Document:

Exhibit
10.6

 

ZEV VENTURES INCORPORATED.

 

September
28, 2018 

 

Mr.
Stewart Kantor

 

Re:  Employment Agreement

 

Dear
Mr. Kantor:

 

This
letter agreement (the “Letter Agreement”) constitutes an offer of employment on behalf of Zev Ventures
Incorporated, a Nevada corporation (the “Company”) to the undersigned individual (the “Executive”
or “Employee”). Subject to your acceptance this Letter Agreement shall commence upon the date of this
Letter Agreement (the “Effective Date”). The terms of this offer are as set forth below:

 

1.            Position.
The Executive shall serve as the Company’s President. The Executive’s responsibilities shall be determined by board
of directors of the Company. The Executive shall devote his full time, attention and ability to the business of the Company, shall
well and faithfully serve the Company, and shall use his best efforts to promote the interests of the Company. His duties
shall include all those duties customarily performed by the President. The Executive understands that his duties may involve
significant travel from his place of employment (both within and outside the country in which that place is located), and he agrees
to travel as reasonably required in order to fulfill his duties.

 

The
Executive agrees that he shall not accept any other appointments to the board of directors of any other entity without first obtaining
the written approval of Company, which approval shall not be unreasonably withheld.

 

2.            Compensation
In connection with Executive’s employment, the Company will pay the following salary and other compensation:

 

(a)          Salary.
Executive will be paid a base salary at the annual rate of $200,000.00 (“Base Salary”), payable in accordance with
the Company’s standard payroll practices.

 

(b)  
       Other Compensation. Executive will be eligible to participate in the benefit
plans established for Company employees, including group life, health, and dental coverage (“Plan Benefits”); in each
case to the same extent and in the same manner as other similarly situated executives.

 

(c)          Right
to Change Plans. Nothing in this letter will be construed to limit, condition or otherwise encumber the Company’s right
to amend, discontinue, substitute or maintain any employee benefits plan, program or perquisite.

 

(d)
        Vacation/Paid Holidays. Executive shall accrue vacation at the rate of
21 days for each calendar year, subject to the terms of the Company’s vacation policy. Executive shall be compensated at
the usual rate of base compensation for any vacation and shall also be entitled to paid Company Holidays as generally given by
the Company. Company Holidays are currently defined as New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving
Day, the day after Thanksgiving Day, Christmas Day, and two floating holidays each year - one of which is Company designated and
the second which is by employee choice.

 

     

    

    

 

All
payments in this Section 2 shall be subject to all required federal, state, and local withholding taxes. 

 

3.            Expense
Reimbursement. Executive shall be entitled to reimbursement for ordinary, necessary and reasonable out-of-pocket trade
or business expenses incurred in connection with performance of duties under this Letter Agreement. The reimbursement of all such
expenses shall be made upon presentation of evidence reasonably satisfactory to the Company of the amounts and nature of such
expenses and shall be subject to the reasonable approval of the Company’s executive officers or Board of Directors.

 

4.            Additional
Agreements; Non-compete; Non-solicitation. Executive is expected to abide by Company rules and regulations, including
its social media policy and insider trading policy, from time to time in force which are brought to his notice. Executive will
be specifically required to sign an acknowledgement that he has read and understands the Company’s social media policy.
He will also be expected to sign and comply with the Employment, Non-competition, Confidential Information and Intellectual Property
Assignment Agreement attached as Exhibit B, which requires, among other things, the assignment of rights to any
intellectual property made during Executive’s association with the Company, and non-disclosure of proprietary information.

 

5.            At-Will
Employment. Executive’s employment with the Company will be “at will,” meaning that both he and
the Company will be entitled to terminate his employment at any time and for any reason, with or without cause. Any contrary representations
that may have been made are superseded by this Letter Agreement. This is the full and complete agreement between Executive and
the Company regarding his employment. Although Executive’s job duties, title, compensation and benefits, as well as the
Company’s human resources policies and procedures, may change from time to time, the “at will” nature
of his employment may only be changed in an expressed written agreement signed by Executive and a duly authorized officer of the
Company.

 

(a)          Termination
for Cause. The Company may terminate Executive’s employment at any time for Cause. As used herein, “Cause”
is defined to mean (I) if Executive has been convicted of, or has pleaded guilty or nolo contendere to, any felony or a crime
involving moral turpitude; (II) if Executive has engaged in willful misconduct or materially failed or refused to perform the
duties reasonably assigned or has performed such duties with evidenced gross negligence or has breached any terms or conditions
of his agreements with the Company, and, following 10 days written notice of such conduct, failed to cure it; or (III) if Executive
has committed any fraud, embezzlement, misappropriation of funds, breach of fiduciary duty or other act of dishonesty against
the Company. Upon termination for Cause, the Company will pay Executive his (i) Base Salary accrued through the date of termination,
(ii) accrued and unused vacation through the date of termination, (iii) any unreimbursed business expenses incurred through the
date of termination (and otherwise payable in accordance with the Company’s expense reimbursement policy), and (iv) all
benefits accrued and vested through the date of termination pursuant to the Company’s employee benefit plans in which he
then participated (the “Accrued Obligations”) up to the date of the notice of termination, which date
shall be for all purposes of this Letter Agreement the date of termination of Executive’s employment. The Company will not
have any other compensation obligations to Executive.

 

(b)          Termination
other than Death or Cause. The Company may terminate Executive’s employment for any reason not described in Section
5(a), including Disability, at any time by giving written notice thereof, and the date on which he received such notice will be
his date of termination. Upon such a termination, the Company will provide him with the compensation described in Section 6.

 

     

    

    

 

“Disability”
means an injury, or physical or mental illness or incapacity of such character as to substantially disable Executive from performing
his duties hereunder for a period of more than (6) months in the aggregate during any twelve (12) month period.

 

(c)          Constructive
Termination. Executive may terminate his employment for Constructive Termination (as defined below) by giving the Company
written notice thereof 30 days in advance of such effective date, which effective date shall be the date of termination; provided,
however, in the event he fails to give such notice within 90 days after the occurrence of an event constituting Constructive Termination,
he will be deemed to have waived his right to terminate employment for Constructive Termination. Upon such a termination, the
Company will provide Executive with the compensation described in Section 6. Absent Executive’s expressed agreement to the
contrary, the term “Constructive Termination” means:

 

(i)         a
reduction in Executive’s Base Salary;

 

(ii)        if
Executive is subjected to discrimination, harassment or abuse as a result of race, color, religion, creed, sex, age, national
origin, sexual orientation or disability;

 

(iii)       a
failure of a successor of the Company to assume the obligations of this agreement;

 

(iv)       a
material breach by the Company of this agreement;

 

provided
that, in each such case, the Company has 15 days following receipt of such written notice from Executive to cure. For purposes
of this Section, an isolated, immaterial and inadvertent action not taken in bad faith by the Company that is remedied by the
Company promptly after receipt of written notice thereof given by Executive will not be considered Constructive Termination.

 

(d)          Voluntary
Termination. Executive may terminate his employment at any time for a reason other than Constructive Termination, and the
effective date of termination will be the date on which such notice is received by the Company. The Company will pay Executive
the Accrued Obligations through the date of termination. The Company will have no other obligations to Executive.

 

(e)          Board.
The termination of Executive’s employment hereunder for any reason shall automatically be deemed as Executive’s resignation
from the Board of Directors of the Company and any affiliates without any further action, except when the Board shall, in writing,
request a continuation of duty as a Director in its sole discretion.

 

6.            Severance
Compensation. Notwithstanding the above if (i) Executive is terminated by the Company without Cause, (ii) Executive terminates
his employment due to Constructive Termination, or (iii) Executive’s employment terminates as a result of his Disability,
the Company will provide Executive the following compensation:

 

(a)          The
Company will pay Executive (i) the Accrued Obligations through the date of termination, and (ii) Executive’s continued Base
Salary and Plan Benefits on a monthly basis for a period of twelve (12) months, following the date of termination. If Executive
is eligible to receive disability payments pursuant to a disability insurance policy paid for by the Company, Executive shall
assign such benefits to the Company for all periods as to which he is receiving payment under this Letter Agreement.

 

     

    

    

 

(b)          The
provision of the foregoing severance is conditioned upon receipt from Executive of a signed general release and non-disparagement
agreement (the “Waiver and Release of Claims” in the form attached hereto as Exhibit A)
and Executive’s continued compliance with the terms of this Letter Agreement.

 

7.            Termination
by Virtue of Death. In the event of Executive’s death while employed pursuant to this Agreement, all obligations
of the parties hereunder shall terminate immediately, and the Company shall, pursuant to the Company’s standard payroll
policies, pay to Executive’s legal representatives the Accrued Obligations and any vested benefits that Executive or his
estate, may be entitled to receive under any Company disability or insurance plan or other applicable employee benefit plan.

 

8.            Outside
Activities During Employment; No Conflicting Obligations. In addition to any obligations contained in the Employment,
Non-competition, Confidential Information and Intellectual Property Assignment Agreement attached as Exhibit B so
long as Executive renders services to the Company, he will not assist any person or organization in competing with the Company,
or in preparing to compete with the Company. Executive represents and warrants to the that he is under no obligations or commitments,
whether contractual or otherwise, that are inconsistent with his obligations under this Letter Agreement. Executive represents
and warrants that he will not use or disclose, in connection with his employment with the Company, any trade secrets or other
proprietary information or intellectual property in which he or any other person has any right, title or interest and that his
employment will not infringe or violate the rights of any other person. Executive represents and warrants to the Company that
he has returned all property and confidential information belonging to any prior employer.

 

9.            Withholding
Taxes. All forms of compensation referred to in this Letter Agreement are subject to reduction to reflect applicable withholding
and payroll taxes.

 

10.          Entire
Agreement. This Letter Agreement and the agreements referred to in this Letter Agreement contain all of the terms of Executive’s
employment with the Company and supersede any prior understandings or agreements, whether oral or written, between he and the
Company.

 

11.          Amendment.
This Letter Agreement may not be amended or modified except by an expressed written agreement signed by Executive and a duly authorized
officer of the Company.

 

12.          Dispute
Resolution; Governing Law.

 

(a)          This
Letter Agreement shall be construed and enforced in accordance with the internal laws of the State of Nevada applicable to contracts
wholly executed and performed therein without regard to any conflicts of laws rules.

 

     

    

    

 

(b)          If
any dispute between the parties arising under this Letter Agreement cannot reasonably be resolved by the Parties through mutual
negotiation, the Parties hereto agree that the claim or dispute including the arbitrability of the Letter Agreement will be submitted
to and decided by binding arbitration under the Commercial Rules of the American Arbitration Association, except to the extent
that the Commercial Rules conflict with this provision, in which event, this Letter Agreement shall control. This arbitration
provision shall not limit the right of either Party prior to or during any such Dispute to seek, use, and employ ancillary, or
preliminary rights and/or remedies, judicial or otherwise, for the purpose of maintaining the status quo until such time as the
arbitration award is rendered or the Dispute is otherwise resolved. Within ten (10) calendar days of service of a Demand for Arbitration,
the Parties shall agree upon a sole arbitrator, or if a sole arbitrator cannot be agreed upon within ten (10) calendar days, then
either Party may apply to any judge in any court of competent jurisdiction in the city of Santa
Clara County, California for appointment of the arbitrator. The arbitrator(s) shall have the authority only to award equitable
relief and compensatory damages and shall not have the authority to award punitive damages or other non-compensatory damages.
The arbitrator shall have the right to award costs including expenses and attorneys’ fee incurred in connection with these
dispute resolution procedures and the fees, expenses and costs incurred by the arbitrator. The decision of the arbitrator(s) shall
be final and binding and may not be appealed. Any party may apply to any court having jurisdiction to enforce the decision of
the arbitrator(s) and to obtain a judgment thereon. All arbitration proceedings held pursuant to this Letter Agreement shall be
held in Sunnyvale, California. The discovery provision of the California Rules of Civil Procedure in effect at the time of arbitration
shall be deemed incorporated herein for the purpose of such arbitration proceedings. Either Party, at its sole discretion, may
consolidate an arbitration conducted under this Letter Agreement with any other arbitration to which it is a party provided that
(i) the arbitration agreement governing the other arbitration permits consolidation, (ii) the arbitrations to be consolidated
substantially involve common questions of law or fact, and (iii) the arbitrations employ materially similar procedural rules and
methods for selecting arbitrator(s). This agreement to arbitrate waives any right to trial by jury.

 

(c)          Equitable
Remedies. Each of the Company and Executive agree that disputes relating to or arising out of a breach of the covenants
contained in this Letter Agreement would likely require injunctive relief to maintain the status quo of the parties pending the
appointment of an arbitrator pursuant to this Letter Agreement. The parties hereto also agree that it would be impossible or inadequate
to measure and calculate the damages from any breach of the covenants contained in this Letter Agreement prior to resolution of
any dispute pursuant to arbitration. Accordingly, if either party claims that the other party has breached any covenant of this
Intellectual Property Agreement, that party will have available, in addition to any other right or remedy, the right to obtain
an injunction from a court of competent jurisdiction restraining such breach or threatened breach and/or to specific performance
of any such provision of this Letter Agreement pending resolution of the dispute through arbitration. The parties further agree
that no bond or other security shall be required in obtaining such equitable relief and hereby consents to the issuance of such
injunction and to the ordering of specific performance. However, upon appointment of an arbitrator, the arbitrator shall review
any interim, injunctive relief granted by a court of competent jurisdiction and shall have the discretion, jurisdiction, and authority
to continue, expand, or dissolve such relief pending completion of the arbitration of such dispute or controversy. The parties
agree that any orders issued by the arbitrator may be enforced by any court of competent jurisdiction if necessary to ensure compliance
by the parties.

 

     

    

    

 

13.          Code
Section 409 This Letter Agreement is intended to comply with Section 409A of the Internal Revenue Code, and the interpretative
guidance thereunder, including the exceptions for short-term deferrals, separation pay arrangements, reimbursements, and in-kind
distributions, and shall be administratively administered accordingly. Executive hereby agrees that the Company may, without further
consent from Executive, make the minimum changes to this Letter Agreement as may be necessary or appropriate to avoid the imposition
of additional taxes or penalties on him pursuant to Section 409A of the Code. The Company cannot guarantee that the payments and
benefits that may be paid or provided pursuant to this Letter Agreement will satisfy all applicable provisions of Section 409A
of the Code. In the case of any reimbursement payment which is required to be made promptly under this Letter Agreement, such
payment will be made in all instances no later than December 31, of the calendar year following the calendar year in which the
obligation to make such reimbursement arises. Notwithstanding the foregoing, if any payments or benefits under this Letter Agreement
become subject to Section 409A of the Code, then for the purpose of complying therewith, to the extent such payments or benefits
do not satisfy the separation pay exemption described in Treasury Regulation § 1.409A-1(b)(9)(iii) or any other exemption
available under Section 409A of the Code (the “Non-Exempt Payments”), if Executive is a specified employee as described
in Treasury Regulation § 1.409A-1(i) on the date of termination, any amount of such Non-Exempt Payments which would be paid
prior to the six-month anniversary of the date of termination shall instead be accumulated and paid in a lump sum payment within
five (5) business days after such six-month anniversary.

 

REMAINDER
OF THIS PAGE INTENTIONALLY LEFT BLANK

 

     

    

    

 

This
Letter Agreement shall be deemed effective when signed below by the Executive.

	 	 	 	 	 
	 	Very
    truly yours,
	 	 
	 	ZEV
    VENTURES INCORPORATED.
	 	 
	 	By:	/s/
                                         Eric Brock
	 	 	 	 
	 	Name:	Eric
Brock
	 	 	 
	 	Title:	Chief
Executive Officer

 

I
have read and accept this employment offer:

 

	/s/ Stewart Kantor	 
	Stewart
    Kantor	 

 

Dated:
September 28, 2018

 

     

    

    

 

EXHIBIT A

 

ZEV
VENTURES INCORPORATED

 

Waiver
and Release of Claims

 

 

I
understand that this Release Agreement (“Release”), constitutes the complete, final and exclusive embodiment of the
entire agreement between Zev Ventures Incorporated (the “Company”) and me with regard to the subject matter hereof.
I am not relying on any promise or representation by the Company that is not expressly stated herein.

 

In
consideration of benefits I will receive under my employment agreement with the Company, I hereby release, acquit and forever
discharge the Company, its parents and subsidiaries, and their officers, directors, agents, servants, employees, shareholders,
attorneys, successors, assigns and affiliates, of and from any and all claims, liabilities, demands, causes of action, costs,
expenses, attorneys fees, damages, indemnities and obligations of every kind and nature, in law, equity, or otherwise, known and
unknown, suspected and unsuspected, disclosed and undisclosed (other than any claim for indemnification I may have as a result
of any third party action against me based on my employment with, or service as a director of, the Company), arising out of or
in any way related to agreements, events, acts or conduct at any time prior to and including the date I execute this Release,
including, but not limited to: all such claims and demands directly or indirectly arising out of or in any way connected with
my employment with the Company or the termination of my employment, including but not limited to, claims of intentional and negligent
infliction of emotional distress, any and all tort claims for personal injury, claims or demands related to salary, bonuses, commissions,
stock, stock options, or any other equity or ownership interests in the Company, vacation pay, fringe benefits, expense reimbursements,
severance pay, or any other form of compensation; claims pursuant to any federal, state or local law or cause of action.

 

I
acknowledge that I am knowingly and voluntarily waiving and releasing any rights I may have under the ADEA. I also acknowledge
that the consideration given under the Agreement for the waiver and release in the preceding paragraph hereof is in addition to
anything of value to which I was already entitled. I further acknowledge that I have been advised by this writing, as required
by the ADEA, that: (A) my waiver and release do not apply to any rights or claims that may arise after the date I execute this
Release; (B) I have the right to consult with an attorney prior to executing this Release; (C) I have twenty-one (21) days to
consider this Release (although I may choose to voluntarily execute this Release earlier); (D) I have seven (7) days following
my execution of this Release to revoke the Release; and (E) this Release shall not be effective until the date upon which the
revocation period has expired, which shall be the eighth (8th) day after I execute this Release (provided that I have
returned it to the Company by such date).

 

I
acknowledge that in certain States the laws provide language similar to the following: “A general release does not extend
to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known
by him must have materially affected his settlement with the debtor.” I hereby expressly waive and relinquish all rights
and benefits under that section and any law of any jurisdiction of similar effect with respect to my release of any claims I may
have against the Company, its affiliates, and the entities and persons specified above.

 

[Signature Page to Waiver and Release of Claims]

 

     

    

    

 

I
will not in any way publicly disparage, call into disrepute, defame, slander or otherwise criticize the Company or such its subsidiaries,
affiliates, successors, assigns, officers, directors, employees, shareholders, agents, attorneys or representatives, or any of
their products or services, in any manner that would damage the business or reputation of the Company, their products or services
or their subsidiaries, affiliates, successors, assigns, officers, directors, employees, shareholders, agents, attorneys or representatives.

 

	Employee 	 	 

 

	Date: 	 	 

 

     

    

    

 

EXHIBIT
B

 

ZEV
VENTURES INCORPORATED

 

Employment,
Non-Competition, Confidential Information and Intellectual Property Assignment Agreement

 

As
a condition of my employment with Zev Ventures Incorporated, its subsidiaries, affiliates, successors or assigns (together, the
“Company”), and in consideration of my employment with the Company and my receipt of the compensation
now and hereafter paid to me by Company, I (sometimes referred to as the “Second Party”) agree to the following terms
under this Employment, Confidential Information and Intellectual Property Assignment Agreement (the “Intellectual
Property Agreement”):

 

1.           Employment.

 

(a)          I
understand and acknowledge that my employment with the Company is for an unspecified duration and constitutes “at-will”
employment. I acknowledge that this employment relationship may be terminated at any time, with or without good cause or for any
or no cause, at the option either of the Company or myself, with or without notice.

 

(b)          I
agree that, during the term of my employment with the Company, I will not engage in any other employment, occupation, consulting
or other business activity related to the business in which the Company is now involved or becomes involved during the term of
my employment.

 

(c)
“Competitive Business” means any business that supplies products or services competitive with those then supplied
by the Company or which the Company was contemplating supplying when the Employee was employed by the Company.

 

“Employment
Period” means the period during which the Employee is employed by the Company.

 

“Termination
Date” means the date that the Employee’s employment with the Company is terminated, for any reason, in accordance
with the Letter Agreement.

 

Non-Competition.
I acknowledge that employment by the Company will give me access to the Confidential Information, and that my knowledge of
the Confidential Information will enable me to put the Company at a significant competitive disadvantage if I am employed or engaged
by or become involved in a Competitive Business. Accordingly, during the Employment Period and for one year after the Termination
Date I will not, directly or indirectly, individually or in partnership or in conjunction with any other Person:

 

(i)
be engaged, directly or indirectly, in any manner whatsoever, including, without limitation, either individually or in partnership,
jointly or in conjunction with any other person, or as an employee, consultant, adviser, principal, agent, member or proprietor
in any Competitive Business;

 

(ii)
be engaged, directly or indirectly, in any manner whatsoever, including, without limitation, either individually or in partnership,
jointly or in conjunction with any other person, or as an employee, consultant, adviser, principal, agent, member or proprietor
in any Competitive Business in a capacity in which the loyal and complete fulfilment of my duties to that Competitive Business
would (i) inherently require that I use, copy or transfer Confidential Information, or (ii) make beneficial any use, copy or transfer
of Confidential Information; or

 

     

    

    

 

(iii)
advise, invest in, lend money to, guarantee the debts or obligations of, or otherwise have any other financial or other interest
(including an interest by way of royalty or other compensation arrangements) in or in respect of any Person which carries on a
Competitive Business.

 

The
restriction in this Subsection 1(c) will not prohibit me from holding not more than 5% of the issued shares of a public company
listed on any recognized stock exchange or traded on any bona fide “over the counter” market anywhere in the
world.

 

2.           Confidential
Information.

 

(a)          Company
Information. I agree at all times during the term of my employment (my “Relationship with the Company”)
and thereafter to hold in strictest confidence, and not to use except for the benefit of the Company or to disclose to any person,
firm or corporation without written authorization of the Board of Directors of the Company, any Confidential Information of the
Company. I understand that “Confidential Information” means any Company proprietary information, technical
data, trade secrets or know-how, including, but not limited to, research, product plans, products, services, customer lists and
customers (including, but not limited to, customers and suppliers of the Company on whom I called or with whom I became acquainted
during the term of my Relationship with the Company), markets, works of original authorship, photographs, negatives, digital images,
software, computer programs, know-how, ideas, developments, inventions (whether or not patentable), processes, formulas, technology,
designs, drawings, engineering, hardware configuration information, forecasts, strategies, marketing, finances or other business
information disclosed to me by the Company either directly or indirectly in writing, orally or by drawings or observation or inspection
of parts or equipment. Notwithstanding the foregoing, I further understand that Confidential Information will not include any
information which (i) was publicly known and made generally available in the public domain prior to the time of disclosure by
the disclosing party; (ii) becomes publicly known and made generally available after disclosure by the Company to the Second Party
through no action or inaction of the Second Party; (iii) is already in the possession of the Second Party at the time of disclosure
as shown by the Second Party’s files and records prior to the time of disclosure; (iv) is obtained by the Second Party from
a third party without a breach of such third party’s obligations of confidentiality; (v) is independently developed by the
Second Party without use of or reference to the Company’s Confidential Information, as shown by documents and other competent
evidence in the Second Party’s possession; or (vi) is required by law to be disclosed by the Second Party, provided that
such party will give the Company written notice of such requirement prior to disclosing so that the Company may seek a protective
order or other appropriate relief.

 

(b)          Other
Employer Information. I agree that I will not, during my Relationship with the Company, improperly use or disclose any
proprietary information or trade secrets of any former or concurrent employer or other person or entity and that I will not bring
onto the premises of the Company any unpublished document or proprietary information belonging to any such employer, person or
entity unless consented to in writing by such employer, person or entity.

 

(c)          Third
Party Information. I recognize that the Company has received and, in the future, will receive from third parties their
confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such
information and to use it only for certain limited purposes. I agree to hold all such confidential or proprietary information
in the strictest confidence and not to disclose it to any person, firm or corporation or to use it except as necessary in carrying
out my work for the Company consistent with the Company’s agreement with such third party.

 

     

    

    

 

3.            Intellectual
Property.

 

(a)          Assignment
of Intellectual Property. I agree that I will promptly make full written disclosure to the Company, will hold in trust
for the sole right and benefit of the Company, and hereby assign to the Company, or its designee, all my right, title, and interest
in and to any original works of authorship, inventions, concepts, improvements or trade secrets, whether or not patentable or
registrable under copyright or similar laws, which I may solely or jointly conceive or develop or reduce to practice, or cause
to be conceived or developed or reduced to practice, during the period of time I am in the service of the Company (collectively
referred to as “Intellectual Property”) and which (i) are developed using the equipment, supplies, facilities
or Confidential Information of the Company, (ii) result from or are suggested by work performed by me for the Company, or (iii)
relate to the business, or to the actual or demonstrably anticipated research or development of the Company. The Intellectual
Property will be the sole and exclusive property of the Company. I further acknowledge that all original works of authorship which
are made by me (solely or jointly with others) within the scope of and during the period of my Relationship with the Company and
which are protectable by copyright are “works made for hire,” as that term is defined in the United States Copyright
Act. To the extent any Intellectual Property is not deemed to be work for hire, then I will and hereby do assign all my right,
title and interest in such Intellectual Property to the Company, except as provided in Section 3(e).

 

(b)          Exception
to Assignments. I understand that the provisions of this Intellectual Property Agreement requiring assignment of Intellectual
Property to the Company are limited to Section 2870 of the California Labor Code, which is attached hereto as Appendix A,
and do not apply to any intellectual property that (i) I develop entirely on my own time; and (ii) I develop without using
Company equipment, supplies, facilities, or trade secret information; and (iii) do not result from any work performed by
me for the Company; and (iv) do not relate at the time of conception or reduction to practice to the Company’s current
or anticipated business, or to its actual or demonstrably anticipated research or development. Any such intellectual property
will be owned entirely by me, even if developed by me during the time period in which I am employed by the Company. I will advise
the Company promptly in writing of any intellectual property that I believe meet the criteria for exclusion set forth herein and
are not otherwise disclosed pursuant to Section 3(a) above.

 

(c)          Patent
and Copyright Registrations. I agree to assist the Company, or its designee, at the Company’s expense, in every
proper way to secure the Company’s rights in the Intellectual Property and any copyrights, patents or other intellectual
property rights relating thereto in any and all countries, including the disclosure to the Company of all pertinent information
and data with respect thereto, the execution of all applications, specifications, oaths, assignments and all other instruments
which the Company shall deem necessary in order to apply for and obtain such rights and in order to assign and convey to the Company,
its successors, assigns, and nominees the sole and exclusive rights, title and interest in and to such Intellectual Property,
and any copyrights, patents or other intellectual property rights relating thereto. I further agree that my obligation to execute
or cause to be executed, when it is in my power to do so, any such instrument or papers shall continue after the termination of
this Intellectual Property Agreement. If the Company is unable because of my mental or physical incapacity or for any other reason
to secure my assistance in perfecting the rights transferred in this Intellectual Property Agreement, then I hereby irrevocably
designate and appoint the Company and its duly authorized officers and agents as my agent and attorney in fact, to act for and
in my behalf and stead to execute and file any such applications and to do all other lawfully permitted acts to further the prosecution
and issuance of letters patent or copyright registrations thereon with the same legal force and effect as if executed by me. The
designation and appointment of the Company and its duly authorized officers and agents as my agent and attorney in fact shall
be deemed to be coupled with an interest and therefore irrevocable. 

 

     

    

    

 

(d)          Maintenance
of Records. I agree to keep and maintain adequate and current written records of all Intellectual Property made by me
(solely or jointly with others) during the term of my Relationship with the Company. The records will be in the form of notes,
sketches, drawings, and works of original authorship, photographs, negatives, digital images or any other format that may be specified
by the Company. The records will be available to and remain the sole property of the Company at all times.

 

(e)          Intellectual
Property Retained and Licensed. I provide below a list of all original works of authorship, inventions, developments,
improvements, and trade secrets which were made by me prior to my Relationship with the Company (collectively referred to as “Prior
Intellectual Property”), which belong to me, which relate to the Company’s proposed business, products or
research and development, and which are not assigned to the Company hereunder; or, if no such list is attached, I represent that
there is no such Prior Intellectual Property. If in the course of my Relationship with the Company, I incorporate into Company
property any Prior Intellectual Property owned by me or in which I have an interest, the Company is hereby granted and shall have
a nonexclusive, royalty-free, irrevocable, perpetual, worldwide license to make, have made, modify, use and sell such Prior Intellectual
Property as part of or in connection with such Company property.

 

Prior
Intellectual Property:

 

	 	 	Identifying
    Number
	Title	Date	or
    Brief Description

 

(f)          Exception
to Assignments. I understand that the provisions of this Intellectual Property Agreement requiring assignment of Intellectual
Property to the Company do not apply to any intellectual property that (i) I develop entirely on my own time; and (ii)
I develop without using Company equipment, supplies, facilities, or trade secret information; and (iii) do not result from
any work performed by me for the Company; and (iv) do not relate at the time of conception or reduction to practice to
the Company’s current or anticipated business, or to its actual or demonstrably anticipated research or development. Any
such intellectual property will be owned entirely by me, even if developed by me during the time period in which I am employed
by the Company. I will advise the Company promptly in writing of any intellectual property that I believe meet the criteria for
exclusion set forth herein and are not otherwise disclosed pursuant to Section 3(d) above.

 

(g)          Return
of Company Documents. I agree that, at the time of leaving the employ of the Company, I will deliver to the Company (and
will not keep in my possession, recreate or deliver to anyone else) any and all works of original authorship, photographs, negatives,
digital images, devices, records, data, notes, reports, proposals, lists, correspondence, specifications, drawings blueprints,
sketches, materials, equipment, other documents or property, or reproductions of any aforementioned items developed by me pursuant
to my Relationship with the Company or otherwise belonging to the Company, its successors or assigns. In the event of the termination
of my Relationship with the Company, I agree to sign and deliver the “Termination Certificate” attached
hereto as Appendix B.

 

4.           Notification
of New Employer. In the event that I leave the employ of the Company, I hereby grant consent to notification by the Company
to my new employer or consulting client about my rights and obligations under this Intellectual Property Agreement.

 

     

    

    

 

5.           No
Solicitation of Employees. In consideration for my Relationship with the Company and other valuable consideration, receipt
of which is hereby acknowledged, I agree that during the period of my Relationship with the Company as an Executive, officer and/or
director and for a period of twelve (12) months thereafter I shall not solicit the employment of any person who shall then be
employed by the Company (as an employee or consultant) or who shall have been employed by the Company (as an employee or consultant)
within the prior twelve (12) month period, on behalf of myself or any other person, firm, corporation, association or other entity,
directly or indirectly.

 

6.           No
Solicitation of Clients and Suppliers. I acknowledge the importance to the business carried on by the Company of the client
and supplier relationships developed by it and the unique opportunity that my employment and my access to the Confidential Information
offers to interfere with these relationships. Accordingly, I will not during my Employment Period and for a period of one year
thereafter directly or indirectly, contact or solicit or accept unsolicited business from any person who I know to be a prospective,
current or former client or supplier of Company for the purpose of selling to the client or buying from the supplier any products
or services that are the same as or substantially similar to, or in any way competitive with, the products or services sold or
purchased by Company during my employment or at the end thereof, as the case may be.

 

7.           Representations.
I represent that my performance of all the terms of this Intellectual Property Agreement will not breach any agreement to keep
in confidence proprietary information acquired by me in confidence or in trust prior to my Relationship with the Company. I have
not entered into, and I agree I will not enter into, any oral or written agreement in conflict herewith. I agree to execute any
proper oath or verify any proper document required to carry out the terms of this Intellectual Property Agreement.

 

8.           Arbitration
and Equitable Relief.

 

(a)          Arbitration.
If any dispute between the parties arising under this Agreement cannot reasonably be resolved by the Parties through mutual negotiation,
the Parties hereto agree that the claim or dispute including the arbitrability of the Agreement will be submitted to and decided
by binding arbitration under the Commercial Rules of the American Arbitration Association, except to the extent that the Commercial
Rules conflict with this provision, in which event, this Agreement shall control. This arbitration provision shall not limit the
right of either Party prior to or during any such Dispute to seek, use, and employ ancillary, or preliminary rights and/or remedies,
judicial or otherwise, for the purpose of maintaining the status quo until such time as the arbitration award is rendered or the
Dispute is otherwise resolved. Within ten (10) calendar days of service of a Demand for Arbitration, the Parties shall agree upon
a sole arbitrator, or if a sole arbitrator cannot be agreed upon within ten (10) calendar days, then either Party may apply to
any judge in any court of competent jurisdiction in city of Santa Clara County, State
of California for appointment of the arbitrator. The arbitrator(s) shall have the authority only to award equitable relief and
compensatory damages and shall not have the authority to award punitive damages or other non-compensatory damages. The arbitrator
shall have the right to award costs including expenses and attorneys’ fee incurred in connection with these dispute resolution
procedures and the fees, expenses and costs incurred by the arbitrator. The decision of the arbitrator(s) shall be final and binding
and may not be appealed. Any party may apply to any court having jurisdiction to enforce the decision of the arbitrator(s) and
to obtain a judgment thereon. All arbitration proceedings held pursuant to this Agreement shall be held in city of Sunnyvale,
California. The discovery provision of the California Rules of Civil Procedure in effect at the time of arbitration shall be deemed
incorporated herein for the purpose of such arbitration proceedings. Either Party, at its sole discretion, may consolidate an
arbitration conducted under this Agreement with any other arbitration to which it is a party provided that (i) the arbitration
agreement governing the other arbitration permits consolidation, (ii) the arbitrations to be consolidated substantially involve
common questions of law or fact, and (iii) the arbitrations employ materially similar procedural rules and methods for selecting
arbitrator(s). This agreement to arbitrate waives any right to trial by jury.

 

     

    

    

 

(b)          Equitable
Remedies. Each of the Company and I agree that disputes relating to or arising out of a breach of the covenants contained
in this Intellectual Property Agreement would likely require injunctive relief to maintain the status quo of the parties pending
the appointment of an arbitrator pursuant to this Intellectual Property Agreement. The parties hereto also agree that it would
be impossible or inadequate to measure and calculate the damages from any breach of the covenants contained in this Intellectual
Property Agreement prior to resolution of any dispute pursuant to arbitration. Accordingly, if either party claims that the other
party has breached any covenant of this Intellectual Property Agreement, that party will have available, in addition to any other
right or remedy, the right to obtain an injunction from a court of competent jurisdiction restraining such breach or threatened
breach and/or to specific performance of any such provision of this Intellectual Property Agreement pending resolution of the
dispute through arbitration. The parties further agree that no bond or other security shall be required in obtaining such equitable
relief and hereby consents to the issuance of such injunction and to the ordering of specific performance. However, upon appointment
of an arbitrator, the arbitrator shall review any interim, injunctive relief granted by a court of competent jurisdiction and
shall have the discretion, jurisdiction, and authority to continue, expand, or dissolve such relief pending completion of the
arbitration of such dispute or controversy. The parties agree that any orders issued by the arbitrator may be enforced by any
court of competent jurisdiction if necessary to ensure compliance by the parties.

 

9.           General
Provisions.

 

(a)          Governing
Law; Consent to Personal Jurisdiction. This Intellectual Property Agreement will be governed by the laws of the State
of Delaware as they apply to contracts entered into and wholly to be performed within such State. Subject to section 8(a) I hereby
expressly consent to the nonexclusive personal jurisdiction and venue of the state and federal courts in Santa
Clara County, California for any lawsuit filed there by either party arising from or relating to this Intellectual Property
Agreement.

 

(b)          Entire
Agreement. This Intellectual Property Agreement sets forth the entire agreement and understanding between the Company
and me relating to the subject matter herein and merges all prior discussions between us. No modification of or amendment to this
Intellectual Property Agreement, nor any waiver of any rights under this Intellectual Property Agreement, will be effective unless
in writing signed by the party to be charged. Any subsequent change or changes in my duties, salary or compensation will not affect
the validity or scope of this Intellectual Property Agreement.

 

(c)          Severability.
If one or more of the provisions in this Intellectual Property Agreement are deemed void by law, then the remaining provisions
will continue in full force and effect.

 

10.          Successors
and Assigns. This Intellectual Property Agreement will be binding upon my heirs, executors,
administrators and other legal representatives and will be for the benefit of the Company, its successors, and its assigns.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

 

     

    

    

 

IN
WITNESS WHEREOF, the undersigned has executed this Employment, Confidential Information and Intellectual Property Assignment Agreement
as of September 28, 2018.

	 	 	 	 	 
	 	By:	/s/ Stewart Kantor
	 	 	 
	 	Name:	Stewart Kantor
	 	 	 
	 	Address: 	 
	 	 	 
	 	 	 

 

WITNESS

	 	 	 	 	 
	By:	/s/ Menashe Shahar	 
	 	 
	Name:
    	Menashe Shahar	 
	 	 
	Address: 	 	 
	 	 	 
	 	 	 

 

     

    

    

 

APPENDIX
A

 

California
Labor Code Section 2870. Application of provision that employee shall assign or offer to assign rights in invention to employer.

 

(a)          Any
provision in an employment agreement which provides that an employee shall assign, or offer to assign, any of his or her rights
in an invention to his or her employer shall not apply to an invention that the employee developed entirely on his or her own
time without using the employer’s equipment, supplies, facilities, or trade secret information except for those inventions
that either:

 

(1)          Relate
at the time of conception or reduction to practice of the invention to the employer’s business, or actual or demonstrably
anticipated research or development of the employer.

 

(2)          Result
from any work performed by the employee for the employer.

 

(b)          To
the extent a provision in an employment agreement purports to require an employee to assign an invention otherwise excluded from
being required to be assigned under subdivision (a), the provision is against the public policy of this state and is unenforceable.

 

     

    

    

 

APPENDIX
B

 

ZEV
VENTURES INCORPORATED

Termination
Certificate

 

This
is to certify that I do not have in my possession, nor have I failed to return, any devices, records, data, notes, reports, proposals,
lists, correspondence, specifications, drawings, blueprints, sketches, materials, equipment, other documents or property, or reproductions
of any aforementioned items belonging to Zev Ventures Incorporated, its subsidiaries, affiliates, successors or assigns (together,
the “Company”).

 

I
further certify that I have complied with all the terms of the Company’s Employment, Confidential Information and Intellectual
Property Assignment Agreement signed by me (the “Intellectual Property Agreement”), including the reporting
of any Intellectual Property (as defined therein), conceived or made by me (solely or jointly with others) covered by the Intellectual
Property Agreement.

 

I
further agree that, in compliance with the Intellectual Property Agreement, I have returned or expunged all Confidential Information
and will preserve as confidential all trade secrets, confidential knowledge, data or other proprietary information relating to
products, processes, know-how, designs, formulas, developmental or experimental work, computer programs, data bases, other original
works of authorship, customer lists, business plans, financial information or other subject matter pertaining to any business
of the Company or any of its employees, clients, consultants or licensees.

 

	Date:	 	 	 
	 	 	(Signature)Exhibit 10.7

 

ZEV VENTURES INCORPORATED. 

2018 INCENTIVE STOCK PLAN

 

This
ZEV VENTURES INCORPORATED. 2018 Incentive Stock Plan (the “Plan”) is designed to retain directors,
executives and selected employees and consultants and reward them for making major contributions to the success of the Company.  These
objectives are accomplished by making long-term incentive awards under the Plan thereby providing Participants with a proprietary
interest in the growth and performance of the Company.

 

		1.	Definitions.

 

(a)   “Board”
– The Board of Directors of the Company.

 

(b)   “Code”
– The Internal Revenue Code of 1986, as amended from time to time.

 

(c)   “Committee”
- The Compensation Committee of the Company’s Board, or such other committee of the Board that is designated by the Board to administer
the Plan, composed of not less than two members of the Board all of whom are disinterested persons, as contemplated by Rule 16b-3
(“Rule 16b-3”) promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

 

		(d)	“Company” - Zev Ventures Incorporated. and its subsidiaries, including subsidiaries
of subsidiaries.

 

		(e)	“Exchange Act” - The Securities Exchange Act of 1934, as amended from time to
time.

 

		(f)	“Fair Market Value” - means, as of
any date, the value of a Stock determined as follows:

 

(i)       If
the Stock is trading on any established stock exchange or a national market system, including without limitation the Nasdaq National
Market or the Nasdaq SmallCap Market of the Nasdaq Stock Market, the Fair Market Value shall be the closing sale price of on the
Stock on the principal exchange on which Stock is then trading (or as reported on any composite index which includes such principal
exchange), on the trading day immediately preceding such date, or if Stock is not traded on such date, then on the next preceding
date of which a trade occurred, as reported in The Wall Street Journal or such other source as the Board or Committee deems
reliable;

 

(ii)      If
the Stock is not traded on an exchange, but is quotation on the Nasdaq or other comparable quotation system, the Fair Market Value
shall be the mean between closing representative bid and ask prices for the Stock on the trading day immediately preceding such
date or, if no bid and ask prices were reported on such date, then on the last date preceding such date on which both bid and ask
prices were reported, all as reported by Nasdaq or such other comparable quotation system; or

 

(iii)     If
the Stock is not publicly traded on an exchange and not quoted on Nasdaq or a comparable quotation system, the Fair Market Value
shall be determined in good faith by the Board or Committee or by an external valuation evaluator retained by the Company.

 

(g)   “Grant”
- The grant of any form of stock option, stock award, or stock purchase offer, whether granted singly, in combination or in tandem,
to a Participant pursuant to such terms, conditions and limitations as the Committee may establish in order to fulfill the objectives
of the Plan.

 

(h)   “Grant
Agreement” - An agreement between the Company and a Participant that sets forth the terms, conditions and limitations
applicable to a Grant.

 

(i)    “Nevada
Securities Rules” – Nevada Securities Law, Chapter 90 NRS.

 

(j)    “Option”
- Either an Incentive Stock Option, in accordance with Section 422 of the Code, or a Nonstatutory Option, to purchase the Company’s
Stock that may be awarded to a Participant under the Plan. A Participant who receives an award of an Option shall be referred to
as an “Optionee.”

 

     1

     

    

 

(k)   “Participant”
- A director, officer, employee or consultant of the Company to whom an Award has been made under the Plan.

 

(l)    “Restricted
Stock Purchase Offer” - A Grant of the right to purchase a specified number of shares of Stock pursuant to a written agreement
issued under the Plan.

 

(m)  “Securities
Act” - The Securities Act of 1933, as amended from time to time.

 

(n)   “Stock”
- Authorized and issued or unissued shares of common stock of the Company.

 

(o)   “Stock
Award” - A Grant made under the Plan in stock or denominated in units of stock for which the Participant is not obligated
to pay additional consideration.

 

		2.	Administration.

 

The Plan shall be administered by the Board, provided
however, that the Board may delegate such administration to the Committee. Subject to the provisions of the Plan, the Board and/or
the Committee shall have authority to (a) grant, in its discretion, Incentive Stock Options in accordance with Section 422 of the
Code, or Nonstatutory Options, Stock Awards or Restricted Stock Purchase Offers; (b) determine in good faith the fair market value
of the Stock covered by any Grant; (c) determine which eligible persons shall receive Grants and the number of shares, restrictions,
terms and conditions to be included in such Grants; (d) construe and interpret the Plan; (e) promulgate, amend and rescind  rules
and regulations relating to its administration, and correct defects, omissions and inconsistencies in the Plan or any Grant; (f)
consistent with the Plan and with the consent of the Participant, as appropriate, amend any outstanding Grant including amending
the exercise date or dates thereof; (g) determine the duration and purpose of leaves of absence which may be granted to Participants
without constituting termination of their employment for the purpose of the Plan or any Grant; and (h) make all other determinations
necessary or advisable for the Plan’s administration. The interpretation and construction by the Board of any provisions of the
Plan or selection of Participants shall be conclusive and final. No member of the Board or the Committee shall be liable for any
action or determination made in good faith with respect to the Plan or any Grant made thereunder.

 

		3.	Eligibility.

 

(a)   General:
The persons who shall be eligible to receive Grants shall be directors, officers, employees or consultants to the Company. The
term consultant shall mean any person, other than an employee, who is engaged by the Company to render services and is compensated
for such services. An Optionee may hold more than one Option. Any issuance of a Grant to an officer or director of the Company
subsequent to the first registration of any of the securities of the Company under the Exchange Act shall comply with the requirements
of Rule 16b-3.

 

(b)   Incentive
Stock Options:  Incentive Stock Options may only be issued to employees of the Company. Incentive Stock Options may
be granted to officers or directors, provided they are also employees of the Company. Payment of a director’s fee shall not be
sufficient to constitute employment by the Company.

 

The Company shall not grant an Incentive Stock
Option under the Plan to any employee if such Grant would result in such employee holding the right to exercise for the first time
in any one calendar year, under all Incentive Stock Options granted under the Plan or any other plan maintained by the Company,
with respect to shares of Stock having an aggregate Fair Market Value, determined as of the date of the Option is granted, in excess
of $100,000. Should it be determined that an Incentive Stock Option granted under the Plan exceeds such maximum for any reason
other than a failure in good faith to value the Stock subject to such option, the excess portion of such option shall be considered
a Nonstatutory Option. To the extent the employee holds two (2) or more such Options which become exercisable for the first time
in the same calendar year, the foregoing limitation on the exercisability of such Option as Incentive Stock Options under the Federal
tax laws shall be applied on the basis of the order in which such Options are granted. If, for any reason, an entire Option does
not qualify as an Incentive Stock Option by reason of exceeding such maximum, such Option shall be considered a Nonstatutory Option.

 

     2

     

    

 

(c)   Nonstatutory
Option: The provisions of the foregoing Section 3(b) shall not apply to any Option designated as a “Nonstatutory Option”
or which sets forth the intention of the parties that the Option be a Nonstatutory Option.

 

(d)   Stock
Awards and Restricted Stock Purchase Offers:  The provisions of this Section 3 shall not apply to any Stock Award
or Restricted Stock Purchase Offer under the Plan.

 

		4.	Stock.

 

(a)   Authorized
Stock: Stock subject to Grants may be either unissued or reacquired Stock.

 

(b)   Number
of Shares:  Subject to adjustment as provided in Section 5(i) of the Plan, the total number of shares of Stock which
may be purchased or granted directly by Options, Stock Awards or Restricted Stock Purchase Offers, or purchased indirectly through
exercise of Options granted under the Plan shall not exceed Ten Million (10,000,000). If any Grant shall for any reason terminate
or expire, any shares allocated thereto but remaining unpurchased upon such expiration or termination shall again be available
for Grants with respect thereto under the Plan as though no Grant had previously occurred with respect to such shares. Any shares
of Stock issued pursuant to a Grant and repurchased pursuant to the terms thereof shall be available for future Grants as though
not previously covered by a Grant.

 

(c)   Reservation
of Shares:  The Company shall reserve and keep available at all times during the term of the Plan such number of
shares as shall be sufficient to satisfy the requirements of the Plan. If, after reasonable efforts, which efforts shall not include
the registration of the Plan or Grants under the Securities Act, the Company is unable to obtain authority from any applicable
regulatory body, which authorization is deemed necessary by legal counsel for the Company for the lawful issuance of shares hereunder,
the Company shall be relieved of any liability with respect to its failure to issue and sell the shares for which such requisite
authority was so deemed necessary unless and until such authority is obtained.

 

(d)   Application
of Funds: The proceeds received by the Company from the sale of Stock pursuant to the exercise of Options or rights under Stock
Purchase Agreements will be used for general corporate purposes.

 

(e)   No
Obligation to Exercise: The issuance of a Grant shall impose no obligation upon the Participant to exercise any rights under
such Grant.

 

		5.	Terms and Conditions of Options.

 

Options granted hereunder shall be evidenced by
agreements between the Company and the respective Optionees, in such form and substance as the Board or Committee shall from time
to time approve. The form of Incentive Stock Option Agreement attached hereto as Exhibit A and the three forms of a Nonstatutory
Stock Option Agreement for employees, for directors and for consultants, attached hereto as Exhibit B-1, Exhibit B-2 and
Exhibit B-3, respectively, shall be deemed to be approved by the Board. Option agreements need not be identical, and in
each case may include such terms and provisions as the Board or Committee may determine, but all such agreements shall be subject
to and limited by the following terms and conditions:

 

(a)   Number
of Shares: Each Option shall state the number of shares to which it pertains.

 

(b)   Exercise
Price: Each Option shall state the exercise price, which shall be determined as follows:

 

(i)       Any
Incentive Stock Option granted to a person who at the time the Option is granted owns (or is deemed to own pursuant to Section
424(d) of the Code) stock possessing more than ten percent (10%) of the total combined voting power or value of all classes of
stock of the Company (“Ten Percent Holder”) shall have an exercise price of no less than 110% of Fair Market Value
as of the date of grant; and

 

(ii)      Incentive
Stock Options granted to a person who at the time the Option is granted is not a Ten Percent Holder shall have an exercise price
of no less than 100% of Fair Market Value as of the date of grant.

 

     3

     

    

 

For the purposes of this Section 5(b), the Fair
Market Value shall be as determined by the Board in good faith, which determination shall be conclusive and binding; provided however,
that if there is a public market for such Stock, the Fair Market Value per share shall be the average of the bid and asked prices
(or the closing price if such stock is listed on the NASDAQ National Market System or Nasdaq Capital Market) on the date of grant
of the Option, or if listed on a stock exchange, the closing price on such exchange on such date of grant.

 

(c)   Medium
and Time of Payment:  The exercise price shall become immediately due upon exercise of the Option and shall be paid
in cash or check made payable to the Company. Should the Company’s outstanding Stock be registered under Section 12(g) of the Exchange
Act at the time the Option is exercised, then the exercise price may also be paid as follows:

 

(i)    in
shares of Stock held by the Optionee for the requisite period necessary to avoid a charge to the Company’s earnings for financial
reporting purposes and valued at Fair Market Value on the exercise date, or

 

(ii)   through
a special sale and remittance procedure pursuant to which the Optionee shall concurrently provide irrevocable written instructions
(a) to a Company designated brokerage firm to effect the immediate sale of the purchased shares and remit to the Company, out of
the sale proceeds available on the settlement date, sufficient funds to cover the aggregate exercise price payable for the purchased
shares plus all applicable Federal, state and local income and employment taxes required to be withheld by the Company by reason
of such purchase and (b) to the Company to deliver the certificates for the purchased shares directly to such brokerage firm in
order to complete the sale transaction.

 

At the discretion of the Board, exercisable either
at the time of Option grant or of Option exercise, the exercise price may also be paid (i) by Optionee’s delivery of a promissory
note in form and substance satisfactory to the Company and permissible under the Securities Rules of the State of Nevada and bearing
interest at a rate determined by the Board in its sole discretion, but in no event less than the minimum rate of interest required
to avoid the imputation of compensation income to the Optionee under the Federal tax laws, or (ii) in such other form of consideration
permitted by the Nevada corporations law as may be acceptable to the Board.

 

(d)   Term
and Exercise of Options: Any Option granted to an employee, consultant or director of the Company shall become exercisable
over a period of no longer than ten (10) years or in the case of an Option granted to an Optionee who is a Ten Percent Holder at
the time the Option is granted, the expiration of five (5) years from the date such Option was granted. Each Option shall be exercisable
to the nearest whole share, in installments or otherwise, as the respective Option agreements may provide. During the lifetime
of an Optionee, the Option shall be exercisable only by the Optionee and shall not be assignable or transferable by the Optionee,
and no other person shall acquire any rights therein. To the extent not exercised, installments (if more than one) shall accumulate,
but shall be exercisable, in whole or in part, only during the period for exercise as stated in the Option agreement, whether or
not other installments are then exercisable.

 

(e)   Termination
of Status as Employee, Consultant or Director:  If Optionee’s status as an employee shall terminate for any reason
other than Optionee’s disability or death, then Optionee (or if the Optionee shall die after such termination, but prior to exercise,
Optionee’s personal representative or the person entitled to succeed to the Option) shall have the right to exercise the portions
of any of Optionee’s Incentive Stock Options which were exercisable as of the date of such termination, in whole or in part, not
less than 30 days nor more than three (3) months after such termination (or, in the event of “termination for good cause”
as that term is defined in Nevada case law related thereto, or by the terms of the Plan or the Option Agreement or an employment
agreement, the Option shall automatically terminate as of the termination of employment as to all shares covered by the Option).

 

With respect to Nonstatutory Options granted to
employees, directors or consultants, the Board may specify such period for exercise, not less than 30 days after such termination
(except that in the case of “termination for cause” or removal of a director, the Option shall automatically terminate
as of the termination of employment or services as to shares covered by the Option, following termination of employment or services
as the Board deems reasonable and appropriate). The Option may be exercised only with respect to installments that the Optionee
could have exercised at the date of termination of employment or services. Nothing contained herein or in any Option granted pursuant
hereto shall be construed to affect or restrict in any way the right of the Company to terminate the employment or services of
an Optionee with or without cause.

 

     4

     

    

 

(f)    Disability
of Optionee:  If an Optionee is disabled (within the meaning of Section 22(e)(3) of the Code) at the time of termination,
the three (3) month period set forth in Section 5(e) shall be a period, as determined by the Board and set forth in the Option,
of not less than six months nor more than one year after such termination.

 

(g)   Death
of Optionee:  If an Optionee dies while employed by, engaged as a consultant to, or serving as a Director of the
Company, the portion of such Optionee’s Option which was exercisable at the date of death may be exercised, in whole or in part,
by the estate of the decedent or by a person succeeding to the right to exercise such Option at any time within (i) a period, as
determined by the Board and set forth in the Option, of not less than six (6) months nor more than one (1) year after Optionee’s
death, or (ii) during the remaining term of the Option, whichever is the lesser. The Option may be so exercised only with respect
to installments exercisable at the time of Optionee’s death and not previously exercised by the Optionee.

 

(h)   Non-transferability
of Option:  No Option shall be transferable by the Optionee, except by will or by the laws of descent and distribution.

 

(i)    Recapitalization:  Subject
to any required action of shareholders, the number of shares of Stock covered by each outstanding Option, and the exercise price
per share thereof set forth in each such Option, shall be proportionately adjusted for any increase or decrease in the number of
issued shares of Stock of the Company resulting from a stock split, stock dividend, combination, subdivision or reclassification
of shares, or the payment of a stock dividend, or any other increase or decrease in the number of such shares affected without
receipt of consideration by the Company; provided, however, the conversion of any convertible securities of the Company shall not
be deemed to have been “effected without receipt of consideration” by the Company.

 

In the event of a proposed dissolution or liquidation
of the Company, a merger or consolidation in which the Company is not the surviving entity, or a sale of all or substantially all
of the assets or capital stock of the Company (collectively, a “Reorganization”), unless otherwise provided by
the Board, this Option shall terminate immediately prior to such date as is determined by the Board, which date shall be no later
than the consummation of such Reorganization.  In such event, if the entity which shall be the surviving entity does
not tender to Optionee an offer, for which it has no obligation to do so, to substitute for any unexercised Option a stock option
or capital stock of such surviving of such surviving entity, as applicable, which on an equitable basis shall provide the Optionee
with substantially the same economic benefit as such unexercised Option, then the Board may grant to such Optionee, in its sole
and absolute discretion and without obligation, the right for a period commencing thirty (30) days prior to and ending immediately
prior to the date determined by the Board pursuant hereto for termination of the Option or during the remaining term of the Option,
whichever is the lesser, to exercise any unexpired Option or Options without regard to the installment provisions of Paragraph
6(d) of the Plan; provided, that any such right granted shall be granted to all Optionees not receiving an offer to receive substitute
options on a consistent basis, and provided further, that any such exercise shall be subject to the consummation of such Reorganization.

 

Subject to any required action of shareholders,
if the Company shall be the surviving entity in any merger or consolidation, each outstanding Option thereafter shall pertain to
and apply to the securities to which a holder of shares of Stock equal to the shares subject to the Option would have been entitled
by reason of such merger or consolidation.

 

In the event of a change in the Stock of the Company
as presently constituted, which is limited to a change of all of its authorized shares without par value into the same number of
shares with a par value, the shares resulting from any such change shall be deemed to be the Stock within the meaning of the Plan.

 

To the extent that the foregoing adjustments relate
to stock or securities of the Company, such adjustments shall be made by the Board, whose determination in that respect shall be
final, binding and conclusive. Except as expressly provided in this Section 5(i), the Optionee shall have no rights by reason of
any subdivision or consolidation of shares of stock of any class or the payment of any stock dividend or any other increase or
decrease in the number of shares of stock of any class, and the number or price of shares of Stock subject to any Option shall
not be affected by, and no adjustment shall be made by reason of, any dissolution, liquidation, merger, consolidation or sale of
assets or capital stock, or any issue by the Company of shares of stock of any class or securities convertible into shares of stock
of any class.

 

     5

     

    

 

The Grant of an Option pursuant to the Plan shall
not affect in any way the right or power of the Company to make any adjustments, reclassifications, reorganizations or changes
in its capital or business structure or to merge, consolidate, dissolve, or liquidate or to sell or transfer all or any part of
its business or assets.

 

(j)    Rights
as a Shareholder:  An Optionee shall have no rights as a shareholder with respect to any shares covered by an Option
until the effective date of the issuance of the shares following exercise of such Option by Optionee. No adjustment shall be made
for dividends (ordinary or extraordinary, whether in cash, securities or other property) or distributions or other rights for which
the record date is prior to the date such stock certificate is issued, except as expressly provided in Section 5(i) hereof.

 

(k)   Modification,
Acceleration, Extension, and Renewal of Options:  Subject to the terms and conditions and within the limitations
of the Plan, the Board may modify an Option, or, once an Option is exercisable, accelerate the rate at which it may be exercised,
and may extend or renew outstanding Options granted under the Plan or accept the surrender of outstanding Options (to the extent
not theretofore exercised) and authorize the granting of new Options in substitution for such Options, provided such action is
permissible under Section 422 of the Code and the Nevada Securities Rules. Notwithstanding the provisions of this Section 5(k),
however, no modification of an Option shall, without the consent of the Optionee, alter to the Optionee’s detriment or impair any
rights or obligations under any Option theretofore granted under the Plan.

 

(l)    Exercise
Before Exercise Date:  At the discretion of the Board, the Option may, but need not, include a provision whereby
the Optionee may elect to exercise all or any portion of the Option prior to the stated exercise date of the Option or any installment
thereof. Any shares so purchased prior to the stated exercise date shall be subject to repurchase by the Company upon termination
of Optionee’s employment as contemplated by Section 5(n) hereof prior to the exercise date stated in the Option and such other
restrictions and conditions as the Board or Committee may deem advisable.

 

(m)  Other
Provisions:  The Option agreements authorized under the Plan shall contain such other provisions, including, without
limitation, restrictions upon the exercise of the Options, as the Board or the Committee shall deem advisable. Shares shall not
be issued pursuant to the exercise of an Option, if the exercise of such Option or the issuance of shares thereunder would violate,
in the opinion of legal counsel for the Company, the provisions of any applicable law or the rules or regulations of any applicable
governmental or administrative agency or body, such as the Code, the Securities Act, the Exchange Act, the Nevada Securities Rules,
Nevada corporation law, and the rules promulgated under the foregoing or the rules and regulations of any exchange upon which the
shares of the Company are listed. Without limiting the generality of the foregoing, the exercise of each Option shall be subject
to the condition that if at any time the Company shall determine that (i) the satisfaction of withholding tax or other similar
liabilities, or (ii) the listing, registration or qualification of any shares covered by such exercise upon any securities exchange
or under any state or federal law, or (iii) the consent or approval of any regulatory body, or (iv) the perfection of any exemption
from any such withholding, listing, registration, qualification, consent or approval is necessary or desirable in connection with
such exercise or the issuance of shares thereunder, then in any such event, such exercise shall not be effective unless such withholding,
listing registration, qualification, consent, approval or exemption shall have been effected, obtained or perfected free of any
conditions not acceptable to the Company.

 

(n)   Repurchase
Agreement:  The Board may, in its discretion, require as a condition to the Grant of an Option hereunder, that an
Optionee execute an agreement with the Company, in form and substance satisfactory to the Board in its discretion (“Repurchase
Agreement”), (i) restricting the Optionee’s right to transfer shares purchased under such Option without first offering
such shares to the Company or another shareholder of the Company upon the same terms and conditions as provided therein; and (ii)
providing that upon termination of Optionee’s employment with the Company, for any reason, the Company (or another shareholder
of the Company, as provided in the Repurchase Agreement) shall have the right at its discretion (or the discretion of such other
shareholders) to purchase and/or redeem all such shares owned by the Optionee on the date of termination of his or her employment
at a price equal to: (A) the fair value of such shares as of such date of termination; or (B) if such repurchase right lapses at
20% of the number of shares per year, the original purchase price of such shares, and upon terms of payment permissible under the
Nevada Securities Rules; provided that in the case of Options or Stock Awards granted to officers, directors, consultants or affiliates
of the Company, such repurchase provisions may be subject to additional or greater restrictions as determined by the Board or Committee.

 

     6

     

    

 

		6.	Stock Awards and Restricted Stock Purchase Offers.

 

(a)   Types
of Grants.

 

(i)    Stock
Award.  All or part of any Stock Award under the Plan may be subject to conditions established by the Board or the
Committee, and set forth in the Stock Award Agreement, which may include, but are not limited to, continuous service with the Company,
achievement of specific business objectives, increases in specified indices, attaining growth rates and other comparable measurements
of Company performance. Such Awards may be based on Fair Market Value or other specified valuation.

 

(ii)   Restricted
Stock Purchase Offer.  A Grant of a Restricted Stock Purchase Offer under the Plan shall be subject to such (i) vesting
contingencies related to the Participant’s continued association with the Company for a specified time and (ii) other specified
conditions as the Board or Committee shall determine, in their sole discretion, consistent with the provisions of the Plan.

 

(b)   Conditions
and Restrictions.  Shares of Stock which Participants may receive as a Stock Award under a Stock Award Agreement
or Restricted Stock Purchase Offer under a Restricted Stock Purchase Offer may include such restrictions as the Board or Committee,
as applicable, shall determine, including restrictions on transfer, repurchase rights, right of first refusal, and forfeiture provisions.
When transfer of Stock is so restricted or subject to forfeiture provisions it is referred to as “Restricted Stock”.
Further, with Board or Committee approval, Stock Awards or Restricted Stock Purchase Offers may be deferred, either in the form
of installments or a future lump sum distribution. The Board or Committee may permit selected Participants to elect to defer distributions
of Stock Awards or Restricted Stock Purchase Offers in accordance with procedures established by the Board or Committee to assure
that such deferrals comply with applicable requirements of the Code including, at the choice of Participants, the capability to
make further deferrals for distribution after retirement. Any deferred distribution, whether elected by the Participant or specified
by the Stock Award Agreement, Restricted Stock Purchase Offers or by the Board or Committee, may require the payment be forfeited
in accordance with the provisions of Section 6(c). Dividends or dividend equivalent rights may be extended to and made part of
any Stock Award or Restricted Stock Purchase Offers denominated in Stock or units of Stock, subject to such terms, conditions and
restrictions as the Board or Committee may establish.

 

(c)       Cancellation
and Rescission of Grants.  Unless the Stock Award Agreement or Restricted Stock Purchase Offer specifies otherwise,
the Board or Committee, as applicable, may cancel any unexpired, unpaid, or deferred Grants at any time if the Participant is not
in compliance with all other applicable provisions of the Stock Award Agreement or Restricted Stock Purchase Offer, the Plan and
with the following conditions:

 

(i)    A
Participant shall not render services for any organization or engage directly or indirectly in any business which, in the judgment
of the chief executive officer of the Company or other senior officer designated by the Board or Committee, is or becomes competitive
with the Company, or which organization or business, or the rendering of services to such organization or business, is or becomes
otherwise prejudicial to or in conflict with the interests of the Company. For Participants whose employment has terminated, the
judgment of the chief executive officer shall be based on the Participant’s position and responsibilities while employed by the
Company, the Participant’s post-employment responsibilities and position with the other organization or business, the extent of
past, current and potential competition or conflict between the Company and the other organization or business, the effect on the
Company’s customers, suppliers and competitors and such other considerations as are deemed relevant given the applicable facts
and circumstances.  A Participant who has retired shall be free, however, to purchase as an investment or otherwise,
stock or other securities of such organization or business so long as they are listed upon a recognized securities exchange or
traded over-the-counter, and such investment does not represent a substantial investment to the Participant or a greater than ten
percent (10%) equity interest in the organization or business.

 

(ii)   A
Participant shall not, without prior written authorization from the Company, disclose to anyone outside the Company, or use in
other than the Company’s business, any confidential information or material, as defined in the Company’s Proprietary Information
and Invention Agreement or similar agreement regarding confidential information and intellectual property, relating to the business
of the Company, acquired by the Participant either during or after employment with the Company.

 

     7

     

    

 

(iii)  A
Participant, pursuant to the Company’s Proprietary Information and Invention Agreement or similar agreement regarding intellectual
property inventions, shall disclose promptly and assign to the Company all right, title and interest in any invention or idea,
patentable or not, made or conceived by the Participant during employment by the Company, relating in any manner to the actual
or anticipated business, research or development work of the Company and shall do anything reasonably necessary to enable the Company
to secure a patent where appropriate in the United States and in foreign countries.

 

(iv)  Upon
exercise, payment or delivery pursuant to a Grant, the Participant shall certify on a form acceptable to the Committee that he
or she is in compliance with the terms and conditions of the Plan. Failure to comply with all of the provisions of this Section
6(c) prior to, or during the six months after, any exercise, payment or delivery pursuant to a Grant shall cause such exercise,
payment or delivery to be rescinded. The Company shall notify the Participant in writing of any such rescission within 45 days
of discovery by the Company’s Chief Executive Officer of Participant’s failure to comply with the provision of Section
6(c). Within ten days after receiving such a notice from the Company, the Participant shall pay to the Company the amount of any
gain realized or payment received as a result of the rescinded exercise, payment or delivery pursuant to a Grant. Such payment
shall be made either in cash or by returning to the Company the number of shares of Stock that the Participant received in connection
with the rescinded exercise, payment or delivery.

 

(d)   Nonassignability.

 

(i)    Except
pursuant to Section 6(e)(iii) and except as set forth in Section 6(d)(ii), no Grant or any other benefit under the Plan shall be
assignable or transferable, or payable to or exercisable by, anyone other than the Participant to whom it was granted.

 

(ii)   Where
a Participant terminates employment and retains a Grant pursuant to Section 6(e)(ii) in order to assume a position with a governmental,
charitable or educational institution, the Board or Committee, in its discretion and to the extent permitted by law, may authorize
a third party (including but not limited to the trustee of a “blind” trust), acceptable to the applicable governmental
or institutional authorities, the Participant and the Board or Committee, to act on behalf of the Participant with regard to such
Awards.

 

(e)   Termination
of Employment.  If the employment or service to the Company of a Participant terminates, other than pursuant to any
of the following provisions under this Section 6(e), all unexercised, deferred and unpaid Stock Awards or Restricted Stock Purchase
Offers shall be cancelled immediately, unless the Stock Award Agreement or Restricted Stock Purchase Offer provides otherwise:

 

(i)    Retirement
Under a Company Retirement Plan.  When a Participant’s employment terminates as a result of retirement in accordance
with the terms of a Company retirement plan, the Board or Committee may permit Stock Awards or Restricted Stock Purchase Offers
to continue in effect beyond the date of retirement in accordance with the applicable Grant Agreement and the exercisability and
vesting of any such Grants may be accelerated.

 

(ii)   Rights
in the Best Interests of the Company.  When a Participant resigns from the Company or is terminated without cause
and, in the judgment of the Board or Committee, the acceleration and/or continuation of outstanding Stock Awards or Restricted
Stock Purchase Offers would be in the best interests of the Company, the Board or Committee may (i) authorize, where appropriate,
the acceleration and/or continuation of all or any part of Grants issued prior to such termination and (ii) permit the exercise,
vesting and payment of such Grants for such period as may be set forth in the applicable Grant Agreement, subject to earlier cancellation
pursuant to Section 9 or at such time as the Board or Committee shall deem the continuation of all or any part of the Participant’s
Grants are not in the Company’s best interest.

 

(iii)  Death
or Disability of a Participant.

 

(1)      In
the event of a Participant’s death, the Participant’s estate or beneficiaries shall have a period up to the expiration date specified
in the Grant Agreement for the applicable stock award or stock purchase offer within which to receive or exercise any such outstanding
Grant held by the Participant under such terms as may be specified in the applicable Grant Agreement. Rights to any such outstanding
Grants shall pass by will or the laws of descent and distribution in the following order: (a) to beneficiaries so designated by
the Participant; if none, then (b) to a legal representative of the Participant; if none, then (c) to the persons entitled thereto
as determined by a court of competent jurisdiction. Grants so passing shall be made at such times and in such manner as if the
Participant were living.

 

     8

     

    

 

(2)      In
the event a Participant is deemed by the Board or Committee to be unable to perform his or her usual duties by reason of mental
disorder or medical condition which does not result from facts which would be grounds for termination for cause, Grants and rights
to any such Grants may be paid to or exercised by the Participant, if legally competent, or a committee or other legally designated
guardian or representative if the Participant is legally incompetent by virtue of such disability.

 

(3)      After
the death or disability of a Participant, the Board or Committee may in its sole discretion at any time (1) terminate restrictions
in Grant Agreements; (2) accelerate any or all installments and rights; and (3) instruct the Company to pay the total of any accelerated
payments in a lump sum to the Participant, the Participant’s estate, beneficiaries or representative; notwithstanding that, in
the absence of such termination of restrictions or acceleration of payments, any or all of the payments due under the Grant might
ultimately have become payable to other beneficiaries.

 

(4)      In
the event of uncertainty as to interpretation of or controversies concerning this Section 6, the determinations of the Board or
Committee, as applicable, shall be binding and conclusive.

 

		7.	Investment Intent.

 

All Grants under the Plan are intended to be exempt
from registration under the Securities Act provided by Section 4(2) thereunder. Unless and until the granting of Options or sale
and issuance of Stock subject to the Plan are registered under the Securities Act or shall be exempt pursuant to the rules promulgated
thereunder, each Grant under the Plan shall provide that the purchases or other acquisitions of Stock thereunder shall be for investment
purposes and not with a view to, or for resale in connection with, any distribution thereof. Further, unless the issuance and sale
of the Stock have been registered under the Securities Act, each Grant shall provide that no shares shall be purchased upon the
exercise of the rights under such Grant unless and until (i) all then applicable requirements of state and federal laws and regulatory
agencies shall have been fully complied with to the satisfaction of the Company and its counsel, and (ii) if requested to do so
by the Company, the person exercising the rights under the Grant shall (i) give written assurances as to knowledge and experience
of such person (or a representative employed by such person) in financial and business matters and the ability of such person (or
representative) to evaluate the merits and risks of exercising the Option, and (ii) execute and deliver to the Company a letter
of investment intent and/or such other form related to applicable exemptions from registration, all in such form and substance
as the Company may require. If shares are issued upon exercise of any rights under a Grant without registration under the Securities
Act, subsequent registration of such shares shall relieve the purchaser thereof of any investment restrictions or representations
made upon the exercise of such rights.

 

		8.	Amendment, Modification, Suspension or Discontinuance
of the Plan.

 

The Board may, insofar as permitted by law, from
time to time, with respect to any shares at the time not subject to outstanding Grants, suspend or terminate the Plan or revise
or amend it in any respect whatsoever, except that without the approval of the shareholders of the Company, no such revision or
amendment shall (i) increase the number of shares subject to the Plan, (ii) decrease the price at which Grants may be granted,
(iii) materially increase the benefits to Participants, or (iv) change the class of persons eligible to receive Grants under the
Plan; provided, however, no such action shall alter or impair the rights and obligations under any Option, or Stock Award, or Restricted
Stock Purchase Offer outstanding as of the date thereof without the written consent of the Participant thereunder. No Grant may
be issued while the Plan is suspended or after it is terminated, but the rights and obligations under any Grant issued while the
Plan is in effect shall not be impaired by suspension or termination of the Plan.

 

     9

     

    

 

In the event of any change in the outstanding Stock
by reason of a stock split, stock dividend, combination or reclassification of shares, recapitalization, merger, or similar event,
the Board or the Committee may adjust proportionally (a) the number of shares of Stock (i) reserved under the Plan, (ii) available
for Incentive Stock Options and Nonstatutory Options and (iii) covered by outstanding Stock Awards or Restricted Stock Purchase
Offers; (b) the Stock prices related to outstanding Grants; and (c) the appropriate Fair Market Value and other price determinations
for such Grants. In the event of any other change affecting the Stock or any distribution (other than normal cash dividends) to
holders of Stock, such adjustments as may be deemed equitable by the Board or the Committee, including adjustments to avoid fractional
shares, shall be made to give proper effect to such event. In the event of a corporate merger, consolidation, acquisition of property
or stock, separation, reorganization or liquidation, the Board or the Committee shall be authorized to issue or assume stock options,
whether or not in a transaction to which Section 424(a) of the Code applies, and other Grants by means of substitution of new Grant
Agreements for previously issued Grants or an assumption of previously issued Grants.

 

		9.	Tax Withholding.

 

The Company shall have the right to deduct applicable
taxes from any Grant payment and withhold, at the time of delivery or exercise of Options, Stock Awards or Restricted Stock Purchase
Offers or vesting of shares under such Grants, an appropriate number of shares for payment of taxes required by law or to take
such other action as may be necessary in the opinion of the Company to satisfy all obligations for withholding of such taxes. If
Stock is used to satisfy tax withholding, such stock shall be valued based on the Fair Market Value when the tax withholding is
required to be made.

 

		10.	Availability of Information.

 

During the term of the Plan and any additional
period during which a Grant granted pursuant to the Plan shall be exercisable, the Company shall make available, not later than
one hundred and twenty (120) days following the close of each of its fiscal years, such financial and other information regarding
the Company as is required by the bylaws of the Company and applicable law to be furnished in an annual report to the shareholders
of the Company. 

 

		11.	Notice.

 

Any written notice to the Company required by any
of the provisions of the Plan shall be addressed to the chief personnel officer or to the chief executive officer of the Company,
and shall become effective when it is received by the office of the chief personnel officer or the chief executive officer.

 

		12.	Indemnification of Board.

 

In addition to such other rights or indemnifications
as they may have as directors or otherwise, and to the extent allowed by applicable law, the members of the Board and the Committee
shall be indemnified by the Company against the reasonable expenses, including attorneys’ fees, actually and necessarily incurred
in connection with the defense of any claim, action, suit or proceeding, or in connection with any appeal thereof, to which they
or any of them may be a party by reason of any action taken, or failure to act, under or in connection with the Plan or any Grant
granted thereunder, and against all amounts paid by them in settlement thereof (provided such settlement is approved by independent
legal counsel selected by the Company) or paid by them in satisfaction of a judgment in any such claim, action, suit or proceeding,
except in any case in relation to matters as to which it shall be adjudged in such claim, action, suit or proceeding that such
Board or Committee member is liable for negligence or misconduct in the performance of his or her duties; provided that within
sixty (60) days after institution of any such action, suit or Board proceeding the member involved shall offer the Company, in
writing, the opportunity, at its own expense, to handle and defend the same.

 

		13.	Governing Law.

 

The Plan and all determinations made and actions
taken pursuant hereto, to the extent not otherwise governed by the Code or the securities laws of the United States, shall
be governed by the law of the State of Nevada and construed accordingly.

 

     10

     

    

 

		14.	Effective and Termination Dates.

 

The Plan shall become effective upon adoption by
the Board, subject to approval within twelve (12) months by the shareholders of the Company. Unless and until this Plan has been
approved by the stockholders of the Company no Option or Stock Award may be exercised, and no shares of common stock of the Company
may be issued under this Plan. In the event that the stockholders of the Company shall not approve this Plan within such twelve
(12) month period, this Plan and any previously granted Options or Stock Awards shall terminate.

 

Unless previously terminated, this Plan will terminate
ten (10) years after the date this Plan is adopted by the Board, except that Awards that are granted under this Plan prior to
its termination will continue to be administered under the terms of this Plan until the Awards terminate, expire or are exercised.  

 

[SIGNATURE PAGE TO FOLLOW] 

 

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The foregoing 2018 Incentive
Stock Plan was duly adopted and approved by the Board of Directors on September 28, 2018.

 

	 	
        ZEV VENTURES INCORPORATED,

        a Nevada corporation 
	 
	 	 	 	 
	 	By:	/s/ Eric Brock	 
	 	 	Name: Eric Brock	 
	 	 	Title:  Chief Executive Officer	 

 

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