SEC Contract Filing

Filing Date: 2020-08-04

Document Content:
<DOCUMENT>
<TYPE>EX-10.12
<SEQUENCE>15
<FILENAME>tm2026266d1_ex10-12.htm
<DESCRIPTION>EXHIBIT 10.12
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.12</B></P>

<P STYLE="margin: 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT><B>EXECUTION
VERSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT><B>&nbsp;</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INDEMNITY AGREEMENT</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>THIS INDEMNITY AGREEMENT</B> (this
&ldquo;<U>Agreement</U>&rdquo;) is made as of July&nbsp;29, 2020 by and between Churchill Capital Corp IV, a Delaware corporation (the
&ldquo;<U>Company</U>&rdquo;), and Karen G. Mills (&ldquo;<U>Indemnitee</U>&rdquo;).</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 0; text-align: center"><B>RECITALS</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>WHEREAS</B>, the Board of Directors of
the Company (the &ldquo;<U>Board</U>&rdquo;) has determined that it is reasonable, prudent and necessary for the Company contractually
to obligate itself to indemnify, hold harmless, exonerate and to advance expenses on behalf of, persons who serve the Company and
its direct and indirect subsidiaries (collectively, the &ldquo;<U>Company Group</U>&rdquo;) to the fullest extent permitted by
applicable law;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>WHEREAS</B>, this Agreement is a supplement
to and in furtherance of the Amended and Restated Certificate of Incorporation (the &ldquo;<U>Charter</U>&rdquo;) and the Bylaws
(the &ldquo;<U>Bylaws</U>&rdquo;) of the Company and any resolutions adopted pursuant thereto, and shall not be deemed a substitute
therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>WHEREAS</B>,&nbsp;Indemnitee may not be
willing to serve as an officer or director, advisor or in another capacity without adequate protection, and the Company desires
Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service for or
on behalf of the Company on the condition that Indemnitee be so indemnified; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>NOW, THEREFORE</B>, in consideration of
the premises and the covenants contained herein and subject to the provisions of the letter agreement dated as of July&nbsp;29,
2020, the Company and Indemnitee do hereby covenant and agree as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TERMS AND CONDITIONS</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">1.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>SERVICES
TO THE COMPANY</U>. In consideration of the Company&rsquo;s covenants and obligations hereunder,&nbsp;Indemnitee will serve or
continue to serve as an officer, director, advisor, key employee or any other capacity of any member of the Company Group, as applicable,
for so long as Indemnitee is duly elected or appointed or retained or until Indemnitee tenders Indemnitee&rsquo;s resignation or
until Indemnitee is removed. The foregoing notwithstanding, this Agreement shall continue in full force and effect after Indemnitee
has ceased to serve as a director, officer, advisor, key employee or in any other capacity of any member of the Company Group,
as provided in Section&nbsp;17. This Agreement, however, shall not impose any obligation on Indemnitee or the Company to continue
Indemnitee&rsquo;s service to the Company Group beyond any period otherwise required by law or by other agreements or commitments
of the parties, if any.</FONT></P>

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<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 0"><FONT STYLE="font-size: 10pt">2.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>DEFINITIONS</U>.
As used in this Agreement:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT ST