Document:

Exhibit 10.1

 

EMPLOYMENT AGREEMENT

 

THIS
EMPLOYMENT AGREEMENT (this “Agreement”) is entered into on March 15th, 2021 (the “Effective Date”) by and
among the Shift Platform, Inc. (the “Company”) and Oded Shein (the “Executive”), collectively referred
to herein as the “Parties.

 

WHEREAS,
the Parties desire to enter into this Agreement to reflect the terms and conditions of Executive’s employment with the Company;

 

WHEREAS,
the Executive has agreed to certain confidentiality and non-solicitation covenants herein in consideration of the benefits provided
to the Executive under this Agreement; and

 

NOW,
THEREFORE, in consideration of the premises and of the mutual promises and covenants contained herein, the Company and the Executive,
intending to be legally bound, hereby agree as follows:

 

 1. Employment.

 

(a) Term.
This Agreement shall commence on the Effective Date and continue until terminated pursuant to the terms of this Agreement (the
“Term”).

 

(b) Duties.
During the Term, the Executive shall continue to be employed by the Company as its Chief Financial Officer and shall serve the
Company faithfully and to the best of the Executive’s ability. The Executive shall devote the Executive’s full business
time, attention, skill and efforts to the performance of the duties required by or appropriate for the Executive’s position
with the Company. The Executive shall initially report to the Company’s chief executive officer, Toby Russell (the “CEO”)
and shall perform such duties commensurate with the Executive’s office as contained in the bylaws of the Company or as the
Executive shall reasonably be directed by the CEOs, including if requested, serving in positions at, and providing services to,
any parent, subsidiary or affiliate of the Company (collectively with the Company, the “Company Entities” and each
a “Company Entity”). Initially, during the COVID 19 pandemic (the “Pandemic”), Executive’s primary
work location shall be at his home office in North Carolina; provided that the Executive shall: (i) be able to perform his required
duties from that location, (ii) be available during the Company’s regular business hours in Pacific Standard Time, and (iii)
engage in such reasonable business travel as may be required to perform the Executive’s duties. After the Pandemic period,
the parties will mutually determine the appropriate work location for Executive going forward. If the parties determine that Executive
should relocate to the San Francisco, California or another location, Executive shall be entitled to the Relocation Allowance defined
in Section 6 of this Agreement. References to Company throughout this Agreement shall refer to the Company Entities except where
the context clearly indicates otherwise.

 

     

     

    

 

(c) Best
Efforts. Except for vacation, absences due to temporary illness and absences resulting from Disability (as defined
below), the Executive shall devote the Executive’s business time, attention and energies on a full-time basis to the
performance of the duties and responsibilities referred to in subsection (b) above. The Executive shall not during the Term
be engaged in any other business activity which, in the reasonable judgment of the CEO, would conflict with the ability of
the Executive to perform the Executive’s duties under this Agreement, whether or not such activity is pursued for gain,
profit or other pecuniary advantage. Nothing in this Section shall prevent Executive from engaging in additional activities
in connection with personal investments and community affairs, including serving on corporate, civic, or charitable boards,
and may continue to serve on any board of which the Executive was a member as of the Effective Date; provided, however, that
no such service or activities are materially inconsistent with Executive’s duties under this Agreement.

 

2. Base
Salary. During the Term, the Company shall pay to the Executive a base salary of $390,000 annually, which shall be subject
to review and, at the option of the Board of Directors for Shift Technologies, Inc. (the “Board”) (or the Compensation
Committee of the Board to the extent delegated by the Board), subject to increase (such salary, as the same may be increased from
time to time as aforesaid, being referred to herein as the “Base Salary”). The Base Salary shall be reviewed on an
annual basis for increases in accordance with the review process for senior level executives of the Company. The Base Salary shall
be payable in accordance with the Company’s normal payroll practices.

 

 3. Incentive Compensation.

 

(a) Annual
Incentive Compensation. For 2021, subject to the bonus terms set forth in Exhibit A, the Executive shall be eligible to receive
a target bonus of up to two hundred percent (200%) of the Executive’s Base Salary pro-rated for the number of days Executive
works for the Company in 2021, subject in all respects to achievement of the specified performance goals (the “2021 Bonus”).
For subsequent periods, the Executive shall be entitled to participate in an annual bonus program established by the Company with
a target annual bonus amount measured as a percentage of the Executive’s Base Salary, which shall be set at not less than
one hundred percent (100%) of Executive’s Base Salary in the performance year, subject in all respects to achievement of
the specified performance goals (together with the 2021 Bonus, the “Annual Bonus”). Performance goals used for purposes
of determining the Executive’s Annual Bonus shall be established by the Board or the relevant subcommittee of the Board in
consultation with the CEO. Any Annual Bonus earned by the Executive shall be paid after the end of the fiscal year to which it
relates, at the same time and under the same terms and conditions as other executives of the Company; provided that in no event
shall the Executive’s Annual Bonus be paid later than March 15th of the fiscal year following the fiscal year for which it
was earned. The Executive must be employed through the payment date to earn and receive any Annual Bonus, including, without limitation,
the 2021 Bonus.

 

(b)
Long-Term Incentive Compensation. The Executive shall be eligible to participate in all equity compensation plans and programs
in place at the Company and shall receive such grants as may be provided from time to time by the Company to its officers. Any
equity awards made by the Company to the Executive shall be subject to the terms and conditions set forth in the Company’s
equity compensation plan and form of grant agreement, as may be amended from time to time. Notwithstanding the forgoing, the Executive
shall be awarded an equity grant (the “2021 Equity Grant”) substantially in the form attached hereto as Exhibit B
on the date the Company next approves equity grants, which shall be not later than June 30, 2021. Notwithstanding the forgoing,
the Company’s obligation to grant the 2021 Equity Grant is contingent upon approval by the Company’s Compensation
Committee.

 

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4. Benefits.
During the Term, the Executive shall be eligible to participate in certain retirement and welfare benefit plans and programs made
available to the Company’s executives as a group, as such retirement and welfare plans may be in effect from time to time
and subject to the eligibility requirements of such plans. Except as expressly provided for herein, nothing in this Agreement shall
prevent the Company from amending or terminating any incentive, equity compensation, retirement, welfare or other employee benefit
plans, programs, policies or perquisites from time to time as the Company deems appropriate.

 

5. Paid
Time Off. During the Term, the Executive shall be entitled to paid time off (vacation, holiday, and sick leave), in accordance
with the Company’s policies.

 

6. Relocation
Expenses. In the event the parties mutually determine that the Executive should relocate of his principal residence to the
San Francisco Bay area or maintain dual residences (in North Carolina and California) for some period of time, the Company will
reimburse Executive for up to $50,000 in reasonable relocation expenses in accordance with terms that are mutually agreed upon
by the parties at the time of such relocation (the “Relocation Allowance”). For avoidance of doubt, the Company will
only pay one Relocation Allowance (up to $50,000) regardless of whether the Executive maintains dual residences, relocates his
primary residence or both.

 

7. Reimbursement
of Expenses. During the Term, the Company shall reimburse the Executive, in accordance with the policies and practices of the
Company in effect from time to time, for all reasonable and necessary traveling expenses and other disbursements incurred by the
Executive for or on behalf of the Company in connection with the performance of the Executive’s duties hereunder upon presentation
by the Executive to the Company of appropriate documentation therefore.

 

8. Indemnification.
Executive, as an officer and/or director, shall be entitled to indemnification from the Company to the fullest extent permitted
by applicable Delaware law. This indemnification shall include Executive's right to request the Company to advance to Executive
his reasonable attorneys' fees and expenses as such fees and expenses are incurred (subject to an undertaking by Executive to repay
such advances if it is ultimately determined that Executive is not entitled to be indemnified by the Company as authorized under
applicable law). No amendment, modification or repeal of the indemnity provisions in the governing documents of the Company shall
have the effect of limiting or denying any such rights with respect to actions taken or proceedings arising prior to any amendment,
modification or repeal. The rights in this section shall not be exclusive of any other right that Executive may have or hereafter
acquire with respect to indemnification and advancement and payment of expenses.

 

9. Termination
without Cause; Resignation for Good Reason. If the Executive’s employment is terminated by the Company without Cause
(as defined below), other than due to Disability, or by the Executive for Good Reason (as defined below), the provisions of this
Section 9 shall apply.

 

(a)
The Company may terminate the Executive’s employment with the Company at any time without Cause with prior written notice
to the Executive and the Executive may resign for Good Reason (as defined below).

 

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(b) Unless
the Executive complies with the Release Requirement (as defined below), no other payments or benefits shall be due under this Agreement
to the Executive, but the Executive shall be entitled to any amounts earned, accrued and owing, but not yet paid under Section
2, any benefits accrued and due in accordance with the terms of any applicable benefit plans and programs of the Company (the “Accrued
Obligations”).

 

(c) Notwithstanding
the provisions of Section 9(b), upon termination under Section 9(a) above, subject to the Release Requirement, and so long as the
Executive continues to comply with the provisions of Section 16 below, in addition to the Accrued Obligations, the Executive shall
be entitled to receive:

 

(i) Continuation
of the Executive’s Base Salary for six (6) months (the “Severance Term”) at the rate in effect for the year in
which the Executive’s date of termination occurs (but no less than the amount scheduled to be in effect when a payment is
made pursuant to Section 2), which amount shall be paid in regular payroll installments over the applicable period following the
Executive’s termination date; and

 

(ii) A
prorated Annual Bonus for the year in which the Executive’s termination of employment occurs, which shall be determined by
multiplying the Executive’s Annual Bonus, determined based on actual performance of Company goals, without negative discretion,
and provided that any personal goals shall be considered to be fulfilled, by a fraction, the numerator of which is the number of
days during which the Executive was employed by the Company in the year in which the termination date occurs and the denominator
of which is 365. The prorated Annual Bonus, if any, shall be paid at the same time as bonuses are paid to other employees of the
Company, but not later than March 15 of the fiscal year following the fiscal year for which it was earned; and

 

(iii) if
applicable, any Annual Bonus amount earned in the year prior to Executive’s termination, but not yet paid in accordance with
the Company’s annual bonus plan terms; provided that any such bonus shall be paid at the same time as bonuses are paid to
other employees of the company, but not later than March 15th of the fiscal year following the fiscal year for which
it was earned; and

 

(iii)
If the Executive timely and properly elects health continuation coverage under the Consolidated Omnibus Budget Reconciliation
Act of 1985 (“COBRA”), then continued health (including hospitalization, medical, dental, vision etc.) insurance
coverage substantially similar in all material respects as the coverage provided to the Company’s then other active
senior executives for twelve (12) months; provided that the Executive shall pay an amount equal to the amount active
employees pay for such coverage as of the date of the Executive’s termination (the “Monthly COBRA Costs”)
and the period of COBRA health care continuation coverage provided under section 4980B of the Internal Revenue Code, as
amended and the regulations and guidance promulgated thereunder (the “Code”) shall run concurrently with the
period; provided further that, notwithstanding the foregoing, the amount of any benefits provided by this Section 9(d) shall
be reduced or eliminated to the extent the Executive becomes entitled to duplicative benefits by virtue of the
Executive’s subsequent or other employment. The Executive acknowledges that the payments pursuant to this Section 9(d)
are taxable and subject to applicable withholding and payroll taxes.

 

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10. Voluntary
Termination. The Executive may voluntarily terminate the Executive’s employment for any reason or no reason, with prior
written notice. In such event (other than a resignation with Good Reason), after the effective date of such termination, no payments
shall be due under this Agreement.

 

11. Death;
Disability. If the Executive’s employment is terminated by the Company by reason of death or, subject to the requirements
of applicable law, Disability (as defined below), upon the Executive’s date of termination or death, no payments shall be
due under this Agreement, except that the Executive (or in the event of the Executive’s death, the Executive’s executor,
legal representative, administrator or designated beneficiary, as applicable), shall be entitled to the Accrued Obligations.

 

12. Cause.
The Company may terminate the Executive’s employment at any time for Cause upon written notice to the Executive, in which
event all payments under this Agreement shall cease, except for the Accrued Obligations.

 

13. Application
of Section 280G. If any of the payments or benefits received or to be received by the Executive (including, without
limitation, any payment or benefits received in connection with a Change in Control or the Executive’s termination of
employment, whether pursuant to the terms of this Agreement or any other plan, arrangement or agreement, or otherwise) (all
such payments collectively referred to herein as the “280G Payment”) constitute “parachute payments”
within the meaning of Code Section 280G and will be subject to the excise tax imposed under Code Section 4999 (the
“Excise Tax”), then the 280G Payment shall be equal to the Reduced Amount. The “Reduced Amount” shall
be either (i) the largest portion of the 280G Payment that would result in no portion of the 280G Payment being subject to
the Excise Tax, or (ii) the largest portion of the 280G Payment, up to and including the total 280G Payment, whichever
amount, after taking into account all applicable federal, state and local employment taxes, income taxes and the Excise Tax
(all computed at the highest applicable marginal rate), results in the Executive’s receipt, on an after-tax basis, of
the greater amount of the 280G Payment, notwithstanding that all or some portion of the 280G Payment may be subject to the
Excise Tax. In making the determination described above, the Company, in its sole and absolute discretion, shall make a
reasonable determination of the value to be assigned to any restrictive covenants in effect for the Executive, and the amount
of the 280G Payment shall be reduced by the value of those restrictive covenants to the extent consistent with Code Section
280G. If a reduction in payments or benefits constituting “parachute payments” is necessary so that the 280G
Payment equals the Reduced Amount, the amounts payable or benefits to be provided to the Executive shall be reduced such that
the economic loss to the Executive as a result of the “parachute payment” elimination is minimized. In applying
this principle, the reduction shall be made in a manner consistent with the requirements of Code Section 409A and where two
economically equivalent amounts are subject to reduction but payable at different times, such amounts shall be reduced on a
pro rata basis but not below zero. All determinations to be made under this Section 13 shall be made by an independent
accounting firm, consulting firm or other independent service provider selected by the Company immediately prior to the
Change in Control (the “Firm”), which shall provide its determinations and any supporting calculations both to
the Company and the Executive within ten (10) days of the Change in Control. Any such determination by the Firm shall be
binding upon the Company and the Executive. All of the fees and expenses of the Firm in performing the determinations
referred to in this Section 13 shall be borne solely by the Company.

 

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 14. Definitions.

 

(a) Cause.
For purposes of this Agreement, “Cause” shall mean the Executive’s action, or failure to act, during the Executive’s
employment with the Company that is determined to constitute any of the following: (i) Executive's failure to reasonably perform
the duties assigned to him by either CEO or the Board; (ii) dishonesty, intentional misconduct or material breach of any agreement
with any Company Entity; or (iii) commission of a crime involving dishonesty, breach of trust, or physical or emotional harm to
any person. Prior to any termination for Cause pursuant to each such event listed in (i) or (ii) above, to the extent such event(s)
is capable of being cured by the Executive, the Company shall give the Executive written notice thereof describing in reasonable
detail the circumstances constituting Cause and the Executive shall have the opportunity to remedy same within thirty (30) days
after receiving written notice, it being understood and agreed that Executive will not be entitled to any notice or cure period
for any failure that occurs or continues subsequent to the expiration of the one cure period referenced herein.

 

(b) Change
in Control. For purposes of this Agreement, a “Change in Control” shall have the same meaning ascribed to such
term under the Company’s 2020 Omnibus Equity Compensation Plan, as in effect on the date hereof and as may be amended from
time to time, or such successor plan.

 

(c) Disability.
For purposes of this Agreement, “Disability” shall mean the Executive has been unable to perform the essential functions
of the Executive’s position with the Company, either with or without a reasonable accommodation, by reason of physical or
mental incapacity for a period of six consecutive months, subject to any obligations or limitations imposed by federal, state or
local laws, including any duty to accommodate Executive under the federal Americans with Disabilities Act or applicable state law.

 

(d) Good
Reason. For purposes of this Agreement, “Good Reason” shall mean: (i) a material diminution in the
Executive’s compensation as set forth in Sections 2 and 3(a) hereof; or (ii) a meaningful and detrimental alteration in
the Executive’s position or in the nature or status of the Executive’s responsibilities or authority. The
Executive must provide written notice of termination for Good Reason to the Company within sixty (60) days after the event
constituting Good Reason first occurs, which notice shall state such Good Reason in reasonable detail. The Company shall have
a period of thirty (30) days in which it may correct the act or failure to act that constitutes the grounds for Good Reason
as set forth in the Executive’s notice of termination. If the Company does not correct the act or failure to act, the
Executive must terminate the Executive’s employment for Good Reason within sixty (60) days after the end of the cure
period, in order for the termination to be considered a Good Reason termination.

 

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(e) Release
Requirement. Notwithstanding anything herein to the contrary, the Executive shall not be entitled to receive any payment that
is subject to the requirements of this Section 14(e) (the “Release Requirement”) unless, in each case, the Executive
(or the Executive's legal representative) has executed and delivered to the Company a general release in the form attached hereto
as Exhibit C (subject to updates for changes in law and facts, as reasonably determined by the Company) (the “General Release”),
which General Release shall be in full force and effect (and no longer subject to revocation) within sixty (60) calendar days after
the Executive's termination of employment (the “Release Effective Date”). To the extent that any payment subject to
the Release Requirement is deferred compensation under Section 409A that is not otherwise exempt from the application of Section
409A, and if the sixty (60) calendar day period referenced in the preceding sentence spans two calendar years, then, solely to
the extent necessary to avoid the incurrence of adverse personal tax consequences under Section 409A, the payment of such amount
will not occur until the second calendar year.

 

 15. Representations, Warranties and Covenants of the Executive.

 

 (a) Restrictions. The Executive represents and warrants to the Company that:

 

(i) There
are no restrictions, agreements or understandings whatsoever to which the Executive is a party which would prevent or make unlawful
the Executive’s execution of this Agreement or the Executive’s employment hereunder, which is or would be inconsistent
or in conflict with this Agreement or the Executive’s employment hereunder, or would prevent, limit or impair in any way
the performance by the Executive of the obligations hereunder; and

 

(ii) The
Executive has disclosed to the Company all restraints, confidentiality commitments, and other employment restrictions that the
Executive has with any other employer, person or entity.

 

(b) Obligations
to Former Employers. The Executive covenants that in connection with the Executive’s provision of services to the Company,
the Executive shall not breach any obligation (legal, statutory, contractual, or otherwise) to any former employer or other person,
including, but not limited to, obligations relating to confidentiality and proprietary rights.

 

(c) Obligations
upon Termination. Upon and after the Executive’s termination or cessation of employment with the Company and until such
time as no obligations of the Executive to the Company hereunder exist, the Executive shall provide a complete copy of this Agreement
to any person, entity or association which the Executive proposes to be employed, affiliated, engaged, associated or to establish
any business or remunerative relationship prior to the commencement of any such relationship.

 

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 16. Restrictive Covenants.

 

(a) Non-Solicitation.
In consideration of the promises contained herein and the consideration to be received by the Executive hereunder (including,
without limitation, the potential compensation described in Sections 9, 10, 11 and 13, if any), without the prior written
consent of the Company, during the Term (and except for the benefit of the Company Entities) and, subject to applicable law,
for a period of twelve (12) months immediately following the Executive’s separation from the Company, however caused,
the Executive shall not, directly or indirectly, either for or on behalf of herself or any other person or entity, solicit or
induce or attempt to solicit or induce any employee, consultant or independent contractor of any Company Entity, to
discontinue employment or engagement with such Company Entity; or otherwise interfere or attempt to interfere with the
relationships between the any Company Entity, and their employees, consultants, or independent contractors. This provision
does not apply to any employee or contractor who responds to a general advertisement not targeted at any specific employees
or contractors of any Company Entity or to any employee or contractor who independently seeks employment with the
Executive’s subsequent employer through no solicitation or contact by the Executive.

 

(b) Non-Disparagement.
The Executive shall not disparage the Company Entities or their respective officers, directors, investors, employees, and affiliates
or make any public statement reflecting negatively on the Company Entities or their respective officers, directors, investors,
employees, and affiliates, including (without limitation) any matters relating to the operation or management of the Company Entities,
irrespective of the truthfulness or falsity of such statement. The Company shall instruct and take all reasonable steps to cause
its officers and members of the Board not to disparage the Executive on any matters relating to the Executive’s services
to the Company Entities, business, professional or personal reputation or standing in the Company’s industry, irrespective
of the truthfulness or falsity of such statement. Nothing in the section shall prohibit the Parties from testifying truthfully
in any forum or to any governmental agency.

 

(c) Proprietary
Information. At all times the Executive shall hold in strictest confidence and will not disclose, use, lecture upon or publish
any Proprietary Information (defined below) of the Company Entities, except as such disclosure, use or publication may be required
in connection with the Executive’s work for the Company Entities, or unless the Company expressly authorizes such disclosure
in writing or it is required by law or in a judicial or administrative proceeding in which event the Executive shall promptly notify
the Company of the required disclosure and assist the Company if a determination is made to resist the disclosure. For purposes
of this Section 16(c), “Proprietary Information” shall mean any and all confidential and/or proprietary knowledge,
data or information of the Company or its respective affiliated entities, including (without limitation) any information relating
to financial matters, investments, budgets, business plans, marketing plans, personnel matters, business contacts, products, processes,
know- how, designs, methods, improvements, discoveries, inventions, ideas, data, programs, and other works of authorship; provided,
that it shall not include any information that is known to the Company to be publicly available.

 

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 (d) Invention Assignment.

 

(i) Company
Ownership. Executive acknowledges and agrees that the Company owns, and has all rights, title and interests in and to,
the Company Property (as defined below). To the extent that any Company Property is capable of protection by copyright as a
work made for hire, such Company Property is a work made for hire, as defined in the United States Copyright Act (17 U.S.C.
Section 101), and ownership of all copyrights worldwide (including all renewals and extensions) therein vests in the Company
from the time of creation. To the extent not already vested in or assigned to the Company, Executive agrees to and does
hereby irrevocably assign, transfer and grant to the Company, its successors and assigns, all rights, title and interests in
and to any and all Company Property, free and clear of all liens and encumbrances, and without further consideration. The
Company, and its successors and assigns, accept all such rights, title and interests. To the extent Executive retains any
Moral Rights (as defined below), Executive hereby irrevocably waives, to the extent permitted by applicable law, such Moral
Rights (and any claims for such rights) as may have existed in the past, exist now or come into existence in the future.

 

(ii) “Work
Product” means any and all discoveries, inventions, concepts, formulas, ideas, confidential or proprietary information,
know-how, trade secrets, techniques, technologies, research, development, prototypes, designs, engineering and manufacturing information,
processes, products, services, methods, systems, improvements, modifications, derivative works, specifications, requirements, data,
parameters, drawings, reports, hardware, algorithms, flow charts, software (including all programs, code, firmware, source code,
object code, executable code and related documentation), works of authorship, proposals, customer, sales, marketing, and purchasing
information, other information and materials, and any and all tangible embodiments of any of the foregoing (in each case whether
or not technical, business or financial, and whether or not patentable, copyrightable or registerable) that may be, are, have been,
or were created, conceived, reduced to practice, prepared, contributed, developed or learned by Executive, either alone or jointly
with others, resulting from or in the course of employment with the Company Entities. For purposes of clarity and avoidance of
doubt, Work Product shall not include any of the above to the extent developed in the course of the Executive’s provision
of services as a member of the board of directors of another company as permitted pursuant to Section 1(c).

 

(iii) “Company
Property” means any and all Work Product as well as any and all trade secrets, trademarks, service marks, associated
goodwill, patents (including utility models, utility patents and design patents), copyrights, design rights, economic rights, mask
works, database rights, the right of priority, publicity rights, privacy rights, shop rights, and all other intellectual property
or proprietary rights in and to the Work Product, in any jurisdictions throughout the worldwide, whether registered or unregistered,
whether published or not published, including all applications, including all registrations, certificates, governmental grants,
and renewals for any of the foregoing, and including all rights to claim priority, file applications, and obtain grants, renewals
and extensions in connection with any of the foregoing, all rights to assert, defend and recover title in connection with any of
the foregoing, and all rights to sue and recover for any past, present and future infringement, misappropriation, violation, injunctive
relief, damages, lost profits, royalties, and payments in connection with any of the foregoing, in each case, as may have existed
in the past, exist now, or come into existence in the future throughout the world. To the fullest extent allowed by law, the Company
Property includes any and all rights of paternity, integrity, disclosure and withdrawal and any other rights that may be known
as or referred to as “moral rights,” “artist’s rights,” “droit moral,” or the like in
and to the Work Product (the “Moral Rights”).

 

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(iv) Prior
Materials. If the Executive utilizes or incorporates any Prior Materials (as defined below) in connection with or into
any Company Property or any business, operation, products or services of any of the Company or the Company Entities, (i) the
Executive shall inform the Company of such utilization or incorporation, in writing, in advance of such utilization or
incorporation, and (ii) whether or not the Executive complies with the foregoing provision, to the maximum extent permitted
by applicable law, the Company and the Company Entities are hereby granted a nonexclusive, fully-paid up, royalty-free,
perpetual, irrevocable, worldwide license (including the right to sublicense for multiple tiers) under the Prior Materials
and all intellectual property rights therein to use, execute, reproduce, transmit, display, perform, prepare derivative works
based upon and distribute (internally and externally) copies of any and all Prior Materials and derivative works thereof, to
use, make, sell, offer to sell, import and export any and all products, methods and services, and to perform any and all
activities that may constitute direct or indirect infringement of any of the intellectual property rights in the Prior
Materials. “Prior Materials” means any and all inventions, improvements, developments, formulas,
procedures, methods, processes, techniques, concepts, discoveries, works of authorship and other information and materials
owned by the Executive or in which the Executive has an interest, including listed on Exhibit D. Executive shall provide
Exhibit D, to be attached to this Agreement no later than April 30, 2021.

 

(v) Further
Assistance. The Executive will deliver promptly to the Company or its designee (without charge to the Company but at the expense
of the Company) such written instruments and do such other acts as may be necessary to preserve the property rights, to obtain,
maintain and enforce applications and registrations, and to effect or perfect the rights and ownership of the Company, its successors,
and assigns in connection with any Company Property, including (i) executing assignments, declarations, powers of attorney and
other documents related to any Company Property, (ii) rendering assistance in making, filing, prosecuting, maintaining and registering
applications related to any Company Property, and (iii) rendering assistance in connection with defending and enforcing any Company
Property. The Executive hereby irrevocably designates and appoints the Company, its successors and assigns and their designees,
as Executive’s agent and attorney-in-fact, with full power of substitution and revocation, to act for and on behalf of the
Executive, to execute, verify and file any such document and to do all other lawfully permitted acts to further the purposes of
Section, with the same force and effect as if the Executive had signed the documents or taken those actions itself.

 

(vi) Records.
The Executive agrees to keep accurate, complete and timely records of all Work Product. The Executive agrees to promptly and fully
disclose and describe all Company Property in writing to the Company.

 

(vii) Exclusions.
The Executive understands and acknowledges that the Executive has been advised, pursuant to Section 2872 of the California Labor
Code, that the provisions of this Agreement requiring the assignment of inventions do not apply to any invention that qualifies
fully under Section 2870 of the California Labor Code, which provides:

 

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

 

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

 

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

 

(e) Return
of Property. Upon termination of the Executive’s employment with the Company for any reason, voluntarily or involuntarily,
and at any earlier time the Company requests, the Executive will deliver to the person designated by the Company all originals
and copies of all documents and property of the Company in the Executive’s possession, under the Executive’s control
or to which the Executive may have access. The Executive will not reproduce or appropriate for the Executive’s own use, or
for the use of others, any property, Proprietary Information or Work Product.

 

(f) Permitted
Conduct. Notwithstanding the foregoing restrictions, nothing in this Agreement shall (i) prohibit the Executive from owning
a five (5%) percent or smaller interest in any corporation required to file period reports with the United States Securities and
Exchange Commission, so long as the Executive performs no services or lends any assistance to such corporation during the Term;
(ii) deny the Executive the right to disclose information about unlawful acts in the workplace, including, but not limited to,
sexual harassment; (iii) prohibit the Executive from providing information to, or testifying or otherwise assisting in any investigation
or proceeding brought by, any federal or state regulatory or law enforcement agency or legislative body, or any self-regulatory
organization or filing, testifying, participating in, or otherwise assisting in a proceeding relating to an alleged violation of
any federal, state, or municipal law relating to fraud, whistleblowing or any rule or regulation of the Securities and Exchange
Commission or other self-regulatory organization; (iv) prohibit the Executive from filing an administrative charge with the Equal
Employment Opportunity Commission (“EEOC”) and/or participating in an investigation by the EEOC; (v) prohibit the Executive
from making any disclosure of information required by process of law; or (vi) pursuant to the Defend Trade Secrets Act of 2016,
prevent the Executive from disclosing trade secrets where the disclosure is made: (x) in confidence to a federal, state, or local
government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating
a suspected violation of law; (y) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made
under seal; or (z) to an attorney for use in a court proceeding in connection with a lawsuit against the employer for retaliation
for reporting a suspected violation of law if the information is filed under seal and not disclosed except pursuant to court order.

 

 17. Miscellaneous Provisions.

 

 (a) Entire Agreement; Amendments.

 

(i) This
Agreement and the other agreements referred to herein contain the entire agreement between the Parties hereto and supersede any
and all prior agreements and understandings concerning the Executive’s employment by the Company.

 

(ii)
This Agreement shall not be altered or otherwise amended, except pursuant to an instrument in writing signed by each of the Parties
hereto.

 

    11

     

    

 

(b) Descriptive
Headings. Descriptive headings are for convenience only and shall not control or affect the meaning or construction of any
provisions of this Agreement. When the context admits or requires, words used in the masculine gender shall be construed to include
the feminine, the plural shall include the singular, and the singular shall include the plural.

 

(c) Notices.
All notices or other communications pursuant to this Agreement shall be in writing and shall be deemed to be sufficient if delivered
personally, telecopied, sent by nationally-recognized, overnight courier or mailed by registered or certified mail (return receipt
requested), postage prepaid, to the Parties at the following addresses (or at such other address for a party as shall be specified
by like notice):

 

		(i)	if to the Company, to: General Counsel

 

Shift Technologies, Inc.

2525 16th Street, Suite 316, San Francisco, CA
94103

(650) 246-9966

Jennifer.gaines@shift.com

 

with a copy to:

 

Jeffrey Shuman

Jenner & Block LLP

353 N. Clark Street, Chicago, IL 60654 (312)
840-8695

JShuman@jenner.com

 

		(ii)	if to the Executive, to the address in the Company’s personnel records.

 

All
such notices and other communications shall be deemed to have been delivered and received (A) in the case of personal delivery,
on the date of such delivery, (B) in the case of delivery by telecopy, on the date of such delivery, (C) in the case of delivery
by nationally- recognized, overnight courier, on the Business Day following dispatch, and (D) in the case of mailing, on the third
Business Day following such mailing. As used herein, “Business Day” shall mean any day that is not a Saturday, Sunday
or a day on which banking institutions in the state of California are not required to be open.

 

(d) Counterparts.
This Agreement may be executed in any number of counterparts, and each such counterpart shall be deemed to be an original instrument,
but all such counterparts together shall constitute but one agreement. This Agreement may be executed and delivered by facsimile.

 

(e) Governing
Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the state of
California applicable to contracts made and performed wholly therein without regard to rules governing conflicts of law,
provided that, the parties agree that the definition of a Change in Control shall be governed by Delaware law.

 

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 (f) Non-Exclusivity of Rights; Resignation from Boards; Clawback.

 

(i) Nothing
in this Agreement shall prevent or limit the Executive’s continuing or future participation in or rights under any benefit,
bonus, incentive or other plan or program provided by the Company and for which the Executive may qualify; provided, however, the
Executive hereby waives the Executive’s right to receive payments under any severance plan or similar program applicable
to employees of the Company.

 

(ii) Except
as otherwise determined by the Board, if the Executive’s employment with the Company terminates for any reason, the Executive
shall immediately resign from all boards of directors of the Company Entities, and any other entities for which the Executive serves
as a representative of the Company and any committees thereof, provided that, prior to Executive’s termination of employment,
the Executive may petition the Board in writing for the Board to waive Executive’s required resignation from the Board following
Executive’s termination. The Board will take formal action on such petition within 10 Business Days of its receipt thereof.

 

(iii) Except
to the extent prohibited by California Labor Code Sections 221 and 224, the Executive agrees that the Executive will be subject
to any compensation clawback, recoupment and anti-hedging policies that may be applicable to the Executive as an executive of the
Company, as in effect from time to time and as approved by the Board or a duly authorized committee thereof.

 

(g) Benefits
of Agreement; Assignment. All of the terms and provisions of this Agreement shall be binding upon and inure to the benefit
of and be enforceable by the respective heirs, executors, administrators, legal representatives, successors and assigns of the
Parties hereto, except that the duties and responsibilities of the Executive under this Agreement are of a personal nature and
shall not be assignable or delegable in whole or in part by the Executive. The Company shall require any successor (whether direct
or indirect, by purchase, merger, consolidation, reorganization or otherwise) to all or substantially all of the business or assets
of the Company, within fifteen (15) days of such succession, expressly to assume and agree to perform this Agreement in the same
manner and to the same extent as the Company would be required to perform if no such succession had taken place and the Executive
acknowledges that in such event the obligations of the Executive hereunder, including but not limited to those under Sections 15
or 16, will continue to apply in favor of the successor. Without limitation, the Company may move the Executive’s employment
from Shift to the Company, or another Company Entity at which other officers of the Company are employed.

 

(h)
Waiver of Breach. No delay or omission by a party in exercising any right, remedy or power under this Agreement or existing
at law or in equity shall be construed as a waiver thereof, and any such right, remedy or power may be exercised by such party
from time to time and as often as may be deemed expedient or necessary by such party in its sole discretion.

 

    13

     

    

 

(i) Severability.
In the event that any provision of this Agreement is determined to be partially or wholly invalid, illegal or unenforceable in
any jurisdiction, then such provision shall, as to such jurisdiction, be modified or restricted to the extent necessary to make
such provision valid, binding and enforceable, or if such provision cannot be modified or restricted, then such provision shall,
as to such jurisdiction, be deemed to be excised from this Agreement; provided, however, that the binding effect and enforceability
of the remaining provisions of this Agreement, to the extent the economic benefits conferred upon the Parties by virtue of this
Agreement remain substantially unimpaired, shall not be affected or impaired in any manner, and any such invalidity, illegality
or unenforceability with respect to such provisions shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

(j) Remedies.
All remedies hereunder are cumulative, are in addition to any other remedies provided for by law and may, to the extent permitted
by law, be exercised concurrently or separately, and the exercise of any one remedy shall not be deemed to be an election of such
remedy or to preclude the exercise of any other remedy. The Executive acknowledges that in the event of a breach of any of the
Executive’s covenants contained in Sections 15 or 16, the Company shall be entitled to immediate relief enjoining such violations
in any court or before any judicial body having jurisdiction over such a claim.

 

(k) Survival.
The respective rights and obligations of the Parties hereunder shall survive the termination of this Agreement to the extent necessary
to the intended preservation of such rights and obligations.

 

(l) Jurisdiction.
Each of the Parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction
of any California state court or federal court of the United States of America sitting in the state of California, and any appellate
court from any thereof, in any action or proceeding arising out of or relating to this Agreement or any related agreement or for
recognition or enforcement of any judgment. Each of the Parties hereto hereby irrevocably and unconditionally agrees that jurisdiction
and venue in such courts would be proper, and hereby waive any objection that such courts are an improper or inconvenient forum.
Each of the Parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced
in other jurisdictions by suit on the judgment or in any other manner provided by law. Each of the Parties hereto irrevocably and
unconditionally waives, to the fullest extent it may legally and effectively do so, any objection that it may now or hereafter
have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any related agreement
in any California state or federal court. Each of the Parties hereto irrevocably waives, to the fullest extent permitted by law,
the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

 

(m) Withholding.
All payments under this Agreement shall be made subject to applicable tax withholding, and the Company shall withhold from any
payments under this Agreement all federal, state and local taxes as the Company is required to withhold pursuant to any law or
governmental rule or regulation. The Executive shall bear all expense of, and be solely responsible for, all federal, state and
local taxes due with respect to any payment received under this Agreement.

 

    14

     

    

 

(n) Compliance with Section 409A of the Code.

 

(i) This
Agreement is intended to comply with Section 409A of the Code and its corresponding regulations, to the extent applicable. Severance
benefits under the Agreement are intended to be exempt from Section 409A of the Code under the “short term deferral”
exemption, to the maximum extent applicable, and then under the “separation pay” exemption, to the maximum extent applicable.
Notwithstanding anything in this Agreement to the contrary, payments may only be made under this Agreement upon an event and in
a manner permitted by Section 409A of the Code, to the extent applicable. As used in the Agreement, the term “termination
of employment” shall mean the Executive’s separation from service with the Company within the meaning of Section 409A
of the Code and the regulations promulgated thereunder. In no event may the Executive, directly or indirectly, designate the calendar
year of a payment. For purposes of Section 409A of the Code, each payment hereunder shall be treated as a separate payment and
the right to a series of payments shall be treated as the right to a series of separate payments. All reimbursements and in-kind
benefits provided under the Agreement shall be made or provided in accordance with the requirements of Section 409A of the Code.
Notwithstanding any provision of this Agreement to the contrary, in no event shall the timing of the Executive’s execution
of the Release, directly or indirectly, result in the Executive designating the calendar year of payment, and if a payment that
is subject to execution of the Release could be made in more than one taxable year, payment shall be made in the later taxable
year.

 

(ii) Notwithstanding
anything herein to the contrary, if, at the time of the Executive’s termination of employment with the Company, the Company
has securities which are publicly traded on an established securities market and the Executive is a “specified employee”
(as such term is defined in section 409A of the Code) and it is necessary to postpone the commencement of any payments or benefits
otherwise payable under this Agreement as a result of such termination of employment to prevent any accelerated or additional tax
under section 409A of the Code, then the Company will postpone the commencement of the payment of any such payments or benefits
hereunder (without any reduction in such payments or benefits ultimately paid or provided to the Executive) that are not otherwise
paid within the ‘short-term deferral exception’ under Treas. Reg. §1.409A-1(b)(4), and the ‘separation pay
exception’ under Treas. Reg. §1.409A-1(b)(9)(iii), until the first payroll date that occurs after the date that is six
months following the Executive’s “separation of service” (as such term is defined under code section 409A of
the Code) with the Company. If any payments are postponed due to such requirements, such postponed amounts will be paid in a lump
sum to the Executive on the first payroll date that occurs after the date that is six months following Executive’s separation
of service with the Company. If the Executive dies during the postponement period prior to the payment of postponed amount, the
amounts withheld on account of section 409A of the Code shall be paid to the personal representative of the Executive’s estate
within sixty (60) days after the date of the Executive’s death.

 

[Signature page follows]

 

    15

     

    

 

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

 

	 	SHIFT PLATFORM, INC.
	 	 	 
	 	By:	/s/ Toby Russell
	 	Name: 	Toby Russell
	 	Title:	Chief Executive Officer
	 	 	 
	 	EXECUTIVE
	 	 	 
	 	By:	/s/ Oded Shein
	 	Name:	Oded Shein

 

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Exhibit A

 

2021 Annual Bonus Program

 

The following terms and conditions
shall govern the Annual Bonus of the Executive for the performance year of 2021, which pro-rated Annual Bonus will be paid (if
earned) in accordance with Section 3(a) of the Employment Agreement in 2022.

 

Subject to the Executive’s
continued employment with the Company through the date the 2021 Annual Bonus is paid, the Executive shall be eligible for an Annual
Bonus of up to:

 

		●	100% of the Executive’s 2021 Annual Salary if the Company (on a consolidated
basis) meets the performance goals for 2021 to be established by the Company’s Compensation Committee for senior executives
of the Company, based on the Company’s 2021 budget as approved by the Board.

 

		●	An additional 100% of Executive’s 2021 Annual Salary if the Company
(on a consolidated basis) meets the performance goals for 2021 to be established by the Company’s Compensation Committee,
based on stretch goals when compared to the Company’s 2021 annual budget as approved by the Board.

 

    17

     

    

 

Exhibit
B

 

Form
of Award pursuant to the

Company’s
2020 Omnibus Equity Compensation Plan

 

SHIFT TECHNOLOGIES, INC. 

2020 OMNIBUS EQUITY COMPENSATION PLAN

 

RSU AGREEMENT

 

THIS
AGREEMENT (this “Agreement”), dated _____________, 2021 (the “Date of Grant”),
between Shift Technologies, Inc., a Delaware corporation (the “Company”), and Oded Shein (“Grantee”),
is made pursuant and subject to the provisions of the Company’s 2020 Omnibus Equity Compensation Plan (the “Plan”),
a copy of which has been made available to the Grantee. All capitalized terms used herein that are not otherwise defined in this
Agreement have the same meaning given to them in the Plan.

 

1. 
Award. Subject to the terms and conditions of the Plan and subject further to the terms and conditions herein set forth,
the Company hereby grants the Grantee 273,311 Restricted Stock Units (“RSUs”), subject to the vesting terms
set forth in Section 2 below. Subject to the provisions of this Agreement and the Plan, each vested RSU represents the right
to receive one (1) share of Stock. The RSUs shall apply only with respect to a whole number of shares of Stock.

 

2. 
Vesting. Certain of the RSUs shall vest based on the passage of time (“Time RSUs”) and certain of the
RSUs shall vest upon the achievement of specified performance metrics (“Performance RSUs” or “PSUs”).
For purposes of clarity, references to “RSUs” include both Time RSUs and PSUs. 204,983 RSUs subject to this award are
Time RSUs and 68,328 RSUs subject to this award are Performance RSUs. The Time RSUs and Performance RSUs shall vest in accordance
with the vesting schedules below. The “Vesting Commencement Date” shall be [_________].

 

 (a) Time RSUs.

 

(i) 
The Time RSUs shall vest, subject to the Grantee’s continuous employment with the Company (or an Affiliate of the Company)
through the applicable vesting date, as follows:

 

		a.	1/4th of the Time RSUs shall vest on the first (1st) anniversary of the Vesting
Commencement Date; and

 

		b.	3/4th of the Time RSUs shall vest quarterly over the three (3) year period following
the first (1st) anniversary of the Vesting Commencement Date, such that 1/12th of such amount shall vest
on the last day of the three (3) month period following the first (1st) anniversary of the Vesting Commencement Date
and 1/12th of such amount will vest on the last day of each of the eleven (11) successive three (3) month periods thereafter.

 

(ii) 
Time RSUs will vest in whole numbers; any fractional amounts will be rounded down and will be available to vest (in whole numbers)
in the next vesting period.

 

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(iii) 
From and after the Vesting Commencement Date through the date on which the Time RSUs become fully vested pursuant to subparagraph
(i) above, the unvested portion of the grant of Time RSUs remains subject to forfeiture in accordance with the terms of Section
3 hereof.

 

 (b) Performance RSUs. 

 

(i) 
The RSUs designated as PSUs shall vest, subject to the Grantee’s continuous employment with the Company (or an Affiliate
of the Company), on a quarterly basis, provided that the applicable Performance Hurdle for the applicable Performance Year has
been met (as such terms are provided in the table below), and the following rules shall apply to such vesting:

 

a. 
If a Performance Hurdle has not been met by the end of a quarterly vesting period, the PSUs available to vest during such quarter
shall be available to vest in the next quarterly vesting period within that Performance Year and shall vest, if applicable, on
the last day of the quarterly vesting period in which the Performance Hurdle is met.

 

b. 
If the Performance Hurdle for the 3rd Performance Year is not met, the PSUs available to vest in such 3rd
Performance Year remain eligible to vest in any applicable quarter of the 4th Performance Year if the 4th
Performance Year’s Performance Hurdle is met during that year, such vesting to occur on the last day of such quarterly vesting
period. Subject to the preceding sentence, if a Performance Hurdle for a Performance Year is not met, the PSUs eligible to vest
with respect to that Performance Year shall immediately terminate and become null and void.

 

c. 
PSUs will vest in whole numbers; any fractional amounts will be rounded down and will be available to vest (in whole numbers) in
the next vesting period.

 

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	Performance Year	 	Percentage of PSUs available to vest in a Quarterly Vesting Period	 	Performance Hurdle
	The one year period commencing on the second anniversary of the Vesting Commencement Date (the “3rd Performance Year”)
  
	 	12.5% on the last day of each of the first, second, third and fourth quarters of the 3rd Performance Year
  
	 	The Company’s stock price closes at $23 or greater for 30 Trading Days out of any 45 consecutive Trading Days during the 3rd Performance Year
  
 The term “Trading Day” means any full day the Nasdaq Stock Market is open for trading
  

	The one
year period commencing on the third anniversary of the Vesting Commencement Date (the “4th Performance Year”)
	 	12.5% at the end of each of the first, second, third and fourth quarters of the 4th Performance Year
  
	 	The Company’s stock price closes at $28 or greater for 30 Trading Days out of any 45 consecutive Trading Days during the 4th Performance Year

 

(ii) From
and after the Vesting Commencement Date through the date on which the PSUs become fully vested pursuant to subparagraph (i) above,
the unvested portion of the grant of PSUs remains subject to forfeiture in accordance with the terms of Section 3 hereof.

 

3. Termination
of Service.

 

(a) 
General rule.  When a Grantee’s employment with the Company (or an Affiliate of the Company) terminates, any
outstanding and unvested Time RSUs and PSUs shall immediately terminate and become null and void.

 

(b) 
Good Leaver. Notwithstanding the foregoing, subject to the Release Requirement, when a Grantee’s employment with the
Company (or an Affiliate of the Company) terminates as a Good Leaver during either the 3rd or 4th Performance
Year, any outstanding and unvested PSUs with respect to which the applicable Performance Hurdle for the Performance Year in which
termination occurred has not been met as of the termination shall be eligible to vest if the applicable Performance Hurdle is met
by the end of such Performance Year. For the avoidance of doubt, with respect to PSUs referenced in the preceding sentence, (i)
if the Performance Hurdle is met for the Performance Year of termination, the PSUs eligible to vest in that year shall vest on
a prorated basis by multiplying the eligible PSUs by a ratio equal to the number of days the Grantee was employed by the Company
(or an Affiliate) during the Performance Year divided by 365, (ii) no PSUs shall be eligible for rollover to the next Performance
Year, and (iii) such PSUs shall be deemed vested when, if ever, the applicable Performance Hurdle is met.

 

(c) 
Termination following a Change of Control. With respect to a termination of the Grantee’s employment by the Company without
Cause (other than due to Disability) or due to the Grantee’s resignation with Good Reason (but only to the extent the Grantee
has an employment agreement with the Company or an Affiliate of the Company that defines Good Reason) within one (1) year following
a Change of Control, subject to the Release Requirement, any Time RSUs and PSUs that are outstanding and unvested as of the date
of termination shall become vested when the General Release is in full force and effect (and no longer subject to revocation).

 

    20

     

    

 

(d) 
Definitions.

 

(i) 
“Cause” has the meaning set forth in Grantee’s employment agreement, if any, and otherwise means the Grantee’s
action, or failure to act, during the Grantee’s employment with the Company that is determined to constitute any of the following:
(i) performance of any act or failure to perform any act in bad faith and to the detriment of any Company Entities; (ii) dishonesty,
intentional misconduct or material breach of any agreement with any Company Entity; or (iii) commission of a crime involving dishonesty,
breach of trust, or physical or emotional harm to any person. Prior to any termination for Cause pursuant to each such event listed
in (i) or (ii) above, to the extent such event(s) is capable of being cured by the Grantee, the Company shall give the Grantee
written notice thereof describing in reasonable detail the circumstances constituting Cause and the Grantee shall have the opportunity
to remedy same within thirty (30) days after receiving written notice.

 

(ii) 
“Disability” has the meaning set forth in Grantee’s employment agreement, if any, and otherwise shall mean the
Grantee has been unable to perform the essential functions of the Grantee’s position with the Company, either with or without
a reasonable accommodation, by reason of physical or mental incapacity for a period of six consecutive months, subject to any obligations
or limitations imposed by federal, state or local laws, including any duty to accommodate Grantee under the federal Americans with
Disabilities Act or applicable state law.

 

(iii) 
“General Release” means a general release of claims, including without limitation all employment and termination claims,
if any, in favor of the Company and its affiliates in the form and substance provided by the Company, provided that, if the Grantee
has an employment agreement with the Company that specifies a form of general release, then such general release will be used (as
conformed to include the benefits hereunder, if any) as the General Release.

 

(iv) 
“Good Leaver” means the Grantee’s employment was terminated by the Company without Cause (including if due to
disability), the Grantee died or the Grantee resigned with Good Reason (but only to the extent the Grantee has an employment agreement
with the Company or an Affiliate of the Company that defines Good Reason).

 

(v) 
“Good Reason” has the meaning set forth in Grantee’s employment agreement, if any.

 

(vi) 
“Release Requirement” the Grantee shall not be entitled to receive any benefit described in Section 3(b) unless, in
each case, the Grantee (or the Grantee's legal representative) has executed and delivered to the Company a General Release, which
General Release shall be in full force and effect (and no longer subject to revocation) within sixty (60) calendar days after the
Grantee's termination of employment. To the extent that any benefit subject to the Release Requirement is deferred compensation
under Section 409A that is not otherwise exempt from the application of Section 409A, and if the sixty (60) calendar day period
referenced in the preceding sentence spans two calendar years, then, solely to the extent necessary to avoid the incurrence of
adverse personal tax consequences under Section 409A, the payment of such amount will not occur until the second calendar year.

 

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4. Settlement. During
the first open trading window of the Company following the end of each calendar quarter (i.e., March 31, June 30, September 30,
December 31), the Company shall deliver to the Grantee one (1) share of Stock in settlement of each RSU that became vested during
such calendar quarter, except that, any RSUs that vest on or before December 31, 2021, shall be settled during the first open trading
window of the Company following December 31, 2021, provided that, in no event (i) will an RSU be settled later than March 15 of
the year following the year in which such RSU vested, nor (ii) will the Grantee be permitted, directly or indirectly, to specify
the taxable year of delivery of any RSU subject to this Agreement.

 

5. Delivery
of Stock. Certificates or evidence of book-entry shares representing the Stock issued upon settlement of RSUs pursuant
to Section 4 of this Agreement will be delivered to or otherwise made available to the Grantee (or, at the discretion of the Grantee,
joint in the names of the Grantee and the Grantee’s spouse) or to the Grantee’s nominee at such person’s request. Delivery
of shares of Stock under this Agreement will comply with all applicable laws (including, the requirements of the Exchange Act),
and the applicable requirements of any securities exchange or similar entity.

 

6. Shareholder
Rights. An RSU is not a share of Stock, and thus, the Grantee will have no rights as a stockholder with respect to the
RSUs.  Dividend Equivalents shall accrue on shares underlying the RSUs awarded hereunder and such dividends will be paid to
Grantee upon the vesting of such RSUs.

 

7. Transferability. The
RSUs subject to this Award may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered before
they vest in accordance with Section 2. After such RSUs vest and are settled in accordance with Sections 2 and 4, no sale or disposition
of such shares shall be made in the absence of an effective registration statement under the Exchange Act with respect to such
shares unless an opinion of counsel satisfactory to the Company that such sale or disposition will not constitute a violation of
the Exchange Act or any other applicable securities laws is first obtained.

 

8. Change
in Capital Structure. The terms of this Agreement, including the number of shares of Stock subject to this RSU shall be
adjusted as the Administrator determines is equitably required in the event the Company effects one or more stock dividends, spinoffs,
recapitalizations, stock splits, combinations, exchanges or consolidations of shares or other similar changes in capitalization.

 

9. Withholding.

 

(a) The
Grantee understands that when the RSUs are settled in accordance with Section 4, the Grantee will be obligated to recognize income,
for Federal, state and local income tax purposes, as applicable, in an amount equal to the Fair Market Value of the share of Stock
as of such date, and the Grantee is responsible for all tax obligations that arise in connection with the RSUs.

 

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(b) Whenever
shares of Stock are to be issued upon settlement of the RSUs, the Grantee shall assume sole responsibility for discharging all
tax and other obligations associated therewith. The Company has no duty or obligation to minimize the tax consequences to the Grantee
and will not be liable to the Grantee for any adverse tax consequences arising in connection with this Award. The Grantee agrees
to indemnify the Company against any non-U.S., U.S. federal, state and local withholding taxes for which the Company may be liable
in connection with the Grantee’s acquisition, ownership or disposition of any shares of Stock.

 

(c) In
its sole discretion, the Administrator of the Plan may permit the Grantee to satisfy the Company’s tax withholding obligation
with respect to RSUs settled in Stock by having shares withheld in accordance with Section 16(b) of the Plan. The elections described
in this subsection (c) must be in a form and manner prescribed by the Administrator and may be subject to the prior approval of
the Administrator.

 

10. Compliance
with Section 409A of the Code. It is the intention of the Company that the Award and Plan are intended either to provide compensation
that is exempt from Section 409A of the Code and the rules, regulations and other authorities promulgated thereunder (including
the transition rules thereof) (collectively, “Section 409A”), (by reason of being a short-term deferral) or
that is nonqualified deferred compensation that is compliant in all regards with the requirements of Code Section 409A, and all
provisions of this Agreement will be construed and interpreted in a manner consistent with this intent. If the Grantee is a “Specified
Employee” (within the meaning set forth in Section 409A(a)(2)(B)(i) of the Code) as of the date of the Grantee’s
“separation from service” (within the meaning of Treasury Regulation Section 1.409A-1(h) and without regard to
any alternative definition thereunder), then the issuance of any shares of Stock that would otherwise be made upon the date of
the separation from service or within the first six (6) months thereafter will not be made on the originally scheduled date(s)
and will instead be issued in a lump sum on the earlier of: (i) the fifth business day following the Grantee’s death,
or (ii) the date that is six (6) months and one day after the date of the separation from service, with the balance of
the shares of Stock issued thereafter in accordance with the original vesting and issuance schedule set forth above, but if and
only if such delay in the issuance of the shares of Stock is necessary to avoid the imposition of adverse taxation on the Grantee
in respect of the shares of Stock under Section 409A. Each installment of shares of Stock that vests is intended to constitute
a “separate payment” for purposes of Treasury Regulation Section 1.409A-2(b)(2).

 

12. Conflicts. In
the event of any conflict between the provisions of the Plan as in effect on the Date of Grant and the provisions of this Agreement,
the provisions of the Plan shall govern. All references herein to the Plan mean the Plan as in effect on the date hereof.

 

13. Grantee
Bound by Plan. The Grantee hereby acknowledges that a copy of the Plan has been made available to him or her and agrees
to be bound by all the terms and provisions thereof.

 

14. Binding
Effect. Subject to the limitations stated above and in the Plan, this Agreement shall be binding upon and inure to the
benefit of the successors of the Grantee and any transferee of the Grantee in accordance with Section 7 and the successors of the
Company.

 

15. Governing
Law. This Agreement shall be governed by the laws of the State of Delaware.

 

16. Counterparts.
This Agreement may be executed in counterparts, which shall be deemed originals with the same effect as if both parties had signed
the same document. Any counterpart shall be construed together with any other counterpart and both shall constitute one Agreement.
For the purposes of this Agreement, a facsimile or PDF copy of a signature shall be construed to be an original.

 

[Signatures
appear on following page]

 

    23

     

    

 

IN
WITNESS WHEREOF, the Company has caused its duly authorized officer to execute this Agreement, and the Grantee has placed
his or her signature hereon, effective as of the Date of Grant.

 

	SHIFT TECHNOLOGIES, INC.	 
	 	 	 
	By:	 	 
	 	Signature	 
	 	 	 
	Name: 	 	 
	 	 	 
	Title:	 	 
	 	 	 
	Date:	 	 

 

I hereby accept
this Grant and I agree to be bound by the terms of the Plan and this Grant. I further agree that all of the decisions and interpretations
of the Company with respect thereto shall be final and binding.

 

	GRANTEE:	 	IF GRANTEE'S SPOUSE
	 	 	 	MUST SIGN:*
	 	 	 	 	 
	By:	 	 	By:	 
	 	Signature	 	 	Signature
	 	 	 	 	 
	Name: 	 	 	Name: 	            
	 	Print Name	 	 	Print Name

 

* If the Grantee is married and holds
RSUs jointly with the Grantee's spouse or resides in a community property state, both the Grantee and Grantee’s spouse must
sign this RSU Agreement.  The community property states are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas
and Washington.

 

    24

     

    

 

Exhibit
C

 

Form
of Release

 

[Attached]

 

 

 

 

 

 

 

 

 

 

 

 

 

    25

     

    

 

Release
Agreement

 

This
Release Agreement (the “Agreement”), by and between Shift Platform, Inc. (the “Company”) and Oded Shein
(“You” or “Your”) (the Company and You collectively referred to as the “Parties”) is entered
into and effective as of__________________(the “Effective Date”). You and the Company previously entered into that certain
Employment Agreement, dated as of ________________, as amended from time to time (the “Employment Agreement”).

 

1. Separation
Date; Accrued Obligations. The Parties acknowledge and agree that Your employment with the Company terminated effective
as of _________________ (the “Separation Date”). The Company will pay You all Accrued Obligations (as defined in
the Employment Agreement), as provided in Section 9(b) of the Employment Agreement.

 

2.
 Separation Payments. Provided that You satisfy the conditions of this Agreement, including the return of all Company property,
and do not revoke this Agreement, the Company shall pay [DESCRIBE APPLICABLE BENEFITS] in accordance with Section [ ] of
the Employment Agreement, which together with Sections [15(c), 16, and 17] of the Employment Agreement, are incorporated herein
(the “Separation Payments”). Notwithstanding the foregoing, in the event of a material, uncured breach of this Agreement,
You acknowledge and agree that the Company shall have the right, upon five (5) days’ notice to You, to file a lawsuit against
You for damages.

 

3.
Employee Benefits; Equity Awards. Because You are no longer employed, Your rights to any particular employee benefit shall
be governed by applicable law and the terms and provisions of the Company’s various employee benefit plans and arrangements.
You agree that the treatment of any equity-based compensation awards granted to You by Company under an equity agreement will
be governed by the terms of such awards and such equity agreement as such awards and terms are described in Appendix A, attached
hereto (the “Unreleased Equity Awards”). Notwithstanding anything to the contrary contained herein, this Release shall
not apply to the enforcement of the Unreleased Equity Awards. Following the Separation Date, the Company will not grant You any
equity-based compensation awards.

 

4. Release.
In exchange for the Separation Payments, You release and discharge the Company1  from any and all claims, charges,
or lawsuits of any kind or nature (and will not cause any action or claim to be commenced) based upon facts, transactions, or
omissions that occurred on or before the date You sign this Agreement, arising out of Your employment or the cessation of
Your employment, claims arising out of the Employee Retirement Income Security Act of 1974 (ERISA), 29 U.S.C. §§
1001-1461, claims to stock options, claims to the vesting of stock options, claims arising out of or relating to equity or
other ownership interest in the Company (other than the Unreleased Equity Awards), claims for breach of contract, claims for
tort, negligent hiring, negligent retention, negligent supervision, negligent training, employment discrimination,
retaliation, or harassment, as well as any other statutory or common law claims, at law or in equity, recognized under any
federal, state, or local law. You also release any claims for unpaid back pay, sick pay, vacation pay, expenses, bonuses,
claims to commissions, attorneys’ fees, or any other compensation. You agree that You are not entitled to any
additional payment or benefits from the Company, except as set forth in this Agreement or under an Unreleased Equity Award.
You further agree that You have suffered no harassment, retaliation, employment discrimination, or work- related injury or
illness and that You do not believe that this Agreement is a subterfuge to avoid disclosure of sexual harassment or gender
discrimination allegations or to waive such claims. You acknowledge and represent that You (i) have been fully paid
(including, but not limited to, any overtime to which You are entitled, if any) for hours You worked for the Company, and
(ii) do not claim that the Company violated or denied Your rights under the Fair Labor Standards Act. Notwithstanding the
foregoing, the release of claims set forth in this Section does not waive (x) Your right to receive benefits under the
Company’s 401(k) or other employee benefit plan, if any, that either (a) have accrued or vested prior to the Effective
Date, or (b) are intended, under the terms of such plans, to survive Your separation from the Company, (y) Your rights to be
indemnified under applicable law or Your indemnity agreement or any other indemnification arrangement or D&O insurance
policy applicable to You or (z) Your rights to enforce this Agreement, workers’ compensation claims, claims for
unemployment insurance benefits, or claims that, by law, cannot be waived.

 

 

		1	For
purposes of Sections 4, 5 and 6 of this Agreement, the term “Company” includes the Company, the Company’s parents,
subsidiaries, affiliates, and all related companies, as well as each of their respective current and former officers, directors,
shareholders, members, managers, employees, agents, and any other representatives, any employee benefits plan of the Company,
and any fiduciary of those plans, in each case, in their capacity as such. 

 

    26

     

    

 

5.
ADEA/OWBPA Waiver. By agreeing to this provision, You release and waive any right or claim against the Company1
arising out of Your employment or the termination of Your employment with the Company under the Age Discrimination in Employment
Act, as amended, 29 U.S.C. § 621 et seq. (“ADEA”), and the Older Workers Benefit Protection Act, 29 U.S.C. §
621 et seq. (“OWBPA”) (such release and waiver referred to as the “Waiver”). You understand and agree
that, (i) this Agreement is written in a manner that You understand; (ii) You do not release or waive rights or claims that may
arise after You sign this Agreement; (iii) You waive rights and claims You may have had under the OWBPA and the ADEA, but only
in exchange for payments and/or benefits in addition to anything of value to which You are already entitled; (iv) You are advised
to consult with an attorney before signing this Agreement; (v) You have [twenty- one (21)]/[forty-five (45)] calendar days from
receipt of this Agreement to consider whether to sign it (the “Offer Period”). The Parties agree that the Company
may revoke this offer at any time. However, if You sign before the end of the Offer Period, You acknowledge that Your decision
to do so was knowing, voluntary, and not induced by fraud, misrepresentation, or a threat to withdraw, alter, or provide different
terms prior to the expiration of the Offer Period. You agree that changes or revisions to this Agreement, whether material or
immaterial, do not restart the running of the Offer Period; (vi) You have seven (7) calendar days after signing this Agreement
to revoke this Agreement (the “Revocation Period”). If You revoke, the Agreement shall not be effective or enforceable
and You shall not be entitled to the consideration set forth in this Agreement. To be effective, the revocation must be in writing
and received by [TBD], prior to expiration of the Revocation Period; and (vii) this Waiver shall not become effective or enforceable
until the Revocation Period has expired.

 

6.
Unknown Claims and Section 1542 Waiver. You expressly waive any and all rights that You may have under any state or local
statute, executive order, regulation, common law and/or public policy related to unknown claims, including but not limited to
California Civil Code Section 1542, which provides:

 

A
general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or
her favor at the time of executing the release, and that, if known by him or her, would have materially affected his or her
settlement with the debtor or released party.

 

    27

     

    

 

7.
No Admission of Liability. This Agreement is not an admission of liability by the Company. The Company denies any liability
whatsoever. The Company enters into this Agreement to reach a mutual agreement concerning Your separation from the Company.

 

8.
Restrictive Covenants and Dispute Resolution. You acknowledge and agree that You continue to be subject to the provisions
of Sections 15(c), 16 and 17 of the Employment Agreement, the terms of which survive Your separation from the Company and are
incorporated herein mutatis mutandis.

 

9.
Return of Company Property. You shall immediately return to the Company all of the Company’s property, including,
but not limited to, computers, computer equipment, office equipment, mobile phone, keys, passcards, credit cards, confidential
or proprietary lists (including, but not limited to, customer, supplier, licensor, and client lists), tapes, laptop computer,
electronic storage device, software, computer files, marketing and sales materials, and any other property, record, document,
or piece of equipment belonging to the Company. You shall not (a) retain any copies of the Company’s property, including
any copies existing in electronic form, which are in Your possession, custody, or control, or (b) destroy, delete, or alter any
Company property, including, but not limited to, any files stored electronically, without the Company’s prior written consent.
The obligations contained in this Section shall also apply to any property which belongs to a third party, including, but not
limited to, (i) any entity which is affiliated or related to the Company, or (ii) the Company’s customers, licensors, or
suppliers.

 

10.
Prohibited Post-Employment Activities. You acknowledge and agree that, effective as of the Separation Date: (a) You removed
any reference to the Company as Your current employer from any source You control, either directly or indirectly, including, but
not limited to, any Social Media such as LinkedIn, Facebook, Google+, Twitter and/or Instagram, and (b) You are not permitted
to represent Yourself as currently being employed by the Company to any person or entity, including, but not limited to, on any
Social Media. For purposes of this Section, “Social Media” means any form of electronic communication (such as Web
sites for social networking and micro blogging) through which users create online communities to share information, ideas, personal
messages and other content, such as videos.

 

11.
Entire Agreement. This Agreement, together with the provisions of the Employment Agreement incorporated herein, constitutes
the entire agreement between the Parties. This Agreement supersedes any prior communications, agreements, or understandings, whether
oral or written, between the Parties arising out of or relating to Your employment and the termination of that employment. Other
than the terms of this Agreement, no other representation, promise, or agreement has been made with You to cause You to sign this
Agreement.

 

12. Non-Interference.
Notwithstanding anything to the contrary set forth in this Agreement or in any other agreement between You and the Company,
nothing in this Agreement or in any other agreement shall limit Your ability, or otherwise interfere with Your rights, to (a)
file a charge or complaint with the Equal Employment Opportunity Commission, the National Labor Relations Board, the
Occupational Safety and Health Administration, the Securities and Exchange Commission, or any other federal, state, or local
governmental agency or commission (each a “Government Agency”), (b) communicate with any Government Agency or
otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including providing
documents or other information, without notice to the Company, (c) receive an award for information provided to any
Government Agency, or (d) engage in activity specifically protected by Section 7 of the National Labor Relations Act, or any
other federal or state statute or regulation.

 

    28

     

    

 

13.
Voluntary Agreement. You acknowledge the validity of this Agreement and represent that You have the legal capacity to enter
into this Agreement. You acknowledge and agree You have carefully read the Agreement, know and understand the terms and conditions,
including its final and binding effect, and sign it voluntarily.

 

14.
Execution. This Agreement may be executed in one or more counterparts, including, but not limited to, facsimiles and scanned
images, and it shall not be necessary that the signatures of all Parties hereto be contained on any one counterpart. Each counterpart
shall for all purposes be deemed to be an original, and each counterpart shall constitute this Agreement.

 

14.
Governing Law. THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA
WITHOUT REFERENCE TO PRINCIPLES OF CONFLICTS OF LAWS OF CALIFORNIA OR ANY OTHER JURISDICTION, AND, WHERE APPLICABLE, THE LAWS
OF THE UNITED STATES.

 

If
the terms set forth in this Agreement are acceptable, please initial each page, sign below and return the signed original to the
[TBD], on or before the [21st][45th] day after You receive this Agreement. If the Company does not receive
a signed original on or before the [21st][45th] day after You receive this Agreement, then this offer is
revoked, and You shall not be entitled to the consideration set forth in this Agreement.

 

IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement to be effective as of the Effective Date.

 

	Shift Platform, Inc.	Oded Shein
	 	 
	By: ______________________________________	___________________________________________
	 	 
	Its:  ______________________________________	Date:  ______________________________________
	 	 
	Date:  ______________________________________	 

 

    29

     

    

 

Appendix
A to Release Agreement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    30

     

    

 

Exhibit
D Prior Materials

 

		☐	No
Prior Materials

 

		☐	Prior
Materials include: __________________________

 

 

31Exhibit 4.1

 

	NUMBER	UNITS
	U-	 

 

SEE REVERSE FOR CERTAIN DEFINITIONS

 

CUSIP 349875 203

 

FORUM MERGER IV CORPORATION 

 

UNITS CONSISTING OF ONE SHARE OF CLASS
A COMMON STOCK AND ONE-FOURTH OF ONE REDEEMABLE WARRANT, 

EACH WHOLE WARRANT ENTITLING THE HOLDER
TO PURCHASE ONE SHARE OF CLASS A COMMON STOCK

 

THIS CERTIFIES
THAT
                                   
is the owner of                       Units.

 

Each Unit (“Unit”)
consists of one (1) share of Class A common stock, par value $0.0001 per share (“Common Stock”), of Forum
Merger IV Corporation, a Delaware corporation (the “Company”), and one-fourth of one redeemable warrant
(the “Warrant”). Each whole Warrant entitles the holder to purchase one (1) share (subject to adjustment)
of Common Stock for $11.50 per share (subject to adjustment). Only whole Warrants are exercisable. Each whole Warrant will become
exercisable thirty (30) days after the Company’s completion of a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or other similar business combination with one or more businesses (each a “Business Combination”),
and will expire unless exercised before 5:00 p.m., New York City Time, on the date that is five (5) years after the date on which
the Company completes its initial Business Combination, or earlier upon redemption or liquidation (the “Expiration
Date”). The Common Stock and Warrants comprising the Units represented by this certificate are not transferable separately
prior to           , 2021, unless Jefferies LLC elects to allow separate trading earlier, subject to the Company’s filing of a Current
Report on Form 8-K with the Securities and Exchange Commission containing an audited balance sheet reflecting the Company’s
receipt of the gross proceeds of the Company’s initial public offering and issuing a press release announcing when separate
trading will begin. No fractional Warrants will be issued upon separation of the Units. The terms of the Warrants are governed
by a Warrant Agreement, dated as of         , 2021 (the “Warrant Agreement”), between the Company and Continental
Stock Transfer & Trust Company, as Warrant Agent, and are subject to the terms and provisions contained therein, all of which
terms and provisions the holder of this certificate consents to by acceptance hereof. Copies of the Warrant Agreement are on file
at the office of the Warrant Agent at 1 State Street, 30th Floor, New York, New York 10004, and are available to any Warrant holder
on written request and without cost.

 

This certificate is not valid
unless countersigned by the Transfer Agent and registered by the Registrar of the Company.

 

This certificate shall be governed
by and construed in accordance with the internal laws of the State of New York.

 

Witness the facsimile
signature of a duly authorized signatory of the Company.

 

	 	 	 
	Authorized Signatory	 	Transfer Agent

 

     

     

    

 

Forum Merger IV Corporation

 

The Company will furnish
without charge to each unitholder who so requests, a statement of the powers, designations, preferences and relative, participating,
optional or other special rights of each class of stock or series thereof of the Company and the qualifications, limitations, or
restrictions of such preferences and/or rights.

 

The following abbreviations,
when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according
to applicable laws or regulations:

 

	TEN COM	— 	as tenants in common	 	UNIF GIFT MIN ACT	— 	___________ Custodian ___________
	 	 	 	 	 	 	      (Cust)                               (Minor)
	TEN ENT	—	as tenants by the entireties	 	 	 	 
	 	 	 	 	 	 	Under Uniform Gifts to Minors Act
	JT TEN	—	as joint tenants with right of survivorship and not as tenants in common	 	 	 	
        _____________________________

        (State)

 

Additional abbreviations may also be used
though not in the above list.

 

For value received, hereby sell, assign
and transfer unto

 

(PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE)

 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS,
INCLUDING ZIP CODE, OF ASSIGNEE)

 

            
     Units represented by the within certificate, and do hereby irrevocably constitute and appoint

 Attorney to transfer the said Units on the
books of the within named Company with full power of substitution in the premises.

 

Dated 

 

	 	 	 
	 	Notice: 	The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.

 

	Signature(s) Guaranteed:	 
	 	 
	 	 
	THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED (OR ANY SUCCESSOR RULE)).	 

 

As more fully described
in, and subject to the terms and conditions described in, the Company’s final prospectus for its initial public offering
dated       , 2021, the holder(s) of this certificate shall be entitled to receive a pro rata portion
of certain funds held in the trust account established in connection with the Company’s initial public offering only in the
event that (i) the Company redeems the shares of Common Stock sold in the Company’s initial public offering and liquidates
because it does not consummate an initial business combination by the date set forth (the “Last Date”) in the Company’s
Amended and Restated Certificate of Incorporation, as the same may be amended from time to time (the “Charter”), (ii)
the Company redeems the shares of Common Stock sold in its initial public offering properly submitted in connection with a stockholder
vote to amend the Charter to modify the substance or timing of the Company’s obligation to redeem 100% of the Common Stock
if it does not consummate an initial business combination by the Last Date or with respect to any other material provisions relating
to stockholders’ rights or pre-initial business combination activity, or (iii) if the holder(s) seek(s) to redeem for cash
his, her or its respective shares of Common Stock in connection with a tender offer (or proxy solicitation, solely in the event
the Company seeks stockholder approval of the proposed initial business combination) setting forth the details of a proposed initial
business combination. In no other circumstances shall the holder(s) have any right or interest of any kind in or to the trust account.

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