Amendment to Restricted Stock Unit Award Agreement between LifeStance Health Group, Inc. and Michael Lester

Summary

This amendment updates the Restricted Stock Unit Award Agreement between LifeStance Health Group, Inc. and Michael Lester, originally dated June 9, 2021. The amendment modifies the vesting schedule for 1,652,963 restricted stock units, specifying new vesting dates and conditions tied to continued employment or consulting services. It also addresses what happens to the units if employment ends or if there is a change in control of the company. All other terms of the original agreement remain unchanged.

EX-10.3 4 lfst-ex10_3.htm EX-10.3 EX-10.3

Exhibit 10.3

LIFESTANCE HEALTH GROUP, INC.
2021 Equity Incentive Plan

AMENDMENT TO
Restricted Stock Unit Award Agreement

THIS AMENDMENT (this “Amendment”) amends the Restricted Stock Unit Award Agreement by and between LifeStance Health Group, Inc. (the “Company”), and Michael Lester (the “Participant”), dated June 9, 2021 (the “Agreement”), and is effective as of September 7, 2022 (the “Effective Date”). Any capitalized term not defined herein shall have the meaning provided in the Agreement.

RECITALS

WHEREAS, pursuant to the Agreement, the Participant was granted 1,652,963 restricted stock units on the terms provided therein and in the Plan; and

Whereas, the parties now desire to amend the Agreement to modify the vesting schedule of such restricted stock units.

NOW, THEREFORE, in consideration of the mutual agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Participant hereby agree as follows:

Section 3 of the Agreement is hereby amended and restated in its entirety to read as follows:

“Vesting; Cessation of Employment.

(a)

Subject to the Participant’s continued Employment (which term shall include for purposes of this Agreement, for the avoidance of doubt, the Participant’s indirect services to the Company through Alert5 Consulting, LLC) through each applicable vesting date, (i) thirty-three and one-third percent (33⅓%) of the Restricted Stock Units shall vest on the first anniversary of the Date of Grant; (ii) an additional thirty-three and one-third percent (33⅓%) of the Restricted Stock Units shall vest on the second anniversary thereof; and (iii) the final thirty-three and one-third percent (33⅓%) of the Restricted Stock Units shall vest on the third anniversary thereof, such that the Restricted Stock Units will be one hundred percent (100%) vested on the third (3rd) anniversary of the Date of Grant.

(b)

If the Participant’s Employment is terminated by the Company for any reason other than for Cause or terminates as a result of the consulting period under the Consulting Agreement, dated September 8, 2022, among the Participant, the Company and Alert5 Consulting LLC, terminating on the End Date (as defined in such agreement) in accordance with its terms, and provided that the Participant does not breach any Restrictive Covenant (as defined in the Separation Agreement and General Release, dated September 7, 2022, among the Participant, the Company, LifeStance Health, Inc., and Alert5 Consulting LLC), the Restricted Stock Units shall vest in full upon such termination of Employment. If the Participant’s Employment is terminated by the Company for Cause, the Participant terminates his Employment for any reason prior to the

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End Date or the Participant breaches any Restrictive Covenant, the portion of the Award then outstanding, if any, will terminate and be forfeited for no consideration.

(c)

Change in Control. Notwithstanding anything to the contrary, if a Change in Control (as such term is defined in the LifeStance Severance and Change in Control Policy (the ‘Policy’)) is consummated within six (6) months following the Effective Date, provided that the Participant’s Employment has not been terminated for Cause and the Participant does not breach any Restrictive Covenant, the Restricted Stock Units shall treated as set forth in the Policy as if the Participant had incurred a Qualifying Termination within the Change in Control Period (as such terms are defined in the Policy).”

Except as expressly set forth in this Amendment, the Agreement will continue in full force and effect in accordance with its terms. This Amendment sets forth the entire understanding of the parties, and, as of the date of this Amendment, supersedes all prior agreements and all other arrangements and communications, whether oral or written, with respect to the subject matter hereof. This Amendment may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Amendment is a Delaware contract and shall be governed by and enforced in accordance with the laws of the State of Delaware, without giving effect to any choice or conflict of law provisions (whether Delaware or any other jurisdiction) that would cause the application of the laws of any other jurisdiction other than Delaware.

[Signature Page to Amendment Follows]

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IN WITNESS WHEREOF, the Company and the Participant have executed and delivered this Amendment as of the date first written above.


THE COMPANY:

LifeStance Health Group, Inc.

Signature:	/s/ Ryan Pardo
Name:	Ryan Pardo
Title:	Chief Legal Officer, Vice President and Secretary


THE PARTICIPANT:


Signature:	/s/ Michael Lester
	Michael Lester

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