SEC Contract Filing

Filing Date: 2021-04-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>ea139055ex10-4_shifttech.htm
<DESCRIPTION>RSU AWARD AGREEMENT DATED AS OF APRIL 5, 2021 BY AND BETWEEN SHIFT TECHNOLOGIES, INC. AND GEORGE ARISON
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.4</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SHIFT TECHNOLOGIES, INC. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2020 OMNIBUS EQUITY COMPENSATION PLAN</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RSU GRANT AGREEMENT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><B>THIS AGREEMENT</B>
(this &ldquo;<U>Agreement</U>&rdquo;), dated&nbsp;April 5, 2021&nbsp;(the &ldquo;<U>Date of Grant</U>&rdquo;), between Shift Technologies,
Inc., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), and&nbsp;George Arison (&ldquo;<U>Grantee</U>&rdquo;), is made pursuant
and subject to the provisions of the Company&rsquo;s 2020 Omnibus Equity Compensation Plan (the &ldquo;<U>Plan</U>&rdquo;), a copy of
which has been made available to the Grantee. This Agreement is made as a modification of that certain RSU Agreement dated February 2,
2021, between the Company and Grantee (the &ldquo;<U>Original Agreement</U>&rdquo;), to reflect the grant of replacement awards that were
rescinded and canceled by an amendment to the Original Agreement entered into between the Company and Grantee on the date hereof. All
capitalized terms used herein that are not otherwise defined in this Agreement have the same meaning given to them in the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">1. <B>Award.</B>&nbsp;Subject
to the terms and conditions of the Plan and subject further to the terms and conditions herein set forth, the Company hereby grants the
Grantee 1,044,272 restricted Stock Units (&ldquo;<U>RSUs</U>&rdquo;), subject to the vesting terms set forth in Section 2 below.&nbsp;Subject
to the provisions of this Agreement and the Plan, each vested RSU represents the right to receive one (1) share of Stock. The RSUs shall
apply only with respect to a whole number of shares of Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">2. <B>Vesting. </B>The
RSUs shall vest based on the passage of time (&ldquo;<U>Time RSUs</U>&rdquo;). The Time RSUs shall vest in accordance with the vesting
schedule below. The &ldquo;Vesting Commencement Date&rdquo; shall be October 13, 2020.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 74.25pt; text-indent: -0.25in; background-color: white">(a) <B>Time
RSUs</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 74.25pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in; background-color: white">(i) The Time
RSUs shall vest, subject to the Grantee&rsquo;s continuous employment with the Company (or an Affiliate of the Company) through the applicable
vesting date, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
 <TR STYLE="background-color: rgb(204,238,255)">
 <TD STYLE="vertical-align: bottom; width: 49%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">92,937</FONT></TD>
 <TD STYLE="vertical-align: top; width: 2%">&nbsp;</TD>
 <TD STYLE="vertical-align: bottom; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jul. 12, 2022</FONT></TD></TR>
 <TR STYLE="background-color: White">
 <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">190,267</FONT></TD>
 <TD STYLE="vertical-align: top">&nbsp;</TD>
 <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Oct. 12, 2022</FONT></TD></TR>
 <TR STYLE="background-color: rgb(204,238,255)">
 <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">95,133</FONT></TD>
 <TD STYLE="vertical-align: top">&nbsp;</TD>
 <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jan. 12, 2023</FONT></TD></TR>
 <TR STYLE="background-color: White">
 <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">95,134</FONT></TD>
 <TD STYLE="vertical-align: top">&nbsp;</TD>
 <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Apr. 12, 2023</FONT></TD></TR>
 <TR STYLE="background-color: rgb(204,238,255)">
 <TD STYLE="vertical-align: bottom; text-align: