Company: EVLVW
Filing Date: 2025-04-23
Form Type: 8-K
Source: 0001104659-25-037732
Chunk: 2

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-23
Form: 8-K
Item: Item 5.02
Chunk 2
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 which occurs after the 12-month anniversary of the Vesting
Commencement Date of the Initial Equity Awards (and, in the case of the New Hire MSUs, prior to the last date of the Performance Period),
then, subject to Mr. Kutsor’s execution and non-revocation of a release of claims, (i) the New Hire MSUs will remain outstanding
and eligible to vest based on actual performance through the Performance Period (prorated based on the number of full months Mr. Kutsor
remains employed or in service during the Performance Period) and (ii) the number of New Hire RSUs that would have become vested had Mr.
Kutsor remained employed for the six-month period immediately following the date of termination will accelerate in full.

Mr. Kutsor currently resides in Illinois. To assist with the travel
and housing costs associated with Mr. Kutsor’s travel to and from the Company’s headquarters in Waltham, Massachusetts, Mr.
Kutsor will receive a travel stipend of $6,000 per month during his first year of employment and a travel stipend of $3,000 per month
during his second year of employment. The Company will also pay up to $15,000 of Mr. Kutsor’s counsel fees incurred in connection
with the negotiation and documentation of the Offer Letter.

The Company will offer Mr. Kutsor indemnification in accordance with
the terms of the Company’s previously disclosed standard form of indemnification agreement and will provide and maintain a directors’
and officers’ liability insurance policy covering Mr. Kutsor in his capacity as an officer and director of the Company and any of
its affiliates no less favorable than the Company’s directors’ and officers’ liability insurance offered to Company
executives or directors.

The foregoing description of the Offer Letter does not purport to be
complete and is subject to, and qualified in its entirety by such Offer Letter, which is filed hereto as Exhibit 10.1.

There are no arrangements or understandings between Mr. Kutsor and
any other person pursuant to which he was appointed as Chief Financial Officer or designated as principal financial officer. Mr. Kutsor
does not have any family relationship with any director or other executive officer of the Company, or any person nominated or chosen by
the Company to become a director or executive officer, and there are no transactions in which Mr. Kutsor has an interest requiring disclosure
under Item 404(a)