Document:

Exhibit 10.01

 

EOS ENERGY ENTERPRISES, INC.

NON-EMPLOYEE DIRECTOR COMPENSATION POLICY

(Effective as of December 8, 2020 (the
“Effective Date”))

 

1. Establishment
of the Policy; Amendment. Each member of the Board of Directors (the “Board”) of Eos Energy Enterprises,
Inc. (the “Company”) who is not an employee or executive officer of the Company or its subsidiaries (each such
member, a “Non-Employee Director”) will be eligible to receive the compensation described in this Non-Employee
Director Compensation Policy (this “Policy”) for his or her Board service. This Policy may be amended or terminated
at any time in the sole discretion of the Compensation Committee of the Board (the “Compensation Committee”).
The terms of this Policy shall supersede all prior cash and/or equity compensation arrangements for service as a member of the
Board between the Company and any Non-Employee Director and between any subsidiary of the Company and any of its non-employee directors.
The cash compensation and equity grants described in this Policy shall be paid or be made, as applicable, automatically in accordance
with the terms of the Policy, without the need for any further action by the Board or the Compensation Committee.

 

2. Annual
Cash Compensation; Payment. Beginning in calendar year 2021 and for each calendar year thereafter, each individual who
is a Non-Employee Director will be paid an annual cash retainer of $25,000. There are no per-meeting attendance fees for attending
Board meetings or meetings of any committee of the Board. The annual cash retainer payable hereunder will be paid in equal quarterly
installments, in arrears, following the end of the calendar quarter in which the service occurred (pro-rated for any partial months
of service).

 

3. Equity
Compensation.

 

(a) Generally.
Equity Awards will be granted under the Company’s 2020 Incentive Plan, as amended from time to time (the “Plan”).

 

(b) Initial
Equity Awards

 

(i) Initial
Option Grants. Each individual who either (x) is a Non-Employee Director on the Effective Date or (y) becomes
a Non-Employee Director after the Effective Date will, as promptly as practicable following the Effective Date (in the case of
clause (x)) or the commencement of such Non-Employee Director’s service as such (in the case of clause (y)),
be granted an Option (as a Nonqualified Stock Option under the Plan) to purchase such number of shares (rounded to the nearest
whole number) of Common Stock having an Option Value (as defined below) equal to $75,000 as of the grant date of such Option (the
“Initial Option Grant”). The Initial Option Grant shall vest and become exercisable upon the earlier of (A)
the one-year anniversary of the grant date of such Initial Option Grant, and (B) immediately prior to the date of the next
annual shareholders meeting of the Company following the grant date of such Initial Option Grant, in each case, subject to the
Non-Employee Director’s continuous service as a member of the Board through such vesting date; provided, that,
the Initial Option Grant will vest in full immediately prior to, and contingent upon, the consummation of a Change in Control.
For purposes of this Policy, “Option Value” shall mean, with respect to any Award of an Option, the grant date
fair value of such Option (i.e., Black-Scholes Value) determined in accordance with the reasonable assumptions and methodologies
employed by the Company for calculating the fair value of an Option under Accounting Standards Codification 718.

 

     

     

    

 

(ii) Initial
Restricted Stock Unit Grants. Each individual who either (x) is a Non-Employee Director on the Effective Date or
(y) becomes a Non-Employee Director after the Effective Date will, as promptly as practicable following the Effective Date (in
the case of clause (x)) or the commencement of such Non-Employee Director’s service as such (in the case of clause
(y)), be granted such number of Restricted Stock Units (rounded to the nearest whole number) in an amount equal to (A)
$75,000, divided by (B) the closing sales price for the Common Stock of the Company as listed on The Nasdaq
Capital Market under the ticker symbol “EOSE” as of the grant date of such Restricted Stock Units (the “Initial
RSU Grant”). The Initial RSU Grant will vest and be settled on the earlier of (I) the one-year anniversary of
the grant date of such Initial RSU Grant, and (II) immediately prior to the date of the next annual shareholders meeting
of the Company following the grant date of such Initial RSU Grant, in each case, subject to the Non-Employee Director’s continuous
service as a member of the Board through such vesting date; provided, that, the Restricted Stock Units will vest
in full immediately prior to, and contingent upon, the consummation of a Change in Control.

 

(c) Continuing
Grants. Subject to Section 3(d), on the second trading day following each annual meeting of the Company’s stockholders
after the Effective Date, each individual who is then a Non-Employee Director shall be granted (i) an Option (as a Nonqualified
Stock Option under the Plan) to purchase such number of shares (rounded to the nearest whole number) of Common Stock having an
Option Value equal to $75,000 as of the grant date of such Option (a “Continuing Option Grant”) and (ii)
such number of Restricted Stock Units (rounded to the nearest whole number) in an amount equal to (A) $75,000, divided
by (B) the closing sales price for the Common Stock of the Company as listed on The Nasdaq Capital Market under the
ticker symbol “EOSE” as of the grant date of such Restricted Stock Units (a “Continuing RSU Grant”
and, together with the Continuing Option Grant, the “Continuing Grants”). Each Continuing Grant shall vest and
become exercisable upon the earlier of (x) the one-year anniversary of the grant date of such Continuing Grant, and (y)
immediately prior to the date of the next annual shareholders meeting of the Company following the grant date of such Continuing
Grant, in each case, subject to the Non-Employee Director’s continuous service as a member of the Board through such vesting
date; provided, that, each Continuing Grant will vest in full immediately prior to, and contingent upon, the consummation
of a Change in Control.

 

(d) Continuing
Grants for Certain New Non-Employee Directors. If an individual becomes a Non-Employee Director for the first time other
than by election or appointment at an annual meeting of the Company’s stockholders, such Non-Employee Director shall be entitled
to receive Continuing Grants in connection with the next annual meeting pursuant to Section 3(c) above; provided,
however, that the date on which such individual became a Non-Employee Director is not less than four calendar months
prior to the date of the next annual meeting of the Company’s stockholders. If the date on which such individual became a
Non-Employee Director is less than four calendar months prior to the date of the next annual meeting of the Company’s stockholders,
then such Non-Employee Director shall not be granted any Continuing Grants pursuant to Section 3(c) above in connection
with such next annual meeting of the Company’s stockholders.

 

4. Expenses.
The Company will reimburse each Non-Employee Director for all reasonable out-of-pocket expenses incurred by such Non-Employee Director
for attending meetings of the Board of any committee thereof; provided, that, such Non-Employee Director timely submits
to the Company appropriate documentation substantiating such expenses in accordance with the Company’s expense policy, as
in effect from time to time.

 

5. Capitalized
Terms. Capitalized terms used herein but not defined shall have the meaning ascribed to such term in the Plan.Exhibit 10.02

 

DIRECTOR FORM RESTRICTED STOCK UNIT
AWARD AGREEMENT

 

This Restricted Stock
Unit Award Agreement (this “Agreement”) is dated as of [___________], and is made by and between Eos Energy
Enterprises, Inc., a Delaware corporation (the “Company”), and the Participant whose name appears on the signature
page to this Agreement (“Director”). Capitalized terms used herein and not defined shall have the meaning ascribed
to such terms in the B. Riley Principal Merger Corp. II 2020 Incentive Plan, as amended from time to time.

 

Witnesseth:

 

Whereas,
the Board has adopted the Plan to motivate Eligible Persons of the Company or its Affiliates by providing them with an ownership
interest in the Company;

 

Whereas,
the Committee has approved the grant to Director of the aggregate number of Restricted Stock Units set forth on the signature page
to this Agreement; and

 

Whereas,
Director and the Company desire to enter into an agreement to evidence and confirm the grant of such Restricted Stock Units on
the terms and conditions set forth herein.

 

Now, therefore,
to evidence the Restricted Stock Units so granted, and to set forth the terms and conditions governing such Restricted Stock Units,
the Company and Director hereby agree as follows:

 

1. Grant.
The Company hereby evidences and confirms its grant to Director, effective as of the date hereof (the “Grant Date”),
of the aggregate number of Restricted Stock Units set forth on the signature page hereof.

 

2. Vesting.

 

(a) Vesting.
Except as otherwise provided in this Agreement, subject to the continuous engagement of Director by the Company or any Affiliate
through the applicable vesting date, the Restricted Stock Units shall fully vest on the earlier of (i) the first anniversary
of the Grant Date, and (ii) immediately prior to the date of the next annual shareholders meeting of the Company following
the Grant Date; provided, that, the Restricted Stock Units shall vest in full upon the consummation of a Change in
Control.

 

(b) Committee
Acceleration. The Committee may accelerate the vesting of all or any portion of the Restricted Stock Units, at any time
and from time to time. Notwithstanding the immediately preceding sentence, except as approved by the Committee, no Restricted Stock
Units shall vest after the date on which Director receives a notice of termination of engagement from the Company or tenders a
notice of termination to the Company, as applicable.

 

3. Termination.
In the event Director’s services to the Company and its Affiliates are terminated for any reason, the Restricted Stock Units
(or portion thereof) that are not vested as of Director’s termination of services shall be immediately forfeited and cancelled
on the date of such termination of services.

 

4. Transferability.
Except as expressly permitted under Section 14(b) of the Plan, the Restricted Stock Units may not be sold, transferred, pledged,
assigned or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution.

 

5. Settlement.
To the extent the Restricted Stock Units (or portion thereof) shall have become vested, and subject to such administrative regulations
as the Committee may have adopted, the Restricted Stock Units shall be settled and issued in accordance with the terms and conditions
of Section 9(d)(ii) of the Plan.

 

     

     

    

 

6. Forfeiture;
Recovery of Compensation. By accepting, or being deemed to have accepted, the Restricted Stock Units, Director expressly
agrees to be bound by the terms of any clawback or recoupment policy of the Company that applies to incentive compensation that
includes the Restricted Stock Units. Nothing in the preceding sentence will be construed as limiting the general application of
Section 7(a) of this Agreement.

 

7. General
Provisions.

 

(a) Plan
Provisions. The Restricted Stock Units granted hereunder are being issued pursuant to and in accordance with the Plan (a
copy of which has been made available to Director) and, as such, are subject in all respects to the Plan, all of the terms of which
are made a part of and incorporated into this Agreement. In the event of any conflict between any term of this Agreement and the
terms of the Plan, the terms of the Plan shall control.

 

(b) No
Rights as a Stockholder. Director shall have no voting or other rights as a stockholder of the Company with respect to
any Restricted Stock Units (or portion thereof) until the Restricted Stock Units (or portion thereof) have been settled and issued
in accordance with the terms and conditions of Section 9(d)(ii) of the Plan.

 

(c) Securities
Law Matters; Compliance with Rule 144.

 

(i) Director
acknowledges that, until the Common Stock to be acquired upon the settlement of the Restricted Stock Units has been registered
under the Securities Act or such other state or foreign laws, as applicable, (A) the Common Stock to be acquired upon the
settlement of the Restricted Stock Units has not been registered under the Securities Act or any state or foreign securities or
“blue sky” laws; (B) the Common Stock to be acquired upon the settlement of the Restricted Stock Units must
be held indefinitely and Director must continue to bear the economic risk of the investment in the Common Stock unless the Common
Stock is subsequently registered under the Securities Act and such state or foreign laws or an exemption from registration is available;
(C) when and if the Common Stock to be acquired upon the settlement of the Restricted Stock Units may be disposed of without
registration in reliance upon Rule 144 of the Securities Act (“Rule 144”), such disposition can generally be
made only in limited amounts in accordance with the provisions of such rule; and (D) a notation shall be made in the appropriate
records of the Company indicating that the Common Stock to be acquired upon the settlement of the Restricted Stock Units is subject
to restrictions on transfer set forth in this Agreement and, if the Company should in the future engage the services of a stock
transfer agent, appropriate stop-transfer restrictions will be issued to such transfer agent with respect to the Common Stock to
be acquired upon the settlement of the Restricted Stock Units.

 

(ii) Compliance
with Rule 144. If the Common Stock to be acquired upon the settlement of the Restricted Stock Units (or portion thereof)
are to be disposed of in accordance with Rule 144, Director shall transmit to the Company an executed copy of Form 144 (if required
by Rule 144) no later than the time such form is required to be transmitted to the Securities and Exchange Commission for filing
and such other documentation as the Company may reasonably require to assure compliance with Rule 144 in connection with such disposition.

 

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(d) Binding
Effect; Benefits; Assignability. This Agreement shall be binding upon and inure to the benefit of the parties to this Agreement
and their respective successors and assigns. Nothing in this Agreement, express or implied, is intended or shall be construed to
give any person other than the parties to this Agreement or their respective successors or assigns any legal or equitable right,
remedy or claim under or in respect of any agreement or any provision contained herein. Neither this Agreement nor any right, remedy,
obligation or liability arising hereunder or by reason hereof shall be assignable by the Company or Director without the prior
written consent of the other party.

 

(e) Amendment.
This Agreement may be amended, modified or supplemented only by a written instrument executed by Director and the Company; provided,
however, that, without Director’s consent, the Committee may amend (such amendment to have the minimum economic
effect necessary, as determined by the Committee in its sole discretion) this Agreement in such a manner as may be necessary or
appropriate to avoid having the Restricted Stock Units become subject to the penalty provisions of Section 409A of the Code.

 

(f) Severability.
In the event that any one or more of the provisions of this Agreement shall be or become invalid, illegal or unenforceable in any
respect, the validity, legality and enforceability of the remaining provisions contained herein shall not be affected thereby.

 

(g) Counterparts;
Section Headings. This Agreement may be executed in any number of counterpart, each of which shall be deemed to be an original,
and all of which together shall constitute one and the same instrument. The parties hereto agree to accept a signed facsimile or
portable document format copy of this Agreement as a fully binding original. Except as otherwise indicated, references herein to
any “Section” means a “Section” of this Agreement, and the section headings in this Agreement are for purposes
of reference only and shall not limit or define the meaning hereof.

 

-- Signature
page follows --

 

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In Witness Whereof,
the Company and Director have executed this Restricted Stock Unit Award Agreement as of the date first above written.

 

	 	Eos Energy Enterprises, Inc.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	Director
	 	 
	 	 
	 	[__]
	 	 
	 	Address:
	 	 
	 	 
	 	 

 

Number of Restricted

	Stock Units:	[__]	 

 

 

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