Document:

FORM
OF WARRANT

 

THIS
WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “ACT”), OR QUALIFIED UNDER ANY STATE OR FOREIGN SECURITIES LAWS AND MAY NOT BE OFFERED FOR SALE,
SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR ASSIGNED UNLESS (I) A REGISTRATION STATEMENT COVERING SUCH SHARES IS EFFECTIVE
UNDER THE ACT AND IS QUALIFIED UNDER APPLICABLE STATE AND FOREIGN LAW OR (II) THE TRANSACTION IS EXEMPT FROM THE REGISTRATION
AND PROSPECTUS DELIVERY REQUIREMENTS UNDER THE ACT AND THE QUALIFICATION REQUIREMENTS UNDER APPLICABLE STATE AND FOREIGN LAW AND,
IF THE CORPORATION REQUESTS, AN OPINION SATISFACTORY TO THE CORPORATION TO SUCH EFFECT HAS BEEN RENDERED BY COUNSEL.

 

THIS
WARRANT (AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT) IS SUBJECT TO A SHARE EXCHANGE AGREEMENT, DATED AS OF THE
DATE HEREOF, BY AND AMONG TRAQIQ, INC. (THE “COMPANY”), CERTAIN STOCKHOLDERS OF THE COMPANY, AND THE ORIGINAL
HOLDER HEREOF (AS AMENDED FROM TIME TO TIME, THE “SHARE EXCHANGE AGREEMENT”). NO TRANSFER, SALE, ASSIGNMENT,
PLEDGE, HYPOTHECATION OR OTHER DISPOSITION OF THE SECURITIES REPRESENTED BY THIS WARRANT MAY BE MADE EXCEPT IN ACCORDANCE WITH
THE PROVISIONS OF SUCH STOCKHOLDERS AGREEMENT. A COPY OF THE STOCKHOLDERS AGREEMENT SHALL BE FURNISHED WITHOUT CHARGE BY THE COMPANY
TO THE HOLDER HEREOF UPON REQUEST.

 

Warrant
Certificate No.: 1

 

Original
Issue Date: May 16, 2019

 

FOR
VALUE RECEIVED, TRAQIQ, INC., a California corporation (the “Company”), hereby certifies that [NAME OF HOLDER],
a [JURISDICTION AND TYPE OF ENTITY], or its registered assigns (the “Holder”) is entitled to purchase from
the Company [SPECIFIED NUMBER] duly authorized, validly issued, fully paid and nonassessable shares of Common Stock at a purchase
price per share of $0.0001 (subject to adjustment as provided herein, the “Exercise Price”), all subject to
the terms, conditions and adjustments set forth below in this Warrant. Certain capitalized terms used herein are defined in Section
1 hereof.

 

This
Warrant has been issued pursuant to the terms of the SHARE EXCHANGE AGREEMENT, dated as of May 16, 2019, between the Company and
the Holder.

 

1.
Definitions.
As used in this Warrant, the following terms have the respective meanings set forth below:

 

“Aggregate
Exercise Price” means an amount equal to the product of (a) the number of Warrant Shares in respect of which this Warrant
is then being exercised pursuant to Section 3 hereof, multiplied by (b) the Exercise Price in effect as of the Exercise
Date in accordance with the terms of this Warrant.

 

    	 	 	 

    	 	 	 

    

 

“Board”
means the board of directors of the Company.

 

“Business
Day” means any day, except a Saturday, Sunday or legal holiday, on which banking institutions in the city of Los Angeles
are authorized or obligated by law or executive order to close.

 

“Common
Stock” means the common stock, par value $0.0001 per share, of the Company, and any capital stock into which such Common
Stock shall have been converted, exchanged or reclassified following the date hereof.

 

“Common
Stock Deemed Outstanding” means, at any given time, the sum of (a) the number of shares of Common Stock actually outstanding
at such time, plus (b) the number of shares of Common Stock issuable upon conversion or exchange of Convertible Securities
actually outstanding at such time, regardless of whether the Convertible Securities are actually exercisable at such time; provided,
that Common Stock Deemed Outstanding at any given time shall not include shares owned or held by or for the account of the Company
or any of its wholly-owned subsidiaries.

 

“Company”
has the meaning set forth in the preamble.

 

“Convertible
Securities” means any securities (directly or indirectly) convertible into or exchangeable for Common Stock.

 

“Excluded
Issuances” means any issuance or sale (or deemed issuance or sale in accordance with Section 4(d)) by the Company after
the Original Issue Date of: (a) shares of Common Stock issued upon the exercise of this Warrant; (b) up to an aggregate of 30,000,000
shares of Common Stock (as such number of shares is equitably adjusted for subsequent stock splits, stock combinations, stock
dividends and recapitalizations) issued directly or upon the Regulation A offering of the Company, their employment by the Company
or their retention as consultants by the Company, in each case authorized by the Board and issued pursuant to the Company’s
2019 Stock Option Plan, which will be formed in the third quarter of 2019, (including all such shares of Common Stock outstanding
prior to the Original Issue Date); (c) shares of Common Stock issued upon the conversion of Convertible Securities issued prior
to the Original Issue Date, provided that such securities are not amended after the date hereof to increase the number
of shares of Common Stock issuable thereunder or to lower the exercise or conversion price thereof; (d) shares of Common Stock
or Convertible Securities issued (i) to persons in connection with a joint venture, strategic alliance or other commercial relationship
with such person (including persons that are customers, suppliers and strategic partners of the Company) relating to the operation
of the Company’s business and not for the primary purpose of raising equity capital, (ii) in connection with a transaction
in which the Company, directly or indirectly, acquires another business or its tangible or intangible assets, or (iii) to lenders
as equity kickers in connection with debt financings of the Company, in each case where such transactions have been approved by
the Board; (e) shares of Common Stock in an offering for cash for the account of the Company that is offering pursuant to any
offering registered with the Securities and Exchange Commission under the Securities Act of 1933, as amended or any offering exempt
thereunder.

 

    	 	2	 

    	 	 	 

    

 

“Exercise
Date” means, for any given exercise of this Warrant, the date on which the conditions to such exercise as set forth
in Section 3 shall have been satisfied at or prior to 5:00 p.m., Pacific time, on a Business Day, including, without limitation,
the receipt by the Company of the Exercise Agreement, the Warrant and the Aggregate Exercise Price.

 

“Exercise
Agreement” has the meaning set forth in Section 3(a)(i).

 

“Exercise
Period” has the meaning set forth in Section 2.

 

“Exercise
Price” has the meaning set forth in the preamble.

 

“Fair
Market Value” means, as of any particular date: (a) the volume weighted average of the closing sales prices of the Common
Stock for such day on all domestic securities exchanges on which the Common Stock may at the time be listed; (b) if there have
been no sales of the Common Stock on any such exchange on any such day, the average of the highest bid and lowest asked prices
for the Common Stock on all such exchanges at the end of such day; (c) if on any such day the Common Stock is not listed on a
domestic securities exchange, the closing sales price of the Common Stock as quoted on the OTC Bulletin Board, the Pink OTC Markets
or similar quotation system or association for such day; or (d) if there have been no sales of the Common Stock on the OTC Bulletin
Board, the Pink OTC Markets or similar quotation system or association on such day, the average of the highest bid and lowest
asked prices for the Common Stock quoted on the OTC Bulletin Board, the Pink OTC Markets or similar quotation system or association
at the end of such day; in each case, averaged over twenty (20) consecutive Business Days ending on the Business Day immediately
prior to the day as of which “Fair Market Value” is being determined; provided, that if the Common Stock is
listed on any domestic securities exchange, the term “Business Day” as used in this sentence means Business Days on
which such exchange is open for trading. If at any time the Common Stock is not listed on any domestic securities exchange or
quoted on the OTC Bulletin Board, the Pink OTC Markets or similar quotation system or association, the “Fair Market Value”
of the Common Stock shall be $10,000,000 as set forth in the Share Exchange Agreement.

 

“Holder”
has the meaning set forth in the preamble.

 

“Options”
means any warrants or other rights or options to subscribe for or purchase Common Stock or Convertible Securities.

 

“Original
Issue Date” means May 16, 2019, the date on which the Warrant was issued by the Company pursuant to the Share Exchange
Agreement.

 

“Nasdaq”
means The NASDAQ Stock Market LLC.

 

“OTC
Bulletin Board” means the Financial Industry Regulatory Authority OTC Bulletin Board electronic inter-dealer quotation
system.

 

    	 	3	 

    	 	 	 

    

 

“Person”
means any individual, sole proprietorship, partnership, limited liability company, corporation, joint venture, trust, incorporated
organization or government or department or agency thereof.

 

“Pink
OTC Markets” means the OTC Markets Group Inc. electronic inter-dealer quotation system, including OTCQX, OTCQB and OTC
Pink.

 

“Share
Exchange Agreement” has the meaning set forth in the preamble.

 

“Warrant”
means this Warrant and all warrants issued upon division or combination of, or in substitution for, this Warrant.

 

“Warrant
Shares” means the shares of Common Stock or other capital stock of the Company then purchasable upon exercise of this
Warrant in accordance with the terms of this Warrant.

 

2.
Term of Warrant.
Subject to the terms and conditions hereof and as set forth in Section 1.1(a)(i) of the Share Exchange Agreement, at any time
or from time to time after the date hereof and prior to 5:00 p.m., Pacific time, on the fifth anniversary of the date hereof or,
if such day is not a Business Day, on the next preceding Business Day (the “Exercise Period”), the Holder of
this Warrant may exercise this Warrant for all or any part of the Warrant Shares purchasable hereunder (subject to adjustment
as provided herein). The Company shall give the Holder written notice of the expiration of the Exercise Period not less than 30
days but not more than 60 days prior to the end of the Exercise Period.

 

3.
Exercise of Warrant.

 

(a)
Exercise Procedure. This Warrant may be exercised from time to time on any Business Day during the Exercise Period subject to
Section 1.1(a)(i) of the Share Exchange Agreement, for all or any part of the unexercised Warrant Shares, upon:

 

(i)
surrender of this Warrant to the Company at its then principal executive offices (or an indemnification undertaking with respect
to this Warrant in the case of its loss, theft or destruction), together with an Exercise Agreement in the form attached hereto
as Exhibit A (each, an “Exercise Agreement”), duly completed (including specifying the number of Warrant
Shares to be purchased) and executed; and

 

(ii)
payment to the Company of the Aggregate Exercise Price in accordance with Section 3(b).

 

(b)
Payment of the Aggregate Exercise Price. Payment of the Aggregate Exercise Price shall be made, at the option of the Holder as
expressed in the Exercise Agreement, by the following methods:

 

(i)
by delivery to the Company of a certified or official bank check payable to the order of the Company or by wire transfer of immediately
available funds to an account designated in writing by the Company, in the amount of such Aggregate Exercise Price;

 

    	 	4	 

    	 	 	 

    

 

(ii)
by instructing the Company to issue Warrant Shares then issuable upon exercise of all or any part of this Warrant on a net basis
such that, without payment of any cash consideration or other immediately available funds, the Holder shall surrender this Warrant
in exchange for the number of Warrant Shares as is computed using the following formula:

 

Where:

 

X
= the number of Warrant Shares to be issued to the Holder.

 

Y
= the total number of Warrant Shares for which the Holder has elected to exercise this Warrant pursuant to Section 3(a).

 

A
= the Fair Market Value of one Warrant Share as of the applicable Exercise Date.

 

B
= the Exercise Price in effect under this Warrant as of the applicable Exercise

 

Date.

 

X
= Y(A - B) ÷ A]

 

(iii)
by surrendering to the Company (x) Warrant Shares previously acquired by the Holder with an aggregate Fair Market Value as of
the Exercise Date equal to such Aggregate Exercise Price and/or (y) other securities of the Company having a value as of the Exercise
Date equal to the Aggregate Exercise Price; or

 

(iv)
any combination of the foregoing.

 

In
the event of any withholding of Warrant Shares or surrender of other equity securities pursuant to clause (ii), (iii) or (iv)
above where the number of shares whose value is equal to the Aggregate Exercise Price is not a whole number, the number of shares
withheld by or surrendered to the Company shall be rounded up to the nearest whole share.

 

(c)
Delivery of Stock Certificates. Upon receipt by the Company of the Exercise Agreement, surrender of this Warrant and payment of
the Aggregate Exercise Price (in accordance with Section 3(a) hereof), the Company shall, as promptly as practicable, and in any
event within thirty (30) Business Days thereafter, execute (or cause to be executed) and deliver (or cause to be delivered) to
the Holder a certificate or certificates representing the Warrant Shares issuable upon such exercise. The stock certificate or
certificates so delivered shall be, to the extent possible, in such denomination or denominations as the exercising Holder shall
reasonably request in the Exercise Agreement and shall be registered in the name of the Holder or, subject to compliance with
Section 7 below, such other Person’s name as shall be designated in the Exercise Agreement. This Warrant shall be deemed
to have been exercised and such certificate or certificates of Warrant Shares shall be deemed to have been issued, and the Holder
or any other Person so designated to be named therein shall be deemed to have become a holder of record of such Warrant Shares
for all purposes, as of the Exercise Date.

 

    	 	5	 

    	 	 	 

    

 

(d)
Fractional Shares. The Company shall not be required to issue a fractional Warrant Share upon exercise of any Warrant. As to any
fraction of a Warrant Share that the Holder would otherwise be entitled to purchase upon such exercise, the Company shall round
up to the next whole share.

 

(e)
Delivery of New Warrant. Unless the purchase rights represented by this Warrant shall have expired or shall have been fully exercised,
the Company shall, at the time of delivery of the certificate or certificates representing the Warrant Shares being issued in
accordance with Section 3(c) hereof, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unexpired
and unexercised Warrant Shares called for by this Warrant. Such new Warrant shall in all other respects be identical to this Warrant.

 

(f)
Valid Issuance of Warrant and Warrant Shares; Payment of Taxes. With respect to the exercise of this warrant, the Company hereby
represents, covenants and agrees:

 

(i)
This Warrant is, and any Warrant issued in substitution for or replacement of this Warrant shall be, upon issuance, duly authorized
and validly issued.

 

(ii)
All Warrant Shares issuable upon the exercise of this Warrant pursuant to the terms hereof shall be, upon issuance, and the Company
shall take all such actions as may be necessary or appropriate in order that such Warrant Shares are, validly issued, fully paid
and non-assessable, issued without violation of any preemptive or similar rights of any stockholder of the Company and free and
clear of all taxes, liens and charges.

 

(iii)
The Company shall take all such actions as may be necessary to ensure that all such Warrant Shares are issued without violation
by the Company of any applicable law or governmental regulation or any requirements of any domestic securities exchange upon which
shares of Common Stock or other securities constituting Warrant Shares may be listed at the time of such exercise (except for
official notice of issuance which shall be immediately delivered by the Company upon each such issuance).

 

(iv)
Intentionally omitted.

 

(v)
The Company shall pay all expenses in connection with, and all taxes and other governmental charges that may be imposed with respect
to, the issuance or delivery of Warrant Shares upon exercise of this Warrant; provided, that the Company shall not be required
to pay any tax or governmental charge that may be imposed with respect to any applicable withholding or the issuance or delivery
of the Warrant Shares to any Person other than the Holder, and no such issuance or delivery shall be made unless and until the
Person requesting such issuance has paid to the Company the amount of any such tax, or has established to the satisfaction of
the Company that such tax has been paid.

 

    	 	6	 

    	 	 	 

    

 

(g)
Intentionally omitted.

 

(h)
Reservation of Shares. During the Exercise Period, the Company shall at all times reserve and keep available out of its authorized
but unissued Common Stock, the maximum number of Warrant Shares issuable upon the exercise of this Warrant, and the par value
per Warrant Share shall at all times be less than or equal to the applicable Exercise Price. The Company shall not increase the
par value of any Warrant Shares receivable upon the exercise of this Warrant above the Exercise Price then in effect, and shall
take all such actions as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and
nonassessable shares of Common Stock upon the exercise of this Warrant.

 

4.
Adjustment to Exercise Price and Number of Warrant Shares.
In order to prevent dilution of the purchase rights granted under this Warrant, the Exercise Price and the number of Warrant Shares
issuable upon exercise of this Warrant shall be subject to adjustment from time to time as provided in this Section 4 (in each
case, after taking into consideration any prior adjustments pursuant to this Section 4).

 

(a)
Adjustment to Exercise Price Upon Issuance of Common Stock. Except as provided in Section 4(c) and except in the case of an event
described in either Section 4(e) or Section 4(f), if the Company shall, at any time or from time to time after the Original Issue
Date, issue or sell, or in accordance with Section 4(d) is deemed to have issued or sold, any shares of Common Stock without consideration
or for consideration per share less than the Exercise Price in effect immediately prior to such issuance or sale (or deemed issuance
or sale), then immediately upon such issuance or sale (or deemed issuance or sale), the Exercise Price in effect immediately prior
to such issuance or sale (or deemed issuance or sale) shall be reduced (and in no event increased) to an Exercise Price equal
to the quotient obtained by dividing:

 

(i)
the sum of (A) the product obtained by multiplying the Common Stock Deemed Outstanding immediately prior to such issuance or sale
(or deemed issuance or sale) by the Exercise Price then in effect plus (B) the aggregate consideration, if any, received by the
Company upon such issuance or sale (or deemed issuance or sale); by

 

(ii)
the sum of (A) the Common Stock Deemed Outstanding immediately prior to such issuance or sale (or deemed issuance or sale) plus
(B) the aggregate number of shares of Common Stock issued or sold (or deemed issued or sold) by the Company in such issuance or
sale (or deemed issuance or sale).

 

    	 	7	 

    	 	 	 

    

 

(b)
Adjustment to Number of Warrant Shares Upon Adjustment to Exercise Price. Upon any and each adjustment of the Exercise Price as
provided in Section 4(a), the number of Warrant Shares issuable upon the exercise of this Warrant immediately prior to any such
adjustment shall be increased to a number of Warrant Shares equal to the quotient obtained by dividing:

 

(i)
the product of (A) the Exercise Price in effect immediately prior to any such adjustment multiplied by (B) the number of Warrant
Shares issuable upon exercise of this Warrant immediately prior to any such adjustment; by

 

(ii)
the Exercise Price resulting from such adjustment.

 

(c)
Exceptions to Adjustment Upon Issuance of Common Stock. Anything herein to the contrary notwithstanding, there shall be no adjustment
to the Exercise Price or the number of Warrant Shares issuable upon exercise of this Warrant with respect to any Excluded Issuance.

 

(d)
Effect of Certain Events on Adjustment to Exercise Price. For purposes of determining the adjusted Exercise Price under Section
4(a) hereof, the following shall be applicable:

 

(i)
Issuance of Options. [If the Company shall, at any time or from time to time after the Original Issue Date, in any manner grant
or sell (whether directly or by assumption in a merger or otherwise) any Options, whether or not such Options or the right to
convert or exchange any Convertible Securities issuable upon the exercise of such Options are immediately exercisable, and the
price per share (determined as provided in this paragraph and in Section 4(d)(v) ) for which Common Stock is issuable upon the
exercise of such Options or upon the conversion or exchange of Convertible Securities issuable upon the exercise of such Options
is less than the Exercise Price in effect immediately prior to the time of the granting or sale of such Options, then the total
maximum number of shares of Common Stock issuable upon the exercise of such Options or upon conversion or exchange of the total
maximum amount of Convertible Securities issuable upon the exercise of such Options shall be deemed to have been issued as of
the date of granting or sale of such Options (and thereafter shall be deemed to be outstanding for purposes of adjusting the Exercise
Price under Section 4(a)), at a price per share equal to the quotient obtained by dividing (A) the sum (which sum shall constitute
the applicable consideration received for purposes of Section 4(a)) of (x) the total amount, if any, received or receivable by
the Company as consideration for the granting or sale of all such Options, plus (y) the minimum aggregate amount of additional
consideration payable to the Company upon the exercise of all such Options, plus (z), in the case of such Options which relate
to Convertible Securities, the minimum aggregate amount of additional consideration, if any, payable to the Company upon the issuance
or sale of all such Convertible Securities and the conversion or exchange of all such Convertible Securities, by (B) the total
maximum number of shares of Common Stock issuable upon the exercise of all such Options or upon the conversion or exchange of
all Convertible Securities issuable upon the exercise of all such Options. Except as otherwise provided in Section 4(d)(iii),
no further adjustment of the Exercise Price shall be made upon the actual issuance of Common Stock or of Convertible Securities
upon exercise of such Options or upon the actual issuance of Common Stock upon conversion or exchange of Convertible Securities
issuable upon exercise of such Options.

 

    	 	8	 

    	 	 	 

    

 

(ii)
Issuance of Convertible Securities. [If the Company shall, at any time or from time to time after the Original Issue Date, in
any manner grant or sell (whether directly or by assumption in a merger or otherwise) any Convertible Securities, whether or not
the right to convert or exchange any such Convertible Securities is immediately exercisable, and the price per share (determined
as provided in this paragraph and in Section 4(d)(v) ) for which Common Stock is issuable upon the conversion or exchange of such
Convertible Securities is less than the Exercise Price in effect immediately prior to the time of the granting or sale of such
Convertible Securities, then the total maximum number of shares of Common Stock issuable upon conversion or exchange of the total
maximum amount of such Convertible Securities shall be deemed to have been issued as of the date of granting or sale of such Convertible
Securities (and thereafter shall be deemed to be outstanding for purposes of adjusting the Exercise Price pursuant to Section
4(a)), at a price per share equal to the quotient obtained by dividing (A) the sum (which sum shall constitute the applicable
consideration received for purposes of Section 4(a)) of (x) the total amount, if any, received or receivable by the Company as
consideration for the granting or sale of such Convertible Securities, plus (y) the minimum aggregate amount of additional consideration,
if any, payable to the Company upon the conversion or exchange of all such Convertible Securities, by (B) the total maximum number
of shares of Common Stock issuable upon the conversion or exchange of all such Convertible Securities. Except as otherwise provided
in Section 4(d)(iii), no further adjustment of the Exercise Price shall be made upon the actual issuance of Common Stock upon
conversion or exchange of such Convertible Securities or the issue or sale of Convertible Securities upon exercise of any Options
to purchase any such Convertible Securities for which adjustments of the Exercise Price have been made pursuant to the other provisions
of this Section 4(d).

 

(iii)
Change in Terms of Options or Convertible Securities. [Upon any change in any of (A) the total amount received or receivable by
the Company as consideration for the granting or sale of any Options or Convertible Securities referred to in Section 4(d)(i)
or Section 4(d)(ii) hereof, (B) the minimum aggregate amount of additional consideration, if any, payable to the Company upon
the exercise of any Options or upon the issuance, conversion or exchange of any Convertible Securities referred to in Section
4(d)(i) or Section 4(d)(ii) hereof, (C) the rate at which Convertible Securities referred to in Section 4(d)(i) or Section 4(d)(ii)
hereof are convertible into or exchangeable for Common Stock, or (D) the maximum number of shares of Common Stock issuable in
connection with any Options referred to in Section 4(d)(i) hereof or any Convertible Securities referred to in Section 4(d)(ii)
hereof (in each case, other than in connection with an Excluded Issuance), then (whether or not the original issuance or sale
of such Options or Convertible Securities resulted in an adjustment to the Exercise Price pursuant to this Section 4) the Exercise
Price in effect at the time of such change shall be adjusted or readjusted, as applicable, to the Exercise Price which would have
been in effect at such time pursuant to the provisions of this Section 4 had such Options or Convertible Securities still outstanding
provided for such changed consideration, conversion rate or maximum number of shares, as the case may be, at the time initially
granted, issued or sold, but only if as a result of such adjustment or readjustment the Exercise Price then in effect is reduced,
and the number of Warrant Shares issuable upon the exercise of this Warrant immediately prior to any such adjustment or readjustment
shall be correspondingly adjusted or readjusted pursuant to the provisions of Section 4(b).

 

    	 	9	 

    	 	 	 

    

 

(iv)
Treatment of Expired or Terminated Options or Convertible Securities. Upon the expiration or termination of any unexercised Option
(or portion thereof) or any unconverted or unexchanged Convertible Security (or portion thereof) for which any adjustment (either
upon its original issuance or upon a revision of its terms) was made pursuant to this Section 4 (including without limitation
upon the redemption or purchase for consideration of all or any portion of such Option or Convertible Security by the Company),
the Exercise Price then in effect hereunder shall forthwith be changed pursuant to the provisions of this Section 4 to the Exercise
Price which would have been in effect at the time of such expiration or termination had such unexercised Option (or portion thereof)
or unconverted or unexchanged Convertible Security (or portion thereof), to the extent outstanding immediately prior to such expiration
or termination, never been issued.

 

(v)
Calculation of Consideration Received. If the Company shall, at any time or from time to time after the Original Issue Date, issue
or sell, or is deemed to have issued or sold in accordance with Section 4(d), any shares of Common Stock, Options or Convertible
Securities: (A) for cash, the consideration received therefor shall be deemed to be the net amount received by the Company therefor;
(B) for consideration other than cash, the amount of the consideration other than cash received by the Company shall be the fair
value of such consideration, except where such consideration consists of marketable securities, in which case the amount of consideration
received by the Company shall be the market price (as reflected on any securities exchange, quotation system or association or
similar pricing system covering such security) for such securities as of the end of business on the date of receipt of such securities;
(C) for no specifically allocated consideration in connection with an issuance or sale of other securities of the Company, together
comprising one integrated transaction, the amount of the consideration therefor [shall be deemed to be the fair value of such
portion of the aggregate consideration received by the Company in such transaction as is attributable to such shares of Common
Stock, Options or Convertible Securities, as the case may be, issued in such transaction/shall be deemed to be $0.01/shall be
deemed to have been issued without consideration]; or (D) to the owners of the non-surviving entity in connection with any merger
in which the Company is the surviving corporation, the amount of consideration therefor shall be deemed to be the fair value of
such portion of the net assets and business of the non-surviving entity as is attributable to such shares of Common Stock, Options
or Convertible Securities, as the case may be, issued to such owners. The net amount of any cash consideration and the fair value
of any consideration other than cash or marketable securities shall be determined in good faith jointly by the Board and the Holder.

 

    	 	10	 

    	 	 	 

    

 

(vi)
Record Date. For purposes of any adjustment to the Exercise Price or the number of Warrant Shares in accordance with this Section
4, in case the Company shall take a record of the holders of its Common Stock for the purpose of entitling them (A) to receive
a dividend or other distribution payable in Common Stock, Options or Convertible Securities or (B) to subscribe for or purchase
Common Stock, Options or Convertible Securities, then such record date shall be deemed to be the date of the issue or sale of
the shares of Common Stock deemed to have been issued or sold upon the declaration of such dividend or the making of such other
distribution or the date of the granting of such right of subscription or purchase, as the case may be[; provided, that
if before the distribution to its holders of Common Stock the Company legally abandons its plan to pay or deliver such dividend,
distribution, subscription or purchase rights, then thereafter no adjustment shall be required by the taking of such record and
any such adjustment previously made in respect thereof shall be rescinded and annulled].

 

(vii)
Treasury Shares. The number of shares of Common Stock outstanding at any given time shall not include shares owned or held by
or for the account of the Company or any of its wholly-owned subsidiaries, and the disposition of any such shares (other than
the cancellation or retirement thereof or the transfer of such shares among the Company and its wholly-owned subsidiaries) shall
be considered an issue or sale of Common Stock for the purpose of this Section 4.

 

(viii)
Other Dividends and Distributions. Subject to the provisions of this Section 4(d), if the Company shall, at any time or from time
to time after the Original Issue Date, make or declare, or fix a record date for the determination of holders of Common Stock
entitled to receive, a dividend or any other distribution payable in securities of the Company (other than a dividend or distribution
of shares of Common Stock, Options or Convertible Securities in respect of outstanding shares of Common Stock), cash or other
property, then, and in each such event, provision shall be made so that the Holder shall receive upon exercise of the Warrant,
in addition to the number of Warrant Shares receivable thereupon, the kind and amount of securities of the Company, cash or other
property which the Holder would have been entitled to receive had the Warrant been exercised in full into Warrant Shares on the
date of such event and had the Holder thereafter, during the period from the date of such event to and including the Exercise
Date, retained such securities, cash or other property receivable by them as aforesaid during such period, giving application
to all adjustments called for during such period under this Section 4 with respect to the rights of the Holder; provided,
that no such provision shall be made if the Holder receives, simultaneously with the distribution to the holders of Common Stock,
a dividend or other distribution of such securities, cash or other property in an amount equal to the amount of such securities,
cash or other property as the Holder would have received if the Warrant had been exercised in full into Warrant Shares on the
date of such event.

 

    	 	11	 

    	 	 	 

    

 

(e)
Adjustment to Exercise Price and Warrant Shares Upon Dividend, Subdivision or Combination of Common Stock. If the Company shall,
at any time or from time to time after the Original Issue Date, (i) pay a dividend or make any other distribution upon the Common
Stock or any other capital stock of the Company payable in shares of Common Stock or in Options or Convertible Securities, or
(ii) subdivide (by any stock split, recapitalization or otherwise) its outstanding shares of Common Stock into a greater number
of shares, the Exercise Price in effect immediately prior to any such dividend, distribution or subdivision shall be proportionately
reduced and the number of Warrant Shares issuable upon exercise of this Warrant shall be proportionately increased. If the Company
at any time combines (by combination, reverse stock split or otherwise) its outstanding shares of Common Stock into a smaller
number of shares, the Exercise Price in effect immediately prior to such combination shall be proportionately increased and the
number of Warrant Shares issuable upon exercise of this Warrant shall be proportionately decreased. Any adjustment under this
Section 4(e) shall become effective at the close of business on the date the dividend, subdivision or combination becomes effective.

 

(f)
Adjustment to Exercise Price and Warrant Shares Upon Reorganization, Reclassification, Consolidation or Merger. In the event of
any (i) capital reorganization of the Company, (ii) reclassification of the stock of the Company (other than a change in par value
or from par value to no par value or from no par value to par value or as a result of a stock dividend or subdivision, split-up
or combination of shares), (iii) consolidation or merger of the Company with or into another Person, (iv) sale of all or substantially
all of the Company’s assets to another Person or (v) other similar transaction (other than any such transaction covered
by Section 4(e)), in each case which entitles the holders of Common Stock to receive (either directly or upon subsequent liquidation)
stock, securities or assets with respect to or in exchange for Common Stock, each Warrant shall, immediately after such reorganization,
reclassification, consolidation, merger, sale or similar transaction, remain outstanding and shall thereafter, in lieu of or in
addition to (as the case may be) the number of Warrant Shares then exercisable under this Warrant, be exercisable for the kind
and number of shares of stock or other securities or assets of the Company or of the successor Person resulting from such transaction
to which the Holder would have been entitled upon such reorganization, reclassification, consolidation, merger, sale or similar
transaction if the Holder had exercised this Warrant in full immediately prior to the time of such reorganization, reclassification,
consolidation, merger, sale or similar transaction and acquired the applicable number of Warrant Shares then issuable hereunder
as a result of such exercise (without taking into account any limitations or restrictions on the exercisability of this Warrant);
and, in such case, appropriate adjustment (in form and substance satisfactory to the Holder) shall be made with respect to the
Holder’s rights under this Warrant to insure that the provisions of this Section 4 hereof shall thereafter be applicable,
as nearly as possible, to this Warrant in relation to any shares of stock, securities or assets thereafter acquirable upon exercise
of this Warrant (including, in the case of any consolidation, merger, sale or similar transaction in which the successor or purchasing
Person is other than the Company, an immediate adjustment in the Exercise Price to the value per share for the Common Stock reflected
by the terms of such consolidation, merger, sale or similar transaction, and a corresponding immediate adjustment to the number
of Warrant Shares acquirable upon exercise of this Warrant without regard to any limitations or restrictions on exercise, if the
value so reflected is less than the Exercise Price in effect immediately prior to such consolidation, merger, sale or similar
transaction). The provisions of this Section 4(f) shall similarly apply to successive reorganizations, reclassifications, consolidations,
mergers, sales or similar transactions. The Company shall not affect any such reorganization, reclassification, consolidation,
merger, sale or similar transaction unless, prior to the consummation thereof, the successor Person (if other than the Company)
resulting from such reorganization, reclassification, consolidation, merger, sale or similar transaction, shall assume, by written
instrument substantially similar in form and substance to this Warrant and satisfactory to the Holder, the obligation to deliver
to the Holder such shares of stock, securities or assets which, in accordance with the foregoing provisions, such Holder shall
be entitled to receive upon exercise of this Warrant. [Notwithstanding anything to the contrary contained herein, with respect
to any corporate event or other transaction contemplated by the provisions of this Section 4(f), the Holder shall have the right
to elect prior to the consummation of such event or transaction, to give effect to the exercise rights contained in Section 2
instead of giving effect to the provisions contained in this Section 4(f) with respect to this Warrant.]

 

    	 	12	 

    	 	 	 

    

 

(g)
Intentionally omitted.

 

(h)
Certificate as to Adjustment.

 

(i)
As promptly as reasonably practicable following any adjustment of the Exercise Price, but in any event not later than thirty (30)
Business Days thereafter, the Company shall furnish to the Holder a certificate of an executive officer setting forth in reasonable
detail such adjustment and the facts upon which it is based and certifying the calculation thereof.

 

(ii)
As promptly as reasonably practicable following the receipt by the Company of a written request by the Holder, but in any event
not later than thirty (30) Business Days thereafter, the Company shall furnish to the Holder a certificate of an executive officer
certifying the Exercise Price then in effect and the number of Warrant Shares or the amount, if any, of other shares of stock,
securities or assets then issuable upon exercise of the Warrant.

 

(i)
Notices. In the event:

 

(i)
that the Company shall take a record of the holders of its Common Stock (or other capital stock or securities at the time issuable
upon exercise of the Warrant) for the purpose of entitling or enabling them to receive any dividend or other distribution, to
vote at a meeting (or by written consent), to receive any right to subscribe for or purchase any shares of capital stock of any
class or any other securities, or to receive any other security; or

 

(ii)
of any capital reorganization of the Company, any reclassification of the Common Stock of the Company, any consolidation or merger
of the Company with or into another Person, or sale of all or substantially all of the Company’s assets to another Person;
or

 

    	 	13	 

    	 	 	 

    

 

(iii)
of the voluntary or involuntary dissolution, liquidation or winding-up of the Company;

 

then,
and in each such case, the Company shall send or cause to be sent to the Holder at least sixty (60) Business Days prior to the
applicable record date or the applicable expected effective date, as the case may be, for the event, a written notice specifying,
as the case may be, (A) the record date for such dividend, distribution, meeting or consent or other right or action, and a description
of such dividend, distribution or other right or action to be taken at such meeting or by written consent, or (B) the effective
date on which such reorganization, reclassification, consolidation, merger, sale, dissolution, liquidation or winding-up is proposed
to take place, and the date, if any is to be fixed, as of which the books of the Company shall close or a record shall be taken
with respect to which the holders of record of Common Stock (or such other capital stock or securities at the time issuable upon
exercise of the Warrant) shall be entitled to exchange their shares of Common Stock (or such other capital stock or securities)
for securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, sale, dissolution,
liquidation or winding-up, and the amount per share and character of such exchange applicable to the Warrant and the Warrant Shares.

 

5.
Purchase Rights.
In addition to any adjustments pursuant to Section 4 above, if at any time the Company grants, issues or sells any shares of Common
Stock, Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to the record
holders of Common Stock (the “Purchase Rights”), then the Holder shall be entitled to acquire, upon the terms
applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder would have acquired if the Holder had held
the number of Warrant Shares acquirable upon complete exercise of this Warrant immediately before the date on which a record is
taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record
holders of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights. Anything herein to the contrary
notwithstanding, the Holder shall not be entitled to the Purchase Rights granted herein with respect to any Excluded Issuance.

 

6.
Intentionally omitted.

 

7.
Transfer of Warrant.
Subject to the transfer conditions referred to in the legend endorsed hereon and the terms and conditions of the Stockholders
Agreement, this Warrant and all rights hereunder are transferable, in whole or in part, by the Holder without charge to the Holder,
upon surrender of this Warrant to the Company at its then principal executive offices with a properly completed and duly executed
Assignment in the form attached hereto as Exhibit B, together with funds sufficient to pay any transfer taxes described
in Section 3(f)(v) in connection with the making of such transfer. Upon such compliance, surrender and delivery and, if required,
such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees and in
the denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion
of this Warrant, if any, not so assigned and this Warrant shall promptly be cancelled.

 

    	 	14	 

    	 	 	 

    

 

8.
Holder Not Deemed a Stockholder; Limitations on Liability.
Except as otherwise specifically provided herein (including Section 4(d)(viii)), prior to the issuance to the Holder of the Warrant
Shares to which the Holder is then entitled to receive upon the due exercise of this Warrant, the Holder shall not be entitled
to vote or receive dividends or be deemed the holder of shares of capital stock of the Company for any purpose, nor shall anything
contained in this Warrant be construed to confer upon the Holder, as such, any of the rights of a stockholder of the Company or
any right to vote, give or withhold consent to any corporate action (whether any reorganization, issue of stock, reclassification
of stock, consolidation, merger, conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights,
or otherwise. 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. Notwithstanding this Section 8, the Company shall provide the Holder with copies
of the same notices and other information given to the stockholders of the Company generally, contemporaneously with the giving
thereof to the stockholders.

 

9.
Replacement on Loss; Division and Combination.

 

(a)
Replacement of Warrant on Loss. Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction
or mutilation of this Warrant and upon delivery of an indemnity reasonably satisfactory to it (it being understood that a written
indemnification agreement or affidavit of loss of the Holder shall be a sufficient indemnity) and, in case of mutilation, upon
surrender of such Warrant for cancellation to the Company, the Company at its own expense shall execute and deliver to the Holder,
in lieu hereof, a new Warrant of like tenor and exercisable for an equivalent number of Warrant Shares as the Warrant so lost,
stolen, mutilated or destroyed; provided, that, in the case of mutilation, no indemnity shall be required if this Warrant
in identifiable form is surrendered to the Company for cancellation.

 

(b)
Division and Combination of Warrant. Subject to compliance with the applicable provisions of this Warrant as to any transfer or
other assignment which may be involved in such division or combination, this Warrant may be divided or, following any such division
of this Warrant, subsequently combined with other Warrants, upon the surrender of this Warrant or Warrants to the Company at its
then principal executive offices, together with a written notice specifying the names and denominations in which new Warrants
are to be issued, signed by the respective Holders or their agents or attorneys. Subject to compliance with the applicable provisions
of this Warrant as to any transfer or assignment which may be involved in such division or combination, the Company shall at its
own expense execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants so surrendered in accordance
with such notice. Such new Warrant or Warrants shall be of like tenor to the surrendered Warrant or Warrants and shall be exercisable
in the aggregate for an equivalent number of Warrant Shares as the Warrant or Warrants so surrendered in accordance with such
notice.

 

10.
No Impairment.
The Company shall not, by amendment of its Articles of Incorporation or Bylaws, or through any reorganization, transfer of assets,
consolidation, merger, 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 to be observed or performed by it hereunder, but shall at all times in good faith assist in
the carrying out of all the provisions of this Warrant and in the taking of all such action as may reasonably be requested by
the Holder in order to protect the exercise rights of the Holder against dilution or other impairment, consistent with the tenor
and purpose of this Warrant.

 

    	 	15	 

    	 	 	 

    

 

11.
Compliance with the Securities Act.

 

(a)
Agreement to Comply with the Securities Act; Legend. The Holder, by acceptance of this Warrant, agrees to comply in all respects
with the provisions of this Section 11 and the restrictive legend requirements set forth on the face of this Warrant and further
agrees that such Holder shall not offer, sell or otherwise dispose of this Warrant or any Warrant Shares to be issued upon exercise
hereof except under circumstances that will not result in a violation of the Securities Act of 1933, as amended (the “Securities
Act”). This Warrant and all Warrant Shares issued upon exercise of this Warrant (unless registered under the Securities
Act) shall be stamped or imprinted with a legend in substantially the following form:

 

“THIS
WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “ACT”), OR QUALIFIED UNDER ANY STATE OR FOREIGN SECURITIES LAWS AND MAY NOT BE OFFERED FOR SALE,
SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR ASSIGNED UNLESS (I) A REGISTRATION STATEMENT COVERING SUCH SHARES IS EFFECTIVE
UNDER THE ACT AND IS QUALIFIED UNDER APPLICABLE STATE AND FOREIGN LAW OR (II) THE TRANSACTION IS EXEMPT FROM THE REGISTRATION
AND PROSPECTUS DELIVERY REQUIREMENTS UNDER THE ACT AND THE QUALIFICATION REQUIREMENTS UNDER APPLICABLE STATE AND FOREIGN LAW AND,
IF THE CORPORATION REQUESTS, AN OPINION SATISFACTORY TO THE CORPORATION TO SUCH EFFECT HAS BEEN RENDERED BY COUNSEL.”

 

(b)
Representations of the Holder. In connection with the issuance of this Warrant, the Holder specifically represents, as of the
date hereof, to the Company by acceptance of this Warrant as follows:

 

(i)
The Holder is an “accredited investor” as defined in Rule 501(a) of Regulation D promulgated under the Securities
Act. The Holder is acquiring this Warrant and the Warrant Shares to be issued upon exercise hereof for investment for its own
account and not with a view towards, or for resale in connection with, the public sale or distribution of this Warrant or the
Warrant Shares, except pursuant to sales registered or exempted under the Securities Act.

 

(ii)
The Holder understands and acknowledges that this Warrant and the Warrant Shares to be issued upon exercise hereof are “restricted
securities” under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not
involving a public offering and that, under such laws and applicable regulations, such securities may be resold without registration
under the Securities Act only in certain limited circumstances. In addition, the Holder represents that it is familiar with Rule
144 under the Securities Act, as presently in effect, and understands the resale limitations imposed thereby and by the Securities
Act.

 

    	 	16	 

    	 	 	 

    

 

(iii)
The Holder acknowledges that it can bear the economic and financial risk of its investment for an indefinite period and has such
knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment
in the Warrant and the Warrant Shares. The Holder has had an opportunity to ask questions and receive answers from the Company
regarding the terms and conditions of the offering of the Warrant and the business, properties, prospects and financial condition
of the Company.

 

12.
Warrant Register.
The Company shall keep and properly maintain at its principal executive offices books for the registration of the Warrant and
any transfers thereof. The Company may deem and treat the Person in whose name the Warrant is registered on such register as the
Holder thereof for all purposes, and the Company shall not be affected by any notice to the contrary, except any assignment, division,
combination or other transfer of the Warrant effected in accordance with the provisions of this Warrant.

 

13.
Notices. All notices, requests, consents,
claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed to have been given: (a) when
delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized
overnight courier (receipt requested); (c) on the date sent by facsimile or e-mail of a PDF document (with confirmation of transmission)
if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business hours of the
recipient; or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid.
Such communications must be sent to the respective parties at the addresses indicated below (or at such other address for a party
as shall be specified in a notice given in accordance with this Section 13).

 

	If
    to the Company:	TRAQIQ,
                                         INC.

        E-mail:
        ajay@traqiq.com

        Attention:
        Ajay Sikka

        

	 	 
	with
    a copy to:	HATELEY
                                         & HAMPTON

        Facsimile:
        (310) 388-5899

        E-mail:
        dhateley@hateleyhampton.com

        Attention:
        Donald P. Hateley

        

	 	 
	If
    to the Holder:	[HOLDER
                                         ADDRESS]

        Facsimile:
        [FAX NUMBER]

        E-mail:
        [E-MAIL ADDRESS]

        Attention:
        [TITLE OF OFFICER TO RECEIVE NOTICES]

        

	 	 
	with
    a copy to:	[HOLDER
                                         LAW FIRM]

        Facsimile:
        [FAX NUMBER]

        E-mail:
        [E-MAIL ADDRESS]

        Attention:
        [ATTORNEY NAME]

        

 

    	 	17	 

    	 	 	 

    

 

14.
Cumulative Remedies.
Except to the extent expressly provided in Section 8 to the contrary, the rights and remedies provided in this Warrant are cumulative
and are not exclusive of, and are in addition to and not in substitution for, any other rights or remedies available at law, in
equity or otherwise.

 

15.
Equitable Relief.
Each of the Company and the Holder acknowledges that a breach or threatened breach by such party of any of its obligations under
this Warrant would give rise to irreparable harm to the other party hereto for which monetary damages would not be an adequate
remedy and hereby agrees that in the event of a breach or a threatened breach by such party of any such obligations, the other
party hereto shall, in addition to any and all other rights and remedies that may be available to it in respect of such breach,
be entitled to equitable relief, including a restraining order, an injunction, specific performance and any other relief that
may be available from a court of competent jurisdiction.

 

16.
Entire Agreement.
This Warrant, together with the Stockholders Agreement and the Purchase Agreement, constitutes the sole and entire agreement of
the parties to this Warrant with respect to the subject matter contained herein, and supersedes all prior and contemporaneous
understandings and agreements, both written and oral, with respect to such subject matter. In the event of any inconsistency between
the statements in the body of this Warrant, the Stockholders Agreement and the Purchase Agreement, the statements in the body
of this Warrant shall control.

 

17.
Successor and Assigns.
This Warrant and the rights evidenced hereby shall be binding upon and shall inure to the benefit of the parties hereto and the
successors of the Company and the successors and permitted assigns of the Holder. Such successors and/or permitted assigns of
the Holder shall be deemed to be a Holder for all purposes hereunder.

 

18.
No Third-Party Beneficiaries.
This Warrant is for the sole benefit of the Company and the Holder and their respective successors and, in the case of the Holder,
permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person any legal or equitable
right, benefit or remedy of any nature whatsoever, under or by reason of this Warrant.

 

19.
Headings.
The headings in this Warrant are for reference only and shall not affect the interpretation of this Warrant.

 

20.
Amendment and Modification; Waiver.
Except as otherwise provided herein, this Warrant may only be amended, modified or supplemented by an agreement in writing signed
by each party hereto. No waiver by the Company or the Holder of any of the provisions hereof shall be effective unless explicitly
set forth in writing and signed by the party so waiving. No waiver by any party shall operate or be construed as a waiver in respect
of any failure, breach or default not expressly identified by such written waiver, whether of a similar or different character,
and whether occurring before or after that waiver. No failure to exercise, or delay in exercising, any rights, remedy, power or
privilege arising from this Warrant shall operate or be construed as a waiver thereof; nor shall any single or partial exercise
of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other
right, remedy, power or privilege.

 

    	 	18	 

    	 	 	 

    

 

21.
Severability.
If any term or provision of this Warrant is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality
or unenforceability shall not affect any other term or provision of this Warrant or invalidate or render unenforceable such term
or provision in any other jurisdiction.

 

22.
Governing Law.
This Warrant shall be governed by and construed in accordance with the internal laws of the State of California without giving
effect to any choice or conflict of law provision or rule (whether of the State of California or any other jurisdiction) that
would cause the application of laws of any jurisdiction other than those of the State of California.

 

23.
Submission to Jurisdiction.
Any legal suit, action or proceeding arising out of or based upon this Warrant or the transactions contemplated hereby may be
instituted in the federal courts of the United States of America or the courts of the State of California in each case located
in the city of Los Angeles and County of Los Angeles, and each party irrevocably submits to the exclusive jurisdiction of such
courts in any such suit, action or proceeding. Service of process, summons, notice or other document by certified or registered
mail to such party’s address set forth herein shall be effective service of process for any suit, action or other proceeding
brought in any such court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any suit,
action or any proceeding in such courts and irrevocably waive and agree not to plead or claim in any such court that any such
suit, action or proceeding brought in any such court has been brought in an inconvenient forum.

 

24.
Waiver of Jury Trial.
Each party acknowledges and agrees that any controversy which may arise under this Warrant is likely to involve complicated and
difficult issues and, therefore, each such party irrevocably and unconditionally waives any right it may have to a trial by jury
in respect of any legal action arising out of or relating to this Warrant or the transactions contemplated hereby.

 

25.
Counterparts.
This Warrant may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed
to be one and the same agreement. A signed copy of this Warrant delivered by facsimile, e-mail or other means of electronic transmission
shall be deemed to have the same legal effect as delivery of an original signed copy of this Warrant.

 

26.
No Strict Construction.
This Warrant shall be construed without regard to any presumption or rule requiring construction or interpretation against the
party drafting an instrument or causing any instrument to be drafted.

 

[signature
page follows]

 

    	 	19	 

    	 	 	 

    

 

IN
WITNESS WHEREOF, the Company has duly executed this Warrant on the Original Issue Date.

 

	 	TRAQIQ,
    INC.
	 	 	 
	 	By:
    	 
	 	Name:
    	Ajay
    Sikka
	 	Title:
    	CEO

 

	Accepted
    and agreed,	 
	 	 
	[HOLDER
    NAME]	 
	 	 
	By:
    	 	 
	Name:	       	 
	Title:	 	 

 

    	 	202050
MOTORS, INC.

 

LOCK-UP
AGREEMENT

 

THIS
LOCK-UP AGREEMENT (the “Agreement”) is made as of May 16, 2019 (the “Effective Date”) by
and between 2050 Motors, Inc., a California corporation (the “Company”) and the Stockholder (as defined below).

 

Overview

 

This
Agreement is intended to benefit all stockholders of the Company by providing for orderly sales of the Company’s stock in
the public market. This Agreement generally creates a blanket prohibition on the stockholder or related entities making any sales
of the Company’s stock or taking any actions that are economically similar to a sale, either directly or indirectly. This
Agreement then lists limited exceptions to this general rule, which are the types of sales, transfers and other economically similar
actions that a Stockholder is permitted to take, provided that various requirements are met.

 

Background
Information

 

	A.	The
    Stockholder is a private investor in the Company that currently owns two (2) million Series A Convertible Preferred Shares,
    four hundred thousand (400,000) Series B Convertible Preferred Shares, and one (1) million Series C Convertible Preferred
    Shares.
	 	 
	B.	The
    Company, through its board of directors and its control shareholder Vikram Grover, has unanimously agreed, that it is in the
    best interest of all shareholders of the Company that the Stockholder and the Company execute and deliver this Agreement,
    which describes certain of the rights and obligations of the Stockholder with respect to any shares of the Company’s
    stock, (the “Lock-Up Shares”), that are now held by the Stockholder.

 

ACCORDINGLY,
in consideration of the foregoing information and the mutual agreements herein and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.
One-Year Prohibition on Sales or Transfers. The Stockholder, including the Stockholder’s Affiliated Entities, hereby
agrees that for a period of one (1) year from the Effective Date (the “Lock-Up Period”), the Stockholder will
not offer, sell, contract to sell, pledge, give, donate, transfer or otherwise dispose of, directly or indirectly, any Lock-Up
Shares or securities or rights convertible into or exchangeable or exercisable for any Lock-Up Shares, enter into a transaction
which would have the same effect, or enter into any swap, hedge or other arrangement that transfers, in whole or in part, any
of the economic or voting consequences of ownership of such securities, whether any such aforementioned transaction is to be settled
by delivery of the Lock-Up Shares or such other securities, in cash or otherwise, or publicly disclose the intention to make any
such offer, sale, pledge or disposition, or to enter into any such transaction, swap, hedge or other arrangement (the “Lock-Up
Agreement”).

 

    	2050
                                         Motors Lock-Up Agreement - Page 1
                                         of 4

    	 

    

 

2.
Allowable Sales and Transfer During the Lock-Up Period. The Stockholder, including the Stockholder’s Affiliated Entities
may during the Lock-Up Period:

 

(a)
Transfer Lock-Up Shares to one of the Stockholder’s Affiliated Entities, so long as such Stockholder’s Affiliated
Entity agrees in an additional written instrument delivered to the Company to be subject to the terms and conditions of this Agreement.

 

(b)
Sell or otherwise Transfer Lock-Up Shares in a private placement transaction to any other person or entity; provided that such
transferee agrees in a written instrument delivered to the Company to hold such Lock-Up Shares subject to the terms and conditions
of this Agreement.

 

3.
Attempted Transfers. Any attempted or purported sale or other Transfer of any Lock-Up Shares by the Stockholder in violation
or contravention of the terms of this Agreement shall be null and void ab initio. The Company shall, and shall instruct
its transfer agent to, reject and refuse to transfer on its books any Lock-Up Shares that may have been attempted to be sold or
otherwise Transferred in violation or contravention of any of the provisions of this Agreement and shall not recognize any person
or entity holding any of the Lock-Up Shares as being a stockholder of the Company.

 

4.
Waiver of Claims. The Stockholder hereby irrevocably waives any and all known or unknown claims and rights, whether direct
or indirect, fixed or contingent, that the Stockholder may now have or that may hereafter arise against the Company or any of
its affiliates, or any of its respective officers, directors, stockholders, employees, agents, attorneys or advisors arising out
of the negotiation, documentation or operation of the Securities Purchase Agreement (“SPA”) or any other agreement
to which the Company and the Stockholder were party existing prior to the SPA or arising out of the negotiation and documentation
of this Lock-Up Agreement.

 

5.
Consent or Approval of Company. Whenever the waiver, consent or approval of the Company is required herein or is desired
to amend this Agreement or waive any requirement in this Agreement, such consent, approval, amendment or waiver may only be given
by the Company if and when approved by a majority of the Company’s then Board of Directors. Stockholder agrees to recuse
himself from any future Board votes regarding any waiver, consent or approval of the Company regarding this Lock-Up Agreement.
If Vikram Grover is the sole Director of the Company, no consent, approval, amendment or waiver may be executed regarding this
Lock-Up Agreement.

 

6.
Acknowledgement of Representation. The Stockholder represents and warrants to the Company that the Stockholder was or had
the opportunity to be represented by legal counsel and other advisors selected by Stockholder in connection with the Agreement.

 

7.
Legends on Certificates. All Purchased or Lock-Up Shares now or hereafter owned by the Stockholder, except any shares purchased
in open market transactions by Stockholders that are not affiliates (as such term is defined under securities laws) of the Company,
shall be subject to the provisions of this Agreement and the certificates representing such Purchased or Lock-Up Shares shall
bear the RESTRICTED CONTROL STOCK or similar legend and the following:

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD, ASSIGNED, PLEDGED OR OTHERWISE TRANSFERRED FOR VALUE UNLESS THEY ARE REGISTERED
UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR UNLESS THE CORPORATION RECEIVES AN OPINION OF COUNSEL SATISFACTORY TO
IT, OR OTHERWISE SATISFIES ITSELF, THAT AN EXEMPTION FROM REGISTRATION IS AVAILABLE.

 

THE
SALE, ASSIGNMENT, GIFT, BEQUEST, TRANSFER, DISTRIBUTION, PLEDGE, HYPOTHECATION OR OTHER ENCUMBRANCE OR DISPOSITION OF THE SHARES
REPRESENTED BY THIS CERTIFICATE IS RESTRICTED BY AND MAY BE MADE ONLY IN ACCORDANCE WITH THE TERMS OF A LOCK-UP AGREEMENT, A COPY
OF WHICH MAY BE EXAMINED AT THE OFFICE OF THE CORPORATION.

 

    	2050
                                         Motors Lock-Up Agreement - Page 2
                                         of 4

    	 

    

 

8.
Termination of Lock-Up Agreement. This Agreement shall terminate upon the earlier to occur of:

 

(a)
the execution of a written instrument to that effect by the Company and the Stockholder (or individual Stockholder entity) that
then owns the Lock-Up Shares, subject to Board approval as per section (5) above; or

 

(b)
the merger or consolidation of the Company with a corporation or other entity upon consummation of which the Stockholder and all
other persons or entities that are party to a lock-up agreement regarding the Company’s stock with terms substantially identical
to this Lock-Up Agreement immediately thereafter own in the aggregate less than 25% of the total voting power of the surviving
or resulting corporation.

 

9.
Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of California.

 

10.
Notices. Any notices and other communications given pursuant to this Agreement shall be in writing and shall be effective
upon delivery by hand or on the fifth (5th) day after deposit in the mail if sent by certified or registered mail (postage prepaid
and return receipt requested) or on the next business day if sent by a nationally recognized overnight courier service (appropriately
marked for overnight delivery) or upon transmission if sent by facsimile (with immediate electronic confirmation of receipt in
a manner customary for communications of such type). Notices are to be addressed as follows:

 

	If
    to the Company:	 
	 	 
	Registered
    Agents Inc,	 
	c/o
    2050 Motors, Inc.	 
	1267
    Willis St., STE 200	 
	Redding,
    CA 96001	 

 

If
to the Stockholder:

 

Address
of the Stockholder signing this Agreement as indicated in the Company’s records.

 

11.
Binding Effect. This Agreement will be binding upon and inure to the benefit of the Company, its successors and assigns
and to the Stockholder and their respective permitted heirs, personal representatives, successors and assigns.

 

    	2050
                                         Motors Lock-Up Agreement - Page 3
                                         of 4

    	 

    

 

12.
Entire Understanding. This Agreement sets forth the entire agreement and understanding of the parties hereto in respect
of the subject matter hereof and the transactions contemplated hereby and supersedes all prior written and oral agreements, arrangements
and understandings relating to the subject matter hereof. This Agreement may not be changed orally and may only be changed by
an agreement in writing signed by the party against whom enforcement of any waiver, change, modification or discharge is sought
and subject to Section (5) above.

 

13.
Remedies.

 

(a)
The parties hereto acknowledge that money damages are not an adequate remedy for violations of this Agreement and that any party
may, in such party’s sole discretion, apply to any court of competent jurisdiction for specific performance or injunctive
relief or such other relief as such court may deem just and proper in order to enforce this Agreement or prevent any violation
hereof and, to the extent permitted by applicable law, each party hereto waives any objection to the imposition of such relief.

 

(b)
All rights, powers and remedies provided under this Agreement or otherwise available in respect hereof, whether at law or in equity,
shall be cumulative and not alternative, and the exercise or beginning of the exercise of any thereof by any party hereto shall
not preclude the simultaneous or later exercise of any other such right, power or remedy by such party.

 

14.
Counterparts. This Agreement may be executed by facsimile and in any number of counterparts, each of which shall be deemed
to be an original, but all of which together shall constitute one and the same instrument. Each counterpart may consist of a number
of copies each signed by less than all, but together signed by all, of the parties hereto.

 

IN
WITNESS WHEREOF, this Agreement has been signed as of the date first above written.

 

	2050
    MOTORS, INC.	 
	a
    California Corporation	 
	 	 	 
	Signature:	 	 
	Name:	Vikram
    Grover	 
	Title:	President	 

 

	STOCKHOLDER:	 
	 	 	 
	Signature:	 	 
	Name:
    	Vikram
    Grover	 

 

    	2050
                                         Motors Lock-Up Agreement - Page 4
                                         of 4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00296-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00296-of-00352.parquet"}]]