Document:

Employment Agreement of Susan Weisman

 EXHIBIT 10.37 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (the “Agreement”) is dated
as of September 1, 2004, between Coach Industries Group, Inc., a Nevada corporation (the “Company”) and Susan Weisman, (the “Executive”). 
 W I T N E S S E T H: 
 A. WHEREAS, the Company has employed the Executive
on an ongoing basis and the Company wants to formalize the relationship. 
 B. WHEREAS, the parties desire for the Executive to act as Chief
Financial Officer of Coach Industries Group, Inc. commencing the date hereof and during the term hereof. 
 C. WHEREAS, the parties desire to
execute and deliver this Agreement to provide for the continued employment of Executive by the Company. 
 NOW, THEREFORE, in consideration
of the foregoing premises and for other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties agree as follows: 
 AGREEMENT: 
 1. Engagement. The Company hereby engages the Executive and the Executive
hereby accepts such engagement upon the terms and conditions hereinafter set forth. 
 2. Term. This Agreement shall commence on the
date hereof (the “Commencement Date”), and shall remain in effect for a period of five (5) years thereafter (the “Term”). This Agreement shall also terminate at such time as the Company, or the Executive, gives written notice of
termination of this Agreement pursuant to Section 13 of this Agreement. Unless otherwise notified by the Executive the contract will be automatically renewed for a new term under the same Terms and Conditions of this Agreement. 
 3. Duties. The Company hereby engages the Executive to serve as the Chief Financial Officer (CFO) of the Company and, as such, she shall perform
all duties commonly incident to the Chief Financial Officer respectively, including such additional duties not inconsistent with such position as the Board of Directors of the Company (the “Board”) shall prescribe from time to time.

 4. Performance of Duties. During the term of this Agreement, the Executive shall devote her best efforts, ability and attention to
the business of the Company. 
 Page 1 of 9 of Employment Agreement 

 5. Compensation. 
 A. Salary. For all services rendered by the Executive under this Agreement as Chief Financial Officer of the Company, the Company shall pay the Executive Two Hundred Twenty Five Thousand ($225,000) (the
“Base Salary”) . Annual salary increases will be at the discretion of the Compensation Committee. At the option of the Executive, the salary may be taken in cash or in the common stock of the company. The Executive’s Base Salary shall
be payable within the established payroll cycle for the Company’s salaried officers or employees. Salary payments shall be subject to federal withholding and other applicable payroll deductions and taxes. The Executive has agreed to defer a
portion of her compensation until such time as the Board of Directors determines the Company has sufficient assets to repay the Executive. 
 B. Options The Company shall grant to the Executive options to purchase shares of the Company’s common stock as determined by the Company’s Board of Directors and will be identified in the Employee Stock Option Plan (ESOP).

 C. Benefits. The Executive shall be eligible to participate in all group insurance plans of the Company, and other existing or new
perquisites or benefits offered to executive management of the Company. 
 D. Bonus. The Executive shall be eligible to receive a
bonus as determined by the Company’s Board of Directors. 
 E. Legal Assistance. The Executive shall be eligible to receive
payment for legal services by the Company for any action brought against the Executive, individually or as a representative of the Company, relating to the Executive performing any and all duties in support of the Company. 
 F. Automobile. The Executive shall be provided an Automobile Allowance of $1,200 per month. 
 G. Life Insurance. The Executive shall be provided by the Company a Life Insurance Policy representing three (3) times the annual salary of the
Executive. 
 H. Disability Insurance. The Executive shall be provided a long-term disability insurance policy at the expense of the
Company covering no less than 60% of the annual salary of the Executive. The policy will provide for coverage over the term of the disability. 
 I. Tax Preparation Assistance. The Executive shall be provided with reimbursement for all tax preparation fees incurred for any and all Federal and/or state tax reporting during the term of the Agreement. 
 J. Estate Planning. The Executive shall be provided reimbursement for any and all Estate Planning fees incurred during the term of the Agreement

 6. Reimbursement of Expenses. The Company shall reimburse the Executive for all reasonable and necessary expenses incurred in
carrying out her duties, including maintenance of Certified Public Accountant licensing and association membership, continuing education requirements and educational seminars necessary to meet the requirements of her 
 Page 2 of 9 of Employment Agreement 

 position as Chief Financial Officer and as required and under this Agreement upon presentation by the Executive to the
Company of appropriate documentation indicating the amount and purpose for such expense. 
 7. Vacation. Executive shall be entitled
to Four (4) weeks vacation during each year of the Term. If the Executive elects not to take the vacation the Company will pay the Executive at the salary level in effect during the time the vacation is due 
 8. Agreement Not to Disclose Trade Secrets or Confidential Information. During the term of this Agreement and after its termination, the Executive
shall not disclose or utilize any trade secrets, confidential information, or other proprietary information acquired by the Executive during the course of her employment with the Company, its successors or assigns, or any of its affiliates
(collectively, the “Company Affiliates”). As used herein, “trade secret” means the whole or any portion or phase of any formula, pattern, device, combination of devices, source-code of any proprietary software, or compilation of
any scientific, technical or commercial information, including any design, list of suppliers, list of customers or improvement thereof, as well as pricing information or methodology, contractual arrangements with vendors or suppliers, business
development plans or activities, or financial information of the Company or any of the Company Affiliates that is for use, or is used, in the operation of the Company or any of the Company Affiliates’ businesses that is not commonly known by or
available to the public and that derives economic value from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use and is the subject of efforts
that are reasonable under the circumstances to maintain its secrecy. The Executive agrees to return to the Company any and all such trade secrets, confidential information or other proprietary information immediately upon the termination of this
Agreement. 
 9. Non-Solicitation of Customers and Suppliers. Executive agrees that during her employment hereunder, he shall not,
whether as an individual or sole proprietor, or as a principal, agent, officer, director, employer, employee, consultant, independent contractor, partner or shareholder of any firm, corporation or other entity or group or otherwise, directly or
indirectly, solicit the trade or business of, or trade, or conduct business with, any customer, prospective customer, supplier, or prospective supplier of the Company for any purpose other than for the benefit of the Company. Executive further
agrees that for two (2) years following termination of her employment hereunder for any reason, Executive shall not, directly or indirectly, solicit the trade or business of, or trade, or conduct business with any customers or suppliers, or
prospective customers or suppliers, of the Company. 
 10. Death or Disability. 
 A. In the event of the Executive’s death during the term of this Agreement, this Agreement and the Executive’s future Base Salary, incentive
compensation and benefits shall automatically be terminated. In such event, the Company shall pay severance to the Executive’s estate (i) any unpaid Base Salary; and (ii) all accrued but unpaid allowances and expense reimbursements. 

Page 3 of 9 of Employment Agreement 

 B. If the Executive becomes unable to perform her employment duties during the term of this Agreement
because of the “disability” of the Executive, the Company may terminate this Agreement and the Executive’s employment hereunder. In such event, the Company shall pay to the Executive (i) any unpaid Base Salary; and (ii) all accrued
but unpaid allowances and expense reimbursements. For purposes of this provision, the term disability shall mean the Executive is unable to perform her material duties as an employee for the Company or any of the Company Affiliates, due to mental or
physical illness or injury, for a period of at least one hundred (180) days, in the opinion of a qualified physician selected mutually by the Company and the Executive. 
 13. Termination by the Company or the Executive. 
 A. Termination by the Company for Cause. The
Company may terminate this Agreement and the Executive’s employment hereunder “for cause” at any time. As used herein, for “cause” shall mean any one of the following: 
  

	 	(1)	The willful breach or intentional neglect by the Executive of her job duties and responsibilities; 

  

	 	(2)	Conviction of any felony: 

  

	 	(3)	Commission of an act of fraud, embezzlement or material misappropriation against the Company; or 

  

	 	(4)	A material breach of this Agreement by the Executive. 

 B.
In the event the Company terminates the Executive’s employment for cause, the Executive’s Base Salary and benefits shall automatically terminate as of the effective date of such termination and the Company shall pay to the Executive (i)
any unpaid Base Salary through the date of termination; and (ii) all accrued but unpaid allowances and expense reimbursements, and the Executive shall not be entitled to receive any other compensation or severance allowance, including any incentive
compensation earned after termination, under this Agreement. In addition, all options received and not exercised shall be cancelled and the Executive shall not be entitled to any options hereunder. 
 With respect to matters set forth in subsections (1), (3), (3) and (4) above, the Company shall give prompt notice to the Executive if it believes
grounds for termination under any of such provisions exist, and the Executive shall have a reasonable period of time (not to exceed ten business days, to respond and to cure any such grounds for “cause” as may be alleged or to reply to any
such claims or charges. Termination under such provisions shall be warranted only after the Board of Directors of the Company has determined, in good faith that such “cause” exists after having afforded the Executive the opportunity to
respond or to cure as set forth above. 
 Page 4 of 9 of Employment Agreement 

 C. Termination by the Executive Without Good Reason. The Executive may terminate this Agreement
and her employment with the Company without “good reason” (as defined below) upon 60 days’ prior written notice to the Company. In such a case, the Executive may be required to perform her business duties and shall be paid her regular
salary up to the date of the termination. At the option of the Company, the Company may require the Executive to depart from the Company upon receiving said 60 days’ notice from the Executive of the termination of this Agreement. In such event,
the Company shall pay to the Executive all outstanding compensation due to the Executive for the term of the Agreement 
 D. Termination
by the Company Without Cause or by the Executive for Good Reason. The Company may terminate this Agreement and the Executive’s employment without cause at any time upon 30 days’ prior written notice to the Executive. The Executive
shall have the right to terminate this Agreement at any time for “good reason.” 
 As used herein, “good reason” shall
mean the occurrence of any of the following without the Executive’s prior written consent: 
 (i) the assignment to the Executive of
duties and responsibilities that are inconsistent, in a material and adverse respect, with the scope of the duties and responsibilities usually vested in similarly situated executives; 
 (ii) a material reduction in the benefits payable to the Executive; 
 (iii) a change in control of the Company such that one entity (directly or through affiliates) purchases control of over 50% of the Company’s common stock and does not agree, prior to the change of control, to
assume the terms and conditions of this Agreement; 
 The Company shall pay to the Executive on the date of termination without cause or for
good reason (i) a severance allowance of the remainder of the Base Salary through the end of the Term at the then-effective rate; (ii) an additional severance allowance of Five Hundred Thousand (500,000) shares of Common Stock of the Company (and
the Company herby agrees to increase the authorized shares of common stock of the Company if necessary to satisfy this provision) or an immediate purchase of the Executive’s shares of common stock, including the severance share issued
hereunder, as the case may be; and (iii) all accrued but unpaid allowances and expense reimbursements. All options granted hereunder shall vest immediately. 
 14. Indemnification. The Executive shall be entitled to indemnification from the Company to the fullest extent permitted under the Company’s then current Articles of Incorporation and Bylaws and under the
law of the jurisdiction of the Company’s incorporation as may be in effect from time to time. 
 15. Notices. All notices,
requests, demands and other communications provided for in this Agreement shall be in writing. Any notice, request, demand, claim or other communication hereunder shall be deemed duly given if it is sent by registered or certified mail, return
receipt requested, postage prepaid, and addressed to the intended recipient as set forth below: 
  

					
		 	To the Executive:	 	  

		 		 	  

		 		 	  

					
			
		 	To the Company:	 	  

		 		 	  

		 		 	  

			
		 	With Copy to:	 	Joseph I. Emas, Esq.
		 		 	1224 Washington Avenue
		 		 	Miami Beach, Florida 33139

 Page 5 of 9 of Employment Agreement 
 Any party may send any notice, request, demand, claim or other communication hereunder to the intended recipient at the address set forth above using any
other means (including personal delivery, expedited courier, messenger service, facsimile, ordinary mail or electronic mail), but no such notice, request, demand, claim or other communication shall be deemed to have been duly given unless and until
it actually is received or refused by the intended recipient. Any party may change the address to which notices, requests, demands, claims and other communications hereunder are to be delivered by giving the other party notice in the manner herein
set forth. 
 16. Assignment. Neither this Agreement nor any of the parties’ rights and obligations hereunder may be assigned by
a party without the prior written consent of the other party hereto. 
 17. Arbitration. 
 A. Any controversy or claim arising out of or relating to this Agreement, the employment relationship between the Executive and the Company, or the
termination thereof, including the arbitrability of any controversy or claim, which cannot be resolved amicably after a reasonable attempt to negotiate such a resolution shall be submitted to arbitration by the American Arbitration Association in
accordance with its Commercial Dispute Resolution Procedures and Rules, as such rules may be amended from time to time, and at its office in Florida. The award of the arbitrator shall be final and binding upon the parties, and judgment may be
entered with respect to such award in any court of competent jurisdiction. Any arbitration under this Arbitration Agreement shall be governed by and subject to the confidentiality restrictions set herein. The Executive acknowledges reading, prior to
the signing of this Agreement, the Commercial Dispute Resolution Procedures and Rules of the American Arbitration Association, which are available via the internet at the site of the American Arbitration Association at http://www.adr.org.
Notwithstanding the foregoing, any controversy or claim arising out of or relating to any claim by the Company for temporary or preliminary relief with respect to Sections 8, 9,10, and 11 herein need not be resolved in arbitration and may be
resolved in a court of competent jurisdiction. 
 B. The Executive acknowledges that this agreement to submit to arbitration includes all
controversies or claims of any kind (e.g., whether in contract or in tort, statutory or common law, legal or equitable) now existing or hereafter arising under any federal, state, local 
 Page 6 of 9 of Employment Agreement 

 or foreign law (except that any claim by the Company for temporary or preliminary relief with respect to Sections 8,
9,10, and 11 herein may be brought in a court of competent jurisdiction), including, but not limited to, the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1866, the Employee Retirement
Income Security Act, and the Americans With Disabilities Act, and the Executive hereby waives all rights thereunder to have a judicial tribunal resolve such claims. 
 18. Voluntary Agreement. The Executive acknowledges that before entering into this Agreement, the Executive has had the opportunity to consult with any attorney or other advisor of her choice, and that this
constitutes advice from the Company to do so if he chooses. The Executive further acknowledges that he has entered into this Agreement of her own free will, and that no promises or representations have been made to him by any person to induce him to
enter into this Agreement other than the express terms set forth herein. The Executive further acknowledges that he has read this Agreement and understands all of its terms, including the waiver of rights set forth in Section 17. 
 19. Binding Effect. This Agreement shall bind the parties hereto, their respective successors and permitted assigns. 
 20. Amendment. No provisions of this Agreement may be amended, modified, waived or discharged unless such amendment, waiver, modification or
discharge is agreed to in writing signed by the Executive and on behalf of the Company by such officer as may be specifically designated by the Board. No waiver by either party hereto at any time of any breach by the other party hereto of, or
compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 
 21. Entire Agreement. This Agreement constitutes the entire agreement between the parties, pertaining to the subject matter hereof, and supersedes
all prior or contemporaneous written or verbal agreements and understandings with the Executive in connection with the subject matter hereof. 
 22. Governing Law. This Agreement and the rights and obligations hereunder shall be governed by the laws of the State of Florida without regard to its conflicts principles and the parties to this Agreement specifically consent to the
jurisdiction of the courts of the State of Florida over any action arising out of or related to this Agreement. 
 23. Survival. All
covenants, agreements, representations and warranties made herein or otherwise made in writing by any party pursuant hereto shall survive the termination of this Agreement and the employment of the Executive hereunder. 
 24. Severability. If any provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions shall,
nevertheless, continue in full force and effect without being impaired or invalidated in any way. 
 Page 7 of 9 of Employment Agreement

 25. Counterparts. This Agreement may be executed by the parties in one or more counterparts, each
of which when so executed shall be an original and all such counterparts shall constitute one and the same instrument. Confirmation of execution by electronic transmission of a facsimile signature page shall be binding upon any party so confirming.

 [SIGNATURES ON FOLLOWING PAGE] 
 Page 8 of 9 of Employment Agreement 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above.

  

			
	EXECUTIVE:
	
	 /s/ Susan Weisman

	
	COMPANY:
	
	                                       
                                        
      ,

	 Coach Industries Group, Inc.

		
	 By:
	 	 /s/ Francis O’Donnell

	 Name:
	 	Francis O’Donnell
	 Title:
	 	Chief Executive Officer

 Page 9 of 9 of Employment AgreementForm of Option Agreement

 EXHIBIT 10.38 
 NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM,
OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL
BE ACCEPTABLE TO THE COMPANY. 
 COACH INDUSTRIES GROUP, INC. 
 Option to Purchase Common Stock 
 Coach Industries Group, Inc. (the
“Company”), for value received, hereby certifies that Steven Rothman (the “Optionee”) is entitled, subject to the terms set forth below, to purchase from the Company on or after February 1, 2006 (the
“Issuance Date”), up to 50,000 shares of the Company’s common stock (“Common Stock”) at the exercise price of $0.37 per share of Common Stock (the “Exercise Price”). The right of the
Optionee to purchase the Common Stock shall terminate on a date, which is ten years from the date of this Option (the “Expiration Date”). The shares purchasable upon exercise of this Option, as adjusted from time to time pursuant to
the provisions of this Option, are hereinafter referred to as the “Option Shares.” 
 1. Exercise.
Subject to the terms of this Option, the purchase rights represented by this Option may be exercised by Optionee, in whole or in part (but not as to less than a whole share of Common Stock), at any time, and from time to time, during the period
commencing on the Issuance Date and terminating on the Expiration Date. 
 (a) Exercise by Payment. This Option may be exercised by
Optionee by: (i) surrender of this Option at the principal office of the Company, (ii) delivery of a duly executed Purchase Notice, in the form attached hereto as Exhibit A, at the Company’s office (or such office or agency of the
Company as it may designate in writing to Optionee), specifying the number of Common Shares as to which the Option is being exercised, and (iii) payment by Optionee to the Company of an amount equal to the Exercise Price multiplied by the number of
Common Shares being purchased (the “Purchase Price”). Such payment shall be made by cash, by certified check, bank draft or confirmed wire transfer. 

 (b) Cashless Exercise. Notwithstanding the payment provisions set forth in
Section 1(a) above, Optionee may elect to receive Option Shares equal to the value of this Option (or any portion thereof vested but unexercised) by (i) surrender of this Option at the principal office of the Company and (ii) delivery of a duly
executed Purchase Notice, in the form attached hereto as Exhibit A, in which event the Company shall issue to Optionee that number of Shares computed using the following formula: 
 X = Y (A-B) 
         A 
 where 
  

	 	X =	the number of Option Shares to be issued to Optionee. 

  

	 	Y =	the number of Option Shares purchasable under the Option being exchanged (as adjusted to the date of such calculation). 

  

	 	A =	the Market Price on the date of notice (as provided in Section 8) of the exercise of this Option in accordance with the terms herein. 

  

	 	B =	the Exercise Price of the Option being exchanged (as adjusted in accordance with the terms herein). 

 The “Market Price” on any trading day shall be deemed to be the last reported sale price of the Common Stock on such day, or, in the
case no such reported sales take place on such day, the last reported sale price on the preceding trading day on which there was a last reported sales price, as officially reported by the principal securities exchange in which the shares of Common
Stock are listed or admitted to trading or by the Nasdaq Stock Market, or if the Common Stock is not listed or admitted to trading on any national securities exchange or the Nasdaq Stock Market, the last sale price, or if there is no last sale
price, the closing bid price, as furnished by the National Association of Securities Dealers, Inc. (such as through the OTC Bulletin Board) or a similar organization or if Nasdaq is no longer reporting such information. If the Market Price cannot be
determined pursuant to the sentence above, the Market Price shall be determined in good faith (using customary valuation methods) by the Board of Directors based on the information best available to it, including recent arms-length sales of Common
Stock to unaffiliated persons. 
 (c) Upon exercise of this Option the Company or the Company’s agent shall deliver to the Optionee a
certificate for the number of Option Shares to which the Optionee shall be entitled. 
 (d) Upon exercise of this Option, the Optionee shall
be deemed to have become the holder of record of the Option Shares represented by such exercise. 
 2. Adjustments. 

(a) If outstanding shares of the Company’s Common Stock shall be subdivided into a greater number of shares or a dividend in Common Stock shall be
paid in 
  

 2 

 respect of Common Stock, the Exercise Price in effect immediately prior to such subdivision or at the record date of such
dividend shall simultaneously with the effectiveness of such subdivision or immediately after the record date of such dividend be proportionately reduced. If outstanding shares of Common Stock shall be combined into a smaller number of shares, the
Exercise Price in effect immediately prior to such combination shall, simultaneously with the effectiveness of such combination, be proportionately increased. When any adjustment is required to be made in the Purchase Price, the number of Option
Shares purchasable upon the exercise of this Option shall be changed to the number determined by dividing (i) an amount equal to the number of shares issuable upon the exercise of this Option immediately prior to such adjustment, multiplied by the
Exercise Price in effect immediately prior to such adjustment, by (ii) the Exercise Price in effect immediately after such adjustment. 
 (b)
In case of any recapitalization, reclassification or change of the outstanding securities of the Company or of any reorganization of the Company or any similar corporate reorganization (other than a merger or consolidation with a wholly-owned
subsidiary, a reincorporation of the Company in a different jurisdiction, or other transaction in which there is no substantial change in the stockholders of the Company or their relative stock holdings) on or after the date hereof (a
“Restructuring”), then as a condition to such Restructuring, lawful and adequate provisions shall be made so that in each such case Optionee, upon the exercise hereof at any time after the consummation of such reclassification,
change or reorganization, shall be entitled to receive, in lieu of the stock or other securities and property receivable upon the exercise hereof prior to such consummation, the stock or other securities or property to which such holder would have
been entitled upon such consummation if such holder had exercised this Option immediately prior thereto, all subject to further adjustment as provided in paragraph (a); and in each such case, the terms of this Section 2 shall be applicable to the
shares of stock or other securities properly receivable upon the exercise of this Option after such consummation. 
 (c) When any adjustment
is required to be made in the Exercise Price or the number Option Shares issuable upon exercise of this Option, the Company shall promptly mail to the Optionee in accordance with Section 8 hereof a certificate setting forth the Exercise Price after
such adjustment and setting forth a brief statement of the facts requiring such adjustment. Such certificate shall also set forth the kind and amount of stock or other securities or property into which this Option shall be exercisable following the
occurrence of any of the events specified in this Section 2. 
 3. Transfers. The Optionee acknowledges that this
Option and the Option Shares have not been registered under the Securities Act, and agrees not to sell, pledge, distribute, offer for sale, transfer or otherwise dispose of this Option or any Option Shares issued upon its exercise in the absence of
(i) an effective registration statement under the Securities Act as to this Option and such Option Shares and registration or qualification of this Option and such Option Shares under any applicable Blue Sky or state securities law then in effect,
or (ii) an opinion of counsel, reasonably satisfactory to the Company, that such registration and qualification are not required. 
 4.
No Impairment. The Company will not, by amendment of its charter or through reorganization, consolidation, merger, dissolution, sale of assets or any other voluntary action, avoid or seek to avoid the observance or
performance of any of the terms of this Option, but will 
  

 3 

 at all times in good faith assist in the carrying out of all such terms and in the taking of all such action as may be
necessary or appropriate in order to protect the rights of Optionee against impairment. 
 5. Termination. This
Option (and the right to purchase securities upon exercise hereof) shall terminate upon the Expiration Date. 
 6. Reservation
of Stock. The Company covenants and agrees that all Option Shares that may be issued upon the exercise of the rights represented by this Option will, upon issuance, be duly authorized, validly issued, fully paid and non-assessable.
The Company will at all times reserve and keep available, solely for the issuance and delivery upon the exercise of this Option, the Option Shares and other stock, securities and property, as from time to time shall be issuable upon the exercise of
this Option. The Company will take all such action as may be necessary to assure that the Option Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of any domestic securities
exchange or quotation system upon which the Option Shares may be listed or quoted. 
 7. Replacement of Option.
Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Option and (in the case of loss, theft or destruction) upon delivery of a reasonable indemnity agreement (with surety if reasonably
required) in an amount reasonably satisfactory to the Company, or (in the case of mutilation) upon surrender and cancellation of this Option, the Company, at its own expense, will issue, in lieu thereof, a new Option agreement of like tenor.

 8. Mailing of Notices. Any and all notices or other communications or deliveries required or permitted to be
provided hereunder shall be in writing and shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number set forth on the signature pages
attached hereto prior to 5:30 p.m. (New York City time) on a business day, (b) the next business day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number set forth on the signature pages
attached hereto on a day that is not a business day or later than 5:30 p.m. (New York City time) on any business day, (c) the second business day following the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (d)
upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as set forth on the signature page hereto. 
 9. No Rights as Shareholder. Until the exercise of this Option, the Optionee shall not have or exercise any rights by virtue
hereof as a shareholder of the Company. 
 10. No Fractional Shares. No fractional shares of Common Stock will be
issued in connection with any exercise hereunder. In lieu of any fractional shares which would otherwise be issuable, the Company shall pay an amount equal to the product of such fraction multiplied by the fair market value of one share of Common
Stock on the date of exercise. 
 11. Amendment or Waiver. Any term of this Option may be amended or waived upon
written consent of the Company and the Optionee. Any such waiver of a breach of any provision of this Option shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this
Option. 
  

 4 

 12. Representations of Optionee. The Optionee hereby represents and warrants
to the Company that: (a) he has had access to and is familiar with information concerning the Company’s business, affairs, financial condition, and prospects and (b) he has such knowledge and experience in financial and business matters that he
is capable of evaluating the merits and risks of accepting the Option. 
 13. Headings. The headings in this
Option are for purposes of reference only and shall not limit or otherwise affect the meaning of any provision of this Option. 
 14.
Governing Law. This Option shall be governed, construed and interpreted in accordance with the laws of the State of California, without giving effect to principles of conflicts of law. 
 15. No Assignment. This Option is not assignable or transferable by the Optionee, other than by will or by the laws of
descent and distribution, by instrument to an inter vivos or testamentary trust in which the options are to be passed to beneficiaries upon the death of the trustor, or by gift to “immediate family” as that term is defined in 17 C.F.R.
240.16a-1(e). 
 IN WITNESS WHEREOF, the Company and Optionee have each caused this Option to be executed as of the Issuance Date. 
  

			
	Coach Industries Group, Inc.
		
	By:	 	 /s/ Francis O’Donnell

		 	Francis O’Donnell, President
		 	12330 SW 53rd Street
		 	Suite 703
		 	Cooper City, FL 33330

  

			
	“Optionee”
	
	 /s/ Steven H. Rothman

	 Print Name:
	 	Steven H. Rothman
	 Address:
	 	49 Roberts Road
		 	New City, NY 10956

  

 5 

 EXHIBIT A 
 PURCHASE FORM 
  

	To:	Coach Industries Group, Inc. 

 Dated:
[                    ] 
 The
undersigned record holder of the within Option hereby irrevocably elects to exercise the right to purchase
[                            ] Common Shares evidenced by the within Option, according to the terms
and conditions thereof, and herewith makes payment of the purchase price in full. Payment shall take the form of (check applicable box): 
  

	 	 ̈	cash, certified check, bank draft or confirmed wire transfer; or 

  

	 	 ̈	the cancellation of such number Option Shares as is necessary, in accordance with the formula set forth in Section 1(b), to exercise this Option with respect to the maximum number
of Option Shares purchasable pursuant to the cashless exercise procedure set forth in Section 1(b). 

 The undersigned requests
that certificates for such shares and Options shall be issued in the name set forth below: 
  

							
	Dated:                     	 	By:	 	  

		 		 	Print Name:	 	
		 		 	Print Title:	 	

 Social Security No. or other identifying
number:____________________________________________________________________ 
 Name to who certificates are to be issued if different from
above._______________________________________________________ 
 Address:________________________________________________________________________________________________________ 
 Social Security No. or other
identifying number:____________________________________________________________________ 
 If said number of shares and Options shall not be all of the
shares purchasable under the within Option, the undersigned requests that a new Option for the unexercised portion be registered in the name of: 
  
 ___________________________________________________________________________________________________________________ 
 (Please Print) 
 Address:________________________________________________________________________________________________________ 
 Social Security No. or other
identifying number:____________________________________________________________________ 
 Signature:_____________________________________________________________________________________________________

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