Document:

Exhibit
4.10

 

NEITHER
THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE
COMMISSION (THE “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. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN
ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

COMMON
STOCK PURCHASE WARRANT

 

DropCar,
inc.

 

	Warrant
    Shares: [_______]	Issue
    Date: [_________, 2020
	 	Initial
    Exercise Date: [_______, 2020

 

THIS
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, _____________ or its assigns
(the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter
set forth, at any time on or after the date set forth above (the “Initial Exercise Date”) and until this Warrant
is exercised in full (the “Termination Date”) but not thereafter, to subscribe for and purchase from DROPCAR,
Inc., a Delaware corporation (the “Company”), up to ______ shares (as subject to adjustment hereunder, the
“Warrant Shares”) of Common Stock. The purchase price of one share of Common Stock under this Warrant shall
be equal to the Exercise Price, as defined in Section 2(b).

 

Section
1.Definitions. In addition to the terms defined elsewhere in this Warrant, the following terms have the meanings
indicated in this Section 1:

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Bid
Price” means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common
Stock is then listed or quoted on a Trading Market, the bid price of the Common Stock for the time in question (or the nearest
preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based
on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading
Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX
as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common
Stock are then reported on The Pink Open Market (or a similar organization or agency succeeding to its functions of reporting
prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value
of a share of Common Stock as determined by an independent appraiser selected in good faith by the Holder and reasonably acceptable
to the Company, the fees and expenses of which shall be paid by the Company.

 

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“Common
Stock” means the common stock of the Company, no par value, and any other class of securities into which such securities
may hereafter be reclassified or changed.

 

“Common
Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to
acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive,
Common Stock.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Subscription
Agreement” means that certain Stock Subscription Agreement, dated December __, 2019, by and among the Company and the
subscribers signatory thereto.

 

“Subsidiary”
means any subsidiary of the Company and shall, where applicable, also include any direct or indirect subsidiary of the Company
formed or acquired after the date of the Subscription Agreement.

 

“Trading
Day” means a day on which the Common Stock is traded on a Trading Market.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on
the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market
or the New York Stock Exchange (or any successors to any of the foregoing)

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then
listed or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest
preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based
on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading
Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX
as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common
Stock are then reported in The Pink Open Market (or a similar organization or agency succeeding to its functions of reporting
prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value
of a share of Common Stock as determined by an independent appraiser selected in good faith by the Holders and reasonably acceptable
to the Company, the fees and expenses of which shall be paid by the Company.

 

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Section
2.Exercise.

 

a)       Exercise
of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times
on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed facsimile
copy or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto (the “Notice
of Exercise”). Within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard
Settlement Period (as defined in Section 2(d)(i) herein) following the date of exercise as aforesaid, the Holder shall deliver
the aggregate Exercise Price for the Warrant Shares specified in the applicable Notice of Exercise by wire transfer or cashier’s
check drawn on a United States bank unless the cashless exercise procedure specified in Section 2(c) below is specified in the
applicable Notice of Exercise. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other
type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding anything herein to the contrary, the
Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant
Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant
to the Company for cancellation within three (3) Trading Days of the date on which the final Notice of Exercise is delivered to
the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available
hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal
to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing the number of
Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise within
one (1) Trading Day of receipt of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and
agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder,
the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face
hereof.

 

b)       Exercise
Price. The exercise price per share of Common Stock under this Warrant shall be $0.01, subject to adjustment hereunder (the
“Exercise Price”).

 

c)       Cashless
Exercise. This Warrant may also be exercised, in whole or in part, at any time by means of a “cashless exercise”
in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B)
(X)] by (A), where:

 

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	 	(A)
    =	as applicable: (i) the VWAP on the Trading Day immediately
preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant
to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on
a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b)(68) of Regulation NMS promulgated
under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day
immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal
Trading Market as reported by Bloomberg L.P. as of the time of the Holder’s execution of the applicable Notice of Exercise
if such Notice of Exercise is executed during “regular trading hours” on a Trading Day and is delivered within two
(2) hours thereafter (including until two (2) hours after the close of “regular trading hours” on a Trading Day) pursuant
to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise
is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of
“regular trading hours” on such Trading Day;
	 	 	 
	 	(B)
    =	the Exercise Price of this Warrant, as adjusted hereunder;
and
	 	 	 
	 	(X)
    =	the number of Warrant Shares that would be issuable
upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather
than a cashless exercise.

 

If
Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9)
of the Securities Act, the Warrant Shares shall take on the characteristics of the Warrants being exercised. The Company agrees
not to take any position contrary to this Section 2(c).

 

d)       Mechanics of Exercise.

 

i.       Delivery
of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted by the transfer
agent of the Company (the “Transfer Agent”) to the Holder by crediting the account of the Holder’s or
its designee’s balance account with The Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”)
if the Company is then a participant in such system and either (A) there is an effective registration statement permitting the
issuance of the Warrant Shares to or resale of the Warrant Shares by the Holder or (B) this Warrant is being exercised via cashless
exercise, and otherwise by physical delivery of a certificate, registered in the Company’s share register in the name of
the Holder or its designee, for the number of Warrant Shares to which the Holder is entitled pursuant to such exercise to the
address specified by the Holder in the Notice of Exercise by the date that is the earlier of (A) the earlier of (i) two (2) Trading
Days and (ii) the number of days comprising the Standard Settlement Period, in each case after the delivery to the Company of
the Notice of Exercise and (B) one (1) Trading Day after delivery of the aggregate Exercise Price to the Company (such date, the
“Warrant Share Delivery Date”). Upon delivery of the Notice of Exercise, the Holder shall be deemed for all
corporate purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised,
irrespective of the date of delivery of the Warrant Shares, provided that payment of the aggregate Exercise Price (other than
in the case of a cashless exercise) is received by the Warrant Share Delivery Date. If the Company fails for any reason to deliver
to the Holder the Warrant Shares subject to a Notice of Exercise by the Warrant Share Delivery Date, the Company shall pay to
the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares subject to such exercise (based
on the VWAP of the Common Stock on the date of the applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per
Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for each Trading Day after such Warrant Share
Delivery Date until such Warrant Shares are delivered or Holder rescinds such exercise. The Company agrees to maintain a transfer
agent that is a participant in the FAST program so long as this Warrant remains outstanding and exercisable. As used herein, “Standard
Settlement Period” means the standard settlement period, expressed in a number of Trading Days, on the Company’s
primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the Notice of Exercise.

 

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ii.       Delivery of New Warrants Upon Exercise. If this Warrant shall have been
exercised in part, the Company shall, at the request of a Holder and upon surrender of this Warrant certificate, at the time
of delivery of the Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the
unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this
Warrant.

 

iii.       Rescission
Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to Section
2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

iv.       Compensation
for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available to the Holder,
if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions
of Section 2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder
is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise
purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated
receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount,
if any, by which (x) the Holder’s total purchase price (including brokerage commissions, if any) for the shares of Common
Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant Shares that the Company was required
to deliver to the Holder in connection with the exercise at issue times (2) the price at which the sell order giving rise to such
purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Warrant and equivalent
number of Warrant Shares for which such exercise was not honored (in which case such exercise shall be deemed rescinded) or deliver
to the Holder the number of shares of Common Stock that would have been issued had the Company timely complied with its exercise
and delivery obligations hereunder. For example, if the Holder purchases Common Stock having a total purchase price of $11,000
to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate sale price giving rise to
such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required to pay
the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect
of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s
right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific
performance and/or injunctive relief with respect to the Company’s failure to timely deliver shares of Common Stock upon
exercise of the Warrant as required pursuant to the terms hereof.

 

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v.       No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the
Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction
multiplied by the Exercise Price or round up to the next whole share.

 

vi.       Charges,
Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or
other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the
Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the
Holder; provided, however, that, in the event that Warrant Shares are to be issued in a name other than the name
of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed
by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer
tax incidental thereto. The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise
and all fees to the Depository Trust Company (or another established clearing corporation performing similar functions) required
for same-day electronic delivery of the Warrant Shares.

 

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vii.       Closing
of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of
this Warrant, pursuant to the terms hereof.

 

e)       Holder’s
Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to
exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance
after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and
any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution
Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes
of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution
Parties shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which such determination
is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining,
nonexercised portion of this Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii)
exercise or conversion of the unexercised or nonconverted portion of any other securities of the Company (including, without limitation,
any other Common Stock Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein
beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence,
for purposes of this Section 2(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act
and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing
to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible
for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 2(e)
applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together
with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable shall be in the sole discretion
of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this
Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties)
and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company
shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group
status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations
promulgated thereunder. For purposes of this Section 2(e), in determining the number of outstanding shares of Common Stock, a
Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic
or annual report filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a
more recent written notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding.
Upon the written or oral request of a Holder, the Company shall within one Trading Day confirm orally and in writing to the Holder
the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be
determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder
or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported.
The “Beneficial Ownership Limitation” shall be [9.99/4.99% of the number of shares of the Common Stock outstanding
immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant. The Holder,
upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided
that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately
after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions
of this Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until
the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and
implemented in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or
any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained
or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained
in this paragraph shall apply to a successor holder of this Warrant.

 

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Section
3.Certain Adjustments.

 

a)       Stock
Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise
makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable
in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon
exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including
by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by reclassification
of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied
by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding
immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately
after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that
the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become
effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution
and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

b)       RESERVED.

 

c)       Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues
or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record
holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to
acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired
if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard
to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the
date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date
as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights
(provided, however, that, to the extent that the Holder’s right to participate in any such Purchase Right
would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate
in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right
to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its
right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

d)       Pro
Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or
other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital
or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of
a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”),
at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution
to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock
acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation,
the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such
record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation
in such Distribution (provided, however, that, to the extent that the Holder’s right to participate in any
such Distribution would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled
to participate in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of
such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder
until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

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e)       Fundamental
Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related
transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company (and all of its
Subsidiaries, taken as a whole), directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or
other disposition of all or substantially all of its assets in one or a series of related transactions, (iii) any, direct or indirect,
purchase offer, tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders
of Common Stock are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted
by the holders of 50% or more of the outstanding Common Stock, (iv) the Company, directly or indirectly, in one or more related
transactions effects any reclassification, reorganization or recapitalization of the Common Stock or any compulsory share exchange
pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property, or (v) the
Company, directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other
business combination (including, without limitation, a reorganization, recapitalization, spin-off, merger or scheme of arrangement)
with another Person or group of Persons whereby such other Person or group acquires more than 50% of the outstanding shares of
Common Stock (not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated
or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination)
(each a “Fundamental Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have
the right to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence
of such Fundamental Transaction, at the option of the Holder (without regard to any limitation in Section 2(e) on the exercise
of this Warrant), the number of shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the
surviving corporation, and any additional consideration (the “Alternate Consideration”) receivable as a result
of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately
prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise of this Warrant). For
purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate
Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in such Fundamental
Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting
the relative value of any different components of the Alternate Consideration. If holders of Common Stock are given any choice
as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice
as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction. The Company
shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor
Entity”) to assume in writing all of the obligations of the Company under this Warrant and the other Transaction Documents
in accordance with the provisions of this Section 3(e) pursuant to written agreements in form and substance reasonably satisfactory
to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the
option of the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written
instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number of shares
of capital stock of such Successor Entity (or its parent entity) equivalent to the shares of Common Stock acquirable and receivable
upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction,
and with an exercise price which applies the exercise price hereunder to such shares of capital stock (but taking into account
the relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital
stock, such number of shares of capital stock and such exercise price being for the purpose of protecting the economic value of
this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form
and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and
be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Warrant and the other
Transaction Documents referring to the “Company” shall refer instead to the Successor Entity), and may exercise every
right and power of the Company and shall assume all of the obligations of the Company under this Warrant and the other Transaction
Documents with the same effect as if such Successor Entity had been named as the Company herein.

 

    	 	9	 

    	 

    

 

f)       Calculations.
All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall
be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

g)       Notice
to Holder.

 

i.       Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall
promptly deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and any resulting
adjustment to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

ii.       Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the
Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares
of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection
with any reclassification of the Common Stock, any consolidation or merger to which the Company (and all of its Subsidiaries,
taken as a whole) is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory
share exchange whereby the Common Stock is converted into other securities, cash or property, or (E) the Company shall authorize
the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company
shall cause to be delivered by facsimile or email to the Holder at its last facsimile number or email address as it shall appear
upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter
specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption,
rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled
to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification,
consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it
is expected that holders of the Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities,
cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided
that the failure to deliver such notice or any defect therein or in the delivery thereof shall not affect the validity of the
corporate action required to be specified in such notice. To the extent that any notice provided in this Warrant constitutes,
or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously
file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this
Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice except
as may otherwise be expressly set forth herein.

 

Section
4.Transfer of Warrant.

 

a)       Transferability.
This Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in
part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment
of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient
to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company
shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination
or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion
of this Warrant not so assigned, and this Warrant shall promptly be cancelled. Notwithstanding anything herein to the contrary,
the Holder shall not be required to physically surrender this Warrant to the Company unless the Holder has assigned this Warrant
in full, in which case, the Holder shall surrender this Warrant to the Company within three (3) Trading Days of the date on which
the Holder delivers an assignment form to the Company assigning this Warrant in full. The Warrant, if properly assigned in accordance
herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

 

    	 	10	 

    	 

    

 

b)       New
Warrants. This Warrant may be divided upon presentation hereof at the aforesaid office of the Company, together with a written
notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney.
Subject to compliance with Section 4(a), as to any transfer which may be involved in such division, the Company shall execute
and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such
notice. All f issued on transfers or exchanges shall be dated the original Issue Date and shall be identical with this Warrant
except as to the number of Warrant Shares issuable pursuant thereto.

 

c)       Warrant
Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant
Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered
Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder,
and for all other purposes, absent actual notice to the contrary.

 

d)       Representation
by the Holder. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant and, upon any
exercise hereof, will acquire the Warrant Shares issuable upon such exercise, for its own account and not with a view to or for
distributing or reselling such Warrant Shares or any part thereof in violation of the Securities Act or any applicable state securities
law, except pursuant to sales registered or exempted under the Securities Act.

 

Section
5.Miscellaneous.

 

a)       No
Rights as Stockholder Until Exercise; No Settlement in Cash. This Warrant does not entitle the Holder to any voting rights,
dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except
as expressly set forth in Section 3. Without limiting any rights of a Holder to receive Warrant Shares on a “cashless exercise”
pursuant to Section 2(c) or to receive cash payments pursuant to Section 2(d)(i) and Section 2(d)(iv) herein, in no event shall
the Company be required to net cash settle an exercise of this Warrant.

 

b)       Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case
of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate,
if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
in lieu of such Warrant or stock certificate.

 

    	 	11	 

    	 

    

 

c)       Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required
or granted herein shall not be a Trading Day, then such action may be taken or such right may be exercised on the next succeeding
Trading Day.

 

d)       Authorized
Shares.

The
Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common
Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights
under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers
who are charged with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant.
The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided
herein without violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common
Stock may be listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights
represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant
Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens
and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously
with such issue).

 

Except
and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation,
amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution,
issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the
terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all
such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment.
Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above
the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may
be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares
upon the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions
or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform
its obligations under this Warrant.

 

Before
taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or
in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be
necessary from any public regulatory body or bodies having jurisdiction thereof.

 

    	 	12	 

    	 

    

 

e)       Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be governed by and construed
and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law
thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions
contemplated by this Warrant (whether brought against a party hereto or their respective affiliates, directors, officers, shareholders,
partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City of
New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City
of New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper
or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents
to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight
delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Warrant and agrees that
such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed
to limit in any way any right to serve process in any other manner permitted by law. If either party shall commence an action,
suit or proceeding to enforce any provisions of this Warrant, the prevailing party in such action, suit or proceeding shall be
reimbursed by the other party for their reasonable attorneys’ fees and other costs and expenses incurred with the investigation,
preparation and prosecution of such action or proceeding.

 

f)       Restrictions.
The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, and the Holder
does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

g)       Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies, notwithstanding the fact that
the right to exercise this Warrant terminates on the Termination Date. Without limiting any other provision of this Warrant, if
the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any material damages
to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses including,
but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by the Holder in collecting
any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

    	 	13	 

    	 

    

 

h)       Notices.
Any and all notices or other communications or deliveries to be provided by the holders hereunder including, without limitation,
any Notice of Exercise, shall be in writing and delivered personally, by facsimile or e-mail, or sent by a nationally recognized
overnight courier service, addressed to the Company, at [__], Attention: [___], email address: [___], facsimile: [__], or such
other facsimile number, email address or address as the Company may specify for such purposes by notice to the Holders. Any and
all notices or other communications or deliveries to be provided by the Company hereunder shall be in writing and delivered personally,
by facsimile or e-mail, or sent by a nationally recognized overnight courier service addressed to each Holder at the facsimile
number, e-mail address or address of such Holder appearing on the books of the Company. Any notice or other communication or deliveries
hereunder shall be deemed given and effective on the earliest of (i) the time of transmission, if such notice or communication
is delivered via facsimile at the facsimile number or via e-mail at the e-mail address set forth in this Section prior to 5:30
p.m. (New York City time) on any date, (ii) the next Trading Day after the date of transmission, if such notice or communication
is delivered via facsimile at the facsimile number or via e-mail at the e-mail address set forth in this Section on a day that
is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (iii) the second Trading Day following the
date of mailing, if sent by U.S. nationally recognized overnight courier service, or (iv) upon actual receipt by the party to
whom such notice is required to be given. To the extent that any notice provided hereunder constitutes, or contains, material,
non-public information regarding the Company or any subsidiaries, the Company shall simultaneously file such notice with the Commission
pursuant to a Current Report on Form 8-K.

 

i)       Limitation
of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase
Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder
for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company
or by creditors of the Company.

 

j)       Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert
the defense in any action for specific performance that a remedy at law would be adequate.

 

k)       Successors
and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure
to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns
of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and
shall be enforceable by the Holder or holder of Warrant Shares.

 

l)       Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

 

m)       Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions
of this Warrant.

 

n)       Headings.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of
this Warrant.

 

********************

 

(Signature
Page Follows)

 

    	 	14	 

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first
above indicated.

 

 

	 	DropCar, inc.
	 	 	 
	 	By:	
	 	Name:	        
	 	Title:	 

 

    	 	15	 

    	 

    

 

NOTICE
OF EXERCISE

 

To:DropCar,
inc.

 

(1)       The
undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only
if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes,
if any.

 

(2)       Payment
shall take the form of (check applicable box):

 

[  ] in lawful money of the United States; or

 

[  ] if permitted the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in
subsection 2(c), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless
exercise procedure set forth in subsection 2(c).

 

(3)       Please
issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

(4)
The time of day this Notice of Exercise is being executed is:

 

_______________________________

 

The
Warrant Shares shall be delivered to the following DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

(4)
Accredited Investor. The undersigned is an “accredited investor” as defined in Regulation D promulgated under
the Securities Act of 1933, as amended.

 

[SIGNATURE
OF HOLDER]

 

Name
of Investing Entity: ________________________________________________________________________

Signature
of Authorized Signatory of Investing Entity: _________________________________________________

Name
of Authorized Signatory: ___________________________________________________________________

Title
of Authorized Signatory: ____________________________________________________________________

Date:
________________________________________________________________________________________

 

     

     

    

 

EXHIBIT
B

 

ASSIGNMENT
FORM

 

(To
assign the foregoing Warrant, execute this form and supply required information. Do not use this form to exercise the Warrant
to purchase shares.)

 

FOR
VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

	Name:	 
	 	(Please
    Print)
	 	 
	Address:	 
	 	(Please
        Print)

        

	 	 
	Phone
        Number:

        
	 
		 
	Email
Address:
	 
	 	 
	Dated:
    _______________ __, ______	 
	 	 
	Holder’s
    Signature:_____________________________	 
	 	 
	Holder’s
    Address:______________________________Exhibit
10.7

 

Employment
Agreement

 

This
Employment Agreement (the “Agreement”) is made and entered into effective March 8, 2018 (the “Effective
Date”), by and between Curt Smith (the “Executive”) and Austin EV, Inc., a Texas corporation (the
“Company”).

 

WHEREAS,
the Company desires to employ the Executive on the terms and conditions set forth herein; and

 

WHEREAS,
the Executive desires to be employed by the Company on such terms and conditions.

 

NOW,
THEREFORE, in consideration of the mutual covenants, promises, and obligations set forth herein, the parties agree as follows:

 

1.
Position and Duties.

 

1.1
Position. During the Employment Term, the Executive shall serve as the Chief Financial Officer of the Company, reporting
to the Company’s Chief Executive Officer (the “CEO”). In such position, the Executive shall have such
duties, authority, and responsibility as shall be determined from time to time by the CEO, which duties, authority, and responsibility
are consistent with the Executive’s position. The Executive shall, if requested, also serve as an officer or director of
any affiliate of the Company for no additional compensation.

 

1.2
Duties. During the Employment Term, the Executive shall devote full time and attention to the performance of the Executive’s
duties hereunder.

 

2.
Place of Performance. The principal place
of Executive’s employment shall be an office in Travis County Texas; provided that, the Executive may be required to travel
on Company business during the Employment Term.

 

3.
Compensation.

 

3.1
Base Salary. The Company shall pay the Executive a base salary of US$200,000 per annum (gross salary) in periodic installments
in accordance with the Company’s customary payroll practices and applicable wage payment laws, but no less frequently than
monthly. Thereafter, the Executive’s base salary will be reviewed at least annually by the CEO and the CEO may, but shall
not be required to, increase the base salary during the Employment Term.

 

Annual
Bonus.

 

(a)
For each calendar year of the Employment Term, the Executive shall be eligible to receive an annual bonus (the “Annual
Bonus” - 25% of Annual Salary). However, the decision to provide any Annual Bonus and the amount and terms of any Annual
Bonus shall be in the sole and absolute discretion of the CEO, based on agreed upon milestones.

 

    	 

     

    

 

(b)
The Annual Bonus, if any, will be paid within two and a half (2 1/2) months after the end of the applicable calendar year.

 

(c)
Except as otherwise provided in Section 4, (i) the Annual Bonus will be subject to the terms of any Company annual bonus
plan under which it is granted and (ii) in order to be eligible to receive an Annual Bonus, the Executive must be employed by
the Company on the last day of the applicable calendar year.

 

3.2
Equity Awards. During the Employment Term, the Executive shall be eligible to participate in the Company’s 2017 Long
Term Incentive Plan (“LTIP”) or any successor plan, subject to the terms of the LTIP or successor plan, as determined
by the Board or any compensation committee of the Board, in either case in its discretion. Notwithstanding the generality of the
foregoing, in consideration of Executive entering into this Agreement and as an inducement to join the Company, the Company will,
as soon as practicable following the Effective Date grant to Executive nonqualified options to acquire 400,000 shares of the Company’s
Common Stock (“Option Shares”) with an exercise price of $0.6667 per common share (which the Company represents is
“fair market value” under Section 409A) as an award under the LTIP. Award will vest over 3 years equal installments
of 6-month cliffs.

 

3.3
Fringe Benefits and Perquisites. During the Employment Term, the Executive shall be entitled to fringe benefits and perquisites
consistent with the practices of the Company, and to the extent the Company provides similar benefits or perquisites (or both)
to similarly situated executives of the Company.

 

3.4
Employee Benefits. During the Employment Term, the Executive shall be entitled to participate in all employee benefit plans, practices,
and programs maintained by the Company, as in effect from time to time (collectively, “Employee Benefit Plans”),
to the extent consistent with applicable law and the terms of the applicable Employee Benefit Plans. The Company reserves the
right to amend or cancel any Employee Benefit Plans at any time in its sole discretion, subject to the terms of such Employee
Benefit Plan and applicable law.

 

3.5
Vacation; Paid Time-Off. During the Employment Term, the Executive will be entitled to paid vacation on a basis that is
at least as favorable as that provided to other similarly situated executives of the Company. The Executive shall receive other
paid time-off in accordance with the Company’s policies for executive officers as such policies may exist from time to time.

 

3.6
Business Expenses. The Executive shall be entitled to reimbursement for all reasonable and necessary out-of-pocket business,
entertainment, and travel expenses incurred by the Executive in connection with the performance of the Executive’s duties
hereunder in accordance with the Company’s expense reimbursement policies and procedures.

 

    	 	2	 

     

    

 

3.7
Indemnification.

 

(a)
In the event that the Executive is made a party or threatened to be made a party to any action, suit, or proceeding, whether civil,
criminal, administrative, or investigative (a “Proceeding”), other than any Proceeding initiated by the Executive
or the Company related to any contest or dispute between the Executive and the Company or any of its affiliates with respect to
this Agreement or the Executive’s employment hereunder, by reason of the fact that the Executive is or was a director, officer,
member, employee, or agent of the Company, or any affiliate of the Company, or is or was serving at the request of the Company
as a director, officer, member, employee, or agent of another corporation or a partnership, joint venture, trust, or other enterprise,
the Executive shall be indemnified and held harmless by the Company to the maximum extent permitted under applicable law and the
Company’s bylaws from and against any liabilities, costs, claims, and expenses, including all costs and expenses incurred
in defense of any Proceeding (including attorneys’ fees). Costs and expenses incurred by the Executive in defense of such
Proceeding (including attorneys’ fees) shall be paid by the Company in advance of the final disposition of such litigation
upon receipt by the Company of: (i) a written request for payment; (ii) appropriate documentation evidencing the incurrence, amount,
and nature of the costs and expenses for which payment is being sought; and (iii) an undertaking adequate under applicable law
made by or on behalf of the Executive to repay the amounts so paid if it shall ultimately be determined that the Executive is
not entitled to be indemnified by the Company under this Agreement. Executive shall also be covered under the Company’s
directors and officer’s liability insurance policies, when, as and if such policies are obtained by the Company.

 

4.
Termination of Employment. The Employment
Term and the Executive’s employment hereunder may be terminated by either the Company or the Executive at any time and for
any reason; provided that, unless otherwise provided herein, either party shall be required to give the other party at least ninety
(90) days’ advance written notice of any termination of the Executive’s employment. Upon termination of the Executive’s
employment during the Employment Term, the Executive shall be entitled to the compensation and benefits described in this Section
4 and shall have no further rights to any compensation or any other benefits from the Company or any of its affiliates.

 

4.1
Expiration of the Term, for Cause or Without Good Reason.

 

(a)
The Executive’s employment hereunder may be terminated upon either party’s failure to renew the Agreement by the Company
for Cause or by the Company or the Executive without Good Reason. If the Executive’s employment is terminated upon either
party’s failure to renew the Agreement, by the Company for Cause or by the Executive without Good Reason, the Executive
shall be entitled to receive:

 

(i)
any accrued but unpaid Base Salary (including any Owed Base Salary) and accrued but unused vacation which shall be paid on the
pay date immediately following the Termination Date (as defined below) in accordance with the Company’s customary payroll
procedures;

 

    	 	3	 

     

    

 

(ii)
any earned but unpaid Annual Bonus with respect to any completed calendar year immediately preceding the Termination Date, which
shall be paid on the otherwise applicable payment date, except to the extent payment is otherwise deferred pursuant to any applicable
deferred compensation arrangement as mutually agreed to by the parties; provided that, if the Executive’s employment is
terminated by the Company for Cause, then any such accrued but unpaid Annual Bonus shall be forfeited;

 

(iii)
reimbursement for unreimbursed business expenses properly incurred by the Executive, which shall be subject to and paid in accordance
with the Company’s expense reimbursement policy; and

 

(iv)
such employee benefits (including equity compensation), if any, to which the Executive may be entitled under the Company’s
employee benefit plans as of the Termination Date; provided that, in no event shall the Executive be entitled to any payments
in the nature of severance or termination payments except as specifically provided herein.

 

Items
5.1(a)(i) through 5.1(a)(iv) are referred to herein collectively as the “Accrued Amounts”.

 

(b)
For purposes of this Agreement, “Cause” shall mean:

 

(i)
the Executive’s failure to comply with any valid and legal directive of the Board;

 

(ii)
the Executive’s engagement in dishonesty, illegal conduct, or gross misconduct, which is, in each case, materially injurious
to the Company or its affiliates;

 

(iii)
the Executive’s embezzlement, misappropriation, or fraud, whether or not related to the Executive’s employment with
the Company;

 

(iv)
the Executive’s conviction of or plea of guilty or nolo contendere to a crime that constitutes a felony (or state law equivalent)
or a crime that constitutes a misdemeanor involving moral turpitude, if such felony or other crime is work-related, materially
impairs the Executive’s ability to perform services for the Company or results in material reputational or financial harm
to the Company or its affiliates;

 

(v)
the Executive’s willful unauthorized disclosure of Confidential Information (as defined below);

 

(vi)
the Executive’s material breach of any material obligation under this Agreement or any other written agreement between the
Executive and the Company; or

 

    	 	4	 

     

    

 

(vii)
any material failure by the Executive to comply with the Company’s written policies or rules, as they may be in effect from
time to time during the Employment Term, if such failure causes material reputational or financial harm to the Company.

 

For
purposes of this provision, no act or failure to act on the part of the Executive shall be considered “willful” unless
it is done, or omitted to be done, by the Executive in bad faith or without reasonable belief that the Executive’s action
or omission was in the best interests of the Company. Any act, or failure to act, based upon authority given pursuant to a resolution
duly adopted by the Board or upon the advice of counsel for the Company shall be conclusively presumed to be done, or omitted
to be done, by the Executive in good faith and in the best interests of the Company.

 

Termination
of the Executive’s employment shall not be deemed to be for Cause unless and until the Company delivers to the Executive
a copy of a resolution duly adopted by the affirmative vote of not less than a majority of the Board (after reasonable written
notice is provided to the Executive and the Executive is given an opportunity, together with counsel, to be heard before the Board),
finding that the Executive has engaged in the conduct described in any of (i)-(ix) above. Except for a failure, breach, or refusal
which, by its nature, cannot reasonably be expected to be cured, the Executive shall have 30 calendar days from the delivery of
written notice by the Company within which to cure any acts constituting Cause; provided however, that, if the Company reasonably
expects irreparable injury from a delay of 30 calendar days, the Company may give the Executive notice of such shorter period
within which to cure as the Board determines is reasonable under the circumstances, which may include the termination of the Executive’s
employment without notice and with immediate effect. The Company may place the Executive on paid leave for up to 30 days while
it is determining whether there is a basis to terminate the Executive’s employment for Cause. Any such action by the Company
will not constitute Good Reason.

 

(c)
For purposes of this Agreement, “Good Reason” shall mean the occurrence of any of the following, in each case
during the Employment Term without the Executive’s written consent:

 

(i)
a material reduction in the Executive’s Base Salary other than a general reduction in Base Salary that affects all similarly
situated executives in substantially the same proportions;

 

(ii)
a relocation of the Executive’s principal place of employment by more than fifty (50) miles;

 

(iii)
any material breach by the Company of any material provision of this Agreement;

 

(iv)
the Company’s failure to obtain an agreement from any successor to the Company to assume and agree to perform this Agreement
in the same manner and to the same extent that the Company would be required to perform if no succession had taken place, except
where such assumption occurs by operation of law; or

 

    	 	5	 

     

    

 

(v)
a material, adverse change in the Executive’s authority, duties, or responsibilities (other than temporarily while the Executive
is physically or mentally incapacitated or as required by applicable law) taking into account the Company’s size, status
as a private company, and capitalization as of the date of this Agreement;

 

The
Executive cannot terminate his employment for Good Reason unless he has provided written notice to the Company of the existence
of the circumstances providing grounds for termination for Good Reason within 30 days of the initial existence of such grounds
and the Company has had at least 30 days from the date on which such notice is provided to cure such circumstances. If the Executive
does not terminate his employment for Good Reason within 30 days after the expiration of the Company’s cure period, then
the Executive will be deemed to have waived his right to terminate for Good Reason with respect to such grounds.

 

4.2
Without Cause or for Good Reason. The Employment Term and the Executive’s employment hereunder may be terminated
by the Executive for Good Reason or by the Company without Cause. In the event of such termination, the Executive shall be entitled
to receive the Accrued Amounts and subject to the Executive’s compliance with Section 5, Section 6, Section
7, and Section 8 of this Agreement and his execution of a release of claims in favor of the Company, its affiliates
and their respective officers and directors in a form provided by the Company (the “Release”) and such Release
becoming effective within 30 days following the Termination Date (such 30-day period, the “Release Execution Period”),
the Executive shall be entitled to receive the following:

 

(a)
continued Base Salary (without giving effect to any reduction in Base Salary that gives rise to a resignation for Good Reason)
for one year following the Termination Date in an aggregate amount equal to Fifty Percent (50%) times the Executive’s Base
Salary for the year in which the Termination Date occurs, which sum shall be paid in equal installment payments payable in accordance
with the Company’s normal payroll practices, but no less frequently than monthly, which shall begin within 30 days following
the Termination Date; provided that, the first installment payment shall include all amounts that would otherwise have been paid
to the Executive during the period beginning on the Termination Date and ending on the first payment date if no delay had been
imposed;

 

(b)
If the Executive timely and properly elects health continuation coverage under the Consolidated Omnibus Budget Reconciliation
Act of 1985 (“COBRA”), the Company shall reimburse the Executive for the difference between the monthly COBRA
premium paid by the Executive for himself and his dependents and the monthly premium amount paid by similarly situated active
executives. Such reimbursement shall be paid to the Executive on the fifteenth (15th) day of the month immediately following the
month in which the Executive timely remits the premium payment. The Executive shall be eligible to receive such reimbursement
until the earliest of: (i) the twelve-month anniversary of the Termination Date; (ii) the date the Executive is no longer eligible
to receive COBRA continuation coverage; and (iii) the date on which the Executive becomes eligible to receive substantially similar
coverage from another employer or other source. Notwithstanding the foregoing, if the Company’s making payments under this
Section 4.2(b) would violate the nondiscrimination rules applicable to non-grandfathered plans under the Affordable Care
Act (the “ACA”), or result in the imposition of penalties under the ACA and the related regulations and guidance
promulgated thereunder), the parties agree to reform this Section 4.2(b) in a manner as is necessary to comply with the
ACA.

 

    	 	6	 

     

    

 

(c)
The treatment of any outstanding equity awards shall be determined in accordance with the terms of the LTIP and the applicable
award agreements.

 

4.3
Death or Disability.

 

(a)
The Executive’s employment hereunder shall terminate automatically upon the Executive’s death during the Employment
Term, and the Company may terminate the Executive’s employment on account of the Executive’s Disability.

 

(b)
If the Executive’s employment is terminated during the Employment Term on account of the Executive’s death or Disability,
the Executive (or the Executive’s estate and/or beneficiaries, as the case may be) shall be entitled to receive the Accrued
Amounts and no other compensation shall be payable to the Executive (or the Executive’s estate and/or beneficiaries, as
the case may be); except that in the event of Executive’s death or Disability, with respect to Executive’s vested
options upon the date of death or Disability, Executive’s estate and/or beneficiaries will have one (1) year from the Termination
Date to exercise such vested options. Notwithstanding any other provision contained herein, all payments made in connection with
the Executive’s Disability shall be provided in a manner which is consistent with federal and state law.

 

(c)
For purposes of this Agreement, “Disability” shall mean the Executive is entitled to receive long-term disability
benefits under the Company’s long-term disability plan, or if there is no such plan, the Executive’s inability, due
to physical or mental incapacity, to perform the essential functions of his job, with or without reasonable accommodation, for
one hundred twenty (120) consecutive days; provided however, in the event that the Company temporarily replaces the Executive,
or transfers the Executive’s duties or responsibilities to another individual on account of the Executive’s inability
to perform such duties due to a mental or physical incapacity which is, or is reasonably expected to become, a Disability, then
the Executive’s employment shall not be deemed terminated by the Company and the Executive shall not be able to resign with
Good Reason as a result thereof. Any question as to the existence of the Executive’s Disability as to which the Executive
and the Company cannot agree shall be determined in writing by a qualified independent physician mutually acceptable to the Executive
and the Company. If the Executive and the Company cannot agree as to a qualified independent physician, each shall appoint such
a physician and those two physicians shall select a third who shall make such determination in writing. The determination of Disability
made in writing to the Company and the Executive shall be final and conclusive for all purposes of this Agreement.

 

    	 	7	 

     

    

 

4.4
Change in Control Termination.

 

(a)
Notwithstanding any other provision contained herein, if the Executive’s employment hereunder is terminated by the Executive
for Good Reason or by the Company without Cause (other than on account of the Executive’s death or Disability), in each
case within twelve (12) months following a Change in Control, the Executive shall be entitled to receive the Accrued Amounts and
subject to the Executive’s compliance with Section 5, Section 6, Section 7 and Section 8 of
this Agreement and his execution of a Release which becomes effective within 30 days following the Termination Date, the Executive
shall be entitled to receive the following:

 

(i)
a lump sum payment equal to Fifty Percent (50%) of the Executive’s Base Salary (without giving effect to any reduction in
Base Salary that gave rise to a resignation for Good Reason) for the year in which the Termination Date occurs, which shall be
paid within sixty (60) days following the Termination Date.

 

(ii)
If the Executive timely and properly elects health continuation coverage under COBRA, the Executive shall be entitled to receive
COBRA reimbursements as set forth in Section 5.2(b).

 

(b)
For purposes of this Agreement, “Change in Control” shall mean the occurrence of any of the following after
the Effective Date:

 

(i)
one person (or more than one person acting as a group) acquires ownership of stock of the Parent that, together with the stock
held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of such
corporation; provided that, a Change in Control shall not occur if any person (or more than one person acting as a group) owns
more than 20% of the total fair market value or total voting power of the Parent’s stock and acquires additional stock;

 

(ii)
a majority of the members of the Board are replaced during any twelve-month period by directors whose appointment or election
is not endorsed by a majority of the Board before the date of appointment or election; or

 

(iii)
the sale of all or substantially all of the Company’s assets.

 

Notwithstanding
the foregoing, a Change in Control shall not occur unless such transaction constitutes a change in the ownership of the Company,
a change in effective control of the Company, or a change in the ownership of a substantial portion of the Company’s assets
under Section 409A.

 

    	 	8	 

     

    

 

4.5
Notice of Termination. Any termination of the Executive’s employment hereunder by the Company or by the Executive
during the Employment Term (other than termination pursuant to Section 5.3(a) on account of the Executive’s death)
shall be communicated by written notice of termination (“Notice of Termination”) to the other party hereto
in accordance with Section 25. The Notice of Termination shall specify:

 

(a)
The termination provision of this Agreement relied upon;

 

(b)
To the extent applicable, the facts and circumstances claimed to provide a basis for termination of the Executive’s employment
under the provision so indicated; and

 

(c)
The applicable Termination Date.

 

4.6
Termination Date. The Executive’s “Termination Date” shall be:

 

(a)
If the Executive’s employment hereunder terminates on account of the Executive’s death, the date of the Executive’s
death;

 

(b)
If the Executive’s employment hereunder is terminated on account of the Executive’s Disability, the date that it is
determined that the Executive has a Disability;

 

(c)
If the Company terminates the Executive’s employment hereunder for Cause, the date the Notice of Termination is delivered
to the Executive;

 

(d)
If the Company terminates the Executive’s employment hereunder without Cause, the date specified in the Notice of Termination,
which shall be no less than 30 days following the date on which the Notice of Termination is delivered;

 

(e)
If the Executive resigns without Good Reason, the date specified in the Notice of Termination, which shall be no less than thirty
(30) days following the date on which the Notice of Termination is delivered; provided that in the event of the Executive’s
resignation without Good Reason, the Company may waive all or any part of the 30-day notice period for no consideration by giving
written notice to the Executive and for all purposes of this Agreement, the Executive’s Termination Date shall be the date
determined by the Company;

 

(f)
If the Executive terminates his employment hereunder with Good Reason, the date specified in the Executive’s Notice of Termination,
which shall be no less than thirty (30) days following the expiration of the Company’s cure period; and

 

    	 	9	 

     

    

 

(g)
If the Executive’s employment hereunder terminates because either party provides notice of non-renewal, the Renewal Date
immediately following the date on which the applicable party delivers notice of non-renewal.

 

Notwithstanding
anything contained herein, the Termination Date shall not occur until the date on which the Executive incurs a “separation
from service” within the meaning of Section 409A.

 

4.7
Resignation of All Other Positions. Upon termination of the Executive’s employment hereunder for any reason, the
Executive shall be deemed to have resigned upon the Termination Date from all positions that the Executive holds as an officer
or member of the Board (or a committee thereof) or of the Company or any of its affiliates.

 

4.8
Section 280G.

 

(a)
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 Payments”) constitute “parachute payments” within the meaning of Section
280G of the Code and would, but for this Section 5.9, be subject to the excise tax imposed under Section 4999 of the Code
(the “Excise Tax”), then such 280G Payments shall be reduced in a manner determined by the Company (by the
minimum possible amounts) that is consistent with the requirements of Section 409A until no amount payable to the Executive will
be subject to the Excise Tax. If two economically equivalent amounts are subject to reduction but are payable at different times,
the amounts shall be reduced (but not below zero) on a pro rata basis.

 

(b)
All calculations and determinations under this Section 5.9 shall be made by an independent accounting firm or independent
tax counsel appointed by the Company (the “Tax Counsel”) whose determinations shall be conclusive and binding
on the Company and the Executive for all purposes. For purposes of making the calculations and determinations required by this
Section 5.9, the Tax Counsel may rely on reasonable, good faith assumptions and approximations concerning the application
of Section 280G and Section 4999 of the Code. The Company and the Executive shall furnish the Tax Counsel with such information
and documents as the Tax Counsel may reasonably request in order to make its determinations under this Section 5.9. The
Company shall bear all costs the Tax Counsel may reasonably incur in connection with its services.

 

5.
Cooperation. The parties agree that certain
matters in which the Executive will be involved during the Employment Term may necessitate the Executive’s cooperation in
the future. Accordingly, following the termination of the Executive’s employment for any reason, to the extent reasonably
requested by the Board, the Executive shall cooperate with the Company in connection with matters arising out of the Executive’s
service to the Company; provided that, the Company shall make reasonable efforts to minimize disruption of the Executive’s
other activities. The Company shall reimburse the Executive for reasonable expenses incurred in connection with such cooperation
and, to the extent that the Executive is required to spend substantial time on such matters, the Company shall compensate the
Executive at an hourly rate no less than his Base Salary converted to an hourly rate as of his Termination Date.

 

    	 	10	 

     

    

 

6.
Confidential Information. The Executive
understands and acknowledges that during the Employment Term, he will have access to and learn about Confidential Information,
as defined below.

 

6.1
Confidential Information Defined.

 

(a)
Definition.

 

For
purposes of this Agreement, “Confidential Information” includes, but is not limited to, all information not
generally known to the public, in spoken, printed, electronic or any other form or medium, relating directly or indirectly to:
business processes, practices, methods, policies, plans, publications, documents, research, operations, services, strategies,
techniques, agreements, contracts, terms of agreements, transactions, potential transactions, negotiations, pending negotiations,
know-how, trade secrets, computer programs, computer software, applications, operating systems, software design, web design, work-in-process,
databases, manuals, records, articles, systems, material, sources of material, supplier information, vendor information, financial
information, results, accounting information, accounting records, legal information, marketing information, advertising information,
pricing information, credit information, design information, payroll information, staffing information, personnel information,
employee lists, supplier lists, vendor lists, developments, reports, internal controls, security procedures, graphics, drawings,
sketches, market studies, sales information, revenue, costs, formulae, notes, communications, algorithms, product or service plans,
designs, styles, models, ideas, inventions, unpublished patent applications, original works of authorship, discoveries, experimental
processes, experimental results, specifications, customer information, customer lists, client information, client lists, manufacturing
information, factory lists, distributor lists, and buyer lists of the Company, the Parent, their respective affiliates, or their
respective businesses or any existing or prospective customer, supplier, investor or other associated third party, or of any other
person or entity that has entrusted information to the Company or the Parent in confidence.

 

The
Executive understands that the above list is not exhaustive, and that Confidential Information also includes other information
that is marked or otherwise identified as confidential or proprietary, or that would otherwise appear to a reasonable person to
be confidential or proprietary in the context and circumstances in which the information is known or used.

 

The
Executive understands and agrees that Confidential Information includes information developed by him in the course of his employment
by the Company (including employment with the Company and its predecessors for periods prior to the Effective Date) as if the
Company furnished the same Confidential Information to the Executive in the first instance. Confidential Information shall not
include information that is (i) generally available to and known by the public or in the industry at the time of disclosure to
the Executive or (ii) is part of the Executive’s general skill and knowledge; provided that, such disclosure is through
no direct or indirect fault of the Executive or person(s) acting on the Executive’s behalf.

 

    	 	11	 

     

    

 

(b)
Company Creation and Use of Confidential Information.

 

The
Executive understands and acknowledges that the Company has invested, and continues to invest, substantial time, money, and specialized
knowledge into developing its resources, creating a customer base, generating customer and potential customer lists, training
its employees, and improving its offerings in the field of electric vehicle-related products and services. The Executive understands
and acknowledges that as a result of these efforts, the Company has created, and continues to use and create Confidential Information.
This Confidential Information provides the Company with a competitive advantage over others in the marketplace.

 

(c)
Disclosure and Use Restrictions.

 

The
Executive agrees and covenants: (i) to treat all Confidential Information as strictly confidential; (ii) not to directly or indirectly
disclose, publish, communicate, or make available Confidential Information, or allow it to be disclosed, published, communicated,
or made available, in whole or part, to any entity or person whatsoever (including other employees of the Company) not having
a need to know and authority to know and use the Confidential Information in connection with the business of the Company and,
in any event, not to anyone outside of the direct employ of the Company except as required in the performance of the Executive’s
authorized employment duties to the Company or with the prior consent of the Board acting on behalf of the Company in each instance
(and then, such disclosure shall be made only within the limits and to the extent of such duties or consent); and (iii) not to
access or use any Confidential Information, and not to copy any documents, records, files, media, or other resources containing
any Confidential Information, or remove any such documents, records, files, media, or other resources from the premises or control
of the Company, except as required in the performance of the Executive’s authorized employment duties to the Company or
with the prior consent of the Board acting on behalf of the Company in each instance (and then, such disclosure shall be made
only within the limits and to the extent of such duties or consent). Nothing herein shall be construed to prevent disclosure of
Confidential Information as may be required by applicable law or regulation, or pursuant to the valid order of a court of competent
jurisdiction or an authorized government agency, provided that the disclosure does not exceed the extent of disclosure required
by such law, regulation, or order. The Executive shall promptly provide written notice of any such order to the Board, unless
such notice is prohibited by law.

 

(d)
Notice of Immunity Under the Economic Espionage Act of 1996, as amended by the Defend Trade Secrets Act of 2016 (“DTSA”).
Notwithstanding any other provision of this Agreement:

 

(i)
The Executive will not be held criminally or civilly liable under any federal or state trade secret law for any disclosure of
a trade secret that:

 

(A)
is made (1) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney;
and (2) solely for the purpose of reporting or investigating a suspected violation of law; or

 

    	 	12	 

     

    

 

(B)
is made in a complaint or other document filed under seal in a lawsuit or other proceeding.

 

(ii)
If the Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, the Executive may
disclose the Company’s trade secrets to the Executive’s attorney and use the trade secret information in the court
proceeding if the Executive:

 

(A)
files any document containing trade secrets under seal; and

 

(B)
does not disclose trade secrets, except pursuant to court order.

 

The
Executive understands and acknowledges that his obligations under this Agreement with regard to any particular Confidential Information
shall commence immediately upon the Executive first having access to such Confidential Information (whether before or after he
began employment with the Company) and shall continue during and after his employment by the Company until such time as such Confidential
Information has become public knowledge other than as a result of the Executive’s breach of this Agreement or breach by
those acting in concert with the Executive or on the Executive’s behalf.

 

7.
Restrictive Covenants.

 

7.1
Acknowledgement. The Executive understands that the nature of the Executive’s position gives him access to and knowledge
of Confidential Information and places him in a position of trust and confidence with the Company. The Executive understands and
acknowledges that the services he provides to the Company are unique, special, or extraordinary and are fundamental to the Company’s
business.

 

The
Executive further understands and acknowledges that the Company’s ability to reserve these for the exclusive knowledge and
use of the Company is of competitive importance and commercial value to the Company, and that improper use or disclosure by the
Executive is likely to result in unfair or unlawful competitive activity.

 

7.2
Non-Competition. Because of the Company’s legitimate business interest as described herein and the good and valuable
consideration offered to the Executive, during the Employment Term and for the twelve (12) months following the termination of
the Employment Term, to run consecutively, beginning on the earlier of the (i) beginning of any notice period required by Section
5 or (ii) the last day of the Executive’s employment with the Company, for any reason or no reason and whether employment
is terminated at the option of the Executive or the Company, the Executive agrees and covenants not to engage in any Prohibited
Activity, within or directed to customers within the United States of America or within or directed to customers in any country
in which the Company provides or has provided services within the 12 months prior to expiration or termination of the Employment
Term, which prohibition is agreed to be appropriate in geographic scope due to the internet-based nature of the Company’s
business.

 

    	 	13	 

     

    

 

For
purposes of this Section 7, “Prohibited Activity” is activity in which the Executive contributes his
knowledge, directly or indirectly, in whole or in part, as an employee, employer, owner, operator, manager, advisor, consultant,
agent, employee, partner, director, stockholder, officer, volunteer, intern, or any other similar capacity to an entity engaged
in the same or substantially similar business as the Company as of the Termination Date, including those engaged in the business
of manufacturing, marketing, distributing and selling electric vehicles and related electric vehicle products or services, or
other primary business activities of Company so long as Executive is materially involved in such other primary business activities,
without the prior written approval of the Company.

 

Nothing
herein shall prohibit the Executive from purchasing or owning less than five percent (5%) of the publicly traded securities of
any corporation, provided that such ownership represents a passive investment and that the Executive is not a controlling person
of, or a member of a group that controls, such corporation.

 

This
Section 7 does not, in any way, restrict or impede the Executive from exercising protected rights to the extent that such
rights cannot be waived by agreement or from complying with any applicable law or regulation or a valid order of a court of competent
jurisdiction or an authorized government agency, provided that such compliance does not exceed that required by the law, regulation,
or order. The Executive shall promptly provide written notice of any such order to the Board, unless such notice is prohibited
by law.

 

7.3
Non-Solicitation of Employees. The Executive agrees and covenants not to directly or indirectly solicit, hire, recruit,
attempt to hire or recruit, or induce the termination of employment of any current employee of the Company, or any person who
has within the twelve months prior been an employee of the Company, in any case during a 12-month period, to run consecutively,
beginning on the last day of the Executive’s employment with the Company.

 

7.4
Non-Solicitation of Customers. The Executive understands and acknowledges that because of the Executive’s experience
with and relationship to the Company, he will have access to and learn about much or all of the Company’s customer information.
“Customer Information” includes, but is not limited to, names, phone numbers, addresses, e-mail addresses,
order history, order preferences, chain of command, pricing information, and other information identifying facts and circumstances
specific to the customer and relevant to Company sales or services.

 

The
Executive understands and acknowledges that loss of this customer relationship and/or goodwill will cause significant and irreparable
harm.

 

The
Executive agrees and covenants, during a 12-month period, to run consecutively, beginning on the last day of the Executive’s
employment with the Company, not to directly or indirectly solicit, contact (including but not limited to e-mail, regular mail,
express mail, telephone, fax, and instant message), attempt to contact, or meet with the Company’s current, former or prospective
customers for purposes of offering or accepting electric vehicle goods or services or other goods and services similar to or competitive
with those offered by the Company as its primary business activities.

 

    	 	14	 

     

    

 

8.
Non-Disparagement. The Executive agrees
and covenants that he will not at any time make, publish or communicate to any person or entity or in any public forum any defamatory
or disparaging remarks, comments, or statements concerning the Company, its affiliates, or their respective businesses, or any
of its employees, officers, and existing and prospective customers, suppliers, investors and other associated third parties.

 

This
Section 8 does not, in any way, restrict or impede the Executive from exercising protected rights to the extent that such
rights cannot be waived by agreement or from complying with any applicable law or regulation or a valid order of a court of competent
jurisdiction or an authorized government agency, provided that such compliance does not exceed that required by the law, regulation,
or order. The Executive shall promptly provide written notice of any such order to the Board, unless such notice is prohibited
by law.

 

9.
Acknowledgement. The Executive acknowledges
and agrees that the services to be rendered by him to the Company are of a special and unique character; that the Executive will
obtain knowledge and skill relevant to the Company’s industry, methods of doing business and marketing strategies by virtue
of the Executive’s employment; and that the restrictive covenants and other terms and conditions of this Agreement are reasonable
and reasonably necessary to protect the legitimate business interest of the Company.

 

The
Executive further acknowledges that the amount of his compensation reflects, in part, his obligations and the Company’s
rights under Section 6, Section 7, and Section 8 of this Agreement; that he has no expectation of any additional
compensation, royalties or other payment of any kind not otherwise referenced herein in connection herewith; and that he will
not be subject to undue hardship by reason of his full compliance with the terms and conditions of Section 6, Section 7,
and Section 8 of this Agreement or the Company’s enforcement thereof.

 

10.
Remedies. In the event of a breach or
threatened breach by the Executive of Section 6, Section 7, or Section 8 of this Agreement, the Executive
hereby consents and agrees that the Company shall be entitled to seek, in addition to other available remedies, a temporary or
permanent injunction or other equitable relief against such breach or threatened breach from any court of competent jurisdiction,
without the necessity of showing any actual damages or that money damages would not afford an adequate remedy, and without the
necessity of posting any bond or other security. The aforementioned equitable relief shall be in addition to, not in lieu of,
legal remedies, monetary damages, or other available forms of relief.

 

11.
Waiver of Jury Trial. ALL PARTIES TO THIS
AGREEMENT KNOW AND UNDERSTAND THAT THEY HAVE A CONSTITUTIONAL RIGHT TO A JURY TRIAL. THE PARTIES ACKNOWLEDGE THAT ANY DISPUTE
OR CONTROVERSY THAT MAY ARISE OUT OF THIS AGREEMENT WILL INVOLVE COMPLICATED AND DIFFICULT FACTUAL AND LEGAL ISSUES.

 

    	 	15	 

     

    

 

THE
PARTIES HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OF THE CONTEMPLATED
TRANSACTIONS, WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE. THE PARTIES AGREE
THAT ANY OF THEM MAY FILE A COPY OF THIS PARAGRAPH WITH ANY COURT AS WRITTEN EVIDENCE OF THE KNOWING, VOLUNTARY AND BARGAINED-FOR
AGREEMENT AMONG THE PARTIES IRREVOCABLY TO WAIVE TRIAL BY JURY AND THAT ANY PROCEEDING WHATSOEVER BETWEEN THEM RELATING TO THIS
AGREEMENT OR ANY OF THE CONTEMPLATED TRANSACTIONS SHALL INSTEAD BE TRIED IN A COURT OF COMPETENT JURISDICTION BY A JUDGE SITTING
WITHOUT A JURY.

 

THE
PARTIES INTEND THIS WAIVER OF THE RIGHT TO A JURY TRIAL BE AS BROAD AS POSSIBLE. BY THEIR SIGNATURES BELOW, THE PARTIES
PROMISE, WARRANT AND REPRESENT THAT THEY WILL NOT PLEAD FOR, REQUEST OR OTHERWISE SEEK TO HAVE A JURY TO RESOLVE ANY AND ALL DISPUTES
THAT MAY ARISE BY, BETWEEN OR AMONG THEM.

 

12.
Proprietary Rights.

 

12.1
Work Product. The Executive acknowledges and agrees that all right, title, and interest in and to all writings, works of
authorship, technology, inventions, discoveries, processes, techniques, methods, ideas, concepts, research, proposals, materials,
and all other work product of any nature whatsoever, that are created, prepared, produced, authored, edited, amended, conceived,
or reduced to practice by the Executive individually or jointly with others during the period of his employment by the Company
and relate in any way to the electric vehicle business or other primary business activities of the Company, or contemplated business,
products, activities, research, or development of the Company or result from any work performed by the Executive for the Company
(in each case, regardless of when or where prepared or whose equipment or other resources is used in preparing the same), all
rights and claims related to the foregoing, and all printed, physical and electronic copies, and other tangible embodiments thereof
(collectively, “Work Product”), as well as any and all rights in and to US and foreign (a) patents, patent
disclosures and inventions (whether patentable or not), (b) trademarks, service marks, trade dress, trade names, logos, corporate
names, and domain names, and other similar designations of source or origin, together with the goodwill symbolized by any of the
foregoing, (c) copyrights and copyrightable works (including computer programs), and rights in data and databases, (d) trade secrets,
know-how, and other confidential information, and (e) all other intellectual property rights, in each case whether registered
or unregistered and including all registrations and applications for, and renewals and extensions of, such rights, all improvements
thereto and all similar or equivalent rights or forms of protection in any part of the world (collectively, “Intellectual
Property Rights”), shall be the sole and exclusive property of the Company. For the sake of clarity, Work Product and
Intellectual Property Rights do not include work product created, prepared, produced, authored, edited, amended, conceived or
reduced to practice, either prior to, during or after the Term, relating to Executive’s Pre-Existing Activities.

 

    	 	16	 

     

    

 

For
purposes of this Agreement, “Work Product” includes Company information, including plans, publications, research,
strategies, techniques, agreements, documents, contracts, terms of agreements, negotiations, know-how, computer programs, computer
applications, software design, web design, work in process, databases, manuals, results, developments, reports, graphics, drawings,
sketches, market studies, formulae, notes, communications, algorithms, product or service plans, product or service designs, styles,
models, audiovisual programs, inventions, unpublished patent applications, original works of authorship, discoveries, experimental
processes, experimental results, specifications, customer information, client information, customer lists, client lists, supplier
lists, marketing information, advertising information, and sales information.

 

12.2
Work Made for Hire; Assignment. The Executive acknowledges that, by reason of being employed by the Company at the relevant
times, to the extent permitted by law, all of the Work Product consisting of copyrightable subject matter is “work made
for hire” as defined in 17 U.S.C. § 101 and such copyrights are therefore owned by the Company. To the extent that
the foregoing does not apply, the Executive hereby irrevocably assigns to the Company, for no additional consideration, the Executive’s
entire right, title, and interest in and to all Work Product and Intellectual Property Rights therein, including the right to
sue, counterclaim, and recover for all past, present, and future infringement, misappropriation, or dilution thereof, and all
rights corresponding thereto throughout the world. Nothing contained in this Agreement shall be construed to reduce or limit the
Company’s rights, title, or interest in any Work Product or Intellectual Property Rights so as to be less in any respect
than that the Company would have had in the absence of this Agreement.

 

12.3
Further Assurances; Power of Attorney. During and after his employment, the Executive agrees to reasonably cooperate with
the Company to (a) apply for, obtain, perfect, and transfer to the Company the Work Product as well as any and all Intellectual
Property Rights in the Work Product in any jurisdiction in the world; and (b) maintain, protect and enforce the same, including,
without limitation, giving testimony and executing and delivering to the Company any and all applications, oaths, declarations,
affidavits, waivers, assignments, and other documents and instruments as shall be requested by the Company. The Executive hereby
irrevocably grants the Company power of attorney to execute and deliver any such documents on the Executive’s behalf in
his name and to do all other lawfully permitted acts to transfer the Work Product to the Company and further the transfer, prosecution,
issuance, and maintenance of all Intellectual Property Rights therein, to the full extent permitted by law, if the Executive does
not promptly cooperate with the Company’s request (without limiting the rights the Company shall have in such circumstances
by operation of law). The power of attorney is coupled with an interest and shall not be affected by the Executive’s subsequent
incapacity.

 

12.4
No License. The Executive understands that this Agreement does not, and shall not be construed to, grant the Executive
any license or right of any nature with respect to any Work Product or Intellectual Property Rights or any Confidential Information,
materials, software, or other tools made available to him by the Company.

 

    	 	17	 

     

    

 

13.
Security.

 

13.1
Security and Access. The Executive agrees and covenants (a) to comply with all Company security policies and procedures
as in force from time to time (“Facilities and Information Technology Resources”); (b) not to access or use
any Facilities and Information Technology Resources except as authorized by the Company; and (iii) not to access or use any Facilities
and Information Technology Resources in any manner after the termination of the Executive’s employment by the Company, whether
termination is voluntary or involuntary. The Executive agrees to notify the Company promptly in the event he learns of any violation
of the foregoing by others, or of any other misappropriation or unauthorized access, use, reproduction, or reverse engineering
of, or tampering with any Facilities and Information Technology Resources or other Company property or materials by others.

 

13.2
Exit Obligations. Upon (a) voluntary or involuntary termination of the Executive’s employment or (b) the Company’s
request at any time during the Executive’s employment, the Executive shall (i) provide or return to the Company any and
all Company property, including without limitation keys, key cards, access cards, identification cards, security devices, employer
credit cards, network access devices, computers, cell phones, smartphones, PDAs, pagers, equipment, manuals, reports, files, books,
compilations, Work Product, e-mail messages, recordings, tapes, disks, thumb drives or other removable information storage devices,
hard drives and data and all documents and materials belonging to the Company or the Parent and stored in any fashion, including
but not limited to those that constitute or contain any Confidential Information or Work Product, that are in the possession or
control of the Executive, whether they were provided to the Executive by the Company or any of its business associates or created
by the Executive in connection with his employment by the Company; and (ii) delete or destroy all copies of any such documents
and materials not returned to the Company that remain in the Executive’s possession or control, including those stored on
any non-Company devices, networks, storage locations, and media in the Executive’s possession or control.

 

14.
Publicity. The Executive acknowledges that he
will be the primary public representative of the Company, and that publicity and public-facing activities will be a primary job
responsibility of Executive. Accordingly, while Company will use its good faith efforts to consult with Executive and obtain Executive’s
input before any such uses or displays, Executive hereby consents, to any and all uses and displays, by the Company and its agents,
representatives and licensees, that are in the Company’s reasonable discretion (i) helpful or useful in connection with
the promotion of Company’s business and (ii) do not portray the Executive in an unflattering or negative light, of the Executive’s
name, voice, likeness, image, appearance, and biographical information in, on or in connection with any pictures, photographs,
audio and video recordings, digital images, websites, television programs and advertising, other advertising and publicity, sales
and marketing brochures, books, magazines, other publications, CDs, DVDs, tapes, and all other printed and electronic forms and
media throughout the world, at any time during or after the period of his employment by the Company, for all legitimate commercial
and business purposes of the Company (“Permitted Uses”) without further consent from or royalty, payment, or
other compensation to the Executive. The Executive hereby forever waives and releases the Company and its directors, officers,
employees, and agents from any and all claims, actions, damages, losses, costs, expenses, and liability of any kind, arising under
any legal or equitable theory whatsoever at any time during or after the period of his employment by the Company, arising directly
or indirectly from the Company’s and its agents’, representatives’, and licensees’ exercise of their rights
in connection with any Permitted Uses.

 

    	 	18	 

     

    

 

15.
Governing Law; Jurisdiction and Venue.
This Agreement, for all purposes, shall be construed in accordance with the laws of the State of Texas, without regard to conflicts
of law principles. Any action or proceeding by either of the parties to enforce this Agreement shall be brought only in a state
or federal court located in the State of Texas, County of Travis. The parties hereby irrevocably submit to the exclusive jurisdiction
of such courts and waive the defense of inconvenient forum to the maintenance of any such action or proceeding in such venue.

 

16.
Entire Agreement. This Agreement (together
with the documents referenced herein, including without limitation, the bonus plan, LTIP, equity award agreements) contains all
of the understandings and representations between the Executive and the Company pertaining to the subject matter hereof and supersedes
all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect
to such subject matter. The parties mutually agree that the Agreement can be specifically enforced in court and can be cited as
evidence in legal proceedings alleging breach of the Agreement.

 

17.
Modification and Waiver. No provision
of this Agreement may be amended or modified unless such amendment or modification is agreed to in writing and signed by the Executive
and by a majority of the Board. No waiver by either of the parties of any breach by the other party hereto of any condition or
provision of this Agreement to be performed by the other party hereto shall be deemed a waiver of any similar or dissimilar provision
or condition at the same or any prior or subsequent time, nor shall the failure of or delay by either of the parties in exercising
any right, power, or privilege hereunder operate as a waiver thereof to preclude any other or further exercise thereof or the
exercise of any other such right, power, or privilege.

 

18.
Severability. Should any provision of
this Agreement be held by a court of competent jurisdiction to be enforceable only if modified, or if any portion of this Agreement
shall be held as unenforceable and thus stricken, such holding shall not affect the validity of the remainder of this Agreement,
the balance of which shall continue to be binding upon the parties with any such modification to become a part hereof and treated
as though originally set forth in this Agreement.

 

The
parties further agree that any such court is expressly authorized to modify any such unenforceable provision of this Agreement
in lieu of severing such unenforceable provision from this Agreement in its entirety, whether by rewriting the offending provision,
deleting any or all of the offending provision, adding additional language to this Agreement, or by making such other modifications
as it deems warranted to carry out the intent and agreement of the parties as embodied herein to the maximum extent permitted
by law.

 

The
parties expressly agree that this Agreement as so modified by the court shall be binding upon and enforceable against each of
them. In any event, should one or more of the provisions of this Agreement be held to be invalid, illegal, or unenforceable in
any respect, such invalidity, illegality, or unenforceability shall not affect any other provisions hereof, and if such provision
or provisions are not modified as provided above, this Agreement shall be construed as if such invalid, illegal, or unenforceable
provisions had not been set forth herein.

 

    	 	19	 

     

    

 

19.
Captions. Captions and headings of the
sections and paragraphs of this Agreement are intended solely for convenience and no provision of this Agreement is to be construed
by reference to the caption or heading of any section or paragraph.

 

20.
Counterparts. This Agreement may be executed
in separate counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and
the same instrument.

 

21.
Tolling. Should the Executive violate
any of the terms of the restrictive covenant obligations articulated herein, the obligation at issue will run from the first date
on which the Executive ceases to be in violation of such obligation.

 

22.
Section 409A.

 

22.1
General Compliance. This Agreement is intended to comply with Section 409A or an exemption thereunder and shall be construed
and administered in accordance with Section 409A. Notwithstanding any other provision of this Agreement, payments provided under
this Agreement may only be made upon an event and in a manner that complies with Section 409A or an applicable exemption. Any
payments under this Agreement that may be excluded from Section 409A either as separation pay due to an involuntary separation
from service or as a short-term deferral shall be excluded from Section 409A to the maximum extent possible. For purposes of Section
409A, each installment payment provided under this Agreement shall be treated as a separate payment. Any payments to be made under
this Agreement upon a termination of employment shall only be made upon a “separation from service” under Section
409A. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement
comply with Section 409A, and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest,
or other expenses that may be incurred by the Executive on account of non-compliance with Section 409A.

 

22.2
Specified Employees. Notwithstanding any other provision of this Agreement, if any payment or benefit provided to the Executive
in connection with his termination of employment is determined to constitute “nonqualified deferred compensation”
within the meaning of Section 409A and the Executive is determined to be a “specified employee” as defined in Section
409A(a)(2)(b)(i), then such payment or benefit shall not be paid until the first payroll date to occur following the six-month
anniversary of the Termination Date or, if earlier, on the Executive’s death (the “Specified Employee Payment Date”).
The aggregate of any payments that would otherwise have been paid before the Specified Employee Payment Date and interest on such
amounts calculated based on the applicable federal rate published by the Internal Revenue Service for the month in which the Executive’s
separation from service occurs shall be paid to the Executive in a lump sum on the Specified Employee Payment Date and thereafter,
any remaining payments shall be paid without delay in accordance with their original schedule.

 

    	 	20	 

     

    

 

22.3
Reimbursements. To the extent required by Section 409A, each reimbursement or in-kind benefit provided under this Agreement
shall be provided in accordance with the following:

 

(a)
the amount of expenses eligible for reimbursement, or in-kind benefits provided, during each calendar year cannot affect the expenses
eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year;

 

(b)
any reimbursement of an eligible expense shall be paid to the Executive on or before the last day of the calendar year following
the calendar year in which the expense was incurred; and

 

(c)
any right to reimbursements or in-kind benefits under this Agreement shall not be subject to liquidation or exchange for another
benefit.

 

22.4
Tax Gross-ups. Any tax gross-up payments provided under this Agreement shall be paid to the Executive on or before December
31 of the calendar year immediately following the calendar year in which the Executive remits the related taxes.

 

23.
Notification to Subsequent Employer. When
the Executive’s employment with the Company terminates, the Executive agrees to notify any subsequent employer of the restrictive
covenants sections contained in this Agreement for a period of 1 year following his termination of employment. In addition, during
such 1-year post-termination period, the Executive will also deliver a copy of such notice to the Company before the Executive
commences employment with any subsequent employer. In addition, the Executive expressly authorizes the Company to provide a copy
of the restrictive covenants sections of this Agreement to third parties, including but not limited to, the Executive’s
subsequent, anticipated, or possible future employer, during the 1-year period following his termination.

 

24.
Successors and Assigns. This Agreement
is personal to the Executive and shall not be assigned by the Executive. Any purported assignment by the Executive shall be null
and void from the initial date of the purported assignment. The Company may assign this Agreement to any successor or assign (whether
direct or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all of the business or assets of
the Company. This Agreement shall inure to the benefit of the Company and permitted successors and assigns.

 

25.
Notice. Notices and all other communications
provided for in this Agreement shall be in writing and shall be delivered personally or sent by registered or certified mail,
return receipt requested, or by overnight carrier to the parties at the addresses set forth below (or such other addresses as
specified by the parties by like notice):

 

	 	If
    to the Company:
	 	 
	 	Austin
    EV, Inc.
	 	Attention:
    Rod Keller, CEO
	 	3267
    Bee Caves Rd., Ste. 107-322
	 	Austin,
    Texas 78746

 

And
a required copy to the Company’s then-current registered agent as shown in the records of the Texas Secretary of State.

 

    	 	21	 

     

    

 

	 	If
    to the Executive:
	 	 
	 	Curt
    Smith
	 	 ______________________
	 	 ______________________
	 	 ______________________

 

26.
Representations of the Executive. The
Executive represents and warrants to the Company that:

 

The
Executive’s acceptance of employment with the Company and the performance of his duties hereunder will not conflict with
or result in a violation of, a breach of, or a default under any contract, agreement, or understanding to which he is a party
or is otherwise bound.

 

The
Executive’s acceptance of employment with the Company and the performance of his duties hereunder will not violate any non-solicitation,
non-competition, or other similar covenant or agreement of a prior employer.

 

27.
Withholding. The Company shall have the
right to withhold from any amount payable hereunder any Federal, state, and local taxes in order for the Company to satisfy any
withholding tax obligation it may have under any applicable law or regulation.

 

28.
Survival. Upon the expiration or other
termination of this Agreement, the respective rights and obligations of the parties hereto shall survive such expiration or other
termination to the extent necessary to carry out the intentions of the parties under this Agreement.

 

29.
Acknowledgement of Full Understanding.
THE EXECUTIVE ACKNOWLEDGES AND AGREES THAT HE HAS FULLY READ, UNDERSTANDS AND VOLUNTARILY ENTERS INTO THIS AGREEMENT. THE EXECUTIVE
ACKNOWLEDGES AND AGREES THAT HE HAS HAD AN OPPORTUNITY TO ASK QUESTIONS AND CONSULT WITH AN ATTORNEY OF HIS CHOICE BEFORE SIGNING
THIS AGREEMENT.

 

[EXECUTION
PAGE FOLLOWS]

 

    	 	22	 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement to be effective as of the date first above written.

 

	 	COMPANY:
	 	 
	 	Austin
    EV, Inc.
	 	 	 
	 	By:	/s/
    Rod Keller
	 	Name:	Rod
    Keller
	 	Title:	CEO

 

	EXECUTIVE:	 
	 	 
	/s/
    Curt Smith	 
	Curt
    Smith 	 

 

    	 	23

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