Document:

EX-10.18

 Exhibit 10.18 

AMENDED AND RESTATED BOARD OF DIRECTORS AGREEMENT 

THIS AGREEMENT is made and entered into effective as of the date set for the below, by and between Hyzon Motors Inc.,
a Delaware corporation (the “Company”) with its principal place of business located at 475 Quaker Meeting House Road, Honeoye Falls, NY 14472,
and                 , an individual (“Director”) with his/her principal residence on file with the Company. 

 

	 	1.	 Term 

Subject to the termination provisions set forth in Section 4, this Agreement shall continue until the Company’s
                annual meeting of stockholders (the “Initial Term”), and should Director be re-elected by the
Company’s stockholders, shall remain in effect for as long as Director is elected and serving as a member of the Board of Directors (the “Board”) by the shareholders of the Company (“Extended Term”). 

 

	 	2.	 Position and Responsibilities 

(a) Position.     Effective as of July 16, 2021, the Board hereby appoints the Director to serve as a Board
member until the expiration of the Initial Term or until his/her earlier resignation, removal or death. Director shall perform such duties and responsibilities as are customarily related to such position in accordance with Company’s bylaws and
applicable law, including, but not limited to, those services described on Exhibit A attached hereto (the “Services”). Director hereby agrees to use his/her best efforts to provide the Services. Director shall not allow
any other person or entity to perform any of the Services for or instead of Director. Director shall comply with the statutes, rules, regulations and orders of any governmental or quasi-governmental authority that are applicable to the Company and
the performance of the Services, Company’s rules, regulations, and practices as they may from time-to-time be adopted or modified. 

(b) Other Activities.     Director may be employed by another company, may serve on other boards of directors or
advisory boards, and may engage in any other business activity (whether or not pursued for pecuniary advantage), as long as such outside activities do not violate Director’s obligations under this Agreement or Director’s fiduciary
obligations to the Company’s shareholders. The ownership of less than a 5% interest in an entity, by itself, shall not constitute a violation of this duty. Director represents that Director has no outstanding agreement or obligation that is in
conflict with any of the provisions of this Agreement, and Director agrees to use his/her best efforts to avoid or minimize any such conflict and agrees not to enter into any agreement or obligation that could create such a conflict without the
approval of a majority of the Board of Directors. If, at any time, Director is required to make any disclosure or take any action that may conflict with any of the provisions of this Agreement, Director will promptly notify the Board of such
obligation, prior to making such disclosure or taking such action. 
 (c) No Conflict.     Director will not
engage in any activity that creates an actual or perceived conflict of interest with Company, regardless of whether such activity is prohibited by 

  
 1 

 
Company’s conflict of interest guidelines or this Agreement, and Director agrees to notify the Board before engaging in any activity that could reasonably be assumed to create a potential
conflict of interest with Company. Notwithstanding the provisions of Section 2(b) hereof, Director shall not engage in any activity that is in direct competition with the Company or serve in any capacity (including, but not limited to, as an
employee, consultant, advisor or director) in any company or entity that competes directly or indirectly with the Company, as reasonably determined by a majority of Company’s disinterested board members, without the approval of the Board. 

 

	 	3.	 Compensation and Benefits 

(a)    Director’s Fee.    In consideration of the services to be rendered under this
Agreement, Company shall pay Director an annual fee as provided in Exhibit B. 
 (b) Stock and Stock Options. Subject to
actual grant by the Compensation Committee of the Board of Directors, Director will be granted stock options and Restricted Stock Units (“RSUs”) as set forth and described on Exhibit B in accordance with the Company’s 2021
Equity Incentive Plan (the “Plan”). The provisions of Exhibit B are incorporated into and made a part of this Agreement. 
 (c)
Expenses. The Company shall reimburse Director for all reasonable business expenses incurred in the performance of the Services in accordance with Company’s expense reimbursement guidelines. 

(d) Indemnification. Company will indemnify and defend Director against any liability incurred in the performance of the Services
to the fullest extent authorized in Company’s Articles of Incorporation, as amended, bylaws, as amended, and applicable law. Company will purchase Director’s and Officer’s liability insurance when such policy is purchased by the
Company, and Director shall be entitled to the protection of any insurance policies the Company maintains for the benefit of its Directors and Officers against all costs, charges and expenses in connection with any action, suit or proceeding to
which she may be made a party by reason of his/her affiliation with Company, its subsidiaries, or affiliates. 
 (e) Records. So
long as the Director shall serve as a member of the Company’s Board of Directors the Director shall have full access to books and records of Company and access to management of the Company. 

 

	 	4.	 Termination 

(a) Right to Terminate. At any time, Director may be removed as Board member as provided in Company’s Articles of Incorporation,
as amended, bylaws, as amended, and applicable law. Director may resign as Board member, or as the chair or member of any Board committee as provided in Company’s Articles of Incorporation, as amended, bylaws, as amended, and applicable law.
The resignation or removal of Director from any Board committee shall not necessarily result in the resignation or removal of the Director from the Board. 

  
 2 

 
Notwithstanding anything to the contrary contained in or arising from this Agreement or any statements, policies, or practices of Company, neither Director nor Company shall be required to
provide any advance notice or any reason or cause for termination of Director’s status as Board member, except as provided in Company’s Articles of Incorporation, as amended, Company’s bylaws, as amended, and applicable law. 

(b) Effect of Termination as Director. Upon Director’s termination this Agreement, Company shall pay to Director all compensation
and expenses to which Director is entitled up through the date of termination and Director shall be entitled to his/her rights under any other applicable law. Thereafter, all of Company’s obligations under this Agreement shall cease. 

 

	 	5.	 Director’s Termination Obligations 

(a) Director agrees that all property, including, without limitation, all equipment, tangible proprietary information, documents, records,
notes, contracts, and computer-generated materials provided to or prepared by Director incident to the Services and his/her membership on the Company’s Board or any committee therefore the sole and exclusive property of the Company and shall be
promptly returned to the Company at such time as the Director is no longer a member of the Company’s Board. 
 (b) Upon termination of
this Agreement, Director shall be deemed to have resigned from all offices and committees then held with Company by virtue of his/her position as Board member. Director agrees that following any termination of this Agreement, she shall cooperate
with Company in the winding up or transferring to other directors of any pending work and shall also cooperate with Company (to the extent allowed by law, and at Company’s expense) in the defense of any action brought by any third party against
Company that relates to the Services. 
  

	 	6.	 Nondisclosure Obligations 

Director shall maintain in confidence and shall not, directly or indirectly, disclose or use, either during or after the term of this
Agreement, any Proprietary Information (as defined below), confidential information, or trade secrets belonging to Company, whether or not it is in written or permanent form, except to the extent necessary to perform the Services, as required by a
lawful government order or subpoena, or as authorized in writing by Company. These nondisclosure obligations also apply to Proprietary Information belonging to customers and suppliers of Company, and other third parties, learned by Director as a
result of performing the Services. “Proprietary Information” means all information pertaining in any manner to the business of Company, unless (i) the information is or becomes publicly known through lawful means; (ii) the
information was part of Director’s general knowledge prior to his/her relationship with Company; or (iii) the information is disclosed to Director without restriction by a third party who rightfully possesses the information and did not
learn of it from Company. 
  

	 	7.	 Dispute Resolution 

(a) Jurisdiction and Venue. The parties agree that any suit, action, or proceeding between Director and Company (and its
affiliates, shareholders, directors, officers, employees, 

  
 3 

 
members, agents, successors, attorneys, and assigns) relating to this Agreement shall be brought in either the United States District Court for the State of Delaware or in a Delaware state court
and that the parties shall submit to the jurisdiction of such court. The parties irrevocably waive, to the fullest extent permitted by law, any objection the party may have to the laying of venue for any such suit, action or proceeding brought in
such court. If any one or more provisions of this Section shall for any reason be held invalid or unenforceable, it is the specific intent of the parties that such provisions shall be modified to the minimum extent necessary to make it or its
application valid and enforceable. 
 (b) Attorneys’ Fees. Should any litigation, arbitration or other proceeding be commenced
between the parties concerning the rights or obligations of the parties under this Agreement, the party prevailing in such proceeding shall be entitled, in addition to such other relief as may be granted, to a reasonable sum as and for its
attorneys’ fees in such proceeding. This amount shall be determined by the court in such proceeding or in a separate action brought for that purpose. In addition to any amount received as attorneys’ fees, the prevailing party also shall be
entitled to receive from the party held to be liable, an amount equal to the attorneys’ fees and costs incurred in enforcing any judgment against such party. This Section is severable from the other provisions of this Agreement and survives any
judgment and is not deemed merged into any judgment. 
  

	 	8.	 Entire Agreement 

This Agreement constitutes the entire understanding between the parties hereto superseding all prior and contemporaneous agreements or
understandings among the parties hereto concerning the Agreement. 
  

	 	9.	 Amendments; Waivers 

This Agreement may be amended, modified, superseded, or canceled, and any of the terms, covenants, representations, warranties or conditions
hereof may be waived, only by a written instrument executed by the parties or, in the case of a waiver, by the party to be charged. Any amendment or waiver by the Company must be approved by the Company’s Board of Directors and executed on
behalf of the Company by its Chief Executive Officer. If the Director shall also serve as Chief Executive Officer, such amendment or waiver must be executed on behalf of the Company by an officer designed by the Company’s Board of Directors.

  

	 	10.	 Assignment 

This Agreement shall not be assignable by either party. 
  

	 	11.	 Severability 

If any provision of this Agreement shall be held by a court to be invalid, unenforceable, or void, such provision shall be enforced to fullest
extent permitted by law, and the remainder of this Agreement shall remain in full force and effect. In the event that the time period or scope of any provision is declared by a court of competent jurisdiction to exceed the maximum time

  
 4 

 
period or scope that such court deems enforceable, then such court shall reduce the time period or scope to the maximum time period or scope permitted by law. 

 

	 	12.	 Governing Law 

This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware. 

 

	 	13.	 Interpretation 

This Agreement shall be construed as a whole, according to its fair meaning, and not in favor of or against any party. Captions are used for
reference purposes only and should be ignored in the interpretation of the Agreement. 
  

	 	14.	 Binding Agreement 

Each party represents and warrants to the other that the person(s) signing this Agreement below has authority to bind the party to this
Agreement and that this Agreement will legally bind both Company and Director. To the extent that the practices, policies, or procedures of Company, now or in the future, are inconsistent with the terms of this Agreement, the provisions of this
Agreement shall control. Any subsequent change in Director’s duties or compensation as Board Member will not affect the validity or scope of the remainder of this Agreement. 

 

	 	15.	 Director Acknowledgment 

Director acknowledges Director has had the opportunity to consult legal counsel concerning this Agreement, that Director has read and
understands the Agreement, that Director is fully aware of its legal effect, and that Director has entered into it freely based on his/her own judgment and not on any representations or promises other than those contained in this Agreement. Director
further acknowledges that Company has not provided any legal advice to Director in connection with this Agreement. 
 16. Mutual Non-Disparagement 
 Director and the Company mutually agree to forbear from making, causing to be
made, publishing, ratifying, or endorsing any and all disparaging remarks, derogatory statements or comments made to any party with respect to either of them. Further, the parties hereto agree to forbear from making any public or non-confidential statement with respect to the any claim or complain against either party without the mutual consent of each of them, to be given in advance of any such statement. 

 

	 	17.	 Counterparts 

This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. 

  
 5 

 SIGNATURE PAGE FOLLOWS 

The parties have duly executed this Agreement as of the date first written above. 

 

							
		 	HYZON MOTORS INC.	 		 	
		 	a Delaware Corporation	 		 	an Individual
				
		 	      
	 		 	      

	Name	 		 	Name	 	
	Title	 		 	Title	 	
	Date:	 	  
	 	Date:	 	  

  
 6 

 EXHIBIT A 

DESCRIPTION OF DIRECTOR’S SERVICES 

Responsibilities as Director. Director shall have all responsibilities of a Director of the Company imposed by Delaware or applicable law, the Articles
of Incorporation, as amended, and Bylaws, as amended, of Company. These responsibilities shall include, but shall not be limited to, the following: 

1. Attendance. Use best efforts to attend scheduled meetings of Company’s Board of Directors and any Board Committee on which
Director may serve; 
 2. Act as a Fiduciary. Represent the shareholders and the interests of Company as a fiduciary using his/her
best judgment acting foremost in the interests of the Company’s shareholders and stakeholders; and 
 3. Participation.
Participate as a full voting member of Company’s Board and any Board Committee in setting overall objectives, approving plans and programs of operation, formulating general policies, offering advice and counsel, serving on Board Committees, and
reviewing management performance. 
 4. Committee Chair. [Reserved] 

5. Other. 

(a)    Director acknowledges and agrees that the Company may rely upon Director’s expertise in product development,
marketing, or other business disciplines where Director has a deep understanding with respect to the Company’s business operations and that such requests may require substantial additional time and efforts in addition to Director’s
customary service as a member of the Board. 
 (b)    Director will notify the Company promptly if she is subpoenaed or
otherwise served with legal process in any matter involving the Company or its subsidiaries. Director will notify the Company if any attorney who is not representing the Company contacts or attempts to contact Director (other than Director’s
own legal counsel) to obtain information that in any way relates to the Company or its subsidiaries, and Director will not discuss any of these matters with any such attorney without first so notifying the Company and providing the Company with an
opportunity to have its attorney present during any meeting or conversation with any such attorney. 

  
 7 

 EXHIBIT B 

DIRECTOR’S FEES, STOCK OPTIONS, RSUs AND VESTING 

Cash Compensation 
 Annual Fee 

The Annual Fee shall be $                , paid annually. The Annual Fee will
be prorated based on number of months active service, rounded to the nearest whole month of service. The Annual Fee will be paid quarterly in arrears.  

The following example illustrates application of these provisions: 

Example: 
 Director is appointed to the board effective
July 16, 2021, and serves for the entire calendar year. Director’s initial Annual Fee shall be $                 [(July through December/12 months) *
$                ]. Director will receive $                 for each quarter or portion
thereof. The Annual Fee shall be payable in arrears on the first business day of the first month of each quarter. 

                 Committee Chair Fee: [Reserved] 

Equity Compensation 
 New Hire Equity Award 

Subject to actual grant by the Compensation Committee and the terms and conditions in the Company’s 2021 Stock Incentive Plan and an individual award
agreement between the Company and Director, Director will be granted Options and RSUs as further described herein with a combined value of $                , with the
Options determined using the Black Scholes formula (the “New Hire Equity Grant”). The New Hire Equity Grant shall be comprised of the following: 
  

			
	Equity Type	  	Percentage
		
	Options	  	50% of $                
	RSUs	  	50% of $                

  

	 	1.	 The Options and RSUs will be subject to 3-year vesting, where 1/3rd of the Options and RSUs will vest upon each of the one-year, two-year and three-year anniversary of the
November 11, 2021, subject to continued service through each such date. 1/3 of the Options will be exercisable from the first anniversary of the grant date. 

 

	 	2.	 Options will expire five years from the date of issue. 

  
 8 

	 	3.	 The Company shall provide a cashless (“net settlement”) exercise procedure. 

Annual Equity Award 
 Subject to actual grant by the
Compensation Committee and the terms and conditions of the Company’s 2021 Stock Incentive Plan and an individual award agreement between Company and Director, subject to Director’s ongoing service with the Company’s Board of
Directors, on the date of each Company Annual Meeting of Shareholders, Company will grant Director Options and RSUs with a combined value of $                ; the
number of Options shall be determined using the Black Scholes formula (the “Annual Equity Grant”). The Annual Equity Awards shall be comprised of the following: 
  

					
	Equity Type	  	Percentage	  	Number of Options/RSUs
			
	Options	  	50%	  	Based on Black Scholes Formula on date of grant or date prior to the date of grant
	RSUs	  	50%	  	Based on closing price on date of grant or date prior to the date of grant

 The Annual Options and RSUs will vest in full on the first anniversary of the grant date, subject to Director’s ongoing
service. The options are exercisable for five years from the first anniversary of the grant date. 

  
 9Exhibit 4.5

 

DESCRIPTION OF THE REGISTRANT’S SECURITIES

REGISTERED PURSUANT TO SECTION 12 OF THE

SECURITIES EXCHANGE ACT OF 1934

 

As of December 31, 2021, Hoth Therapeutics, Inc.
(“the Company”) had one class of security registered under Section 12 of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), its common stock, par value $0.0001 per share (the “Common Stock”).

 

Description of Common Stock

 

The following description of the Company’s
Common Stock is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference
to the Company’s Articles of Incorporation, as amended (the “Articles of Incorporation”), and the Company’s Amended
and Restated Bylaws (the “Bylaws”), each of which is incorporated by reference as an exhibit to the Annual Report on Form
10-K of which this Exhibit 4.5 is a part. The Company encourages you to read its Articles of Incorporation, Bylaws, and the
applicable provisions of the Nevada Revised Statutes for additional information.

 

Authorized Capital Shares

 

The Company’s authorized capital shares
consist of 75,000,000 shares of common stock, $0.0001 par value per share, and 10,000,000 shares of preferred stock, $0.0001 par value
per share (“Preferred Stock”), of which 5,000,000 shares of Preferred Stock have been designated as Series A Convertible Preferred
Stock, $0.0001 par value per share. As of December 31, 2021, there were 23,974,546 shares of Common Stock issued and outstanding and no
shares of Preferred Stock issued and outstanding.

 

Voting Rights

 

Holders of the Company’s Common Stock are
entitled to one vote per share on all matters voted on by the Company’s shareholders, including the election of directors. The Company’s
Articles of Incorporation and Bylaws do not provide for cumulative voting in the election of directors.

 

Dividend Rights

 

Holders of the Company’s Common Stock are
entitled, subject to the rights, privileges, restrictions and conditions attaching to any other class of shares ranking in priority to
the Common Stock, to receive any dividend declared by the Company’s board of directors.

 

Liquidation Rights

 

If the Company is voluntarily or involuntarily
liquidated, dissolved or wound-up, the holders of Common Stock will be entitled to receive, after distribution in full of the preferential
amounts, if any, all of the remaining assets available for distribution ratably in proportion to the number of shares of Common Stock
held by them.

 

Applicable Anti-Takeover Law

 

Set forth below is a summary of the provisions
of the Company’s Articles of Incorporation and Bylaws that could have the effect of delaying or preventing a change in control of
the Company. The following description is only a summary, and it is qualified by reference to the Articles of Incorporation, Bylaws and
relevant provisions of the Nevada Revised Statutes.

 

Board of Directors Vacancies

 

The Company’s Bylaws authorize only its
board of directors to fill vacant directorships. In addition, the number of directors constituting the Company’s board of directors
may be set only by resolution of the majority of the incumbent directors.

 

Special Meeting of Shareholders

 

The Company’s Bylaws provide that special
meetings of its shareholders may be called by the president of the Company, the board of directors or a committee of the board of directors
that has been duly designated by the board of directors and whose powers and authority include the power to call such meetings.

 

    

     

    

 

Advance Notice
Requirements for Shareholder Proposals and Director Nominations

 

The Company’s Bylaws provide that shareholders
seeking to bring business before its annual meeting of shareholders, or to nominate candidates for election as directors at its annual
meeting of shareholders, must provide timely notice of their intent in writing. To be timely, a shareholder’s notice must be delivered
to the secretary at the Company’s principal executive offices not later than the close of business on the 90th day nor earlier
than the close of business on the 120th day prior to the first anniversary of the preceding year’s annual meeting; provided,
however, that in the event the date of the annual meeting is not within 25 days before or after such anniversary date, notice by the shareholder
to be timely must be so delivered not later than the close of business on the 10th day following the day on which such
notice of the date of annual meeting was mailed or public disclosure of the date of the annual meeting was made, whichever occurs first.
These provisions may preclude the Company’s shareholders from bringing matters before its annual meeting of shareholders or from
making nominations for directors at its annual meeting of shareholders.

 

Authorized but Unissued Share

 

The Company’s authorized but unissued shares
of Common Stock and Preferred Stock are available for future issuance without shareholder approval and may be utilized for a variety of
corporate purposes, including future public offerings to raise additional capital, corporate acquisitions and employee benefit plans.
The existence of authorized but unissued and unreserved Common Stock and Preferred Stock could render more difficult or discourage an
attempt to obtain control of the Company by means of a proxy contest, tender offer, merger or otherwise.

 

Exclusive Forum

 

The Company’s Bylaws provide that unless
the Company consents in writing to the selection of an alternative forum, the Eighth Judicial District Court of Clark County, Nevada shall
be the sole and exclusive forum for state law claims with respect to: (i) any derivative action or proceeding brought in the name or right
of the Company or on its behalf, (ii)  any action asserting a claim for breach of any fiduciary duty owed by any director, officer,
employee or agent of the Company to the Company or the Company’s shareholders, (iii) any action arising or asserting a claim arising
pursuant to any provision of Nevada Revised Statutes Chapters 78 or 92A or any provision of the Company’s Articles of Incorporation
or Bylaws or (iv) any action asserting a claim governed by the internal affairs doctrine, including, without limitation, any action
to interpret, apply, enforce or determine the validity of the Company’s Articles of Incorporation or Bylaws. This exclusive forum
provision would not apply to suits brought to enforce any liability or duty created by the Securities Act of 1933, as amended (the “Securities
Act”), or the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction. To the extent that any such
claims may be based upon federal law claims, Section 27 of the Exchange Act creates exclusive federal jurisdiction over all suits brought
to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder. Furthermore, Section 22 of the Securities
Act creates concurrent jurisdiction for federal and state courts over all suits brought to enforce any duty or liability created by the
Securities Act or the rules and regulations thereunder. The enforceability of similar exclusive forum provisions in other corporations’
bylaws has been challenged in legal proceedings, and it is possible that a court could rule that this provision in the Company’s
Bylaws is inapplicable or unenforceable.

 

Transfer Agent and Registrar

 

The Company’s transfer agent and registrar
is Continental Stock Transfer & Trust Company whose address is 1 State Street, 30th Floor, New York , NY 10004.

 

Listing

 

The Company’s Common Stock is listed
on The Nasdaq Capital Market under the symbol “HOTH.”

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}]]