Form of Vesting Adjustment Letter relating to Performance-Based Awards

EX-10.22 5 bmbl-ex10_22.htm EX-10.22 EX-10.22

 

Exhibit 10.22

[Bumble Letterhead]

August 22, 2022

Re: Additional Vesting Opportunity for Performance-Based Awards

Dear Award Holder,

You are receiving this letter (this “Letter”) because you hold one or more awards (each, an “Award”) under the Bumble Inc. 2021 Omnibus Incentive Plan. A portion of your Award (or Awards) is eligible to vest upon achievement of performance conditions (the “Performance Award”). Specifically, the Performance Award is eligible to vest (and, in the case of stock options, become exercisable) upon the attainment by affiliates of Blackstone Inc. of specified cash returns on their investment in Bumble Inc. (“Bumble”) and its subsidiaries and a specified cash internal rate of return on their investment in Bumble and its subsidiaries (the “Existing Performance‑Vesting Terms”), subject to your continued employment or service with Bumble and its subsidiaries through the applicable vesting date. For additional information regarding the Existing Performance-Vesting Terms, please refer to your Charles Schwab account and your award agreement(s).

We are pleased to inform you that Bumble’s Board of Directors approved an additional, service‑based vesting opportunity for your Performance Award. That is, in addition to the Existing Performance-Vesting Terms, the Performance Award will vest (and, in the case of stock options, become exercisable), subject to your continued employment or service with Bumble and its subsidiaries through the applicable vesting date, in thirty-six (36) equal installments, with the first installment vesting on August 29, 2022 and subsequent installments vesting on each of the next thirty-five (35) monthly anniversaries of August 29, 2022. This means that, even if the Existing Performance-Vesting Terms are not achieved (or are only partially achieved), you will become vested in the full Performance Award no later than July 29, 2025, subject to your continued employment or service with Bumble and its subsidiaries through the applicable vesting date.

For the avoidance of doubt, no changes were made to the service-based vesting schedule for the portion of your Award(s) that is already subject to service-based vesting criteria and, except as provided in this Letter, your Award(s) remains unchanged and will continue in full force and effect.

If you have any questions, please reach out to ***@***. We thank you for your continued hard work and dedication to Bumble!

 

Sincerely,

Bumble Inc.

 

/s/ Tariq Shaukat

Tariq Shaukat

President