or transferable, except by will or
by the laws of descent and distribution. Without limiting the generality of the foregoing, the RSUs may not be sold, assigned,
transferred or otherwise disposed of, or pledged or hypothecated in any manner (whether by operation of law or otherwise), and
shall not be subject to execution, attachment or other process. Any assignment, transfer, sale, pledge, hypothecation or other
disposition of the RSUs or any attempt to make any such levy of execution, attachment or other process will cause the RSUs to
terminate immediately, unless the Chief Legal Officer of the Company, in his sole discretion, specifically waives applicability
of this provision.

 

(a)               Certain
Trusts. Upon receiving written permission from the Chief Legal Officer of the Company, you may transfer the RSUs to a trust
if you are considered to be the sole beneficial owner (determined under Section 671 of the Code and applicable state law) while
the RSUs are held in the trust. You and the trustee must enter into transfer and other agreements required by the Company.

 

(b)              Domestic
Relations Orders. Upon receiving written permission from the Chief Legal Officer of the Company, and provided that you and
the designated transferee enter into transfer and other agreements required by the Company, you may transfer the RSUs pursuant
to the terms of a domestic relations order, official marital settlement agreement or other divorce or separation instrument that
contains the information required by the Company to effectuate the transfer. You are encouraged to discuss the proposed terms
of any division of these RSUs with the Company prior to finalizing the domestic relations order or marital settlement agreement
to help ensure the required information is contained within the domestic relations order or marital settlement agreement.

 

(c)               Beneficiary
Designation. Upon receiving written permission from the Chief Legal Officer of the Company, you may, by delivering written
notice to the Company, in a form approved by the Company and any broker designated by the Company to administer its equity program,
designate a third party who, on your death, will thereafter be entitled to receive the Common Shares or other consideration in
settlement of the vested RSUs. In the absence of such a designation, your executor or administrator of your estate will be entitled
to receive, on behalf of your estate, the Common Shares or other consideration in settlement of the vested RSUs.

 

7.                  
RSUs not a Service Contract.
The RSUs are not an employment or service contract, and nothing in the RSUs will be deemed to create in any way whatsoever any
obligation on your part to continue in the employ or service of the Company or an Affiliate, or of the Company or an Affiliate
to continue your employment or service. In addition, nothing in the RSUs will obligate the Company or an Affiliate, their respective
stockholders, boards of directors, officers or employees to continue any relationship that you might have as a member of the Company’s
Board or a consultant for the Company or an Affiliate.

 

    	 	2	 

     

    

 

8.                  
Withholding Obligations.

 

(a)               
At the time the RSUs vest, in whole or in part, and at any time thereafter as requested by the Company, you hereby agree
to make adequate provision for (including by means of a “same day sale” pursuant to a program developed under Regulation
T as promulgated by the Federal Reserve Board to the extent permitted by the Company), any sums required to satisfy the federal,
state, local and foreign tax withholding obligations of the Company or an Affiliate, if any, which arise in connection with the
vesting and settlement of the RSUs.

 

(b)              
In the event that you fail to make the adequate provisions contemplated by Section 8(a) above, then, subject to compliance
with any applicable legal conditions or restrictions, the Company shall have the option in its sole discretion (but not the obligation)
to withhold from fully vested Common Shares otherwise issuable to you upon the settlement of the RSUs a number of whole Common
Shares having a Fair Market Value, determined by the Company as of the date of vesting or settlement as applicable, not in excess
of the amount of tax required to be withheld by law (or such lower amount as may be necessary to avoid classification of the RSUs
as a liability for financial accounting purposes).

 

(c)               
The Company assumes no responsibility for individual income taxes, penalties or interest related to grant, vesting or
settlement of any RSU. Neither the Company nor any affiliate makes any representation or undertaking regarding the treatment of
any tax withholding in connection with the grant, vesting or settlement of the RSUs. You should consult with your personal tax
advisor regarding the tax ramifications, if any, which result from receipt of the RSUs, the subsequent issuance, if any, of Common
Shares on settlement of the RSUs, and subsequent disposition of any such Common Shares. You acknowledge that the Company may
be required to withhold federal, state and/or local taxes in connection with the vesting and/or settlement of the RSUs. No RSUs
will vest or be settled unless and until you have made the adequate provisions contemplated by Section 8(a) or the Company has
exercised its option to withhold the necessary amount of Common Shares pursuant to Section 8(b) above. The Company will have
no obligation to issue a certificate for Common Shares in respect of the RSUs unless the obligations set forth in this Section
8 are satisfied.

 

9.                  
Section 409A; Tax Consequences. It is the Company’s intent that
payments under this Restricted Stock Unit Agreement and Grant Notice shall be [exempt from] Section 409A of the Internal Revenue
Code (“Section 409A”) to the extent applicable, and that this Restricted Stock Unit Agreement be administered
accordingly. Notwithstanding anything to the contrary contained in this Restricted Stock Unit Agreement, Grant Notice or any employment
agreement you have entered into with the Company, to the extent that any payment or benefit under this Restricted Stock Unit Agreement
is determined by the Company to constitute “non-qualified deferred compensation” subject to Section 409A and is payable
to you by reason of termination of your employment, then (a) such payment or benefit shall be made or provided to you only upon
a “separation from service” as defined for purposes of Section 409A under applicable regulations and (b) if you are
a “specified employee” (within the meaning of Section 409A and as determined by the Company), such payment or benefit
shall not be made or provided before the date that is six months after the date of your separation from service (or your earlier
death). Each payment under this Restricted Stock Unit Agreement shall be treated as a separate payment under Section 409A. You
hereby agree that the Company does not have a duty to design or administer the Plan or its other compensation programs in a manner
that minimizes your tax liabilities. You will not make any claim against the Company, or any of its officers, directors, employees
or Affiliates related to tax liabilities arising from the RSUs or your other compensation.

 

    	 	3	 

     

    

 

10.              
Notices. Any notices provided
for in the Restricted Stock Unit Agreement or the Plan will be given in writing and will be deemed effectively given upon receipt.
The Company may, in its sole discretion, decide to deliver any documents related to participation in the Plan and these RSUs by
electronic means or to request your consent to participate in the Plan by electronic means. By accepting these RSUs, you consent
to receive such documents by electronic delivery and to participate in the Plan through an on-line or electronic system established
and maintained by the Company or another third party designated by the Company.

 

11.              
Agreement Summaries. In the event that the Company provides you (or anyone
acting on your behalf) with summary or other information concerning, including or otherwise relating to your rights or benefits
under this Agreement (including, without limitation, the RSUs and any vesting thereof), such summary or other information shall
in all cases be qualified in its entirety by Exhibit A, the Grant Notice, this Restricted Stock Unit Agreement and the Plan
and, unless it explicitly states otherwise and is signed by an officer of the Company, shall not constitute an amendment or other
modification hereto.

 

12.              
Acknowledgements. You understand, acknowledge, agree and hereby stipulate
that: (1) you are executing this Agreement voluntarily and without any duress or undue influence by the Company or anyone else;
(2) the RSUs are intended to be consideration in exchange for the promises and covenants set forth in this Agreement; (3) you have
carefully read, considered and understand all of the provisions of this Agreement and the Company’s policies reflected in
this Agreement; (4) you have asked any questions needed for you to understand the terms, consequences and binding effect of this
Agreement and you fully understand them; (5) you were provided an opportunity to seek the advice of an attorney and/or a tax professional
of your choice before accepting this award of RSUs and (6) the obligations and restrictions set forth in this Agreement are fair
and reasonable.

 

    	 	4	 

     

    

 

ATTACHMENT
II

 

2020 Incentive
Award Plan

 

 

 

 

 

 

 

 

 

    	 	5

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