Common use of Restricted Equity Units Clause in Contracts

Restricted Equity Units. As soon as practicable after the Contingency has occurred, you will be granted the number of restricted equity units (“REUs”) under The Beneficient Company Group, L.P. 2017 Equity Incentive Plan, as has been adopted by the board of Management, (the “BEN EIP”) representing common units in BEN with a fair market value, as determined by the board in its sole discretion as of the date of grant, equal to $1,000,000.00. The REUs will be fully time-vested upon the date of grant and subject to certain other terms, conditions, limitations and restrictions, including performance-vesting criteria requiring that the common units of BEN become listed and traded on the New York Stock Exchange or The NASDAQ Stock Market, as determined by the board of Management and set forth in an REU award agreement (the “REU Award Agreement”). If as of the date the common units of BEN become listed and traded on the New York Stock Exchange or The NASDAQ Stock Market (the “Listing Date”) the fair market value of the common units subject to the REUs is less than $1,000,000.00, then you will be granted additional REUs such that the total fair market value of the common units, as of the Listing Date, subject to the REUs equals $1,000,000.00. Any such additional REUs will be settled at the same time as the original REUs. The BEN EIP will be adopted in substantially the form attached hereto as Ex. 1. The REU Award Agreement will be issued in substantially the form attached hereto as Ex. 2. ,

Restricted Equity Units. As soon as practicable after the Contingency has occurred, you will be granted the number of restricted equity units (“REUs”) under The Beneficient Company Group, L.P. 2017 Equity Incentive Plan, as has been adopted by the board of Management, (the “BEN EIP”) representing common units in BEN with a fair market value, as determined by the board in its sole discretion as of the date of grant, equal to $1,000,000.00$ I ,000,000.00. The REUs will be fully time-vested upon the date of grant and subject to certain other terms, conditions, limitations and restrictions, including performance-vesting criteria requiring that the common units of BEN become listed and traded on the New York Stock Exchange or The NASDAQ Stock Market, as determined by the board of Management and set forth fo1ih in an REU award agreement (the “REU Award Agreement”). If as of the date the common units of BEN become listed and traded on the New York Stock Exchange or The NASDAQ Stock Market (the “Listing Date”) the fair market value of the common units subject to the REUs is less than $1,000,000.00, then you will be granted additional REUs such that the total fair market value of the common units, as of the Listing Date, subject to the REUs equals $1,000,000.00. Any such additional REUs will be settled at the same time as the original REUs. The BEN EIP will be adopted in substantially the form attached hereto as Ex. 1. The REU Award Agreement will be issued in substantially the form attached hereto as Ex. 2. ,.

Restricted Equity Units. As soon as practicable after the Contingency has occurred, you You will be granted the number of restricted ofrestricted equity units (“REUsREVs”) under The Beneficient Company Group, L.P. 2017 2018 Equity Incentive Plan, as has been adopted by the board of ManagementCompany Board, (the “BEN Ben EIP”) representing common units in BEN Ben with a fair market value, as determined by the board in its sole discretion value as of the date of grant, grant equal to $1,000,000.00500,000 (such REVs the “Initial REVs”). The REUs Initial REVs will be fully subject to four-year time-vested upon the date of grant vesting and subject to certain other terms, conditions, limitations and restrictions, including performance-vesting criteria requiring that Ben complete an Initial Listing Event (as defined in the common units of BEN become listed and traded on the New York Stock Exchange or The NASDAQ Stock MarketREV Award Agreement (as defined below)), as determined by the board of Management Company Board and set forth in an REU award agreement (the “REU REV Award Agreement”). If as of the date the common units of BEN become listed and traded on the New York Stock Exchange or The NASDAQ Stock Market Initial Listing Event (the “Listing Date”) the fair market value of the common units subject to the REUs Initial REVs is less than $1,000,000.00500,000, then you will be granted additional REUs REVs such that the total fair market value of the common units, as of the Listing Date, subject to the REUs Initial REVs and such additional REVs equals $1,000,000.00500,000. Any such additional REUs REVs will be settled subject to the same terms, conditions, limitations and restrictions as the Initial REVs, including settlement at the same time as the original REUsInitial REVs; provided that such additional REVs will time-vest as if they were granted at the same time as the Initial REVs. In addition, on January 1, or as soon as practicable thereafter, of each year of service during the Initial Term you will be granted the number of REVs representing common units in Ben with a fair market value as of the date of grant equal to $150,000 (such REVs, the “Annual REVs”), provided that you are serving as a director of the Company as of each such January 1. The BEN Annual REVs wilI be fully time-vested on the date of grant and subject to certain other terms, conditions, limitations and restrictions, including, if applicable, performance-vesting criteria requiring that Ben has completed an Initial Listing Event, as determined by the Company Board and set forth in the REV Award Agreement. For purposes of this paragraph 4(b), the fair market value of common units in Ben prior to the Listing Date shall be determined by the Company Board in good faith, and the fair market value of common units in Ben on or after the Listing Date shall be determined in accordance with the Ben EIP. The Ben EIP is attached hereto as Ex. 1. The Initial REUs will be adopted issued pursuant to an award agreement in substantially the form attached hereto as Ex. 1. The 2 (the “REU Award Agreement will be issued in substantially the form attached hereto as Ex. 2. ,Agreement”).

Restricted Equity Units. As soon as practicable after the Contingency has occurred, you will be granted the number of restricted equity units (“REUs”) under The Beneficient Company Group, L.P. 2017 Equity Incentive Plan, as has been adopted by the board of Management, (the “BEN EIP”) representing common units in BEN with a fair market value, as determined by the board in its sole discretion as of the date of grant, equal to $1,000,000.00. The REUs will be fully time-vested upon the date of grant and subject to certain other terms, conditions, limitations and restrictions, including performance-vesting criteria requiring that the common units of BEN become listed and traded on the New York Stock Exchange or The NASDAQ Stock Market, as determined by the board of Management and set forth in an REU award agreement (the “REU Award Agreement”). If as of the date the common units of BEN become listed and traded on the New York Stock Exchange or The NASDAQ Stock Market (the “Listing Date”) the fair market value of the common units subject to the REUs is less than $1,000,000.00, then you will be granted additional REUs such that the total fair market value of the common units, as of the Listing Date, subject to the REUs equals $1,000,000.00. Any such additional REUs will be settled at the same time as the original REUs. The BEN EIP will be adopted in substantially the form attached hereto as Ex. 1. The REU Award Agreement will be issued in substantially the form attached hereto as Ex. 2. ,.