Document:

Exhibit 10.1

PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD AGREEMENT

UNDER THE ALLIANCE DATA SYSTEMS CORPORATION

2010 OMNIBUS INCENTIVE PLAN

THIS RESTRICTED STOCK UNIT AWARD AGREEMENT (the "Agreement"), made as of [GRANT DATE] (the "Grant Date") by and between Alliance Data Systems Corporation (the "Company") and [PARTICIPANT NAME] (the "Participant") who is an employee of the Company or one of its Affiliates, evidences the grant by the Company of an award of restricted stock units (the "Award") to the Participant and the Participant's acceptance of the Award in accordance with the provisions of the Alliance Data Systems Corporation 2010 Omnibus Incentive Plan (the "Plan").  The Company and the Participant agree as follows:

1.Basis for Award.  The Award is made under the Plan pursuant to Section 6(f) and 6(g) thereof for service rendered to the Company by the Participant.

2.Restricted Stock Units Awarded.

(a)The Company hereby awards to the Participant, in the aggregate, [SHARES GRANTED] Restricted Stock Units which shall be subject to the conditions set forth in the Plan and this Agreement.

(b)Restricted Stock Units shall be evidenced by an account established and maintained for the Participant, which shall be credited for the number of Restricted Stock Units granted to the Participant.  By accepting this Award, the Participant acknowledges that the Company does not have an adequate remedy in damages for the breach by the Participant of the conditions and covenants set forth in this Agreement and agrees that the Company is entitled to and may obtain an order or a decree of specific performance against the Participant issued by any court having jurisdiction.

(c)Except as provided in the Plan or this Agreement, prior to vesting as provided in Sections 3 of this Agreement, the Restricted Stock Units will be forfeited by the Participant and all of the Participant's rights to stock underlying the Award shall immediately terminate without any payment or consideration by the Company in the event of a Participant's termination of employment as provided in Section 4 below.

3.Vesting

(a)Subject to Sections 2 and 4 of this Agreement, the restrictions on the Award will lapse as set forth in Section 3(b) below; provided, that, the Participant is employed on each Vesting Date by the Company or an Affiliate.  As soon as practicable after the Award vests and consistent with Section 409A of the Code, payment shall be made in Stock (based upon the Fair Market Value of the Stock on the day all restrictions lapse).  The Committee shall cause the Stock to be electronically delivered to the Participant's electronic account with respect to such Stock free of all restrictions.  Pursuant to Section 11, the number of shares delivered shall be net of the number of shares withheld for satisfaction of Withholding Taxes, if any.

(b)The restrictions described in this Agreement will lapse upon determination by the Board or the Compensation Committee of the Board that the Company's Earnings Before Taxes (EBT) for the period from January 1, 2015 to December 31, 2015 meets the vesting criteria set forth in the 2015 ADS EBT Performance Chart shown below.  Upon such determination, the restrictions will lapse with respect to 33% upon the day of the first anniversary of the date of grant; an additional 33% of the Award will become vested on the day of the second anniversary of the date of grant; and the final 34% of the Award will become vested on the day of the third anniversary of the date of grant; provided, that, the Participant is employed by the Company on each Vesting Date.  If the Participant ceases to be employed by the Company at any time prior to a Vesting Date, any and all unvested Restricted Stock Units shall automatically be forfeited upon such cessation of service.

The aggregate number of Restricted Stock Units on which restrictions will lapse on each Vesting Date will be determined in accordance with the following 2015 ADS EBT Performance Chart.  For example, if the Company's EBT for the period from January 1 through December 31, 2015 is determined by the Board or the Compensation Committee of the Board to be $923 million, then restrictions on 75.0% of the total Award will lapse, with restrictions on 33% of the 75.0% lapsing upon the day of the first anniversary of the date of grant, restrictions on 33% of the 75.0% lapsing on the day of the second anniversary of the date of the grant, and restrictions on 34% of the 75.0% lapsing on the day of the third anniversary of the date of the grant, provided the Participant is employed by the Company on each Vesting Date:

Termination of Employment.  Unless otherwise determined by the Committee at time of grant or thereafter or as otherwise provided in the Plan, any unvested portion of any outstanding Award held by a Participant at the time of termination of employment or other service for any reason will be forfeited upon such termination.

5.Company; Participant.

(a)The term "Company" as used in this Agreement with reference to employment shall include the Company and its Affiliates, as appropriate.

(b)Whenever the word "Participant" is used in any provision of this Agreement under circumstances where the provision should logically be construed to apply to the beneficiaries, the executors, the administrators, or the person or persons to whom the Restricted Stock Units may be transferred by will or by the laws of descent and distribution, the word "Participant" shall be deemed to include such person or persons.

6.Adjustments; Change in Control.

(a)In the event that the Committee determines that any dividend or other distribution (whether in the form of cash, Stock or other property), recapitalization, forward or reverse split, reorganization, merger, consolidation, spin-off, combination, repurchase or exchange of Stock or other securities, liquidation, dissolution, or other similar corporate transaction or event, affects the Stock such that an adjustment is appropriate in order to prevent dilution or enlargement of the rights of Participants under the Plan, then the Committee shall, in such manner as it may deem equitable, adjust any or all of  the number and kind of shares that may be issued in respect of Restricted Stock Units.  In addition, the Committee is authorized to make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (including, without limitation, events described in the preceding sentence) affecting the Company or any Affiliate or the financial statements of the Company or any Affiliate or in response to changes in applicable laws, regulations, or accounting principles.  Notwithstanding the foregoing, no such adjustment shall be authorized with respect to Awards subject to Section 6(g) of the Plan to the extent that such authority could cause such Awards to fail to qualify as "qualified performance-based compensation" under Section 162(m)(4)(C) of the Code.

(b)In connection with a Change in Control, the Committee may, in its sole discretion, accelerate the vesting and/or the lapse of restrictions with respect to the Award.  If the Award is not assumed, substituted for an award of equal value, or otherwise continued after a Change in Control, the Award shall automatically vest prior to the Change in Control at a time designated by the Committee.  Timing of any payment or delivery of shares of Stock under this provision shall be subject to Section 409A of the Code.

(c)All outstanding Restricted Stock Units shall immediately vest upon a termination of employment by the Company without Cause, within twelve months after a Change in Control.

7.Clawback.  Notwithstanding anything in the Plan or this Agreement to the contrary, in the event that the Participant breaches any nonsolicitation, noncompetition or confidentiality agreement entered into with, or while acting on behalf of, the Company or any Affiliate, the Committee may (a) cancel the Award, in whole or in part, whether or not vested, and/or (b) require such Participant or former Participant to repay to the Company any gain realized or payment or shares received upon the exercise or payment of, or lapse of restrictions with respect to, such Award (with such gain, payment or shares valued as of the date of exercise, payment or lapse of restrictions.  Notwithstanding anything in the Plan or any Agreement to the contrary, if any of the Company's financial statements are required to be restated due to errors, omissions, fraud, or misconduct, the Committee may, in its sole discretion but acting in good faith, direct the Company to recover all or a portion of any Award or any past or future compensation from any Participant or former Participant with respect to any fiscal year of the Company for which the financial results are negatively affected by such restatement. Such cancellation or repayment obligation shall be effective as of the date specified by the Committee.  Any repayment obligation may be satisfied in shares of Stock or cash or a combination thereof (based upon the Fair Market Value of the shares of Stock on the date of repayment) and the Committee may provide for an offset to any future payments owed by the Company or any Affiliate to the Participant if necessary to satisfy the repayment obligation; provided, however, that if any such offset is prohibited under applicable law, the Committee shall not permit any offsets and may require immediate repayment by the Participant.

8.Compliance with Law.  Notwithstanding any of the provisions hereof, the Company will not be obligated to issue or deliver any Stock to the Participant hereunder, if the exercise thereof or the issuance or delivery of such Stock shall constitute a violation by the Participant or the Company of any provisions of any law or regulation of any governmental authority.  Any determination in this connection by the Committee shall be final, binding and conclusive.  The Company shall in no event be obliged to register any securities pursuant to the Securities Act of 1933 (as now in effect or as hereafter amended) or to take any other affirmative action in order to cause the issuance or delivery of Stock pursuant thereto to comply with any law or regulation of any governmental authority.

9.No Right to Continued Employment.  Nothing in this Agreement or in the Plan shall be construed as giving any employee or other person the right to be retained in the employ or service of the Company or any Subsidiary, nor shall it interfere in any way with the right of the Company or any Subsidiary to terminate any employee's employment or other person's service at any time. Participant acknowledges and agrees that the continued vesting of the Restricted Stock Units granted hereunder is premised upon attainment of the performance goals set forth herein and vesting of such Restricted Stock Units shall not accelerate upon termination of employment for any reason unless specifically provided for herein.

10.Representations and Warranties of Participant.  The Participant represents and warrants to the Company that:

(a)Agrees to Terms of the Plan.  The Participant has received a copy of the Plan and has read and understands the terms of the Plan and this Agreement, and agrees to be bound by their terms and conditions.  In the event of a conflict or inconsistency between the terms and provisions of the Plan and the provisions of this Agreement, the Plan shall govern and control.  All capitalized terms not defined herein shall have the meaning ascribed to them as set forth in the Plan.  The Participant acknowledges that there may be tax consequences upon the vesting of Restricted Stock Units or later disposition of the shares of Stock once the Award has vested, and that the Participant should consult a tax adviser prior to such time.

(b)Cooperation.  The Participant agrees to sign such additional documentation as may reasonably be required from time to time by the Company.

11.Taxes and Share Withholding.  At such time as the Participant has taxable income in connection with an Award (a "Taxable Event") and prior to the issuance of shares of Stock, the Company has the right to require the Participant to pay to the Company an amount in cash, or the Company may withhold a portion of shares then issuable to the Participant having an aggregate Fair Market Value equal to, but not in excess of an amount equal to, the minimum federal, state, local and/or foreign withholding obligations along with other amounts as may be required by law to be withheld by the Company in connection with the Taxable Event (the "Withholding Taxes").  The Participant may be given the opportunity to make a written election to deposit cash in Participant's electronic account or to have withheld a portion of shares of Stock issuable to Participant upon vesting of the Restricted Stock Units, having an aggregate Fair Market Value equal to the Withholding Taxes in connection with the Taxable Event.

12.Rights as Stockholder.  The Participant shall have no rights as a stockholder with respect to any Restricted Stock Unit until he shall have become the holder of record of such Stock, and no adjustment shall be made for dividends or distributions or other rights for which the record date is prior to the date upon which Participant shall become the holder of record thereof.

13.Notice.  Every notice or other communication relating to this Agreement shall be in writing, and shall be mailed to or delivered to the party for whom it is intended at such address as may from time to time be designated by it in a notice mailed or delivered to the other party as herein provided; provided, that, unless and until some other address be so designated, all notices or communications by the Participant to the Company shall be mailed or delivered to the Company at its principal executive office, and all notices or communications by the Company to the Participant may be given to the Participant personally or may be mailed to Participant's address as recorded in the records of the Company.

14.Governing Law.  This Agreement shall be construed and interpreted in accordance with the laws of the State of Delaware without regard to its conflict of law principles.

15.Electronic Transmission.  The Company reserves the right to deliver any notice or Award by email in accordance with its policy or practice for electronic transmission and any written Award or notice referred to herein or under the Plan may be given in accordance with such electronic transmission policy or practice.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.

ALLIANCE DATA SYSTEMS

CORPORATION

By:

Leigh Ann Epperson

SVP, General Counsel and Secretary

PARTICIPANT

                                                                          

[PARTICIPANT NAME]Exhibit
10.1

 

 

 

EXECUTIVE
EMPLOYMENT AGREEMENT

This EXECUTIVE EMPLOYMENT AGREEMENT (the "Agreement")
dated as of February 13, 2015 by and between AMP Holding Inc., a company incorporated under the laws of Nevada (the "Company"),
and Marshall S. Cogan, an individual (the "Executive") with reference to the following facts:

 

WHEREAS, Executive is an industry expert in the areas
of automotive and trucking; and

 

WHEREAS, the parties wish to enter into this Agreement,
effective immediately, on the terms and conditions contained in this Agreement, where Executive will serve as Chief Investment
Officer.

 

NOW THEREFORE, in consideration of the foregoing facts
and mutual agreements set forth below, the parties, intending to be legally bound, agree as follows:

 

1.Definitions.
As used in this Agreement, the following terms shall have the following meanings:

(a)               
"Board" means the Board of Directors of the Company.

(b)              
"Cause" means any of the following:

		(i)	the
                                         commission of an act of fraud, embezzlement or dishonesty by Executive, or the commission
                                         of some other illegal act by Executive (other than traffic violations);

		(ii)	a
                                         conviction of, or plea of "guilty" or "no contest" to, a felony by
                                         Executive;

		(iii)	any
                                         unauthorized use or disclosure by Executive of confidential information or trade secrets
                                         of the Company or any successor or affiliate thereof;

		(iv)	Executive's
                                         gross negligence, failure to follow a lawful request of the Board or the Company's Chief
                                         Executive Officer or material violation of any duty of loyalty or other fiduciary duty
                                         to the Company or any successor or affiliate thereof, or any other demonstrable material
                                         willful misconduct on the part of Executive;

		(v)	Executive's
                                         ongoing and repeated failure or refusal to perform or neglect of Executive's duties as
                                         required by this Agreement, which failure, refusal or neglect continues for ten (10)
                                         days following Executive's receipt of written notice from the Chief Executive Officer
                                         of the Company stating with specificity the nature of such failure, refusal or neglect,
                                         provided that such failure to perfoini is not as a result of illness, injury or medical
                                         incapacity; or
	 	 	 
	 	(vi)	Executive's
                                         material breach of any Company policy or any material provision of this Agreement;

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provided,
however, that prior to the determination that "Cause" under this Section 1(b) has occurred, the CEO shall (A) provide
to Executive in writing, in reasonable detail, the reasons for the determination that such "Cause" exists, (B) other
than with respect to clause (v) above which specifies the applicable period of time for Executive to remedy his breach, afford
Executive five (5) days to remedy any such breach, and (C) provide the Executive an opportunity to be heard by the CEO prior to
the final decision to teuninate the Executive's employment hereunder for such "Cause"

The
foregoing definition shall not in any way preclude or restrict the right of the Company or any successor or affiliate thereof
to discharge or dismiss Executive for any other acts or omissions, but such other acts or omissions shall not be deemed, for purposes
of this Agreement, to constitute grounds for termination for Cause.

(c)
"Change in Control" means and includes each of the following:

 

	(i)		a
                                         transaction or series of transactions (other than an offering of the Company's common
                                         stock to the general public through a registration statement filed with the Securities
                                         and Exchange Commission) whereby any "person" or related "group"
                                         of "persons" (as such terms are used in Sections 13(d) and 14(d)(2) of the
                                         Securities Exchange Act of 1934, as amended (the "Exchange Act")) (other
                                         than the Company, any of its subsidiaries, an employee benefit plan maintained by the
                                         Company or any of its subsidiaries or a "person" that, prior to such transaction,
                                         directly or indirectly controls, is controlled by, or is under common control with, the
                                         Company) directly or indirectly acquires beneficial ownership (within the meaning of
                                         Rule 13d-3 under the Exchange Act), of securities of the Company possessing fifty-one
                                         percent (51%) or more of the total combined voting power of the Company's securities
                                         outstanding immediately after such acquisition; or
	 	 	 

	(ii)		the
                                         consummation by the Company (whether directly involving the Company or indirectly involving
                                         the Company through one or more intermediaries) of (A) a merger, consolidation, reorganization,
                                         or business combination or (B) a sale or other disposition of all or substantially all
                                         of the Company's assets in any single transaction or series of related transactions or
                                         (C) the acquisition of assets or stock of another entity, in each case other than a transaction:

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		(1)	which
                                         results in the Company's voting securities outstanding immediately before the transaction
                                         continuing to represent (either by remaining outstanding or by being converted into voting
                                         securities of the Company or the person that, as a result of the transaction, controls,
                                         directly or indirectly, the Company or owns, directly or indirectly, all or substantially
                                         all of the Company's assets or otherwise succeeds to the business of the Company (the
                                         Company or such person, the "Successor Entity")) directly or indirectly,
                                         at least fifty-one percent (51%) of the combined voting power of the Successor Entity's
                                         outstanding voting securities immediately after the transaction, and

		(2)	after
                                         which no person or group beneficially owns voting securities representing forty percent
                                         (40%) or more of the combined voting power of the Successor Entity; provided, however,
                                         that no person or group shall be treated for purposes of this clause (2) as beneficially
                                         owning forty percent (40%) or more of combined voting power of the Successor Entity solely
                                         as a result of the voting power held in the Company prior to the consummation of the
                                         transaction.

Notwithstanding
the foregoing, a transaction shall not constitute a "Change in Control" if: (i) its sole purpose is to change
the state or Country of the Company's incorporation; (ii) its sole purpose is to create a holding company that will be owned in
substantially the same proportions by the persons who held the Company's securities immediately before such transaction; (iii)
it constitutes the Company's initial public offering of its securities; or (iv) it is a transaction effected primarily for the
purpose of financing the Company with cash (as determined by the Board in good faith and without regard to whether such transaction
is effectuated by a merger, equity financing or otherwise).

(d)              
"Code" means the Internal Revenue Code of 1986, as amended from time to time, and the Treasury Regulations and
other interpretive guidance issued thereunder.

(e)               
"Enterprise Value" means in the case of a Change in Control in which consideration is payable to the Company
in respect of its assets or business, the total cash and non-cash (including, without limitation, the assumption of debt) consideration
received by the Company, net of any fees and expenses in connection with the transaction; or in the case of a Change in Control
in which consideration is payable to the Company's stockholders, the total cash and non-cash (including, without limitation, the
assumption of debt) consideration payable to the Company's stockholders net of any fees and expenses in connection with the transaction.
"Enterprise Value" shall also include, if applicable, any cash or non-cash consideration payable to the Company
or to the Company's stockholders on a contingent, earnout or deferred basis. To the extent that any consideration in a transaction
is not received in cash upon the consummation of the Change in Control, the value of such non-cash consideration for purposes
of calculating the Enterprise Value will be determined by the Board of Directors of the Company prior to the Change in Control
in good faith. In the event that less than 100% of the stock or assets of the Company is purchased in the Change in Control transaction,
the Enterprise Value shall be extrapolated from the percentage of the Company's capital stock or assets impacted in such Change
in Control transaction to determine if the Enterprise Value Threshold (as hereinafter defined) was met, but the Sale Bonus (as
hereinafter defined) shall be calculated based on the actual consideration received by the Company or shareholders, as the case
may be.

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(e)"Good
Reason" means the occurrence of any of the following events or conditions without
Executive's written consent:

	 	 	 
	(i)		a
                                         material reduction of Executive's title or the assignment to Executive of duties materially
                                         inconsistent with Executive's positions with the Company as stated in Section 2(a) hereof;

	(ii)		a
                                         material diminution in Executive's base compensation, unless

                                         such a reduction is imposed across-the-board to senior management of the Company and
                                         is not greater than 30%; or

	(iii)		a
                                         material change in the geographic location at which Executive must perform his or her
                                         duties.

Executive
must provide written notice to the Company of the occurrence of any of the foregoing events or conditions without Executive's
written consent within ninety (90) days of the occurrence of such event. The Company or any successor or affiliate shall have
a period of thirty (30) days to cure such event or condition after receipt of written notice of such event from Executive.

(f)
"Involuntary Termination" means (i) the Executive's Separation from Service by reason of Executive's discharge
by the Company other than for Cause, or (ii) the Executive's Separation from Service by reason of Executive's resignation of employment
with the Company for Good Reason. Executive's Separation from Service by reason of Executive's death or discharge by the Company
following Executive's Permanent Disability shall not constitute an Involuntary Termination. The Executive's Separation from Service
by reason of resignation from employment with the Company for Good Reason shall be an "Involuntary Termination" only
if such Separation from Service occurs within thirty (30) days following the initial existence of the act or failure to act constituting
Good Reason.

(g)"Permanent
Disability" of the Executive shall be deemed to have occurred if Executive shall become physically or mentally incapacitated
or disabled or otherwise unable fully to discharge his duties hereunder for a period of thirty (30) consecutive calendar days
or for sixty (60) calendar days in any one (1) year calendar-day period. The existence of Executive's Permanent Disability shall
be determined by the Company on the advice of a physician chosen by the Company and reasonably acceptable to the Executive, and
the Company reserves the right to have the Executive examined by such physician at the Company's expense.

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(h)            
"Separation from Service," with respect to the Executive, means the Executive's "separation from service,"
as defined in Treasury Regulation Section 1.409A-1(h).

(i)              "Stock
Awards" means all stock options, restricted stock and such other awards granted pursuant to the Company's stock option
and equity incentive award plans or agreements and any shares of stock issued upon exercise thereof.

2.Services
to Be Rendered. 

(a)      Duties
and Responsibilities. Executive shall serve as Chief Investment Officer of the Company. the Company shall nominate and recommend
that Executive serve as a director on the Board, initially as Chairman, which such nomination will be subject to a separate agreement
to be entered between the Company and the Executive. In the performance of such duties, Executive shall report directly to and
shall be subject to the direction of the Chief Executive Officer. Executive hereby consents to serve as an officer and as a director
of the Company or any subsidiary or affiliate thereof without any additional salary or compensation upon request by the Company.
Executive's primary place of work shall be the Company's executive offices in Loveland, Ohio, New York, New York or such other
location as may be designated by the Board from time to time. Executive shall also render services at such other places within
or outside the United States as the Board may direct from time to time. Executive shall be subject to and comply with the policies
and procedures generally applicable to senior executives of the Company to the extent the same are not inconsistent with any term
of this Agreement.

(b)      Focused
Services. Executive shall at all times faithfully, industriously and to the best of his ability, experience and talent perform
all of the duties that may be assigned to Executive hereunder. The Company acknowledges and agrees that Executive may devote reasonable
periods to other business activities and join community and civic boards so long as such activities and service do not, individually
or in the aggregate, materially interfere with his duties to the Company, violate Section 6 below or pose a conflict of interest
subject to obtaining the prior written approval of the Company with respect to for-profit entities, such approval not to be unreasonably
withheld or delayed. Such business activities include, without limitation:

	(i)		Serving
                                         as a member or owner of any organization involving no

                                         conflict of interest with the Company, provided
                                         that Executive must obtain the prior written approval of the Chief Executive Officer;

	(ii)		Serving
                                         as a consultant in his area of expertise to government,

                                         commercial and academic panels where it does not conflict with the interests of the Company,
                                         which shall not involve a material time commitment; and

	(iii)		Managing
                                         his personal investments, including owning shares of companies whose securities are publicly
                                         traded, so long as such securities do not constitute more than five percent (5%) of the
                                         outstanding securities of any such company.

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3.               
Employment Term. The term of this Agreement (as it may be extended by the following sentence or terminated earlier pursuant
to Section 5, the "Employment Term") shall be three (3) years, beginning on the initial date set forth above
and end on the close of business on January 31, 2018. The Employment Term shall be automatically extended for additional one-year
periods unless, at least ten (10) days prior to the end of the expiration of the Employment Term, Executive or the Board notifies
the other party in writing (a "Non-Renewal Notice") that it does not wish to extend such Employment Term. Executive's
employment hereunder shall be coterminous with the Employment Term, unless sooner terminated as provided in Section 5.

4.               
Compensation and Benefits. the Company shall pay or provide, as the case may be, to Executive the compensation and other
benefits and rights set forth in this Section 3.

(a)               
Base Salary. The Company shall pay to Executive a base salary of $135,000 per year, payable in accordance with the Company's
usual pay practices (and in any event no less frequently than monthly). Executive's base salary shall be subject to review annually
by the Board and/or its designee and may be increased (but not decreased). Executive will accrue his Base Salary during the initial
sixty (60) days of this Agreement.

(b)              
Annual Bonus. Executive shall be entitled to participate in any bonus plan that the Board or its designee may approve for
the senior executives of the Company, or, at minimum, Executive's annual bonus shall be equal to 1/2 of that of Steven
Burns, the Chief Executive Officer of the Company. Bonuses shall be paid no later than two and one-half (2 1/2) months
following the end of the applicable year.

(c)               
Benefits. Executive shall be entitled to participate in benefits under the Company's benefit plans, profit sharing and
arrangements, including, without limitation, any employee benefit plan or arrangement made available in the future by the Company
to its employees or senior executives, subject to and on a basis consistent with the terms, conditions and overall administration
of such plans and arrangements. The Company shall have the right to amend or delete any such benefit plan or arrangement made
available by the Company to its employees or senior executives and not otherwise specifically provided for herein. Executive expressly
waives any rights to medical or health benefits.

(d)              
Expenses. The Company shall be provided with a Company credit card and/or an allowance of up to $2,000 per month for capital
raising expenses primarily related to travel and entertaining, which copies of such expense records will be provided to the Company
on a monthly basis. Company shall promptly reimburse Executive for reasonable out-of-pocket business expenses incurred in connection
with the performance of his duties hereunder that are pre-approved in writing by the Chief Executive Officer or Chief Financial
Officer, subject to (i) such policies as the Company may from time to time establish and (ii) Executive furnishing the Company
with evidence in the form of receipts satisfactory to the Company substantiating the claimed expenditures.

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(e)               Vacation.
Executive shall have the right to four weeks of vacation during each successive one year period of his employment by the Company,
which vacation time shall be taken at such time or times in each such one year period so as not to materially and adversely interfere
with the performance of his responsibilities under this Agreement. Executive shall not be entitled to carry over any unused vacation
time from one year to the next and any accrued but unused vacation time will be waived. In addition, Executive shall be entitled
to additional paid time off in accordance with the policies of the Company applicable to senior management personnel from time
to time.

(f)               
Withholding. The Company shall be entitled to withhold from amounts payable or benefits accorded to Executive under this
Agreement all federal, state and local income, employment and other taxes, as and in such amounts as may be required by applicable
law.

(g)              
Equity Awards. Executive shall also be entitled to an issuance of a special option to acquire 7,500,000 shares of common
stock, exercisable for the three year Employment Term at $0.15 per share ("Executive Stock Options"), subject to vesting.
The Executive Stock Options shall be earned and vested in equal tranches of 2,500,000 on the one-year, two-year and three-year
anniversary of this Agreement, which such vesting is subject to Executive's continued employment as an executive with the Company
as of the vesting date.

(h)              
Change in Control Bonus. In consideration of Executive's service to the Company and the service to be provided hereunder,
in the event the Company consummates a Change in Control transaction where the Enterprise Value equals or exceeds a minimum value
of $50 million (the "Enterprise Value Threshold"), the Executive shall be entitled to a cash bonus in the amount
of 2.5% of the Enterprise Value (the "Sale Bonus"). The Sale Bonus shall be payable ninety-one (91) days after
the completion of the Change in Control transaction, provided, however, that Executive shall not be entitled to receive the Sale
Bonus unless Executive remains employed by the Company for the ninety (90) days following the completion of the Change in Control
transaction unless Executive's employment is Involuntarily Terminated in which case the Sale Bonus would be payable within ninety
(90) days. Notwithstanding anything else to the foregoing, the Sale Bonus pursuant to this Section 3(h) will terminate upon the
Company granting the Executive long-term incentive compensation mutually agreed to by the Board and the Executive pursuant to
a new Company equity incentive plan.

5.Termination;
Severance. Executive shall be entitled to receive benefits upon a Separation from Service only as set forth in this Section
5:

(a)General.
Either the Chief Executive Officer of the Company or Executive may terminate Executive's employment hereunder, for any reason,
at any time prior to the expiration of the Employment Term, as appropriate, upon ten (10) days prior written notice to the other
party. Upon termination of Executive's employment hereunder for any reason, Executive shall be deemed simultaneously to have resigned
from any other position or office he may at the time hold with the Company or any of its affiliates. Further upon termination
of Executive's employment, Executive shall resign from the Board of Directors, In addition, upon termination of Executive's employment
hereunder for any reason, including, without limitation, expiration of the Employment Term, the Company shall (i) reimburse the
Executive for any expenses properly incurred under Section 3(d) and which have not previously been reimbursed as of the effective
date of the termination, (ii) pay Executive for any accrued, but unused, vacation time as of the effective date of the termination,
(iii) pay Executive for any accrued and unpaid base salary through and including the effective date of termination, and (iv) pay
Executive any earned by not paid bonus for the year prior to the year in which the effective date of termination occurs (collectively,
the "Accrued Compensation"). The Accrued Compensation will be paid in a lump sum on the first regularly scheduled
payroll date following the effective date of the termination of Executive's employment with the Company, except that any earned
by unpaid bonus will be made at the time such bonuses are paid to senior executives generally but no later than two and one-half
(2 '/2) months after the end of the year to which the bonus relates.

    	7

    	 

    

 

(b)                 
by Death or Following Permanent Disability. Subject to Sections 5(f) and 10(p) and Executive's continued compliance with
Section 6, in the event of Executive's as a result of Executive's death or discharge by the Company following Executive's Permanent
Disability, Executive or Executive's estate, as applicable, shall be entitled to receive his base salary through the date that
Executive's Separation from Service occurs as a result of Executive's death or Permanent Disability, Executive shall receive a
payment equal to two (2) months of Executive's base salary.

(c)                 
Severance upon Involuntary Termination. Subject to Sections 5(f) and 10(p) and Executive's continued compliance with Section
6, if Executive's employment is Involuntarily Terminated, Executive shall be entitled to receive, in lieu of any severance benefits
to which Executive may otherwise be entitled under any severance plan or program of the Company, the benefits provided below,
which, with respect to clause (ii) and the last sentence of clause (iii) (if applicable) will be payable in a lump sum within
ninety (90) days following the effective date of Executive's Release (as hereinafter defined):

 

	(i)		the
                                         Company shall pay to Executive his fully earned but unpaid base salary, when due, through
                                         the date of Executive's Involuntary Termination at the rate then in effect (without regard
                                         to any reduction in salary that gave rise to an event of Good Reason), plus all other
                                         benefits, if any, under any Company group retirement plan, nonqualified deferred compensation
                                         plan, equity award plan or agreement, health benefits plan or other Company group benefit
                                         plan to which Executive may be entitled pursuant to the terms of such plans or agreements
                                         at the time of Executive's Involuntary Termination;

	(ii)		Executive
                                         shall be entitled to receive severance pay in an amount equal to the base salary payable
                                         to Executive under Section 3(a) of this Agreement from the date of Executive's Involuntary
                                         Termination until the three (3) month anniversary of such Involuntary Termination (the
                                         "Severance Period"); and

    	8

    	 

    

 

 

	(iii)		That
                                         portion of the Stock Awards that would have vested over the Severance Period shall be
                                         automatically accelerated so as to be immediately vested as of the date of Involuntary
                                         Termination and any vested options or similar award (e.g., a stock appreciation right)
                                         may be exercised at any time during the Severance Period (subject to earlier termination
                                         (A) in connection with a recapitalization or similar transaction pursuant to the Company's
                                         equity incentive plans governing such Stock Awards or (B) the contractual term of the
                                         Stock Award), or if longer, through the date such vested options or similar award are
                                         exercisable under the terms of the applicable Stock Award.

(d)              
Termination for Cause or Voluntary Resignation Without Good Reason. In the event of Executive's termination of employment
as a result of Executive's discharge by the Company for Cause or Executive's resignation without Good Reason (other than as a
result of Executive's death or Separation of Service by reason of discharge by the Company following Executive's Permanent Disability),
the Company shall not have any other or further obligations to Executive under this Agreement (including any financial obligations)
except that Executive shall be entitled to receive the Accrued Compensation. In addition, in the event of Executive's Separation
from Service as a result of Executive's discharge by the Company for Cause or Executive's resignation without Good Reason (other
than as a result of Executive's death or Separation of Service by reason of discharge by the Company following Executive's Permanent
Disability), all vesting of Executive's unvested Stock Awards previously granted to him by the Company shall cease and none of
such unvested Stock Awards shall be exercisable following 30th day following the date of such termination. The foregoing
shall be in addition to, and not in lieu of, any and all other rights and remedies which may be available to the Company under
the circumstances, whether at law or in equity.

(e)               
Intentionally Left Blank

(f)
Release. As a condition to Executive's receipt of any post-termination benefits
pursuant to Sections 5(b), (c) or (e) above, Executive (or, in the event of Executive's incapacity as a result of his Permanent
Disability, the Executive's legal representative) shall execute and not revoke a general release of all claims in favor of the
Company (the "Release") in a form reasonably acceptable to the Company. In the event the Release does not become
effective within the fifty-five (55) day period following the date of Executive's Separation from Service, Executive shall not
be entitled to the aforesaid payments and benefits.

(g)Exclusive
Remedy. Except as otherwise expressly required by law (e.g.,COBRA)
or as specifically provided herein, all of Executive's rights to salary, severance, benefits, bonuses and other amounts hereunder
(if any) accruing after the termination of Executive's employment shall cease upon such termination. In the event of Executive's
termination of employment with the Company, Executive's sole remedy shall be to receive the payments and benefits described in
this Section 5. In addition, Executive acknowledges and agrees that he is not entitled to any reimbursement by the Company for
any taxes payable by Executive as a result of the payments and benefits received by Executive pursuant to this Section 5, including,
without limitation, any excise tax imposed by Section 4999 of the Code.

    	9

    	 

    

 

(h)              
No Mitigation. Executive shall not be required to mitigate the amount of any payment provided for in this Section 5 by
seeking other employment or otherwise, nor shall the amount of any payment or benefit provided for in this Section 5 be reduced
by any compensation earned by Executive as the result of employment by another employer or self-employment or by retirement benefits;
provided, however, that loans, advances or other amounts owed by Executive to the Company may be offset by the Company
against amounts payable to Executive under this Section 5.

(i)                
Return of the Company's Property. In the event of Executive's termination of employment for any reason, the Company shall
have the right, at its option, to require Executive to vacate his offices prior to or on the effective date of separation and
to cease all activities on the Company's behalf. Upon Executive's termination of employment in any manner, as a condition to the
Executive's receipt of any severance benefits described in this Agreement, Executive shall immediately surrender to the Company
all lists, books and records of, or in connection with, the Company's business, and all other property belonging to the Company,
it being distinctly understood that all such lists, books and records, and other documents, are the property of the Company. Executive
shall deliver to the Company a signed statement certifying compliance with this Section 5(i) prior to the receipt of any severance
benefits described in this Agreement.

6.Certain
Covenants.

(a)               
Noncompetition. The Executive hereby covenants and agrees that during the Employment Term and for a period of one year
following the end of the Employment Term (the "Restricted Period"), the Executive will not, without the prior
written consent of the Company, directly or indirectly, on his own behalf or in the service or on behalf of others, whether or
not for compensation, engage in any business activity, or have any interest in any person, firm, corporation or business, through
a subsidiary or parent entity or other entity (whether as a shareholder, agent, joint venture, security holder, trustee, partner,
executive, creditor lending credit or money for the purpose of establishing or operating any such business, partner or otherwise)
with any Competing Business in the Covered Area. For the purpose of this Section 6(a), (i) "Competing Business"
means any truck manufacturing company, any contract manufacturer, or other company or entity (whether or not organized for profit)
that develops, manufacturers, markets and sells electric drive systems for medium-duty, class 3-6 commercial truck platforms and
chassis with electric, gasoline, propane or CNG engines and (ii) "Covered Area" means all geographical areas
of the United States. Passive ownership of less than 5% of a public company shall not be a violation of this Section 6(a).

    	10

    	 

    

 

(b)              
Confidential Information. Executive recognizes and acknowledges that by reason of Executive's employment by and service
to the Company before, during and, if applicable, after the Employment Term, Executive will
have access to certain confidential and proprietary information relating to the Company's business, which may include, but is
not limited to, unique business strategies, theories and concepts, information regarding plans, strategies, opportunities, processes,
ideas, research and know-how developed by or for the Company, trade secrets, patents, other intellectual property, clinical studies,
regulatory dossiers, manufacturing, marketing, personnel, financial data, technical information, methods, processes, formulae
and information which Company has developed internally or obtained from third parties (collectively referred to as "Confidential
Information"). Executive acknowledges that such Confidential Information is a valuable and unique asset of the Company
and Executive covenants that he will not, unless expressly authorized in writing by the Company, at any time during the course
of Executive's employment use any Confidential Information or divulge or disclose any Confidential Information to any person,
firm or corporation except in connection with the performance of Executive's duties for the Company and in a manner consistent
with the Company's policies regarding Confidential Information. Executive also covenants that at any time after the termination
of such employment, directly or indirectly, he will not use any Confidential Information or divulge or disclose any Confidential
Information to any person, firm or corporation, unless such information is in the public domain through no fault of Executive
or except when required to do so by a court of law, by any governmental agency having supervisory authority over the business
of the Company or by any administrative or legislative body (including a committee thereof) with apparent jurisdiction to order
Executive to divulge, disclose or make accessible such information. All written Confidential Information (including, without limitation,
in any computer or other electronic format) which comes into Executive's possession during the course of Executive's employment
shall remain the property of the Company. Except as required in the performance of Executive's duties for the Company, or unless
expressly authorized in writing by the Company, Executive shall not remove any written Confidential Information from the Company's
premises, except in connection with the performance of Executive's duties for the Company and in a manner consistent with the
Company's policies regarding Confidential Information. Upon termination of Executive's employment, the Executive agrees to return
immediately to the Company all written Confidential Information (including, without limitation, in any computer or other electronic
format) in Executive's possession. As a condition of Executive's continued employment with the Company and in order to protect
the Company's interest in such proprietary information, the Company shall be allowed to require Executive's execution of a confidentiality
agreement and/or proprietary information and inventions agreement, as reasonably requested by the Board of Executive and other
executive officers of the Company.

(c)               
Solicitation of Employees. Executive shall not during the Restricted Period, directly or indirectly, solicit or encourage
to leave the employment of the Company or any of its affiliates, any employee of the Company or any of its affiliates.

(d)              
Solicitation of Consultants. Executive shall not during the Restricted Period, directly or indirectly, hire, solicit or
encourage to cease work with the Company or any of its affiliates any consultant then under contract with the Company or any of
its affiliates within one year of the termination of such consultant's engagement by the Company or any of its affiliates.

    	11

    	 

    

 

(e)Rights
and Remedies Upon Breach. If Executive breaches or threatens to commit a breach of any of the provisions of this Section 6
(the "Restrictive Covenants"), the Company shall have the following rights and remedies, each of which rights
and remedies shall be independent of the other and severally enforceable, and all of which rights and remedies shall be in addition
to, and not in lieu of, any other rights and remedies available to the Company under law or in equity:

 

	(i)		Specific
                                         Performance. The right and remedy to have the Restrictive Covenants specifically
                                         enforced by any court having equity jurisdiction, all without the need to post a bond
                                         or any other security or to prove any amount of actual damage or that money damages would
                                         not provide an adequate remedy, it being acknowledged and agreed that any such breach
                                         or threatened breach may cause irreparable injury to the Company and that money damages
                                         may not provide adequate remedy to the Company; and

 

	(ii)		Accounting
                                         and Indemnification. The right and remedy to require Executive (A) to account for
                                         and pay over to the Company all compensation, profits, monies, accruals, increments or
                                         other benefits derived or received by Executive or any associated party deriving such
                                         benefits as a result of any such breach of the Restrictive Covenants; and (B) to indemnify
                                         the Company against any other losses, damages, costs and expenses, including reasonable
                                         attorneys' fees and court costs, which may be incurred by them and which result from
                                         or arise out of any such breach or threatened breach of the Restrictive Covenants.

(f)Severability
of Covenants/Blue Penciling. If any court determines that any of the Restrictive Covenants, or any part thereof, is invalid
or unenforceable, the remainder of the Restrictive Covenants shall not thereby be affected and shall be given full effect, without
regard to the invalid portions. If any court determines that any of the Restrictive Covenants, or any part thereof, are unenforceable
because of the duration of such provision or the area covered thereby, such court shall have the power to reduce the duration
or area of such provision and, in its reduced form, such provision shall then be enforceable and shall be enforced. Executive
hereby waives any and all right to attack the validity of the Restrictive Covenants on the grounds of the breadth of their geographic
scope or the length of their term.

(g)Enforceability
in Jurisdictions. The Company and Executive intend to and do hereby confer jurisdiction to enforce the Restrictive Covenants
upon the courts of any jurisdiction within the geographical scope of such covenants. If the courts of any one or more of such
jurisdictions hold the Restrictive Covenants wholly unenforceable by reason of the breadth of such scope or otherwise, it is the
intention of the Company and Executive that such determination not bar or in any way affect the right of the Company to the relief
provided above in the courts of any other jurisdiction within the geographical scope of such covenants, as to breaches of such
covenants in such other respective jurisdictions, such covenants as they relate to each jurisdiction being, for this purpose,
severable into diverse and independent covenants.

    	12

    	 

    

(h)Definitions.
For purposes of this Section 6, the term "Company" means not only AMP Holding Inc., but also any company,
partnership or entity which, directly or indirectly, controls, is controlled by or is under common control with AMP Holding Inc.

7.Limitation
on Benefits.

(a)               
Notwithstanding anything contained in this Agreement to the contrary, if any payment, benefit or distribution of any type to or
for the benefit of Executive by the Company or any of its affiliates, whether paid or payable, provided or to be provided, or
distributed or distributable pursuant to the terms of this Agreement or otherwise (collectively, the "Total Payments")
would be subject to the excise tax imposed under Section 4999 of the Code (the "Parachute Tax"), then if
a reduction in the Total Payments shall result in Executive receiving a greater after tax payment than if he paid the Parachute
Tax, at the election of Executive, the Total Payments shall be reduced (but not below zero) so that the maximum amount of the
Total Payments (after reduction) shall be one dollar ($1.00) less than the amount which would cause the Total Payments to be subject
to the Parachute Tax. Unless the Executive shall have given prior written notice to the Company to effectuate a reduction in the
Total Payments if such a reduction is required, which notice shall be consistent with the requirements of Section 409A to avoid
the imputation of any tax, penalty or interest thereunder, such reduction shall occur in the following order: (A) by first reducing
or eliminating the portion of the Total Payments which are not payable in cash and are not attributable to equity awards (other
than that portion of the Total Payments subject to clause (C) hereof), (B) then by reducing or eliminating cash payments (other
than that portion of the Total Payments subject to clause (C) hereof), (C) then by reducing or eliminating the portion of the
Total Payments which are not payable in cash and are attributable to equity awards, and (D) then by reducing or eliminating the
portion of the Total Payments (whether payable in cash or not payable in cash) to which Treasury Regulation § 1.280G-1 Q/A
24(c) (or successor thereto) applies, in each case in reverse order beginning with payments or benefits which are to be paid the
farthest in time. This Section 7 shall take precedence over the provisions of any other plan, arrangement or agreement governing
the Executive's rights and entitlements to any benefits or compensation.

(b)              
Any determination that Total Payments to the Executive must be reduced or eliminated in accordance with this Section 7 and the
assumptions to be utilized in arriving at such determination, shall be made by the Board in the exercise of its reasonable, good
faith discretion based upon the advice of such professional advisors it may deem appropriate in the circumstances. Such determinations
shall take into account the value of any reasonable compensation for services related to prior services provided in connection
with the Consulting Agreement and to be provided by Executive pursuant to this Agreement, including the non-competition provisions
applicable to Executive under this Agreement, provided, however, that (i) no portion of the Total Payments the receipt or enjoyment
of which the Executive shall have effectively waived in writing prior to the date of payment of the Total Payments shall be taken
into account, (ii) no portion of the Total Payments shall be taken into account, which in the opinion of the Board and its professional
advisors does not constitute a "parachute payment" within the meaning of Section
280G(b)(2) of the Code; (iii) the Total Payments shall be reduced only to the extent necessary so that the Total Payments (other
than those referred to in the immediately preceding clause (i) or (ii)) in their entirety constitute reasonable compensation for
services actually rendered within the meaning of Section 280G(b)(4) of the Code or are otherwise not subject to disallowance as
deductions, in the opinion of the professional advisors to the Company; and (iv) the value of any non-cash benefit or any deferred
payment or benefit included in the Total Payments shall be determined by the Company's independent registered public accounting
firm based on Sections 280G and 4999 of the Code and the regulations for applying those sections of the Code, or on substantial
authority within the meaning of Section 6662 of the Code. Executive and the Company shall cooperate in the valuation pursuant
to this Section 7(b), including the non-competition provisions.

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(c)As
a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Board
hereunder, it is possible that Total Payments to the Executive which will not have been made by the Company shall have been made
("Underpayment") or that Total Payments to the Executive which were made should not have been made ("Overpayment").
If an Underpayment has occurred, the amount of any such Underpayment shall be promptly paid by the Company to or for the benefit
of the Executive. In the event of an Overpayment, then the Executive shall promptly repay the Company the amount of any such Overpayment
together with interest on such amount (at the same rate as is applied to determine the present value of payments under Section
280G of the Code or any successor thereto), from the date the reimbursable payment was received by the Executive to the date the
same is repaid to the Company.

8.Insurance;
Indemnification.

(a)               
Insurance. The Company shall have the right to take out life, health, accident, "key-man" or other insurance
covering Executive, in the name of the Company and at the Company's expense in any amount deemed appropriate by the Company. Executive
shall assist the Company in obtaining such insurance, including, without limitation, submitting to any required examinations and
providing information and data required by insurance companies.

(b)              
Indemnification. Executive will be provided with indemnification against claims related to his works an officer and/or
director for the Company to the maximum extent permitted by Nevada law pursuant to the Consulting Agreement or this Agreement.
The Company shall provide Executive with directors and officers liability insurance coverage at least as favorable as that which
the Company may maintain from time to time for members of the Board and other executive officers, which policy shall provide for
insurance with customary terms and in amounts commensurate with companies of a similar nature and size to the Company. Executive
hereby acknowledges that the Company's directors and officers liability insurance coverage in place on the date of this Agreement
satisfies the requirement in the prior sentence.

9.General
Relationship. Executive shall be considered an employee of the Company within the meaning of all federal, state and local
laws and regulations including, but not limited to, laws and regulations governing unemployment insurance, workers' compensation,
industrial accident, labor and taxes.

    	14

    	 

    

 10.Miscellaneous.

(a)               
Modification; Prior Claims. This Agreement sets forth the entire understanding of the parties with respect to the subject
matter hereof, supersedes all existing agreements between them concerning such subject matter, including, without limitation,
the Consulting Agreement. For the sake of clarity, any Stock Awards agreements to which the Company and Executive are bound on
the date hereof shall remain in effect in accordance with their respective terms, except as modified by Section 5. This Agreement
may be amended or modified only with the written consent of Executive and an authorized representative of the Company. No oral
waiver, amendment or modification will be effective under any circumstances whatsoever.

(b)              
Assignment; Assumption by Successor. The rights of the Company under this Agreement may, without the consent of Executive,
be assigned by the Company, in its sole and unfettered discretion, to any person, firm, corporation or other business entity which
at any time, whether by purchase, merger or otherwise, directly or indirectly, acquires all or substantially all of the assets
or business of the Company. The Company will require any successor (whether direct or indirect, by purchase, merger or otherwise)
to all or substantially all of the business or assets of the Company expressly to assume and to agree to perform this Agreement
in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place;
provided, however, that no such assumption shall relieve the Company of its obligations hereunder. As used in this Agreement,
the "Company" shall mean the Company as hereinbefore defined and any successor to its business and/or assets
as aforesaid which assumes and agrees to perform this Agreement by operation of law or otherwise, except as otherwise defined
in Section 6(g).

(c)               
Survival. The covenants, agreements, representations and warranties contained in or made in Sections 3(g), 3(h), 5, 6,
7, 8 and 10 of this Agreement shall survive any termination of Executive's employment.

(d)              
Third-Party Beneficiaries. This Agreement does not create, and shall not be construed as creating, any rights enforceable
by any person not a party to this Agreement.

(e)               
Waiver. The failure of either party hereto at any time to enforce performance by the other party of any provision of this
Agreement shall in no way affect such party's rights thereafter to enforce the same, nor shall the waiver by either party of any
breach of any provision hereof be deemed to be a waiver by such party of any other breach of the same or any other provision hereof.

(f)               
Section Headings. The headings of the several sections in this Agreementare inserted solely for the convenience of the
parties and are not a part of and are not intended to govern, limit or aid in the construction of any tenn or provision hereof.

    	15

    	 

    

 

(g)              
Notices. Any notice required or permitted by this Agreement shall be in writing and shall be delivered as follows with
notice deemed given as indicated: (i) by personal delivery when delivered personally; (ii) by overnight courier upon written verification
of receipt; (iii) by email, telecopy or facsimile transmission upon acknowledgment of receipt of electronic transmission; or (iv)
by certified or registered mail, return receipt requested, upon verification of receipt. Notice shall be sent to Executive at
the address listed on the Company's personnel records and to the Company at its principal place of business, or such other address
as either party may specify in writing.

(h)              
Severability. All Sections, clauses and covenants contained in this Agreement are severable, and in the event any of them
shall be held to be invalid by any court, this Agreement shall be interpreted as if such invalid Sections, clauses or covenants
were not contained herein.

(i)                
Governing Law; Arbitration. This Agreement shall be governed by, and construed in accordance with and subject to, the laws
of the State of Ohio applicable to agreements made and to be performed entirely within such state without regard to its conflicts
of law rules. All claims and disputes arising under or relating to this Agreement are to be settled by binding arbitration in
the state of Ohio or another location mutually agreeable to the parties. The arbitration shall be conducted on a confidential
basis pursuant to the Commercial Arbitration Rules of the American Arbitration Association. Any decision or award as a result
of any such arbitration proceeding shall be in writing and shall provide an explanation for all conclusions of law and fact and
shall include the assessment of costs, expenses, and reasonable attorneys' fees. Any such arbitration shall be conducted by an
arbitrator experienced in employment issues and shall include a written record of the arbitration hearing. The parties reserve
the right to object to any individual who shall be employed by or affiliated with a competing organization or entity. An award
of arbitration may be confirmed in a court of competent jurisdiction.

(j)
Jurisdiction and Venue.

	(i)		Subject
                                         to Section 10(i) above, the Company and the Executive hereby irrevocably and unconditionally
                                         submit, for themselves and their property, to the exclusive jurisdiction of any Ohio
                                         State court or federal court of the United States of America sitting in the State of
                                         Ohio and any appellate court from any thereof, in any action or proceeding arising out
                                         of or relating to this Agreement or for recognition or enforcement of any judgment, and
                                         the Company and the Executive hereby irrevocably and unconditionally agree that all claims
                                         in respect of any such action or proceeding may be heard and determined in any such Ohio
                                         State court or, to the extent permitted by law, in such federal court. The Company and
                                         the Executive irrevocably waive, to the fullest extent permitted by law, the defense
                                         of an inconvenient forum to the maintenance of such action or proceeding in any such
                                         court. The Company and the Executive agree that a final judgment in any such action or
                                         proceeding shall be conclusive and may be enforced
                                         in other jurisdictions by suit on the judgment or in any other manner provided by law.
                                         The Executive and Company agree not to commence a claim or proceeding hereunder in a
                                         court other than a Ohio State court or federal court located in the State of Ohio, except
                                         if such claim or proceeding is first brought in such Ohio State court or federal court
                                         located in the State of Ohio, and such court or courts have denied jurisdiction over
                                         such claim or proceeding.

 

 

    	16

    	 

    

 

 

	(ii)		The
                                         Company and the Executive irrevocably and unconditionally

                                         waive, to the fullest extent they may legally and effectively do so, any objection that
                                         they may now or hereafter have to the laying of venue of any suit, action or proceeding
                                         arising out of or relating to this Agreement in any Ohio State court or federal court
                                         of the United States of America sitting in the State of Ohio and any appellate court
                                         from any thereof.
	 	 	 

	(iii)		The
                                         parties further agree that the mailing by certified or registered mail, return receipt
                                         requested to both (x) the other party and (y) counsel for the other party (or such substitute
                                         counsel as such party may have given written notice of prior to the date of such mailing),
                                         of any process required by any such court shall constitute valid and lawful service of
                                         process against them, without the necessity for service by any other means provided by
                                         law. Notwithstanding the foregoing, if and to the extent that a court holds such means
                                         to be unenforceable, each of the parties' respective counsel (as referred to above) shall
                                         be deemed to have been designated agent for service of process on behalf of its respective
                                         client, and any service upon such respective counsel effected in a manner which is permitted
                                         by Ohio law shall constitute valid and lawful service of process against the applicable
                                         party.

(k)Non-transferability
of Interest. None of the rights of Executive to receive any form of compensation payable pursuant to this Agreement shall
be assignable or transferable except through a testamentary disposition or by the laws of descent and distribution upon the death
of Executive. Any attempted assignment, transfer, conveyance, or other disposition (other than as aforesaid) of any interest in
the rights of Executive to receive any form of compensation to be made by the Company pursuant to this Agreement shall be void.

(I)Gender.
Where the context so requires, the use of the masculine gender shall include the feminine and/or neuter genders and the singular
shall include the plural, and vice versa, and the word "person" shall include any corporation, firm, partnership or
other form of association.

 

    	17

    	 

    

(m)            
Counterparts. The parties may execute this Agreement in multiple counterparts, each of which constitutes an original as
against the party that signed it, and both of which together constitute one agreement. The signatures of both parties need not
appear on the same counterpart. In the event that any signature is delivered by facsimile transmission or by an e-mail which contains
a portable document format (.pdf) file of an executed signature page, such signature page shall create a valid and binding obligation
of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page
were an original thereof.

(n)              
Construction. The language in all parts of this Agreement shall in all cases be construed simply, according to its fair
meaning, and not strictly for or against any of the parties hereto. Without limitation, there shall be no presumption against
any party on the ground that such party was responsible for drafting this Agreement or any part thereof.

(o)              
Withholding and other Deductions. All compensation payable to Executive hereunder shall be subject to such deductions as
the Company is from time to time required to make pursuant to law, governmental regulation or order.

(p)              
Code Section 409A.

		(i)	The
                                         provisions of Section 5 of this Agreement are not intended to provide for any deferral
                                         of compensation subject to Section 409A of the Code, and, accordingly, the severance
                                         payments payable under Sections 5(c)(ii) and (iii) and 5(e)(i), (ii) and (iii) shall
                                         be paid in accordance with such provisions, but in no event later than the later of:
                                         (A) the fifteenth (15th) day of the third month following Executive's first taxable year
                                         in which such severance benefit is no longer subject to a substantial risk of forfeiture,
                                         and (B) the fifteenth (15th) day of the third month following first taxable year of the
                                         Company in which such severance benefit is no longer subject to substantial risk of forfeiture,
                                         as determined in accordance with Code Section 409A and any Treasury Regulations and other
                                         guidance issued thereunder. To the extent applicable, this Agreement shall be interpreted
                                         in accordance with Code Section 409A and Department of Treasury regulations and other
                                         interpretive guidance issued thereunder.

		(ii)	If
                                         the Executive is a "specified employee" (as defined in Section 409A of the
                                         Code), as determined by the Company in accordance with Section 409A of the Code, on the
                                         date of the Executive's Separation from Service, to the extent that the payments or benefits
                                         under this Agreement are subject to Section 409A of the Code and the delayed payment
                                         or distribution of all or any portion of such amounts to which Executive is entitled
                                         under this Agreement is required in order to avoid a prohibited distribution under Section
                                         409A(a)(2)(B)(i) of the Code, then such portion deferred pursuant to this Section 9(p)(ii)
                                         shall be paid or distributed to Executive in a lump sum on the earlier of (A) the date
                                         that is six (6) months following Executive's Separation from Service, (B) the date of
                                         Executive's death or (C) the earliest date as is permitted under Section 409A of the
                                         Code. Any remaining payments due under the Agreement shall be paid as otherwise provided
                                         herein.

	(iii)		To
                                         the extent applicable, this Agreement shall be interpreted in accordance with the applicable
                                         exemptions from Section 409A of the Code. If Executive and the Company determine that
                                         any payments or benefits payable under this Agreement intended to comply with Sections
                                         409A(a)(2), (3) and (4) of the Code do not comply with Section 409A of the Code, Executive
                                         and the Company agree to amend this Agreement, or take such other actions as Executive
                                         and the Company deem reasonably necessary or appropriate, to comply with the requirements
                                         of Section 409A of the Code and the Treasury Regulations thereunder (and any applicable
                                         transition relief) while preserving the economic agreement of the parties. To the extent
                                         that any provision in this Agreement is ambiguous as to its compliance with Section 409A
                                         of the Code, the provision shall be read in such a manner that no payments payable under
                                         this Agreement shall be subject to an "additional tax" as defined in Section
                                         409A(a)(1)(B) of the Code.

	(iv)		Any
                                         reimbursement of expenses or in-kind benefits payable under this Agreement shall be made
                                         in accordance with Treasury Regulation Section 1.409A-3(i)(1)(iv) and shall be paid on
                                         or before the last day of Executive's taxable year following the taxable year in which
                                         Executive incurred the expenses. The amount of expenses reimbursed or in-kind benefits
                                         payable in one year shall not affect the amount eligible for reimbursement or in-kind
                                         benefits payable in any other taxable year of Executive's, and Executive's right to reimbursement
                                         for such amounts shall not be subject to liquidation or exchange for any other benefit.

	(v)		In
                                         the event that the amounts payable under Sections 5(c)(ii) and (iii) and 5(e)(i), (ii)
                                         and (iii) are subject to Section 409A of the Code and the timing of the delivery of Executive's
                                         Release could cause such amounts to be paid in one or another taxable year, then notwithstanding
                                         the payment timing set forth in such sections, such amounts shall not be payable until
                                         the later of (A) the payment date specified in such Section or (B) the first business
                                         day of the taxable year following Executive's Separation from Service.

[Signature
page follows]

    	18

    	 

    

 

 

IN
WITNESS WHEREOF, the undersigned, intending to be legally bound, have executed this Agreement as of the date first written above.

 

	EXECUTIVE:	 	AMP HOLDING INC.
	 	 	 
	/s/ Marshall S. Cogan	 	
	Marshall S. Cogan	 	Name: Stephen S. Bums
	 	 	Title: Chief Executive Officer

 

    	19

    	 

    

IN
WITNESS WHEREOF, the undersigned, intending to be legally bound, have executed this Agreement as of the date first written above.

 

	EXECUTIVE:	 	AMP HOLDING INC.
	 	 	 
		 	/s/ Stephen S. Bums
	Marshall S. Cogan	 	Name: Stephen S. Bums
	 	 	Title: Chief Executive Officer

20

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