Document:

EXHIBIT 4.2

 

Form
of Representative’s Warrant Agreement

 

THE
REGISTERED HOLDER OF THIS PURCHASE WARRANT BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE WARRANT
EXCEPT AS HEREIN PROVIDED AND THE REGISTERED HOLDER OF THIS PURCHASE WARRANT AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR
HYPOTHECATE THIS PURCHASE WARRANT FOR A PERIOD OF ONE HUNDRED EIGHTY DAYS FOLLOWING THE COMMENCEMENT DATE (DEFINED BELOW) TO ANYONE OTHER
THAN (I) THINKEQUITY LLC, OR AN UNDERWRITER OR A SELECTED DEALER IN CONNECTION WITH THE OFFERING, OR (II) A BONA FIDE OFFICER OR PARTNER
OF THINKEQUITY LLC OR OF ANY SUCH UNDERWRITER OR SELECTED DEALER. 

 

THIS
PURCHASE WARRANT IS NOT EXERCISABLE PRIOR TO [________________] [DATE THAT IS 180 DAYS FROM THE COMMENCEMENT DATE OF THE OFFERING. VOID
AFTER 5:00 P.M., EASTERN TIME, [___________________] [DATE THAT IS FIVE YEARS FROM THE COMMENCEMENT DATE OF THE OFFERING].

 

WARRANT
TO PURCHASE COMMON STOCK 

 

FORZA
X1, INC.

  

	Warrant Shares: _________[1]	 	Initial Exercise Date: __________, 2022

  

THIS
WARRANT TO PURCHASE COMMON STOCK (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 ____, 2022 (the “Initial Exercise Date”) and, in accordance with FINRA Rule 5110(g)(8)(A),
prior to at 5:00 p.m. (New York time) on the date that is five (5) years following the Commencement Date (the “Termination Date”)
but not thereafter, to subscribe for and purchase from Forza X1, Inc., a Delaware corporation (the “Company”), up
to ______ shares of Common Stock, par value $0.001 per share, of the Company (the “Warrant Shares”), as subject to
adjustment hereunder. 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 Agreement, 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.

 

“Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized
or required by law to remain closed; provided that banks shall not be deemed to be authorized or obligated to be closed due to a “shelter
in place,” “non-essential employee” or similar closure of physical branch locations at the direction of any governmental
authority if such banks’ electronic funds transfer systems (including for wire transfers) are open for use by customers on such
day.

[1]
Equal to 5% of the Public Securities sold in the Offering.

 

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“Commission”
means the United States Securities and Exchange Commission.

 

“Commencement
Date” means the date that is one hundred eighty (180) days immediately following the commencement of sales of the securities
issued in the Offering.

 

“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.

 

“Rule
144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect
as such Rule.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Trading
Day” means a day on which the New York Stock Exchange is open for trading.

 

“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 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 a share of Common Stock for such date (or the nearest preceding date) on the OTCQB or OTCQX as applicable, (c) if Common Stock
is not then listed or quoted for trading on the OTCQB or OTCQX and if prices for Common Stock are then reported in the “Pink Sheets”
published by OTC Markets Group, Inc. (or a similar organization or agency succeeding to its functions of reporting prices), the most
recent bid price per share of Common Stock so reported, or (d) in all other cases, the fair market value of the 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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Section
2. Exercise.

 

a)       
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 (or such other office or
agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder
appearing on the books of the Company) of a duly executed facsimile copy (or e-mail attachment) of the Notice of Exercise
Form annexed hereto. Within two (2) Trading Days following the date of exercise as aforesaid, the Holder shall deliver the
aggregate Exercise Price for the 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; provided that payment of the aggregate Exercise Price (other than in the instance of a
cashless exercise) is received by the Company by such date. 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 form 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 five (5) Trading Days of
the date 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 Form within two (2) Business Days 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 the Common Stock under this Warrant shall be $_______[2], subject
to adjustment hereunder (the “Exercise Price”).

 

c)       
Cashless Exercise. In[3] lieu of exercising this Warrant by delivering the aggregate Exercise Price by wire transfer
or cashier’s check, at the election of the Holder this Warrant may also be exercised, in whole or in part, at such time by means
of a “cashless exercise” in which the Holder shall be entitled to receive the number of Warrant Shares equal to the quotient
obtained by dividing [(A-B) (X)] by (A), where:

 

(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)(64) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) the VWAP on the Trading Day
immediately preceding the date 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

[1]
Equal to 5% of the Public Securities sold in the Offering.

 

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(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 registered characteristics of the Warrants being exercised, and the
holding period of the Warrants being exercised may be tacked on to the holding period of the Warrant Shares. The Company agrees not to
take any position contrary to this Section 2(c).

 

 Notwithstanding
anything herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise pursuant
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 its 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 Holder, or (B) the Warrant Shares are eligible for resale by the
Holder without volume or manner-of-sale limitations pursuant to Rule 144 and, in either case, the Warrant Shares have been
sold by the Holder prior to the Warrant Share Delivery Date (as defined below), 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 two (2) Trading Days after the delivery to the Company of the Notice of Exercise (such
date, the “Warrant Share Delivery Date”) provided that payment of the aggregate Exercise Price (other than
in the instance of a cashless exercise) is received by the Company by such date. If the Warrant Shares can be delivered via
DWAC, the transfer agent shall have received from the Company, at the expense of the Company, any legal opinions or other
documentation required by it to deliver such Warrant Shares without legend (subject to receipt by the Company of reasonable
back up documentation from the Holder, including with respect to affiliate status) and, if applicable and requested by the
Company prior to the Warrant Share Delivery Date, the transfer agent shall have received from the Holder a confirmation of
sale of the Warrant Shares (provided the requirement of the Holder to provide a confirmation as to the sale of Warrant Shares
shall not be applicable to the issuance of unlegended Warrant Shares upon a cashless exercise of this Warrant if the Warrant
Shares are then eligible for resale pursuant to Rule 144(b)(1)). The Warrant Shares shall be deemed to have been issued, and
Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such shares
for all purposes, as of the date the Warrant has been exercised, with payment to the Company of the Exercise Price (or by
cashless exercise, if permitted) and all taxes required to be paid by the Holder, if any, pursuant to
Section 2(d)(vi) prior to the issuance of such shares, having been paid. If the Company fails for any reason to
deliver to the Holder the Warrant Shares subject to a proper Notice of Exercise by the second Trading Day following the
Warrant Share Delivery Date; provided that payment of the aggregate Exercise Price (other than in the instance of a cashless
exercise) is received by the Company by such date, the Company shall pay to the Holder, either (A) 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 the second Trading Day following such
Warrant Share Delivery Date until such Warrant Shares are delivered or Holder rescinds such exercise or (B) the amount
pursuant to the Buy-In pursuant to Section 2(d)(iv).

 

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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 its transfer agent to deliver 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; provided, however,
that the Holder shall be required to return any Warrant Shares or Common Stock subject to any such rescinded exercise notice concurrently
with the return to Holder of the aggregate Exercise Price paid to the Company for such Warrant Shares and the restoration of Holder’s
right to acquire such Warrant Shares pursuant to this Warrant (including, issuance of a replacement warrant certificate evidencing such
restored right).

 

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 its transfer agent to transmit to the Holder the Warrant Shares pursuant to an exercise on or
before the Warrant Share Delivery Date (other than any such failure that is solely due to any action or inaction by the
Holder with respect to such exercise), 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.

 

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.

 

viii.              
Signature. This Section 2 and the exercise form attached hereto set forth the totality of the procedures required of the Holder
in order to exercise this Purchase Warrant. Without limiting the preceding sentences, no ink-original exercise form shall be required,
nor shall any medallion guarantee (or other type of guarantee or notarization) of any exercise form be required in order to exercise
this Purchase Warrant. No additional legal opinion, other information or instructions shall be required of the Holder to exercise this
Purchase Warrant. The Company shall honor exercises of this Purchase Warrant and shall deliver Shares underlying this Purchase Warrant
in accordance with the terms, conditions and time periods set forth herein.

 

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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), 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 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 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. 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 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 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 Company’s
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 two Trading Days 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 since the date as of which such number of outstanding shares
of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 9.99% 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. For the purposes of clarification, the Exercise Price
of this Warrant will not be adjusted in the event that the Company or any Subsidiary thereof, as applicable, sells or grants any option
to purchase, or sell or grant any right to reprice, or otherwise dispose of or issue (or announce any offer, sale, grant or any option
to purchase or other disposition) any Common Stock or Common Stock Equivalents, at an effective price per share less than the Exercise
Price then in effect.

 

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 all of 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, 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).

 

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d)             Pro
Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend (other
than cash dividends) or other distribution of its assets (or rights to acquire its assets) to all holders of shares of Common
Stock, by way of return of capital or otherwise (including, without limitation, any distribution of shares 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, 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). To the extent that this Warrant has not been partially or completely exercised
at the time of such Distribution, such portion of the Distribution shall be held in abeyance for the benefit of the Holder until
the Holder has exercised this Warrant.

 

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 and the Company is not
the surviving entity, (ii) the Company, 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 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 by holders of Common Stock as a result of such Fundamental Transaction for each share 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 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 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 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 mail or email to the Holder 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; provided, however, that the
Company may satisfy this notice requirement in this Section 3(g) by filing such notice with the Commission pursuant to a Current Report
on Form 8-K or Quarterly Report on Form 10-Q or Annual Report on Form 10-K.

 

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 (a reverse stock split shall not be deemed a
reclassification), any consolidation or merger to which the Company 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 mailed a notice to the
Holder at its last address as it shall appear upon the Warrant Register of the Company, at least five (5) calendar days prior
to the applicable record or effective date hereinafter specified (unless such information is filed with the Commission on its
EDGAR system in which case a notice shall not be required), 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 provide
such notice or any defect therein shall not affect the validity of the corporate action required to be specified in such
notice. To the extent that any notice provided hereunder 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.

  

    	10

    	 

    

 

Section
4.             Transfer of Warrant.

 

a)
                      Transferability.
Pursuant to FINRA Rule 5110(e)(1)(A), neither this Warrant nor any Warrant Shares issued upon exercise of this Warrant shall be
sold, transferred, assigned, pledged, or hypothecated, or be the subject of any hedging, short sale, derivative, put, or call
transaction that would result in the effective economic disposition of the securities by any person for a period of 180 days immediately
following the Commencement Date or commencement of sales of the offering pursuant to which this Warrant is being issued, except
the transfer of any security:

 

i.
                         by operation of law or by reason of reorganization of the Company;

 

ii.                         to any FINRA member firm participating in the offering and the officers or partners thereof, if all securities so transferred remain
subject to the lock-up restriction in this Section 4(a) for the remainder of the time period;

 

iii.                        if the aggregate amount of securities of the Company held by the Holder or related person do not exceed 1% of the securities being offered;

 

iv.
                      that is beneficially owned on a pro-rata basis by all equity owners of an investment fund, provided that no participating member manages
or otherwise directs investments by the fund, and participating members in the aggregate do not own more than 10% of the equity in the
fund; or

 

v.
                       the exercise or conversion of any security, if all securities received remain subject to the lock-up restriction in this Section 4(a)
for the remainder of the time period.

 

    	11

    	 

    

 

Subject
to the foregoing restriction, any applicable securities laws and the conditions set forth in Section 4(d), 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 the Holder delivers an assignment form to the Company assigning this Warrant
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.

 

b)         
New Warrants. This Warrant may be divided or combined with other Warrants 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
or combination, 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 Warrants issued on transfers or exchanges shall be dated the initial issuance date of
this Warrant 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.

 

    12

     

    

 

Section
5. Registration Rights.

 

5.1.
            Demand Registration.

 

5.1.1
      Grant of Right. The Company, upon written demand (a “Demand Notice”) of the Holder(s) of at least 51% of the Warrants and/or
the underlying Warrant Shares (“Majority Holders”), agrees to register, on one occasion, all or any portion of the Warrant
Shares underlying the Warrants (collectively, the “Registrable Securities”). On such occasion, the Company will file a registration
statement with the Commission covering the Registrable Securities within sixty (60) days after receipt of a Demand Notice and use its
reasonable best efforts to have the registration statement declared effective promptly thereafter, subject to compliance with review
by the Commission; provided, however, that the Company shall not be required to comply with a Demand Notice if the Company has filed
a registration statement with respect to which the Holder is entitled to piggyback registration rights pursuant to Section 5.2 hereof
and either: (i) the Holder has elected to participate in the offering covered by such registration statement or (ii) if such registration
statement relates to an underwritten primary offering of securities of the Company, until the offering covered by such registration statement
has been withdrawn or until thirty (30) days after such offering is consummated. The demand for registration may be made at any time
beginning on the Initial Exercise Date and expiring on the fifth anniversary of the Commencement Date in accordance with FINRA Rule 5110(g)(8)(C).
The Company covenants and agrees to give written notice of its receipt of any Demand Notice by any Holder(s) to all other registered
Holders of the Warrants and/or the Registrable Securities within ten (10) days after the date of the receipt of any such Demand Notice.

  

5.1.2
      Terms. The Company shall bear all fees and expenses attendant to the registration of the Registrable Securities pursuant to Section 5.1.1,
but the Holders shall pay any and all underwriting commissions and the expenses of any legal counsel selected by the Holders to represent
them in connection with the sale of the Registrable Securities. The Company agrees to use its reasonable best efforts to cause the filing
required herein to become effective promptly and to qualify or register the Registrable Securities in such States as are reasonably requested
by the Holder(s); provided, however, that in no event shall the Company be required to register the Registrable Securities in a State
in which such registration would cause: (i) the Company to be obligated to register or license to do business in such State or submit
to general service of process in such State, or (ii) the principal shareholders of the Company to be obligated to escrow their shares
of capital stock of the Company. The Company shall cause any registration statement filed pursuant to the demand right granted under
Section 5.1.1 to remain effective for a period of at least twelve (12) consecutive months after the date that the Holders of the Registrable
Securities covered by such registration statement are first given the opportunity to sell all of such securities. The Holders shall only
use the prospectuses provided by the Company to sell the Warrant Shares covered by such registration statement, and will immediately
cease to use any prospectus furnished by the Company if the Company advises the Holder that such prospectus may no longer be used due
to a material misstatement or omission. Notwithstanding the provisions of this Section 5.1.2, the Holder shall be entitled to a demand
registration under this Section 5.1.2 on only one (1) occasion and such demand registration right shall terminate on the fifth anniversary
of the Commencement Date in accordance with FINRA Rule 5110(g)(8)(C).

 

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5.2
            “Piggy-Back” Registration.

 

5.2.1
      Grant of Right. In addition to the demand right of registration described in Section 5.1
hereof, the Holder shall have the right, for a period of no more than two (2) years from the Initial Exercise Date in
accordance with FINRA Rule 5110(g)(8)(D), to include the Registrable Securities as part of any other registration of
securities filed by the Company (other than in connection with a transaction contemplated by Rule 145(a) promulgated under
the Securities Act or pursuant to Form S-8 or any equivalent form); provided, however, that if, solely in connection with any
primary underwritten public offering for the account of the Company, the managing underwriter(s) thereof shall, in its
reasonable discretion, impose a limitation on the number of Shares which may be included in the Registration Statement
because, in such underwriter(s)’ judgment, marketing or other factors dictate such limitation is necessary to
facilitate public distribution, then the Company shall be obligated to include in such Registration Statement only such
limited portion of the Registrable Securities with respect to which the Holder requested inclusion hereunder as the
underwriter shall reasonably permit. Any exclusion of Registrable Securities shall be made pro rata among the Holders seeking
to include Registrable Securities in proportion to the number of Registrable Securities sought to be included by such
Holders; provided, however, that the Company shall not exclude any Registrable Securities unless the Company has first
excluded all outstanding securities, the holders of which are not entitled to inclusion of such securities in such
Registration Statement or are not entitled to pro rata inclusion with the Registrable Securities.

 

5.2.2
      Terms. The Company shall bear all fees and expenses attendant to registering the Registrable Securities pursuant to Section 5.2.1 hereof,
but the Holders shall pay any and all underwriting commissions and the expenses of any legal counsel selected by the Holders to represent
them in connection with the sale of the Registrable Securities. In the event of such a proposed registration, the Company shall furnish
the then Holders of outstanding Registrable Securities with not less than thirty (30) days written notice prior to the proposed date
of filing of such registration statement. Such notice to the Holders shall continue to be given for each registration statement filed
by the Company during the two (2) year period following the Initial Exercise Date until such time as all of the Registrable Securities
have been sold by the Holder. The holders of the Registrable Securities shall exercise the “piggy-back” rights provided for
herein by giving written notice within ten (10) days of the receipt of the Company’s notice of its intention to file a registration
statement. Except as otherwise provided in this Warrant, there shall be no limit on the number of times the Holder may request registration
under this Section 5.2.2; provided, however, that such registration rights shall terminate on the second anniversary of the Initial Exercise
Date.

 

5.3
             General Terms

 

5.3.1
       Indemnification. The Company shall indemnify the Holder(s) of the Registrable Securities to be sold pursuant to any registration statement
hereunder and each person, if any, who controls such Holders within the meaning of Section 15 of the Securities Act or Section 20 (a)
of the Exchange Act against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses
reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which any of them may become subject under
the Securities Act, the Exchange Act or otherwise, arising from such registration statement but only to the same extent and with the
same effect as the provisions pursuant to which the Company has agreed to indemnify the Underwriters contained in Section 5.1 of the
Underwriting Agreement between the Underwriters and the Company, dated as of [ ], 2022. The Holder(s) of the Registrable Securities to
be sold pursuant to such registration statement, and their successors and assigns, shall severally, and not jointly, indemnify the Company,
against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses reasonably incurred
in investigating, preparing or defending against any claim whatsoever) to which they may become subject under the Securities Act, the
Exchange Act or otherwise, arising from information furnished by or on behalf of such Holders, or their successors or assigns, in writing,
for specific inclusion in such registration statement to the same extent and with the same effect as the provisions contained in Section
5.2 of the Underwriting Agreement pursuant to which the Underwriters have agreed to indemnify the Company.

 

    14

     

    

 

5.3.2
      Exercise of Warrants. Nothing contained in this Warrant shall be construed as requiring the Holder(s) to exercise their Warrants prior
to or after the initial filing of any registration statement or the effectiveness thereof.

 

5.3.3
       Documents Delivered to Holders. The Company shall furnish to each Holder participating in any of the foregoing offerings and to each
underwriter of any such offering, if any, a signed counterpart, addressed to such Holder or underwriter, of: (i) an opinion of counsel
to the Company, dated the effective date of such registration statement (and, if such registration includes an underwritten public offering,
an opinion dated the date of the closing under any underwriting agreement related thereto), and (ii) a “cold comfort” letter
dated the effective date of such registration statement (and, if such registration includes an underwritten public offering, a letter
dated the date of the closing under the underwriting agreement) signed by the independent registered public accounting firm which has
issued a report on the Company’s financial statements included in such registration statement, in each case covering substantially
the same matters with respect to such registration statement (and the prospectus included therein) and, in the case of such accountants’
letter, with respect to events subsequent to the date of such financial statements, as are customarily covered in opinions of issuer’s
counsel and in accountants’ letters delivered to underwriters in underwritten public offerings of securities. The Company shall
also deliver promptly to each Holder participating in the offering requesting the correspondence and memoranda described below and to
the managing underwriter, if any, copies of all correspondence between the Commission and the Company, its counsel or auditors and all
memoranda relating to discussions with the Commission or its staff with respect to the registration statement and permit each Holder
and underwriter to do such investigation, upon reasonable advance notice, with respect to information contained in or omitted from the
registration statement as it deems reasonably necessary to comply with applicable securities laws or rules of FINRA. Such investigation
shall include access to books, records and properties and opportunities to discuss the business of the Company with its officers and
independent auditors, all to such reasonable extent and at such reasonable times as any such Holder shall reasonably request.

  

5.3.4
      Underwriting Agreement. The Company shall enter into an underwriting agreement with the managing underwriter(s), if any, selected by
any Holders whose Registrable Securities are being registered pursuant to this Section 5, which managing underwriter shall be reasonably
satisfactory to the Company. Such agreement shall be reasonably satisfactory in form and substance to the Company, each Holder and such
managing underwriters, and shall contain such representations, warranties and covenants by the Company and such other terms as are customarily
contained in agreements of that type used by the managing underwriter. The Holders shall be parties to any underwriting agreement relating
to an underwritten sale of their Registrable Securities and may, at their option, require that any or all the representations, warranties
and covenants of the Company to or for the benefit of such underwriters shall also be made to and for the benefit of such Holders. Such
Holders shall not be required to make any representations or warranties to or agreements with the Company or the underwriters except
as they may relate to such Holders, their Warrant Shares and their intended methods of distribution.

 

5.3.5
       Documents to be Delivered by Holder(s). Each of the Holder(s) participating in any of the foregoing offerings shall furnish to the Company
a completed and executed questionnaire provided by the Company requesting information customarily sought of selling security holders.

 

    15

     

    

 

5.3.6
Damages. Should the registration or the effectiveness thereof required by Sections 5.1 and 5.2 hereof be delayed by the Company or the
Company otherwise fails to comply with such provisions, the Holder(s) shall, in addition to any other legal or other relief available
to the Holder(s), be entitled to obtain specific performance or other equitable (including injunctive) relief against the threatened
breach of such provisions or the continuation of any such breach, without the necessity of proving actual damages and without the necessity
of posting bond or other security.

 

Section
6. Miscellaneous.

 

a)
           No Rights as Stockholder Until Exercise. 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).

 

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 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.

 

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).

 

    16

     

    

 

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.

 

e)            
Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined
in accordance with the provisions of the underwriting agreement, dated [ ], 2022, by and between the Company and ThinkEquity LLC, as
representatives of the underwriters set forth therein (the “Underwriting Agreement”).

 

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. Without limiting any other provision
of this Warrant or the Underwriting Agreement, 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.

 

h)           
Notices. Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall
be delivered in accordance with the notice provisions of the Underwriting Agreement.

 

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.

 

    	17

    	 

    

 

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 Holders of 50.1% of the outstanding Warrants Shares issuable upon exercise of all the outstanding Warrants.

 

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)

 

    18

     

    

 

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.

  

	 	Forza X1, Inc.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    19

     

    

 

NOTICE
OF EXERCISE

 

TO:               
Forza X1, 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 register and issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

The
Warrant Shares shall be delivered to the following DWAC Account Number or by physical delivery of a certificate to:

 

_______________________________

 

_______________________________

 

_______________________________

 

(4)
Accredited Investor. If the Warrant is being exercised via cash exercise, 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:
________________________________________________________________________________

 

    20

     

    

 

ASSIGNMENT
FORM

 

(To
assign the foregoing warrant, execute

this form and supply required information.

Do not use this form to exercise the warrant.)

 

FOR
VALUE RECEIVED, [____] all of or [_______] shares of the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

_______________________________________________
whose address is

 

_______________________________________________________________.

 

_______________________________________________________________

 

Dated:
______________, _______

 

Holder’s
Signature: _____________________________

 

Holder’s
Address: _____________________________

 

_____________________________

 

NOTE:
The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement
or any change whatsoever. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper
evidence of authority to assign the foregoing Warrant.

 

21EXHIBIT 10.8

 

EMPLOYMENT
AGREEMENT

  

THIS
EMPLOYMENT AGREEMENT (the “Agreement”), effective as of the closing of the initial public offering (the “Effective
Date”) of Forza X1, Inc., a Delaware corporation, with its principal place of business located at 3101 S. US-1, Ft. Pierce, Florida
34982 (the “Company”), is entered into by and between Joseph Visconti, an individual residing in Florida (“Executive”),
and the Company. Except as otherwise defined herein, capitalized terms and phrases shall have the meaning described thereto in Section
13 of this Agreement.

 

WHEREAS,
the Company and Executive desire to set forth the terms and conditions under which Executive shall be employed, and upon which Executive
shall be compensated by the Company.

 

WHEREAS,
the Company desires to continue employ Executive as its Executive Chairman of the Board of Directors and Chief of Product Development
for the period and upon the terms and conditions set forth in this Agreement.

 

WHEREAS,
Executive desires to serve in such capacity for such period and upon such terms.

 

NOW
THEREFORE, in consideration of the foregoing recitals, the mutual promises and agreements hereinafter set forth, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Executive agree as follows:

 

1.
         Term. The Company agrees to employ Executive, and Executive accepts such employment with the Company, upon the terms and subject
to the conditions set forth in this Agreement. Executive’s employment shall commence as of the Effective Date and unless earlier
terminated as provided herein, the initial term of this Agreement will be for a period of five (5) years, commencing on the Effective
Date (the “Initial Term”); provided that thereafter this Agreement will be extended for additional one (1)
year periods unless, no later than sixty (60) days prior to the expiration of the Initial Term or any such one (1) year extension period,
as the case may be, either the Company or Executive provides notice to the other of its intent to terminate this Agreement upon the completion
of the Initial Term or any such one (1) year extension period (the period of Executive’s employment by the Company under this Agreement
will be referred to as the “Term”).

 

2.         
Title; Duties; Board; Principal Place of Employment.

 

(a)        Title;
Duties. During the Term, Executive shall serve as the Executive Chairman of the Board of Directors and Chief of Product Development
of the Company, reporting directly to the Company’s Board of Directors (the “Board”). Executive shall perform such
specific duties as are commensurate with such positions and such other duties as may be assigned to Executive from time to time by the
Board.

 

(b)        Board.
During the Term, Executive will be nominated to serve as a member of the Board for each election of the Board; provided, however, that
Executive’s continued service as a member of the Board will be subject to any required stockholder approval. Upon any cessation
of Executive’s employment, unless otherwise requested by the Board, Executive agrees to resign from all director and officer positions
with the Company and its affiliates.

 

(c)        Principal Place of Employment. Executive’s services shall be performed principally at the Company’s headquarters,
which initially shall be in Ft. Pierce, Florida. However, from time to time, Executive may also be required by his job responsibilities
to travel on Company business, and Executive agrees to do so. Executive shall not be required to relocate from the Ft. Pierce, Florida
area unless the Company relocates its corporate headquarters, in which event Executive may be required to relocate to such location.

 

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3.    
    Outside Activities. Executive shall serve the Company faithfully and to the best of his ability, shall use his business judgment,
skill and best efforts to the advancement of the interests of the Company during the Term. Executive shall not engage, directly or indirectly,
in any other business, investment or activity that (a) interferes with the performance of Executive’s duties under this Agreement,
(b) is contrary to the interests of the Company or any of its affiliates or (c) requires any more than 70% of Executive’s business
time; provided, however, that, to the extent that the following does not impair Executive’s ability to perform Executive’s
duties pursuant to this Agreement, Executive, with the Board’s prior written approval (which approval may be withheld in the sole
discretion of the Board), may serve on the board or committee of any non-profit, educational, religious, charitable or other similar
organization, may have speaking engagements, and may serve as a member of the Board of Directors or equivalent of other organizations
or companies (collectively, “Outside Activities”), provided, however, that if, after it provides prior written approval for
an Outside Activity, the Board determines in good faith that such Outside Activity is inconsistent with applicable law or Company policy,
or conflicts with Executive’s obligations under this Agreement, Executive will cease any such Outside Activity upon written notice
from the Board. Notwithstanding the foregoing and for the avoidance of doubt, Executive’s service as Chairman of the Board, President
and Chief Executive Officer of Twin Vee Powercats Co. (“Twin Vee”) and its affiliates and any successor thereto shall not
violate this Section 3.

 

4.
         Cash Compensation.

 

(a)
       Base Salary. During the Term of this Agreement, Executive shall receive
a base salary at a gross rate of Seventy-Five Thousand Dollars ($75,000) per annum (the “Base Salary”), payable in substantially
equal installments in accordance with the Company’s normal payroll practices for payment of its employees, as in effect from time
to time. Executive’s Base Salary shall be subject to upward adjustment from time to time, as determined by the Board (or a committee
thereof) in its sole discretion, but shall not be adjusted downward.

 

(b)
       Bonuses - Other Compensation. Executive shall be eligible to receive a target annual performance cash bonus of 100% of Executive’s
then-Base Salary (“Annual Target Bonus”). Executive’s Annual Target Bonus is not guaranteed and will be based on the
Company’s performance and/or Executive’s individual performance as determined by the Compensation Committee of the Board
(the “Committee”) in its discretion. The actual payout for this award will be calculated based solely on achievement against
performance measures approved by the Committee. Each year, specific targets will be approved by the Committee in the year’s first
quarter and communicated to Executive following such approval. Performance against these goals will be assessed after year end, with
payout made no later than March 15 of the year following the year in respect of which the bonus was earned, subject to Executive’s
continued employment through the payment date. In addition, during the Term of this Agreement, the Board, in its sole discretion, may
award additional compensation to Executive other than as specifically provided by this Agreement.

 

(c)        Health
Insurance. During the Term of this Agreement, the Company shall pay for the cost of medical insurance for coverage for Executive
and his family; provided that Executive shall not be eligible for health insurance under this Section 4(c) if he is eligible to receive
health insurance from Twin Vee or another entity.

 

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5.         
Equity Compensation.

 

(a)        Initial
Stock Option Grants. As soon as practicable following the date that the registration statement
registering shares of the Company’s common stock for its initial public offering is declared effective, Executive will be granted
a stock option to purchase Four Hundred Thousand (400,000) shares of Company common stock, pursuant to the Company’s option agreement
under the Company’s 2022 Stock Incentive Plan or a successor thereto (the “Plan”). The option shall vest and become
exercisable in 36 equal monthly installments commencing on the first day of the month following the issuance date, subject to Executive’s
continued employment through each such vesting date.

 

(b)        Equity Grants. In its sole discretion, the Board may grant to Executive from time to time stock options to purchase shares of
Company common stock or such other equity awards as it may determine.

 

6.         
Executive Benefits.

 

(a)
       Generally. During the Term of this Agreement, Executive shall be eligible to participate in all benefit and fringe benefit plans
made available to other executive officers of the Company. Any such participation shall be subject to the terms and conditions of the
applicable plan documents, applicable law, generally applicable Company policies, and the discretion of the Company, all as provided
for in or contemplated by such plans. Subject to the terms of such plans and applicable law, the Company may alter, modify, add to or
delete its employee benefit plans at any time, in its sole discretion, without recourse by Executive.

  

(b)        Vacation. Executive shall be entitled to four (4) weeks per year paid vacation time as provided in the Company’s vacation
policies and procedures as in effect from time to time. Executive may take accrued vacation at such time or times as are mutually agreed
upon by Executive and the Company. All matters relating to vacation time, including but not limited to accrual, carryover and forfeiture
of vacation time, shall be governed by, and Executive agrees to be bound by, the Company’s policies and procedures regarding vacation
time as in effect from time to time.

 

7.        
Expenses. The Company will reimburse Executive for reasonable travel, entertainment and other expenses incurred by Executive in
the furtherance of the performance of Executive’s duties hereunder, in accordance with the Company’s expense reimbursement
policy as in effect from time to time. The Company and/or the Board may periodically audit or review such expenses to ensure they are
for legitimate business expenses.

 

8.
       Deduction and Withholding. Notwithstanding any other provision of this Agreement, any payments or benefits hereunder shall be
subject to the withholding of such amounts, if any, relating to tax and other payroll deductions, as the Company reasonably determines
it should withhold pursuant to any applicable law or regulation.

 

9.         
Termination of Agreement.

 

(a)        Termination
Date. Executive’s employment and this Agreement (except as otherwise provided hereunder) shall terminate upon the first to
occur of any of the following, at the time set forth therefore (the “Termination Date”):

 

 (i)           
Mutual Termination. At any time by the mutual written agreement of Company and Executive;

 

 (ii)         
Death or Disability. Immediately upon the death of Executive or, subject to applicable law, a determination by Company that Executive
has a Disability;

 

 (iii)
        Voluntary Termination By Executive. 90 days following Executive’s written notice to Company of termination of employment;
provided, however, that Company may waive all or a portion of such notice period and accelerate the effective date of such termination
(termination pursuant to this Subsection being referred to herein as “Voluntary” termination);

 

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 (iv)        
Termination For Cause By Company. Immediately following notice of termination for “Cause” given by Company (as defined
below) and failure by Executive to Cure (as defined below), if applicable, with such notice specifying such Cause (termination pursuant
to this Subsection being referred to herein as termination for “Cause”);

 

 (v)         
Termination Without Cause By Company. The Company may terminate without Cause Executive’s employment under this Agreement
at any time (termination pursuant to this Subsection being referred to herein as termination “Without Cause”); or

 

 (vi)        
Termination For Good Reason by Executive. Subject to the notice and remedy provisions described in Section 14(d) below, at the
election of Executive for Good Reason so long as the Separation From Service (as such phrase is defined in Code Section 409A; Treasury
Regulations Section 1.409A-1(h)) on account of any such condition occurs not later than sixty (60) days following the expiration of the
thirty-day (30-day) remedy period described in Section 14(d) below.

 

(b)
      No Limitation on Remedies. Termination pursuant to this Section 9 shall be in addition to and without prejudice to any other right
or remedy to which Company may be entitled at law, in equity, or under this Agreement.

 

10.      
Basic Rights at Termination. In the event Executive’s employment with the Company is terminated for any reason, Executive
will be entitled to any (a) unpaid Base Salary accrued up to the effective date of termination; (b) benefits or compensation as provided
under the terms of any employee benefit and compensation agreements or plans applicable to Executive; (c) unreimbursed business expenses
required to be reimbursed to Executive in accordance with and subject to Company’s policies applicable thereto; and (d) rights
of indemnification to which Executive may be entitled as of the Termination Date under the Company’s Certificate of Incorporation,
Bylaws, this Agreement, or separate indemnification agreement, as applicable. In addition, Executive will be entitled to the amounts
and benefits specified in Section 11 of this Agreement, to the extent applicable.

 

11.
      Termination Benefits.

 

(a)        Termination Without Cause or Resignation for Good Reason other than In Connection with a Change of Control. If Executive’s
employment is terminated by the Company without Cause or if Executive resigns for Good Reason, and such termination is not In Connection
with a Change of Control (as defined in Section 13(f) below), then, subject to Section 11(f), Executive will receive: (i) payment of
an aggregate amount equal to Executive’s monthly Base Salary as is in effect on the Termination Date multiplied by 12 (less applicable
tax withholdings), such amounts to be paid out monthly in substantially equal installments over the six month period following such termination
in accordance with the Company’s normal payroll policies; (ii) payment of the annual bonus (pursuant to Section 4(b)) accrued for
the year prior to such termination (to the extent not already paid); (iii) payment of Executive’s annual bonus for the year of
such termination, to the extent Executive would have received such bonus had Executive remained employed through the applicable payment
date of such bonus, appropriately pro-rated based on the number of days that Executive was employed by the Company during the year of
the termination, paid when the Company’s other senior executive receive payment of their annual bonuses; (iv) full vesting with
respect to Executive’s then outstanding, unvested equity awards that were awarded under the Company’s 2022 Stock Incentive
Plan; (v) extension of the exercise period for all of Executive’s then outstanding vested stock options (including those that vested
pursuant to clause (iii) herein) to the first to occur of: the six (6) month anniversary of the date of termination, the expiration date
of the stock options, or such earlier time as provided under the applicable plan or grant agreement with respect to a Change of Control;
and (vi) reimbursement for any premiums paid for continued health benefits for Executive (and any eligible dependents) under the Company’s
health plans until the earlier of (x) twelve (12) months, payable when such premiums are due (provided Executive validly elects to continue
coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) or similar state law or (y) the date upon which
Executive and Executive’s eligible dependents become covered under similar plans.

 

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(b)
      Termination Without Cause or Resignation for Good Reason In Connection with a Change of Control. If Executive’s employment
is terminated by the Company without Cause or by Executive for Good Reason, and the termination is In Connection with a Change of Control,
then, subject to Section 11(f), Executive will receive: (i) payment of an aggregate amount equal to Executive’s monthly Base Salary
as is in effect on the Termination Date multiplied by 18 (less applicable tax withholdings), such amounts to be paid out in substantially
equal installments over the twelve month period following such termination in accordance with the Company’s normal payroll policies;
(ii) payment of the annual bonus (pursuant to Section 4(b)) accrued for the year prior to such termination (to the extent not already
paid); (iii) Executive’s then-current Annual Target Bonus; (iv) a pro-rata portion of Executive’s Annual Target Bonus for
the year of such termination paid in lump sum; (v) full vesting with respect to Executive’s then outstanding, unvested equity awards
that were granted under any of the Company’s equity incentive plans; (vi) extension of the exercise period for all of Executive’s
outstanding stock options to the first to occur of: the six (6) month anniversary of the date of termination, the expiration date of
the stock options, or such earlier time as provided under the applicable plan or grant agreement with respect to a Change of Control;
and (vii) reimbursement for any premiums paid for continued health benefits for Executive (and any eligible dependents) under the Company’s
health plans until the earlier of (x) eighteen (18) months, payable when such premiums are due (provided Executive validly elects to
continue coverage under COBRA or similar state law), or (y) the date upon which Executive and Executive’s eligible dependents become
covered under similar plans.

 

(c)      
Voluntary Termination Without Good Reason or Termination for Cause. If Executive’s employment is terminated voluntarily
by him without Good Reason or is terminated for Cause by the Company, then, except as otherwise provided in the first sentence of Section
10 above or Section 11(e), (i) all further vesting of Executive’s outstanding equity awards will terminate immediately; and (ii)
all payments of compensation by the Company to Executive hereunder will terminate immediately.

 

(d)       Termination Due to Death or Disability. If Executive’s employment is terminated due to death or Disability, and (x) such
termination is not In Connection with a Change of Control, all outstanding, unvested equity awards that were awarded under the Company’s
2022 Stock Incentive Plan will then vest, or (y) such termination is In Connection with a Change of Control, all outstanding, unvested
equity awards granted under any of the Company’s equity incentive plans will then vest. All outstanding vested stock options (including
those that vested under (x) or (y) herein, will remain exercisable until the first to occur of: the six (6) month anniversary of the
date of termination, the expiration date of the stock options, or such earlier time as provided under the applicable plan or grant agreement
with respect to a Change of Control. Except as otherwise provided in this Section 11(d), the first sentence of Section 10 above, or Section
11(e), all payments of compensation by the Company to Executive hereunder will terminate immediately upon Executive’s termination.

 

(e)
      Separation Agreement and Release of Claims. The receipt of any severance
or other benefits pursuant to Sections 11(a) or 11(b) will be subject to and conditioned on Executive first signing and not otherwise
revoking a separation agreement and release of claims in substantially the form appended hereto as Exhibit A (the “Release
Agreement”), which Release Agreement shall contain Executive’s affirmation of his obligation not to compete with the Company
as described in Section 15 herein. For this purpose, the Release Agreement must be signed by Executive and returned to the Company no
later than thirty (30) days following the Termination Date in accordance with the terms of the Release Agreement. Notwithstanding any
other provision of this Agreement to the contrary, no severance or other benefits will be paid or provided unless the Release Agreement
becomes effective, and any severance amounts or benefits otherwise payable between the Termination Date and the forty-fifth (45th) day
following the Termination Date will be paid on such forty-fifth (45th) day.

 

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(f)         No
Duty to Mitigate. Executive will not be required to mitigate the amount of any payment contemplated by this Agreement, nor will any
earnings that Executive may receive from any other source reduce any such payment.

 

12.
      Section 280G; Parachute Payments. If any payment or distribution by the Company to or for the benefit of Executive, whether paid
or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise pursuant to or by reason of any other
agreement, policy, plan, program or arrangement or the lapse or termination of any restriction on or the vesting or exercisability of
any payment or benefit (each a “Payment”), would be subject to the excise tax imposed by Code Section 4999 (or any successor
provision thereto) or to any similar tax imposed by state or local law (such tax or taxes are hereafter collectively referred to as the
“Excise Tax”), then the aggregate amount of Payments payable to Executive shall be reduced to the aggregate amount of Payments
that may be made to Executive without incurring an excise tax (the “Safe-Harbor Amount”) in accordance with the immediately
following sentence; provided that such reduction shall only be imposed if the aggregate after-tax value of the Payments retained by Executive
(after giving effect to such reduction) is equal to or greater than the aggregate after-tax value (after giving effect to the Excise
Tax) of the Payments to Executive without any such reduction. Any such reduction shall be made in the following order: (i) first, any
future cash payments (if any) shall be reduced (if necessary, to zero); (ii) second, any current cash payments shall be reduced (if necessary,
to zero); (iii) third, all non-cash payments (other than equity or equity derivative related payments) shall be reduced (if necessary,
to zero); and (iv) fourth, all equity or equity derivative payments shall be reduced.

 

13.       
Definitions.

 

(a)        Cause.
(A) Executive’s conviction of or plea of nolo contendere to a felony; (B) Executive’s commission of fraud, misappropriation
or embezzlement against any person; (C) the theft or misappropriation by Executive of any property or money of the Company or an affiliate;
(D) Executive’s breach of the terms of this Agreement; or (E) the willful or gross neglect of Executive’s duties, the willful
or gross misconduct in performance of Executive’s duties or the willful violation by Executive of any material Company policy.
Notwithstanding the foregoing, Cause shall not exist with respect to subsection (D) or (E), until and unless Executive fails to cure
such breach, neglect or misconduct (if such breach, neglect or misconduct is capable of cure) within 10 days after written notice from
the Board.

 

(b)        Code. shall mean the Internal Revenue Code of 1986, as amended from time to time.

 

(c)
       Change of Control. For purposes of this Agreement, “Change of Control” will mean the occurrence of any of the following
events:

 

 (i)
           The consummation by the Company of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation
which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving entity) more than 50% of the total voting power represented
by the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation;

 

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 (ii)
         The approval by the stockholders of the Company, or if stockholder approval is not required, approval by the Board, of either (1) a plan
of complete liquidation of the Company or (2) an agreement for the sale or disposition by the Company of all or substantially all of
the Company’s assets; or

 

 (iii)
         Any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) becoming
the “beneficial owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing
50% or more of the total voting power represented by the Company’s then outstanding voting securities.

 

Notwithstanding
the foregoing, a Change of Control will not be deemed to have occurred unless such event would also be a Change in Control under Code
Section 409A or would otherwise be a permitted distribution event under Code Section 409A.

 

(d)
      Disability. For purposes of this Agreement, “Disability” will mean Executive’s inability to substantially perform
his duties under this Agreement as a result of incapacity by reason of any medically determinable physical or mental impairment that
can be expected to result in death or to last for a period of twelve (12) months.

 

(e)
       Good Reason. For purposes of this Agreement, “Good Reason” means the occurrence of any of the following conditions,
without Executive’s express written consent; provided, however, that Executive’s employment is terminated no later than one
hundred eighty (180) days following the initial existence of one or more of the following conditions; provided further, that Executive
must provide the Company notice of Good Reason within ninety (90) days of the initial existence of one of the following conditions, upon
which notice the Company shall then have thirty (30) days in which to remedy the condition, under which circumstances the Company shall
not be required to pay any amounts specified in Section 11 of this Agreement:

 

 (i)
          A material diminution in Executive’s authority, duties or responsibilities in effect immediately prior to such diminution;

 

 (ii)
         A material diminution in Executive’s Base Salary that persists for longer than 12 months; or

 

 (iii)
         Any other action or inaction that constitutes a material breach by the Company of this Agreement.

 

(f)
       In Connection with a Change of Control. For purposes of this Agreement,
a termination by Company of Executive’s employment with the Company is “In Connection with a Change of Control” if
Executive’s employment is terminated by Company without Cause or by Executive for Good Reason within twelve (12) months following
a Change of Control.

 

14.       
Return of Company Property and Records. Upon any termination of employment for any reason or no reason, or upon the Company’s
request at any time, Executive shall immediately return to the Company all property of the Company in Executive’s possession (including
computers, smart phones and other portable electronic devices) and all documents and other materials in any medium including but not
limited to electronic, which relate in any way to the Company, including notebooks, correspondence, memos, drawings or diagrams, computer
files and databases, graphics and formulas, whether prepared by Executive or by others and whether required by Executive’s work
or for his personal use, whether copies or originals, unless Executive first obtains the Company’s written consent to keep such
records.

 

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15.      
Non-Competition. In consideration of the rights and benefits hereunder, including but not limited to the payments and benefits
referenced in Section 11(g), Executive agrees that so long as he or she is an employee of the Company and for a period of twelve (12)
months after the date of termination of Executive’s employment for any reason (the “Restricted Period”), Executive
shall not, without the prior written consent of the Company, own any interest in, control, participate in, work for, become employed
by, or provide services to (whether as an employee, consultant, independent contractor or otherwise) any individual or entity that competes
with the Company in the design, manufacture or marketing of recreational and commercial electric power boats. This Section 15 shall survive
the termination of this Agreement. Notwithstanding the foregoing and for the avoidance of doubt, Executive’s service as Chairman
of the Board, President and Chief Executive Officer of Twin Vee and its affiliates and any successor thereto shall not violate this Section
15.

  

16.
      Non-Solicitation. In consideration of the rights and benefits hereunder, Executive agrees that during the Restricted Period, he
or she shall not, without the prior written consent of the Company: (i) solicit or encourage any employee of the Company or its affiliates
to leave the employment of the Company or such affiliate; or (ii) solicit or encourage any client of the Company or any of its affiliates
(including any investors in funds managed by the Company or its affiliates) to cease to do business with the Company or its affiliates.
The only exceptions to the restrictions in this paragraph are: (i) clients (if any) with which Executive had a significant and provable
business relationship prior to his/her employment with the Company, and (ii) where Executive has the express, prior written consent of
the Board to be released in whole or part from this section of the Agreement. This Section 16 shall survive the termination of this Agreement.

 

17.
      Confidentiality. Executive agrees that during Executive’s employment with the Company, will have access to confidential
information and/or proprietary information about the Company and/or its clients, including, but not limited to, investment strategies,
programs or ideas, trade secrets, methods, models, passwords, access to computer files, financial information and records, forecasts,
computer software programs, agreements and/or contracts between the Company and its respective clients, client contracts, prospective
contracts, creative policies and ideas, public relations and public affairs campaigns, media materials, budgets, practices, concepts,
strategies, methods of operation, technical and scientific information, discoveries, developments, formulas, specifications, know-how,
design inventions, marketing and business strategies and financial or business projects, and information about or received from clients
and other companies with which the Company does business. The foregoing shall be collectively referred to as “Confidential Information.”
Any information that is not readily available to the public shall be considered to be Confidential Information, even if it is not specifically
marked as such, unless the Company advises Executive otherwise in writing. Such Confidential Information is not readily available to
the public and accordingly, Executive agrees that he or she will not at any time, whether during his employment with the Company or thereafter,
disclose to anyone, (other than in furtherance of the business of the Company) any Confidential Information, or utilize such Confidential
Information for his own benefit, or for the benefit of third parties. Executive also agrees to preserve and protect the confidentiality
of any third party information similar to the Confidential Information to the same extent, and on the same basis, as the Company’s
Confidential Information. To the extent that any Confidential Information shall become the subject of any search warrant, court order,
lawful subpoena, governmental investigation disclosure request or mandate, or the like (a “Disclosure Request”), Executive
will notify the Company immediately, provide the Company adequate opportunity to oppose such Disclosure Request and reasonably assist
the Company, at no cost to Executive, in opposing such Disclosure Request or seeking a protective order or such other limitation on disclosure
as may be reasonably requested by the Company. If, after providing the notice and assistance required by the immediately preceding sentence,
Executive is still required by lawful order to disclose any Confidential Information, Executive shall only disclose such information
as is specifically required by such lawful order. The confidentiality protections available in this Agreement are in addition to, and
not exclusive of, any and all other rights, including those provided under copyright, officer or director fiduciary duties and trade
secret and confidential information laws. This confidentiality covenant has no temporal, geographical or territorial restriction. This
Section 17 shall survive the termination of this Agreement.

 

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Notwithstanding
anything herein to the contrary, nothing in this Agreement shall (x) prohibit Executive from making reports of possible violations of
federal law or regulation to any governmental agency or entity in accordance with the provisions of and rules promulgated under Section
21F of the Securities Exchange Act of 1934, as amended, or Section 806 of the Sarbanes-Oxley Act of 2002, or of any other whistleblower
protection provisions of federal law or regulation, or (y) require notification or prior approval by the Company of any such report;
provided that, Executive is not authorized to disclose communications with counsel that were made for the purpose of receiving legal
advice or that contain legal advice or that are protected by the attorney work product or similar privilege.

 

DEFEND
TRADE SECRETS ACT NOTICE AND RELATED PROVISIONS: The Defend Trade Secrets Act of 2016 provides as follows: (1) An individual shall not
be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made in
confidence to a federal, state or local government official or to an attorney and such disclosure is made (a) solely for the purpose
of reporting or investigating a suspected violation of law or (b) in a complaint or other document filed in a lawsuit or other proceeding
if such filing is made under seal. (2) An individual may disclose a trade secret to that individual’s attorney for the purpose
of filing a lawsuit for retaliation by an employer for reporting a suspected violation of law and use the trade secret information in
the court proceeding provided the individual files any document containing the trade secret under seal and the individual does not disclose
the trade secret except pursuant to court order. The Defend Trade Secrets Act also provides that a court enforcing that law may, if a
trade secret is found to have been willfully and maliciously misappropriated, award (a) “exemplary damages” in an amount
of up to two times the amount of damages awarded for actual loss caused by the misappropriation of a trade secret and damages for unjust
enrichment caused by the misappropriation of the trade secret, or a reasonable royalty for the misappropriation, and (b) reasonable attorneys’
fees against the misappropriating party.

 

18.     
 Intellectual Property Assignment. For the purposes of this Agreement, the “business of the Company” is defined as
the design, manufacture or marketing of recreational and commercial electric power boats. In the course of Executive’s employment,
Executive may develop, conceive, generate, or contribute to, alone and/or jointly with others, tangible and intangible property including
without limitation, inventions, improvements, business systems, works of authorship, algorithms, software, hardware, knowhow, designs,
techniques, methods, documentation and other material, regardless of the form or media in or on which it is stored, some or all of which
property may be protected by patents, copyrights, trade secrets, trade-marks, industrial designs or mask works, that relates to the business
of the Company or to the Company’s actual or demonstrably anticipated research and development, or relates to or incorporates any
Confidential Information, and whether or not made on the Company’s time or premises or using the Company’s resources, equipment,
supplies or facilities, (which tangible and intangible property is collectively referred to in this Agreement as “Proprietary Property”).

 

All
right, title and interest in and to Confidential Information and Proprietary Property (including, without limitation, the Proprietary
Property described below), belongs to the Company, and Executive has no rights in any such Confidential Information and Proprietary Property.
For greater certainty, all right, title and interest (including without limitation any intellectual property rights) in and to all Confidential
Information and Proprietary Property that Executive may acquire or hold in the course of his employment is hereby assigned to the Company.
Executive acknowledges that a Company customer or other third party (referred to in this Agreement as “Customer”) may, under
the terms of its agreement with the Company, own the applicable right, title and interest (including without limitation any intellectual
property rights) in certain Proprietary Property (referred to in this Agreement as “Customer Proprietary Property”) and Executive
agrees to abide by any and all terms of said Customer agreements as they relate to Customer Proprietary Property and Customer confidential
information.

 

    9

     

    

 

Executive
agrees that all of the work product that Executive helps to develop while employed with the Company is the exclusive property and Confidential
Information of the Company. Any such work product will be considered to be a work made for hire. Executive agrees to make full disclosure
to the Company of and to properly document any development of Proprietary Property that Executive is involved in, and to provide written
documentation describing such development to the Company, promptly after its creation. At the request and expense of the Company, both
during and after employment, Executive will do all acts necessary and sign all documentation requested by the Company in order to assign
all right, title and interest in and to the Proprietary Property to the Company (or to the applicable Customer, in relation to Costumer
Proprietary Property) and to enable the Company (or the applicable Customer in relation to Customer Proprietary Property) to register
(and to assist the Company to protect and defend its rights in and under any) patents, copyrights, trademarks, trade secrets, mask works,
industrial designs and such other protections as the Company (or such Customer) deems advisable anywhere in the world. Executive hereby
constitutes and appoints the Company and each and every director of the Company as Executive’s true and lawful attorney with full
power of substitution in Executive’s name of and on Executive’s behalf with no restriction or limitation in that regard,
to execute and deliver all such documentation as may be necessary to permit any intellectual property application to be completed as
provided in this Agreement; the foregoing power of attorney shall be irrevocable (to the fullest extent permitted by law) and is a power
coupled with an interest and shall bind Executive and Executive’s heirs, executors and legal personal representatives.

 

All
notes, data, tapes, reference items, sketches, drawings, memoranda, records, documentation and other material regardless of the form
or media in or on which it is stored, that is in or comes into Executive’s possession or control, and that is in any way obtained,
developed, conceived, generated or contributed to by Executive, alone and/or jointly with others, during or as a result of Executive’s
employment, is and remains Proprietary Property within the meaning of this Agreement.

 

The
Company and Executive agree and understand that the Company claims no right and agrees to release to Executive all rights in any tangible
or intangible property, provided that (i) it was developed by Executive entirely on Executive’s own time, without using the Company’s
or any Customer’s resources, equipment, supplies, facilities, or funds, (ii) it does not relate to the business of the Company
or Customer or to the Company’s or Customer’s actual or demonstrably anticipated research and development, (iii) it does
not relate to or incorporate any Confidential Information or result from any work performed by Executive for the Company or the Customer;
and (iv) it was disclosed by Executive to the Company promptly after its creation.

 

Without
limiting the generality of the foregoing, such property includes the excluded property listed on the attached Exhibit B.
If disclosure would cause Executive to violate any prior confidentiality agreement, Executive understands that Executive is not to list
details of such items in Exhibit B but instead to include a general/generic listing and to inform the Company that details
have not been listed for that reason. If there is no attached Exhibit B, there is no such excluded property.

 

19.
      Cooperation. Following the date of termination or expiration of this Agreement for any reason, upon the receipt of reasonable
notice from the Company (including outside counsel to the Company) or their affiliates, Executive hereby agrees that he or she will respond
and provide information with regard to matters in which he or she has knowledge as a result of his employment and association with the
Company. Executive also agrees that he or she will provide reasonable assistance to the Company and its affiliates and their respective
representatives in the defense of any claims that may be made against the Company or any of its affiliates, and will assist the Company
and its affiliates in the prosecution of any claims that may be made by the Company or any of its affiliates to the extent that such
claims may relate to the Term. Executive hereby agrees to promptly inform the Company (to the extent Executive is legally permitted to
do so) if Executive is asked to assist in any investigation of the Company or any of its affiliates or their actions, regardless of whether
a lawsuit or other proceeding has then been filed with respect to such investigation. This Section 19 shall survive the termination of
this Agreement.

 

    10

     

    

 

20.      
Indemnification. Subject to applicable law, Executive will be provided indemnification to the maximum extent permitted by the
Company’s Articles of Incorporation, Bylaws, this Agreement, or separate indemnification agreement, as applicable, including, if
applicable, any directors and officers insurance policies, with such indemnification to be on terms determined by the Board or any of
its committees, but on terms no less favorable than provided to any other Company executive officer or director and subject to the terms
of any separate written indemnification agreement.

 

21.
      Section 409A. The following rules shall apply, to the extent necessary, with respect to distribution of the payments and benefits,
if any, to be provided to Executive under this Agreement. Subject to the provisions in this Section, the severance payments pursuant
to this Agreement shall begin only upon the date of Executive’s “separation from service” (determined as set forth
below) which occurs on or after the date of Executive’s termination of employment.

 

(a)       
This Agreement is intended to comply with or be exempt from Code Section 409A and the parties hereto agree to interpret, apply and administer
this Agreement in the least restrictive manner necessary to comply therewith or be exempt therefrom and without resulting in any increase
in the amounts owed hereunder by the Company.

 

(b)       
It is intended that each installment of the severance payments and benefits provided under this Agreement shall be treated as a separate
“payment” for purposes of Section 409A of the Code and the guidance issued thereunder (“Section 409A”). Neither
Executive nor the Company shall have the right to accelerate or defer the delivery of any such payments or benefits except to the extent
specifically permitted or required by Section 409A.

 

(c)      
If, as of the date of Executive’s “separation from service” from the Company, Executive is a “specified employee”
(within the meaning of Section 409A), then: each installment of the severance payments and benefits due under this Agreement that, in
accordance with the dates and terms set forth herein, will in all circumstances, regardless of when the separation from service occurs,
be paid within the short-term deferral period (as defined in Section 409A) shall be treated as a short-term deferral within the meaning
of Treasury Regulation Section 1.409A-1(b)(4) to the maximum extent permissible under Section 409A; and each installment of the severance
payments and benefits due under this Agreement that is not described in the preceding sentence and that would, absent this subsection,
be paid within the six-month period following Executive’s “separation from service” from the Company shall not be paid
until the date that is six months and one day after such separation from service (or, if earlier, Executive’s death), with any
such installments that are required to be delayed being accumulated during the six-month period and paid in a lump sum on the date that
is six months and one day following Executive’s separation from service and any subsequent installments, if any, being paid in
accordance with the dates and terms set forth herein; provided, however, that the preceding provisions of this sentence shall not apply
to any installment of severance payments and benefits if and to the maximum extent that such installment is deemed to be paid under a
separation pay plan that does not provide for a deferral of compensation by reason of the application of Treasury Regulation 1.409A-1(b)(9)(iii)
(relating to separation pay upon an involuntary separation from service). Any installments that qualify for the exception under Treasury
Regulation Section 1.409A-1(b)(9)(iii) must be paid no later than the last day of the second taxable year following the taxable year
in which the separation from service occurs.

 

    11

     

    

 

(d)      
The determination of whether and when Executive’s separation from service from the Company has occurred shall be made in a manner
consistent with, and based on the presumptions set forth in, Treasury Regulation Section 1.409A-1(h). Solely for purposes of this Section,
“Company” shall include all persons with whom the Company would be considered a single employer as determined under Treasury
Regulation Section 1.409A- 1(h)(3).

 

(e)      
All reimbursements and in-kind benefits provided under this Agreement shall be made or provided in accordance with the requirements of
Section 409A to the extent that such reimbursements or in-kind benefits are subject to Section 409A, including, where applicable, the
requirements that (i) any reimbursement is for expenses incurred during Executive’s lifetime (or during a shorter period of time
specified in this Agreement), (ii) the amount of expenses eligible for reimbursement during a calendar year may not affect the expenses
eligible for reimbursement in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last
day of the calendar year following the year in which the expense is incurred and (iv) the right to reimbursement is not subject to set
off or liquidation or exchange for any other benefit.

 

(f)
       Notwithstanding anything herein to the contrary, the Company shall have no liability to Executive or to any other person if the payments
and benefits provided in this Agreement that are intended to be exempt from or compliant with Section 409A are not so exempt or compliant.

 

22.       
Notices. Any notice hereunder by either party to the other shall be given in writing by personal delivery or by registered mail,
return receipt requested, addressed, if to the Company, to the attention of the Company’s Chairman of the Board of Directors at
the Company’s principal offices or to such other address as the Company may designate in writing to Executive, and if to Executive,
to his most recent home address on file with the Company. Notice shall be deemed given, if by personal delivery, on the date of such
delivery or, if by registered mail, on the date shown on the applicable return receipt.

 

23.      
Entire Agreement; Modification. This Agreement constitutes the entire understanding and agreement between the parties hereto with
regard to the subject matter hereof, and supersedes all prior understandings and agreements, whether written or oral. This Agreement
may not be amended, supplemented, revised or otherwise modified except by a writing signed by the parties hereto.

 

24.
      Assignment. This Agreement may not be assigned, in whole or in part, by any party without the prior written consent of the other
party, except that the Company may, without the consent of Executive, assign its rights and obligations under this Agreement to any corporation,
firm or other business entity with or into which the Company may merge or consolidate, or to which the Company may sell or transfer all
or substantially all of its assets. After any such assignment by the Company, the Company shall be discharged from all further liability
hereunder and such assignee shall have all the rights and obligations of the Company under this Agreement.

 

25.
     Captions, Sections and Headings. Captions, sections and headings herein have been inserted solely for convenience of reference
and in no way limit the scope or substance of any provision of this Agreement.

 

26.
      Severability. If any of the provisions of this Agreement is held to be excessively broad by any agency, tribunal or court of competent
jurisdiction, it shall be reformed and construed by limiting and reducing it so as to be enforceable to the maximum extent permitted
by law. If any portion or provision of this Agreement shall to any extent be declared illegal or unenforceable by any agency, tribunal
or court of competent jurisdiction, even after the reformation and construction as described in the preceding sentence, then the remainder
of this Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal
or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the
fullest extent permitted by law.

 

    12

     

    

 

27.
      Injunctive Relief. Executive acknowledges and agrees that the Company’s remedies at law for a breach or threatened breach
of this Agreement would be inadequate and, in recognition of this fact, Executive agrees that, in the event of such a breach or threatened
breach, in addition to any remedies at law, the Company, without posting any bond, shall be entitled to obtain equitable relief in the
form of specific performance, temporary restraining orders, temporary or permanent injunctions or any other equitable remedy which may
then be available.

 

28.       
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida applicable
to contracts executed and performed in such state without giving effect to conflicts of laws principles.

 

29.
      Opportunity to Obtain Counsel; Acknowledgments. In connection with the preparation of this Agreement, Executive acknowledges and
agrees that: (a) Executive has been advised that his interests may be opposed to the interests of Company and, accordingly, Company counsel’s
representation in the negotiation of this Agreement may not be in the best interests of Executive; and (b) Executive has been advised
to and has so retained separate legal counsel. Executive warrants and agrees that he has read and fully understands the terms and conditions
of this Agreement. By signing this Agreement, Executive is affirming that he has freely and of Executive’s own volition acknowledged
and agreed to all terms and conditions contained in this Agreement. Executive acknowledges that he had at least ten (10) business days
to consider the terms of this Agreement prior to it becoming effective in accordance with its terms.

 

30.
      Construction and Interpretation. Should any provision of this Agreement require judicial interpretation, the parties hereto agree
that the court interpreting or construing the same shall not apply a presumption that the terms hereof shall be more strictly construed
against one party by reason of the rule of construction that a document is to be more strictly construed against the party that itself,
or through its agent, prepared the same, and it is expressly agreed and acknowledged that Company and Executive and each of his and its
representatives, legal and otherwise, have participated in the preparation hereof.

 

31.       
No Third Party Beneficiary. The terms and provisions of this Agreement are intended solely for the benefit of each party hereto
and Company’s successors or assigns, and it is not the intention of the parties to confer third-party beneficiary rights upon any
other person.

 

32.      
Waiver. No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party. The failure
of either party to require the performance of any term or obligation of this Agreement, or the waiver by either party of any breach of
this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach.

 

33.
      Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument, and in pleading or proving any provision of this Agreement it shall not
be necessary to produce more than one such counterpart. No counterpart shall be effective until each party has executed at least one
counterpart. For the convenience of the parties, facsimile and pdf signatures shall be accepted as originals.

 

[Signature
Page Follows]

  

IN
WITNESS WHEREOF, the parties hereto have duly executed this Agreement as a binding contract as of the date first above written.

 

    13

     

    

 

	FORZA X1, INC.	 	EXECUTIVE
	 	 	 	 
	By:	 	 	By:	 
	Name:	Jim Leffew	 	Name:	Joseph Visconti
	Title:	President	 	 

 

    14

     

    

 

EXHIBIT
A

 

FORM
OF GENERAL RELEASE OF ALL CLAIMS

 

This
General Release of All Claims is made as of ______________, 202_ (“General Release”), by and between FORZA X1, INC. (the
“Company”), and____________ (the “Executive”).

 

WHEREAS,
the Company and Executive are parties to an Employment Agreement dated as of________, 2022 (the “Employment Agreement”);

 

WHEREAS,
the Company wishes to terminate Executive’s employment with the Company without Cause or the Executive wishes to resign with Good
Reason;

 

WHEREAS,
defined terms not defined in this General Release have the meanings given to them in the Employment Agreement;

 

WHEREAS,
the execution of this General Release is a condition precedent to the payment of certain payments or benefits following the Executive’s
termination, as set forth in Section 11 of the Employment Agreement;

 

WHEREAS,
in consideration for Executive’s signing of this General Release, as well as Executive’s continued compliance with the Employment
Agreement, including without limitation the non-competition and other restrictive covenants contained in Sections 15 through 17 of the
Employment Agreement, the Company will provide such payments or benefits to which the Executive may be entitled pursuant to Section 11
of the Employment Agreement; and

 

WHEREAS,
Executive and the Company intend that this General Release shall be in full satisfaction of the obligations described in Section 11(f)
of the Employment Agreement owed by Executive to the Company.

 

NOW,
THEREFORE, in consideration of the promises and the mutual covenants and agreements herein contained, the Company and Executive agree
as follows:

 

1.           
Executive, for himself or herself, Executive’s spouse, heirs, administrators, children, representatives, executors, successors,
assigns, and all other persons claiming through Executive, if any (collectively, “Releasers”), does hereby release, waive,
and forever discharge the Company and each of its respective agents, subsidiaries, parents, affiliates, related organizations, members,
partners, shareholders, employees, officers, directors, attorneys, successors, and assigns (collectively, the “Releasees”)
from, and does fully waive any obligations of Releasees to Releasers for, any and all liability, actions, charges, causes of action,
demands, damages, or claims for relief, remuneration, sums of money, accounts or expenses (including attorneys’ fees and costs)
of any kind whatsoever, whether known or unknown or contingent or absolute, which heretofore has been or which hereafter may be suffered
or sustained, directly or indirectly, by Releasers in consequence of, arising out of, or in any way relating to: (a) Executive’s
employment with the Company or any of its subsidiaries or affiliates; (b) the termination of Executive’s employment with the Company
and any of its subsidiaries or affiliates; (c) the Employment Agreement; or (d) any events occurring on or prior to the date of this
General Release. The foregoing release and discharge, waiver and covenant not to sue includes, but is not limited to, all claims and
any obligations or causes of action arising from such claims, under common law including wrongful or retaliatory discharge, breach of
contract (including but not limited to any claims under the Employment Agreement and any claims under any equity incentive arrangements
between Executive, on the one hand, and the Company or any of its subsidiaries or affiliates, on the other hand) and any action arising
in tort including libel, slander, defamation or intentional

 

    15

     

    

 

infliction
of emotional distress, and claims under any federal, state or local statute including the Age Discrimination in Employment Act (“ADEA”),
Title VII of the Civil Rights Act of 1964 (“Title VII”), the Civil Rights Act of 1866 and 1871 (42 U.S.C. § 1981), the
National Labor Relations Act, the Fair Labor Standards Act, the Executive Retirement Income Security Act, the Americans with Disabilities
Act of 1990 (“ADA”), the Rehabilitation Act of 1973, the discrimination or employment laws of any state or municipality,
and/or any claims under any express or implied contract which Releasers may claim existed with Releasees. This also includes a release
of any claims for wrongful discharge and all claims for alleged physical or personal injury, emotional distress relating to or arising
out of Executive’s employment with the Company or any of its subsidiaries or affiliates or the termination of that employment;
and any claims under the Worker Adjustment and Retraining Notification Act or any similar law, which requires, among other things, that
advance notice be given of certain work force reductions. This release and waiver does not apply to: (i) any right to indemnification
now existing under the Company’s governing documents; (ii) any rights to the receipt of Executive benefits under any Executive
benefit plan which vested on or prior to the date of this General Release; (iii) the right to receive certain payments or benefits under
Section 11 of the Employment Agreement; and (iv) the right to continuation health coverage pursuant to the Consolidated Omnibus Budget
Reconciliation Act.

 

2.
        Excluded from this General Release and waiver are any claims which cannot be waived by law, including but not limited to the right to
participate in an investigation conducted by certain government agencies. Executive does, however, waive Executive’s right to any
monetary recovery should any agency (such as the Equal Employment Opportunity Commission) pursue any claims on Executive’s behalf.
Executive represents and warrants that Executive has not filed any complaint, charge, or lawsuit against the Releasees with any government
agency or any court.

 

3.
        Executive agrees never to seek personal recovery from Releasees in any forum for any claim covered by the above waiver and release language.
If Executive violates this General Release by suing Releasees, Executive shall be liable to the Releasees for their reasonable attorneys’
fees and other litigation costs incurred in defending against such a suit and Executive shall reimburse the Releasees for their costs
and expenses. Nothing in this General Release is intended to reflect any party’s belief that Executive’s waiver of claims
under ADEA is invalid or unenforceable, it being the intent of the parties that such claims are waived.

 

4.
        To the extent, if any, that Executive has rights in any invention, improvement, discovery, process, program, product or system developed
by Executive during his employment with the Company, Executive hereby irrevocably transfers, assigns and conveys such rights to the Company
and agrees that the Company shall be and remain the sole and exclusive owner of all right, title and interest in and to any such invention,
improvement, discovery, process, program, product or system, including, but not limited to, all patent, copyright, trade secret and other
proprietary rights therein that may be secured in any place under laws now or hereinafter in effect.

 

5.
        Executive agrees that neither this General Release, nor the furnishing of the consideration for this General Release, shall be deemed
or construed at any time to be an admission by the Company, any Releasees or Executive of any improper or unlawful conduct.

 

6.        
Executive acknowledges and recites that:

 

(a)       
Executive has executed this General Release knowingly and voluntarily;

 

(b)       
Executive has read and understands this General Release in its entirety;

 

(c)
       Executive has been advised and directed orally and in writing (and this subparagraph (c))

 

    16

     

    

 

(d)
       constitutes such written direction) to seek legal counsel and any other advice Executive wishes with respect to the terms of this General
Release before executing it;

 

(e)
      By execution of this General Release, Executive expressly waives any and all claims relating to age discrimination and disability or
handicap discrimination and releases any rights he may have under Title VII, ADEA, the ADA, and/or any State or local laws;

 

(f)        
Executive hereby acknowledges that the waiver of his rights and/or claims existing under Title VII, ADEA and ADA and/or any State or
local laws is in consideration for payments or benefits to which the Executive is entitled under Section 11of the Employment Agreement;

 

(g)
       Executive’s execution of this General Release has not been forced by any Executive or agent of the Company, and Executive has had
an opportunity to negotiate about the terms of this General Release; and

 

(h)      
Executive has been offered twenty-one (21) calendar days after receipt of this General Release to consider its terms before executing
it.

 

7.        
This General Release shall be governed by the internal laws (and not the choice of laws) of the State of Florida, except for the application
of pre-emptive Federal law.

 

8.       
Executive shall have seven (7) days from the date Executive executes this General Release to revoke Executive’s waiver of any ADEA
claims by providing written notice of the revocation to the Company. In the event that Executive revokes this General Release, the Company
shall have no obligation to make any payments or benefits under Section 11 of the Employment Agreement that were expressly conditioned
on the execution of this release.

 

9.       
Nothing in this General Release shall relieve Executive of his obligations under Sections 15 (Non-Competition), 16 (Non-Solicitation),
or 17 (Confidentiality) of the Employment Agreement and Executive hereby agrees to comply with his obligations as set forth in Sections
15, 16, and 17 of the Employment Agreement.

 

10.
      If this General Release is found to be invalid or unenforceable in any way, the Executive shall execute and deliver to the Company a
revised release which will effectuate Executive’s intention to release the Releasees, as set forth herein, to the maximum extent
permitted by law.

 

PLEASE
READ THIS AGREEMENT CAREFULLY. IT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

  

	Date:	 	 
	 	 	Executive

  

    17

     

    

 

EXHIBIT
B

 

EXCLUDED
PROPERTY FROM INTELLECTUAL PROPERTY ASSIGNMENT

 

18

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