Document:

Exhibit
10.4

 

THE
SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
OR THE SECURITIES LAWS OF ANY STATE AND ARE BEING OFFERED AND SOLD IN RELIANCE UPON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT. THE SECURITIES PURCHASED HEREUNDER MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE SECURITIES
ACT AND OTHER APPLICABLE LAWS PURSUANT TO REGISTRATION OR EXEMPTION FROM REQUIREMENTS THEREUNDER.

 

EVO
Transportation & Energy Services, Inc.

 

SUBSCRIPTION
AGREEMENT

 

This
Subscription Agreement (this “Agreement”) is made as of July 15, 2019 between EVO Transportation & Energy
Services, Inc., a Delaware corporation (the “Company”) and James Finkle, Jr. (the “Subscriber”).

 

On
the date hereof, the Subscriber and the Company consummated the transactions contemplated by that certain Stock Purchase and Exchange
Agreement dated as of even date herewith (the “Purchase Agreement”), pursuant to which the outstanding Equity
Interests (as defined in the Purchase Agreement) issued to Subscriber converted into the right to receive, among other things
as set forth in the Purchase Agreement, 625,000 shares of Common Stock of the Company.

 

Pursuant
to the terms of, and conditioned on the consummation of the closing under, the Purchase Agreement, Subscriber is willing to purchase,
and the Company is willing to issue and sell to the Subscriber, the number of shares of common stock of the Company (the “Securities”)
set forth on Exhibit A hereto, all on the terms and subject to the conditions set forth herein and in the Purchase Agreement.

 

		1.	Subscription
                                         and Purchase Price.

 

(a) Subscription.
On the terms and subject to the conditions set forth herein and in the Purchase Agreement, the undersigned hereby subscribes for
and agrees to purchase the Securities set forth on Exhibit A hereto, on the date of the closing under the Purchase Agreement
and subject to the consummation of such closing under the Purchase Agreement.

 

(b) The
Subscriber understands and agrees that, subject to applicable laws, by executing this Agreement, he, she or it is entering into
a binding agreement.

 

		2.	Subscriber’s
                                         Representations, Warranties and Agreements

 

The
undersigned hereby acknowledges, agrees with and represents and warrants to the Company and its affiliates, as follows, in each
case as of the date hereof:

 

(a) The
undersigned has full power and authority to enter into this Agreement, the execution and delivery of which has been duly authorized,
if applicable, and this Agreement constitutes a valid and legally binding obligation of the undersigned.

 

     

     

    

 

(b) The
undersigned acknowledges his, her or its understanding that the offering and sale of the Securities is intended to be exempt from
registration under the Securities Act of 1933, as amended (the “Securities Act”), by virtue of Section 4(a)(2)
of the Securities Act and the provisions of Regulation D promulgated thereunder (“Regulation D”). In furtherance
thereof, the undersigned represents and warrants to the Company and its affiliates as follows:

 

(i) The
undersigned is acquiring the Securities solely for the undersigned’s own beneficial account, for investment purposes, and
not with view to, or resale in connection with, any distribution of the Securities;

 

(ii) The
undersigned has the financial ability to bear the economic risk of his, her or its investment, has adequate means for providing
for their current needs and contingencies, and has no need for liquidity with respect to the investment in the Company;

 

(iii) The
undersigned and the undersigned’s attorney, accountant, purchaser representative and/or tax advisor, if any (collectively,
“Advisors”), have received all documents requested by the undersigned or Advisors, if any, and have carefully
reviewed them and understand the information contained therein, prior to the execution of this Agreement; and

 

(iv)The
undersigned (together with his, her or its Advisors, if any) has such knowledge and experience in financial and business matters
as to be capable of evaluating the merits and risks of the prospective investment in the Securities. If other than an individual,
the undersigned also represents it has not been organized solely for the purpose of acquiring the Securities.

 

(c) The
information in the Investor Questionnaire (attached as Appendix A) completed and executed by the undersigned (the “Investor
Questionnaire”) is true and accurate in all respects, and the undersigned is an “accredited investor,” as
that term is defined in Rule 501(a) of Regulation D.

 

(d) The
undersigned has relied on the advice of, or has consulted with, only his, her or its Advisors. Each Advisor, if any, is capable
of evaluating the merits and risks of an investment in the Securities, and each Advisor, if any, has disclosed to the undersigned
in writing (a copy of which is annexed to this Agreement) the specific details of any and all past, present or future relationships,
actual or contemplated, between the Advisor and the Company or any affiliate thereof.

 

(e) The
undersigned represents, warrants and agrees that he, she or it will not sell or otherwise transfer the Securities without registration
under the Securities Act or an exemption therefrom, and fully understands and agrees that the undersigned must bear the economic
risk of his, her or its purchase because, among other reasons, the Securities have not been registered under the Securities Act
or under the securities laws of any state and, therefore, cannot be resold, pledged, assigned or otherwise disposed of unless
they are subsequently registered under the Securities Act and under the applicable securities laws of such states, or an exemption
from such registration is available. In particular, the undersigned is aware that the Securities are “restricted securities,”
as such term is defined in Rule 144 promulgated under the Securities Act (“Rule 144”), and they may not be
sold pursuant to Rule 144 unless all of the conditions of Rule 144 are met. The undersigned also understands that, except as set
forth in Section 4(a) of this Agreement, the Company is under no obligation to register the Securities on his, her or its behalf
or to assist them in complying with any exemption from registration under the Securities Act or applicable state securities laws.
The undersigned understands that any sales or transfers of the Securities are further restricted by state securities laws.

 

(f) No
representations or warranties have been made to the undersigned by the Company, other than any representations of the Company
contained herein or in the Purchase Agreement or in any document referred to in the Purchase Agreement, and in subscribing for
the Securities the undersigned is not relying upon any representations other than those contained herein or in the Purchase Agreement
or in any document referred to in the Purchase Agreement.

 

(g) The
undersigned understands and acknowledges that his, her or its purchase of the Securities is a speculative investment that involves
a high degree of risk and the potential loss of their entire investment and has carefully read and considered the matters set
forth in the Company’s reports filed with the U.S. Securities and Exchange Commission (“SEC”), including
in particular the matters under the caption “Risk Factors” contained in the Company’s Annual Report on Form
10-K filed with the SEC on April 17, 2018 and the subsequently filed Quarterly Reports on Form 10-Q.

 

    2

     

    

 

(h) The
undersigned understands and agrees that the Securities may bear substantially the following legend until (i) such Securities shall
have been registered under the Securities Act and effectively disposed of in accordance with a registration statement that has
been declared effective or (ii) in the opinion of counsel for the Company such Securities may be sold without registration under
the Securities Act, as well as any applicable “blue sky” or state securities laws:

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS. SUCH SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT PURPOSES AND MAY NOT BE
OFFERED FOR SALE, SOLD, DELIVERED AFTER SALE, TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT FILED BY THE ISSUER WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION COVERING SUCH SECURITIES UNDER THE SECURITIES ACT
OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH REGISTRATION IS NOT REQUIRED.

 

(i) Neither
the SEC nor any state securities commission has approved the Securities or passed upon or endorsed the merits of the offering
or confirmed the accuracy or determined the adequacy of any information provided to Subscriber. This offering has not been reviewed
by any Federal, state or other regulatory authority.

 

(j) The
undersigned and his, her or its Advisors, if any, have had a reasonable opportunity to ask questions of and receive answers from
a person or persons acting on behalf of the Company concerning the offering of the Securities and the business, financial condition,
results of operations and prospects of the Company, and all such questions have been answered to the full satisfaction of the
undersigned and his, her or its Advisors, if any.

 

(k) The
undersigned is unaware of, is in no way relying on, and did not become aware of the offering of the Securities through or as a
result of, any form of general solicitation or general advertising including, without limitation, any article, notice, advertisement
or other communication published in any newspaper, magazine or similar media or broadcast over television or radio, or electronic
mail over the Internet, in connection with the offering and sale of the Securities and is not subscribing for Securities and did
not become aware of the offering of the Securities through or as a result of any seminar or meeting to which the undersigned was
invited by, or any solicitation of a subscription by, a person not previously known to the undersigned in connection with investments
in securities generally.

 

(l) The
undersigned has taken no action that would give rise to any claim by any person for brokerage commissions, finders’ fees
or the like relating to this Agreement or the transactions contemplated hereby.

 

(m) The
undersigned is not relying on the Company with respect to the legal, tax, economic and related considerations of an investment
in the Securities, and the undersigned has relied on the advice of, or has consulted with, only his, her or its own Advisors.

 

(n) The
undersigned acknowledges that any estimates or forward-looking statements or projections included in the Company’s filings
with the SEC were prepared by the management of the Company in good faith, but that the attainment of any such projections, estimates
or forward-looking statements cannot be guaranteed by the Company or its management and should not be relied upon.

 

    3

     

    

 

(o) No
oral or (except as set forth herein or in the Purchase Agreement or the documents referred to therein) written representations
have been made, or oral or written information furnished, to the undersigned or his, her or its Advisors, if any, in connection
with the offering of the Securities.

 

(p) The
undersigned agrees, acknowledges and understands that during the period commencing on the date hereof through the Company’s
public announcement of the transactions contemplated by the Purchase Agreement, the undersigned will not directly or indirectly,
through related parties, affiliates or otherwise, purchase, sell “short” or “short against the box” (as
those terms are generally understood) any equity security of the Company.

 

(q) The
foregoing representations, warranties and agreements will survive the completion of the issuance of the Securities hereunder.

 

		3.	Notices
                                         to Subscriber

 

(a) THE
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR THE SECURITIES LAWS OF ANY STATE AND ARE BEING OFFERED AND SOLD
IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH LAWS. THE SECURITIES HAVE NOT BEEN
APPROVED OR DISAPPROVED BY THE SEC, ANY STATE SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING
AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF ANY INFORMATION PROVIDED TO SUBSCRIBER.
ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.

 

(b) THE
SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED
UNDER THE SECURITIES ACT, AND APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. SUBSCRIBER SHOULD
BE AWARE THAT HE MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME.

 

		4.	Miscellaneous
                                         Provisions

 

(a) Piggy-Back
Registration. If at any time on or after the date hereof, the Company proposes to file any registration statement (other than
any registration on Form S-4, S-8 or any other similarly inappropriate form, or any successor forms thereto) under the Securities
Act covering a public offering of the Company’s common stock, it will notify the Subscriber at least ten (10) days prior
to each such filing and will use its best efforts to include in such Registration Statement (to the extent permitted by applicable
regulation), the Securities purchased by the Subscriber hereunder and/or any shares of common stock issued pursuant to the Buyer
Note (as defined in the Purchase Agreement) to the extent requested by the Subscriber within five (5) days after receipt of notice
of such filing (which request shall specify the shares of common stock of the Company intended to be sold or disposed of by the
Subscriber and describe the nature of any proposed sale or other disposition thereof); provided, however, that if
a greater number of shares of the Company’s common stock is offered for participation in the proposed offering than in the
reasonable opinion of the managing underwriter (if any) of the proposed offering can be accommodated without adversely affecting
the proposed offering, then the amount of shares of common stock of the Company proposed to be offered by the Subscriber for registration,
as well as the number of securities of any other selling stockholders participating in the registration, will be proportionately
reduced to a number deemed satisfactory by the managing underwriter. The Company will bear all expenses and fees incurred in connection
with the preparation, filing, and amendment of the registration statement with the SEC, except that the Subscriber shall pay all
fees, disbursements and expenses of any counsel or expert retained by the Subscriber and all underwriting discounts and commissions,
filing fees and any transfer or other taxes relating to the Securities included in the registration statement. The Subscriber
agrees to cooperate with the Company in the preparation and filing of any registration statement, and in the furnishing of information
concerning the Subscriber for inclusion therein, or in any efforts by the Company to establish that the proposed sale is exempt
under the Securities Act as to any proposed distribution.

 

    4

     

    

 

(b) Modification.
Neither this Agreement, nor any provisions hereof, may be waived, modified, discharged or terminated except by an instrument in
writing signed by the party against whom any waiver, modification, discharge or termination is sought.

 

(c) Survival.
The undersigned’s representations and warranties made in this Subscription Agreement survive the execution and delivery
of this Agreement and the delivery of the Securities.

 

(d) Notices.
Any party may send any notice, request, demand, claim or other communication hereunder to the undersigned at the address set forth
on the signature page of this Agreement or to the Company at the address set forth above using any means (including personal delivery,
expedited courier, messenger service, fax, ordinary mail or email), but no such notice, request, demand, claim or other communication
will be deemed to have been duly given unless and until it actually is received by the intended recipient. Any party may change
the address to which notices, requests, demands, claims and other communications hereunder are to be delivered by giving the other
parties written notice in the manner herein set forth.

 

(e) Binding
Effect. Except as otherwise provided herein, this Agreement is binding upon, and inures to the benefit of, the parties to
this Agreement and their heirs, executors, administrators, successors, legal representatives and assigns. If the undersigned is
more than one person or entity, the obligation of the undersigned is joint and several and the agreements, representations, warranties
and acknowledgments contained herein are deemed to be made by, and are binding upon, each such person or entity and his, her or
its heirs, executors, administrators, successors, legal representatives and assigns. This Agreement sets forth the entire agreement
and understanding between the parties as to the subject matter thereof and merges and supersedes all prior discussions, agreements
and understandings of any and every nature among them.

 

(f) Assignability.
This Agreement is not transferable or assignable by the undersigned, except that the rights of Subscriber under Section 4(a) hereof
are transferrable and assignable by the undersigned upon written notice of such transfer or assignment to the Company as part
of any transfer of any Securities and/or any shares of common stock issued pursuant to the Buyer Note (as defined in the Purchase
Agreement) by the undersigned to such Subscriber’s spouse, children (whether natural, step or by adoption), grandchildren
(whether natural, step or by adoption), named beneficiary, sibling, parents or to a trust, partnership or limited liability company
solely for the benefit of one or more of any of such Persons.

 

(g) Governing
Law and Venue. This Agreement is governed by and construed in accordance with the laws of the State of Delaware, without giving
effect to conflicts of law principles. Each party to this Agreement hereby irrevocably submits to the exclusive jurisdiction and
venue of the state courts of the State of Delaware or the United States District Court located in the State of Delaware for the
purpose of any action between the parties arising in whole or in part under or in connection with this Agreement.

 

(h) Counterparts.
This Agreement may be executed in two or more counterparts, each of which will be deemed an original, but all of which together
will constitute one and the same instrument.

 

[Remainder
of page left intentionally blank]

 

    5

     

    

 

ALL
SUBSCRIBERS MUST COMPLETE THIS PAGE

 

IN
WITNESS WHEREOF, the undersigned has executed this Agreement as of July 15, 2019.

 

Manner
in which Title is to be held (Please Check One):

 

	1.	☒	Individual	7.	☐	Trust/Estate/Pension
                                         or Profit Sharing Plan

        Date
        Opened:______________

	 	 	 	 	 	 
	2.	☐	Joint
    Tenants with Right of Survivorship	8.	☐	As
    a Custodian for
	 	 	 	 	 	______________________________________
	 	 	 	 	 	Under
    the Uniform Gift to Minors Act of the State of
	 	 	 	 	 	______________________________________
	 	 	 	 	 	 
	3.	☐	Community
    Property	9.	☐	Married
    with Separate Property
	 	 	 	 	 	 
	4.	☐	Tenants
    in Common	10.	☐	Keogh
	 	 	 	 	 	 
	5.	☐	Corporation/Partnership/
    Limited Liability Company	11.	☐	Tenants
    by the Entirety
	 	 	 	 	 	 
	6.	☐	IRA	 	 	 

 

ALTERNATIVE
DISTRIBUTION INFORMATION

 

To
direct distribution to a party other than the registered owner, complete the information below. YOU MUST COMPLETE THIS SECTION
IF THIS IS AN IRA INVESTMENT.

 

Name
of Firm (Bank, Brokerage, Custodian): ____________________________________________________________

 

Account
Name: _________________________________________________________________________________

 

Account
Number: _______________________________________________________________________________

 

Representative
Name: ____________________________________________________________________________

 

Representative
Phone Number: _____________________________________________________________________

 

Address:
______________________________________________________________________________________

 

City,
State, Zip: _________________________________________________________________________________

 

IF
MORE THAN ONE SUBSCRIBER, EACH SUBSCRIBER MUST SIGN.

INDIVIDUAL SUBSCRIBERS MUST COMPLETE THE NEXT PAGE.

SUBSCRIBERS WHICH ARE ENTITIES MUST COMPLETE THE PAGE THEREAFTER.

 

     

     

    

 

EXECUTION
BY NATURAL PERSONS

 

	 		 
	 	Exact
    Name in Which Title is to be Held	 

 

	James
                                         Finkle

        
	 	

        

        

	Name
    (Please Print)	 	Name
    of Additional Subscriber
	 	 	 
	 	 	 
	Residence:
    Number and Street	 	Address
                                         of Additional Subscriber

        

	 	 	 
	 	 	 
	City,
    State and Zip Code	 	City,
                                         State and Zip Code 

	 	 	 
	 	 	 
	Social
    Security Number	 	Social
                                         Security Number

        

	 	 	 
	 	 	 
	Telephone
    Number 	 	Telephone
    Number
	 	 	 
	 	 	 
	Fax
    Number (if available)	 	Fax
    Number (if available)
	 	 	 
	 	 	 
	E-Mail
    	 	E-Mail
    (if available)
	 	 	 
	/s/
                                         James Finkle 

        
	 	

        

	(Signature)	 	(Signature
    of Additional Subscriber)

 

ACCEPTED as of July 15, 2019, on
behalf of the Company.

 

	 	By:	/s/
    Damon Cuizk
	 	 	President

 

     

     

    

 

EXECUTION
BY SUBSCRIBER WHICH IS AN ENTITY

(e.g.,
corporation, partnership, LLC, trust, etc.)

 

	 
	Name
    of Entity (Please Print)
	 

 

	Date
    of Incorporation or Organization: 	 
	 	 
	 	 
	State
    of Principal Office: 	 
	 	 
	 	 
	Federal
    Taxpayer Identification Number: 	 
		 
	 	 
	Office
    Address	 
		 
	 	 
	City,
    State and Zip Code	 
		 
	 	 
	Telephone
    Number	 
		 
	 	 
	Fax
    Number (if available)	 
		 
	 	 
	E-Mail
    (if available)	 

 

	 	By:
    	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 
	 	 
	 	 
	 	Address

 

ACCEPTED
as of ________, 2019, on behalf of the Company.

 

	 	By:
    	_________________________________ 
	 	 	President

 

     

     

    

 

Appendix
A

 

INVESTOR
QUESTIONNAIRE

 

Instructions:
Check all boxes below which correctly describe you.

 

		☐	The
                                         Subscriber is (i) a bank, as defined in Section 3(a)(2) of the Securities Act
                                         of 1933, as amended (the “Securities Act”), (ii) a savings
                                         and loan association or other institution, as defined in Section 3(a)(5)(A) of the Securities
                                         Act, whether acting in an individual or fiduciary capacity, (iii) a broker or
                                         dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934, as amended
                                         (the “Exchange Act”), (iv) an insurance company as defined
                                         in Section 2(13) of the Securities Act, (v) an investment company registered under
                                         the Investment Company Act of 1940, as amended (the “Investment Company Act”),
                                         (vi) a business development company as defined in Section 2(a)(48) of the Investment
                                         Company Act, (vii) a Small Business Investment Company licensed by the U.S. Small
                                         Business Administration under Section 301 (c) or (d) of the Small Business Investment
                                         Act of 1958, as amended, (viii) a plan established and maintained by a state,
                                         its political subdivisions, or an agency or instrumentality of a state or its political
                                         subdivisions, for the benefit of its employees and you have total assets in excess of
                                         $5,000,000, or (ix) an employee benefit plan within the meaning of the Employee
                                         Retirement Income Security Act of 1974, as amended (“ERISA”) and (1)
                                         the decision that you shall subscribe for and purchase the Securities, is made by a plan
                                         fiduciary, as defined in Section 3(21) of ERISA, which is either a bank, savings and
                                         loan association, insurance company, or registered investment adviser, (2) you have total
                                         assets in excess of $5,000,000 and the decision that you shall subscribe for and purchase
                                         the Securities is made solely by persons or entities that are accredited investors, as
                                         defined in Rule 501 of Regulation D promulgated under the Securities Act (“Regulation
                                         D”) or (3) you are a self-directed plan and the decision that you shall
                                         subscribe for and purchase the Securities is made solely by persons or entities that
                                         are accredited investors.

 

		☐	The
                                         Subscriber is a private business development company as defined in Section 202(a)(22)
                                         of the Investment Advisers Act of 1940, as amended.

 

		☐	The
                                         Subscriber is an organization described in Section 501(c)(3) of the Internal Revenue
                                         Code of 1986, as amended (the “Code”), a corporation, Massachusetts
                                         or similar business trust or a partnership, in each case not formed for the specific
                                         purpose of making an investment in the Securities and with total assets in excess of
                                         $5,000,000.

 

		☒	The
                                         Subscriber is a director or executive officer of the Company.

 

		☒	The
                                         Subscriber is a natural person whose individual net worth, or joint net worth with my
                                         spouse, exceeds $1,000,000 at the time of my subscription for and purchase of the Securities.
                                         For purposes of this Subscription Agreement, “net worth” means the excess
                                         of total assets at fair market value, including real and personal property, but excluding
                                         the value of your primary residence, over total liabilities. Total liabilities excludes
                                         any mortgage on the primary residence in an amount of up to the home’s estimated
                                         fair market value, but includes (i) any mortgage amount in excess of the home’s
                                         fair market value and (ii) any mortgage amount that was borrowed during the 60-day period
                                         before the closing date for the sale of Securities for the purpose of investing in the
                                         Securities.

 

		☐	The
                                         Subscriber is a natural person who had an individual income in excess of $200,000 in
                                         each of the two most recent years or joint income with my spouse in excess of $300,000
                                         in each of the two most recent years, and who has a reasonable expectation of reaching
                                         the same income level in the current year.

 

    A-1

     

    

 

Appendix
A

 

		☐	The
                                         Subscriber is a trust, with total assets in excess of $5,000,000, not formed for the
                                         specific purpose of acquiring the Securities, whose subscription for and purchase of
                                         the Securities is directed by a sophisticated person as described in Rule 506(b)(2)(ii)
                                         of Regulation D.

 

		☐	The
                                         Subscriber is an entity in which all of the equity owners are persons or entities described
                                         in one of the preceding paragraphs. Note: For Subscribers attempting to qualify
                                         under this item, each equity owner must complete, sign and return to the Company a separate
                                         copy of this Questionnaire).

 

		☐	The
                                         Subscriber does NOT meet any of the foregoing categories.

 

The
undersigned hereby represents and warrants that all of its answers to this Investor Questionnaire are true as of the date of its
execution of the Subscription Agreement pursuant to which it purchased Securities of the Company.

 

	James
    Finkle 	 	 
	Name of Subscriber
    [please print]	 	Name of Co-Subscriber
    [please print]
	 	 	 
	/s/
    James Finkle 	 	 
	Signature
    of Subscriber (Entities please	 	Signature
    of Co-Subscriber
	provide signature
    of Subscriber’s duly	 	 
	authorized
    signatory.)	 	 
	 	 	 
	 	 	7/17/2019
	Name of Signatory
    (Entities only)	 	Date
	 	 	 
	 	 	 
	Title of
    Signatory (Entities only)	 	 
	 	 	 

 

    A-2

     

    

 

EXHIBIT
A

SUBSCRIPTION
SECURITIES

 

625,000
shares of Common StockExhibit 10.5

 

EXECUTIVE EMPLOYMENT
AGREEMENT

 

This Executive
Employment Agreement (the “Agreement”) is entered into and effective as of July 22, 2019 (the “Effective
Date”), by and between EVO Transportation & Energy Services, Inc. (the “Company”) and
Eugene S. Putnam, Jr. (“Executive”).

 

1. Duties and Scope of Employment.

 

(a) Positions
and Duties. During the Employment Term (as defined below), Executive will be employed as the Chief Financial Officer of the Company.
Executive’s authority, duties, and responsibilities will correspond to Executive’s position and will include any particular
authority, duties, and responsibilities consistent with the Executive’s position that the Company may assign to Executive
from time to time.

 

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

 

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

 

     

     

    

 

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

 

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

 

3. Compensation.

 

(a) Initial Base
Salary. During the Employment Term, the Company will pay Executive an annual base salary as compensation for his services (the
“Base Salary”) at the initial rate of $230,000.00. The Base Salary will be paid periodically in accordance
with the Company’s normal payroll practices. The Base Salary will be subject to review and adjustments will be made based
upon the Company’s standard practices.

 

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

 

    2

     

    

 

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

 

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

 

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

 

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

 

7. Accrued Obligations; Severance;
COBRA.

 

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

 

    3

     

    

 

(b) Severance.
If the Employment Term ends by reason of either termination by Executive for Good Reason or by the Company’s At-Will Termination,
the Company shall pay to Executive the greater of (as applicable, “Severance Pay”) (i) an amount equal
to the product of (A) the number of full or partial months, if any, in the period beginning on the date the Employment Term ended
and ending on the date the Initial Term would have ended, if later than the date the Employment Term actually ended, multiplied
by (B) Executive’s monthly Base Salary (as in effect immediately prior to the termination date) or (ii) an amount equal
to one-half of Executive’s annual Base Salary (as in effect immediately prior to the termination date). The Severance Pay
shall be paid by the Company to Executive in substantially equal monthly installments, without reduction or set off (other than
as provided in Section 11(a) below), in accordance with the Company’s standard payroll procedures, commencing on the 60th
day following the termination or expiration of the Employment Term, provided that the revocation period(s) set forth in the Release
Agreement set forth in Section 8(a) below have expired without revocation. If the Employment Terms ends by reason of termination
by the Company for Cause, by the Company’s Non-Renewal or Executive’s Non-Renewal of the Initial Term or any Renewal
Term, by Executive’s At-Will Termination, or due to Executive’s death or disability, no Severance Pay will be owing
or paid to Executive.

 

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

    4

     

    

 

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

 

(a) Release of
Claims. The receipt of Severance Pay and Severance Benefits will be subject to Executive signing, delivering, not revoking and
complying with a general release and waiver of claims in favor of the Company and its officers, directors and affiliates which
general release and waiver of claims shall be in a form prepared by the Company, in its reasonable discretion.

 

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

 

9. Restrictive Covenants.

 

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

 

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

 

    5

     

    

 

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

 

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

 

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

 

    6

     

    

 

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

 

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

 

    7

     

    

 

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

 

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

 

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

 

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

 

    8

     

    

 

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

 

(d) “Competing
Business” means (i) a business that is engaged in the acquisition or operation of compressed natural gas fueling
stations, (ii) a business that is engaged in providing freight trucking services, or (iii) any other business in which the Company
or any of its Affiliates is then-currently engaged or was engaged at any time in the twelve (12) month period prior to Executive’s
last day of employment with the Company.

 

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

 

(f) “Disability”
means Executive’s inability to perform one or more essential functions of his position, after taking into account reasonable
accommodations, by reason of any medically diagnosed physical or mental impairment and such inability continues for a period of
at least 120 consecutive calendar days. A determination of such Disability will be made by a physician reasonably acceptable to
the Company and Executive (or, if applicable, his spouse or legal representative).

 

    9

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

11. Tax Matters

 

Withholding. All
payments made pursuant to this Agreement will be

 

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

 

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

 

    10

     

    

 

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

 

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

 

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

 

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

 

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

 

    11

     

    

 

(d) Limitation
on Payments Under Certain Circumstances.

 

(i) Notwithstanding
any other provision of this Agreement to the contrary, in the event that Executive becomes entitled to receive or receives any
payments, options, awards or benefits (including, without limitation, the monetary value of any non-cash benefits and the accelerated
vesting of stock awards) under any agreement, arrangement, plan or program with the Company or any person affiliated with the Company
(collectively, the “Payments”), that may separately or in the aggregate constitute “parachute payments”
within the meaning of Code Section 280G and the Treasury regulations promulgated thereunder (“Section 280G”)
and it is determined that, but for this Section 12(d)(i), any of the Payments will be subject to any excise tax pursuant to Code
Section 4999 or any similar or successor provision (the “Excise Tax”), the Company shall pay to Executive
either (i) the full amount of the Payments or (ii) an amount equal to the Payments reduced by the minimum amount necessary to prevent
any portion of the Payments from being an “excess parachute payment” (within the meaning of Section 280G) (the “Capped
Payments”), whichever of the foregoing amounts results in the receipt by Executive, on an after-tax basis (with consideration
of all taxes incurred in connection with the Payments, including the Excise Tax), of the greatest amount of Payments notwithstanding
that all or some portion of the Payments may be subject to the Excise Tax. For purposes of determining whether Executive would
receive a greater after-tax benefit from the Capped Payments than from receipt of the full amount of the Payments and for purposes
of Section 11(d)(iii) (if applicable), Executive shall be deemed to pay federal, state and local taxes at the highest marginal
rate of taxation for the applicable calendar year.

 

(ii) All computations
and determinations called for by Sections 11(d)(i) and 11(d)(iii) shall be made and reported in writing to the Company and Executive
by a third-party service provider selected by the Company and Executive (the “Tax Advisor”), and all
such computations and determinations shall be conclusive and binding on the Company and Executive. For purposes of such calculations
and determinations, the Tax Advisor may rely on reasonable, good faith interpretations concerning the application of Code Sections
280G and 4999. The Company and Executive shall furnish to the Tax Advisor such information and documents as the Tax Advisor may
reasonably request in order to make their required calculations and determinations. The Company shall bear all fees and expenses
charged by the Tax Advisor in connection with its services.

 

(iii) In the event
that Section 11(d)(i) applies and a reduction is required to be applied to the Payments thereunder, the Payments shall be reduced
by the Company in a manner and order of priority that provides Executive with the largest net after-tax value; provided that payments
of equal after-tax present value shall be reduced in the reverse order of payment. Notwithstanding anything to the contrary herein,
any such reduction shall be structured in a manner intended to comply with Section 409A.

 

    12

     

    

 

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

 

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

 

If to the Company:

 

EVO Transportation &
Energy Services, Inc.

 

8285 West Lake Pleasant Parkway

Peoria, AZ 85382

Attention: John P. Yeros

 

If to Executive:

 

Eugene S. Putnam, Jr.

___________

Phoenix, AZ

 

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

 

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

 

    13

     

    

 

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

 

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

 

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

 

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

 

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

 

{Signature Page
Follows}

 

    14

     

    

 

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

 

COMPANY:

EVO Transportation & Energy Services, Inc.

 

	By:	 /s/ John Yeros	 
	Name: 	 John Yeros	 
	Title: 	CEO	 
	Date:	 July __, 2019	 
	 	 
	EXECUTIVE:	 
	 	 
	By: 	/s/ Eugene S. Putnam, Jr.	 
	Name:	 Eugene S. Putnam, Jr.	 
	Date: 	July 22, 2019

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