Document:

Exhibit 10.2

 

2022 Stock Incentive Plan

 

ev TRANSPORTATION SERVICES, INC.

 

2022 Stock Incentive Plan

 

1. Purpose

 

The purpose of this 2022
Stock Incentive Plan (the “Plan”) of ev Transportation Services, Inc., a Delaware corporation (the “Company”),
is to advance the interests of the Company’s stockholders by enhancing the Company’s ability to attract, retain and motivate
persons who are expected to make important contributions to the Company by providing such persons with equity ownership opportunities
and performance-based incentives that are intended to better align the interests of such persons with those of the Company’s stockholders.
Except where the context otherwise requires, the term “Company” shall include any of the Company’s present or
future parent or subsidiary corporations as defined in Sections 424(e) or (f) of the Internal Revenue Code of 1986, as amended, and
any regulations thereunder (the “Code”) and any other business venture (including, without limitation, a joint venture
or limited liability company) in which the Company has a controlling interest, as determined by the Board of Directors of the Company
(the “Board”).

 

2. Eligibility

 

All of the Company’s
employees, officers and directors, as well as consultants and advisors to the Company (as such terms consultants and advisors are defined
and interpreted for purposes of Form S-8 under the Securities Act of 1933, as amended (the “Securities Act”), or any
successor form) are eligible to be granted Awards (as defined below) under the Plan. Each person who is granted an Award under the Plan
is deemed a “Participant.” “Award” means Options (as defined in Section 5), SARs (as defined
in Section 6), Restricted Stock (as defined in Section 7), Restricted Stock Units (as defined in Section 7) and Other Stock-Based
Awards (as defined in Section 8).

 

3. Administration and Delegation

 

(a) Administration by
Board of Directors. The Plan will be administered by the Board. The Board shall have authority to grant Awards and to adopt, amend and
repeal such administrative rules, guidelines and practices relating to the Plan as it shall deem advisable. The Board may construe and
interpret the terms of the Plan and any Award agreements entered into under the Plan. The Board may correct any defect, supply any omission
or reconcile any inconsistency in the Plan or any Award in the manner and to the extent it shall deem expedient and it shall be the sole
and final judge of such expediency. All decisions by the Board shall be made in the Board’s sole discretion and shall be final and
binding on all persons having or claiming any interest in the Plan or in any Award.

 

(b) Appointment of Committees.
To the extent permitted by applicable law, the Board may delegate any or all of its powers under the Plan to one or more committees or
subcommittees of the Board (a “Committee”). All references in the Plan to the “Board” shall mean
the Board or a Committee of the Board or the officers referred to in Section 3(c) to the extent that the Board’s powers or
authority under the Plan have been delegated to such Committee or officers.

 

(c) Delegation to Officers.
Subject to any requirements of applicable law (including as applicable Sections 152 and 157(c) of the General Corporation Law of the State
of Delaware), the Board may delegate to one or more officers of the Company the power to grant Awards (subject to any limitations under
the Plan) to employees or officers of the Company and to exercise such other powers under the Plan as the Board may determine, provided
that the Board shall fix the terms of Awards to be granted by such officers, the maximum number of shares subject to Awards that the officers
may grant, and the time period in which such Awards may be granted; and provided further, that no officer shall be authorized to grant
Awards to any “executive officer” of the Company (as defined by Rule 3b-7 under the Securities Exchange Act of 1934, as amended
(the “Exchange Act”)) or to any “officer” of the Company (as defined by Rule 16a-1(f) under the Exchange
Act).

 

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4. Stock Available for Awards

 

(a) Number of Shares;
Share Counting.

 

(1) Authorized Number
of Shares. Subject to adjustment under Section 9, Awards may be made under the Plan for up to such number of shares of common stock,
$0.001 par value per share, of the Company (the “Common Stock”) as is equal to the sum of:

 

(A) [●] shares
of Common Stock; plus

 

(B) an annual increase
to be added on the first day of each fiscal year, beginning with the fiscal year beginning on January 1, 2023 and continuing for each
fiscal year until, and including, the fiscal year ending December 31, 2031, equal to the lesser of (i) 4% of the outstanding shares
of Common Stock of the Company on such date and (ii) the number of shares of Common Stock determined by the Board.

 

Shares issued under the Plan
may consist in whole or in part of authorized but unissued shares or treasury shares.

 

(2) Share Counting.
For purposes of counting the number of shares available for the grant of Awards under the Plan under this Section 4(a):

 

(A) all shares of Common
Stock covered by SARs shall be counted against the number of shares available for the grant of Awards under the Plan; provided, however,
that (i) SARs that may be settled only in cash shall not be so counted and (ii) if the Company grants an SAR in tandem with
an Option for the same number of shares of Common Stock and provides that only one such Award may be exercised (a “Tandem SAR”),
only the shares covered by the Option, and not the shares covered by the Tandem SAR, shall be so counted, and the expiration of one in
connection with the other’s exercise will not restore shares to the Plan;

 

(B) to the extent a
Restricted Stock Unit award may be settled only in cash, no shares shall be counted against the shares available for the grant of Awards
under the Plan;

 

(C) if any Award (i) expires
or is terminated, surrendered or canceled without having been fully exercised or is forfeited in whole or in part (including as the result
of shares of Common Stock subject to such Award being repurchased by the Company at the original issuance price pursuant to a contractual
repurchase right) or (ii) results in any Common Stock not being issued (including as a result of an SAR that was settleable either
in cash or in stock actually being settled in cash), the unused Common Stock covered by such Award shall again be available for the grant
of Awards; provided, however, that (1) in the case of Incentive Stock Options, the foregoing shall be subject to any limitations
under the Code, (2) in the case of the exercise of an SAR, the number of shares counted against the shares available under the Plan
shall be the full number of shares subject to the SAR multiplied by the percentage of the SAR actually exercised, regardless of the number
of shares actually used to settle such SAR upon exercise and (3) the shares covered by a Tandem SAR shall not again become available
for grant upon the expiration or termination of such Tandem SAR; and

 

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(D) shares of Common
Stock delivered (by actual delivery, attestation, or net exercise) to the Company by a Participant to (i) purchase shares of Common
Stock upon the exercise of an Award or (ii) satisfy tax withholding obligations with respect to Awards (including shares retained
from the Award creating the tax obligation) shall be added back to the number of shares available for the future grant of Awards.

 

(b) Substitute Awards.
In connection with a merger or consolidation of an entity with the Company or the acquisition by the Company of property or stock of an
entity, the Board may grant Awards in substitution for any options or other stock or stock-based awards granted by such entity or an affiliate
thereof. Substitute Awards may be granted on such terms as the Board deems appropriate in the circumstances, notwithstanding any limitations
on Awards contained in the Plan. Substitute Awards shall not count against the overall share limit set forth in Section 4(a)(1) or
any sublimit contained in the Plan, except as may be required by reason of Section 422 and related provisions of the Code.

 

(c) Limit on Awards
to Non-Employee Directors. The maximum aggregate amount of cash and value (calculated based on grant date fair value for financial reporting
purposes) of Awards granted in any calendar year to any individual non-employee director in his or her capacity as a non-employee director
shall not exceed $ [●]; provided, however, that such maximum aggregate amount shall not exceed $ [●] in any calendar year
for any individual non-employee director in such non-employee director’s initial year of election; and provided, further, however,
that fees paid by the Corporation on behalf of any non-employee director in connection with regulatory compliance and any amounts paid
to a non-employee director as reimbursement of an expense shall not count against the foregoing limit. The Board may make additional exceptions
to this limit for individual non-employee directors in extraordinary circumstances, as the Board may determine in its discretion, provided
that the non-employee director receiving such additional compensation may not participate in the decision to award such compensation.
For the avoidance of doubt, this limitation shall not apply to cash or Awards granted to the non-employee director in his or her capacity
as an advisor or consultant to the Company.

 

5. Stock Options

 

(a) General. The Board
may grant options to purchase Common Stock (each, an “Option”) and determine the number of shares of Common Stock to
be covered by each Option, the exercise price of each Option and the conditions and limitations applicable to the exercise of each Option,
including conditions relating to applicable federal or state securities laws, as it considers necessary or advisable.

 

(b) Incentive Stock
Options. An Option that the Board intends to be an “incentive stock option” as defined in Section 422 of the Code (an
“Incentive Stock Option”) shall only be granted to employees of ev Transportation Services, Inc., any of its present
or future parent or subsidiary corporations as defined in Sections 424(e) or (f) of the Code, and any other entities the employees
of which are eligible to receive Incentive Stock Options under the Code, and shall be subject to and shall be construed consistently with
the requirements of Section 422 of the Code. An Option that is not intended to be an Incentive Stock Option shall be designated a
“Nonstatutory Stock Option.” The Company shall have no liability to a Participant, or any other party, if an Option
(or any part thereof) that is intended to be an Incentive Stock Option does not qualify as an Incentive Stock Option under the Code or
if the Company converts an Incentive Stock Option to a Nonstatutory Stock Option.

 

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(c) Exercise Price.
The Board shall establish the exercise price of each Option or the formula by which such exercise price will be determined. The exercise
price shall be specified in the applicable Option agreement. The exercise price shall be not less than 100% of the Grant Date Fair Market
Value (as defined below) of the Common Stock on the date the Option is granted; provided that if the Board approves the grant of
an Option with an exercise price to be determined on a future date, the exercise price shall be not less than 100% of the Grant Date Fair
Market Value on such future date. “Grant Date Fair Market Value” of a share of Common Stock for purposes of the Plan
will be determined as follows:

 

(1) if the Common Stock
trades on a national securities exchange, the closing sale price (for the primary trading session) on the date of grant; or

 

(2) if the Common Stock
does not trade on any such exchange, the average of the closing bid and asked prices on the date of grant as reported by an over-the-counter
marketplace designated by the Board; or

 

(3) if the Common Stock
is not publicly traded, the Board will determine the Grant Date Fair Market Value for purposes of the Plan using any measure of value
it determines to be appropriate (including, as it considers appropriate, relying on appraisals) in a manner consistent with the valuation
principles under Code Section 409A, except as the Board may expressly determine otherwise.

 

For any date that is not a trading day, the Grant
Date Fair Market Value of a share of Common Stock for such date will be determined by using the closing sale price or average of the bid
and asked prices, as appropriate, for the immediately preceding trading day and with the timing in the formulas above adjusted accordingly.
The Board can substitute a particular time of day or other measure of “closing sale price” or “bid and asked prices”
if appropriate because of exchange or market procedures or can, in its sole discretion, use weighted averages either on a daily basis
or such longer period as complies with Code Section 409A.

 

Notwithstanding the foregoing, in respect of Options
granted effective upon the pricing of the Company’s initial public offering (the “Offering”), the Grant Date
Fair Market Value of a share of Common Stock shall be the per share price at which shares of Common Stock are sold by the underwriters
to the public in the Offering.

 

The Board has sole discretion to determine the
Grant Date Fair Market Value for purposes of the Plan, and all Awards are conditioned on the Participants’ agreement that the Board’s
determination is conclusive and binding even though others might make a different determination.

 

(d) Duration of Options.
Each Option shall be exercisable at such times and subject to such terms and conditions as the Board may specify in the applicable option
agreement; provided, however, that no Option will be granted with a term in excess of 10 years.

 

(e) Exercise of Options.
Options may be exercised by delivery to the Company of a notice of exercise in a form (which may be electronic, and which may be provided
to a third-party equity plan administrator) approved by the Company, together with payment in full (in the manner specified in Section 5(f))
of the exercise price for the number of shares for which the Option is exercised. Shares of Common Stock subject to the Option will be
delivered by the Company (which may be in uncertificated form) as soon as practicable following exercise.

 

(f) Payment Upon Exercise.
Common Stock purchased upon the exercise of an Option granted under the Plan shall be paid for as follows:

 

(1) in cash or by check,
payable to the order of the Company;

 

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(2) except as may otherwise
be provided in the applicable Option agreement or approved by the Board, by (i) delivery of an irrevocable and unconditional undertaking
by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price and any required tax withholding
or (ii) delivery by the Participant to the Company of a copy of irrevocable and unconditional instructions to a creditworthy broker
to deliver promptly to the Company cash or a check sufficient to pay the exercise price and any required tax withholding;

 

(3) to the extent provided
for in the applicable Option agreement or approved by the Board, by delivery (either by actual delivery or attestation) of shares of Common
Stock owned by the Participant valued at their fair market value (valued in the manner determined by (or in a manner approved by) the
Board), provided (i) such method of payment is then permitted under applicable law, (ii) such Common Stock, if acquired directly
from the Company, was owned by the Participant for such minimum period of time, if any, as may be established by the Board and (iii) such
Common Stock is not subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements;

 

(4) to the extent provided
for in the applicable Nonstatutory Stock Option agreement or approved by the Board, by delivery of a notice of “net exercise”
to the Company, as a result of which the Participant would receive (i) the number of shares underlying the portion of the Option
being exercised, less (ii) such number of shares as is equal to (A) the aggregate exercise price for the portion of the Option
being exercised divided by (B) the fair market value of the Common Stock (valued in the manner determined by (or in a manner approved
by) the Board) on the date of exercise;

 

(5) to the extent permitted
by applicable law and provided for in the applicable Option agreement or approved by the Board by payment of such other lawful consideration
as the Board may determine; or

 

(6) by any combination
of the above permitted forms of payment, to the extent approved by the Board.

 

(g) Limitation on Repricing.
Unless such action is approved by the Company’s stockholders, the Company may not (except as provided for under Section 9):
(1) amend any outstanding Option granted under the Plan to provide an exercise price per share that is lower than the then-current exercise
price per share of such outstanding Option, (2) cancel any outstanding option (whether or not granted under the Plan) and grant in
substitution therefor new Awards under the Plan (other than Awards granted pursuant to Section 4(b)) covering the same or a different
number of shares of Common Stock and having an exercise price per share lower than the then-current exercise price per share of the cancelled
option, (3) cancel in exchange for a cash payment any outstanding Option with an exercise price per share above the then-current
fair market value of the Common Stock (valued in the manner determined by (or in the manner approved by) the Board) or (4) take any
other action under the Plan that constitutes a “repricing” within the meaning of the rules of the Nasdaq Stock Market or any
other exchange or marketplace on which the Company stock is listed or traded (the “Exchange”).

 

6. Stock Appreciation Rights

 

(a) General. The Board
may grant Awards consisting of stock appreciation rights (“SARs”) entitling the holder, upon exercise, to receive an
amount of Common Stock or cash or a combination thereof (such form to be determined by the Board) determined by reference to appreciation,
from and after the date of grant, in the fair market value of a share of Common Stock (valued in the manner determined by (or in the manner
approved by) the Board) over the measurement price established pursuant to Section 6(b). The date as of which such appreciation is
determined shall be the exercise date.

 

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(b) Measurement Price.
The Board shall establish the measurement price of each SAR and specify it in the applicable SAR agreement. The measurement price shall
not be less than 100% of the Grant Date Fair Market Value of the Common Stock on the date the SAR is granted; provided that if
the Board approves the grant of an SAR effective as of a future date, the measurement price shall be not less than 100% of the Grant Date
Fair Market Value on such future date.

 

(c) Duration of SARs.
Each SAR shall be exercisable at such times and subject to such terms and conditions as the Board may specify in the applicable SAR agreement;
provided, however, that no SAR will be granted with a term in excess of 10 years.

 

(d) Exercise of SARs.
SARs may be exercised by delivery to the Company of a notice of exercise in a form (which may be electronic) approved by the Company,
together with any other documents required by the Board.

 

(e) Limitation on Repricing.
Unless such action is approved by the Company’s stockholders, the Company may not (except as provided for under Section 9):
(1) amend any outstanding SAR granted under the Plan to provide a measurement price per share that is lower than the then-current measurement
price per share of such outstanding SAR, (2) cancel any outstanding SAR (whether or not granted under the Plan) and grant in substitution
therefor new Awards under the Plan (other than Awards granted pursuant to Section 4(b)) covering the same or a different number of
shares of Common Stock and having an exercise or measurement price per share lower than the then-current measurement price per share of
the cancelled SAR, (3) cancel in exchange for a cash payment any outstanding SAR with a measurement price per share above the then-current
fair market value of the Common Stock (valued in the manner determined by (or in a manner approved by) the Board) or (4) take any
other action under the Plan that constitutes a “repricing” within the meaning of the rules of the Exchange.

 

7. Restricted Stock; Restricted Stock Units

 

(a) General. The Board
may grant Awards entitling recipients to acquire shares of Common Stock (“Restricted Stock”), subject to the right
of the Company to repurchase all or part of such shares at their issue price or other stated or formula price (or to require forfeiture
of such shares if issued at no cost) from the recipient in the event that conditions specified by the Board in the applicable Award are
not satisfied prior to the end of the applicable restriction period or periods established by the Board for such Award. The Board may
also grant Awards entitling the recipient to receive shares of Common Stock or cash to be delivered as soon as practicable after the time
such Award vests or is settled (“Restricted Stock Units”) (Restricted Stock and Restricted Stock Units are each referred
to herein as a “Restricted Stock Award”).

 

(b) Terms and Conditions
for All Restricted Stock Awards. The Board shall determine the terms and conditions of a Restricted Stock Award, including the conditions
for vesting and repurchase (or forfeiture) and the issue price, if any.

 

(c) Additional Provisions
Relating to Restricted Stock.

 

(1) Dividends. Unless
otherwise provided in the applicable Award agreement, any dividends (whether paid in cash, stock or property) declared and paid by the
Company with respect to shares of Restricted Stock (“Accrued Dividends”) shall be paid to the Participant only if and
when such shares become free from the restrictions on transferability and forfeitability that apply to such shares. Each payment of Accrued
Dividends will be made no later than the end of the calendar year in which the dividends are paid to stockholders of that class of stock
or, if later, the 15th day of the third month following the lapsing of the restrictions on transferability and the forfeitability provisions
applicable to the underlying shares of Restricted Stock.

 

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(2) Stock Certificates.
The Company may require that any stock certificates issued in respect of shares of Restricted Stock, as well as dividends or distributions
paid on such Restricted Stock, shall be deposited in escrow by the Participant, together with a stock power endorsed in blank, with the
Company (or its designee). At the expiration of the applicable restriction periods, the Company (or such designee) shall deliver the certificates
no longer subject to such restrictions to the Participant or if the Participant has died, to his or her Designated Beneficiary. “Designated
Beneficiary” means (i) the beneficiary designated, in a manner determined by the Board, by a Participant to receive amounts
due or exercise rights of the Participant in the event of the Participant’s death or (ii) in the absence of an effective designation
by a Participant, the Participant’s estate.

 

(d) Additional Provisions
Relating to Restricted Stock Units.

 

(1) Settlement. As soon
as practicable after the vesting of and/or lapsing of any other restrictions (i.e., settlement) with respect to each Restricted Stock
Unit, the Participant shall be entitled to receive from the Company such number of shares of Common Stock or (if so provided in the applicable
Award agreement) an amount of cash equal to the fair market value (valued in the manner determined by (or in a manner approved by) the
Board) of such number of shares of Common Stock as are set forth in the applicable Restricted Stock Unit agreement. The Board may provide
that settlement of Restricted Stock Units shall be deferred, on a mandatory basis or at the election of the Participant in a manner that
complies with Section 409A of the Code.

 

(2) Voting Rights. A
Participant shall have no voting rights with respect to any Restricted Stock Units.

 

(3) Dividend Equivalents.
The Award agreement for Restricted Stock Units may provide Participants with the right to receive an amount equal to any dividends or
other distributions declared and paid on an equal number of outstanding shares of Common Stock (“Dividend Equivalents”).
Dividend Equivalents may be settled in cash and/or shares of Common Stock, as provided in the Award agreement, and shall be subject to
the same restrictions on transfer and forfeitability as the Restricted Stock Units with respect to which paid.

 

8. Other Stock-Based Awards

 

(a) General. The Board
may grant other Awards of shares of Common Stock, and other Awards that are valued in whole or in part by reference to, or are otherwise
based on, shares of Common Stock or other property (“Other Stock-Based Awards”). Such Other Stock-Based Awards shall
also be available as a form of payment in the settlement of other Awards granted under the Plan or as payment in lieu of compensation
to which a Participant is otherwise entitled. Other Stock-Based Awards may be paid in shares of Common Stock or cash, as the Board shall
determine.

 

(b) Terms and Conditions.
Subject to the provisions of the Plan, the Board shall determine the terms and conditions of each Other Stock-Based Award, including any
purchase price applicable thereto.

 

9. Adjustments for Changes in Common Stock
and Certain Other Events

 

(a) Changes in Capitalization.
In the event of any stock split, reverse stock split, stock dividend, recapitalization, combination of shares, reclassification of shares,
spin-off or other similar change in capitalization or event, or any dividend or distribution to holders of Common Stock other than an
ordinary cash dividend, (i) the number and class of securities available under the Plan, (ii) the share counting rules set forth
in Section 4(a), (iii) the number and class of securities and exercise price per share of each outstanding Option, (iv) the
share and per-share provisions and the measurement price of each outstanding SAR, (v) the number of shares subject to and the repurchase
price per share subject to each outstanding award of Restricted Stock and (vi) the share and per-share-related provisions and the
purchase price, if any, of each outstanding Restricted Stock Unit award and each outstanding Other Stock-Based Award, shall be equitably
adjusted by the Company (or substituted Awards may be made, if applicable) in the manner determined by the Board. Without limiting the
generality of the foregoing, in the event the Company effects a split of the Common Stock by means of a stock dividend and the exercise
price of and the number of shares subject to an outstanding Option are adjusted as of the date of the distribution of the dividend (rather
than as of the record date for such dividend), then an optionee who exercises an Option between the record date and the distribution date
for such stock dividend shall be entitled to receive, on the distribution date, the stock dividend with respect to the shares of Common
Stock acquired upon such Option exercise, notwithstanding the fact that such shares were not outstanding as of the close of business on
the record date for such stock dividend.

 

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(b) Reorganization Events.

 

(1) Definition. A “Reorganization
Event” shall mean: (a) any merger or consolidation of the Company with or into another entity as a result of which all
of the Common Stock of the Company is converted into or exchanged for the right to receive cash, securities or other property or is cancelled,
(b) any transfer or disposition of all of the Common Stock of the Company for cash, securities or other property pursuant to a share
exchange or other transaction or (c) any liquidation or dissolution of the Company.

 

(2) Consequences of
a Reorganization Event on Awards Other than Restricted Stock.

 

(A) In connection with
a Reorganization Event, the Board may take any one or more of the following actions as to all or any (or any portion of) outstanding Awards
other than Restricted Stock on such terms as the Board determines (except to the extent specifically provided otherwise in an applicable
Award agreement or another agreement between the Company and the Participant): (i) provide that such Awards shall be assumed, or
substantially equivalent Awards shall be substituted, by the acquiring or succeeding corporation (or an affiliate thereof), (ii) upon
written notice to a Participant, provide that all of the Participant’s unvested Awards will be forfeited immediately prior to the
consummation of such Reorganization Event and/or unexercised Awards will terminate immediately prior to the consummation of such Reorganization
Event unless exercised by the Participant (to the extent then exercisable) within a specified period following the date of such notice,
(iii) provide that outstanding Awards shall become exercisable, realizable or deliverable, or restrictions applicable to an Award
shall lapse, in whole or in part prior to or upon such Reorganization Event, (iv) in the event of a Reorganization Event under the
terms of which holders of Common Stock will receive upon consummation thereof a cash payment for each share surrendered in the Reorganization
Event (the “Acquisition Price”), make or provide for a cash payment to Participants with respect to each Award held
by a Participant equal to (A) the number of shares of Common Stock subject to the vested portion of the Award (after giving effect
to any acceleration of vesting that occurs upon or immediately prior to such Reorganization Event) multiplied by (B) the excess,
if any, of (I) the Acquisition Price over (II) the exercise, measurement or purchase price of such Award and any applicable
tax withholdings, in exchange for the termination of such Award, (v) provide that, in connection with a liquidation or dissolution
of the Company, Awards shall convert into the right to receive liquidation proceeds (if applicable, net of the exercise, measurement or
purchase price thereof and any applicable tax withholdings) and (vi) any combination of the foregoing. In taking any of the actions
permitted under this Section 9(b)(2), the Board shall not be obligated by the Plan to treat all Awards, all Awards held by a Participant,
or all Awards of the same type, identically.

 

(B) Notwithstanding
the terms of Section 9(b)(2)(A), in the case of outstanding Restricted Stock Units that are subject to Section 409A of the Code:
(i) if the applicable Restricted Stock Unit agreement provides that the Restricted Stock Units shall be settled upon a “change
in control event” within the meaning of Treasury Regulation Section 1.409A-3(i)(5)(i), and the Reorganization Event constitutes
such a “change in control event”, then no assumption or substitution shall be permitted pursuant to Section 9(b)(2)(A)(i)
and the Restricted Stock Units shall instead be settled in accordance with the terms of the applicable Restricted Stock Unit agreement;
and (ii) the Board may only undertake the actions set forth in clauses (iii), (iv) or (v) of Section 9(b)(2)(A) if the
Reorganization Event constitutes a “change in control event” as defined under Treasury Regulation Section 1.409A-3(i)(5)(i)
and such action is permitted or required by Section 409A of the Code; if the Reorganization Event is not a “change in control
event” as so defined or such action is not permitted or required by Section 409A of the Code, and the acquiring or succeeding
corporation does not assume or substitute the Restricted Stock Units pursuant to clause (i) of Section 9(b)(2)(A), then the
unvested Restricted Stock Units shall terminate immediately prior to the consummation of the Reorganization Event without any payment
in exchange therefor.

 

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(C) For purposes of
Section 9(b)(2)(A)(i), an Award (other than Restricted Stock) shall be considered assumed if, following consummation of the Reorganization
Event, such Award confers the right to purchase or receive pursuant to the terms of such Award, for each share of Common Stock subject
to the Award immediately prior to the consummation of the Reorganization Event, the consideration (whether cash, securities or other property)
received as a result of the Reorganization Event by holders of Common Stock for each share of Common Stock held immediately prior to the
consummation of the Reorganization Event (and if holders were offered a choice of consideration, the type of consideration chosen by the
holders of a majority of the outstanding shares of Common Stock); provided, however, that if the consideration received as a result
of the Reorganization Event is not solely common stock of the acquiring or succeeding corporation (or an affiliate thereof), the Company
may, with the consent of the acquiring or succeeding corporation, provide for the consideration to be received upon the exercise or settlement
of the Award to consist solely of such number of shares of common stock of the acquiring or succeeding corporation (or an affiliate thereof)
that the Board determines to be equivalent in value (as of the date of such determination or another date specified by the Board) to the
per share consideration received by holders of outstanding shares of Common Stock as a result of the Reorganization Event.

 

(3) Consequences of
a Reorganization Event on Restricted Stock. Upon the occurrence of a Reorganization Event other than a liquidation or dissolution of the
Company, the repurchase and other rights of the Company with respect to outstanding Restricted Stock shall inure to the benefit of the
Company’s successor and shall, unless the Board determines otherwise, apply to the cash, securities or other property which the
Common Stock was converted into or exchanged for pursuant to such Reorganization Event in the same manner and to the same extent as they
applied to such Restricted Stock; provided, however, that the Board may provide for termination or deemed satisfaction of such
repurchase or other rights u nder the instrument evidencing any Restricted Stock or any other agreement between a Participant and the
Company, either initially or by amendment. Upon the occurrence of a Reorganization Event involving the liquidation or dissolution of the
Company, except to the extent specifically provided to the contrary in the instrument evidencing any Restricted Stock or any other agreement
between a Participant and the Company, all restrictions and conditions on all Restricted Stock then outstanding shall automatically be
deemed terminated or satisfied.

 

10. General Provisions Applicable to Awards

 

(a) Transferability
of Awards. Awards shall not be sold, assigned, transferred, pledged or otherwise encumbered by the Participant, either voluntarily or
by operation of law, except by will or the laws of descent and distribution or, other than in the case of an Incentive Stock Option, pursuant
to a qualified domestic relations order, and, during the life of the Participant, shall be exercisable only by the Participant; provided,
however, that, except with respect to Awards subject to Section 409A of the Code, the Board may permit or provide in an Award
for the gratuitous transfer of the Award by the Participant to or for the benefit of any immediate family member, family trust or other
entity established for the benefit of the Participant and/or an immediate family member thereof if the Company would be eligible to use
a Form S-8 under the Securities Act for the registration of the sale of the Common Stock subject to such Award to such proposed transferee;
provided further, that the Company shall not be required to recognize any such permitted transfer until such time as such permitted
transferee shall, as a condition to such transfer, deliver to the Company a written instrument in form and substance satisfactory to the
Company confirming that such transferee shall be bound by all of the terms and conditions of the Award. References to a Participant, to
the extent relevant in the context, shall include references to authorized transferees. For the avoidance of doubt, nothing contained
in this Section 10(a) shall be deemed to restrict a transfer to the Company.

 

    9

     

    

 

(b) Documentation. Each
Award shall be evidenced in such form (written, electronic or otherwise) as the Board shall determine. Each Award may contain terms and
conditions in addition to those set forth in the Plan.

 

(c) Board Discretion.
Except as otherwise provided by the Plan, each Award may be made alone or in addition or in relation to any other Award. The terms of
each Award need not be identical, and the Board need not treat Participants uniformly.

 

(d) Termination of Status.
The Board shall determine the effect on an Award of the disability, death, termination or other cessation of employment, authorized leave
of absence or other change in the employment or other status of a Participant and the extent to which, and the period during which, the
Participant, or the Participant’s legal representative, conservator, guardian or Designated Beneficiary, may exercise rights under
the Award.

 

(e) Withholding. The
Participant must satisfy all applicable federal, state, and local or other income and employment tax withholding obligations before the
Company will deliver stock certificates or otherwise recognize ownership of Common Stock under an Award. The Company may elect to satisfy
the withholding obligations through additional withholding on salary or wages. If the Company elects not to or cannot withhold from other
compensation, the Participant must pay the Company the full amount, if any, required for withholding or have a broker tender to the Company
cash equal to the withholding obligations. Payment of withholding obligations is due before the Company will issue any shares on exercise,
vesting or release from forfeiture of an Award or at the same time as payment of the exercise or purchase price, unless the Company determines
otherwise. If provided for in an Award or approved by the Board, a Participant may satisfy the tax obligations in whole or in part by
delivery (either by actual delivery or attestation) of shares of Common Stock, including shares retained from the Award creating the tax
obligation, valued at their fair market value (valued in the manner determined by (or in a manner approved by) the Company); provided,
however, except as otherwise provided by the Board, that the total tax withholding where stock is being used to satisfy such tax
obligations cannot exceed the Company’s minimum statutory withholding obligations (based on minimum statutory withholding rates
for federal, state and local tax purposes, including payroll taxes, that are applicable to such supplemental taxable income), except that,
to the extent that the Company is able to retain shares of Common Stock having a fair market value (determined by, or in a manner approved
by, the Company) that exceeds the statutory minimum applicable withholding tax without financial accounting implications or the Company
is withholding in a jurisdiction that does not have a statutory minimum withholding tax, the Company may retain such number of shares
of Common Stock (up to the number of shares having a fair market value equal to the maximum individual statutory rate of tax (determined
by, or in a manner approved by, the Company)) as the Company shall determine in its sole discretion to satisfy the tax liability associated
with any Award. Shares used to satisfy tax withholding requirements cannot be subject to any repurchase, forfeiture, unfulfilled vesting
or other similar requirements.

 

(f) Amendment of Award.
Except as otherwise provided in Sections 5(g) and 6(e) with respect to repricings and Section 11(d) with respect to actions requiring
stockholder approval, the Board may amend, modify or terminate any outstanding Award, including but not limited to, substituting therefor
another Award of the same or a different type, changing the date of exercise or realization, and converting an Incentive Stock Option
to a Nonstatutory Stock Option. The Participant’s consent to such action shall be required unless (i) the Board determines
that the action, taking into account any related action, does not materially and adversely affect the Participant’s rights under
the Plan or (ii) the change is permitted under Section 9.

 

    10

     

    

 

(g) Conditions on Delivery
of Stock. The Company will not be obligated to deliver any shares of Common Stock pursuant to the Plan or to remove restrictions from
shares previously issued or delivered under the Plan until (i) all conditions of the Award have been met or removed to the satisfaction
of the Company, (ii) in the opinion of the Company’s counsel, all other legal matters in connection with the issuance and delivery
of such shares have been satisfied, including any applicable securities laws and regulations and any applicable stock exchange or stock
market rules and regulations and (iii) the Participant has executed and delivered to the Company such representations or agreements
as the Company may consider appropriate to satisfy the requirements of any applicable laws, rules or regulations.

 

(h) Acceleration. The
Board may at any time provide that any Award shall become immediately exercisable in whole or in part, free from some or all restrictions
or conditions, or otherwise realizable in whole or in part, as the case may be.

 

11. Miscellaneous

 

(a) No Right to Employment
or Other Status. No person shall have any claim or right to be granted an Award by virtue of the adoption of the Plan, and the grant of
an Award shall not be construed as giving a Participant the right to continued employment or any other relationship with the Company.
The Company expressly reserves the right at any time to dismiss or otherwise terminate its relationship with a Participant free from any
liability or claim under the Plan, except as expressly provided in the applicable Award.

 

(b) No Rights as Stockholder;
Clawback Policy. Subject to the provisions of the applicable Award, no Participant or Designated Beneficiary shall have any rights as
a stockholder with respect to any shares of Common Stock to be issued with respect to an Award until becoming the record holder of such
shares. In accepting an Award under the Plan, a Participant agrees to be bound by any clawback policy the Company has in effect or may
adopt in the future.

 

(c) Effective Date and
Term of Plan. The Plan shall become effective immediately prior to the effectiveness of the Company’s registration statement for
the Company’s initial public offering (the “Effective Date”). No Awards shall be granted under the Plan after
the expiration of 10 years from the Effective Date, but Awards previously granted may extend beyond that date.

 

(d) Amendment of Plan.
The Board may amend, suspend or terminate the Plan or any portion thereof at any time provided that no amendment that would require stockholder
approval under the rules of the Exchange may be made effective unless and until the Company’s stockholders approve such amendment.
In addition, if at any time the approval of the Company’s stockholders is required as to any other modification or amendment under
Section 422 of the Code or any successor provision with respect to Incentive Stock Options, the Board may not effect such modification
or amendment without such approval. Unless otherwise specified in the amendment, any amendment to the Plan adopted in accordance with
this Section 11(d) shall apply to, and be binding on the holders of, all Awards outstanding under the Plan at the time the amendment
is adopted, provided the Board determines that such amendment, taking into account any related action, does not materially and adversely
affect the rights of Participants under the Plan. No Award shall be made that is conditioned upon stockholder approval of any amendment
to the Plan unless the Award provides that (i) it will terminate or be forfeited if stockholder approval of such amendment is not
obtained within no more than 12 months from the date of grant and (ii) it may not be exercised or settled (or otherwise result in
the issuance of Common Stock) prior to such stockholder approval.

 

    11

     

    

 

(e) Authorization of
Sub-Plans (including for Grants to non-U.S. Employees). The Board may from time to time establish one or more sub-plans under the Plan
for purposes of satisfying applicable securities, tax or other laws of various jurisdictions. The Board shall establish such sub-plans
by adopting supplements to the Plan containing (i) such limitations on the Board’s discretion under the Plan as the Board deems
necessary or desirable or (ii) such additional terms and conditions not otherwise inconsistent with the Plan as the Board shall deem
necessary or desirable. All supplements adopted by the Board shall be deemed to be part of the Plan, but each supplement shall apply only
to Participants within the affected jurisdiction and the Company shall not be required to provide copies of any supplement to Participants
in any jurisdiction which is not the subject of such supplement.

 

(f) Compliance with
Section 409A of the Code. If and to the extent (i) any portion of any payment, compensation or other benefit provided to a Participant
pursuant to the Plan in connection with his or her employment termination constitutes “nonqualified deferred compensation”
within the meaning of Section 409A of the Code and (ii) the Participant is a specified employee as defined in Section 409A(a)(2)(B)(i)
of the Code, in each case as determined by the Company in accordance with its procedures, by which determinations the Participant (through
accepting the Award) agrees that he or she is bound, such portion of the payment, compensation or other benefit shall not be paid before
the day that is six months plus one day after the date of “separation from service” (as determined under Section 409A
of the Code) (the “New Payment Date”), except as Section 409A of the Code may then permit. The aggregate of any
payments that otherwise would have been paid to the Participant during the period between the date of separation from service and the
New Payment Date shall be paid to the Participant in a lump sum on such New Payment Date, and any remaining payments will be paid on their
original schedule.

 

The Company makes no representations or warranty
and shall have no liability to the Participant or any other person if any provisions of or payments, compensation or other benefits under
the Plan are determined to constitute nonqualified deferred compensation subject to Section 409A of the Code but do not to satisfy
the conditions of that section.

 

(g) Limitations on Liability.
Notwithstanding any other provisions of the Plan, no individual acting as a director, officer, employee or agent of the Company will be
liable to any Participant, former Participant, spouse, beneficiary, or any other person for any claim, loss, liability, or expense incurred
in connection with the Plan, nor will such individual be personally liable with respect to the Plan because of any contract or other instrument
he or she executes in his or her capacity as a director, officer, employee or agent of the Company. The Company will indemnify and hold
harmless each director, officer, employee or agent of the Company to whom any duty or power relating to the administration or interpretation
of the Plan has been or will be delegated, against any cost or expense (including attorneys’ fees) or liability (including any sum
paid in settlement of a claim with the Board’s approval) arising out of any act or omission to act concerning the Plan unless arising
out of such person’s own fraud or bad faith.

 

(h) Governing Law.
The provisions of the Plan and all Awards made hereunder shall be governed by and interpreted in accordance with the laws of the State
of Delaware, excluding choice-of-law principles of the law of such state that would require the application of the laws of a jurisdiction
other than the State of Delaware. 

 

    12Exhibit
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Form of Employee Restrictive Covenant Agreement

 

D. RESTRICTIVE COVENANT AGREEMENT

 

This Restrictive Covenant Agreement (this “Agreement”)
is entered into by and between ev Transportation Services, Inc. (“Employer”), and xxxxxxxxxx (“Employee”) on the
last date set forth below.

 

In consideration of the mutual promises and covenants
in this Agreement and other good and valuable consideration, including, but not limited to, the employment or continued employment of
Employee, the parties hereby agree as follows:

 

I. Employer’s Protectable Interest.
Employee recognizes that Employer is engaged in a highly competitive business. Employee acknowledges that during employment by Employer,
Employee may or will be privy to, have access to or acquire “Confidential Information” (as defined in the following paragraph)
of Employer. Employee acknowledges that each and every component of the Confidential Information constitutes a protectable business interest
and trade secret of Employer, has been developed by Employer and/or its customers and suppliers at significant effort and expense, and
is sufficiently secret to derive economic value from not being generally known to other persons, and that maintaining the confidentiality
of the Employer’s Confidential Information is critical to Employer’s ability to maintain its position in the market.

 

II. Reasonable and Voluntary: Employee
acknowledges that Employer has customers, provides services and operates in multiple states across the United States and globally. By
accepting a position with Employer or continuing employment, Employee understands and agrees that the restrictions set forth in this Agreement
are necessary and tailored to meet Employer’s legitimate business interests, that the restrictions are fair and reasonable in all
respects, and that Employee’s employment and/or continuing employment with Employer is sufficient consideration for the obligations
under this Agreement. Employee agrees that Employer has and will invest valuable time and resources to develop, train, and educate Employee
and to build Employee’s relationships with its customers and that the restrictions contained in this Agreement are necessary to
protect those investments and prevent unfair competitive advantage. Employee has contemplated the effect that these restrictions may have
upon his/her termination from Employer and that it will be necessary to structure Employee’s future employment, activities and operations
so as to prevent a violation of this Agreement.

 

III. Confidential Information Employer
and Employee agree that “Confidential Information” constitutes information not otherwise publicly available and shall include,
but not be limited to all of Employer’s:

 

(a) trade
secrets and proprietary information, past, current and planned research and development, test data, procedures, methods, formulation techniques,
process formulas, tools, machinery, equipment, technical or business innovations, plans, property, drawings or pictures, catalogues, historical,
current and planned manufacturing methods and processes, data bases and all form of computer hardware and software, computer programs
and information stored in those programs, internet and website passwords, trade secrets and know-how embodied in writings, drawings, models,
financial projections and budgets, tax returns and accountants’ materials, historical, current and projected sales, capital spending
budgets and plans, and contracts;

 

(b) “Innovations”
which means all processes, machines, manufactures, compositions of matter, improvements, inventions (whether or not protectable under
patent laws), works of authorship (including, but not limited to, software source code), information fixed in any tangible medium of expression
(whether or not protectable under copyright laws), moral rights, mask works, trademarks, trade names, trade dress, trade secrets, know-how,
ideas (whether or not protectable under trade secret laws) and all other subject matter protectable under patent, copyright, moral right,
mask work, trademark, trade secret or other laws and includes without limitation all new or useful art, combinations, discoveries, formulae,
manufacturing techniques, technical or engineering developments, discoveries, artwork, software, coding and designs;

 

     

     

    

 

		
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(c) price
lists, market studies, marketing, sales and advertising techniques, training, education, certification or licensing, computer database
technologies, systems, coding, programs, structures and architectures, historical and current financial statements, financial projections
and budgets, tax returns and accountants’ materials, historical, current and projected sales, capital spending budgets and plans,
contracts, general policies with regard to mark-up and discounts on products and services sold by Employer, specific mark-ups and discounts
given to specific customers, past and planned bids for supplying products and services and strategies regarding its bids and sales, management
process, hiring decisions and plans for expansion of its business, including possible acquisitions or purchases.

 

(d) customers,
including, but not limited to, all information concerning the business or affairs of customers, customer lists, contact information and
customers’ data, requirements, pricing, communications, contracts, lists of prospective customers, information relating to the existing
and future needs of Employer’s existing and prospective customers, policies and methods of handling and servicing its clients

 

(e) suppliers,
vendors and/or other third parties with which Employer does business, including, but not limited to, lists, contact information, pricing
methods, manufacturers actual prices for products sold by Employer and contracts, current and proposed marketing strategies and plans;

 

(f) information
not available to competitors of Employer, the use or disclosure of which might reasonably be construed to be contrary to the interests
of Employer or give other persons or entities to whom such information is disclosed a competitive advantage over Employer;

 

(g) operational
and/or administrative rules, policies, procedures, books, records, financial and accounting statements, employment information, records
and personnel files, and other information regarding the operation and administration of Employer; and

 

(h) notes,
analyses, compilations, studies, summaries and other material prepared by the Employee to the extent containing or based, in whole or
in part, upon any information included in the foregoing to which Employee may have access.

 

In the event Employee has any question or doubt
as to whether any information or document is Confidential Information, Employee agrees to request a determination in writing from the
CEO of Employer as to whether the information or document is confidential. The Employee agrees not to disclose any information or document
while awaiting a determination as to whether the information or document is confidential.

 

IV. Nondisclosure of Confidential Information
Employee shall, during the course of Employee’s employment, and at all times thereafter, hold and maintain the Confidential
Information in the strictest confidence and not, directly or indirectly, intentionally or unintentionally, reveal, report, publish, disclose,
upload, disseminate, divulge, discuss, modify, use or transfer, at any time, any Confidential Information which Employee has acquired
or become privy to in the course of employment with Employer, except in the proper performance of Employee’s employment responsibilities.
Employee also agrees to comply with all customer requirements for maintaining the confidentiality of customers’ confidential information.

 

V. Return of Confidential Information.
Upon termination of their employment with Employer, for any reason, Employee shall promptly return to Employer all Confidential Information,
whether in paper, electronic or any other format.

 

VI. Disclosure to Prospective Employers.
Employee consents and agrees that following the termination of Employee’s employment, whether voluntary or involuntary, and if Employer
is made aware of a breach of this non-disclosure agreement, Employer may contact any of Employee’s subsequent or prospective employers
to advise the subsequent or prospective employer of Employee’s continuing obligations under this Agreement.

 

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VII. Reporting Violations. Employee
agrees that if Employee becomes aware of any violation of this agreement by any other person or entity, Employee will immediately report
any such violation to the CEO of Employer.

 

VIII. Federal Statute Protection.
Employee 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 in confidence to a Federal, State, or local government official or to an attorney solely for the purpose of reporting or
investigating a suspected violation of law. In addition, Employee 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 in a complaint or other document filed in a lawsuit or other
proceeding, if such filing is made under seal. If Employee files a lawsuit for retaliation by Employer for reporting a suspected violation
of law, Employee may disclose the trade secret to his/her attorney and use the trade secret information in the court proceeding, if Employee
files any document containing the trade secret under seal and does not disclose the trade secret, except pursuant to court order. Nothing
in this Agreement is intended to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of trade secrets that are
expressly allowed by 18 U.S.C. § 1833(b).

 

IX. Inventions. Employee agrees that
any and all inventions, discoveries, developments, improvements and innovations (collectively referred to as “Inventions”)
created, made and/or conceived by Employee, or by the Employer, as a direct result of their employment with Employer, whether or not patentable,
copyrightable, registrable as a trademark, or reduced to writing, shall be the sole and exclusive property of Employer. All Employee work
product (including without limitation, all writings, documents, data and computer programs) developed by Employee during their term of
employment, and/or by Employer in connection with the Invention(s) (collectively referred to as “Work Product”) shall be deemed
“work for hire” as defined in the applicable copyright laws and shall also be and remain the sole and exclusive property of
Employer. Employee shall promptly disclose all Inventions to the Company, and hereby transfers and assigns all right, title and interest
in the Invention(s), and the Work Product (whether determined to be work for hire or not) and all derivative works in all media now known
or hereafter developed (including without limitation, copyrights, moral rights, trademarks, service marks, patents, know how, and any
renewal rights therein) to Employer. Employee further agrees to prepare and/or execute any and all necessary documentation (including
but not limited to powers of attorney, affidavits, patent applications and copyright registrations) and to take any further action, even
after the termination of their employment, to register (and/or maintain or enforce) any applicable proprietary rights in the name of Employer
and to assign any such proprietary rights to Employer. Employee hereby appoints Employer as Employee’s attorney-in-fact to execute
on Employee’s behalf any assignments or other documents reasonably deemed necessary by the Company to protect or perfect its rights
to any Inventions. Employee further agrees that he or she will never make any use, of any nature whatsoever, of the Inventions, Work Product,
derivative works or any other Employer intellectual property. The decision whether to commercialize or market any Inventions is within
the Employer’s sole discretion and for the Employer’s sole benefit, and no royalty or other consideration will be due Employee
as a result of the Employer’s efforts to commercialize or market such Inventions. If in the course of Employee’s employment
with the Employer, Employee incorporates into any Employer product, process or machine a prior Invention owned by Employee or in which
Employee has an interest, Employer is hereby granted and shall have a nonexclusive, royalty-free, irrevocable, perpetual, sublicensable,
worldwide license to make, have made, modify, use, market, sell and distribute such prior Invention as part of or in connection with such
product, process or machine.

 

X. Non-Competition Obligations. To
further protect the legitimate business interests of the Employer, including the Employer’s protected interests in Confidential
Information, Employee expressly covenants and agrees that during Employee’s term of employment with Employer, Employee shall not
directly or indirectly, on Employee’s behalf (in any capacity), or on behalf of any other person or business compete or attempt
to compete against Employer’s business or otherwise work for or provide services, which are the same as or similar to the services
Employee performed for Employer, to or for any entity which is in direct competition with Employer within the United States, unless approved
in writing by Employer. If Employee wishes to work for an entity which is in direct competition with Employer, Employer has the right
to compensate Employee for up to a period of six (6) months in lieu of Employee accepting such employment.

 

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XI. Customer and Employee Non-Solicitation.
To further protect the Employer’s legitimate business interests, Employee will not during the term of employment hereunder:

 

(a)  provide,
attempt to provide or assist others in providing any services to any of Employer’s customers with whom Employer had a relationship
at any time during Employee’s employment with Employer without written consent from Employer

 

(b) attempt
to or persuade, induce, interfere with, cause or provide assistance to others that results in any of Employer’s customers with whom
Employer had a relationship at any time during Employee’s employment with Employer to end their relationship with, cease doing business
with or otherwise cease receiving any services from Employer; and

 

(c) directly
or indirectly offer employment to or enter into a Employee relationship with any person who is or was an Employee of
Employer or induce or attempt to induce any Employee of Employer to leave his or her employment or relationship with Employer for any
reason.

 

XII. Extension of Covenants. In the
event of the violation by Employee of any one or more of the covenants contained in the above paragraphs regarding Non-Competition Obligations,
Customer and Employee Non-Solicitation, it is agreed that the terms of each such covenant so violated shall be automatically extended
for a period of six (6) months from the date on which Employee permanently ceases such violation or for a period of six (6) months from
the date of entry by a court of competent jurisdiction of a final order or judgment enforcing such covenants(s), whichever period is later.

 

XIII. Return of Employer Property.
Employee agrees that all property belonging to Employer will be immediately returned to Employer upon termination of Employee’s
employment for any reason, including but not limited to, keys, locks, passwords, pass codes, personal identification numbers, hardware,
software, letters, handbooks, manuals, credit cards, originals and all copies of all documents, books, binders, records, materials, memoranda
and other data constituting or pertaining to Confidential Information, in any form, within Employee’s possession, custody or control,
including all copies of documents sent by electronic mail or otherwise to any personal computer owned or other devise owned or accessed
by Employee.

 

XIV. Injunctive Relief. Employee acknowledges
that full compliance with the provisions of this Agreement is necessary to protect the business and goodwill of Employer and that any
breach or of these restrictions on the part of Employee will result in irreparable and continuing damage to Employer
for which money damages may not provide adequate relief. Therefore, in the event of any breach of this Agreement, and in addition to any
and all other legal and equitable remedies which may be available, Employer shall be entitled, if it so elects and to the extent permissible
under applicable law, to seek preliminary and/or permanent injunctive relief. Employee agrees that such injunctive relief shall not waive
or otherwise affect any claims for damages incurred by Employer in connection with such violations or threatened violations. In the event
of a breach or of this Agreement, Employee shall forfeit any entitlement to any bonus payments which may be owed to Employee by Employer.

 

XV. Non-Disparagement. Employee agrees
that during and after Employee’s term of employment with Employer, Employee will not take any actions which would be disruptive
of Employer’s workplace. Employee agrees not to disparage Employer to anyone at any time. Employee agrees that Employee will not
make, issue, or release any statement or remark derogatory, defamatory or disparaging of Employer and will not influence or attempt to
influence anyone else to do so. This includes, without limitation remarks to the public, to Employer’s customers, and to Employer’s
suppliers, and includes verbal remarks and written remarks, including, without limitation, postings on websites, bulletin board, and e-mails.

 

XVI. Miscellaneous 

 

(a) Interpretation
of Agreement and Severability. If any portion or portions of this Agreement shall be found, for any reason, to be invalid or unenforceable,
the remaining portions shall nevertheless be valid, enforceable and carried into effect. All periods of time and geographical limitations
contained in this Agreement shall be construed by any court of competent jurisdiction to render these restrictions enforceable to the
greatest extent permissible. If any court determines that any of the covenants contained in this Agreement, or any part of any covenant,
is unenforceable because of its duration or geographic scope, such court shall have the power to reduce the duration or scope, as the
case may be, and, enforce such provision in such reduced form.

 

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(b) At-Will
Employee. Employee acknowledges and agrees that he or she is contracted in an at-will capacity and that nothing in this Agreement
modifies or alters the fact that Employee is contracted at-will and is subject to termination at any time, with or without cause or notice.

 

(c) Waiver
of Breach. Any failure by Employer to enforce any provision of this Agreement shall not operate as, or be construed as, a waiver by
Employer of its right to enforce this Agreement in the event of a later subsequent breach by Employee of any provision in this Agreement.

 

(d) Attorney’s
Fees and Costs. In any action to enforce this Agreement, the prevailing party shall be entitled to their attorney’s fees and
costs, including fees and costs on appeal.

 

(e) Waiver
of Jury Trial. The parties expressly waive any right they may have to a jury trial in the event of any litigation arising out of this
agreement and Employee’s employment with Employer.

 

(f) Assignment.
This Agreement is personal to Employee and Employee may not assign his other interest in or delegate his or her duties under this
Agreement. The Company may assign its rights and obligations under this Agreement in whole or in part to any one or more affiliates, related
entities, successors, purchasers or assigns. The obligations of Employee shall inure to the benefit of the Company’s successors
and assigns.

 

(g) Survivability.
The restrictive covenant provisions contained in this Agreement shall survive the termination of Employee’s employment with
Employer.

 

(h) Consultation
with Counsel. Employee acknowledges that he or she has had the opportunity to consult with his or her own professional advisors, attorneys
and accountants regarding the terms and conditions of this Agreement.

 

(i) Entire
Agreement; Modification. This Agreement constitutes the entire agreement of the parties with respect to its subject matter of confidentiality
and non-solicitation and supersedes all prior and contemporaneous agreements, express or implied, oral or written, except as contained
in it. This Agreement may not be amended except in writing signed by both parties. Notwithstanding the foregoing, nothing in this Agreement
will limit the generally applicable policy, practice, plan or the terms of any manual or handbook applicable to Employer’s Employees
generally.

 

(j) Choice
of Law, Venue and Jurisdiction. This Agreement was executed and delivered in the Commonwealth of Massachusetts and shall be construed
and enforced in accordance with the laws of Massachusetts. In the event of any litigation relating to this Agreement, the parties agree
that the exclusive venue and jurisdiction shall be the circuit courts of Middlesex County, Massachusetts.

 

(k) Signing
in Counterpart. This Agreement may be signed in counterpart, with signature pages copied and/or faxed to the other party. Upon signing
by all Parties, this Agreement shall constitute one complete agreement.

 

(l) Captions.
Captions to paragraphs and sections of this Agreement have been included solely for the sake of convenient reference and are entirely
without substantive effect.

 

[Signature Page Follows]

 

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[Signature
Page to Restrictive Covenant Agreement]

 

Signed this _____ day of ________________, ______________.

 

	Employee:	Employer:
	 	 	 
	 	ev Transportation Services, Inc.
	 	 	 
	 	By:	                 
	xxxxxxxx	Name:	 

 

    6

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