SEC Contract Filing

Filing Date: 2023-11-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ss2682739_ex1001.htm
<DESCRIPTION>FORM RETENTION AGREEMENT
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>RETENTION AGREEMENT</U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This Retention Agreement (the &ldquo;Agreement&rdquo;),
dated and effective as of November [___], 2023 (the &ldquo;Effective Date&rdquo;), is entered into by and between AEye, Inc., a Delaware
corporation (the &ldquo;Company&rdquo;), and [_____________] (&ldquo;Executive&rdquo;).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">WHEREAS, the Company desires to incentivize Executive
to remain employed by the Company and maintain satisfactory job performance through December 31, 2024 (the &ldquo;Retention Date&rdquo;),
for the benefit of the Company and the Company&rsquo;s stockholders.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">NOW, THEREFORE, in consideration of the premises and
the mutual covenants and obligations set forth herein, the Company agrees to provide Executive the opportunity to earn a cash award on
the terms and subject to the conditions set forth herein.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Retention
Award</U>. If Executive remains employed by Company through the Retention Date and maintains satisfactory job performance through such
date, &lrm;Executive will earn a cash award in the amount of $[_______________] (the &ldquo;Retention Award&rdquo;).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment</U>.
Except as otherwise provided herein, the Retention Award shall be paid in cash to Executive on the next regularly scheduled &lrm;payroll
date after the Retention Date, subject to deduction of customary withholding taxes and other payroll deductions. Except as otherwise provided
herein, Executive must remain employed by the Company and maintain satisfactory &lrm;job performance through the Retention Date in order
to be entitled to the Retention Award hereunder.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effect
of Termination of Employment in Connection with Death, Disability, or Termination Without Cause</U>. Notwithstanding Sections 1 and 2,
above, if Executive&rsquo;s employment with the Company is terminated due to total and permanent disability (as determined by the Company)
or death, &lrm;or if Executive experiences an involuntary termination of employment for reasons &lrm;other than Cause&lrm;, then the Retention
Award shall be paid on the next regularly scheduled &lrm;payroll date after&lrm; the date of &lrm;termination of employment&lrm;.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Definition
of Cause</U>. For purposes of this Agreement, the term &ldquo;Cause&rdquo; shall mean any of the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>Executive&rsquo;s conviction of, or a plea of nolo contendere to, a felony other than a traffic violation;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>Executive&rsquo;s commission of any act or acts of personal dishonesty intended to result in personal enrichment to Executive to the
detriment of the Company;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD>a failure to perform assigned duties, provided that such failure has continued for more than ten (10) days after the Board of Directors
or the Chief Executive Officer of the Company has given written notice of such failure and of the Company&rsquo;s intention to terminate
Executive&rsquo;s employment because of such failure;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD>any willful misconduct by Executive which materially and adversely affects the business reputation of the Company;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD>breach in any material respect by Executive of any provision of any employment, consulting, advisory, nondisclosure, non-competition,
or other similar agreement between Executive and the Company or any of its subsidiarie