Document:

Exhibit 10.2

 

Hyrecar Inc

555 W. 5th Street

Los Angeles, CA 90013

 

September 12, 2016

 

Michael Furnari

 

Dear Mr. Furnari:

 

Hyrecar
Inc, a Delaware corporation (the “Company”), is pleased to offer you employment as its Secretary and Director of Sales,
reporting to the Company’s Board of Directors (“Board”). This is an offer of at will employment and is subject
to the terms and conditions set forth in this letter agreement (this “Letter Agreement”) and may be terminated by the
Company at any time, for any reason, with or without cause.

 

1. Position.
Your title will be Secretary and Director of Sales. This is a full-time position. While you are an employee of the Company,
you will not engage in any other employment, consulting or other business activity (whether full-time or part-time) or serve as
a director on the board of any other company (“External Activities”) in each case which (a) would create a conflict
of interest with the Company, or (b) is not approved by the Board in a written acknowledgment. By signing this Letter Agreement,
you confirm to the Company that you currently have no such External Activities and that you have no contractual commitments or
other legal obligations that would prohibit you from performing or would materially limit your capability to perform your duties
for the Company.

 

2. Cash
Compensation. The Company will pay you a base salary at the annual rate of $48,000, payable in accordance with the Company’s
standard payroll schedule. In addition, subject to the discretion of the Board, you will be considered for an annual incentive
bonus, typically for each fiscal year of the Company.

 

3. Employee
Benefits. As a regular employee of the Company, you will be eligible to participate in Company-sponsored benefits, as in effect
from time to time. In addition, you will be entitled to paid vacation in accordance with the Company’s vacation policy, as
in effect from time to time.

 

4. Restricted
Stock Award. Subject to the approval of the Board, you will be issued 900,000 restricted shares (the
“Shares”) of the Company’s common stock, par value $0.00001 per share (the “Award”) under the
Company’s 2016 Equity Incentive Plan (the “Plan”). The Award will be subject to the terms and conditions of
the Plan, as set forth in the Plan and the applicable Restricted Stock Award Agreement. The Shares of restricted stock shall
initially be unvested and forfeitable. The Shares shall vest, the restrictions thereon shall lapse and such Shares shall
become nonforfeitable according to the following schedule, subject to your continuous service with the Company through and
including the applicable vesting date: (i) 33% of the Shares shall vest on the consummation of a sale of securities for
aggregate gross proceeds of at least $250,000 in one or more transactions and (ii) the remaining 67% of the Shares shall vest
in 36 successive equal monthly installments commencing on May 1, 2016 and vesting in full on April 30, 2019.

 

     

     

    

 

Michael Furnari

At Will Employment Offer Letter

Page | 2

 

5. Nondisclosure
of Confidential Information. You shall not, without the prior written consent of the Board, use, divulge, disclose or make
accessible to any other person, any Confidential Information pertaining to the business or affairs of the Company, except (i) while
employed by the Company, in the business of and for the benefit of the Company, or (ii) when required to do so by a court of competent
jurisdiction, by any governmental agency having supervisory authority over the business of the Company, or by any administrative
body or legislative body with jurisdiction to order you to divulge, disclose or make accessible such information.

 

For purposes hereof, “Confidential
Information” shall mean non-public information concerning financial data, strategic business plans, sales or marketing plans,
or other proprietary marketing data, proprietary information, contracts or agreements with customers, vendors or consultants, and
all other non-public, proprietary and confidential information of the Company that in any case is not otherwise available to the
public (other than by your breach of the terms hereof).

 

 6. Restrictive Covenants.

 

6.1 Non-Solicitation.

 

a) In
consideration of your employment with the Company, participation in any stock, bonus or other incentive compensation plans of the
Company, which you acknowledge is of direct benefit to you, you hereby covenant that, during the period commencing on the date
hereof and ending on the two

 

 (2) year anniversary of your termination (the “Restricted Period”), you and your Affiliates (as defined herein) shall not directly or indirectly, through any other person:

 

(i) (1) employ, solicit or induce any
individual who is, or was at any time during the one (1) year period prior to your termination, an employee or consultant of
the Company, (2) cause such individual to terminate or refrain from renewing or extending his or her employment by or
consulting relationship with the Company, or (3) cause such individual to become employed by or enter into a consulting
relationship with the Company and its Affiliates or any other individual, person or entity; or

 

(ii) solicit,
persuade or induce any Customer to terminate, reduce or refrain from renewing or extending its contractual or other relationship
with the Company in regard to the purchase of products or services, performed, manufactured, marketed or sold by the Company or
any other person in regard to the purchase of products or services similar or identical to those performed, manufactured, marketed
or sold, by the Company. For purposes hereof, “Customer” means any individual, person or entity which is a customer
of the Company or which was a customer of the Company within one (1) year prior to the termination of employment hereunder.

 

(iii) whether
as owner, consultant, executive, partner, member, manager, officer, director, venturer, agent, through stock ownership, investment
of capital, lending of money or property, rendering of services, or otherwise, engage or assist others to engage in the business
of ride sharing in the Territory;

 

     

     

    

 

Michael Furnari

At Will Employment Offer Letter

Page | 3

 

provided, that you may own up
to three (3%) percent of the outstanding shares of a company engaged in such business if such shares are listed on national securities
exchange.

 

6.2 Non-Disparagement.
You agree that neither you nor any of your Affiliates shall (i) in any way publicly disparage the Company, its equity holders,
officers, directors, employees, agents or Affiliates,

 

(ii) cause embarrassment or
public humiliation to such persons or (iii) make any public statement that is adverse, inimical or otherwise detrimental to the
interests of any such persons or the Company’s business at any time, including without limitation, during periods after the
termination of this Agreement.

 

6.3 Certain
Definitions. The following terms shall have the following meanings when used in this Agreement:

 

a) “Affiliate”
means, as to any person, a person that directly or indirectly through one or more intermediaries, controls or is controlled by,
or is under common control with, the person specified. With respect to any natural person, the term Affiliate shall also include
any member of said person’s immediate family, any family limited partnership or similar entity for said person and any trust,
voting or otherwise, of which said person is a trustee or of which said person or any of said person’s immediate family is
a beneficiary. With respect to any trust, the term Affiliate shall also include any beneficiary or trustee of such trust. For purposes
of the foregoing, the term “control” and variations thereof means the possession of the power to direct or cause the
direction of the management or policies of a person, whether through the ownership of voting securities, by contract or otherwise.

 

 b) “Territory” means the United States.

 

 7. Tax Matters.

 

7.1 Withholding.
All forms of compensation referred to in this Letter Agreement are subject to reduction to reflect applicable withholding and payroll
taxes and other deductions required by law.

 

7.2 Tax
Advice. You are encouraged to obtain your own tax advice regarding your compensation from the Company. You agree that the Company
does not have a duty to design its compensation policies in a manner that minimizes your tax liabilities, and you will not make
any claim against the Company or its Board related to tax liabilities arising from your compensation.

 

8. Interpretation, Amendment and
Enforcement. This Letter Agreement supersedes and replaces any prior agreements, representations or understandings
(whether written, oral, implied or otherwise) between you and the Company and constitutes the entire agreement between you
and the Company regarding the subject matter set forth herein. This Letter Agreement may not be amended or modified, except
by an express written agreement signed by both you and a duly authorized officer of the Company. The terms of this Letter
Agreement and the resolution of any disputes as to the meaning, effect, performance or validity of this Letter Agreement or
arising out of, related to, or in any way connected with, this Letter Agreement, your employment with the Company or any
other relationship between you and the Company (the “Disputes”) will be governed by California law,
excluding laws relatingto conflicts or choice of law. You and the Company submit to the exclusive personal jurisdiction of
the federal and state courts located in Los Angeles County, California, in connection with any Dispute or any claim related
to any Dispute. You acknowledge and agree that if any term or provision of this Agreement is deemed invalid or unenforceable
by a court of competent jurisdiction, the remainder of this Agreement shall continue in full force and effect.

 

     

     

    

 

Michael Furnari

At Will Employment Offer Letter

Page | 4

 

Please contact me if you have any questions or concerns.

 

Sincerely,

 

HYRECAR INC

 

	/s/ Abhishek Arora	 
	Abhishek Arora, Chief Operating Officer	 

 

I have read and understood, and hereby accept this
employment offer:

 

	/s/ Michael Furnari	 
	Name: Michael FurnariExhibit 10.3

 

Oral Employment Arrangement
between the Company and Abhishek Arora

 

The company has an oral agreement with Mr.
Abhishek Arora pursuant to which he receives an annual salary of $96,000 for his services as Chief Technology Officer. During the
year ended December 31, 2017, Mr. Arora deferred $12,000 of his salary. As a result, Mr. Arora received cash compensation equal
to $84,000 during the year ended December 31, 2017. Subject to the discretion of the board, Mr. Arora will be considered for an
annual incentive bonus. Mr. Arora is an at-will employee of the company.

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