SEC Contract Filing

Filing Date: 2022-03-22

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>eh220236708_ex1002.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>EXHIBIT 10.2</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DRIVEN BRANDS HOLDINGS INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>2021 Omnibus
Incentive Plan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD
AGREEMENT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">THIS RESTRICTED STOCK UNIT
AWARD AGREEMENT (this &#8220;<U>Agreement</U>&#8221;), is entered into as of [ DATE ] (the &#8220;<U>Date of Grant</U>&#8221;), by and
between Driven Brands Holdings Inc., a Delaware corporation (the &#8220;<U>Company</U>&#8221;), and ________
(the &#8220;<U>Participant</U>&#8221;). Capitalized terms used in this Agreement and not otherwise defined herein have the meanings
ascribed to such terms in the Driven Brands Holdings Inc. 2021 Omnibus Incentive Plan, as amended, restated or otherwise modified from
time to time in accordance with its terms (the &#8220;<U>Plan</U>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 0.5in">WHEREAS, the Company has
adopted the Plan, pursuant to which restricted stock units subject to service- and performance-vesting criteria (&#8220;<U>PSUs</U>&#8221;)
may be granted; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 0.5in">WHEREAS, the Committee has
determined that it is in the best interests of the Company and its stockholders to grant the PSUs provided for herein to the Participant
on the terms and subject to the conditions set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, for and
in consideration of the premises and the covenants of the parties contained in this Agreement, and for other good and valuable consideration,
the receipt of which is hereby acknowledged, the parties hereto, for themselves, their successors and assigns, hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grant of Performance-Based Restricted
Stock Units.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Grant</U>. The Company hereby grants to the Participant _____ PSUs (the &#8220;<U>Target
PSUs</U>&#8221;), on the terms and subject to the conditions set forth in this Agreement and as otherwise provided in the Plan. As more
fully described in Section 2, each PSU represents the right to receive one share of Common Stock, subject to (i) the achievement of the
applicable performance goals described in Section 2 and (ii) the Participant&#8217;s continued employment or service with the Company
through and including the Vesting Date (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Incorporation by Reference</U>. The provisions of the Plan are incorporated herein by reference. Except as otherwise expressly
set forth herein, this Agreement shall be construed in accordance with the provisions of the Plan and any interpretations, amendments,
rules and regulations promulgated by the Committee from time to time pursuant to the Plan. The Committee shall have final authority to
interpret and construe the Plan and this Agreement and to make any and all determinations under them, and its decision shall be binding
and conclusive upon the Participant and the Participant&#8217;s beneficiary in respect of any questions arising under the Plan or this
Agreement. The Participant acknowledges that the Participant has received a copy of the Plan and has had an opportunity to review the
Plan and agrees to be bound by all the terms and provisions of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"> <B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Calculation of Amount Earned; Settlement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The total number of PSUs earned, if any, shall be the amounts earned (rounded to the nearest integer) in respect of each of the
performance metrics for the applicable Performance Period as set forth in the chart below.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 85%; border-collapse: collapse">
 <TR STYLE="vertical-align: top">
 <TD STYLE="vertical-align: bottom; width: 21%; border: Black 1pt solid; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B>Performance</B></FONT></P>
 <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B>Level</B></FONT></P></TD>
 <TD STYLE="vertical-align: bottom; width: 22%; border-top: Black 1pt solid; border-right: Blac