Document:

Exhibit
10.3

 

EMPLOYMENT
AGREEMENT

 

THIS
AGREEMENT (“Agreement”) is made and entered into this 19th day of October 2020 by and between Ajay Sikka,
a resident of Issaquah, Washington (the “Executive”) and TraQiQ, Inc. (the “Corporation”), a California
corporation with its principal place of business in Bellevue, Washington. Collectively, the Corporation, including its subsidiaries,
and the Executive are referred to herein as the “Parties” and sometimes individually as a “Party.”

 

R
E C I T A L S:

 

	 	A.	Executive
    has substantial experience which the Corporation believes valuable in its business and that of certain of its subsidiaries; and
	 	 	 
	 	B.	Corporation
    desires to employ the Executive as an executive of the Corporation and such of its Subsidiaries as the Chief Executive Officer deems
    appropriate and the Executive desires to accept such employment; and
	 	 	 
	 	C.	Corporation
    desires to appoint Executive to serve as a Director on the Corporation’s and Subsidiaries’ Board of Directors, and Executive
    desires to so serve.

 

NOW
THEREFORE, in consideration of the promises, mutual covenants and agreements contained herein, the Corporation and the Executive do hereby
agree as follows:

 

1.
Employment and Duties. On the terms and subject to the job conditions set forth in this Agreement, the Corporation shall employ
the Executive as an executive officer of the corporation and such of its Subsidiaries as it believes appropriate and to perform such
duties as are consistent with such position as may be assigned, from time to time, by the Chief Executive Officer of the Corporation
and to render such additional services and discharge such other responsibilities as the Corporation or designated Subsidiary may, from
time to time, stipulate, including without limitation serving as president of such designated Subsidiary. The costs of salary, expenses,
options, benefits and bonus related to all work performed for a Subsidiary shall be allocated to that Subsidiary.

 

2.
Performance. The Executive accepts the employment described in Paragraph 1 of this Agreement and agrees to devote his business
time and efforts to the faithful and diligent performance of the services described therein, including the performance of such other
services and responsibilities as the Corporation may, from time to time, stipulate.

 

3.
Term. The term (“Term”) of employment under this Agreement shall commence on October 19, 2020 (the “Commencement
Date”) and shall continue until the fifth anniversary date following the Commencement Date and shall be automatically renewable
for successive one year periods, unless terminated as provided herein. The Term of employment shall terminate:

 

a.
after three years from the Commencement Date, if either Party gives more than thirty days prior written notice to the other Party that
it wishes to terminate this Agreement; and

 

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b.
immediately upon receipt of written notice for Just Cause or Good Reason.

 

For
purposes of this Agreement, the term “Just Cause” shall mean the occurrence of any one or more of the following events:
(i) the breach by the Executive of his covenants under this Agreement; (ii) the Executive’s refusal to perform, or his substantial
neglect of, the duties assigned to the Executive pursuant to Paragraph 1 hereof; (iii) the commission by the Executive of theft
or embezzlement of Corporation property or other acts of dishonesty; (iv) the commission by the Executive of a crime resulting in injury
to the business, property or reputation of the Corporation or any affiliate of the Corporation or commission of other significant activities
harmful to the business or reputation of the Corporation or any affiliate of the Corporation; (v) any significant violation of any statutory
or common law duty of loyalty to the Corporation; (vi) Executive’s neglect of his duties hereunder or his failure to devote the
time and attention to the Corporation’s business required herein; or (vii) Executive’s intentional violation of Corporation’s
rules, regulations, procedures or other policies.

 

For
purposes of this Agreement, the term “Good Reason” shall mean the occurrence of any one or more of the following events:
(i) the Corporation’s material breach of this Agreement; or (ii) a material change in Executive’s compensation and/or responsibilities
unless such change is agreed to in advance by Executive.

 

On
the effective date of termination of this Agreement for any reason, including, without limitation, the expiration of the Term, and regardless
of which Party effects the termination, the Executive shall return to the Corporation all Proprietary Information (as defined hereinafter),
and any other property belonging to the Corporation.

 

If
the Corporation terminates Executive’s employment without Just Cause or Executive terminates employment with Good Reason, Executive
shall be entitled to accrued but unpaid salary and benefits through the date of termination and shall receive a severance payment equal
to one-month’s current salary for each full year of employment, with a minimum severance payment of three (3) months and a maximum
of six (6) months’ pay; provided however, that Executive’s receipt of any severance payment shall be contingent on Executive
signing a separate agreement releasing all claims against the Corporation arising out of Executive’s employment. If Executive is
terminated for Just Cause or resigns without Good Reason, Executive shall be entitled only to salary and benefits accrued but unpaid
through the date of termination and shall receive no amount for severance.

 

4.
Compensation.

 

a.
Salary. During the Term, the Corporation shall pay the Executive a salary in the amount of Fifteen Thousand Dollars ($15,000)
per month.

 

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b.
Bonus. The Corporation’s Board of Directors retains the discretion to award to the Executive an annual bonus. The amount
of such bonus will be decided by the Board of Directors in its sole discretion..

 

c.
Stock Grant. The Corporation. shall grant 1,500,000 of stock options and milestone based stock options to Executive pursuant to
the Corporation’s Stock Option Plan at an exercise of $0.0055 / share. All options shall vest per the stock option plan adopted
by the Corporation.

 

d.
Expenses. The Corporation shall pay Executive’s out of pocket expenses provided such expenses are within the Corporation’s
guidelines. The Executive shall provide the Corporation with an expense report and such substantiating documents as the Corporation requests
from time to time.

 

5.
Benefits. In addition to the reimbursement of the ordinary out of pocket business expenses described in 4.d, above, the Executive
shall be eligible for such other benefits as are offered to other executives in similar positions on such terms as the Corporation shall
determine in its sole discretion which as of the current date includes an executive medical program which includes dental and vision
coverage.

 

6.
Location. The Executive shall perform the duties required of him at the office of TraQiQ, Inc. in the state of Washington and
such other locations as the Corporation may specify from time to time.

 

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7.
Confidentiality of Information; Duty of Non-Disclosure.

 

c.
The Executive acknowledges and agrees that his employment by the Corporation under this Agreement necessarily involves his understanding
of and access to certain trade secrets and confidential information pertaining to the business of the Corporation. Accordingly, the Executive
agrees that at all times after the date of this Agreement he will not, directly or indirectly, without the express permission of the
Corporation, disclose to or use for the benefit of any person, corporation or other entity, or for himself any and all files, trade secrets
or other confidential information concerning the internal affairs of the Corporation, including, but not limited to, information pertaining
to its clients, services, products, earnings, finances, manufacturing, operations, suppliers, including without limitation its overseas
network of suppliers and other relations, methods, distribution system or other activities (“Proprietary Information”);
provided, however, that the foregoing shall not apply to information which is of public record or is generally known, disclosed or available
to the general public or the industry generally. Further, the Executive agrees that he shall not, directly or indirectly, remove or retain,
without the express prior written consent of the Corporation, and upon termination of this Agreement for any reason shall return to the
Corporation, any figures, calculations, letters, papers, records, computer disks, computer print-outs, lists, documents, instruments,
drawings, designs, programs, brochures, sales literature, or any copies thereof, or any information or instruments derived therefrom,
or any other similar information of any type or description, however such information might be obtained or recorded, arising out of or
in any way relating to the business of the Corporation or obtained as a result of his employment by the Corporation. The Executive acknowledges
that all of the foregoing are proprietary information, and are the exclusive property of the Corporation. The covenants contained in
this Paragraph 7 shall survive the termination of Executive’s employment or this Agreement.

 

8.
Covenant Not to Compete.

 

a.
During Employment Period. During the Term, the Executive shall not, without the prior written consent of the Corporation, engage
in any other business activity for gain, profit, or other pecuniary advantage (excepting the investment of funds in such form or manner
as will not require any services on the part of the Executive in the operation of the affairs of the companies in which such investments
are made) or engage in or in any manner be connected or concerned, directly or indirectly, whether as an officer, director, stockholder,
partner, owner, Executive, creditor, or otherwise, with the operation, management, or conduct of any business that competes with or is
of a nature similar to that of the Corporation.

 

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b.
Following End of Term.

 

	 	(i)	For
    the purposes of this sub-section, the term “Involved Subsidiary” shall include: (1) any subsidiary of the Corporation
    with which Executive was actually employed; (2) any subsidiary of the Corporation for which Executive served on the Board of Directors;
    and (3) any subsidiary of the Corporation that possesses confidential information or has customers to which Executive had direct
    access during his employment. 
	 	 	 
	 	(ii)	Within
    the twelve (12) month period immediately following the termination of the Executive’s employment with the Corporation, regardless
    of the reason therefore, the Executive shall not, without the prior written consent of the Corporation, solicit, contact, interfere
    with, or divert any customer served by any Involved Subsidiary, or any prospective customer identified by or on behalf of any Involved
    Subsidiary, or any supplier to any Involved Subsidiary who was a supplier or prospective supplier during the Executive’s employment
    with the Corporation, wherever located. 
	 	 	 
	 	(iii)	In
    addition, during the twelve (12) month period immediately following the termination of the Executive’s employment with the
    Corporation, regardless of the reason therefore, the Executive shall not engage in or in any manner be connected or concerned, directly
    or indirectly, whether as an officer, director, stockholder, partner, owner, executive, creditor, or otherwise, with the operation,
    management, or conduct of any business that competes with or is of a nature similar to that of any Involved Subsidiary’s robotic
    activities and software systems integration activities without the prior written approval of the Corporation.
	 	 	 
	 	(iv)	In
    addition, during the twenty four (24) month period immediately following the termination of the Executive’s employment with
    the Corporation, regardless of the reason therefore, the Executive shall not engage in or in any manner be connected or concerned
    with any business activity, either as an employee, owner, consultant or any other activity involving a product or technology that
    Executive had initiated, or actively participated in while employed by the Corporation.

 

The
covenants contained in this Paragraph 8 shall survive the termination of Executive’s employment under this Agreement.

 

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9.
Severability. The Executive agrees and acknowledges that the Corporation does not have any adequate remedy at law for the breach
or threatened breach by the Executive of the covenants contained in Paragraphs 7 and 8 of this Agreement, and agrees that the
Corporation shall be entitled to injunctive relief to bar the Executive from such breach or threatened breach in addition to any other
remedies which may be available to the Corporation at law or in equity. The covenants of the Executive contained in Paragraphs 7 and
8 of this Agreement shall each be construed as an agreement independent of any other provision in this Agreement, and the existence
of any claim or cause of action of the Executive against the Corporation, whether predicated on this Agreement or otherwise, shall not
constitute a defense to the enforcement by the Corporation of such covenants. If any part of any covenant or other term of this Agreement
is determined by a court of law to be overly broad thereby making the covenant unenforceable, the parties hereto agree, and it is their
desire, that the court shall substitute a judicially enforceable limitation in its place, and that as so modified the covenant shall
be binding upon the parties as if originally set forth herein.

 

10.
Inventions, Designs, and Secrecy. Except as otherwise provided in this Section 10 , the Executive: (a) shall hold in a
fiduciary capacity for the benefit of the Corporation all secret or confidential information, knowledge, or data of the Corporation or
its business or production operations obtained by the Executive during his employment by the Corporation, which shall not be generally
known to the public or recognized as standard practice (whether or not developed by the Executive) and shall not, during his employment
by the Corporation and after the termination of such employment for any reason, communicate or divulge any such information, knowledge
or data to any person, firm or corporation other than the Corporation or persons, firms or corporations designated by the Corporation;
(b) shall promptly disclose to the Corporation all designs, inventions, software programs, ideas, devices, and processes made or conceived
by him alone or jointly with others, from the time of entering the Corporation’s employ until such employment is terminated, relevant
or pertinent in any way, whether directly or indirectly, to the Corporation’s business or production operations or resulting from
or suggested by any work which he may have done for the Corporation or at its request; (c) shall, at all times during employment with
the Corporation, assist the Corporation in every proper way (entirely at the Corporation’s expense) to obtain and develop for the
Corporation’s benefit patents or copyrights on such designs, software programs, inventions, ideas, devices and processes including
without limitation software code or software for use in the robotics industry, whether or not patented, trademarked, or copyrighted;
and (d) shall do all such acts and execute, acknowledge and deliver all such instruments as may be necessary or desirable in the opinion
of the Corporation to vest in the Corporation the entire interest in such designs, inventions, ideas, devices, and processes referred
to above. The foregoing to the contrary notwithstanding, the Executive shall not be required to assign or offer to assign to the Corporation
any of Executive’s rights in any design or invention for which no equipment, supplies, facility, or trade secret information of
the Corporation was used and which was developed entirely on the Executive’s own time, unless (a) the design or invention related
to (i) the business of the Corporation or (ii) the Corporation’s actual or demonstrably anticipated research or development, or
(b) the design, software or invention results from any work performed by the Executive for the Corporation. The Executive acknowledges
his prior receipt of written notification of the limitation set forth in the preceding sentence on the Executive’s obligation to
assign or offer to assign to the Corporation the Executive’s rights in designs and inventions.

 

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11.
Notice. All notices, demands, instructions and other communications required or permitted to be given to or made upon either Party
hereto or any other person shall be in writing and shall be personally delivered or sent by registered or certified mail, postage prepaid,
return receipt requested (with a copy by facsimile, if such Party has provided a facsimile number), or by a reputable courier delivery
service, or by telegram (with messenger delivery), or by facsimile (confirmed by mail), and shall be deemed to be given for purposes
of this Agreement on the day that such writing is delivered or sent to the intended recipient thereof in accordance with the provisions
of this Paragraph. Unless otherwise specified in a notice sent or delivered in accordance with the foregoing provisions of this Paragraph,
notices, demands, instructions and other communications in writing shall be given to or made upon the respective Parties hereto at the
following address:

 

To
the Corporation:

 

TraQiQ.

14205
S.E. 36th St., Suite 100

Bellevue,
WA 98006

Attention:
Mr. Ajay Sikka

asikka@TraQiQ.com

 

With
a copy to:

 

Alerding
Castor LLP

47
S. Pennsylvania St., Ste 700

Indianapolis,
IN 46204

Attn:
Brock L. Easton

beaston@alerdingcastor.com

 

To
the Executive:

 

Ajay
Sikka

4826
194th Avenue SE

Issaquah
WA 98027

ajays@live.com

 

Any
such notice shall be deemed effective on the tenth (10th) business day after its mailing.

 

12.
Transfer.

 

a.
The Corporation shall have the right in its discretion to freely assign or transfer its interests under this Agreement provided such
assignment or transfer is in connection with a sale of all or substantially all of its assets, if such assignee assumes all obligations
of the Corporation to the Executive arising under the provisions of this Agreement.

 

b.
This Agreement is personal to the Executive, and neither all nor any part of this Agreement directly or indirectly may be assigned or
transferred by the Executive without the Corporation’s prior written approval.

 

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13.
Miscellaneous.

 

a.
Controlling Law. This Agreement shall be governed by and interpreted, construed and enforced in accordance with the laws of the
United States of America and the State of Washington. The Parties acknowledge and agree that any dispute resolution regarding the Executive’s
employment shall be adjudicated in any County court located in Seattle, Washington USA, unless otherwise mutually agreed by the parties.

 

b.
Entire Agreement. This instrument contains the entire agreement of the Parties with respect to its subject matter and may not
be changed orally but only by an Agreement in writing signed by the Parties hereto.

 

c.
Failure to Enforce. The failure of either Party to enforce any of the provisions of this Agreement shall not be construed as a
waiver of such provisions. Further, any express waiver of a breach of any provision hereunder by any Party shall not constitute a waiver
of any prior or subsequent breach or of such Party’s right to fully enforce thereafter each and every provision of this Agreement.

 

d.
Headings. All numbers and heading of paragraphs and subparagraphs in this Agreement are for convenience of reference only and
are not intended to qualify, limit or otherwise affect the meaning or interpretation of this Agreement.

 

WHEREFORE,
the Parties have executed this Agreement as of the date and year first above written.

 

	EXECUTIVE:	 	CORPORATION:
		 	TraQiQ,
    Inc.
	 	 	 
	/s/
    Ajay Sikka	 	/s/
    Ajay Sikka
	Mr.
    Ajay Sikka 	 	Mr.
    Ajay Sikka

 

    	8Exhibit
10.7

 

THIS
NOTE AND THE COMMON STOCK ISSUABLE UPON CONVERSION OF THIS NOTE HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE UNITED STATES SECURITIES
AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER (THE “1933 ACT”)

 

US
$125,000.00

 

TRAQIQ,
INC.

12%
CONVERTIBLE REDEEMABLE NOTE

DUE
DECEMBER 28, 2021

 

FOR
VALUE RECEIVED, TRAQIQ, INC. (the “Company”) promises to pay to the order of GS CAPITAL PARTNERS, LLC and its authorized
successors and permitted assigns (“Holder”), the aggregate principal face amount of One Hundred Twenty-Five Thousand
Dollars exactly (U.S. $125,000.00) on December 28, 2021 (“Maturity Date”) and to pay interest on the principal amount
outstanding hereunder at the rate of 12% per annum commencing on December 28, 2020 (“Issuance Date”). This Note shall
contain an original issue discount of $10,000.00 such that the purchase price is $115,000.00. The Company shall make 7 monthly payments
of $20,000 each beginning on the fifth (5th) monthly anniversary of the Note with the final payment to include any principal
and interest remaining (if any). The interest will be paid to the Holder in whose name this Note is registered on the records of the
Company regarding registration and transfers of this Note. The principal of, and interest on, this Note are payable at 30 Washington
Street, Suite 5L, Brooklyn, NY 11201, initially, and if changed, last appearing on the records of the Company as designated in writing
by the Holder hereof from time to time. The Company will pay each interest payment and the outstanding principal due upon this Note before
or on the Maturity Date, less any amounts required by law to be deducted or withheld, to the Holder of this Note by check or wire transfer
addressed to such Holder at the last address appearing on the records of the Company. The forwarding of such check or wire transfer shall
constitute a payment of outstanding principal hereunder and shall satisfy and discharge the liability for principal on this Note to the
extent of the sum represented by such check or wire transfer. Interest shall be payable in Common Stock (as defined below) pursuant to
paragraph 4(b) herein.

 

This
Note is subject to the following additional provisions:

 

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

 

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

 

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

 

4.
(a) In an event of a payment default, which consists of the Company failing to make each of the seven monthly payments set forth on page
1, then the Holder of this Note is entitled, at its option, at any time after cash payment, to convert all or any amount of the principal
face amount of this Note then outstanding into shares of the Company’s common stock (the “Common Stock”) at
a price (“Conversion Price”) for each share of Common Stock equal to 66% of the lowest closing price
of the Common Stock as reported on the National Quotations Bureau OTC Marketplace exchange which the Company’s shares are
traded or any exchange upon which the Common Stock may be traded in the future (“Exchange”), for the twenty
prior trading days including the day upon which a Notice of Conversion is received by the Company or its transfer agent (provided
such Notice of Conversion is delivered by fax or other electronic method of communication to the Company or its transfer agent after
4 P.M. Eastern Standard or Daylight Savings Time if the Holder wishes to include the same day closing price). If the shares have not
been delivered within 3 business days, the Notice of Conversion may be rescinded. Such conversion shall be effectuated by the Company
delivering the shares of Common Stock to the Holder within 3 business days of receipt by the Company of the Notice of Conversion. Accrued
but unpaid interest shall be subject to conversion. No fractional shares or scrip representing fractions of shares will be issued on
conversion, but the number of shares issuable shall be rounded to the nearest whole share. To the extent the Conversion Price
of the Company’s Common Stock closes below the par value per share, the Company will take all steps necessary to solicit the consent
of the stockholders to reduce the par value to the lowest value possible under law. The Company agrees to honor all conversions submitted
pending this increase. In the event the Company experiences a DTC “Chill” on its shares, the Conversion Price shall be
decreased to 56% instead of 66% while that “Chill” is in effect. In no event shall the Holder be allowed to effect a
conversion if such conversion, along with all other shares of Company Common Stock beneficially owned by the Holder and its affiliates
would exceed 4.99% of the outstanding shares of the Common Stock of the Company (which may be increased up to 9.9% upon 60 days’
prior written notice by the Investor). The conversion discount, look back period and other terms will be adjusted on a ratchet basis
if the Company offers a more favorable conversion discount, interest rate, (whether through a straight discount or in combination with
an original issue discount), look back period or other more favorable term to another party for any financings while this Note is in
effect.

 

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  Initials

	 

     

    

 

(b)
Interest on any unpaid principal balance of this Note shall be paid at the rate of 12% per annum. Interest shall be paid by the Company
in Common Stock (“Interest Shares”). Holder may, at any time, send in a Notice of Conversion to the Company for Interest
Shares based on the formula provided in Section 4(a) above. The dollar amount converted into Interest Shares shall be all or a portion
of the accrued interest calculated on the unpaid principal balance of this Note to the date of such notice.

 

(c)
The Notes may be prepaid without penalty, provided that an Event of Default has not occurred.

 

(d)
Upon (i) a transfer of all or substantially all of the assets of the Company to any person in a single transaction or series of related
transactions, (ii) a reclassification, capital reorganization or other change or exchange of outstanding shares of the Common Stock,
other than a forward or reverse stock split or stock dividend, or (iii) any consolidation or merger of the Company with or into another
person or entity in which the Company is not the surviving entity (other than a merger which is effected solely to change the jurisdiction
of incorporation of the Company and results in a reclassification, conversion or exchange of outstanding shares of Common Stock solely
into shares of Common Stock) (each of items (i), (ii) and (iii) being referred to as a “Sale Event”), then, in each case,
the Company shall, upon request of the Holder, redeem this Note in cash for 150% of the principal amount, plus accrued but unpaid interest
through the date of redemption, or at the election of the Holder, such Holder may convert the unpaid principal amount of this Note (together
with the amount of accrued but unpaid interest) into shares of Common Stock immediately prior to such Sale Event at the Conversion Price.

 

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

 

5.
No provision of this Note shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal
of, and interest on, this Note at the time, place, and rate, and in the form, herein prescribed.

 

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6.
The Company hereby expressly waives demand and presentment for payment, notice of non-payment, protest, notice of protest, notice of
dishonor, notice of acceleration or intent to accelerate, and diligence in taking any action to collect amounts called for hereunder
and shall be directly and primarily liable for the payment of all sums owing and to be owing hereto.

 

7.
The Company agrees to pay all costs and expenses, including reasonable attorneys’ fees and expenses, which may be incurred by the
Holder in collecting any amount due under this Note.

 

8.
If one or more of the following described “Events of Default” shall occur:

 

(a)
The Company shall default in the payment of principal or interest on this Note or any other note issued to the Holder by the Company;
or

 

(b)
Any of the representations or warranties made by the Company herein or in any certificate or financial or other written statements heretofore
or hereafter furnished by or on behalf of the Company in connection with the execution and delivery of this Note, or the Securities Purchase
Agreement under which this note was issued shall be false or misleading in any respect; or

 

(c)
The Company shall fail to perform or observe, in any respect, any covenant, term, provision, condition, agreement or obligation of the
Company under this Note or any other note issued to the Holder; or

 

(d)
The Company shall (1) become insolvent; (2) admit in writing its inability to pay its debts generally as they mature; (3) make an assignment
for the benefit of creditors or commence proceedings for its dissolution; (4) apply for or consent to the appointment of a trustee, liquidator
or receiver for its or for a substantial part of its property or business; (5) file a petition for bankruptcy relief, consent to the
filing of such petition or have filed against it an involuntary petition for bankruptcy relief, all under federal or state laws as applicable;
or

 

(e)
A trustee, liquidator or receiver shall be appointed for the Company or for a substantial part of its property or business without its
consent and shall not be discharged within sixty (60) days after such appointment; or

 

(f)
Any governmental agency or any court of competent jurisdiction at the instance of any governmental agency shall assume custody or control
of the whole or any substantial portion of the properties or assets of the Company; or

 

(g)
One or more money judgments, writs or warrants of attachment, or similar process, in excess of fifty thousand dollars ($50,000) in the
aggregate, shall be entered or filed against the Company or any of its properties or other assets and shall remain unpaid, unvacated,
unbonded or unstayed for a period of fifteen (15) days or in any event later than five (5) days prior to the date of any proposed sale
thereunder; or

 

(h)
The Company shall have defaulted on or breached any term of any other note of similar debt instrument into which the Company has entered
and failed to cure such default within the appropriate grace period; or

 

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(i)
The Company shall have its Common Stock delisted from an exchange (including the OTC Market exchange) or, if the Common Stock trades
on an exchange, then trading in the Common Stock shall be suspended for more than 10 consecutive days or ceases to file its 1934 act
reports with the SEC;

 

(j)
If a majority of the members of the Board of Directors of the Company on the date hereof are no longer serving as members of the Board;

 

(k)
The Company shall not deliver to the Holder the Common Stock pursuant to paragraph 4 herein without restrictive legend within 3 business
days of its receipt of a Notice of Conversion; or

 

(l)
The Company shall not replenish the reserve set forth in Section 12, within 3 business days of the request of the Holder.

 

(m)
The Company shall not be “current” in its filings with the Securities and Exchange Commission; or

 

(n)
The Company shall lose the “bid” price for its stock and a market (including the OTC marketplace or other exchange)

 

Then,
or at any time thereafter, unless cured within 5 days, and in each and every such case, unless such Event of Default shall have been
waived in writing by the Holder (which waiver shall not be deemed to be a waiver of any subsequent default) at the option of the Holder
and in the Holder’s sole discretion, the Holder may consider this Note immediately due and payable, without presentment, demand,
protest or (further) notice of any kind (other than notice of acceleration), all of which are hereby expressly waived, anything herein
or in any note or other instruments contained to the contrary notwithstanding, and the Holder may immediately, and without expiration
of any period of grace, enforce any and all of the Holder’s rights and remedies provided herein or any other rights or remedies
afforded by law. Upon an Event of Default, interest shall accrue at a default interest rate of 24% per annum or, if such rate is usurious
or not permitted by current law, then at the highest rate of interest permitted by law. In the event of a breach of Section 8(k) the
penalty shall be $250 per day the shares are not issued beginning on the 4th day after the conversion notice was delivered
to the Company. This penalty shall increase to $500 per day beginning on the 10th day. The penalty for a breach of Section
8(n) shall be an increase of the outstanding principal amounts by 20%. In case of a breach of Section 8(i), the outstanding principal
due under this Note shall increase by 50%. If this Note is not paid at maturity, the outstanding principal due under this Note shall
increase by 15%. Further, if a breach of Section 8(m) occurs or is continuing after the 6 month anniversary of the Note, then the Holder
shall be entitled to use the lowest closing bid price during the delinquency period as a base price for the conversion. For example,
if the lowest closing bid price during the delinquency period is $0.01 per share and the conversion discount is 50% the Holder may elect
to convert future conversions at $0.005 per share.

 

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If
the Holder shall commence an action or proceeding to enforce any provisions of this Note, including, without limitation, engaging an
attorney, then if the Holder prevails in such action, the Holder shall be reimbursed by the Company for its attorneys’ fees and
other costs and expenses incurred in the investigation, preparation and prosecution of such action or proceeding.

 

9.
In case any provision of this Note is held by a court of competent jurisdiction to be excessive in scope or otherwise invalid or unenforceable,
such provision shall be adjusted rather than voided, if possible, so that it is enforceable to the maximum extent possible, and the validity
and enforceability of the remaining provisions of this Note will not in any way be affected or impaired thereby.

 

10.
Neither this Note nor any term hereof may be amended, waived, discharged or terminated other than by a written instrument signed by the
Company and the Holder.

 

11.
The Company represents that it is not a “shell” issuer and has never been a “shell” issuer or that if it previously
has been a “shell” issuer that at least 12 months have passed since the Company has reported form 10 type information indicating
it is no longer a “shell” issuer. Further. The Company will instruct its counsel to either (i) write a 144 opinion to allow
for salability of the conversion shares or (ii) accept such opinion from Holder’s counsel.

 

12.
The Company shall issue irrevocable transfer agent instructions reserving 1,010,001 shares of its Common Stock for conversions under
this Note (the “Share Reserve”). Upon full conversion of this Note, any shares remaining in the Share Reserve shall be cancelled.
The Company shall pay all transfer agent and legal opinion costs associated with issuing and delivering the share certificates to the
Holder, as well as maintaining the Share Reserve. If such amounts are to be paid by the Holder, it may deduct such amounts from the principal
amount being converted. The company should at all times reserve a minimum of four times the amount of shares required if the note would
be fully converted. The Holder may reasonably request increases from time to time to reserve such amounts. The Company will instruct
its transfer agent to provide the outstanding share information to the Holder in connection with its conversions.

 

13.
The Company will give the Holder direct notice of any corporate actions, including but not limited to name changes, stock splits, recapitalizations
etc. This notice shall be given to the Holder as soon as possible under law.

 

14.
If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law governing usury, the
applicable provision shall automatically be revised to equal the maximum rate of interest or other amount deemed interest permitted under
applicable law. The Company covenants (to the extent that it may lawfully do so) that it will not seek to claim or take advantage of
any law that would prohibit or forgive the Company from paying all or a portion of the principal or interest on this Note.

 

15.
This Note shall be governed by and construed in accordance with the laws of New York applicable to contracts made and wholly to be performed
within the State of New York and shall be binding upon the successors and assigns of each party hereto. The Holder and the Company hereby
mutually waive trial by jury and consent to exclusive jurisdiction and venue in the courts of the State of New York or in the Federal
courts sitting in the county or city of New York, or the Federal courts within the districts of
New York. This Agreement may be executed in counterparts, and the facsimile transmission of an executed counterpart to this Agreement
shall be effective as an original.

 

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IN
WITNESS WHEREOF, the Company has caused this Note to be duly executed by an officer thereunto duly authorized.

 

Dated:
January 19, 2021 

 

	 	TRAQIQ, INC.
	 	 	 
	 	By:
    	/s/
    Ajay Sikka
	 	 	Ajay
    Sikka
	 	 	 
	 	Title:	CEO

 

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EXHIBIT
A

 

NOTICE
OF CONVERSION

 

(To
be Executed by the Registered Holder in order to Convert the Note)

 

The
undersigned hereby irrevocably elects to convert $___________ of the above Note into _________ Shares of Common Stock of TRAQIQ, INC.
(“Shares”) according to the conditions set forth in such Note, as of the date written below.

 

If
Shares are to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer and other taxes and
charges payable with respect thereto.

 

Date
of Conversion: ________________________________________________________________

Applicable
Conversion Price: _________________________________________________________

Signature:________________________________________________________________________

[Print
Name of Holder and Title of Signer]

 

Address: ________________________________________________________________________

 ________________________________________________________________________

 

SSN
or EIN: _________________________

Shares
are to be registered in the following name: _________________________________________________

 

Name:______________________________________________________________

Address: ___________________________________________________________

Tel:
_______________________________________

Fax: _______________________________________

SSN
or EIN: _________________________________

 

Shares
are to be sent or delivered to the following account:

 

Account
Name: _______________________________________________________

Address:
____________________________________________________________

 

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