Document:

Exhibit
10.18

 

Austin
EV, INC.

2017
LONG TERM INCENTIVE PLAN

 

STOCK
OPTION AGREEMENT

 

THIS
STOCK OPTION AGREEMENT (this “Agreement”) is made and entered into as of the Date of Grant set forth
in the Notice of Grant of Stock Option (“Notice of Grant”) by and between Austin EV, Inc., a Texas corporation
(the “Company”), and you (the “Optionee”), with your acceptance of all the
terms and conditions of this Agreement and the Plan evidenced by your execution of the Notice of Grant:

 

WHEREAS,
the Company has adopted the AUSTIN EV. INC. 2017 LONG TERM INCENTIVE PLAN, as it may be amended from time to time (the “Plan”),
under which the Company is authorized to grant stock options to certain employees and service providers of the Company;

 

WHEREAS,
the Company, as an incentive for you to enter into and/or continue in your service to the Company and to materially contribute
to the success of the Company, agrees to grant you an option to acquire an interest in the Company through the purchase of shares
of stock of the Company;

 

WHEREAS,
a copy of the Plan has been furnished to you and shall be deemed a part of this Agreement as if fully set forth herein and terms
capitalized but not defined herein shall have the meaning set forth in the Plan; and

 

WHEREAS,
you desire to accept the option granted pursuant to the Agreement;

 

NOW,
THEREFORE, in consideration of the mutual covenants set forth herein and for other valuable consideration hereinafter set
forth, the parties agree as follows:

 

1.
The Grant. Subject to the conditions set forth below, the Company hereby grants to you, effective as of the Date of Grant
set forth in the Notice of Grant, as a matter of separate inducement and not in lieu of any salary or other compensation for your
services for the Company, the right and option to purchase (the “Option”), in accordance with the terms
and conditions set forth herein and in the Plan, an aggregate of the number of shares of Stock set forth in the Notice of Grant
(the “Option Shares”), at the Exercise Price set forth in the Notice of Grant.

 

2.
Exercise.

 

(a)
Option Shares shall be deemed “Nonvested Shares” unless and until they have become “Vested
Shares.” The Option shall in all events terminate at the close of business on the tenth (10th) anniversary of the
date of this Agreement (the “Expiration Date”). Subject to other terms and conditions set forth herein,
these Options will be vested and will be Vested Shares in ratable quarterly installments over a period of three (3) years from
the date of grant, subject to your continued employment with the Company as of each applicable vesting date. Notwithstanding the
foregoing, however, if within the three-month period preceding or the twelve-month period following a Change in Control, as such
term is defined in the Plan, your services are terminated by the Company or an affiliate without Cause or by you for Good Reason
(if such term is set forth in your employment agreement with the Company), the unvested portion of the Option shall become immediately
vested as of the effective date of the termination of your services.

 

    	 	1	 

     

    

 

(b)
Subject to the relevant provisions and limitations contained herein and in the Plan, you may exercise the Option to purchase all
or a portion of the applicable number of Vested Shares at any time prior to the termination of the Option pursuant to this Agreement.
In no event shall you be entitled to exercise the Option for any Nonvested Shares or for a fraction of a Vested Share.

 

(c)
Any exercise by you of the Option shall be in writing addressed to the Secretary of the Company at its principal place of business
pursuant to a “Notice of Stock Option Exercise” executed by you (or other person entitled to exercise
the Option as provided hereunder) and must include payment of the aggregate purchase price for shares purchased pursuant to the
exercise.

 

(d)
Payment of the Exercise Price shall be made in cash, by certified or official bank check or by wire transfer of immediately available
funds. However, solely with the approval of the Committee, in lieu of cash, payment of the Exercise Price may be made (i) by delivery
to the Company of a number of shares of Stock having a Fair Market Value as of the date of exercise equal to the Exercise Price,
(ii) by the delivery of a note, or (iii) by net issue exercise, pursuant to which the Company will issue to you a number of shares
of Stock as to which the Option is exercised, less a number of shares with a Fair Market Value as of the date of exercise equal
to the Exercise Price.

 

(e)
If you are on leave of absence for any reason, the Company may, in its sole discretion, determine that you will be considered
to still be in the employ of or providing services for the Company, provided that rights to the Option will be limited to the
extent to which those rights were earned or vested when the leave of absence began.

 

(f)
The terms and provisions of the employment agreement, if any, between you and the Company or any Subsidiary (the “Employment
Agreement”) that relate to or affect the Option are incorporated herein by reference. Notwithstanding the foregoing
provisions of this Section 2 or Section 3, in the event of any conflict or inconsistency between the terms and conditions of this
Section 2 or Section 3 and the terms and conditions of an Employment Agreement, the terms and conditions of the Employment Agreement
shall be controlling.

 

3.
Effect of Termination of Service on Exercisability. Except as provided in Sections 6 and 7 or an Employment Agreement,
this Option may be exercised only while you continue to perform services for the Company or any Subsidiary and will terminate
and cease to be exercisable upon termination of your service, except as follows:

 

(a)
Termination on Account of Disability. If your employment or service with the Company or any Subsidiary terminates by reason
of disability (within the meaning of section 22(e)(3) of the Code), this Option may be exercised by you (or your estate or the
person who acquires this Option by will or the laws of descent and distribution or otherwise by reason of your death) at any time
during the period ending on the earlier to occur of (i) the date that is one year following such termination or (ii) the Expiration
Date, but only to the extent this Option was exercisable for Vested Shares as of the date your service so terminates.

 

    	 	2	 

     

    

 

(b)
Termination on Account of Death. If you cease to be employed or to perform services for the Company or any Subsidiary due
to your death, your estate, or the person who acquires this Option by will or the laws of descent and distribution or otherwise
by reason of your death, may exercise this Option at any time during the period ending on the earlier to occur of (i) the date
that is one year following your death or (ii) the Expiration Date, but only to the extent this Option was exercisable for Vested
Shares as of the date of your death.

 

(c)
Termination Not For Cause. If your employment or service with the Company or any Subsidiary terminates for any reason other
than as described in Sections 3(a) or (b), unless such employment or service is terminated for Cause (as defined below), this
Option may be exercised by you at any time during the period ending on the earlier to occur of (i) the date that is three months
following your termination or (ii) the Expiration Date, or by your estate (or the person who acquires this Option by will or the
laws of descent and distribution or otherwise by reason of your death) during a period of one year following your death if you
die during such three-month period, but in each such case only to the extent this Option was exercisable for Vested Shares as
of the date of your termination. For purposes of this Agreement, “Cause” means (i) “cause”
as defined in your Employment Agreement or (ii) in the absence of such an agreement or such a definition in such agreement, “Cause”
will mean a determination by the Committee that you: (A) have engaged in personal dishonesty, willful violation of any law, rule,
or regulation (other than minor traffic violations or similar offenses), or breach of fiduciary duty involving personal profit;
(B) have failed to satisfactorily perform your duties and responsibilities for the Company or any Affiliate; (C) have been convicted
of, or plead nolo contendere to, any felony or a crime involving moral turpitude; (D) have engaged in negligence or willful
misconduct in the performance of your duties, including but not limited to willfully refusing without proper legal reason to perform
your duties and responsibilities; (E) have materially breached any corporate policy or code of conduct established by the Company
or any Subsidiary as such policies or codes may be adopted from time to time; (F) have violated the terms of any confidentiality,
nondisclosure, intellectual property, nonsolicitation, noncompetition, proprietary information or inventions agreement, or any
other agreement between you and the Company or any Subsidiary related to your service with the Company or any Subsidiary; or (G)
have engaged in conduct that is likely to have a deleterious affect on the Company or any Subsidiary or their legitimate business
interests, including, but not limited to, their goodwill and public image.

 

4.
Transferability. The Option, and any rights or interests therein will be transferable by you only to the extent approved
by the Committee in conformance with Section 10(b) of the Plan.

 

    	 	3	 

     

    

 

5.
Compliance with Securities Law. Notwithstanding any provision of this Agreement to the contrary, the grant of the Option
and the issuance of Stock will be subject to compliance with all applicable requirements of federal, state, and foreign securities
laws and with the requirements of any stock exchange or market system upon which the Stock may then be listed. The Option may
not be exercised if the issuance of shares of Stock upon exercise would constitute a violation of any applicable federal, state,
or foreign securities laws or other law or regulations or the requirements of any stock exchange or market system upon which the
Stock may then be listed. In addition, the Option may not be exercised unless (1) a registration statement under the Securities
Act of 1933, as amended (the “Act”), is at the time of exercise of the Option in effect with respect
to the shares issuable upon exercise of the Option or (2) in the opinion of legal counsel to the Company, the shares issuable
upon exercise of the Option may be issued in accordance with the terms of an applicable exemption from the registration requirements
of the Act. YOU ARE CAUTIONED THAT THE OPTION MAY NOT BE EXERCISED UNLESS THE FOREGOING CONDITIONS ARE SATISFIED. ACCORDINGLY,
YOU MAY NOT BE ABLE TO EXERCISE THE OPTION WHEN DESIRED EVEN THOUGH THE OPTION IS VESTED. The inability of the Company to obtain
from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel to be necessary
to the lawful issuance and sale of any shares subject to the Option will relieve the Company of any liability in respect of the
failure to issue or sell such shares as to which such requisite authority has not been obtained. As a condition to the exercise
of the Option, the Company may require you to satisfy any qualifications that may be necessary or appropriate to evidence compliance
with any applicable law or regulation and to make any representation or warranty with respect to such compliance as may be requested
by the Company.

 

6.
Extension if Exercise Prevented by Law. Notwithstanding Section 3, if the exercise of the Option within the applicable
time periods set forth in Section 3 is prevented by the provisions of Section 5, the Option will remain exercisable until 30 days
after the date you are notified by the Company that the Option is exercisable, but in any event no later than the Expiration Date.
The Company makes no representation as to the tax consequences of any such delayed exercise. You should consult with your own
tax advisor as to the tax consequences of any such delayed exercise.

 

7.
Extension if You are Subject to Section 16(b). Notwithstanding Section 3, if a sale within the applicable time periods
set forth in Section 3 of shares acquired upon the exercise of the Option would subject you to suit under Section 16(b) of the
Securities Exchange Act of 1934, as amended, the Option will remain exercisable until the earliest to occur of (1) the 10th day
following the date on which a sale of such shares by you would no longer be subject to such suit, (2) the 190th day after your
termination of service with the Company and any Subsidiary, or (3) the Expiration Date. The Company makes no representation as
to the tax consequences of any such delayed exercise. You should consult with your own tax advisor as to the tax consequences
of any such delayed exercise.

 

    	 	4	 

     

    

 

8.
Withholding Taxes. The Committee may, in its discretion, require you to pay to the Company at the time of the exercise
of an Option or thereafter, the amount that the Committee deems necessary to satisfy the Company’s current or future obligation
to withhold federal, state or local income or other taxes that you incur by exercising an Option. In connection with such an event
requiring tax withholding, you may (a) direct the Company to withhold from the shares of Stock to be issued to you the number
of shares necessary to satisfy the Company’s obligation to withhold taxes, that determination to be based on the shares’
Fair Market Value as of the date of exercise; (b) deliver to the Company sufficient shares of Stock (based upon the Fair Market
Value as of the date of such delivery) to satisfy the Company’s tax withholding obligation; or (c) deliver sufficient cash
to the Company to satisfy its tax withholding obligations. If you elect to use a Stock withholding feature you must make the election
at the time and in the manner that the Committee prescribes. The Committee may, at its sole option, deny your request to satisfy
withholding obligations through shares of Stock instead of cash. In the event the Committee subsequently determines that the aggregate
Fair Market Value (as determined above) of any shares of Stock withheld or delivered as payment of any tax withholding obligation
is insufficient to discharge that tax withholding obligation, then you shall pay to the Company, immediately upon the Committee’s
request, the amount of that deficiency in the form of payment requested by the Committee.

 

9.
Status of Stock. With respect to the status of the Stock, at the time of execution of this Agreement you understand and
agree to all of the following:

 

(a)
You understand that at the time of the execution of this Agreement the shares of Stock to be issued upon exercise of this Option
have not been registered under the Act or any state securities law and that the Company does not currently intend to effect any
such registration. In the event exemption from registration under the Act is available upon an exercise of this Option, you (or
such other person permitted to exercise this Option if applicable), if requested by the Company to do so, will execute and deliver
to the Company in writing an agreement containing such provisions as the Company may require to ensure compliance with applicable
securities laws.

 

(b)
You agree that the shares of Stock that you may acquire by exercising this Option will be acquired for investment without a view
to distribution, within the meaning of the Act, and will not be sold, transferred, assigned, pledged, or hypothecated in the absence
of an effective registration statement for the shares under the Act and applicable state securities laws or an applicable exemption
from the registration requirements of the Act and any applicable state securities laws. You also agree that the shares of Stock
that you may acquire by exercising this Option will not be sold or otherwise disposed of in any manner that would constitute a
violation of any applicable securities laws, whether federal or state.

 

(c)
You agree that (1) the Company may refuse to register the transfer of the shares of Stock purchased under this Option on the stock
transfer records of the Company if such proposed transfer would in the opinion of counsel satisfactory to the Company constitute
a violation of any applicable securities law and (2) the Company may give related instructions to its transfer agent, if any,
to stop registration of the transfer of the shares of Stock purchased under this Option.

 

    	 	5	 

     

    

 

10.
Adjustments. The terms of the Option shall be subject to adjustment from time to time, in accordance with the following
provisions:

 

(a)
If at any time, or from time to time, the Company shall subdivide as a whole (by reclassification, by a Stock split, by the issuance
of a distribution on Stock payable in Stock or otherwise) the number of shares of Stock then outstanding into a greater number
of shares of Stock, then (i) the number of shares of Stock (or other kind of securities) that may be acquired under the Option
shall be increased proportionately and (ii) the Exercise Price for each share of Stock (or other kind of shares or securities)
subject to the then outstanding Option shall be reduced proportionately, without changing the aggregate purchase price or value
as to which the outstanding Option remains exercisable or subject to restrictions.

 

(b)
If at any time, or from time to time, the Company shall consolidate as a whole (by reclassification, reverse Stock split or otherwise)
the number of shares of Stock then outstanding into a lesser number of shares of Stock, (i) the number of shares of Stock (or
other kind of shares or securities) that may be acquired under the Option shall be decreased proportionately and (ii) the Exercise
Price for each share of Stock (or other kind of shares or securities) subject to the then outstanding Option shall be increased
proportionately, without changing the aggregate purchase price or value as to which the outstanding Option remains exercisable
or subject to restrictions.

 

(c)
Whenever the number of shares of Stock subject to the Option and the price for each share of Stock subject to the Option are required
to be adjusted as provided in this Section 10, the Committee shall promptly prepare a notice setting forth, in reasonable detail,
the event requiring adjustment, the amount of the adjustment, the method by which such adjustment was calculated, and the change
in price and the number of shares of Stock, other securities, cash, or property purchasable by you pursuant to the exercise of
the Option or subject to the Option after giving effect to the adjustments. The Committee shall promptly give you such a notice.

 

(d)
Adjustments under this Section 10 shall be made by the Committee, and its determination as to what adjustments shall be made and
the extent thereof shall be final, binding, and conclusive. No fractional interest shall be issued under the Plan on account of
any such adjustments.

 

11.
Right of First Refusal. This Option and any Stock that may be acquired pursuant hereto is subject to the Right of First
Refusal and Purchase Option provisions of Sections 10(c) and 10(d) of the Plan.

 

12.
Lock-Up Period. You hereby agrees that, if so requested by the Company or any representative of the underwriters (the “Managing
Underwriter”) in connection with any registration of the offering of any securities of the Company under the Act,
you will not sell or otherwise transfer any Option Shares or other securities of the Company during the 180-day period (or such
other period as may be requested in writing by the Managing Underwriter and agreed to in writing by the Company) (the “Market
Standoff Period”) following the effective date of a registration statement of the Company filed under the Act. Such
restriction will apply only to the first registration statement of the Company to become effective under the Act that includes
securities to be sold on behalf of the Company to the public in an underwritten public offering under the Act. The Company may
impose stop-transfer instructions with respect to securities subject to the foregoing restrictions until the end of such Market
Standoff Period.

 

    	 	6	 

     

    

 

13.
Shareholder Agreement. The Committee may, in its sole discretion, condition the delivery of Stock pursuant to the exercise
of this Option upon your entering into a shareholder agreement in such form as approved from time to time by the Board.

 

14.
Legends. The Company may at any time place legends, referencing any restrictions imposed on the shares pursuant to Sections
9, 11 or 12 of this Agreement, and any applicable federal, state or foreign securities law restrictions, on all certificates representing
shares of Stock subject to the provisions of this Agreement.

 

15.
Notice of Sales Upon Disqualifying Disposition of ISO. If the Option is designated as an Incentive Stock Option in the
Notice of Grant, you must comply with the provisions of this Section. You must promptly notify the Chief Executive Officer of
the Company if you dispose of any of the shares acquired pursuant to the Option within one year after the date you exercise all
or part of the Option or within two years after the Date of Grant. Until such time as you dispose of such shares in a manner consistent
with the provisions of this Agreement, unless otherwise expressly authorized by the Company, you must hold all shares acquired
pursuant to the Option in your name (and not in the name of any nominee) for the one-year period immediately after the exercise
of the Option and the two-year period immediately after the Date of Grant. At any time during the one-year or two-year periods
set forth above, the Company may place a legend on any certificate representing shares acquired pursuant to the Option requesting
the transfer agent for the Company’s stock to notify the Company of any such transfers. Your obligation to notify the Company
of any such transfer will continue notwithstanding that a legend has been placed on the certificate pursuant to the preceding
sentence.

 

16.
Right to Terminate Services. Nothing contained in this Agreement shall confer upon you the right to continue in the employ
of or performing services for the Company or any Subsidiary, or interfere in any way with the rights of the Company or any Subsidiary
to terminate your employment or service relationship at any time.

 

17.
Furnish Information. You agree to furnish to the Company all information requested by the Company to enable it to comply
with any reporting or other requirement imposed upon the Company by or under any applicable statute or regulation.

 

18.
Remedies. The Company shall be entitled to recover from you reasonable attorneys’ fees incurred in connection with
the enforcement of the terms and provisions of this Agreement whether by an action to enforce specific performance or for damages
for its breach or otherwise.

 

19.
No Liability for Good Faith Determinations. The Company and the members of the Committee and the Board shall not be liable
for any act, omission or determination taken or made in good faith with respect to this Agreement or the Option granted hereunder.

 

20.
Execution of Receipts and Releases. Any payment of cash or any issuance or transfer of shares of Stock or other property
to you, or to your legal representative, heir, legatee or distributee, in accordance with the provisions hereof, shall, to the
extent thereof, be in full satisfaction of all claims of such persons hereunder. The Company may require you or your legal representative,
heir, legatee or distributee, as a condition precedent to such payment or issuance, to execute a release and receipt therefore
in such form as it shall determine.

 

    	 	7	 

     

    

 

21.
No Guarantee of Interests. The Board and the Company do not guarantee the Stock of the Company from loss or depreciation.

 

22.
Company Records. Records of the Company regarding your service and other matters shall be conclusive for all purposes hereunder,
unless determined by the Company to be incorrect.

 

23.
Notice. All notices required or permitted under this Agreement must be in writing and personally delivered or sent by mail
and shall be deemed to be delivered on the date on which it is actually received by the person to whom it is properly addressed
or if earlier the date sent via certified mail.

 

24.
Waiver of Notice. Any person entitled to notice hereunder may, by written form, waive such notice.

 

25.
Information Confidential. As partial consideration for the granting of this Option, you agree that you will keep confidential
all information and knowledge that you have relating to the manner and amount of your participation in the Plan; provided, however,
that such information may be disclosed as required by law and may be given in confidence to your spouse, tax and financial advisors.
In the event any breach of this promise comes to the attention of the Company, it shall take into consideration that breach in
determining whether to recommend the grant of any future similar award to you, as a factor weighing against the advisability of
granting any such future award to you.

 

26.
Successors. This Agreement shall be binding upon you, your legal representatives, heirs, legatees and distributees, and
upon the Company, its successors and assigns.

 

27.
Severability. If any provision of this Agreement is held to be illegal or invalid for any reason, the illegality or invalidity
shall not affect the remaining provisions hereof, but such provision shall be fully severable and this Agreement shall be construed
and enforced as if the illegal or invalid provision had never been included herein.

 

28.
Company Action. Any action required of the Company shall be by resolution of the Board or by a person authorized to act
by resolution of the Board.

 

29.
Headings. The titles and headings of paragraphs are included for convenience of reference only and are not to be considered
in construction of the provisions hereof.

 

30.
Governing Law. All questions arising with respect to the provisions of this Agreement shall be determined by application
of the laws of Texas, without giving any effect to any conflict of law provisions thereof, except to the extent Texas law is preempted
by federal law. The obligation of the Company to sell and deliver Stock hereunder is subject to applicable laws and to the approval
of any governmental authority required in connection with the authorization, issuance, sale, or delivery of such Stock.

 

    	 	8	 

     

    

 

31.
Word Usage. Words used in the masculine shall apply to the feminine where applicable, and wherever the context of this
Agreement dictates, the plural shall be read as the singular and the singular as the plural.

 

32.
No Assignment. You may not assign this Agreement or any of your rights under this Agreement without the Company’s
prior written consent, and any purported or attempted assignment without such prior written consent shall be void.

 

33.
Acknowledgements Regarding Section 409A and Section 422 of the Code. You understand that if the purchase price of the Stock
under this Option is less than the Fair Market Value of such Stock on the date of grant of this Option, then you may incur adverse
tax consequences under section 409A and section 422 of the Code. You acknowledge and agree that (a) you are not relying upon any
determination by the Company, its affiliates, or any of their respective employees, directors, officers, attorneys or agents (collectively,
the “Company Parties”) of the Fair Market Value of the Stock on the Date of Grant, (b) you are not relying
upon any written or oral statement or representation of the Company Parties regarding the tax effects associated with your execution
of this Agreement and your receipt, holding and exercise of this Option, and (c) in deciding to enter into this Agreement, you
are relying on your own judgment and the judgment of the professionals of your choice with whom you have consulted. You hereby
release, acquit and forever discharge the Company Parties from all actions, causes of actions, suits, debts, obligations, liabilities,
claims, damages, losses, costs and expenses of any nature whatsoever, known or unknown, on account of, arising out of, or in any
way related to the tax effects associated with your execution of this Agreement and your receipt, holding and exercise of this
Option.

 

34.
Miscellaneous.

 

(a)
This Agreement is subject to all the terms, conditions, limitations and restrictions contained in the Plan. In the event of any
conflict or inconsistency between the terms hereof and the terms of the Plan, the terms of the Plan shall be controlling.

 

(b)
The Option may be amended by the Board or by the Committee at any time (i) if the Board or the Committee determines, in its sole
discretion, that amendment is necessary or advisable in light of any addition to or change in any federal or state, tax or securities
law or other law or regulation, which change occurs after the Date of Grant and by its terms applies to the Option; or (ii) other
than in the circumstances described in clause (i) or provided in the Plan, with your consent.

 

(c)
If this Option is intended to be an Incentive Stock Option, then in the event the Option Shares (and all other options designed
pursuant to section 422 of the Code granted to you by the Company or any parent of the Company or Subsidiary) that first become
exercisable in any calendar year have an aggregate fair market value (determined for each Option Share as of the Date of Grant)
that exceeds $100,000, the Option Shares in excess of $100,000 shall be treated as subject to a Nonqualified Stock Option.

 

[End
Option Agreement]

 

    	 	9Exhibit
10.19

 

ADVISORY
AGREEMENT

 

THIS
ADVISORY AGREEMENT is made effective as of January 1, 2019, (the “Effective Date”) by and
between Austin EV, Inc., a Texas corporation (the “Company”) and Sustainability Consultants,
LLC (the “Advisor”).

 

RECITALS

 

A.
Company desires to obtain the services of Advisor to perform services identified in each Statement of Work as attached as
Exhibit A-1, A-2, etc.

 

B.
Company has spent significant time, effort, and money to develop certain Proprietary Information (as defined below), which
Company considers vital to its business and goodwill.

 

C.
The Proprietary Information may necessarily be communicated to or received by Advisor in the course of serving in a consulting
role for the Company, and Company desires to obtain the Services of Advisor, only if, in doing so, it can protect its Proprietary
Information and goodwill.

 

D.
Company does not, however, desire to receive from Advisor, or for Advisor to either induce the use of or use in connection
with the performance of the Services, any information which is confidential to or ownership of which resides in a third party,
whether acquired either prior to or subsequent to Advisor’s retention hereunder.

 

AGREEMENT

 

NOW,
THEREFORE, the parties hereto hereby agree as follows:

 

1.
Advisory Term. Company hereby retains Advisor to serve as an independent consultant. The term of this Agreement (the
“Term”) shall be the period commencing on the Effective Date and terminating on the one (1) year anniversary
thereof, subject to earlier termination upon thirty (30) days’ prior written notice delivered by either party to the other
for any reason. Upon any termination of the Services as provided in the preceding sentence, this Agreement shall terminate, except
that the provisions set forth in Sections 2.b, 4, 5, and 6 of this Agreement shall survive such termination.

 

2.
Position, Duties, Responsibilities.

 

a.
Duties. Advisor shall perform those services (“Services”) as reasonably requested by the
Company from time to time, including but not limited to the Services described on Exhibit A attached hereto. Advisor shall devote
Advisor’s commercially reasonable efforts and attention to the performance of the Services for the Company on a timely basis.
Advisor shall also make himself available to answer questions, provide advice and provide Services to the Company upon reasonable
request and notice from the Company.

 

b.
Independent Contractor; No Conflict. It is understood and agreed, and it is the intention of the parties hereto, that
Advisor is an independent contractor, and not the employee, agent, joint venturer, or partner of Company for any purposes whatsoever.
Advisor is skilled in providing the Services. To the extent necessary, Advisor shall be solely responsible for any and all taxes
related to the receipt of any compensation under this Agreement. Advisor hereby represents, warrants and covenants that Advisor
has the right, power and authority to enter into this Agreement and that neither the execution nor delivery of this Agreement,
nor the performance of the Services by Advisor will conflict with or result in a breach of the terms, conditions or provisions
of, or constitute a default under any contract, covenant or instrument under which Advisor is now or hereinafter becomes obligated.

 

    	1

    	 

    

 

3.
Compensation, Benefits, Expenses.

 

a.
Compensation. As full and complete consideration of the Services to be rendered hereunder, the Company shall pay Advisor
the Compensation described on Exhibit A attached hereto.

 

b.
Reimbursement of Expenses. Company shall promptly reimburse Advisor for any reasonable costs and expenses incurred
by Advisor in connection with any Services specifically requested by Company and actually performed by Advisor pursuant to the
terms of this Agreement. Each such expenditure or cost shall be reimbursed only if (i) with respect to costs or expenditures in
excess of $100, individually, Advisor receives prior approval from the Company’s CEO or CFO or other executive for such
expenditure or cost, and (ii) with respect to costs or expenditures of any amount. Advisor furnishes to Company adequate records
and other documents reasonably acceptable to Company evidencing such expenditure or cost.

 

c.
Restrictions on Transfer of Company Securities. The Advisor understands and agrees that he shall be bound any state
or federal securities laws applicable to the ownership or transfer of any Company capital stock or other Company securities, including
rights to acquire Company capital stock or other securities (all of the foregoing are collectively referred to herein as “Company
Securities”) that may be obtained by Advisor in the course of Advisor’s provision of Services to the Company.

 

d.
Foreign Members of Advisory Board. If the Advisor is not a citizen of the U.S., the Advisor must represent to the Company
as a condition of Advisor’s receipt or acquisition of any Company Securities that the Advisor is satisfied as to the full
observance of the laws of the Advisor’s jurisdiction in connection with the relevant acquisition or receipt of Company Securities,
including: (i) the legal requirements of the Advisor’s jurisdiction for such transaction; (ii) any foreign exchange restrictions
applicable to such transaction; (iii) any governmental or other consents that may need to be obtained; and (iv) the income tax
and other tax consequences, if any, which may be relevant to the purchase, holding, redemption, sale, or transfer of the Company
Securities, and (v) the Advisor’s ownership of the shares will not violate any applicable securities or other laws of the
Advisor’s jurisdiction. Further, any Advisor who is not a “U.S. Person” (as defined below), must represent and
warrant to the Company that: (a) The Advisor is not a “U.S. Person” as that term is defined in Rule 902 of Regulation
S of the Securities Act (“Regulation S”); (b) The Advisor and/or any person acting on his behalf
have not engaged and will not engage in any directed selling efforts within the meaning of Regulation S with respect to the Company
Securities and (c) The Advisor is not receiving the Company Securities for the account of or benefit of a U.S. Person.

 

4.
Confidential Information; Work Product;
Non-Disclosure.

 

a.
Confidential Information. The Company may disclose or may have previously disclosed to the Advisor, or the Advisor
may obtain access to, develop, or create, proprietary and confidential information or material concerning or related to the Company’s
research and development, products and/or services, or to the Company’s marketing processes, servicing, existing products,
or general business operations. Such information or material may include, but is not limited to, the discovery, invention, research
and development, improvement, manufacture, or sale of the products or services (including, without limitation, information created,
discovered or developed by the Advisor, or made known to the Advisor during the term of this Agreement or arising out of the Advisor’s
performance of the Duties hereunder), or the Company’s trade secrets, processes, formulas, data, know-how, software, documentation,
program files, flowcharts, drawings, software diagnostic techniques and other techniques, source and object code, standards, specifications,
improvements, inventions, customer information, accounting data, statistical data, research projects, development and marketing
plans, strategies, forecasts, computer programs, customer lists, sales, costs, profits, and pricing methods and organizations,
employee lists, compensation plans (collectively, the “Information”). The Advisor acknowledges
the confidential and secret character of the information and agrees that the Information is the sole, exclusive, and extremely
valuable property of the Company. Accordingly, the Advisor agrees not to reproduce any of the Information without the Company’s
prior written consent, not to use the information except in the ordinary course of performance of this Agreement, and not to divulge
all or any part of the Information to any third party, either during or after the term of this Agreement.

 

    	2

    	 

    

 

b.
Permitted Disclosure. Section 4 a. shall not be applicable if and to the extent that the Advisor is required
to testify in a legislative, judicial or regulatory proceeding, or before any state or local legislature, a judge, or an administrative
law judge, provided that the Advisor shall give Company prompt written advance notice of any such required testimony, shall provide
reasonable assistance to the Company in maintaining the confidential status of such Information, and shall only disclose such
Information as is absolutely necessary and required in any of the above proceedings. Confidential Information shall not include
any information to the extent such information is or becomes known to the public through no disclosure or other act or omission,
direct or indirect, of the Advisor. Information shall not be deemed to be available to the general public for the purposes of
this Agreement (a) merely because it is embraced by more general information in the prior possession of the Advisor or of others,
or (b) merely because it is expressed in public literature in general terms not specifically in accordance with the Information.

 

c.
Obligations of Advisor. The Advisor shall hold and maintain the Information in strictest confidence and for the sole
and exclusive benefit of the Company. The Advisor shall carefully restrict access to the Information and shall not provide the
Information to employees, contractors or any other third parties without the prior written consent of the Company, and only then
shall such disclosure be made pursuant to a confidential disclosure agreement whose terms are at least as restrictive as the terms
of this Agreement. The Advisor shall not, without the prior written approval of the Company, use the Information for his own benefit,
publish, copy, or otherwise disclose the Information to others, or permit the use of Information by others for their benefit or
to the detriment of the Company. The Advisor shall return to the Company any and all records, notes and other written tangible
materials in his possession that relate to the Information upon termination of this Agreement or upon request of the Company.

 

d.
Protected Works. Any and all ideas, inventions, formulas, source codes, object codes, technique, processes, concepts,
systems, programs, software, software integration techniques, hardware systems, schematics, flow charts, computer data bases,
client lists, trademarks, service marks, brand names, trade names, compilations, documents, data, notes, designs, drawings, technical
data and/or training materials, including improvements thereto or derivatives therefrom, whether or not patentable, or subject
to copyright or trademark or trade secret protection, developed and produced by the Advisor pursuant to this Agreement or other
agreements between the Advisor and the Company and used or intended for use by or on behalf of the Company. or the Company’s
clients (collectively, the “Protected Works”) are the sole and exclusive property of the Company.
Protected Works does not include an invention that the Advisor developed entirely on his own time without using the Company’s
equipment, supplies, facilities, or trade secret information except for those inventions that either: (i) relate at the time of
conception or reduction to practice of the invention to the Company’s business, or actual or demonstrably anticipated research
or development of the Company; or (ii) result from any work performed by the Advisor for the Company.

 

e.
Ownership and Assignment of Protected Works. The Advisor agrees that any and all Protected Works developed by the Advisor
during his term of service under this Agreement or other agreements with the Company are the sole and exclusive property of the
Company, and that no compensation in addition to the amounts set forth in this Agreement is due to the Advisor for development
or transfer of such Protected Works. The Advisor hereby assigns and agrees to assign all of his respective rights, title and interest
in Protected Works, including all patents or patent applications, and all copyrights therein, to the Company. The Advisor further
agrees at the Company’s request and without further consideration, but at the expense of the Company, that the Advisor will
communicate to the Company any facts known to the Advisor and testify in any legal proceedings, sign all lawful papers, make all
rightful oaths, execute all divisional, continuing, continuation-in-part, or reissue applications, all assignments, all registration
applications and all other instruments or papers to carry into full force and effect, the assignment, transfer and conveyance
hereby made or intended to be made and generally do everything possible for title to the Protected Works and all patents or copyrights
or trademarks or service marks therein to be clearly and exclusively held by the Company. The Advisor agrees that he will not
apply for any state, federal, or other jurisdiction’s registration of rights in any of the Protected Works and that he will
not oppose or object in any way to applications for registration of same by the Company or others designated by the Company. The
Advisor agrees to exercise reasonable care to avoid making the Protected Works available to any third party. The Advisor also
agrees that he shall be liable to the Company for all damages, including reasonable attorneys’ fees and other expenses of
litigation, if the Protected Works are made available to third parties in any manner by the Advisor without the express written
consent of the Company. The Advisor additionally agrees to the following:

 

    	3

    	 

    

 

(1)
To disclose and describe to the Company, within fifteen (15) days after their creation, ( i) all inventions, ideas, copyrightable
works, databases, data and other Protected Works, as defined in Section 4 d. above, which are created by the Advisor, either
alone or with others, during the Advisor’s term of service, or in connection with the formation of the Company, and (ii)
all Protected Works which are based in whole or in part upon any Information and are created by Advisor, either alone or with
others, within one (1) year after the Advisor’s leaving the Company’s employ; and

 

(2)
There is no other contract or duty on the Advisor’s part now in existence to assign Protected Works to anyone other than
the Company. The Advisor will not disclose or induce the Company to use any Confidential Information or material that the Advisor
is now or shall become aware of which belongs to anyone other than the Company. The Advisor will not engage in any consulting,
or other activity in any business competitive with the Company’s business as presently conducted or as conducted at any
future time during the term of employment.

 

f.
Time Limits. The non-disclosure and non-use provisions of this Agreement shall survive its termination and the Advisor’s
duty to hold the Information in confidence shall remain in permanent effect until the Information no longer qualifies as a trade
secret or other confidential information of Company or until Company sends Advisor written notice releasing Advisor from the non-disclosure
and non-use obligations of this Agreement, whichever shall occur first.

 

g.
Non-Solicitation. Protection of the Information described in Section 4 a. above is critical to the success of
the Company, and thus, in order to protect the Information of the Company, commencing on the execution of this Agreement, and
continuing for a period of one (1) year after this Agreement is terminated by either party, the Advisor will not, directly or
indirectly, alone or in concert with others, induce or attempt to induce any person who at the time of such inducement is an employee
of the Company or its subsidiaries to perform work or services for any other person or entity other than the Company.

 

h.
Non-Compete. During the Term, Advisor shall provide the Company with prior written notice if Consultant intends to
provide any services, as an employee, consultant or otherwise, to any person, company or entity that competes directly with the
Company, which written notice shall include the name of the competitor, During the period that is six (6) months after the termination
of this Agreement, Advisor shall provide the Company with written notice any time that Advisor provides any services, as an employee,
consultant or otherwise, to any person, company or entity that competes directly with the Company.

 

i.
Savings Clause. If any restriction set forth this Section 4 is held to be unreasonable, then the Advisor agrees,
and hereby submits, to the reduction and limitation of such prohibition to such area or period as shall be deemed reasonable.

 

j.
Injunctive Relief. The Advisor expressly agrees that the covenants set forth in this Section 4 are reasonable
and necessary to protect the Company and its legitimate business interests, and to prevent the unauthorized dissemination of the
Information to competitors of the Company. The Advisor also agrees that the Company will be irreparably harmed and that damages
alone cannot adequately compensate the Company if there is a violation of Section 4 by the Advisor, and that injunctive
relief against the Advisor is essential for the protection of the Company. Therefore, in the event of any such breach, it is agreed
that, in addition to any other remedies available under this Agreement, at law, or in equity, the Company shall be entitled as
a matter of right to injunctive relief in any court of competent jurisdiction, plus attorneys’ fees actually incurred for
the securing of such relief, and without the need to post a bond.

 

    	4

    	 

    

 

5.
Disputes; Arbitration. Except for disputes arising under Section 4 above of this Agreement which may be the
subject of injunctive relief pursuant to Section 4 j. above, any and all disputes between the Advisor and the Company,
or any of its employees, which arise out of the Services or under the other terms of this Agreement shall be resolved through
final and binding arbitration. This shall include, without limitation, disputes relating to this Agreement, the Advisor’s
performance of Services during the term hereof or the termination thereof, claims for breach of contract or breach of the covenant
of good faith and fair dealing, or any other federal, state or local law or regulation now in existence or hereinafter enacted
and as amended from time to time concerning in any way the subject of Advisor’s performance of Services for the Company’s
benefit or the termination of this Agreement. Binding arbitration will be conducted in Travis County, Texas, before a single arbitrator,
in accordance with the rules and regulations of the American Arbitration Association. Each party will split the cost of the arbitration
filing and hearing fees, and the fees of the arbitrator. If either party employs attorneys to enforce any right arising out of
or relating to this Agreement, the prevailing party shall be entitled to recover reasonable attorneys’ fees. in arbitration
or otherwise. The Advisor understands and agrees that the arbitration shall be instead of any civil litigation and that this means
that he is waiving his right to a jury trial as to such claims. The parties further understand and agree that the arbitrator’s
decision shall be final and binding to the fullest extent permitted by law and enforceable by any court having jurisdiction thereof.

 

6.
Miscellaneous.

 

a.
Notices. All notices, responses, demands or other communication under this Agreement shall be in writing and shall
be deemed to have been given when: (a) delivered by hand; (b) sent by facsimile (with receipt confirmed); or (c) received by the
addressee as sent by express delivery service (receipt requested) in each case to the appropriate addresses and/or facsimile numbers
as set forth on the signature page hereto, and as may be amended by the parties by notice to the other parties.

 

b.
Entire Agreement. This Agreement and any documents attached hereto as Exhibits constitute the entire agreement and
understanding between the parties with respect to the subject matter herein and therein, and supersede and replace any and all
prior agreements and understandings, whether oral or written with respect to such matters. Subject to and without limiting the
ability of the Company’s Board of Directors to amend the Advisory Board Charter, the provisions of this Agreement may be
waived, altered, amended or replaced in whole or in part only upon the written consent of both parties to this Agreement.

 

c.
Severability, Enforcement. If, for any reason, any provision of this Agreement shall be determined to be invalid or
inoperative, the validity and effect of the other provisions herein shall not be affected thereby, provided that no such severability
shall be effective if it causes a material detriment to any party.

 

d.
Governing Law. The validity, interpretation, enforceability, and performance of this Agreement shall be governed by
and construed in accordance with the law s of the State of Texas. Venue for any and all disputes arising out of this Agreement
shall lie in any state or federal court sitting in the City of Round Rock, County of Williamson, State of Texas.

 

e.
No Assignment. The Advisor acknowledges that this is a personal service contract and agrees not to assign any rights
or delegate any duties hereunder without the prior written consent of the Company.

 

f.
Publicity. The Company shall, with prior written approval by Advisor, have the right to use the name, biography and
picture of Advisor on the Company’s website, marketing and advertising materials.

 

g.
Counterparts. This Agreement may be executed in counterparts, any one of which need not contain the signatures of more
than one party, but all such counterparts taken together will constitute one and the same instrument.

 

[EXECUTION
PAGE FOLLOWS]

 

    	5

    	 

    

 

IN
WITNESS WHEREOF, each party hereto has duly executed this Agreement as of the Effective

 

Date.

 

	COMPANY:
    	 	ADVISOR:
	 	 	 
	Austin
    EV, Inc.	 	 
	 	 	 	 
	By:	/s/
    Rod Keller	 	/s/
    Mark Adams
	Name:	Rod
    Keller	 	Sustainabilitv
    Consultants, LLC
	Title:	CFO	 	 

 

    	6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00313-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00313-of-00352.parquet"}]]