Document:

Exhibit
10.4

 

Executed
September 9, 2020 amended 11/25/20

 

Cheryl
Hanrehan

 

CHanrehan@gmail.com

 

Dear
Cheryl:

 

On
behalf of EzFill Holdings, Inc. (the “Company”), I am pleased to offer you the position of Chief Operations Officer
(“COO”). As COO you will be reporting to the Company’s Chief Executive Officer and working remotely.

 

Base
Salary. Your annual-base salary will be $18,750.00 per month ($225,000 annually), less applicable taxes, deductions, and withholdings,
paid monthly and subject to annual review (“Base Salary”). You will be paid on the Company’s regularly scheduled
payday.

 

Signing
Bonus. As added consideration for you joining the Company, the Company will issue you a signing bonus of $100,000 worth of
the Company’s common stock (the “Signing Shares”). The amount of Signing Shares which you receive will
be based on a share price of $1.00 per share. The Signing Shares will fully vest upon completion of the Company’s initial
public offering and listing on a US public Exchange.

 

Annual
Performance Cash Bonus. Upon meeting pre-determined periodic Key Performance Indicators (“KPIs”) every year, you
will be eligible for an annual cash bonus of 30% of your base salary. Your KPI’s will be set by the mutual agreement of
the Company and yourself within 30 days from your Employment Start Date (the “Cash Performance Bonus”). The Failure
to establish KPI’s which is not the fault of the Company will exclude you from eligibility for the Performance Bonus. To
qualify for the Cash Performance Bonus, you must meet the KPI’s.

 

Equity
Awards. As a “C” level executive of the Company, you will be entitled to receive equity awards under the Company’s
Incentive Plan, (the “Incentive Plan”), which should be in place shortly after your Employment Start Date. The aggregate
annual award value under the Incentive Plan will be equal to 40% of your Base Salary, as adjusted from time to time, (the “Grant”).
Twenty-Five percent (25%) of such Grant will be in the form of Restricted Common Stock (the “RCSs”) and the remaining
Seventy-Five percent (75%) of such Grant will be in the form of options to purchase the Company’s common stock (the “Stock
Options”). The number of Stock Options shall be calculated in accordance with the Company’s option valuation practices.
The RCSs shall vest on the first anniversary of the day they were granted, the RCS grant will include a cash payment upon vesting
to cover expected ordinary income tax charges and will be calculated at the highest individual personal income tax rate (“Gross
Up”). The Stock Options shall vest in equal one-third (1/3) increments on each anniversary of the day they were granted.
All Equity Awards shall be granted to you, provided that: (1) at the end of each applicable vesting date, you are still employed
by the Company; and (2) provided that you satisfy the KPIs and the other performance criteria established by the Incentive Plan.
All Stock Options that will be granted to you shall expire 5 years following their vesting.

 

Benefits.
The Company currently does not have any benefit plans in place. You will be able to participate in all of the Company’s
benefit plans, at no cost to you, once they become available.

 

Business
Expense Reimbursement. Upon presentation of appropriate documentation in accordance with the Company’s expense reimbursement
policies, the Company will reimburse you for the reasonable business expenses you incur in connection with your employment.

 

    	 

     

    

 

Paid
Time Off. You will accrue Paid Time Off, which you will be allowed to use for absences due to illness, vacation, or personal
need, at a rate of 200 hours, or twenty (25) days (based upon an eight-hour workday), per year.

 

Term
and Termination. The initial term shall be two (2) years commencing on your Employment Start Date (the “Term”).
On the second anniversary, your employment will be renewed automatically for an additional one-year term, unless the Company provides
you with a notice of non-renewal at least 30 days prior to the end of the Term.

 

Termination
by the Company for Cause. You may be terminated by the Company immediately and without notice for “Cause.”
“Cause” shall mean: (i) your willful material misconduct; or (ii) your willful failure to materially perform your
responsibilities to the Company. “Cause” shall be determined by the Company after conducting a meeting where you can
be heard on the topic.

 

Termination
Without Cause: The Company may terminate your employment without Cause not earlier than 3 months following your Employment
Start Date. Upon Termination Without Cause the Company will (i) continue payment of your Base Salary for additional number of
months equal to the number of months of your actual employment prior to the termination, capped at 3 months maximum payment. In
all other types of terminations or resignation on your part, all further vesting of your outstanding equity awards or bonuses,
as well as all payments of compensation by the Company to you hereunder will terminate immediately (except as to amounts already
earned). The foregoing is your sole entitlement to severance payments and benefits in connection with the termination of your
employment.

 

Death
and Disability. In the event of your death during the Term, your employment shall terminate immediately. If, during
the Term you shall suffer a “Disability” within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986,
the Company may terminate your employment. In the event your employment is terminated due to death or Disability, you (or your
estate in case of death) shall be eligible to receive the separation benefits (in lieu of any severance payments): all unpaid
Base Salary amounts, and all outstanding and fully vested stock options and other equity awards. 

 

Confidentiality
and No Conflict with Prior Agreements. As an employee of the Company, it is likely that you will become knowledgeable about
confidential and/or proprietary information related to the operations, products, and services of the Company and its clients.
Similarly, you may have confidential or proprietary information from prior employers that must not be used or disclosed to anyone
at the Company. By accepting this offer you are certifying that you will keep the Company’s and your prior employer’s
information confidential. In addition, the Company requests that you comply with any existing and/or continuing contractual obligations
that you may have with your former employers. By signing this offer letter, you represent that your employment with the Company
shall not breach any agreement you have with any third party.

 

Obligations.
During your employment, you shall devote your full business efforts and time to the Company. However, this obligation shall
not preclude you from engaging in appropriate civic, charitable or religious activities, or, with the consent of the Board, from
serving on the boards of directors of companies that are not competitors to the Company, as long as these activities do not materially
interfere or conflict with your responsibilities to, or your ability to perform your duties of employment at, the Company. Any
outside activities must be in compliance with and if required, approved by the Company’s Corporate Governance Guidelines.

 

Non-competition.
In addition to the obligations specified in the Proprietary Agreement, you agree that during your employment with the Company
you will not engage in, or have any direct or indirect interest in, any person, firm, corporation, or business (whether as an
employee, officer, director, agent, security holder, creditor, consultant, partner or otherwise) that is competitive with the
business of the Company, including, without limitation, planning, developing, marketing, selling, and providing services relating
to mobile gas delivery.

 

Background
Check. You represent that all information provided to the Company or its agents with regard to your background is true and
correct.

 

We
look forward to you joining the Company. Please indicate your acceptance of this offer by signing below and returning an executed
copy of this offer to me at your earliest convenience.

 

	Sincerely,	 
	 	 
	 	 
	Michael
    McConnell	 
	CEO	 

 

    	2Exhibit 10.5

 

BOARD
MEMBER LETTER OF AGREEMENT

 

Dear
_________________,

 

Based
on our discussions, I am very pleased to offer you a position as member of the Board of Directors (the “Board”)
of EzFill Holdings, Inc. (the “Company”), pursuant to the terms of this offer letter (the “Agreement”).

 

The
term of your Board service (the “Services”) shall commence upon the Effective Date. Your offered position is
due in part to you being an “Independent Director” (as defined by Nasdaq Listing Rule 5605(a)(2)) in relation to the
Company. Upon: (i) you choosing to accept this position; (ii) the Board voting to approve your appointment; and
(iii) the close of an initial public offering of the Company’s stock and listing on a U.S. securities exchange (the
“Conditions Precedent”), you shall serve as a Board member upon the terms and conditions set forth in this
Agreement. The date on which all three of the above-mentioned conditions are met, shall constitute the “Effective Date”
of this Agreement.

 

1.
Board Services. As a member of the Board, your Services shall include: (i) using your reasonable best efforts
to provide financial and strategic advice to the Company; (ii) attending and participating in such number of meetings of
the Board as regularly or specially called, but in any case, no fewer than four (4) meetings per year. Board meetings may be held
via teleconference, videoconference or in person; (iii) consulting with other Board members regularly and as necessary
via telephone, electronic mail or other forms of correspondence; (iv) participating in at least four (4) conference calls
for operational purposes with the Company’s management in any year; and (v) rendering such other services as may
be reasonably and customarily requested of a member of a board of directors of a similarly situated company.

 

2.
Board Start Date. The Effective Date shall constitute your starting date as a Board member. Your term shall continue
until its expiration at the Company’s next annual meeting of shareholders or until your earlier resignation or removal.

 

3.
Company Policies. You will comply with all laws and regulations applicable to the Company and all policies adopted
by the Company. The Company has adopted a number of policies that regulate several areas of operations, behavior and ethics, including,
but not limited to, the Insider Trading Policy, Anti-Fraud Policy, Conflict of Interest Policy, Discrimination Harassment, Bullying
& Retaliation Prevention Policy. You agree to comply with all Company policies and to be bound by the Company’s Code
of Business Conduct and Ethics (the “Code”). All policies and the Code shall be made available for your review at
any time upon request.

 

4.
Committees. You will join as a member of the Company’s _________________ committee(s) and shall serve on the
Committees at the discretion of the Board.

 

5.
Compensation. You will receive such compensation as is approved by the Company’s compensation committee from
time to time. The current board compensation structure is attached to this Agreement as Schedule I. Board compensation may be
modified from time to time as determined by the Company’s compensation committee. Compensation for your services as a board
member will begin on the Effective Date

 

5.
Lockup. You hereby agree that you will not offer, pledge, sell, contract to sell, hypothecate, lend, transfer or
otherwise dispose of the Shares or any other shares of the Company’s common stock you receive from the Company from the
date you receive such shares through the six-month anniversary of the receipt of the shares (the “Lockup Period”).
Following the expiration of the Lockup Period, you shall have the right, in the aggregate, to sell, dispose of or otherwise transfer
the shares of the Company’s common stock that you own, without
restriction, up to five percent (5%) of the total daily trading volume of the Company’s common stock. Until you no longer
own any of the Company’s securities, within five (5) business days of any sale, transfer or other transaction made by you
with regard to the Company’s securities, you shall deliver to the Company a written statement detailing (i) the sale,
transfer or other transaction giving rise to such written statement; and (ii) your current holdings of the Company’s
securities.

 

    	 

     

    

 

6.
Permitted Transfers. Notwithstanding the foregoing restrictions on transfer, you may, at any time and from time
to time, transfer the Company’s securities that you own: (i) as bona fide gifts or transfers by will or intestacy,
(ii) to any trust for your direct or indirect benefit or your immediate family, provided that any such transfer shall not
involve a disposition for value, (iii) to a partnership which is the general partner of a partnership of which you are
a general partner, or (iv) as a gift of to an organization exempt from taxation under Section 501 (c)(3) of the Internal
Revenue Code of 1986, as amended, provided that, in the case of any gift or transfer described in clauses (i), (ii), (iii) or
(iv), each donee or transferee agrees in writing to be bound by the terms and conditions contained herein in the same manner as
such terms and conditions apply to you so that in the aggregate, no more than the number of the Company’s securities allowable
under this Agreement may be transferred on a given day, except in accordance with the terms hereof. For purposes hereof, “immediate
family” means any relationship by blood, marriage or adoption, not more remote than first cousin.

 

7.
Ownership. Until you have sold the securities in question, you shall retain all rights of ownership in the securities,
including, without limitation, voting rights and the right to receive any dividends that may be declared in respect thereof. The
Company is hereby authorized to disclose the existence of this Agreement to its transfer agent and such transfer agent shall only
release shares in accordance with the limitations contained herein. The Company and its transfer agent are hereby authorized to
decline to make any transfer of the Company’s securities if such transfer would constitute a violation or breach of this
Agreement.

 

8.
Expenses. The Company agrees to reimburse all of your travel and other reasonable documented expenses relating to
your attendance at meetings of the Board. In addition, the Company agrees to reimburse you for reasonable out of pocket expenses
that you incur in connection with the performance of your duties as a member of the Board. The Company will only reimburse expenses
for which you provide receipts.

 

9.
Indemnification. You will receive full indemnification as a member of the Board to the maximum extent extended to
the other Board members generally, as set forth in the Company’s Certificate of Incorporation, as amended, and bylaws.

 

10.
D&O Insurance. As a director, you will be covered under the Company’s Director and Officer Insurance Policy.
A copy of this policy will be provided to you once it is in place.

 

11.
Service for Others, Conflict of Interest. You will be free to represent or perform services for other persons during
the term of this Agreement. However, you will not engage in any activity that creates an actual or perceived conflict of interest
with the Company, regardless of whether such activity is prohibited by Company’s conflict of interest guidelines or this
Agreement, and you agree to notify the Board before engaging in any activity that could reasonably be assumed to create a potential
conflict of interest with the Company. Notwithstanding the above, you will not engage in any activity that is in direct competition
with the Company or serve in any capacity (including, but not limited to, as an employee, consultant, advisor or director) in
any company or entity that competes directly or indirectly with the Company, as reasonably determined by a majority of the Company’s
disinterested board members, without the approval of the Board.

 

12.
No Assignment. Because of the personal nature of the services to be rendered by you, this Agreement may not be assigned
by you without the prior written consent of the majority of the other Board members.

 

13.
Confidential Information. You hereby represent and agree as follows:

 

	 	a.	 For
    purposes of this Agreement, the term “Confidential Information” means: (i) any information which the Company
    possesses that has been created, discovered or developed by or for the Company, and which has or could have commercial value
    or utility in the business in which the Company is engaged; (ii) any information that is related to the business of
    the Company and is generally not known by non-Company personnel; or (iii) by way of illustration, but not limitation,
    Confidential Information includes trade secrets and any information concerning products, processes, formulas, designs, inventions
    (whether or not patentable or registrable under copyright or similar laws, and whether or not reduced to practice), discoveries,
    concepts, ideas, improvements, techniques, methods, research, development and test results, specifications, data, know-how,
    software, formats, marketing plans, and analyses, business plans and analyses, strategies, forecasts, customer and supplier
    identities, characteristics and agreements.

 

    	 

    	 

    

 

	 	 	Notwithstanding
    the foregoing, the term “Confidential Information” shall not include: (i) any information which becomes
    generally available to the public other than because of a breach of the confidentiality portions of this Agreement, or any
    other agreement requiring confidentiality between the Company and you; (ii) information received from a third party
    in rightful possession of such information who is not restricted from disclosing such information; and (iii) information
    known by you prior to receipt of such information from the Company, which prior knowledge can be documented.
	 	 	 
	 	b.	You
    agree that, without the express written consent of the Company, you will not remove from the Company’s premises, any
    notes, formulas, programs, data, records, machines or any other documents or items which in any manner contain or constitute
    Confidential Information, nor will you make reproductions or copies of same. In the event you receive any such documents or
    items by personal delivery from any duly designated or authorized personnel of the Company, you shall be deemed
    to have received the express written consent of the Company. In the event that you receive any such documents or items, other
    than through personal delivery as described in the preceding sentence, you agree to inform the Company promptly of your possession
    of such documents or items. You shall promptly return any such documents or items, along with any reproductions or copies
    to the Company upon the Company’s demand, upon termination of this Agreement, or upon your termination or Resignation,
    as defined herein.
	 	 	 
	 	c.	You
    agree that you will hold in trust and confidence all Confidential Information and will not disclose to others, directly or
    indirectly, any Confidential Information or anything relating to such information without the prior written consent of the
    Company, except as maybe necessary in the course of your business relationship with the Company. You further agree that you
    will not use any Confidential Information without the prior written consent of the Company, except as may be necessary in
    the course of your business relationship with the Company, and that the provisions of this paragraph shall survive termination
    of this Agreement.

 

14.
Board Termination and Resignation. You may be removed for any or no reason by a vote of the Company’s stockholders
in accordance with the Company’s bylaws and all applicable law. Your membership on a Board committee may be terminated for
any or no reason at any meeting of the Board or by written consent of a majority of the Board members at any time. You may also
terminate your membership on the Board or on a committee for any or no reason by delivering your written notice of resignation
to the Company (“Resignation”), and such Resignation shall be effective upon the time specified therein or,
if no time is specified, upon receipt of the notice of resignation by the Company. Upon the effective date of the termination
or Resignation, your right to compensation hereunder will terminate subject to the Company’s obligations to pay you any
cash compensation (or its equivalent value in Common Stock) that you have already earned and to reimburse you for approved expenses
already incurred in connection with your performance of your duties as of the effective date of such termination or Resignation.

 

15.
Governing Law and Jurisdiction. All questions with respect to the construction and/or enforcement of this Agreement,
and the rights and obligations of the parties hereunder, shall be determined in accordance with the law of the State of Florida
applicable to agreements made and to be performed entirely in the State of Florida. Any claim, suit or proceedings between you
and the Company (and its affiliates, shareholders, directors, officers, employees, members, agents, successors, attorneys, and
assigns) relating to this Agreement and/or your Service shall be brought exclusively in either the United States District Court
for the State of Florida or in a Florida state court and that the parties will submit to the jurisdiction of such court.

 

16.
Commitment to Join the Board. Notwithstanding the Effective Date of this Agreement, your execution of this Agreement
constitutes a binding commitment by you to join the Company’s board and upon fulfillment of the Conditions Precedent your
board membership and responsibilities will begin.

 

17.
Entire Agreement, Amendment, Waiver, Counterparts. This Agreement expresses the entire understanding with respect
to the subject matter hereof and supersedes and terminates any prior oral or written agreements with respect to the subject matter
hereof. Any term of this agreement may be amended and observance of any term of this Agreement may be waived only with the written
consent of the parties hereto. Waiver of any term or condition of this Agreement by any party shall not be construed as a waiver
of any subsequent breach or failure of the same term or condition or waiver of any other term or condition of this Agreement.
The failure of any party at any time to require performance by any other party of any provision of this Agreement shall not affect
the right of any such party to require future performance of such provision or any other provision of this Agreement. This Agreement
may be executed in separate counterparts each of which will be an original and all of which taken together will constitute one
and the same agreement. and may be executed using facsimiles of signatures, and a facsimile of a signature shall be deemed to
be the same, and equally enforceable, as an original of such signature.

 

This
Agreement sets forth the terms of your Services as a member of the Board. Nothing in this Agreement should be construed as an
offer of employment. If the foregoing terms are agreeable, please indicate your acceptance by signing in the space provided below
and returning this Agreement to the Company.

 

Very
truly yours,

 

EzFill
Holdings, Inc.

 

Accepted
and Agreed:

 

	Signature:	 	 
	 	 	 
	Name:
    	 	 
	 	 	 
	Date:

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