EXHIBIT 4.1


 


THIS NOTE AND THE SHARES OF COMMON STOCK OF DRIVEITAWAY
HOLDINGS, INC. ISSUABLE UPON CONVERSION HEREOF HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE UNITED STATES SECURITIES AND EXCHANGE
COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER (THE “1933 ACT) AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS
THEY HAVE BEEN REGISTERED UNDER SUCH LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE.


 


15% SECURED CONVERTIBLE NOTE


 


	$XXXXX	New Jersey
	 	November 15, 2022



  


FOR VALUE RECEIVED, DRIVEITAWAY HOLDINGS,
INC., a Delaware corporation with an address of 3401 Market Street, Suite 200/201, Philadelphia,
PA 19104 (the “Company”) promises to pay to the order of XXXXXXXXX with an address of XXXXXXXXXXXXXXX , and successors
and assigns, (the “Holder”), the principal sum of XXXXXXXXXXXXXXXX and No/100ths Dollars ($XXXXX), together with interest
on the unpaid principal balance of this Note at the rate of fifteen percent (15.0%) per annum, which principal and interest shall be payable
as follows:


 


		(a)	the principal balance and all accrued and unpaid interest, late fees, etc. shall be due and payable on
November 15, 2024 (the “Maturity Date”), and



 


		(b)	interest shall be paid monthly in cash on the Note commencing after a 90-day grace period from its issuance,
and,



 


		(c)	at the Maturity Date, interest owed for the initial 90-day period shall be payable in full.



 


All payments on this Note shall be deemed made when
good funds are received by the Holder at the address shown above or at such other place as Holder may designate in writing from time to
time.


 


A failure to timely make any payment due on this Note
or any other default of this Note shall constitute an event of default (an “Event of Default”). From and after an Event
of Default has occurred under this Note, the interest rate of the Note shall be increased by five hundred (500) basis points. Such increased
interest rate shall take effect upon the occurrence of any such Event of Default: (i) without notice to the Company if such default is
on account of a monetary payment obligation under this Note or any other agreement by and between the Company and the Holder dated of
even date herewith; or (ii) upon notice and the expiration of a ten (10) day cure period if the default is on account of any obligation
other than a monetary payment obligation. The Company shall be responsible for curing such default(s) before all respective grace periods
expire and for providing unambiguous written proof to Holder that such default(s) is cured, or such default(s) shall conclusively be deemed
not cured.


 


If any payment owed under this Note shall not have
been paid within five (5) days of the due date thereof, the Company agrees to pay to the Holder a late charge of two percent (2%) of such
payment including the payment due on the Maturity Date or upon acceleration.


 






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The Company shall pay all costs of collection of this
Note, including but not limited to reasonable attorney’s fees: (a) if this Note shall be referred after an Event of Default to an
attorney-at-law for collection or other appropriate action; or (b) if an action to enforce any right to or against collateral securing
this Note shall be instituted after an Event of Default on this Note.


 


This Note is subject to the following additional provisions:


 


		1.	This Note is exchangeable for an equal aggregate principal number of notes of different authorized denominations,
as requested by the Holder surrendering the same. No service charge will be made for such registration or transfer or exchange, except
that Holder shall pay any tax or other governmental charges payable in connection therewith.



 


		2.	The Company shall be entitled to withhold from all payments any amounts required to be withheld under
applicable laws.



 


		3.	This Note may be transferred or exchanged only in compliance with the Securities Act of 1933, as amended
(the “Act”) and applicable state securities laws. Any attempted transfer to a non-qualifying party shall be treated
by the Company as void. Prior to due presentment for transfer of this Note, the Company and any agent of the Company may treat the person
in whose name this Note is duly registered on the Company’s records as the owner hereof for all other purposes, whether or not this
Note be overdue, and neither the Company nor any such agent shall be affected or bound by notice to the contrary. Any Holder of this Note
electing to exercise the right of conversion set forth in Section 4 hereof, in addition to the requirements set forth in Section 4, and
any prospective transferee of this Note, also is required to give the Company written confirmation that this Note is being converted (“Notice
of Conversion”) in the form annexed hereto as Exhibit A. The date of receipt (including receipt by telecopy) of such
Notice of Conversion shall be the Conversion Date.



 


		4.	The Holder of this Note is entitled, at its option, at any time, to convert all or any amount of the principal
face amount of this Note then outstanding, together with accrued and unpaid interest thereon, into shares of the Company’s Common
Stock (the “Common Stock”) at a conversion price of $.20 per share (the “Conversion Price”) for
each share of Common Stock. In connection with each conversion, the Holder shall deliver a Notice of Conversion by fax or other electronic
method of communication to the Company followed by delivery of this Note to the Company postage paid. Such Conversion shall be effectuated
by the Company delivering the shares of Common Stock to the Holder within ten (10) business days of receipt by the Company of the Notice
of Conversion and this Note. Accrued but unpaid interest shall be subject to conversion prior to principal. If less than of all this Note
is being converted at one time, the Company shall issue a new Note in the name in the name of the Holder for the amount of principal not
being converted. No fractional shares or scrip representing fractions of shares will be issued on conversion, but the number of shares
issuable shall be rounded to the nearest whole share. Any reclassification of the outstanding shares of Common Stock shall require the
appropriate adjustment of the Conversion Price to reflect the change in economic value (i.e., 2 for 1 forward stock split shall reduce
the Conversion Price to $0.10 per share).



 


		5.	At any time, the Company shall have the option to redeem this Note and pay to the Holder the then unpaid
principal amount, plus accrued but unpaid interest through the date of such redemption date, plus a ten percent (10%) premium. The Company
shall give the Holder thirty (30) days’ written notice and the Holder during such thirty-day period shall have the option to convert
this Note or any part thereof into shares of Common Stock at the Conversion Price.



 


		6.	Upon (a) a transfer of all or substantially all of the assets of the Company to any person in a single
transaction or series of related transactions, (b) any consolidation or merger of the Company with or into another person or entity in
which the Company is not the surviving entity (other than a merger which is effected solely to change the jurisdiction of incorporation
of the Company and results in a reclassification, Conversion or exchange of outstanding shares of Common Stock solely into shares of Common
Stock) (each of items (a) and (b) being referred to as a “Sale Event”), then, in each case, the Company shall, upon request
of the Holder, redeem this Note in cash for its then unpaid principal amount, plus accrued but unpaid interest through the date of redemption,
or at the election of the Holder, such Holder may convert the unpaid principal amount of this Note (together with the amount of accrued
but unpaid interest) into shares of Common Stock immediately prior to such Sale Event at the Conversion Price.



 



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		7.	In case of any Sale Event in connection with which this Note is not redeemed or converted, the Company
shall cause effective provision to be made so that the Holder of this Note shall have the right thereafter, by converting this Note, to
purchase or convert this Note into the kind and number of shares of stock or other securities or property (including cash) receivable
upon such reclassification, capital reorganization or other change, consolidation or merger by a holder of the number of shares of Common
Stock that could have been purchased upon exercise of the Note and at the Conversion Price. The foregoing provisions shall similarly apply
to successive Sale Events. If the consideration received by the holders of Common Stock is other than cash, the value shall be as determined
by the Board of Directors of the Company or successor person or entity acting in good faith.



 


		8.	The repayment of this Note shall be secured by the collateral described in the Security Agreement entered
into by the Company for the benefit of the Holder as of the date of this Note (the “Security Agreement”). The Security Agreement
shall set forth the terms and conditions upon which a default hereunder shall entitle the Holder to seek additional remedies upon certain
collateral of the Company’s subsidiary.



 


Each party who is, or may become, liable on this Note
in any capacity, hereby waives presentment, demand, notice of dishonor and protest, notice of extensions, modifications or alterations
of the date or terms of payment hereof, and all surety defenses in the nature thereof and further consents to all extensions or modifications
of the due date and terms of payment of this Note. No delay or omission on the part of the Holder shall operate as a waiver of such right
or of any other right of such party, nor shall any delay, omission or waiver on any one occasion be deemed a bar to or a waiver of the
same or any other right on any future occasion.


 


Notwithstanding anything herein to the contrary, the
total interest charged on the principal amount owing hereunder from time to time shall not exceed the maximum amount allowed by law, and
the Company shall not be bound or obligated to pay any interest hereunder in excess of such amount. If and to the extent the interest
on this Note or any other payment required hereunder would exceed the maximum interest allowed by law, then to such extent, the excess
interest payment(s) shall be deemed a partial prepayment of principal.


 


The Holder shall have the absolute right to sell and/or
assign this Note, in whole or in part, and/or to enter into one or more participation agreements concerning this Note. If Holder gives
written notice of any such sale(s), assignment(s) and/or participation(s) to the Company, they shall make payments to such subsequent
holder(s) or participant(s), as the case may be.


 


Wherever the context shall so require, the singular
and plural shall mean each other and the masculine, feminine and neutral genders shall mean each other. This Note shall be governed by
the laws of the State of New Jersey.


 


THE COMPANY ACKNOWLEDGES THAT THE TRANSACTION OF
WHICH THIS NOTE IS A PART IS A COMMERCIAL TRANSACTION, AND HEREBY VOLUNTARILY AND KNOWINGLY WAIVES ITS RIGHT TO NOTICE AND HEARING AS
ALLOWED BY LAW OR ANY STATE OR FEDERAL LAW WITH RESPECT TO ANY PREJUDGMENT REMEDY WHICH THE HOLDER MAY DESIRE TO USE. FURTHER, THE COMPANY
HEREBY WAIVES, TO THE EXTENT PERMITTED BY LAW, THE BENEFITS OF ALL VALUATION, APPRAISEMENT, HOMESTEAD EXEMPTION, STAY, REDEMPTION AND
MORATORIUM LAWS, NOW IN FORCE OR WHICH MAY HEREAFTER BECOME LAW. THE COMPANY HEREBY WAIVES, TO THE EXTENT PERMITTED BY LAW, THE BENEFITS
OF TRIAL BY JURY, NOW IN FORCE OR WHICH MAY HEREAFTER BECOME LAW.


 






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IN WITNESS WHEREOF, the
Company has executed this Secured Convertible Promissory Note on the date written above.


 


	 	DRIVEITAWAY HOLDINGS, INC.
	 	 
	 	By:	 
	 	 	John F. Possumato
	 	 	Chief Executive Officer



 



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NOTICE OF CONVERSION


 


The undersigned hereby elects to
convert the principal amount set forth below (together with any accrued and unpaid interest thereon) of the 15% Secured Convertible Notes
due 2024 (“Notes”) of DriveItAway Holdings, Inc., a Delaware corporation (the “Company”), into Common
Stock of the Company at the applicable conversion price, as of the date written below. If Common Stock is to be issued in the name of
a person other than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto and is delivering herewith
such certificates and opinions as reasonably requested by the Company in accordance therewith. No fee will be charged to the holder for
any conversion, except for such transfer taxes, if any.


  


Principal Amount of Note to be Converted: $____________.


  


Name (must match name of registered owner of the Notes
being converted):


 __________________________________


 


Name (if different from above) and Address for Delivery
of Common Stock:


 


Signature: __________________________


  


Date: _________________


 


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