SEC Contract Filing

Filing Date: 2018-06-13

Document Content:
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>4
<FILENAME>f8k060918ex10-6_arcimotoinc.htm
<DESCRIPTION>FORM OF RESTRICTED STOCK AWARD AGREEMENT
<TEXT>
<HTML>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: right"><FONT STYLE="text-transform: none">Exhibit
10.6</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">ARCIMOTO,
INC.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">2018 omnibus
STOCK INCENTIVE PLAN</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">RESTRICTED
STOCK AWARD AGREEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">This Restricted Stock
Award Agreement (this &ldquo;<B>Agreement</B>&rdquo;) is made by and between Arcimoto, Inc. (the &ldquo;<B>Company</B>&rdquo;)
and _____________________ (&ldquo;<B>Grantee</B>&rdquo;) effective as of the Date of Grant (as defined below). This Agreement sets
forth the terms and conditions associated with the Company&rsquo;s award to Grantee of shares of Common Stock pursuant to the Arcimoto,
Inc. 2018 Omnibus Stock Incentive Plan (the &ldquo;<B>Plan</B>&rdquo;) for the number of Shares set forth below. Terms with initial
capitalized letters not explicitly defined in this Agreement but defined in the Plan will have the same definition and meaning
as in the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><B>1. Grant
of Stock.</B> The Company hereby agrees to issue to Grantee ____________________________ (#####) shares of Common Stock (the &ldquo;<B>Shares</B>&rdquo;)
effective as of _________ (the &ldquo;<B>Date of Grant</B>&rdquo;). All of the Shares received by Grantee from the Company pursuant
to this Agreement are subject to the terms of this Agreement, including but not limited to an option by the Company to repurchase
such Shares in certain cases. All references to the number of Shares will be appropriately adjusted to reflect any stock split,
stock dividend, or other change in capitalization that may be made by the Company after the date of this Agreement, as provided
in Section 13 of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><B>2. Vesting<FONT STYLE="font-variant: small-caps">.</FONT></B>
The Shares are unvested when granted, and will vest as described on <U>Exhibit A</U> hereto, subject to Grantee&rsquo;s Continuous
Service with the Company or a Related Entity. Vesting will terminate upon the termination of Grantee&rsquo;s Continuous Service.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><B>3. Company&rsquo;s
Repurchase Option. </B>In the event that a Triggering Event (as defined below) occurs, the Company will have an option (the &ldquo;<B>Repurchase
Option</B>&rdquo;) for a period of 90 days from the date of such event, to repurchase any of the Shares that are not vested under
the vesting schedule set forth on <U>Exhibit A</U> hereto as of the date of such Triggering Event (the &ldquo;<B>Unvested Shares</B>&rdquo;)
for no additional consideration. In the event that the Company elects to exercise the Repurchase Option, it will be exercised by
the Company by written notice to Grantee, which notice will specify the number of Shares and the time (not later than 30 days from
the date of the Company&rsquo;s notice) and place for the closing of the repurchase of the Shares. Upon delivery of such notice
and payment of the purchase price, if any, in accordance with the terms herewith, the Company will become the legal and beneficial
owner of the Shares being repurchased and all rights and interests therein or relating thereto, and the Company will have the right
to retain and transfer to its own name the number of Shares being repurchased by the Company. As used herein, the term &ldquo;<B>Triggering
Event</B>&rdquo; means a termination of Grantee&rsquo;s Continuous Service with the Company or a Related Entity for any reason.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><B>4. Release
of Shares from Repurchase Option<FONT STYLE="font-variant: small-caps">.</FONT></B> In the event the Repurchase Option is triggered
pursuant to a Triggering Event and the Company (or its assigns) fails to exercise the Company&rsquo;s option for the repurchase
of any or all of the Shares then, upon the expiration of the 90-day option period, any and all such Shares not repurchased by the
Company will be released from the Repurchase Option. Upon the release of the Repurchase Option, any Unvested Shares will immediately
vest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-inde