Document:

Blueprint

 

Exhibit 10.1

 

LAKELAND
INDUSTRIES, INC.

 

 

July
19, 2019

 

 

Mr.
Allen Dillard

147
Mayo Road

New
Hope, AL 35760

 

 

Dear
Mr. Dillard:

 

The
purpose of this letter is to confirm your employment with Lakeland
Industries, Inc. on the following terms and
conditions:

 

1.            

THE PARTIES

 

This is
an Agreement, effective as of August 12, 2019 (the “Effective
Date”), between Allen Dillard, residing at 147 Mayo Road, New
Hope, AL 35760 (hereinafter referred to as “you”), and
Lakeland Industries, Inc., a Delaware corporation, with a principal
place of business located at 3555 Veterans Memorial Highway, Suite
C, Ronkonkoma, NY  11779-7410 (hereinafter the
“Company”).

 

2.            

TERM

 

The
term of the Agreement shall be for an 18 month period, from the
Effective Date through and including February 11,
2021.

 

3.            

CAPACITY

 

You
shall be employed in the capacity of Chief Financial Officer of
Lakeland Industries, Inc. with such responsibilities and duties as
may be assigned to you from time to time by the
Company.

 

You
agree to devote your full time and attention and best efforts to
the faithful and diligent performance of your duties to the Company
and shall serve and further the best interests and enhance the
reputation of the Company to the best of your ability.

 

4.            

COMPENSATION

 

As full
compensation for your services, you shall receive the
following from the Company:

 

(a)

A base annual
salary of $240,000 payable bi-weekly (the “Base
Salary”); and

 

(b)

A stock option,
upon commencement of employment, to purchase 24,900 shares of
common stock of the Company. Such option will be for a term of 10
years, be exercisable at the fair market value of the common stock
on the date of grant, become exercisable as to 8,300 shares on each
of the one year, two year and three year anniversaries of the grant
date and be an “incentive” stock option to the extent
permissible under the Internal Revenue Code of 1986, as amended
(the “Code”); and

 

(c)

Participation, if
and when eligible, in any of the Company’s pension plans,
profit sharing plans, medical and disability plans and 401(k) plans
when any such plans are or become effective; and

 

(d)

Such benefits as
are provided from time to time by the Company to its officers and
employees; provided however that your annual vacation shall be for
a period of 3 weeks; and

 

(e)

Reimbursement for
any dues and expenses incurred by you that are necessary and proper
in the conduct of the Company’s business; and

 

(f)

Participation, as
determined in the discretion of the Compensation Committee of the
Board of Directors of the Company (the “Compensation
Committee”), in the Company’s 2017 Equity Incentive
Plan and any other restrictive stock, stock appreciation rights,
stock option or other equity plans of the Company as may become
effective; in this connection, it is intended that you will receive
a prorated grant of restricted stock, pursuant to the
Company’s LTIP program, at the time of next grant;
and

 

 

1

 

   

(g)

In respect of the
fiscal year ending January 31, 2020, a bonus for up to 20% of Base
Salary, based upon such parameters, as determined by the
Compensation Committee, in conjunction with consultation with you
and thereafter, if determined in its sole discretion by the
Compensation Committee, an annual bonus in such amount, and based
upon such parameters (if any), as determined by the Compensation
Committee (an “Annual Bonus”).

 

5.            

NON-COMPETITION/SOLICITATION/CONFIDENTIALITY

 

During
your employment with the Company and for one year thereafter, you
shall not, either directly or indirectly, as an agent, employee,
partner, stockholder, director, investor or otherwise, engage in a
business that carries on a like business to the business conducted
by the Company, in the market areas in which the Company generates
sales.  You shall also abide by the Code of Ethics and other
corporate governance rules of the Company.  You shall disclose
prior to the execution of this Agreement (or later on as the case
may be) all business relationships you presently have or
contemplate entering into or enter into in the future that might
affect your responsibilities or loyalties to the
Company.

 

During
your employment with the Company and for one year thereafter, you
shall not, directly or indirectly, hire, offer to hire or otherwise
solicit the employment or services of, any employee of the Company
on behalf of yourself or any other person, firm or
entity.

 

Except
as may be required to perform your duties on behalf of the Company,
you agree that during your employment with the Company and for a
period of one year thereafter, you shall not, directly or
indirectly, solicit, service, or accept business from any customers
of the Company, on your own behalf or on behalf of any other
person, firm or entity that carries on a like business to the
business conducted by the Company.

 

Except
as required in your duties to the Company, you shall not at any
time during or after your employment, directly or indirectly, use
or disclose any confidential or proprietary information relating to
the Company or its business or customers which is disclosed to you
or known by you as a consequence of or through your employment by
the Company and which is not otherwise generally obtainable by the
public at large. Confidential or proprietary information includes,
but is not limited to, commercial relationships or contacts with
specific or existing vendors, contractors, suppliers or clients;
pricing information and methodology; compensation; customer lists;
customer data and information; mailing lists and prospective
customer information; financial and investment information;
management and marketing plans; business strategy, technique and
methodology; business models and data; processes and procedures;
and Company provided files, software, code, reports, documents,
manuals and forms used in the business which are treated as
confidential to the business entity, in whatever medium provided or
preserved, such as in writing or stored
electronically.

 

In the
event that any of the provisions in this Section 5 shall ever be
adjudicated to exceed limitations permitted by applicable law, you
agree that such provisions shall be modified and enforced to the
maximum extent permitted under applicable law.

 

You
understand and agree that the Company may not be adequately
compensated by damages for a breach by you of any of the covenants
and agreement contained in this Section 5, and that the Company
shall, in addition to all other remedies, be entitled to injunctive
relief and specific performance. You hereby affirmatively waive the
requirement that the Company post any bond. Nothing herein
contained will be construed as prohibiting the Company from
pursuing any other remedies available to it for such breach or
threatened breach, including the recovery of money damages, and if
the Company prevails, it shall also be entitled to the payment of
any and all reasonable fees, disbursements, and other charges of
the attorneys and collection agents, court costs, and all others
costs of enforcement. Likewise, if you prevail, you shall also be
entitled to the payment of any and all reasonable fees
disbursements and other charges of the attorneys and collections
agents, court costs, and all other costs of defense.

 

For
purposes of this Section 5, the term the “Company”
shall include all direct and indirectly owned subsidiaries of the
Company.

 

6.            

TERMINATION

 

You or
the Company may terminate your employment prior to the end of the
Term upon written notice to the other party in accordance with the
following provisions:

 

(a) 

Voluntary Termination. You may terminate
your employment voluntarily at any time during the Term by
providing the Company with 60 days prior written notice. If you do
so, except for Good Reason (as defined below), you shall be
entitled to receive from the Company your (i) accrued and unpaid
Base Salary through the date of termination, (ii) any Annual Bonus
earned for the year completed prior to the year of termination but
not yet paid, and (iii) any other employee benefits generally paid
by the Company up to the date of termination (collectively (i),
(ii), and (iii), the “Accrued
Obligations”).

 

 

2

 

   

(b) 

Death.  This Agreement shall
automatically terminate on the date of your death without further
obligation to you other than for payment by the Company to your
estate or designated beneficiaries, as designated in writing to the
Company, of (i) the Accrued Obligations through the last day of the
month in which your death occurs, and (ii) a pro-rata portion of
the Annual Bonus, if any, for the year of termination up to and
including the date of death which shall be determined in good faith
by the Compensation Committee. Your estate or beneficiaries, as
applicable, shall also be entitled to all other benefits generally
paid by the Company on an employee’s death.

 

(c) 

Disability.  This Agreement and your
employment shall terminate without any further obligation to you if
you become “totally disabled” (as defined below) other
than for payment by the Company of (i) the Accrued Obligations
though the last day of the month in which you are deemed to be
totally disabled and (ii) a pro-rata portion of the Annual Bonus,
if any, for the year of termination up to and including the date
you are deemed to be totally disabled as determined in good faith
by the Compensation Committee.

 

You
shall be deemed to be “totally disabled” if you are
unable, for any reason, to perform any of your duties and
obligations to the Company, with or without a reasonable
accommodation, for a period of 90 consecutive days or for periods
aggregating 120 days in any period of 180 consecutive
days.

 

(d) 

Cause.  The Company may terminate
your employment at any time for “Cause” (as defined
below) and this Agreement shall terminate immediately with no
further obligations to you other than the Company shall pay you,
within thirty days of such termination, the Accrued Obligations up
to the date of such termination for Cause.

 

(e) 

Termination by the Company Without Cause or by
you for Good Reason.  If, during the Term, the Company
terminates your employment without Cause or you terminate your
employment for Good Reason (as defined below), in either case,
other than within 18 months after a Change in Control (which is
covered by Subsection (f) below), you shall be entitled to receive
from the Company, subject to your continued compliance with the
restrictive covenants contained in Section 5 hereof and your
execution and non-revocation of a release of claims substantially
in the form attached hereto as Annex A, (i) the Accrued
Obligations payable within 15 days after the date of termination
(or, in the case of the prior year’s Annual Bonus, if any, at
such time such bonus is payable pursuant hereto), (ii) an
additional 12 months of your then current Base Salary, payable in
equal monthly installments beginning with the first payroll date
after the date on which the release of claims becomes effective and
can no longer be revoked, and (iii) a pro rata portion of the
Annual Bonus, if any, for the year of termination up to and
including the date of termination which shall be determined in good
faith by the Compensation Committee and paid at such time as such
bonus is payable pursuant hereto.

 

(f) 

Termination by the Company Without Cause or by
you for Good Reason within 18 Months After a Change in
Control. If, during the Term, the Company terminates your
employment without Cause or you terminate your employment for Good
Reason, in either such case, within 18 months after a Change in
Control (as defined below), you shall be entitled to receive from
the Company, subject to your continued compliance with the
restrictive covenants contained in Section 5 hereof and your
execution and non-revocation of a release of claims substantially
in the form attached hereto as Annex A, (i) the Accrued
Obligations payable within fifteen days after termination (or, in
the case of the prior year’s Annual Bonus, if any, at such
time such bonus is payable), (ii) a lump sum amount equal to 24
months of Base Salary in effect as of the date of termination of
employment or the year immediately prior to the Change in Control,
whichever is higher, and (iii) two times a target bonus amount, if
any, in effect as of the date of termination of employment. The
severance payments under sub-paragraphs (ii) and (iii) hereof shall
be paid with the first payroll date after the date on which the
release of claims becomes effective and can no longer be
revoked.

 

(g) 

Notwithstanding the
foregoing, if your severance payments payable hereunder constitute
nonqualified deferred compensation subject to 409A of the Code and
the period in which you must execute the release begins in one
calendar year and ends in another, the severance payments will be
made in the later calendar year.

 

(h) 

For purposes of
this Agreement:

 

(i)            

“Cause”
shall mean termination based upon: (A) your failure to
substantially perform your material duties and responsibilities
with the Company, after a written demand for such performance is
delivered to you by the Company, which identifies the manner in
which you have not performed your duties or responsibilities and a
cure period of 60 days, (ii) your commission of an act of fraud,
theft, misappropriation, dishonesty or embezzlement, (iii) your
conviction for a felony or pleading nolo contendere to a felony, (iv) your
willful and continuing failure or refusal to carry out, or comply
with, in any material respect any reasonable directive of the Chief
Executive Officer or the Board of Directors of the Company
consistent with the terms of this Agreement, or (v) your material
breach of any provision of this Agreement.

 

 

3

 

   

(ii)            

“Good
Reason” shall mean the occurrence of any of the following
events without your prior written consent:

 

(A)           

the failure of the
Company to pay your Base Salary or Annual Bonus, if any, when due
and if earned, other than an inadvertent administrative error or
failure, within 10 days of receipt of notice by you,

 

(B)           

a material
diminution in your authority or responsibilities from those
described herein,

 

(C)           

any material breach
of this Agreement by the Company, or

 

(D)           

a failure of the
Company to have any successor assume in writing the obligations
under this Agreement.

 

(iii)            

“Change in
Control” shall mean the occurrence of any of the following
events during the Term:

 

(A)           

any Person (which
for purposes of this Section 6(h)(iii) shall include natural
persons, partnerships, corporations and any other entities), or
more than one Person acting as a group (as the term
“group” is contemplated for purposes of Section 13(d)
of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”)) (“Group”), acquires
ownership of stock of the Company that, together with stock held by
such Person or Group, constitutes more than 50% of the total fair
market value and total voting power of the stock of the Company;
provided, however, that for purposes of this subsection (A), the
following acquisitions shall not be deemed to result in a Change in
Control: (1) any acquisition directly from the Company,
(2) any acquisition by the Company or an affiliate of the
Company, or (3) any acquisition by (x) any employee
benefit plan (or related trust) intended to be qualified under
Section 401(a) of the Code or (y) any trust
established in connection with any broad-based employee benefit
plan sponsored or maintained, in each case, by the Company or any
corporation controlled by the Company (collectively (1), (2) and
(3), the “Exempt Acquisitions”);

 

(B)           

any Person, or more
than one Person acting as a Group, acquires (or has acquired during
the 12-month period ending on the date of the most recent
acquisition) ownership of stock of the Company possessing 30% or
more of the total voting power of the Company’s stock;
provided, however, that none of the Exempt Acquisitions shall
constitute a Change in Control.

 

(C)           

individuals who, as
of the Effective Date, constitute the Board (the “Incumbent
Board”) cease for any reason to constitute at least a
majority of the Board; provided, however, that any individual
becoming a director subsequent to the Effective Date whose
election, or nomination for election by the Company’s
stockholders, was approved by a vote of at least a majority of the
directors then comprising the Incumbent Board shall be considered
as though such individual were a member of the Incumbent Board, but
excluding, as a member of the Incumbent Board, any such individual
whose initial assumption of office occurs as a result of either an
actual or threatened election contest or other actual or threatened
solicitation of proxies or consents by or on behalf of a Person or
group other than the Board; or

 

(D)           

a Person, or more
than one Person acting as a Group (other than a subsidiary or an
affiliate of the Company), acquires (or has acquired during the
12-month period ending on the date of the most recent acquisition)
assets of the Company that have a total gross fair market value
equal to or more than 50% of the total gross fair market value of
all assets of the Company immediately before such
acquisition(s).

 

Notwithstanding the
foregoing, a Change in Control shall not include any event,
circumstance or transaction that results from an action of any
Person or group which includes, is affiliated with or is wholly or
partly controlled by one or more executive officers of the Company
and in which you participate directly or actively (other than a
renegotiation of your employment arrangements or in your capacity
as an employee of the Company or any successor entity thereto or to
the business of the Company).

 

7.            

NOTICES

 

Any
notices required to be given under this Agreement shall, unless
otherwise agreed to by you and the Company, be in writing and by
certified mail, return receipt requested and mailed to the Company
at its offices at 202 Pride Lane SW, Decatur, Alabama 35603, or to
you at your home address at 147 Mayo Road, New Hope, AL 35760 or at
such other address as may be provided by the Company or
you.

 

 

4

 

 

8.            

ASSIGNMENT AND SUCCESSORS

 

The
rights and obligations of the Company under this Agreement shall
inure to the benefit of and shall be binding upon the successors of
the Company.  This Agreement may not be assigned by the
Company unless the assignee or successor (as the case may be)
expressly assumes the Company’s obligations hereunder in
writing.  In the event of a successor to the Company or the
assignment of the Agreement, the term “Company” as used
herein shall include any such successor or assignee.

 

10.            

WAIVER OR MODIFICATION

 

No
waiver or modification in whole or in part of this Agreement or any
term or condition hereof shall be effective against any party
unless in writing and duly signed by the party sought to be
bound.  Any waiver of any breach of any provision hereof or
right or power by any party on one occasion shall not be construed
as a waiver of or a bar to the exercise of such right or power on
any other occasion or as a waiver of any subsequent
breach.

 

10.            

SEPARABILITY

 

Any
provision of this Agreement which is unenforceable or invalid in
any respect in any jurisdiction shall be ineffective in such
jurisdiction to the extent that it is unenforceable or invalid
without effecting the remaining provisions hereof, which shall
continue in full force and effect.  The unenforceability or
invalidity of any provision of the Agreement in one jurisdiction
shall not invalidate or render unenforceable such provision in any
other jurisdiction.

 

11.            

GOVERNING LAW AND ARBITRATION

 

This
Agreement shall be interpreted and construed in accordance with the
laws of the State of New York without regard to its choice of law
principles.  Any dispute, controversy or claim of any kind
arising under, in connection with, or relating to this Agreement or
your employment with the Company shall be resolved exclusively by
binding arbitration.  Such arbitration shall be conducted in
New York City in accordance with the rules of the American
Arbitration Association (“AAA”) then in effect. 
The costs of the arbitration (fees to the AAA and for the
arbitrator(s)) shall be shared equally by the parties, subject to
apportionment or shifting in the arbitration award.  In
addition, the prevailing party in arbitration shall be entitled to
reimbursement by the other party for its reasonable
attorney’s fees incurred.  Judgment may be entered on
the arbitration award in any court of competent
jurisdiction.

 

12.            

ENTIRE AGREEMENT

 

This
Agreement and the Annex hereto constitutes the entire agreement
between the parties hereto with respect to the matters referred to
herein.

 

13.            

HEADINGS

 

The
headings contained in this Agreement are for convenience only and
shall not effect, restrict or modify the interpretation of this
Agreement.

  

----------SIGNATURES
ON NEXT PAGE----------

 

 

5

 

 

AGREED
AND
ACCEPTED:             
        

   

By:  

/s/ Allen Dillard

Allen
Dillard

 

Date:  

July 19,
2019

 

 

Lakeland
Industries, Inc.

 

By:  

/s/ Christopher J.
Ryan

          

Christopher J.
Ryan, CEO and President

 

Date:   

July 19,
2019

 

 

6Exhibit
10.1

 

EMPLOYMENT
AGREEMENT

 

This
Employment Agreement (the “Agreement”) is entered into and effective as of July 15, 2019 (the “Effective
Date”), by and between EVO Transportation & Energy Services, Inc. (the “Company”)
and Clifford Finkle IV (“Executive”).

 

1.
Duties and Scope of Employment.

 

(a)
Positions and Duties. During the Employment Term (as defined below), Executive will be employed as the Vice-President of Finkle
Transport, Inc. Executive’s authority, duties, and responsibilities will correspond to Executive’s position and will
include any particular authority, duties, and responsibilities reasonably consistent with the Executive’s position that
the Company may assign to Executive from time to time.

 

(b)
Obligations. During the Employment Term, Executive is required to diligently perform his assigned duties and to diligently observe
all of his obligations to the Company. Executive agrees to devote his full business time and efforts, energy and skill to his
employment at the Company, and Executive agrees to apply all his skill and experience to the performance of his duties and advancing
the Company’s interests. The foregoing shall not preclude Executive from (i) engaging in civic, charitable or religious
activities (including serving as a director, trustee or officer) or, with the prior written consent of the Company, from serving
on the boards of directors of other companies, or serving on the boards or holding the positions of other companies listed on
Exhibit B hereto or (ii) engaging in investments, including but not limited to real estate investments and acting as the
general partner or manager thereof, as long as such activities do not interfere or conflict with Executive’s responsibilities
to or his abilities to perform his duties hereunder. During the Employment Term, Executive may not perform services as an employee
or consultant of any Competing Business and Executive will not assist any Competing Business in competing with the Company or
in preparing to engage in competition with the business or proposed business of the Company. Executive shall comply with and be
bound by Company’s operating policies, procedures, and practices from time to time in effect during his employment that
apply to all executive-level employees of the Company. By signing this Agreement, Executive confirms to the Company that he has
no contractual commitments or other legal obligations that would prohibit him from performing his duties for the Company.

 

(c)
Employment Term. The term of this Agreement shall be four (4) years commencing on the Effective Date, unless terminated earlier
pursuant to the terms herein (the “Initial Term”). Unless earlier terminated pursuant to the terms herein,
the Initial Term shall be automatically renewed for consecutive additional one-year terms (each, a “Renewal Term”)
upon the expiration of the Initial Term or any Renewal Term unless the Company or Executive delivers to the other at least 90
days prior to the expiration of the Initial Term or the then-current Renewal Term, as the case may be, a written notice specifying
that the term of Executive’s employment will not be renewed at the end of the Initial Term or the then-current Renewal Term,
as the case may be. Like the Initial Term, the then-current Renewal Term is subject to earlier termination pursuant to the terms
herein. The Executive’s period of employment hereunder is referred herein as the “Employment Term,”
whether the Initial Term, the then-current Renewal Term, or the shorter period through the date of an earlier termination thereof
as provided elsewhere herein. The notice of non-renewal given by the Company is referred to herein as the “Company’s
Non-Renewal.” The notice of non-renewal given by Executive is referred to herein as the Executive’s
Non-Renewal.”

 

     

     

    

 

(d)
Place of Performance. Executive will initially primarily report to the principal office of Finkle Trucking, an Affiliate of the
Company which is currently located in the Newark, New Jersey area. Executive understands and agrees that his duties will include
reasonable travel, including but not limited to travel to offices of the Company, its Affiliates, and such other business travel
as is reasonably necessary and appropriate to the performance of Executive’s duties hereunder, subject to reimbursement
of expenses pursuant to Section 6 below.

 

2.
At-Will Employment. The parties agree that Executive’s employment with the Company will be “at-will” employment
and may be terminated at any time, upon at least 30 days’ prior written notice, either by the Company without Cause (in
any such case, “Company’s At-Will Termination”) or by Executive without Good Reason (in any such
case, “Executive’s At-Will Termination”). Executive understands and agrees that neither his job
performance for, nor promotions, commendations, bonuses or the like from, the Company give rise to or in any way serve as the
basis for modification, amendment, or extension, by implication or otherwise, of his employment with the Company. However, as
described in this Agreement, Executive may be entitled to Severance Pay (defined below) and Severance Benefits (defined below)
depending upon the circumstances of the termination of the Employment Term as set forth in Section 7(b) below.

 

3.
Compensation.

 

(a)
Initial Base Salary. During the Employment Term, the Company will pay Executive an annual base salary as compensation for his
services (the “Base Salary”) at the initial rate of $225,000. The Base Salary will be paid periodically
in accordance with the Company’s normal payroll practices. The Base Salary will be subject to review and adjustments will
be made based upon the Company’s standard practices.

 

(b)
Annual Incentive Bonus. During the Employment Term, Executive will be eligible to earn an annual incentive bonus (an “Annual
Bonus”) under the same or substantially same bonus arrangement, plan or program as in effect for other executive-level
employees of the Company from time to time and based upon the same general objective standards as are applied to the other executive-level
employees of Company, provided that Executive’s personal performance objectives shall be unique to his role as Vice-President
of Finkle Transport, Inc. Consistent therewith, the Board of Directors of the Company (the “Board”)
(or a committee of the Board, if applicable) will determine Executive’s target bonus opportunity and the criteria for earning
such bonus, as well as Executive’s achievement of such criteria, and the amount of the Annual Bonus earned and payable to
Executive for such year. Any Annual Bonus that is earned and becomes payable pursuant to this Section 3(b) will be paid no later
than March 15 of the calendar year immediately following the calendar year to which the Annual Bonus relates. Executive’s
Annual Bonus for calendar year 2019 shall be prorated on a weekly basis for his period of employment in such year. Executive must
remain employed by the Company through December 31 of the applicable calendar year to be eligible to earn an Annual Bonus for
such year; provided, however, that if the Employment Term ends prior to December 31 by reason of either termination by Executive
for Good Reason or by the Company’s At-Will Termination, the Annual Bonus for such partial calendar year shall be prorated
on a weekly basis for his period of employment in such year. The determinations of the Board (or a committee thereof) with respect
to the Annual Bonus will be final and binding unless there is direct evidence that the determination was in violation of the terms
and provision of this Section 3(b) or the applicable program, plan or arrangement.

 

    2

     

    

 

(c)
Equity. During the Employment Term, Executive will be eligible to receive awards of stock options pursuant to the same or substantially
same stock option arrangement, plan or program as in effect for other executive-level employees of the Company from time to time
and based upon the same objective standards as are applied to the other executive-level employees of Company. Consistent therewith,
the Board (or a committee of the Board, if applicable) will determine whether Executive will be granted any such equity awards
and the terms of any such award in accordance with the terms of the applicable program, plan or arrangement that may be in effect
from time to time.

 

4.
Employee Benefits. During the Employment Term, Executive will be entitled to participate in the employee benefit plans and programs
currently and hereafter maintained by the Company or its applicable Affiliate of general applicability to other executive-level
employees and to employees generally of the Company, subject to eligibility requirements and the applicable terms and conditions
of the subject plan or program and the determination of any committee uniformly administering such plan or program. The Company
reserves the right to cancel or change the benefit plans and programs it offers to its employees at any time. In addition, the
Company will cause Executive to be covered by a directors and officers liability insurance policy in an amount and scope of coverage
customary for the size and industry of the Company’s business (but in no event less than $2,000,000) commencing on the date
of this Agreement.

 

5.
Vacation. During the Employment Term, Executive will be entitled to paid vacation of not less than 20 days per calendar year,
prorated for any partial calendar year of employment, in accordance with the Company’s standard vacation policy (including,
without limitation, its policy on the maximum accrual, carry-over and payout), with the timing and duration of specific vacations
mutually and reasonably agreed to by Executive and the Company.

 

6.
Expenses. During the Employment Term, the Company will reimburse Executive for reasonable travel, lodging, meal, entertainment
or other expenses incurred by Executive in the furtherance of or in connection with the performance of Executive’s duties
hereunder, in accordance with the Company’s expense reimbursement policy as in effect from time to time.

 

7.
Accrued Obligations; Severance; COBRA.

 

(a)
Accrued Obligations. Upon the termination or expiration of the Employment Term for any reason, Company shall pay to Executive
the following: (i) all unpaid Base Salary through the last day of the Employment Term; (ii) all unreimbursed expenses that otherwise
are payable to Executive pursuant to Section 6 above, and (iii) all other accrued payments or benefits to which Executive is entitled
and has earned under the terms of any applicable compensation, bonus, award or similar arrangement, plan or program, subject to
Section 3(b) with respect to bonus accrual and eligibility (collectively, the “Accrued Obligations”).
The Accrued Obligations shall be paid to Executive in a lump sum in cash within thirty (30) days following the termination or
expiration of the Employment Term, unless otherwise required by law or the terms of the applicable arrangement, plan or program,
in which case the same shall be paid as soon as required thereunder.

 

    3

     

    

 

(b)
Severance. If the Employment Term ends by reason of either termination by Executive for Good Reason or by the Company’s
At-Will Termination, the Company shall pay to Executive the greater of (as applicable, “Severance Pay”)
(i) an amount equal to the product of (A) the number of full or partial months, if any, in the period beginning on the date the
Employment Term ended and ending on the date the Initial Term would have ended, if later than the date the Employment Term actually
ended, multiplied by (B) Executive’s monthly Base Salary (as in effect immediately prior to the termination date)
or (ii) an amount equal to one-half of Executive’s annual Base Salary (as in effect immediately prior to the termination
date). The Severance Pay shall be paid by the Company to Executive in substantially equal monthly installments over a number of
months equal to (x) if clause (i) above is applicable, the number of months determined under clause (A) and (y) if clause (ii)
above is applicable, twelve (12) months, without reduction or set off (other than as provided in Section 11(a) below), in accordance
with the Company’s standard payroll procedures, provided that the revocation period(s) referred to in the Release Agreement
set forth in Section 8(a) below have expired without revocation. If the Employment Terms ends by reason of termination by the
Company for Cause, by the Company’s Non-Renewal or Executive’s Non-Renewal of the Initial Term or any Renewal Term,
by Executive’s At-Will Termination, or due to Executive’s death or disability, no Severance Pay will be owing or paid
to Executive.

 

(c)
COBRA. If the Employment Term ends by reason of either termination by Executive for Good Reason or by the Company’s At-Will
Termination, to the extent Executive and Executive’s spouse and/or dependent children properly (and timely) elect COBRA
continuation coverage under the Company’s group health insurance plan, the Company shall pay, on Executive’s behalf,
all of the premiums due for such coverage for a period beginning on the date the Employment Term so ended and ending on the earliest
to occur of (as applicable, “Severance Benefits”) (i) the date on which Executive is no longer entitled
to COBRA continuation coverage under the Company’s group health insurance plan, (ii) the last day of the month that includes
or immediately precedes the first day that Executive is covered under another employer’s group health insurance plan or
(iii) the last day of the month in which Executive receives his final Severance Pay payment; provided, however, that notwithstanding
the foregoing or any other provision in this Agreement to the contrary, the Company may unilaterally amend this Section 7(c) or
eliminate the benefit provided hereunder, upon written notice to Executive, but only if and to the extent necessary to avoid the
imposition of excise taxes, penalties or similar charges on the Company, including, without limitation, under Code Section 4980D.
If the Employment Term ends by reason of termination by the Company for Cause, by the Company’s Non-Renewal or Executive’s
Non-Renewal of the Initial Term or any Renewal Term, by Executive’s At-Will Termination, or due to Executive’s death
or disability, no Severance Benefits will be owing to Executive.

 

    4

     

    

 

8.
Conditions to Receipt of Severance Pay and Severance Benefits.

 

(a)
Release of Claims. The receipt of Severance Pay and Severance Benefits will be subject to Executive signing, delivering, not revoking
and complying with a general release and waiver of claims in favor of the Company and its officers, directors and affiliates in
substantially the form attached hereto as Exhibit A.

 

(b)
Compliance with Covenants. The receipt of Severance Pay and Severance Benefits will be subject to Executive’s compliance
with Sections 9(a), 9(b), 9(c) and 9(d) of this Agreement. In the event Executive breaches any of Sections 9(a), 9(b), 9(c) or
9(d), (i) all remaining payments of Severance Pay and/or Severance Benefits to which Executive otherwise is entitled pursuant
to Section 7(b) and Section 7(c) will immediately cease, and (ii) Executive will repay, or cause to be repaid, to the Company
the full amount of any payments of Severance Pay and Severance Benefits previously paid by the Company to Executive or on behalf
of Executive pursuant to Section 7(b) and/or Section 7(c) prior to the date of such breach.

 

9.
Restrictive Covenants.

 

(a)
Non-Competition. In recognition of the consideration provided herein, and in connection with the protection of the Company’s
trade secrets and customer contacts, Executive agrees that, during the Employment Term and ending on the later to occur of (i)
the twelve (12) month anniversary following the termination or expiration of the Employment Term or (ii) the last day of the Severance
Pay period as set forth in Section 7(b) (as applicable, the “Restricted Period”), Executive shall not
either directly or indirectly, whether for consideration or otherwise: (i) engage in (except on behalf of the Company or any of
its Affiliates), or compete with the Company or any of its Affiliates in, a Competing Business anywhere in the Territory (any
such entity, a “Competing Entity”); or (ii) form or assist others in forming, be employed by, perform
services for, become an officer, director, member or partner of, or participant in, or consultant or independent contractor to,
invest in or own any interest in (whether through equity or debt securities), assist (financially or otherwise) or lend Executive’s
name, counsel or assistance to, any Competing Entity.

 

(b)
Non-Solicitation. In recognition of the consideration provided herein, Executive agrees that, during the Restricted Period, Executive
shall not either directly or indirectly, whether for consideration or otherwise: (i) solicit or accept business from any customer
of the Company for the purpose of providing goods or services in a Competing Business or solicit or induce any customer of the
Company to terminate, reduce or alter in a manner adverse to the Company, any existing business arrangement or agreement with
the Company, (ii) be employed by any customer of the Company or (iii) solicit, hire, attempt to solicit or attempt to hire any
person who is or was an employee of the Company or any of its Affiliates at any time during the twelve (12) months prior to such
solicitation or hire. The restrictions set forth in this Section 9(b) shall not prohibit any form of general advertising or solicitation
that is not directed at a specific person or entity or does not relate to a Competing Business.

 

    5

     

    

 

(c)
Non-Disclosure and Non-Use of Confidential Information. At all times both during the Employment Term and for five (5) years thereafter
(except with regard to trade secrets, for so long as such information remains a trade secret), Executive agrees that he will not,
either directly or indirectly, (i) divulge, use, disclose (in any way or in any manner, including by posting on the Internet),
reproduce, distribute, or reverse engineer or otherwise provide Confidential Information to any person, firm, corporation, reporter,
author, producer or similar person or entity; (ii) take any action that would make available Confidential Information to the general
public in any form; (iii) take any action that uses Confidential Information to solicit any customer of the Company or prospective
customer (with whom the Company has had a substantive discussion on it becoming a customer of the Company within the immediately
preceding twelve (12) months) in violation of Section 9(b); or (iv) take any action that uses Confidential Information for solicitation
of, or marketing for, any service or product on Executive’s behalf or on behalf of any entity other than the Company or
its Affiliates with which Executive was in fact associated, except (as to the foregoing clauses (i) through and including (iv)
above) (A) as required in connection with the performance of such Executive’s duties to the Company or any of its Affiliates,
(B) as required to be included in any report, statement or testimony requested by any municipal, state or national regulatory
body having jurisdiction over Executive, (C) as required in response to any summons or subpoena or in connection with any litigation,
(D) to the extent necessary in order to comply with any law, order, regulation, ruling or governmental request applicable to Executive,
(E) as required in connection with an audit by any taxing authority, or (F) as permitted by the express written consent of the
Company.

 

(i)
In the event Executive is required to disclose Confidential Information pursuant to any of the foregoing exceptions, Executive
shall promptly notify the Company of such pending disclosure and assist the Company (at the Company’s sole expense, which
will be advanced to Executive whenever reasonable to do so) in seeking a protective order or in objecting to such request, summons
or subpoena with regard to the Confidential Information. If the Company does not obtain such relief prior to the time that Executive
is required to disclose such Confidential Information, Executive may disclose that portion of the Confidential Information (A)
which counsel to Executive advises Executive that he is required to disclose or (B) which could subject Executive to be liable
for contempt or suffer censure or penalty. In such cases, Executive shall promptly provide the Company with a copy of the Confidential
Information so disclosed. This provision applies without limitation to unauthorized use of Confidential Information in any medium,
including film, videotape, audiotape and writings of any kind (including books, articles, emails, texts, blogs and websites).

 

(ii)
Executive is hereby notified, pursuant to the federal Defend Trade Secrets Act of 2016 (“DTSA”), that
an individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of
a trade secret that is made (A) in confidence to a federal, state, or local government official, either directly or indirectly,
or to an attorney, and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (C) where the
disclosure of a trade secret is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is
made under seal. In addition, Executive is hereby notified under the DTSA that, if an individual files a lawsuit for retaliation
by an employer for reporting a suspected violation of law, the individual may disclose a trade secret to his or her attorney and
use the trade secret information in the court proceeding if the individual (Y) files any document containing the trade secret
under seal; and (Z) does not disclose the trade secret, except pursuant to court order.

 

    6

     

    

 

(d)
Inventions and Patents; Third Party Information. The results and proceeds of Executive’s services to the Company (during
the Employment Term), including, without limitation, any works of authorship related to the Company resulting from Executive’s
services during Executive’s employment with the Company and any works in progress will be works-made-for-hire. The Company
will be deemed the sole owner throughout the universe of such works-made-for-hire and any and all rights of whatsoever nature
therein, whether or not now or hereafter known, existing, contemplated, recognized or developed, with the right to use the same
in perpetuity in any manner the Company determines in its sole discretion without any further payment to Executive whatsoever.
If, for any reason, any of such results and proceeds will not legally be a work-made-for-hire or there are any rights which do
not accrue to the Company under the preceding sentence, then Executive hereby irrevocably assigns and agrees to assign to the
Company any and all of Executive’s right, title and interest thereto, including, without limitation, any and all copyrights,
patents, trade secrets, trademarks and/or other rights of whatsoever nature therein, whether or not now or hereafter known, existing,
contemplated, recognized or developed. The Company will have the right to use the same in perpetuity throughout the universe in
any manner the Company determines without any further payment to Executive whatsoever. Executive will, from time to time, as may
be reasonably requested by the Company, and at the Company’s sole expense, sign such documents and assist the Company to
establish or document the Company’s exclusive ownership of any and all rights in any such results and proceeds, including,
without limitation, the execution of appropriate copyright or patent applications or assignments. To the extent Executive has
any rights in any such results and proceeds that cannot be assigned in the manner described above, Executive unconditionally and
irrevocably waives the right to enforce such unassignable rights. This Section 9(d) is subject to, and will not be deemed to limit,
restrict or constitute any waiver by the Company of, any rights of ownership to which the Company may be entitled by operation
of law by virtue of the Company being Executive’s employer. This Agreement does not apply to an invention or other works
of authorship for which no equipment, supplies, facility or trade secret information of the Company was used and which was developed
entirely on Executive’s own time, and (i) which does not relate (A) directly to the business of the Company or (B) to the
Company’s actual or demonstrably anticipated research or development, or (ii) which does not result from any work performed
by Executive for the Company hereunder.

 

(e)
Enforcement; Remedies. Executive acknowledges that the covenants set forth in Sections 9(a), 9(b), 9(c) and 9(d) impose a reasonable
restraint on Executive in light of the business and activities of the Company and its Affiliates. Executive acknowledges that
a breach of Sections 9(a), 9(b), 9(c) or 9(d) by Executive will cause serious and potentially irreparable harm to the Company
and its Affiliates. Executive therefore acknowledges that a breach of Sections 9(a), 9(b), 9(c) or 9(d) by Executive cannot be
adequately compensated in an action for damages at law, and equitable relief would be necessary to protect the Company and its
Affiliates from a violation of this Agreement and from the harm which this Agreement is intended to prevent. By reason thereof,
Executive acknowledges that the Company is entitled, in addition to any other remedies it may have under this Agreement or otherwise,
to preliminary and permanent injunctive and other equitable relief to prevent or curtail any breach or threatened breach of this
Agreement. Executive acknowledges, however, that no specification in this Agreement of a specific legal or equitable remedy may
be construed as a waiver of or prohibition against pursuing other legal or equitable remedies in the event of a breach of this
Agreement by Executive. If Executive breaches this Section 9 as determined by a court of competent jurisdiction, Executive shall
pay the reasonable attorneys’ fees and costs incurred by the Company in connection with enforcing its rights under this
Agreement.

 

    7

     

    

 

(f)
Modification. In the event that any provision or term of this Sections 9(a), 9(b), 9(c) or 9(d), or any word, phrase, clause,
sentence or other portion thereof (including, without limitation, the geographic and temporal restrictions and provisions contained
in Sections 9(a) or 9(b)) is held to be unenforceable or invalid for any reason, such provision or portion thereof will be modified
or deleted in such a manner as to be effective for the maximum period of time, the maximum geographical area, and otherwise to
the maximum extent as to which it may be enforceable under applicable law. Such modified restriction(s) shall be enforced by a
court having jurisdiction. In the event that such modification is not possible, because each of Executive’s obligations
in Sections 9(a), 9(b), 9(c) and 9(d) is a separate and independent covenant, any unenforceable obligation shall be severed and
all remaining obligations shall be enforceable.

 

10.
Definitions. For purposes of this Agreement, the following defined terms have the following meanings:

 

(a)
“Affiliate” means, with respect to the Company, any corporation, limited liability company, partnership,
business trust or organization, or other entity directly or indirectly controlling, controlled by or under common control with
the Company, where control means holding more than 50% of both the voting interests of the entity and the authority to direct
the management and policies of the entity.

 

(b)
“Cause” means any of the following: (i) Executive’s conviction of, or plea of guilty or nolo contendere
to, a misdemeanor involving dishonesty, wrongful taking of property, immoral conduct, bribery or extortion or any felony; (ii)
willful material misconduct by Executive in connection with the business of the Company and its Affiliates; (iii) Executive’s
continued and willful failure to perform substantially his responsibilities to the Company under this Agreement; (iv) Executive’s
material breach of this Agreement; (v) Executive’s fraud, theft or material dishonesty against the Company, its Affiliates
or its customers; (vi) Executive’s willful and material breach of the Company’s written code of conduct and business
ethics or other material written policy, procedure or guideline in effect from time to time and applicable to the Company’s
employees generally relating to personal conduct; or (vii) Executive’s willful attempt to obstruct or willful failure to
cooperate when with any investigation authorized by the Board or any governmental or self-regulatory entity. Any determination
of Cause by the Company shall be made by a resolution approved by a majority of the members of the Board, provided that with respect
to Sections 10(a)(ii), 10(a)(iii), 10(a)(iv), 10(a)(vi) and 10(a)(vii) and notwithstanding any other provision of this Agreement
to the contrary, Company shall not terminate the Employment Term for Cause unless (x) the Company notifies Executive in writing
of such determination within ninety (90) days following the Company’s first knowledge of the existence thereof (which notice
specifically identifies the reasons and details therefore), (y) Executive fails to remedy the same within thirty (30) days after
the date on which he received such notice (the “Remedial Period”), and (z) the Company terminates the
Employment Term for Cause within thirty (30) days after the end of the Remedial Period.

 

    8

     

    

 

(c)
“Code” means the Internal Revenue Code of 1986, as amended.

 

(d)
“Competing Business” means a business that is engaged in providing freight trucking services, or any
other business in which the Company or any of its Subsidiaries is then-currently engaged or was engaged at any time in the twelve
(12) month period prior to Executive’s last day of employment with the Company (provided such other business is reasonably
related to freight trucking services), or a business that is engaged in the acquisition or operation of compressed natural gas
fueling stations. Notwithstanding the foregoing, Competing Business specifically excludes ADF Freight, Inc., a corporation organized
under the laws of the state of New Jersey and owned by Alexis Finkle (“ADF Freight”); provided that
ADF Freight shall not be permitted to bid for, or provide, any freight trucking services to the U.S. Postal Service.

 

(e)
“Confidential Information” means confidential or proprietary information and/or techniques of the Company
or its Affiliates entrusted to, developed by, or made available by the Company or any of its Affiliates to Executive during the
Employment Term, whether in writing, in computer form, reduced to a tangible form in any medium, or conveyed orally, that is not
generally known by others in the form in which it is or was used by the Company or its Affiliates. Examples of Confidential Information
include, without limitation: (i) sales, sales volume, sales methods, sales proposals, business plans or statements of work; (ii)
customers of the Company, prospective customer (with whom the Company has had a substantive discussion on it becoming a customer
of the Company within the immediately preceding twelve (12) months), and customer records, including contact and preference information;
(iii) costs of goods or services charged by vendors and suppliers to the Company; (iii) prices charged to specific customers and
non-public general price lists and similar pricing information; (iv) terms of contracts with customer; (vii) non- public information
and materials describing or relating to the financial condition and affairs of the Company or its Affiliates, including but not
limited to, financial statements, budgets, projections financial and/or investment performance information, research reports,
personnel matters, products, services, operating procedures, organizational responsibilities and marketing matters, policies or
procedures; (viii) non-public information and materials describing existing or new processes, products and services of the Company
or its Affiliates, including marketing materials, analytical data and techniques, and product, service or marketing concepts under
development, and the status of such development; (ix) the business or strategic plans of the Company or its Affiliates; (x) the
information technology systems, network designs, computer program code, and application practices of the Company or its Affiliates;
(xi) acquisition candidates of the Company or its Affiliates or any studies or assessments relating thereto; and (xii) trade secrets.
In addition and notwithstanding the foregoing, Confidential Information does not include either (y) information that, other than
as a result of a breach by Executive of this Agreement, is or becomes generally known to and available for use by the public and
(z) information that is, at any time, either on the Company’s website or is in brochures, advertising and other materials
furnished or provided to customers of the Company and prospective customer (with whom the Company has had a substantive discussion
on it becoming a customer of the Company within the immediately preceding twelve (12) months).

 

    9

     

    

 

(f)
“Disability” means Executive’s inability to perform one or more essential functions of his position,
after taking into account reasonable accommodations, by reason of any medically diagnosed physical or mental impairment and such
inability continues for a period of at least six (6) months in any twelve (12) month period. A determination of such Disability
will be made by a physician reasonably acceptable to the Company and Executive (or, if applicable, his spouse or legal representative).

 

(g)
“Good Reason” means the occurrence of any of the following events, without the written consent of Executive:

 

(i)
any reduction in Executive’s Base Salary (as it may have been increased after the Effective Date), except by no more than
ten percent (10%) as part of an across the board salary reduction uniformly applied to all executive-level employees of the Company;

 

(ii)
any material reduction in Executive’s authority, duties or responsibilities or the assignment to Executive of any duties
that are inconsistent with his position or;

 

(iii)
any relocation of Employee’s place of employment with the Company to a location greater than twenty-five miles from the
location specified in Section 1(d); or

 

(iv)
any other action or inaction that constitutes a material breach by the Company of this Agreement or any other agreement under
which Executive provides services to the Company or any of its Affiliates.

 

Notwithstanding
any other provision of this Agreement to the contrary, Executive shall not terminate the Employment Term for Good Reason unless
(A) Executive notifies the Company in writing of the condition that Executive believes constitutes Good Reason within ninety (90)
days following the Executive’s first knowledge of the existence thereof (which notice specifically identifies such condition
and the details regarding its existence), (ii) the Company fails to remedy such condition within thirty (30) days after the date
on which it receives such notice (the “Remedial Period”), and (iii) Executive terminates the Employment
Term within thirty (30) days after the end of the Remedial Period for Good Reason.

 

(h)
“Section 409A” means Section 409A of the Code and the Treasury Regulations issued thereunder.

 

(i)
“Territory” means any State in the United States in which the Company and its Affiliates then-currently
conduct their business or have conducted their business at any time in the prior twelve (12) months.

 

11.
Tax Matters

 

Withholding.
All payments made pursuant to this Agreement will be

 

(a)
subject to withholding of taxes as required by applicable law.

 

    10

     

    

 

(b)
Responsibility. Notwithstanding anything to the contrary herein, the Company makes no representations or warranties to Executive
with respect to any tax, economic or legal consequences of this Agreement or any payments or other benefits provided hereunder,
including without limitation under Section 409A, and no provision of the Agreement shall be interpreted or construed to transfer
any liability for failure to comply with Section 409A or any other legal requirement from Executive or any other individual to
the Company or any of its Affiliates, except as provided below. Executive, by executing this Agreement, shall be deemed to have
waived any claim against the Company and its Affiliates with respect to any such tax, economic or legal consequences; provided,
however, if any amount payable pursuant to this Agreement is included in Executive’s gross income under Section 409A(a)(1)(A)
of the Code, then (i) Executive shall be responsible for the payment of the income taxes imposed on such payment and the amount
of interest under Section 409A(a)(1)(B)(i)(I) of the Code and (ii) the Company shall be responsible for the payment of the amount
due under Section 409A(a)(1)(B)(i)(II) of the Code within 30 days after such time as a final determination is made that such amount
is due and payable by Executive (whether by an agreed assessment, a decision upon administrative appeal, or a decision by a court
having jurisdiction). The parties intend that the payment under the preceding clause (ii) will comply with Treasury Regulation
Sections 1.409A-3(i)(1)(i), 1.409A-3(i)(1)(v) and 1.409A-3(i)(1)(v).

 

(c)
Section 409A. The parties intend that this Agreement and the payments and other benefits provided hereunder be exempt from the
requirements of Section 409A to the maximum extent possible, whether pursuant to the short-term deferral exception described in
Treasury Regulations Section 1.409A-1(b)(4), the involuntary separation pay plan exception described in Treasury Regulations Section
1.409A-1(b)(9)(iii), or otherwise. To the extent Section 409A is applicable to this Agreement and any such payments and benefits,
the parties intend that this Agreement and such payments and benefits comply with the deferral, payout and other limitations and
restrictions imposed under Section 409A. Notwithstanding any other provision of this Agreement to the contrary, this Agreement
shall be interpreted, operated and administered in a manner consistent with such intentions. Without limiting the generality of
the foregoing, and notwithstanding any other provision of this Agreement to the contrary:

 

(i)
if at the time Executive’s employment hereunder terminates, Executive is a “specified employee,” as defined
in Treasury Regulations Section 1.409A-1(i) and determined using the identification methodology selected by the Company from time
to time, or if none, the default methodology, then to the extent necessary to avoid subjecting Executive to the imposition of
any additional tax under Section 409A, any and all amounts payable under this Agreement on account of such termination of employment
that would (but for this provision) be payable within six (6) months following the date of termination, shall instead be paid
in a lump sum on the first day of the seventh month following the date on which Executive’s employment terminates or, if
earlier, upon Executive’s death;

 

(ii)
a termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for
the payment of amounts or benefits upon or following a termination of employment unless such termination is also a “separation
from service,” as defined in Treasury Regulations Section 1.409A-1(h) after giving effect to the presumptions contained
therein, and, for purposes of any such provision of this Agreement, references to “terminate,” “termination,”
“termination of employment” and like terms shall mean separation from service;

 

    11

     

    

 

(iii)
each payment made under this Agreement shall be treated as a separate payment and the right to a series of installment payments
under this Agreement shall be treated as a right to a series of separate payments; and

 

(iv)
with regard to any provision in this Agreement that provides for reimbursement of expenses or in-kind benefits, except for any
expense, reimbursement or in-kind benefit provided pursuant to this Agreement that does not constitute a “deferral of compensation,”
within the meaning of Treasury Regulations Section 1.409A-1(b), (A) the right to reimbursement or in-kind benefits shall not be
subject to liquidation or exchange for another benefit, (B) the amount of expenses eligible for reimbursement, or in-kind benefits
provided, during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided,
in any other taxable year, and (C) such payments shall be made no later than two and a half months after the end of the calendar
year in which the expenses were incurred.

 

12.
Assignment. This Agreement and Executive’s rights under this Agreement are personal to Executive and shall not be assignable
by Executive. The Company may, by written notice to Executive, assign this Agreement to any affiliated or successor to all or
substantially all of the business and assets the Company and then only so long as such affiliate or successor assumes and agrees,
in such form and substance as is reasonably satisfactory to Executive, to perform all of the Company’s duties, responsibilities,
obligations and liabilities hereunder, including without limitation upon the termination of the Employment Term; provided, however,
the termination of Executive’s employment hereunder by such affiliate or successor and the immediate hiring and continuation
of Executive’s employment by such affiliate or successor upon the identical terms and provisions of this Agreement shall
not be deemed to constitute a termination of the Employment Term. All of the terms and provisions of this Agreement shall be binding
upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors and permitted assigns.

 

13.
Notices. All notices, requests, demands and other communications called for hereunder will be in writing and will be deemed given
(a) on the date of delivery if delivered personally, (b) one (1) day after being sent by a reputable commercial overnight service,
or (c) four (4) days after being mailed by registered or certified mail, return receipt requested, prepaid and addressed to the
parties or their successors at the following addresses, or at such other addresses as the parties may later designate in writing:

 

If
to the Company:

 

EVO
Transportation & Energy Services, Inc.

 

8285
West Lake Pleasant Parkway

Peoria, AZ 85382

Attention: John P. Yeros

 

    12

     

    

 

If
to Executive, to him at:

 

1230
McCarter Hwy.

Newark,
NJ 07104

Email:
cfinkle@finkletrucking.com

 

14.
Severability. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal,
unenforceable or void, this Agreement will continue in full force and effect without said provision.

 

15.
Integration. This Agreement represents the entire agreement and understanding between the parties as to the subject matter herein
and supersedes all prior or contemporaneous agreements whether written or oral. No waiver, alteration or modification of any of
the provisions of this Agreement will be binding unless in writing that specifically refers to this Agreement and is signed by
Executive and a duly authorized representative of the Company.

 

16.
Waiver of Breach. The waiver of a breach of any term or provision of this Agreement must be in writing and will not operate as
or be construed to be a waiver of any other previous or subsequent breach of this Agreement.

 

17.
Headings. All captions and section headings used in this Agreement are for convenient reference only and do not form a part of
this Agreement.

 

18.
Governing Law. This Agreement will be construed and interpreted in accordance with, and any dispute or controversy arising from
any breach or asserted breach of this Agreement will be governed by, the laws of the State of New Jersey without regard to any
choice of law rules. Any action brought to enforce or interpret this Agreement must be brought in the state or federal courts
for the State of New Jersey, and the parties hereby consent to the jurisdiction and venue of such courts in the event of any dispute.
Each of the parties knowingly and voluntarily waives all right to trial by jury in any action or proceeding arising out of or
relating to this Agreement, Executive’s employment by the Company, or for recognition or enforcement of any judgment.

 

19.
Acknowledgment. Executive acknowledges that he has had the opportunity to discuss this Agreement with and obtain advice from his
private attorney, has had sufficient time to, and has carefully read and fully understands all the provisions of this Agreement,
and is knowingly and voluntarily entering into this Agreement.

 

20.
Counterparts. This Agreement may be executed in counterparts, and may delivered personally or by facsimile or electronic transmission,
and each counterpart will have the same force and effect as an original and will constitute an effective, binding agreement on
the part of each of the undersigned parties.

 

{Signature
Page Follows}

 

    13

     

    

 

IN
WITNESS WHEREOF, each of the parties has executed this Employment Agreement, in the case of the Company by its duly authorized
officer, as of the Effective Date in the preamble hereof.

 

	COMPANY:	 
	EVO
    Transportation & Energy Services, Inc. 	 
	 	 
	By:	 /s/ Damon Cuzick	 
	Name:
    Damon Cuzick	 
	Title:
    President  	 
	Date:
    July 15, 2019	 
	 	 
	EXECUTIVE:
    	 
	 	 
	By: 	/s/ Clifford Finkle IV	 
	Name:
    Clifford Finkle IV 	 
	Date:
    July 15, 2019	 

 

     

     

    

 

Exhibit
A

 

Form
of Release

 

[Date]

 

[Via
_____________]

Personal
and Confidential

 

		Executive	

[Executive
Address]

 

		Re:	Separation
Agreement and Release

 

Dear
Executive:

 

As
you know, your employment with EVO Transportation & Energy Services, Inc. (the “Company”) ended effective at the
close of business on [Date] pursuant to Section 2 of your Executive Employment Agreement with the Company dated July 1, 2019 (the
“Employment Agreement”). The purpose of this Separation Agreement and Release letter (“Agreement”) is
to set forth the specific separation pay and benefits that the Company will provide you as set forth in Section 2 of your Employment
Agreement in exchange for your agreement to the terms and conditions of this Agreement. Capitalized terms used but not defined
in this Agreement have the meanings assigned to them in the Employment Agreement.

 

By
your signature below, you agree to the following terms and conditions:

 

1.
End of Employment. Your employment with the Company ended effective at the close of business on [Date]. Upon your receipt
of your final paycheck, which includes payment for services through [Date], you will have received all wages, compensation
and benefits owed to you by virtue of your employment with the Company or termination thereof, except for those expressly
described in this Agreement. If applicable, information regarding your right to elect COBRA coverage will be sent to you via
separate letter.

 

You
are not eligible for any other payments or benefits by virtue of your employment with the Company or termination thereof except
for those expressly described in this Agreement. You will not receive the separation pay and benefits described in Section 2 of
this Agreement if you (i) do not sign this Agreement and return it to the Company by the Offer Expiration, (ii) rescind this Agreement
after signing it, or (iii) violate any of the terms and conditions set forth in this Agreement.

 

2. Separation
Pay and Benefits. Specifically in consideration of your signing this Agreement and subject to the limitations, obligations,
and other provisions contained in this Agreement, the Company agrees as follows:

 

a. [See
Employment Agreement]

 

     

     

    

 

3. Release
of Claims. Specifically in consideration of the separation pay and benefits described in Section 2, and the release provided
to you by the Company below, by signing this Agreement you, for yourself and anyone who has or obtains legal rights or claims
through you, agree to the following:

 

a. Subject
to and except as provided in Section 3.d below, you hereby do release and forever discharge the “Released Parties”
(as defined in Section 2.e. below) of and from any and all manner of claims, demands, actions, causes of action, administrative
claims, liability, damages, claims for punitive or liquidated damages, claims for attorney’s fees, costs and disbursements,
individual or class action claims, or demands of any kind whatsoever, you have or might have against them or any of them, whether
known or unknown, in law or equity, contract or tort, arising out of or in connection with your employment or independent contractor
engagement with the Company, or the termination of that employment or engagement, or otherwise, and however originating or existing,
from the beginning of time through the date of your signing this Agreement.

 

b. This
release includes, without limiting the generality of the foregoing, any claims you may have for, wages, bonuses, commissions,
penalties, deferred compensation, vacation, sick, and/or paid time off (PTO) pay, separation pay and/or benefits; tortious conduct,
defamation, libel, slander, invasion of privacy, negligence, emotional distress; breach of implied or express contract, estoppel;
wrongful discharge (based on contract, common law, or statute, including any federal, state or local statute or ordinance prohibiting
discrimination or retaliation in employment); violation of any of the following: the United States Constitution, the Wisconsin
Constitution, the Age Discrimination in Employment Act, 29 U.S.C. § 621 et seq., Wisconsin Fair Employment Act, Wisconsin
Wage Claim and Payment Law, Wisconsin Business Closing and Mass Layoff Law, Wisconsin Cessation of Health Care Benefits Law, Wisconsin
Family and Medical Leave Law, Wisconsin Personnel Records Statute, Wisconsin Employment Peace Act, any paid sick leave law, any
local human rights ordinance, Title VII of the Civil Rights Act, 42 U.S.C. § 2000e et seq., the Americans with Disabilities
Act, 42 U.S.C. § 12101 et seq., the Employee Retirement Income Security Act of 1974, 29 U.S.C. § 1001 et seq.,
the Family and Medical Leave Act, 29 U.S.C. § 2601 et seq., the National Labor Relations Act, 29 U.S.C. § 151
et seq., the Sarbanes-Oxley Act, 15 U.S.C. § 7201 et seq.; any claim for retaliation; all waivable claims arising
under Wisconsin and local statutes. You hereby waive any and all relief not provided for in this Agreement. You understand and
agree that, by signing this Agreement, you waive and release any claim to employment with the Company.

 

c. If
you file, or have filed on your behalf, a charge, complaint, or action, you agree that the payments and benefits described above
in Sections 1 and 2 hereof are in complete satisfaction of any and all claims in connection with such charge, complaint, or action
and you waive, and agree not to take, any award of money or other damages from such charge, complaint, or action. Notwithstanding
the foregoing, you do not waive your right to receive and fully retain a monetary award from a government-administered whistleblower
award program for providing information directly to a governmental agency.

 

    A-2

     

    

 

d. You
are not, by signing this Agreement, releasing or waiving (1) any vested interest you may have in any 401(k) or profit sharing
plan by virtue of your employment with the Company, (2) any rights or claims that may arise after the Agreement is signed, (3)
the post-employment payments and benefits specifically promised to you under Sections 1 and 2 of this Agreement, (4) the right
to assert claims or institute legal action for the purpose of enforcing the provisions of this Agreement, (5) any rights you have
to workers compensation benefits, (6) any rights you have under unemployment compensation benefits laws, (7) the right to file
a charge or complaint with a governmental agency such as the Equal Employment Opportunity Commission (“EEOC”), the
National Labor Relations Board (“NLRB”), the Occupational Safety and Health Administration (“OSHA”), the
Securities and Exchange Commission (“SEC”) or any other federal, state or local governmental agency, subject to Section
2(c) above, (8) the right to communicate with, testify, assist, or participate in an investigation, hearing, or proceeding conducted
by, the EEOC, NLRB, OSHA, SEC or other governmental agency, (9) any rights you may have under the Consolidated Omnibus Budget
Reconciliation Act (“COBRA”), or (10) any rights arising under any agreements between you and the Company related
to any equity interests you may have in the Company (11) any and all rights to indemnification and advancement or reimbursement
of expenses pursuant to the Company’s charter, bylaws or other governing documents or coverage under any director and officer
liability insurance policy, or (12) any rights arising under that certain Stock Purchase and Exchange Agreement, effective as
of July 1, 2019, by and among the Company and the stockholders listed on Exhibit A thereto.

 

e. The
“Released Parties,” as used in this Agreement, shall mean the Company and its parent, subsidiaries, divisions, affiliated
entities, insurers, if any, and its and their present and former officers, directors, shareholders, trustees, employees, agents,
attorneys, representatives and consultants, and the successors and assigns of each, whether in their individual or official capacities,
and the current and former trustees or administrators of any pension or other benefit plan applicable to the employees or former
employees of the Released Parties in their official and individual capacities.

 

4. Notice
of Right to Consult Attorney and Twenty-One (21) Calendar Day Consideration Period. By signing this Agreement, you acknowledge
and agree that the Company has informed you by this Agreement that (1) you have the right to consult with an attorney of your
choice prior to signing this Agreement, and (2) you are entitled to at least Twenty-One (21) calendar days from your receipt of
this Agreement to consider whether the terms are acceptable to you. You have the right, if you choose, to sign this Agreement
prior to the expiration of the Twenty-One (21) day period.

 

5. Notification
of Rights under the Federal Age Discrimination in Employment Act (29 U.S.C. § 621 et seq.). You are hereby notified of
your right to rescind the release of claims contained in Section 3 with regard to claims arising under the federal Age Discrimination
in Employment Act, 29 U.S.C. § 621 et seq.), within seven (7) calendar days of your signing this Agreement. In order
to be effective, the rescission must (a) be in writing; (b) delivered to John P. Yeros, CEO, EVO Transportation & Energy
Services, Inc., 8285 West Lake Pleasant Parkway, Peoria, AZ 85382, by hand or mail within the required period; and (c) if delivered
by mail, the rescission must be postmarked within the required period, properly addressed to John P. Yeros, as set forth above,
and sent by certified mail, return receipt requested. You understand and agree that if you rescind any part of this Agreement
in accordance with this Section 5, the Company will have no obligation to provide you the payments and benefits described in Section
2 of this Agreement and you will be obligated to return to the Company any payment(s) and benefits already received in connection
with Section 2 of this Agreement.

 

    A-3

     

    

 

6. Return
of Property. You acknowledge and agree that all documents and materials relating to the business of, or the services provided
by, the Company are the sole property of the Company. You agree and represent that you have returned to the Company all of its
property, including but not limited to, all data, files, documents and property within your possession or control, which in any
manner relate to the business of, or the duties and services you performed on behalf of the Company.

 

7. On-Going
Obligations. If you breach any term of this Agreement or Section 9 of your Employment Agreement as determined by a court of
competent jurisdiction, the Company shall be entitled to its available legal and equitable remedies, including but not limited
to suspending and recovering any and all payments and benefits made or to be made under Section 2 of this Agreement and payment
by you of its attorneys’ fees and costs. If the Company seeks and/or obtains relief from an alleged breach of this Agreement,
all of the provisions of this Agreement shall remain in full force and effect.

 

8. Cooperation.
You agree that through ______________ [THE SEVERANCE PERIOD], you will respond to the Company in a timely manner via email or
telephone should it have questions for you regarding your work for the Company such as, but not limited to, status of projects,
location of data and documents, and passwords, provided that such questions must be reasonable in volume and time commitment.

 

9. Non-Disparagement
and Confidentiality. You promise and agree not to disparage the Released Parties, the Company’s employees, products
or services.

 

10. Remedies.
In the event of litigation arising out of this Agreement or the Employment Agreement, the prevailing party will be entitled to
an award of its costs and reasonable attorneys’ fees. If either party breaches any term of this Agreement or the Employment
Agreement, as determined by a court of competent jurisdiction, the prevailing party shall be entitled to its available legal and
equitable remedies. For Company, this also includes but is not limited to suspending and recovering any and all payments and benefits
made or to be made under Section 2 of this Agreement. If the Company seeks and/or obtains relief from an alleged breach of this
Agreement, all of the provisions of this Agreement shall remain in full force and effect.

 

11.
Non-Admission. It is expressly understood that this Agreement does not constitute, nor shall it be construed as, an admission
by the Released Parties or you of any liability or unlawful conduct whatsoever. The Released Parties and you specifically deny
any liability or unlawful conduct.

 

    A-4

     

    

 

12. Successors
and Assigns. This Agreement is personal to you and may not be assigned by you without the written agreement of the Company.
The rights and obligations of this Agreement shall inure to the successors and assigns of the Released Parties.

 

13. Enforceability.
If a court finds any term of this Agreement to be invalid, unenforceable, or void, the parties agree that the court shall modify
such term to make it enforceable to the maximum extent possible. If the term cannot be modified, the parties agree that the term
shall be severed and all other terms of this Agreement shall remain in effect.

 

14. Law,
Jurisdiction and Venue, Jury Trial Waiver. This Agreement will be construed and interpreted in accordance with, and any dispute
or controversy arising from any breach or asserted breach of this Agreement will be governed by, the laws of the State of New
Jersey, without regard to any choice of law rules. Any action brought to enforce or interpret this Agreement must be brought in
the state or federal courts for the State of New Jersey, and the parties hereby consent to the jurisdiction and venue of such
courts in the event of any dispute. Each of the parties knowingly and voluntarily waives all right to trial by jury in any action
or proceeding arising out of or relating to this Agreement or for recognition or enforcement of any judgment.

 

15. Full
Agreement. This Agreement contains the full agreement between you and the Released Parties as to your employment with the
Company or termination thereof and may not be modified, altered, or changed in any way except by written agreement signed by both
parties. The parties agree that this Agreement supersedes and terminates any and all other written and oral agreements and understandings
between the parties as to your employment with the Company or termination thereof. Notwithstanding the foregoing, if you have
previously signed an agreement or agreements with the Company containing confidentiality, trade secret, noncompetition, nonsolicitation,
intellectual property, return of property, and/or similar provisions your obligations under such agreement(s) (including, without
limitation, under Section 9 of your Employment Agreement) shall continue in full force and effect according to their terms and
will survive the termination of your employment.

 

16. Counterparts.
This Agreement may be executed by facsimile or electronic transmission and in counterparts, each of which shall be deemed an original
and all of which shall constitute one instrument.

 

17. Acknowledgment
of Reading and Understanding. By signing this Agreement, you acknowledge that you have read this Agreement, including the
release of claims contained in Section 3, and understand that the release of claims is a full and final release of all claims
you may have against the Company and the other entities and individuals covered by the release. By signing, you also acknowledge
and agree that you have entered into this Agreement knowingly and voluntarily.

 

The
deadline for accepting this Agreement is 5:00 p.m. on the 22nd calendar day following your receipt of this Agreement (the “Offer
Expiration”). If not accepted by such time, the offer contained herein will expire. After you have reviewed this Agreement
and obtained whatever advice and counsel you consider appropriate regarding it, please evidence your agreement to the provisions
set forth in this Agreement by dating and signing the Agreement. Please then return a signed Agreement to me no later than the
Offer Expiration. Please keep a copy for your records.

 

We
wish you all the best.

 

Sincerely,

 

EVO
Transportation & Energy Services, Inc.

 

    A-5

     

    

 

ACKNOWLEDGMENT
AND SIGNATURE

 

By
signing below, I, ________________________, acknowledge and agree to the following:

 

		●	I
have had adequate time to consider whether to sign this Separation Agreement and Release.

 

		●	I
                                         have read this Separation Agreement and Release carefully.

 

		●	I
                                         understand and agree to all of the terms of the Separation Agreement and Release.

 

		●	I
                                         am knowingly and voluntarily releasing my claims against the Company and the other persons
                                         and entities defined as the Released Parties.

 

		●	I
                                         have not, in signing this Agreement, relied upon any statements or explanations made
                                         by the Company except as for those specifically set forth in this Separation Agreement
                                         and Release. 

 

		●	I
                                         intend this Separation Agreement and Release to be legally binding.

 

		●	I
                                         am signing this Separation Agreement and Release on or after my last day of employment
                                         with the Company.

 

Accepted
this__ day _______________________________ of , 20__.

 

_______________________________

 

    A-6

     

    

 

Exhibit
B

 

Existing
Outside Positions

 

Montclair
Kimberley Academy- Trustee

Partners
for Health Foundation - Trustee

 

 

B-1

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