Document:

EXHIBIT 4.2

 

NEITHER
THIS SECURITY NOR THE SECURITIES AS TO WHICH THIS SECURITY MAY BE EXERCISED HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION
OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR
TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THIS SECURITY AND THE SECURITIES ISSUABLE UPON
EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

COMMON
STOCK PURCHASE WARRANT

 

DRIVEITAWAY
HOLDINGS, INC.

 

Warrant
Shares: XXXXX

 

Date
of Issuance: June 30, 2022 (“Issuance Date”)

 

This COMMON STOCK PURCHASE
WARRANT (the “Warrant”) certifies that, for value received (in connection with the issuance of the secured promissory
note to the Holder (as defined below) of even date) (the “Note”), XXXXXXX (including any permitted and registered 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 the date of issuance hereof, to purchase from DriveItAway Holdings, Inc., a Delaware corporation (the
“Company”), up to XXXX shares of Common Stock (as defined below) (the “Warrant Shares”) (whereby
such number may be adjusted from time to time pursuant to the terms and conditions of this Warrant) at the Exercise Price per share then
in effect. This Warrant is issued by the Company as of the date hereof in connection with that certain subscription agreement dated May
16, 2022, by and among the Company and the Holder (the “Purchase Agreement”).

 

Capitalized
terms used in this Warrant shall have the meanings set forth in the Purchase Agreement unless otherwise defined in the body of this Warrant
or in Section 12 below. For purposes of this Warrant, the term “Exercise Price” shall mean $0.30, subject to adjustment
as provided herein, and the term “Exercise Period” shall mean the period commencing on the Issuance Date and ending
on 5:00 p.m. eastern standard time on the five-year anniversary thereof.

 

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		1.	EXERCISE
                                            OF WARRANT.

 

(a)       Mechanics
of Exercise. Subject to the terms and conditions hereof, the rights represented
by this Warrant may be exercised in whole or in part at any time or times during the Exercise Period by delivery of a written
notice, in the form attached hereto as Exhibit A (the “Exercise Notice”), of the Holder’s election
to exercise this Warrant. The Holder shall not be required to deliver the original Warrant in order to effect an exercise
hereunder. 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. On or before the second Trading Day (the “Warrant Share Delivery
Date”) following the date on which the Holder sent the Exercise Notice to the Company or the Company’s transfer
agent, and upon receipt by the Company of payment to the Company of an amount equal to the applicable Exercise Price multiplied by
the number of Warrant Shares as to which all or a portion of this Warrant is being exercised (the “Aggregate Exercise
Price” and together with the Exercise Notice, the “Exercise Delivery Documents”) in cash or by wire
transfer of immediately available funds, the Company shall (or direct its transfer agent to) issue and dispatch by overnight courier
to the address as specified in the Exercise Notice, a certificate, registered in the Company’s share register in the name of
the Holder or its designee, for the number of shares of Common Stock to which the Holder is entitled pursuant to such exercise (or
deliver such shares of Common Stock in electronic format if requested by the Holder). Upon delivery of the Exercise Delivery
Documents, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with
respect to which this Warrant has been exercised, irrespective of the date of delivery of the certificates evidencing such Warrant
Shares. If this Warrant is submitted in connection with any exercise and the number of Warrant Shares represented by this Warrant is
greater than the number of Warrant Shares being acquired upon an exercise, then the Company shall as soon as practicable and in no
event later than three Business Days after any exercise and at its own expense, issue a new Warrant (in accordance with Section 6)
representing the right to purchase the number of Warrant Shares purchasable immediately prior to such exercise under this Warrant,
less the number of Warrant Shares with respect to which this Warrant is exercised.

 

If
the Company fails to cause its transfer agent to transmit to the Holder the respective shares of Common Stock by the respective Warrant
Share Delivery Date, then the Holder will have the right to rescind such exercise in Holder’s sole discretion, and such failure
shall be deemed an event of default under the Note.

 

(b)       No
Fractional Shares. No fractional shares shall be issued upon the exercise of this Warrant as a consequence of any adjustment pursuant
hereto. All Warrant Shares (including fractions) issuable upon exercise of this Warrant may be aggregated for purposes of determining
whether the exercise would result in the issuance of any fractional share. If, after aggregation, the exercise would result in the issuance
of a fractional share, the number of shares issuable shall be rounded up, as the case may be, to the nearest whole share.

 

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(c)       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, to the extent that after giving effect to issuance of Warrant Shares upon 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
pursuant to a pending Exercise Notice 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,
non-exercised portion of this Warrant beneficially owned by the Holder or any of its Affiliates and (ii) exercise or conversion of
the unexercised or non-converted 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 paragraph (c), beneficial
ownership shall be calculated in accordance with Section 13(d) of the Exchange Act, 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 paragraph 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.

 

For
purposes of this paragraph, 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 its transfer
agent setting forth the number of shares of Common Stock outstanding. Upon the request of a Holder, the Company shall within two Trading
Days confirm 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 4.99% 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 limitations contained in this paragraph shall apply
to a successor Holder of this Warrant.

 

(d)       Registration
of Common Stock. The shares issuable upon exercise of this Warrant shall be included in the next succeeding registration statement
filed by the Company with the securities exchange commission after the Issuance Date, other than a registration statement filed on Form
S-8 or Form S-4. If no such registration statement is filed or if the Company fails to include such shares in such registration statement,
then no later than the date that is six months from the Issuance Date the Company shall file a registration statement with the Securities
and Exchange Commission including all shares issuable upon exercise of this Warrant, and cause it to be declared effective.

 

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2.             ADJUSTMENTS.
The Exercise Price and the number of Warrant Shares shall be adjusted from time to time as follows:

 

(a)       Distribution
of Assets. If the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets)
to holders of shares of Common Stock, by way of return of capital or otherwise (including without limitation any distribution of cash,
stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement or other similar
transaction) (a “Distribution”), at any time after the issuance of this Warrant, then, in each such case:

 

(i)       any
Exercise Price in effect immediately prior to the close of business on the record date fixed for the determination of holders of shares
of Common Stock entitled to receive the Distribution shall be reduced, effective as of the close of business on such record date, to
a price determined by multiplying such Exercise Price by a fraction (i) the numerator of which shall be the Closing Sale Price of the
shares of Common Stock on the Trading Day immediately preceding such record date minus the value of the Distribution (as determined in
good faith by the Company’s Board of Directors) applicable to one share of Common Stock, and (ii) the denominator of which shall
be the Closing Sale Price of the shares of Common Stock on the Trading Day immediately preceding such record date; and

 

(ii)       the
number of Warrant Shares shall be increased to a number of shares equal to the number of shares of Common Stock obtainable immediately
prior to the close of business on the record date fixed for the determination of holders of shares of Common Stock entitled to receive
the Distribution multiplied by the reciprocal of the fraction set forth in the immediately preceding clause (i); provided, however, that
in the event that the Distribution is of shares of common stock of a company (other than the Company) whose common stock is traded on
a national securities exchange or a national automated quotation system (“Other Shares of Common Stock”), then the
Holder may elect to receive a warrant to purchase Other Shares of Common Stock in lieu of an increase in the
number of Warrant Shares, the terms of which shall be identical to those of this Warrant, except that such warrant shall be exercisable
into the number of shares of Other Shares of Common Stock that would have been payable to the Holder pursuant to the Distribution had
the Holder exercised this Warrant immediately prior to such record date and with an aggregate exercise price equal to the product of
the amount by which the exercise price of this Warrant was decreased with respect to the Distribution pursuant to the terms of the immediately
preceding clause (i) and the number of Warrant Shares calculated in accordance with the first part of this clause (ii).

 

(b)       Anti-Dilution
Adjustments to Exercise Price. If and whenever, at any time while this Warrant is outstanding, the Company issues or sells, or in
accordance with this Section 2 is deemed to have issued or sold, any warrant or option to purchase Common Stock and/or Common Stock Equivalents
(including shares of Common Stock owned or held by or for the account of the Company), but excluding any securities issued or sold or
deemed to have been issued or sold solely in connection with an Exempt Issuance, with a purchase price per share (the “New Issuance
Price”) less than the Exercise Price in effect immediately prior to such issuance or sale or deemed issuance or sale, then
immediately after such issuance or sale or deemed issuance or sale, the Exercise Price then in effect shall be reduced to an amount equal
to the New Issuance Price (subject to adjustment as provided herein).

 

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Notwithstanding
the forgoing Section 2(b), in the event that the Company successfully lists shares of its common stock on a senior national securities
exchange, including but not limited to the Nasdaq Stock Market and/or New York Stock Exchange, the exercise price of this Warrant shall
no longer be subject to the anti-dilution adjustment provisions provided in Section 2(b) of this Warrant.

 

(c)       Subdivision
or Combination of Common Stock. If the Company at any time on or after the Issuance Date subdivides (by any stock split, stock dividend,
recapitalization or otherwise) one or more classes of its outstanding shares of Common Stock into a greater number of shares, the Exercise
Price in effect immediately prior to such subdivision will be proportionately reduced and the number of Warrant Shares will be proportionately
increased. If the Company at any time on or after the Issuance Date combines (by combination, reverse stock split or otherwise) one or
more classes of its outstanding shares of Common Stock into a smaller number of shares, the Exercise Price in effect immediately prior
to such combination will be proportionately increased and the number of Warrant Shares will be proportionately decreased. Any adjustment
under this Section 2(c) shall become effective at the close of business on the date the subdivision or combination becomes effective.
Each such adjustment of the Exercise Price shall be calculated to the nearest one-hundredth of a cent. Such adjustment shall be made
successively whenever any event covered by this Section 2(c) shall occur.

 

3.             FUNDAMENTAL
TRANSACTIONS. If, at any time while this Warrant is outstanding, (i) the Company effects any merger of the Company with or into another
entity and the Company is not the surviving entity (such surviving entity, the “Successor Entity”), (ii) the Company
effects any sale of all or substantially all of its assets in one or a series of related transactions, (iii) any tender offer or exchange
offer (whether by the Company or by another individual or entity, and approved by the Company) is completed pursuant to which holders
of Common Stock are permitted to tender or exchange their shares of Common Stock for other securities, cash or property and the holders
of at least 50% of the Common Stock accept such offer, or (iv) the Company effects any reclassification 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 (other
than as a result of a subdivision or combination of shares of Common Stock governed by Section 2(c) herein) (in any such case, a “Fundamental
Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive the number of
shares of Common Stock of the Successor Entity or of the Company and any additional consideration (the “Alternate Consideration”)
receivable upon or as a result of such reorganization, reclassification, merger, consolidation or disposition of assets by a holder of
the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such event (disregarding any limitation
on exercise contained herein solely for the purpose of such determination). 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. To the extent necessary to effectuate the foregoing provisions, any Successor
Entity in such Fundamental Transaction shall issue to the Holder a new warrant consistent with the foregoing provisions and evidencing
the Holder’s right to exercise such warrant into Alternate Consideration.

 

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4.             NON-CIRCUMVENTION.
The Company covenants and agrees that it will not, by amendment of its certificate of incorporation, bylaws or through any reorganization,
transfer of assets, consolidation, merger, scheme of arrangement, 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, and will at all times in good faith carry out
all the provisions of this Warrant and take all action as may be required to protect the rights of the Holder. Without limiting the generality
of the foregoing, the Company (i) shall not increase the par value of any shares of Common Stock receivable upon the exercise of this
Warrant above the Exercise Price then in effect, (ii) shall take all such actions as may be necessary or appropriate in order that the
Company may validly and legally issue fully paid and non-assessable shares of Common Stock upon the exercise of this Warrant, and (iii)
shall, for so long as this Warrant is outstanding, have authorized and reserved, free from preemptive rights, five times the number of
shares of Common Stock that is actually issuable upon full exercise of the Warrant (based on the Exercise Price in effect from time to
time, and without regard to any limitations on exercise).

 

5.             WARRANT
HOLDER NOT DEEMED A STOCKHOLDER. Except as otherwise specifically provided herein, this Warrant, in and of itself, shall not entitle
the Holder to any voting rights or other rights as a stockholder of the Company. In addition, nothing contained in this Warrant shall
be construed as imposing any liabilities on the Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as
a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company.

 

6.             
REISSUANCE.

 

(a)       Lost,
Stolen or Mutilated Warrant. If this Warrant is lost, stolen, mutilated or destroyed, the Company will, on such terms as to indemnity
or otherwise as it may reasonably impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new
Warrant of like denomination and tenor as this Warrant so lost, stolen, mutilated or destroyed.

 

(b)       Issuance
of New Warrants. Whenever the Company is required to issue a new Warrant pursuant to the terms of this Warrant, suc h new Warrant
shall be of like tenor with this Warrant, and shall have an issuance date, as indicated on the face of such new Warrant which is the
same as the Issuance Date.

 

7.            
TRANSFER.

 

(a)       Assignment
Generally. This Warrant shall be binding upon the Company and its successors and assigns, and shall inure to be the benefit of
the Holder and its successors and assigns. Notwithstanding anything to the contrary herein, the rights, interests or obligations of
the Company hereunder may not be assigned, by operation of law or otherwise, in whole or in part, by the Company without the prior
signed written consent of the Holder, which consent may be withheld at the sole discretion of the Holder (any such assignment or
transfer shall be null and void if the Company does not obtain the prior signed written consent of the Holder). This Warrant or any
of the severable rights and obligations inuring to the benefit of or to be performed by Holder hereunder may be assigned by Holder
to a third party, in whole or in part, without the need to obtain the Company’s consent thereto.

 

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(b)       No
Transfer Except on Compliance with the Law. The Holder of this Warrant and any transferee hereof or of the Common Stock with respect
to which this Warrant may be exercisable, by his or her acceptance hereof, hereby understands and agrees that this Warrant and the Common
Stock with respect to which this Warrant may be exercisable have not been registered under the Securities Act, and may not be sold, pledged,
hypothecated, donated, or otherwise transferred (whether or not for consideration) without an effective registration statement under
the Act or an available exemption from such registration. It shall be a condition to the transfer of this Warrant that any transferee
thereof deliver to the Company its written agreement to accept and be bound by all of the terms and conditions of this Warrant. The foregoing
notwithstanding, the Company acknowledges its obligations to register the Common Stock which is issuable upon exercise of this Warrant
pursuant to Section 1(d) hereof.

 

(c)       Legend
on Shares issued upon Exercise. Except to the extent the resale of the shares of Common Stock issuable upon exercise hereof are registered
for resale, or may be sold to the public pursuant to Rule 144 under the Securities Act, the certificates of the Company that will evidence
the shares of Common Stock with respect to which this Warrant may be exercisable will be imprinted with a conspicuous legend in substantially
the following form:

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
AND MAY NOT BE SOLD, PLEDGED, HYPOTHECATED, DONATED OR OTHERWISE TRANSFERRED (WHETHER OR NOT FOR CONSIDERATION) BY THE HOLDER WITHOUT
AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY AND/OR SUBMISSION TO THE COMPANY
OF SUCH OTHER EVIDENCE AS MAY BE SATISFACTORY TO COUNSEL TO THE COMPANY, IN EACH SUCH CASE, TO THE EFFECT THAT ANY SUCH TRANSFER SHALL
NOT BE IN VIOLATION OF THE ACT.”

 

8.             NOTICES.
Whenever notice is required to be given under this Warrant, unless otherwise provided herein, such notice shall be given in accordance
with the notice provisions contained in the Purchase Agreement. The Company shall provide the Holder with prompt written notice (i) immediately
upon any adjustment of the Exercise Price, setting forth in reasonable detail, the calculation of such adjustment and (ii) at least ten
days prior to the date on which the Company closes its books or takes a record (A) with respect to any dividend or distribution upon
the shares of Common Stock, (B) with respect to any grants, issuances or sales of any stock or other securities directly or indirectly
convertible into or exercisable or exchangeable for shares of Common Stock or other property, pro rata to the holders of shares of Common
Stock, or (C) for determining rights to vote with respect to any Fundamental Transaction, dissolution or liquidation, provided in each
case that such information shall be made known to the public prior to or in conjunction with such notice being provided to the Holder.

 

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9.             AMENDMENT
AND WAIVER. The terms of this Warrant may be amended or waived (either generally or in a particular instance and either retroactively
or prospectively) only with the written consent of the Company and the Holder.

 

10.           GOVERNING
LAW AND VENUE. This Warrant shall be governed by and construed in accordance with the laws of the State of Delaware without regard
to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated by
this Warrant shall be brought only in the state courts located in the State of New Jersey or in the federal courts located in the State
of New Jersey. The parties to this Warrant hereby irrevocably waive any objection to jurisdiction
and venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum
non conveniens. THE HOLDER HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE
ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS WARRANT OR ANY TRANSACTION CONTEMPLATED HEREBY.
The prevailing party shall be entitled to recover from the other party its reasonable attorney’s fees and costs. In the event that
any provision of this Warrant or any other agreement delivered in connection herewith is invalid or unenforceable under any applicable
statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed
modified to conform with such statute or rule of law. Any such provision which may prove invalid or unenforceable under any law shall
not affect the validity or enforceability of any other provision of any agreement. Each party hereby irrevocably waives personal service
of process and consents to process being served in any suit, action or proceeding in connection with this Agreement or any other Transaction
Document by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at
the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service
of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner
permitted by law.

 

11.           ACCEPTANCE.
Receipt of this Warrant by the Holder shall constitute acceptance of and agreement to all of the terms and conditions contained herein.

 

12.           CERTAIN
DEFINITIONS. For purposes of this Warrant, the following terms shall have the following meanings:

 

(a)
      “Nasdaq” means www.Nasdaq.com.

 

(b)       “Closing
Sale Price” means, for any security as of any date, (i) the last closing trade price for such security on the Principal Market,
as reported by Nasdaq, or, if the Principal Market begins to operate on an extended hours basis and does not designate the closing trade
price, then the last trade price of such security prior to 4:00 p.m., New York time, as reported by Nasdaq, or (ii) if the foregoing
does not apply, the last trade price of such security in the over- the-counter market for such security as reported by Nasdaq, or (iii)
if no last trade price is reported for such security by Nasdaq, the average of the bid and ask prices of any market makers for such security
as reported by the OTC Markets. If the Closing Sale Price cannot be calculated for a security on a particular date on any of the foregoing
bases, the Closing Sale Price of such security on such date shall be the fair market value as mutually determined by the Company and
the Holder.

 

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All
such determinations to be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction
during the applicable calculation period.

 

(c)       “Common
Stock” means the Company’s common stock, and any other class of securities into which such securities may hereafter be
reclassified or changed.

 

(d)       “Common
Stock Equivalents” means any securities of the Company that would entitle the holder thereof to acquire at any time Common
Stock, including without limitation any debt, preferred stock, rights, options, warrants or other instrument that is at any time convertible
into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

 

(e)       “Exempt
Issuance” means (i) issuances of securities in a firm commitment underwritten public offering (excluding a continuous offering
pursuant to Rule 415 under the 1933 Act), (ii) issuances to employees, officers, directors, contractors, consultants or other advisors
approved by the Board, whether pursuant to a plan or on a case-by-case basis, (iii) issuances to strategic partners or other parties
in connection with a commercial relationship, or providing the Company with equipment leases, real property leases or similar transactions
approved by the Board, (iv) issuances of securities as consideration for a merger, consolidation or purchase of assets, or in connection
with any strategic partnership or joint venture (the primary purpose of which is not to raise equity capital), or in connection with
the disposition or acquisition of a business, product or license by the Company, or (v) shares of Common Stock issued pursuant to the
Company’s current private placement offering of 7,000,000 Units for $0.20 per Unit, each of which consists of one share of common
stock and one warrant to purchase one share of common stock for $0.40 per share.

 

(f)       “Principal
Market” means the primary exchange or quotation system on which the Common Stock is then traded.

 

(g)       “Trading
Day” means (i) any day on which the Common Stock is listed or quoted and traded on its Principal Market, (ii) if the Common
Stock is not then listed or quoted and traded on any national securities exchange, then a day on which trading occurs on any over- the-counter
markets, or (iii) if trading does not occur on the over-the-counter markets, any Business Day.

 

*
* * * * * *

 

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IN
WITNESS WHEREOF, the Company has caused this Warrant to be duly executed as of the Issuance Date set forth above.

 

	 	DRIVEITAWAY
HOLDINGS, INC.
	 	 
	 	By:	 
	 	 	John
F. Possumato, CEO

  

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EXHIBIT
A

 

EXERCISE
NOTICE

 

(To
be executed by the registered holder to exercise this Common Stock Purchase Warrant)

 

THE
UNDERSIGNED holder hereby exercises the right to purchase XXXXX of the shares of Common Stock (“Warrant Shares”) of DriveItAway
Holdings, Inc., a Delaware corporation (the “Company”), evidenced by the attached copy of the Common Stock Purchase
Warrant (the “Warrant”). Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth
in the Warrant.

 

		1.	Form
of Exercise Price. The Holder intends that payment of the Exercise Price shall be made with respect to __________________________Warrant Shares.

 

		2.	Payment
of Exercise Price. The holder shall pay the applicable Aggregate Exercise Price in the sum of $__________________________to the Company in accordance with
the terms of the Warrant.

 

		3.	Delivery
of Warrant Shares. The Company shall deliver to the holder____________________________Warrant Shares in accordance with the terms of the Warrant.

  

	Date:	 	 

 

	 	 
	 	(Print Name of Registered Holder)
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

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EXHIBIT
B

 

ASSIGNMENT
OF WARRANT

 

(To
be signed only upon authorized transfer of the Warrant)

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns, and transfers unto ________________ the
right to purchase _____________ shares of common stock of DriveItAway Holdings, Inc. to
which the within Common Stock Purchase Warrant relates and appoints __________________, as attorney-in-fact, to
transfer said right on the books of DriveItaway Holdings, Inc. with full power of substitution and re-substitution in the premises.
By accepting such transfer, the transferee has agreed to be bound in all respects by the terms and conditions of the within
Warrant.

 

	Dated:	 	 	 
	 	 	 
	 	 	 
	 	 	(Signature) *
	 	 	 
	 	 	 
	 	 	(Name)
	 	 	 
	 	 	 
	 	 	(Address)
	 	 	 
	 	 	 
	 	 	(Social Security or Tax Identification No.)

 

*
The signature on this Assignment of Warrant must correspond to the name as written upon the face of the Common Stock Purchase Warrant
in every particular without alteration or enlargement or any change whatsoever. When signing on behalf of a corporation, partnership,
trust or other entity, please indicate your position(s) and title(s) with such entity.

 

12EXHIBIT
10.1 

 

SUBSCRIPTION
AGREEMENT

 

To:DRIVEITAWAY
HOLDINGS, INC.

 

RE:15%
SECURED CONVERTIBLE NOTES WITH WARRANTS

 

Dated:
May 16, 2022

 

Gentlemen:

 

		1.	Subscription.

 

The
undersigned (the “Purchaser”), intending to be legally bound, hereby irrevocably agrees to purchase from DriveItAway
Holdings, Inc., a Delaware Corporation (the “Company”), the number of Units, set forth on the Signature Page
at the end of this Subscription Agreement (the “Agreement”) at a purchase price of $50,000 per Unit with each Unit consisting
of a Twenty-four month 15% Secured Convertible Note (“Note”) which is convertible at $.20 per share into shares of the Company
Common Stock and a warrant exercisable for 25,000 shares of the Company’s Common Stock at an exercise price of $.30 per share (
collectively, the “Shares”), upon the terms and conditions hereinafter set forth (the “Offering”). This subscription
is submitted to the Company accordance with and subject to the terms and conditions described in this Agreement and in the Term Sheet
attached hereto as Exhibit B.

 

The
undersigned is delivering (i) the subscription payment by check made payable to Patrizio & O’Leary LLP Attorney Escrow Account
or by wire using the instructions attached hereto as Exhibit C and (ii) one executed copy of this Agreement, to:

 

Paul
Patrizio, Esq.

Patrizio
& O’Leary LLP

300
Carnegie Center, Suite 150

Princeton,
NJ 08540

ppatrizio@po-legal.com

 

The
undersigned understands that the Units are being issued pursuant to the exemption from the registration requirements of the United States
Securities Act of 1933, as amended (the “Securities Act”), provided by Regulation D Rule 506 of such Securities Act.
As such, the Units are only being offered and sold to investors who qualify as “accredited investors,” and the Company is
relying on the representations made by the undersigned in this Agreement that the undersigned qualifies as such an accredited investor.
The Units, the Notes and the Shares are “restricted securities” for purposes of the United States securities laws and cannot
be transferred except as permitted under these laws. The Company’s common stock publicly trades in the OTC Market under the symbol
CLCN.

 

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		2.	Acceptance
                                            of Subscription.

 

The
Offering will be open until the sale of all of the Units.

 

Subject
to applicable state securities laws, the Purchaser may not revoke any subscription that

 

such
Purchaser delivers to the Company. However, the undersigned understands and agrees that the Company, in its sole discretion, may (i)
reject the subscription of any Purchaser, whether or not qualified, in whole or in, part, and (ii) may withdraw the Offering at any time
prior to the termination of the Offering. The Company shall have no obligation to accept subscriptions in the order received. This subscription
shall become binding only if accepted by the Company.

 

		3.	Term
                                            Sheet and Information.

 

The
Purchaser hereby acknowledges review of the Term Sheet attached hereto as Exhibit B (the “Term Sheet”) and review
of the Company’s filings with the SEC as well as its Business Plan dated April 2022 (the “Material Information”).
This Offering is subject to the terms and conditions set forth in the Term Sheet which are incorporated by reference herein.

 

		4.	Representations
                                            and Warranties.

 

		1.	The
                                            Company represents and warrants to, and agrees with the undersigned as follows, in each case
                                            as of the date hereof and in all material respects as of the date of any closing, except
                                            for any changes resulting solely from the Offering:

 

		1.	The
                                            Company is duly organized, validly existing and in good standing under the laws of the jurisdiction
                                            of its incorporation with full power and authority to own, lease, license and use its properties
                                            and assets and to carry out the business in which it is engaged. The Company is in good standing
                                            as a foreign corporation in every jurisdiction in which its ownership, leasing, licensing
                                            or use of property or assets or the conduct of its business makes such qualification necessary,
                                            except where the failure to be so qualified would not have a material adverse effect on the
                                            Company.

 

		2.	Each
                                            outstanding share of Common Stock is validly authorized, validly issued, fully paid and non-assessable,
                                            without any personal liability attaching to the ownership thereof and has not been issued
                                            and is not or will not be owned or held in violation of any preemptive rights of stockholders.

 

		3.	There
                                            is no litigation, arbitration, claim, governmental or other proceeding (formal or informal),
                                            or investigation pending or, to the best knowledge of the officers of the Company, threatened
                                            with respect to the Company, or any of its subsidiaries, operations, businesses, properties
                                            or assets such as individually or in the aggregate do not now have and could not reasonably
                                            be expected have a material adverse effect upon the operations, business, properties or assets
                                            of the Company.

 

		4.	The
                                            Company is not in violation of, or in default with respect to, any law, rule, regulation,
                                            order, judgment or decree such as in the aggregate do not now have and will not in the future
                                            have a material adverse effect upon the operations, business, properties or assets of the
                                            Company; nor is the Company required to take any action in order to avoid any such violation
                                            or default.

 

    2 

     

    

 

		5.	The
                                            Company has all requisite power and authority (i) to execute, deliver and perform its obligations
                                            under this Agreement, and (ii) to issue and sell the Units in the Offering.

 

		6.	No
                                            consent, authorization, approval, order, license, certificate or permit of or from, or declaration
                                            or filing with, any United States federal, state, local, or other applicable governmental
                                            authority, or any court or any other tribunal, is required by the Company for the execution,
                                            delivery or performance by the Company of this Agreement or the issuance and sale of the
                                            Units, except such filings and consents as may be required and have been or at the initial
                                            closing will have been made or obtained under the laws of the United States federal and state
                                            securities laws.

 

		7.	The
                                            execution, delivery and performance of this Agreement and the issuance of the Units will
                                            not violate or result in a breach of, or entitle any party (with or without the giving of
                                            notice or the passage of time or both) to terminate or call a default under any agreement
                                            or violate or result in a breach of any term of the Company’s Articles of Incorporation
                                            or Bylaws of, or violate any law, rule, regulation, order, judgment or decree binding upon,
                                            the Company, or to which any of its operations, businesses, properties or assets are subject,
                                            the breach, termination or violation of which, or default under which, would have a material
                                            adverse effect on the operations, business, properties or assets of the Company.

 

		8.	The
                                            Shares issuable through the Units in this Offering are validly authorized and, if and when
                                            issued in accordance with the terms and conditions set forth in the Term Sheet and in this
                                            Agreement, will be validly issued, fully paid and non-assessable without any personal liability
                                            attaching to the ownership thereof, and will not be issued in violation of any preemptive
                                            or other rights of stockholders.

 

		9.	The
                                            Term Sheet and the Material Information do not contain any untrue statement of a material
                                            fact or omit to state any material fact required to be stated therein or necessary to make
                                            the statements therein not misleading. Without limiting the generality of the foregoing,
                                            there has been no material adverse change in the financial condition, results of operations,
                                            business, properties, assets, liabilities, or, to the knowledge of the Company, future prospects
                                            of the Company from the latest information set forth in the Material Information.

 

		2.	The
                                            undersigned hereby represents and warrants to, and agrees with, the Company as follows:

 

		1.	The
                                            undersigned is an “Accredited Investor” as that term is defined in Rule 501 (a)
                                            of Regulation D promulgated under the Securities Act, a copy of which is attached hereto
                                            as Exhibit A to this Agreement. “

 

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		2.	If
                                                                                                                                                                                                             a natural person, the undersigned is: a bona fide resident of the state or non-United
States jurisdiction contained in the address set forth on the Signature Page of this Agreement as the undersigned’s home address;
at least 21 years of age; and legally competent to execute this Agreement. If an entity, the undersigned has its principal offices or
principal place of business in the state or non-United States jurisdiction contained in the address set forth on the Signature Page of
this Agreement, the individual signing on behalf of the undersigned is duly authorized to execute this Agreement and this Agreement constitutes
the legal, valid and binding obligation of the undersigned enforceable against the undersigned in accordance with its terms.

   

		3.	The
                                            undersigned has received, read carefully and is familiar with this Agreement, the Term Sheet
                                            and the information in the Material Information.

 

		4.	The
                                            undersigned (or the undersigned’s purchaser representative) has such knowledge and
                                            experience in finance, securities, taxation, investments and other business matters so as
                                            to be able to protect the interests of the undersigned in connection with this transaction,
                                            and the undersigned’s investment in the Company hereunder is not material when compared
                                            to the undersigned’s total financial capacity.

 

		5.	The
                                            undersigned understands the various risks of an investment in the Company as proposed herein
                                            and can afford to bear such risks, including, without limitation, the risks of losing the
                                            entire investment.

 

		6.	The
                                            undersigned acknowledges that a limited market for the Common
                                            Stock of the Company presently exists as it trades in the OTC Markets and no major
                                            market may develop in the future. Accordingly, the undersigned understands he may find it
                                            impossible to liquidate the investment at a time when it may be desirable to do so, or at
                                            any other time.

 

		7.	The
                                            undersigned has been advised by the Company that neither of the Shares nor the Units has
                                            been registered under the Securities Act, that they will be issued on the basis of the statutory
                                            exemption provided by Rule 506 of the Securities Act or Regulation D promulgated thereunder,
                                            or both, relating to transactions by an issuer not involving any public offering and under
                                            similar exemptions under certain state securities laws; that this transaction has not been
                                            reviewed by, passed on or submitted to any federal or state agency or self- regulatory organization
                                            where an exemption is being relied upon; and that the Company’s reliance thereon is
                                            based in part upon the representations made by the undersigned in this Agreement.

 

		8.	The
                                            undersigned acknowledges that the undersigned has been informed by the Company of or is otherwise
                                            familiar with, the nature of the limitations imposed by the Securities Act and the rules
                                            and regulations thereunder on the transfer of the Shares. In particular, the undersigned
                                            agrees that no sale, assignment or transfer of any of the Shares shall be valid or effective,
                                            and the Company shall not be required to give any effect to such a sale, assignment or transfer,
                                            unless (i) the sale, assignment or transfer of such Shares is registered under
the Securities Act, it being understood that the Shares are not currently registered for sale and that the Company has no obligation
or intention to so register the Shares, except as contemplated by the terms of the Term Sheet or (ii) such Shares are sold, assigned
or transferred in accordance with all the requirements and limitations of Rule 144 under the Securities Act , or (iii) such sale, assignment
or transfer is otherwise exempt from registration under the Securities Act, including Regulation S promulgated thereunder. The undersigned
further understands that an opinion of counsel and other documents may be required to transfer the Shares.

  

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		9.	The
                                            undersigned acknowledges that the Shares shall be subject to a stop transfer order and the
                                            certificate or certificates evidencing any Shares shall bear the following or a substantially
                                            similar legend or such other legend as may appear on the forms of common stock and such other
                                            legends as may be required by state blue sky laws:

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 (THE “ACT”)
OR. APPLICABLE STATE SECURITIES LAWS, AND SUCH SECURITIES MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS
SUCH SALE OR TRANSFER IS EXEMPT FROM SUCH REGISTRATION REQUIREMENTS OF THE ACT AND APPLICABLE STATE SECURITIES LAWS.

 

		10.	The
                                            undersigned will acquire the Units for the undersigned’s own account (or for the joint
                                            account of the undersigned and the undersigned’s spouse either in joint tenancy, tenancy
                                            by ‘he entirety or tenancy in common) for investment and not with a view to the sale
                                            or distribution thereof or the granting of any participation therein and has no present intention
                                            of distributing or selling to others any of such interest or granting any participation therein.

 

		11.	No
                                            oral or written representations have been made other than as stated in the Term Sheet or
                                            Material Information, and no oral or written information furnished to the undersigned or
                                            the undersigned’s advisor(s) in connection with the Offering were in any way inconsistent
                                            with the information stated in the Term Sheet and Material Information.

 

		12.	The
                                            undersigned has consulted his own financial, legal and tax advisors with respect to the economic,
                                            legal and tax consequences of an investment in the Units and has not relied on the Term Sheet
                                            or the Company, its officers, directors or professional advisors for advice as to such consequences.

 

		5.	Indemnification.

 

The
Purchaser understands the meaning and legal consequences of the representations and warranties contained in Section 4.2, and agrees
to indemnify and hold harmless the Company and each member, officer, employee, agent or representative thereof against any and all
loss, damage or liability due to or arising out of a breach of any representation or warranty, or breach or failure to comply with
any covenant, of the Purchaser, whether contained in the Term Sheet or this Subscription Agreement.

 

Notwithstanding
any of the representations, warranties, acknowledgments or agreements made herein by the Purchaser, the Purchaser does not thereby or
in any other manner waive any rights granted to the Purchaser under federal or state securities laws.

 

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		6.	Provisions
                                            of Certain State Laws.

 

IN
MAKING AN INVESTMENT DECISION INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE ISSUER AND THE TERMS OF THE OFFERING INCLUDING THE
MERITS AND RISKS INVOLVED. THESE SECURITIES HAVE NOT BEEN RECOMMENDED BY ANY FEDERAL OR STATE SECURITIES COMMISSION OR REGULATORY AUTHORITY.
FURTHERMORE, THE FOREGOING AUTHORITIES HAVE NOT CONFIRMED THE ACCURACY OR DETERMINED TIE ADEQUACY OF THIS DOCUMENT. ANY REPRESENTATION
TO THE CONTRARY IS A CRIMINAL OFFENSE.

 

THESE
SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. INVESTORS
SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME.

 

THE
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE NEW YORK UNIFORM SECURITIES ACT AND, THEREFORE, CANNOT BE RESOLD UNLESS THEY ARE REGISTERED
UNDER THE ACT OR UNLESS AN EXEMPTION FROM REGISTRATION IS AVAILABLE.

 

		7.	Additional
                                            Documents.

 

The
Purchaser hereby acknowledges, and the Company hereby agrees, that there are additional documents
that are required to be executed by the parties hereto to effectuate the terms and conditions of the Term Sheet and both parties agree
to execute and be bound by such additional documents.

 

		8.	Irrevocability;
                                            Binding Effect.

 

The
Purchaser hereby acknowledges and agrees that the Subscription hereunder is irrevocable, that the Purchaser is not entitled to cancel,
terminate or revoke this Subscription. Agreement or any agreements of the undersigned thereunder and that this Subscription Agreement
and such other agreements shall survive the death or disability of the Purchaser and shall be binding upon and inure to the benefit of
the parties and their heirs, executors, administrators, successors, legal representatives and assigns. If the Purchaser is more than
one person, the obligations of the Purchaser hereunder shall be joint and several and the agreements, representations, warranties and
acknowledgments herein contained shall be deemed to be made by and be binding upon each such person and his heirs, executors, legal representatives
and assigns.

 

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		9.	Modification.

 

Neither
this Subscription Agreement nor any provisions hereof shall be waived, modified, discharged or terminated except by an instrument in
writing signed by the party against whom any such waiver, modification, discharge or termination is sought.

 

		10.	Notices.

 

Any
notice, demand or other communication which any party hereto may be required, or may elect, to give to any other party hereunder shall
be sufficiently given if (a) deposited, postage prepaid, in a United States mailbox, stamped registered or certified mail, return receipt
requested, addressed to such address as may be listed on the books of the Company, or (b) delivered personally at such address.

 

		11.	Counterparts.

 

This
Subscription Agreement may be executed through the use of separate signature pages or in any number of counterparts, and each such counterpart
shall, for all purposes, constitute one agreement binding on all parties, notwithstanding that all parties are not signatories to the
same counterpart.

 

		12.	Entire
                                            Agreement.

 

This
Subscription Agreement contains the entire agreement of the parties with respect to the subject matter hereof and there are no representations,
covenants or other agreements except as stated or referred to herein.

 

		13.	Severability.

 

Each
provision of this Subscription Agreement is intended to be severable from every other provision, and the invalidity or illegality of
any Portion hereof shall not affect the validity or legality of the remainder hereof.

 

		14.	Assignability.

 

This
Subscription Agreement is not transferable or assignable by the Purchaser.

 

		15.	Applicable
                                            Law.

 

This
Subscription Agreement shall be governed by and construed in accordance with the laws of the State of Delaware as applied to residents
of that State executing contracts wholly to be performed in that State.

 

		16.	Choice
                                            of Jurisdiction.

 

The
parties agree that any action arising in connection with this Subscription Agreement, or any transaction covered hereby shall be resolved
within the State of New Jersey.

 

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IN
WITNESS THEREOF, the undersigned exercises and agrees to be bound by this Subscription Agreement by executing the Signature Page
attached hereto on the date therein indicated.

 

By
executing this Signature Page, the undersigned hereby executes, adopts and agrees to all terms, conditions and representations
of this Subscription Agreement and acknowledges all requirements are met by the purchaser to purchase Units in the Company.

 

Number
of Units Subscribed at $50,000 per Unit: ____________________________________

 

Aggregate
Purchase Price: $ _____________________________________________

 

	Type of ownership:	Individual
	 	Joint Tenants
	 	Tenants by the Entirety
	 	Tenants in Common
	 	Subscribing as Corporation or Partnership
	 	Other

 

IN
WITNESS WHEREOF, the undersigned Purchaser has executed this Signature Page this ______________ day of ______________________,
2022.

 

	 	 	 
	Exact Name in which Units are	 	Exact Name in which Units are to
	to be Registered	 	be Registered

 

	 	 	 
	Signature	 	Signature
	 	 	 
	 	 	 
	Print Name	 	Print Name
	 	 	 
	 	 	 
	Tax Identification Number:	 	Tax Identification Number
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

	Mailing Address	 	Mailing Address

       

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	Additional Optional Information
	 	 	 
	 	 	 
	 	 	 
	Phone Number	 	Phone Number
	 	 	 
	 	 	 
	 	 	 
	E-Mail Address	 	E-Mail Address

 

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ACCEPTANCE
OF SUBSCRIPTION

 

DRIVEITAWAY
HOLDINGS, INC. hereby accepts this subscription of Units.

 

DRIVEITAWAY
HOLDINGS, INC.

 

By:_________________________________________________

 

Name:
_________________________________________________

 

Title:_________________________________________________

 

Date:
_________________________________________________

 

    10 

     

    

  

Exhibit
A to Subscription Agreement

 

DEFINITION
OF “ACCREDITED INVESTOR” WITHIN THE MEANING OF REGULATION D

 

An
accredited investor means any person who comes within any of the following categories, or whom the Company reasonably believes comes
within any of the following categories, at the time of the sale of the Shares to that person:

 

●           any
bank as defined in Section 3(a)(2) of the Securities Act or any savings and loan association or other institution as defined in Section
3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary capacity; any broker dealer registered pursuant to Section
15 of the Exchange Act; any insurance company as defined in Section 2(13) of the Securities Act; any investment company registered under
the Investment Company Act of 1940 or a business development company as defined in Section 2(a)(48) of that act; any Small Business Investment
Company licensed by the U.S., Small Business Administration under Section 301 (c) or (d) of the Small Business Investment Act of 1958;
any plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political
subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000; any employee benefit plan
within the meaning of the Employee Retirement Income Security Act of 1974, if the investment decision is made by a plan fiduciary,
as defined in Section 3(21) of such act, which is either a bank, savings and loan association, insurance company, or registered investment
adviser, or if the employee benefit plan has total assets in excess of $5,000,000, or, if a self-directed plan, with investment decisions
made solely by persons that are accredited investors;

 

●           any
private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940;

 

●           any
organization described in Section 501(c)(3) of the Internal Revenue Code, corporation, Massachusetts or similar business trust, or partnership,
not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000;

 

	 	●	any
                                            of the directors or executive officers of the Company;

 

●           any
natural person whose individual net worth, or joint net worth with that person’s spouse, at the time of investment in the Common
Stock, exceeds $1,000,000;

 

●           any
natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person’s
spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching that same income level in the current
year;

 

●           any
trust with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Common Stock, whose purchase is
directed by a sophisticated person as described in Rule 506(b)(2)(ii) of Regulation D; or

 

		 	●	any
                                            entity in which all of the equity owners are accredited investors.

 

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Exhibit
B

 

OFFERING
SUMMARY TERM SHEET

 

	Issuer:
	DriveItAway
Holdings, Inc. (the “Company”).   Current Ticker Symbol: CLCN (OTCQB).  
	 	 
	Issue:	$500,000 of
Convertible Notes (the “Notes”) and warrants (the “Warrants”) to purchase up to 250,000 shares
of common stock of the Company (“Common Stock”).  
	 	 
	Investors:
	Accredited Investors
 
	 	 
	Units:
	10
Units consisting of a $50,000 Note and a Warrant as described below shall be sold until the $500,000 is sold. The Company may accept
partial Units in its sole discretion.  
	 	 
	Warrants:	Each
$50,000 Unit shall consist of a five-year Warrant (the “Warrant”) to purchase up to 25,000 shares of Common
Stock at a price of $.30 per share (the “Shares”).  
	 	 
	Conversion
Price: 	The
Conversion Price for each Note shall be equal to $.20 per share subject to standard adjustments (the “Conversion Price”).
  The Noteholders may elect to convert the Notes into Common Stock of the Company at the Conversion Price at any time following
the issuance.  
	 	 
	Interest:
	The
interest shall be at the annual rate of 15%, payable, in cash, monthly commencing 90 days from closing, with the first 90-day interest
amount paid at maturity.  

 

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	Maturity:
 	Any
unconverted Notes outstanding on the second anniversary of its issuance will be redeemed in cash equal to the face amount of the Notes
plus all accrued Interest and any other amounts due. 
	 	 
	Security:	The
Notes will be secured by a first lien on the 8 vehicles purchased by the Company with the net proceeds of this Offering along with a
lien on 2 other vehicles owned by the Company if all $500,000 is closed. Each Noteholder’s security interest will be held by them
on a pro rata basis determined by the amount of their Note. The Noteholders may appoint a representative with respect to their security
interests.
	 	 
	Rule
144: 	So long as any of
the Notes, Shares or Warrants are outstanding,   the Company must timely file and remain current in its periodic filings with
the SEC and must fully cooperate with Investors’ requests for information including but not limited to the procuring of a legal
opinion for the sale of any shares received from the Notes or Warrants pursuant to Rule 144.  
	 	 
	Redemption Rights:
	The Company may
redeem any unconverted Notes in cash at any time after issuance, at a 10 % premium to the face amount of such Notes.
	 	 
	Use
of Proceeds:	The Company will
use the net proceeds to acquire up to 8 vehicles.  
	 	 
	Registration
Rights:	The
holders of the Notes and Warrants shall be entitled to piggyback registration rights whereby the shares of Common Stock underlying such
securities will be registered on any Registration Statement which is filed after the issuance of such Notes and Warrants.

 

13

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