SEC Contract Filing

Filing Date: 2020-07-15

Document Content:
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<TYPE>EX-10.3
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<FILENAME>d46161dex103.htm
<DESCRIPTION>EX-10.3
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.3 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="max-width:100%;margin-left:0%; margin-right:0%;border:solid 1px;background-color:;;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:6pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>VIRGIN GALACTIC HOLDINGS, INC. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; padding-bottom:6pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2019 INCENTIVE AWARD PLAN </B></P></div>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RESTRICTED STOCK UNIT GRANT NOTICE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Virgin Galactic Holdings, Inc., a Delaware corporation (the &#147;<B><I>Company</I></B>&#148;), has granted to the participant listed below
(&#147;<B><I>Participant</I></B>&#148;) the Restricted Stock Units (the &#147;<B><I>RSUs</I></B>&#148;) described in this Restricted Stock Unit Grant Notice (this &#147;<B><I>Grant Notice</I></B>&#148;), subject to the terms and conditions of the
Virgin Galactic Holdings, Inc. 2019 Incentive Award Plan (as amended from time to time, the &#147;<B><I>Plan</I></B>&#148;) and the Restricted Stock Unit Agreement attached hereto as <B>Exhibit A</B> (the &#147;<B><I>Agreement</I></B>&#148;), both
of which are incorporated into this Grant Notice by reference. Capitalized terms not specifically defined in this Grant Notice or the Agreement have the meanings given to them in the Plan. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
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<TD VALIGN="top"><B>Participant:</B></TD>
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<TD VALIGN="top">George Whitesides</TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><B>Grant Date:</B></TD>
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<TD VALIGN="top">July&nbsp;20, 2020</TD></TR>
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<TD VALIGN="top"><B>Number of RSUs:</B></TD>
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<TD VALIGN="top">320,840</TD></TR>
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<TD VALIGN="top"><B>Vesting Commencement Date:</B></TD>
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<TD VALIGN="top">July&nbsp;20, 2020</TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><B>Vesting Schedule:</B></TD>
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<TD VALIGN="top">The RSUs shall vest as to 1/8<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> of the RSUs on each quarterly anniversary of the Vesting Commencement Date during the <FONT STYLE="white-space:nowrap">two-year</FONT> period
following the Vesting Commencement Date (each such anniversary date, a &#147;<B><I>Vesting Date</I></B>&#148;), subject to the Participant&#146;s continued service with the Company.</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">By accepting (whether in writing, electronically or otherwise) the RSUs, Participant agrees to be bound by the
terms of this Grant Notice, the Plan and the Agreement, and agrees that the RSUs are granted in satisfaction of the Company&#146;s obligations to grant the New RSU Award as defined and described in the Employment Agreement (as defined in the
Agreement). Participant has reviewed the Plan, this Grant Notice and the Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of the Plan, this
Grant Notice and the Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan, this Grant Notice or the Agreement. </P>
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