Document:

Exhibit

EXHIBIT 10.6

[director name]
Non-5.11 NSO    
Stock Option Agreement

(Nonstatutory Stock Option Granted Under 
the Fenix Parts, Inc. 2014 Amended and Restated Incentive Stock Plan)

Subject to the following terms, Fenix Parts, Inc., a Delaware corporation (the “Company”), grants to the following director of the Company (“Grantee”), as of the following grant date (the “Grant Date”), a nonstatutory stock option (the “Option”) to purchase the following number of shares of the Company’s common stock, par value $.001 per share (the “Option Shares”), at the following purchase price per share (the “Exercise Price”), exercisable in accordance with the following vesting schedule, subject to expiration on the following expiration date (the “Expiration Date”):
Grantee:     
Grant Date:    
Number of Option Shares:    
Exercise Price:    $
Vesting Schedule:    One-fourth (1/4) of the Option Shares will vest on each of the first four anniversaries of the Grant Date  
Expiration Date:    
Terms of Option
1.    Plan
The Option has been granted under the Fenix Parts, Inc. 2014 Amended and Restated Incentive Stock Plan (the “Plan”), which is incorporated in this Agreement by reference. The Option was not granted under Section 5.11 of the Plan.  Capitalized terms used in this Agreement without being defined (for example, the term “Committee”) have the same meanings that they have in the Plan. 
2.    Vesting and Exercisability
The Option may be exercised in whole or in part at any time prior to its Expiration Date to the extent that it is vested at the time of exercise.  Any vested portion of the Option that remains unexercised shall expire on the Option’s Expiration Date, subject to earlier expiration as provided in Paragraph 5 of this Agreement. 

1

EXHIBIT 10.6

Any unvested portion of the Option shall expire on Grantee’s Termination Date unless Grantee’s Termination occurs by reason of his or her death, in which case the Option shall become fully vested as of Grantee’s Termination Date.
The Option shall become fully vested  upon a Change in Control, as provided in Article 7 of the Plan, prior to Grantee’s Termination Date. 
3.    Manner of Exercise
The Option may be exercised in respect of a whole number of Option Shares (and only in respect of a whole number) by:
(a)    written notice of exercise to the Committee (or the Committee’s designee) at the Company’s principal executive offices which is received prior to the Option’s Expiration Date; together with
(b)    full payment of the Exercise Price of the Option Shares in respect of which the Option is exercised; and
(c)    full payment of an amount equal to the Company’s federal, state and local withholding tax obligation, if any, in connection with the Option’s exercise.
In addition, the exercise of the Option shall be subject to any procedures and policies in effect at the time of exercise that the Committee has adopted to administer the Plan.
4.    Manner of Payment
Grantee’s payment of the Exercise Price of the Option Shares in respect of which the Option is exercised, and his or her payment of the Company’s withholding tax obligation, if any, in connection with the exercise, shall be made by check or by a wire transfer of immediately available funds.
Payment also may be made by means of a “cashless” net exercise through a broker approved by the Plan Administrator for the purpose, pursuant to which the full amount due to the Company is remitted directly by the broker from the net proceeds of the sale of a sufficient number of Option Shares. Payment may also be made in any other manner authorized by the Plan and specifically permitted by the Board at the time of exercise.
5.    Early Expiration of Vested Portion of Option 
The vested portion of the Option shall expire as follows:    

2

EXHIBIT 10.6

(a)  if Grantee incurs a Termination by reason of his or her death, the Option shall expire on the earlier of the first anniversary of Grantee’s Termination Date or the Option’s Expiration Date; and  
 (b)    if Grantee incurs a Termination for any reason other than Grantee’s death, the Option shall expire on the earlier of 90 days after Grantee’s Termination Date or the Option’s Expiration Date. 

3

EXHIBIT 10.6

6.    Transferability
The Option may not be transferred, assigned or pledged (whether by operation of law or otherwise), except (i) as provided by will or the applicable laws of intestacy or (ii) in accordance with Section 5.5 of the Plan. The Option shall not be subject to execution, attachment or similar process.
7.    Interpretation
This Agreement is subject to the terms of the Plan, as the Plan may be amended, but except as required by applicable law, no amendment of the Plan after the Grant Date shall adversely affect Grantee’s rights in respect of the Option without Grantee’s consent.
If there is a conflict or inconsistency between this Agreement and the Plan, the terms of the Plan shall control. The Committee’s interpretation of this Agreement and the Plan shall be final and binding.
8.    No Right to Nomination
Nothing in this Agreement shall be considered to confer on Grantee any right to continue to be nominated for election as a Director. 
9.    No Stockholder Rights
Grantee shall not have any rights as a stockholder of the Company in respect of any of the Option Shares unless and until Option Shares are issued to Grantee following his or her exercise of the Option.
10.    Governing Law
This Agreement shall be governed in accordance with the laws of the State of Illinois.
11.    Binding Effect
This Agreement shall be binding on the Company and its successors and on Grantee and Grantee’s heirs, legatees and legal representatives.
13.    Effective Date
This Agreement shall not become effective until Grantee accepts this Agreement by returning a copy to the Company completed and signed below. Upon such acceptance, this Agreement shall become effective, retroactive to the Grant Date, without the necessity of further action by either the Company or Grantee.

4

EXHIBIT 10.6

[Signatures appear on the following page.]

5

EXHIBIT 10.6

Fenix Parts, Inc.

By                
Kent Robertson
President and Chief Executive Officer

Acceptance by Grantee

I accept this Stock Option Agreement and agree to be bound by all of its terms. I acknowledge receipt of a copy of the Fenix Parts, Inc. 2014 Amended and Restated Incentive Stock Plan.  

                    
[director name]
    
Grantee’s address: 
            

6

EXHIBIT 10.6

[Signature Page for Stock Option Agreement]

7Exhibit

EXHIBIT 10.7

[employee name]
Restricted Stock Unit Award

(Fenix Parts, Inc. Amended and Restated 2014 Incentive Stock Plan)

Subject to the following terms, Fenix Parts, Inc., a Delaware corporation (the “Company”), grants to the following employee of the Company or one of its subsidiaries (“Grantee”), as of the following grant date (the “Grant Date”), the following number of restricted stock units (“RSUs”), which will become vested in accordance with the following vesting schedule (the “Vesting Schedule”), subject to expiration prior to vesting in accordance with the terms of this Award:
Grantee:        

Grant Date:        , 20__

Number of RSUs:        

Vesting Schedule:    _________ (__) RSUs will vest on each of the first ____ anniversaries of the Grant Date  

    
Terms of Award
		
	1.
	Plan

This Award has been granted under the Fenix Parts, Inc. Amended and Restated 2014 Incentive Stock Plan (the “Plan”), which is incorporated in this Award by reference.  Capitalized terms used in this Award without being defined (for example, the term “Plan Administrator”) have the same meanings that they have in the Plan.
		
	2.
	RSUs

An RSU is the nominal equivalent of one share of the Company’s common stock, par value $.001 per share, and is not an actual share of stock.  Prior to settlement as provided in Paragraph 4, RSUs are only bookkeeping entries, either on the Company’s own records or on those of any recordkeeper that the Company may use in connection with the administration of the Plan, and Grantee shall not have any rights as a stockholder of the Company in respect of his or her RSUs.
		
	3.
	Vesting

1

EXHIBIT 10.7

This Award shall vest in accordance with the Vesting Schedule.  Any unvested portion of the RSUs shall lapse and be cancelled on Grantee’s Termination Date unless Grantee’s Termination occurs by reason of his or her death, in which case the RSUs shall become fully vested as of Grantee’s Termination Date.
This Award shall become fully vested upon a Change in Control, as provided in Article 7 of the Plan, prior to Grantee’s Termination Date.
		
	4.
	Settlement upon Vesting

Upon vesting, the Company may, in the Plan Administrator’s discretion, either settle this Award in shares of the Company’s common stock or in cash, or in a combination of the two.  
If or to the extent that this Award is settled in shares, the Company shall record the delivery to Grantee of one share of stock for each RSU being settled in the books and records of the Company’s transfer agent. 
If or to the extent that this Award is settled in cash, the Company shall pay Grantee an amount equal to the product of (i) the number of RSUs being settled in cash multiplied by (ii) the Fair Market Value of the Company’s common stock as of the last trading day immediately prior to vesting.
		
	5.
	Distributions and Voting

Grantee shall not be entitled to dividends and distributions in respect of RSUs and shall not have the right to vote RSUs or have any other rights as a stockholder of the Company in respect of any RSUs unless and until the RSUs vest and are settled in shares of the Company’s common stock. 
		
	6.
	Tax Liability

The Company shall have the right, upon the vesting of any RSUs, to deduct or withhold, or require Grantee to remit to the Company, an amount sufficient to satisfy the federal, state, local and other taxes (including Grantee’s FICA obligation) that the Company is required to withhold by reason of such vesting. 
The delivery of shares of the Company’s common stock or the payment of cash in settlement of the Award pursuant to Paragraph 4 shall be conditioned upon the satisfaction of any applicable withholding tax obligation. 

2

EXHIBIT 10.7

If and to the extent that this Award is settled in shares of the Company’s common stock, the Company may withhold from the number of shares otherwise deliverable to Grantee a number of shares having a Fair Market Value (as of the last trading day immediately prior to the Vesting Date) equal to the Company’s withholding liability in respect of the delivery of those shares.  If and to the extent that this Award is settled in cash, the Company may withhold from the cash payment an amount equal to its withholding liability in respect of the payment. 
The Company may take any other action that the Plan Administrator considers necessary or advisable (for example, as permissible, withholding amounts from any compensation or other amounts payable by the Company to Grantee) to enable the Company to satisfy its withholding tax obligation in respect of the vesting and settlement of the Award.
		
	7.
	Confidentiality, Nonsolicitation and Noncompetition Agreement

This Award and the grant of the RSUs are subject to Grantee’s (i) entering into the Confidentiality, Nonsolicitation and Noncompetition Agreement which has been provided to Grantee if Grantee has not previously entered into such agreement in connection with Grantee’s receipt of an Award under the Plan (the “Noncompetition Agreement”) or (ii) Grantee’s reaffirmation of the Noncompetition Agreement that Grantee previously entered into in connection with Grantee’s receipt of an Award under the Plan.  The Company would not have granted the Award to Grantee without Grantee’s entering into or reaffirming the Noncompetition Agreement.
		
	8.
	Transferability

This Award may not be sold, transferred, assigned or pledged (whether by operation of law or otherwise), except as provided by will or the applicable intestacy laws, and shall not be subject to execution, attachment or similar process.  
		
	9.
	Interpretation

This Award is subject to the terms of the Plan, as the Plan may be amended (but except as required by applicable law, no amendment of the Plan after the Grant Date shall adversely affect Grantee’s rights in respect of the Award without Grantee’s consent).  If there is a conflict or inconsistency between this Award and the Plan, the terms of the Plan shall control.  The Plan Administrator’s interpretation of this Award and the Plan shall be final and binding.
		
	10.
	No Right to Continued Employment

Nothing in this Award shall be considered to confer on Grantee any right to continue in the employ of the Company or a Subsidiary or to limit the right of the Company or a Subsidiary to terminate Grantee’s employment.

3

EXHIBIT 10.7

		
	11.
	Governing Law

This Award shall be governed in accordance with the laws of the State of Illinois.
		
	12.
	Binding Effect

This Award shall be binding on the Company and Grantee and on Grantee’s heirs, legatees and legal representatives.
		
	13.
	Effective Date

This Award shall not become effective until Grantee’s acceptance of this Award and the acceptance or reaffirmation of the Noncompetition Agreement.  Upon Grantee’s acceptance of this Award and the acceptance or reaffirmation of the Noncompetition Agreement, this Award shall become effective, retroactive to the Grant Date, without the necessity of further action by either the Company or Grantee. 

4

EXHIBIT 10.7

Fenix Parts, Inc.

By                
Kent Robertson
President and Chief Executive Officer

Acceptance by Grantee

I accept this Restricted Stock Unit Award and agree to be bound by all of its terms.  I acknowledge receipt of a copy of the Plan, and I (i) agree to enter into the Noncompetition Agreement, a copy of which I acknowledge receipt, if I have not previously entered into such agreement in connection with the receipt of an Award under the Plan or (ii) reaffirm the Noncompetition Agreement that I have previously entered into in connection with the receipt of an Award under the Plan.

                    
[employee name]

Grantee’s address: 
_______________________________
_______________________________
_______________________________

5

EXHIBIT 10.7

[Signature Page for Restricted Stock Unit Award]

6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00257-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00257-of-00352.parquet"}]]