SEC Contract Filing

Filing Date: 2023-02-14

Document Content:
<DOCUMENT>
<TYPE>EX-10.9
<SEQUENCE>13
<FILENAME>ea173246ex10-9_intuitive.htm
<DESCRIPTION>INTUITIVE MACHINES, INC. NON-EMPLOYEE DIRECTOR COMPENSATION PROGRAM
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: right"><B>Exhibit 10.9</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>INTUITIVE MACHINES, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>NON-EMPLOYEE DIRECTOR COMPENSATION
PROGRAM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">Eligible Directors
(as defined below) on the board of directors (the &ldquo;<B><I>Board</I></B>&rdquo;) of Intuitive Machines, Inc. (the &ldquo;<B><I>Company</I></B>&rdquo;)
shall be eligible to receive cash and equity compensation as set forth in this Non- Employee Director Compensation Program (this &ldquo;<B><I>Program</I></B>&rdquo;).
The cash and equity compensation described in this Program shall be paid or be made, as applicable, automatically as set forth herein
and without further action of the Board, to each member of the Board who is not an employee of the Company or any of its parents, affiliates
or subsidiaries (each, an &ldquo;<B><I>Eligible Director</I></B>&rdquo;), unless such Eligible Director declines the receipt of such cash
or equity compensation by written notice to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">This Program
shall become effective upon the Effective Date (as defined below), and shall remain in effect until it is revised or rescinded by further
action of the Board. This Program may be amended, modified or terminated by the Board at any time in its sole discretion. No Eligible
Director shall have any rights hereunder, except with respect to equity awards granted pursuant to Section 2 of this Program. For purposes
of this Program, the &ldquo;<B><I>Effective Date</I></B>&rdquo; shall mean the date on which the closing of the transactions contemplated
by that certain Business Combination Agreement by and between the Company and Intuitive Machines, LLC, a Texas limited liability company,
dated as of September 16, 2022 (the &ldquo;<B><I>Business Combination</I></B>&rdquo;) are consummated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: left"><U>Cash Compensation</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 1in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Annual Retainers</U>. Each Eligible Director shall be eligible to receive an annual cash retainer of $55,000 for service on
the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 1in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Additional Annual Retainers</U>. An Eligible Director shall be eligible to receive the following additional annual retainers,
as applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 80pt">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Audit Committee</U>. An Eligible Director serving as Chairperson of the Audit Committee shall be eligible to receive an additional
annual retainer of $20,000 for such service. An Eligible Director serving as a member of the Audit Committee (other than the Chairperson)
shall be eligible to receive an additional annual retainer of $10,000 for such service.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 80pt">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Compensation Committee</U>. An Eligible Director serving as Chairperson of the Compensation Committee shall be eligible to receive
an additional annual retainer of $15,000 for such service. An Eligible Director serving as a member of the Compensation Committee (other
than the Chairperson) shall be eligible to receive an additional annual retainer of $7,500 for such service.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 80pt">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
</FONT><U>Nominating and Corporate Governance Committee</U>. An Eligible Director serving as Chairperson of the Nominating and Corporate
Governance Committee shall be eligible to receive an additional annual retainer of $10,000 for such service. An Eligible Director serving
as a member of the Nominating and Corporate Governance Committee