Document:

ex_411630.htm

Exhibit 10.1

 

April 19, 2022

 

 

Greg Tatem

greg@gregtatem.com

 

Dear Greg,

 

Congratulations! HyreCar Inc. (“HyreCar” or the “Company”) is pleased to present to you a conditional offer of employment as Chief Technology Officer starting May 23, 2022, if you accept our employment offer and satisfy all conditions outlined below.

 

You will be a part of the Technology Department reporting directly to the Chief Executive Officer (“CEO”). HyreCar’s general expectations and requirements for your position are outlined in the attached Job Description, however, your specific job duties may change at the discretion of the CEO. The terms and conditions of your employment will be governed by this letter, and established HyreCar policies and procedures, including those contained in HyreCar’s Employee Handbook. On the date of hire, you will be asked to review and comply with established HyreCar policies and procedures.

 

COMPENSATION AND HOURS.

 

Apartment & Travel Expense: In consideration of the travel and housing expense associated with acceptance of this offer, the Company will lease and reimburse for an apartment in downtown Los Angeles and weekly flights from the Bay Area to Los Angeles.

 

Base Salary: For all services rendered by you to the Company, the Company will pay you an annual base salary of Three Hundred Fifty Thousand Dollars ($350,000.00) (“Base Salary”), which will accrue and be payable in arrears in accordance with the Company’s general payroll practices and shall be subject to bi-annual review by the Board of Directors (the “Board”) and adjusted in the discretion of the Board based upon the Company’s performance and/or marketplace rates.

 

Equity Grant: In connection with entering into this offer letter, following the commencement of your employment with the Company, the Company will recommend to the Board of Directors that it grant you restricted stock units of 150,000 shares of the Company’s common stock (the “RSUs”), provided that you are employed by the Company on the date of grant. The RSU will be subject to the terms and conditions of the Company’s 2021 Equity Incentive Plan (the “Plan”) and a restricted stock unit agreement to be entered into between you and the Company and shall vest as follows: 25% of the RSUs shall vest on the twelve month anniversary of your Start Date, then the remaining RSUs shall vest in twelve (12) equal quarterly installments.

 

Annual Bonus: While you are employed, you will be eligible to receive a fiscal year-end bonus (the “Bonus”), less applicable taxes and withholding, as set forth on Exhibit A hereto. The Board will, in its good faith discretion, establish the performance goals for the annual Bonus. The Bonus shall be paid to you within thirty (30) days following the final determination by the Board of the amount thereof based upon the audited financial statements of the Company for the applicable year. The Board shall provide the written determination and method of calculation to you following the receipt by the Board of the audited financial statements of the Company for the applicable year.

 

	915 Wilshire Blvd. Suite 1950   	Los Angeles, CA 90017	www.hyrecar.com

 

 

 

 

Generally, you will be expected to work 8:30 a.m. to 6:00 p.m., Monday through Friday, however, your work schedule will fluctuate based on the HyreCar’s business needs. Your job duties may require that you work outside of these hours, including before and after the expected hours as set forth above. You acknowledge and agree that given your status as an “exempt” employee, as such term is defined under California and federal labor law, you will not be eligible for overtime pay.

 

BENEFITS. You are eligible for HyreCar’s benefits package which currently includes medical, dental, vision, and a 401(k) retirement plan, a detailed explanation of the benefits offered is provided in HyreCar handbook. In addition, you are eligible for HyreCar-paid benefits such as life insurance, and short and long-term disability, in accordance with eligibility as set forth by these policies. You will be eligible to start receiving these benefits on the first day of the month following your employment start date. More information regarding these benefits will be provided upon the start of your employment. Your eligibility for paid time off, paid holidays, and paid sick leave benefits is set forth in the HyreCar handbook. Currently, the Company observes 10 paid holidays per year and has an unlimited paid time off policy however, all such benefits are subject to change as set forth in HyreCar’s handbook.

 

AT WILL EMPLOYMENT. By accepting this offer, you acknowledge that your employment with HyreCar will be “at-will,” which means that it may be terminated by you or by HyreCar at any time, with or without notice, with or without cause. In addition, the terms of your employment, compensation, benefits, or privileges (excluding this at-will policy) may change at any time, without advance notice or consent at the sole discretion of HyreCar, to the extent permissible by law. Nothing in this Offer Letter is intended to change the at-will nature of employment or HyreCar’s right to modify the terms and conditions of your employment in its sole discretion, as allowed by law.

 

You also acknowledge that you are not resigning employment elsewhere, or relocating your residence, in reliance on any promise or representation by HyreCar regarding the kind, character or existence of work you will be assigned, or any expected length of your employment with HyreCar, other than the promises or representations expressly contained in this letter, the attached Job Description, and those contained in HyreCar’s handbook. The at-will nature of your employment may only be modified in writing signed by you and HyreCar’s CEO.

 

SEVERANCE. Although your employment is at-will, if your employment with HyreCar is terminated on or before May 23, 2023 by the Company for reasons other than Cause (as defined below) or by you for Good Reason (as defined below), subject to your execution, and non-revocation, of a release of claims in a form provided by HyreCar, you will be eligible for severance as follows: 50% of your current one year annual Base Salary.

 

	915 Wilshire Blvd. Suite 1950   	Los Angeles, CA 90017	www.hyrecar.com

 

 

 

 

For purposes of this Offer Letter, “Cause” shall mean:

 

(a)    your failure to perform your duties.

 

(b)    your failure to comply with any valid and legal directive of the CEO.

 

(c)    your engagement in dishonesty, illegal conduct, or misconduct, which is, in each case, injurious to the Company or its affiliates.

 

(d)    your embezzlement, misappropriation, or fraud, whether or not related to your employment with the Company.

 

(e)    your conviction of or plea of guilty or nolo contendere to a crime that constitutes a felony (or state law equivalent) or a crime that constitutes a misdemeanor involving moral turpitude.

 

(f)    your material violation of the Company’s policies contained in the Employee Handbook, including policies related to discrimination, harassment, performance of illegal or unethical activities and ethical misconduct.

 

(g)    your willful unauthorized disclosure of Confidential Information (as defined in the attached Proprietary Information and Invention Assignment Agreement);

 

(h)    your material breach of any material obligation in this Offer Letter or any other written agreement between you and the Company; or

 

(i)    your engagement in conduct that brings or is reasonably likely to bring the Company material negative publicity or into public disgrace, embarrassment, or disrepute.

 

For purposes of this Offer Letter, “Good Reason” shall mean the occurrence of any of the following, in each case on or before May 23, 2023, without your written consent:

 

(a)    a material reduction in your Base Salary other than a general reduction in Base Salary that affects all similarly situated executives in substantially the same proportions;

 

(b)    a material, adverse change in your title, authority, duties, or responsibilities (other than temporarily while you are physically or mentally incapacitated or as required by applicable law); or

 

(c)    a material, adverse change in the reporting structure applicable to you.

 

You agree that you cannot terminate your employment for Good Reason unless you have provided written notice to the Company of the existence of the circumstances providing grounds for termination for Good Reason within 30 days of the initial existence of such grounds and the Company has had at least 30 days from the date on which such notice is provided to cure such circumstances. If you do not terminate employment within 60 days after providing written notice, then you will be deemed to have waived the right to terminate for Good Reason with respect to such grounds.

 

	915 Wilshire Blvd. Suite 1950   	Los Angeles, CA 90017	www.hyrecar.com

 

 

 

 

CONDITIONS TO OFFER OF EMPLOYMENT. This offer of employment is subject to satisfaction of the conditions stated in the paragraphs below, and you should not give notice of resignation to your current employer until you have been notified by HyreCar that these conditions have been satisfied.

 

(1)    Background Check. All new employees of HyreCar must undergo a routine background check. Our offer is conditioned upon a satisfactory result from your background check, regardless of whether or not it is entirely completed before you start work with us. Prior to any background check being performed you will receive a detailed disclosure regarding the background check being procured by HyreCar, in conformity with all state and federal requirements. No background check will be procured until and unless you provide HyreCar your informed signed consent. As a reminder, however, a background check is required in order for you to commence your employment with HyreCar. Therefore, should you decline authorization for HyreCar to run a background check, HyreCar will not be able to continue with your hiring process.

 

(2)    Verification of References. In addition to the background check, HyreCar also requires satisfactory confirmation of your employment history, as listed in your Application for Employment. HyreCar may also perform a verification check of the personal references you listed. As with your background check, you will receive a detailed disclosure regarding the consumer report or investigative consumer report being procured by HyreCar, in conformity with all state and federal requirements. Verification of references will not be undertaken until and unless you provide HyreCar your informed signed consent.

 

(3)    Arbitration of Employment Disputes. HyreCar has a policy requiring arbitration of employment disputes. An Arbitration Agreement is attached to this letter for you to sign and return with your endorsed copy of this letter.

 

(4)    Proprietary Information and Invention Assignment Agreement. It is important for HyreCar to protect its proprietary information and intellectual property. For these reasons, you must sign and return the attached Proprietary Information and Invention Assignment Agreement with your endorsed copy of this letter.

 

(5)    Immigration Law Compliance. Pursuant to the Immigration and Nationality Act, HyreCar is required to verify the identity and employment authorization of all new hires. Under the law, employers are required to ask all new employees, including United States Citizens, to present certain documents that show their identity and authorization to work in the United States. You will need to present those documents on your first day or work. Should you wish to see the complete list of acceptable documents, or you anticipate having difficulty completing the I-9 or producing the required documents.

 

	915 Wilshire Blvd. Suite 1950   	Los Angeles, CA 90017	www.hyrecar.com

 

 

 

 

 

[remainder of page left intentionally blank]

 

 

 

 

 

	915 Wilshire Blvd. Suite 1950   	Los Angeles, CA 90017	www.hyrecar.com

 

 

 

 

If you accept our offer, please sign in the space indicated below and return it no later than April 22, 2022 to Joseph Furnari at joe@hyrecar.com.

 

On behalf of HyreCar, I want to thank you for your consideration of our offer of employment. We are looking forward to hearing from you in the very near future and look forward to having you join our team!

 

Sincerely,

 

/s/ Joe Furnari

 

Joe Furnari, CEO

HyreCar Inc.

 

 

	 	Agreed and accepted on this date:	4/19/2022	 

 

 

	 	By:	/s/ Greg Tatem
	 	 	Greg Tatem

 

 

	915 Wilshire Blvd. Suite 1950   	Los Angeles, CA 90017	www.hyrecar.com

 

 

 

 

JOB DESCRIPTION

 

As HyreCar’s Chief Technology Officer you will work to ensure the company has the right technology to contribute to daily business operations. You will work closely with Executives and IT personnel to remove outdated systems and replace them to maintain a competitive edge in the industry. You will also have the product managers reporting into you, and you will be responsible for defining the product strategy and product roadmap for the company. You will hire and train IT/Product Directors, Managers to oversee the IT and product departments and its employees. You will also be responsible for creating training programs to help employees adapt to new technology systems in their daily work environments.

 

	915 Wilshire Blvd. Suite 1950   	Los Angeles, CA 90017	www.hyrecar.com

 

 

 

 

EXHIBIT A

 

	
			Greg Tatem – HyreCar Inc.

			Annual Compensation Award

				 
	 	 
	
			2022 Base Salary

				
			$ 350,000

			
	
			2022 Cash Bonus

				
			$ 105,000

			
	
			2022 LTI*

				
			$ 100,000

			
	
			Total Target Compensation

				
			$ 555,000

			

 

*Target LTI grant will be based on reaching performance milestones agreed in Company Strategy Presentation Goals per executive and agreed by the Board. The vesting of grants will be agreed after year-end in early 2023 after review of company and performance targets. Target LTI grant will be calculated on grant date going forward and taxes will be deducted at grant date and shares minus minimum tax obligation will be granted into your Employee Share Account held at UBS. All shares subject to standard vesting per Company Share Plan and Trading Policy for which you must annually affirm you have read and understood.

 

COMPANY PERFORMANCE OBJECTIVES

All objectives will be measured for completion in 1Q 2023 for determination of grants and cash awards

 

[Omitted Performance Metrics]

 

 

CHIEF TECHNOLOGY OFFICER

All objectives will be measured for completion in 1Q 2023 for determination of grants and cash awards.

 

[Omitted Performance Metrics]

 

	915 Wilshire Blvd. Suite 1950   	Los Angeles, CA 90017	www.hyrecar.comex_411631.htm

Exhibit 10.2

 

CONFIDENTIAL TRANSITION AGREEMENT

 

THIS CONFIDENTIAL TRANSITION AGREEMENT (“Agreement”) is being entered into between HYRECAR INC., a Delaware corporation (the “Employer”), and KENNETH GRIMES (the “Employee”). The Employer and the Employee are collectively referred to as the “Parties” as of May 23, 2022 (the “Execution Date”).

 

RECITALS

 

WHEREAS, Employer employed Employee as a Chief Technology Officer, an at-will employee pursuant to the Letter Agreement, effective as of March 1, 2021, which includes certain restrictive covenants described in detail therein and attached hereto as Exhibit A (“Letter Agreement”); and

 

WHEREAS, the Parties have agreed to continue Employee’s employment from the Effective Date through the Separation Date (as defined below) for Employee to provide certain transition services (the “Transition Services”) to Employer (“Transition Period”); and

 

WHEREAS, in consideration of Employer’s agreement to offer employment through the Separation Date and agreement to compensate Employee and provide Employee other benefits as provided herein, Employee agrees to perform Employee’s duties in a manner satisfactory to Employer during the Transition Period.

 

NOW, THEREFORE, in consideration of the mutual covenants and conditions set forth herein, the sufficiency of which is hereby agreed to and acknowledged by the parties hereto, and intending to be legally bound, Employer and Employee agree as follows:

 

1.    Presentment Date; Effective Date. Employee agrees that from the date this Agreement was presented to Employee on May 20, 2022 (“Presentment Date”), Employee has until May 23, 2022 to accept the terms of this Agreement and deliver a signed Agreement to Employer, after which time, if Employee does not execute this Agreement, it shall become null and void. This Agreement shall become effective upon its full execution by the Parties (“Effective Date”).

 

2.    Transition Services. During the Transition Period, the Employee shall serve as a Special Advisor to the Employer’s executive team and perform the following Transition Services and any other services requested by the Employer’s Chief Financial Officer:

 

(a)    Employee shall transition all active technology and information technology projects to Employer’s newly elected Chief Technology Officer, Greg Tatem;

 

(b)    Employee shall actively assist in the growth and alignment of the technology team;

 

(c)    Employee shall actively participate in discussions regarding the future of the Employer’s Hyrecar platform (the “Platform”); and

 

 

 

 

(d)    Employee shall oversee and conduct any maintenance or remediation services necessary to keep the Platform operational during the Transition Period.

 

3.    Employee Compensation. During the Transition Period, so long as Employee remains employed by Employer, Employer shall continue to pay Employee his annual base salary of $200,000 (“Salary”), in accordance with the prevailing Employer payroll practices, and less all applicable federal, state and local taxes and other applicable withholdings. During the Transition Period, Employer shall also provide to Employee the same or substantially similar benefits that Employer provided to Employee immediately prior to the Effective Date.

 

4.    Employee Cooperation. Employee agrees to fully cooperate with Employer in all matters relating to the winding up of Employee’s work and performing related transition tasks as directed by Employer, which shall include, but not be limited to, during the entire Transition Period, being available to assist with transition matters.

 

5.    Separation Date. The Parties have agreed to terminate Employee’s employment on the earlier date of the following (“Separation Date”): (a) any termination pursuant to Section 5(b) below; or (b) July 1, 2022.

 

6.    Termination; Severance Payment. Subject to the provisions set forth in Section 4 regarding the Separation Date, the following applies to the termination of Employee:

 

(a)    Cause. For purposes of this Section, “Cause” shall mean Employee commission of any of the following: fraud; misappropriation of Employer’s funds or assets; embezzlement; theft; malfeasance; willful misconduct; willful failure to follow Employer’s rules and regulations; willful failure to perform job duties in a satisfactory manner; a breach of this Agreement; and the conviction of, or plea of guilty or no contest to, a felony or to any other crime involving moral turpitude. Employer shall provide Employee written notice of such termination, which shall be the applicable “Separation Date.”

 

(b)    Termination. During the Transition Period, Employer may terminate Employee’s employment for Cause, or the Parties may mutually agree in writing to terminate this Agreement, in which case such agreed upon date for mutual termination shall be the applicable “Separation Date.”

 

(c)    Compensation; Severance Benefits.

 

(i)    During the Transition Period Employee shall continue to be paid his Salary if, during the Transition Period, Employee (x) is not discharged for Cause; and (y) remains employed through July 1, 2022.

 

(ii)    After the Separation Date, Employee shall be entitled to severance of a stock bonus award issued pursuant to the Employer’s 2018 Equity Incentive Plan in the amount of 75,000 shares, to be vested, settled and transferred to Employee’s private brokerage account upon separation within five business days, provided that during the Transition Period Employee is (w) not discharged for Cause; (x) remains employed through July 1, 2022; (y) does not breach this Agreement; and (z) executes the Confidential Separation and General Release Agreement attached hereto as Exhibit B (“Separation Agreement”) on the applicable Separation Date. The Severance Benefits shall be paid in the manner set forth in the Separation Agreement.

 

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(iii)    In the event that Employee’s employment is terminated for any reason prior to July 1, 2022, or Employee is discharged for Cause, Employee shall not be entitled to the Severance Benefits or any further payments under Section 5(c) or otherwise.

 

7.    Non-Disparagement. Employee agrees that from the Presentment Date, Employee will not make any oral or written communication to any person or entity which disparages, or has the effect of damaging the reputation of, or otherwise working in any way to the detriment of, Employer, including, without limitation, its officers, shareholders, directors, or management. Nothing in this Section shall prevent Employee from giving truthful testimony or information to law enforcement entities, administrative agencies, or courts or in any other legal proceedings as required by law, including, but not limited to, assisting in an investigation or proceeding brought by any governmental or regulatory body. Additionally, nothing in this Agreement prevents Employee from discussing or disclosing information about unlawful acts in the workplace, such as harassment or discrimination or any other conduct that you have reason to believe is unlawful.

 

8.    Confidentiality of Terms. Employee represents and agrees that Employee will keep the terms, amount and fact of this Agreement completely confidential, and will not disclose, divulge or publicize, directly or indirectly, to any third party the terms and conditions of this Agreement except as may be necessary to establish or assert rights hereunder or as may be required by law or applicable regulation; provided, however, that such Employee may, on a confidential basis, disclose this Agreement to Employee’s spouse, financial advisors, and attorneys. Employee further agrees not to disclose the termination of Employee’s employment with Employer’s employees, customers, vendors and other business relationships of Employer, except as explicitly directed by Employer.

 

9.    Restrictive Covenants. Employee stipulates and acknowledges that Employee is still bound by the terms of Employee’s Letter Agreement, which remains in full force and effect and is not superseded or cancelled by this Agreement. Additionally, Employee stipulates and agrees to the following:

 

(a)    Acknowledgment

 

Employee understands and acknowledges that by virtue of Employee’s employment with the Employer, Employee has and will continue to have access to and knowledge of Confidential Information, was and remains in a position of trust and confidence with the Employer, and benefitted and will continue to benefit from the Employer’s goodwill. The Employee understands and acknowledges that the Employer invested significant time and expense in developing the Confidential Information and goodwill.

 

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Employee further understands and acknowledges that the restrictive covenants below are necessary to protect Employer’s legitimate business interests in its Confidential Information and goodwill. Employee further understands and acknowledges that Employer’s ability to reserve these for the exclusive knowledge and use of Employer is of great competitive importance and commercial value to Employer and that Employer would be irreparably harmed if Employee violates the restrictive covenants below.

 

(b)    Confidential Information

 

Employee understands and acknowledges that during the course of employment with Employer, Employee has had and will continue to have access to and learn about confidential, secret, and proprietary documents, materials, and other information, in tangible and intangible form, of and relating to Employer and its businesses and existing and prospective customers, suppliers, investors, and other associated third parties (“Confidential Information”). Employee further understands and acknowledges that this Confidential Information and Employer’s ability to reserve it for the exclusive knowledge and use of Employer is of great competitive importance and commercial value to Employer, and that improper use or disclosure of the Confidential Information by Employee may cause Employer to incur financial costs, loss of business advantage, liability under confidentiality agreements with third parties, civil damages, and criminal penalties.

 

For purposes of this Agreement, Confidential Information includes, but is not limited to, all information not generally known to the public, in spoken, printed, electronic, or any other form or medium, relating directly or indirectly to: business processes, practices, methods, policies, plans, publications, documents, research, operations, services, strategies, techniques, agreements, contracts, terms of agreements, transactions, potential transactions, negotiations, pending negotiations, know-how, trade secrets, computer programs, computer software, applications, operating systems, software design, web design, work-in-process, databases, device configurations, embedded data, compilations, metadata, algorithms, technologies, manuals, records, articles, systems, material, sources of material, supplier information, vendor information, financial information, results, accounting information, accounting records, legal information, marketing information, advertising information, pricing information, credit information, design information, payroll information, staffing information, personnel information, employee lists, supplier lists, vendor lists, developments, reports, internal controls, security procedures, graphics, drawings, sketches, market studies, sales information, revenue, costs, formulae, notes, communications, product plans, designs, styles, models, ideas, audiovisual programs, inventions, unpublished patent applications, original works of authorship, discoveries, experimental processes, experimental results, specifications, customer information, customer lists, client information, client lists, manufacturing information, factory lists, distributor lists, and buyer lists of Employer or its businesses or any existing or prospective customer, supplier, investor, or other associated third party, or of any other person or entity that has entrusted information to Employer in confidence.

 

Employee understands that the above list is not exhaustive, and that Confidential Information also includes other information that is marked or otherwise identified or treated as confidential or proprietary, or that would otherwise appear to a reasonable person to be confidential or proprietary in the context and circumstances in which the information is known or used.

 

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Employee understands and agrees that Confidential Information developed by Employee in the course of Employee’s employment by Employer is subject to the terms and conditions of this Agreement as if Employer furnished the same Confidential Information to Employee in the first instance. Confidential Information shall not include information that is generally available to and known by the public at the time of disclosure to Employee, provided that the disclosure is through no direct or indirect fault of Employee or person(s) acting on Employee’s behalf.

 

(c)    Disclosure and Use Restrictions.

 

(i)    Employee Covenants. Employee agrees and covenants:

 

(1)    to treat all Confidential Information as strictly confidential;

 

(2)    not to directly or indirectly disclose, publish, communicate, or make available Confidential Information, or allow it to be disclosed, published, communicated, or made available, in whole or part, to any entity or person whatsoever (including other employees of Employer) not having a need to know and authority to know and use the Confidential Information in connection with the business of Employer and, in any event, not to anyone outside of the direct employ of Employer except as required in the performance of any of Employee’s remaining authorized employment duties to the Employer or with the prior consent of an authorized officer acting on behalf of Employer in each instance (and then, such disclosure shall be made only within the limits and to the extent of such duties or consent); and

 

(3)    not to access or use any Confidential Information, and not to copy any documents, records, files, media, or other resources containing any Confidential Information, or remove any such documents, records, files, media, or other resources from the premises or control of Employer, except as allowed by applicable law, as required in the performance of any of Employee’s remaining authorized employment duties to Employer, or with the prior written consent of an authorized officer acting on behalf of Employer (and then, such disclosure shall be made only within the limits and to the extent of such law, duties, or consent).

 

Employee understands and acknowledges that Employee’s obligations under this Agreement regarding any particular Confidential Information begin immediately and shall continue during and after the Employee’s employment by the Employer until the Confidential Information has become public knowledge other than as a result of Employee’s breach of this Agreement or a breach by those acting in concert with Employee or on Employee’s behalf.

 

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(ii)    Permitted Disclosures. Nothing in this Agreement shall be construed to prevent disclosure of Confidential Information as may be required by applicable law or regulation, or pursuant to the valid order of a court of competent jurisdiction or an authorized government agency, provided that the disclosure does not exceed the extent of disclosure required by such law, regulation, or order. Employee shall promptly provide written notice of any such order to an authorized officer of Employer.

 

Nothing in this Agreement prohibits or restricts Employee (or Employee’s attorney) from initiating communications directly with, responding to an inquiry from, or providing testimony before the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), any other self-regulatory organization, or any other federal or state regulatory authority regarding this Agreement or its underlying facts or circumstances or a possible securities law violation.

 

(iii)    Notice of Immunity Under the Defend Trade Secrets Act of 2016. Notwithstanding any other provision of this Agreement:

 

(1)    Employee will not be held criminally or civilly liable under any federal or state trade secret law for any disclosure of a trade secret that is made: (1) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or (2) in a complaint or other document that is filed under seal in a lawsuit or other proceeding.

 

(2)    If Employee files a lawsuit for retaliation by Employer for reporting a suspected violation of law, Employee may disclose Employer’s trade secrets to Employee’s attorney and use the trade secret information in the court proceeding if Employee: (1) files any document containing the trade secret under seal; and (2) does not disclose the trade secret, except pursuant to court order.

 

(d)    Non-Solicitation of Employees

 

Employee understands and acknowledges that Employer has expended and continues to expend significant time and expense in recruiting and training its employees and that the loss of employees would cause significant and irreparable harm to Employer. Employee agrees and covenants not to disrupt or interfere with the business of Employer by directly or indirectly soliciting, recruiting, attempting to recruit, or raiding the employees of Employer of whom Employee became aware by working for Employer or otherwise inducing the termination of employment of any employee of the Employer of whom the Employee became aware by working for the Employer from now until two years following Employee’s Separation Date. Employee also agrees and covenants not to use any of Employee’s trade secrets and/or Confidential Information to directly or indirectly solicit the employees of Employer.

 

10.    Costs. Each Party hereto agrees that if either Party is held by any court of competent jurisdiction to be in violation, breach, or nonperformance of any of the terms of this Agreement, then such breaching Party shall pay all costs and expenses, including reasonable attorneys’ fees and expenses, incurred by the prevailing Party in such action, suit, or proceeding, or in any settlement or compromise of same.

 

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11.    Notice. All notices provided for in this Agreement shall be in writing and shall be given either (a) by electronic mail, provided confirmation of such notice is also sent by another means provided in this Section; (b) by personal delivery (in which cases such notice shall be deemed given on the date of delivery); (c) by next business day courier service (e.g., Federal Express, UPS, or other similar service) (in which case such notice shall be deemed given on the business day following date of deposit with the courier service); or (d) by United States mail, first class, postage prepaid, certified, return receipt requested (in which case such notice shall be deemed given on the third day following the date of deposit with the United States Postal Service).

 

12.    Severability. If any part of this Agreement is determined by a court of competent jurisdiction to be void, voidable, unlawful or unenforceable for any reason, such determination shall not affect the validity or enforceability of the remaining parts of this Agreement, which shall remain in full force and effect and the breach of any one provision of this Agreement shall not be construed to be a breach of any other provisions of this Agreement.

 

13.    Governing Law, Jurisdiction and Venue. This Agreement and all matters arising out of or relating to this Agreement and Employee’s employment or termination of employment with Employer, whether sounding in contract, tort, or statute, for all purposes shall be governed by and construed in accordance with the laws of California without regard to any conflicts of laws principles that would require the laws of any other jurisdiction to apply. Any action or proceeding by either of the Parties to enforce this Agreement shall be brought in any state or federal court located in the state of California, county of Los Angeles. The Parties irrevocably submit to the exclusive jurisdiction of these courts for such matters and waive the defense of inconvenient forum to the maintenance of any action or proceeding in such venue.

 

14.    Binding Upon Successors. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs, designees, successors and assigns, except as provided herein.

 

15.    Assignment. Employee may not assign his interest in this Agreement to any person without the prior written consent of Employer. Employer may assign this Agreement to any person that is a successor to the assets or business of Employer without Employee’s prior consent.

 

16.    No Admission. The Parties agree that neither this Agreement nor the furnishing of the consideration for this Agreement shall be deemed or construed at any time for any purpose as evidence of, or an admission by, either Employee, Employer, or the Released Parties of any liability or unlawful or improper conduct of any kind.

 

17.    Waivers. Waiver by Employer of any breach or violation of any provision of this Agreement shall not operate as or be construed to be a waiver of any subsequent breach thereof.

 

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18.    Entire Agreement. This Agreement and any exhibits attached hereto contain the entire understanding of the Parties concerning the subject matter hereof and no representations or inducements have been made or relied on by either Party except as set forth herein. This Agreement supersedes all prior agreements, commitments, representations, understandings, or negotiations, oral or written, and all other communications relating to the subject matter hereof, except to the extent that any provisions in the Letter Agreement that require or contemplate performance by either Party following the separation of Employee’s employment by Employer shall survive any such separation and shall remain in full force and effect. No amendment or modification of any provision of this Agreement will be effective unless set forth in a document that purports to amend this Agreement and is executed by all Parties hereto.

 

19.    Signatures. This Agreement may be signed in counterparts, each of which shall be deemed an original, but all of which, taken together shall constitute the same instrument. A signature made on a faxed or electronically mailed copy of the Agreement or a signature transmitted by facsimile or electronic mail will have the same effect as the original signature.

 

20.    Headings. The sections and other headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement.

 

[Remainder of the page intentionally blank; signature page follows]

 

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IN WITNESS WHEREOF, Employee has executed this Agreement and Employer has caused this Agreement to be executed by its duly authorized representatives.

 

 

 

	
			Kenneth Grimes (“EMPLOYEE”)

			

 

	
			Signature:

				/s/ Kenneth Grimes	 

 

	
			Date:

				5/23/2022	 

 

 

 

 

 

	
			HYRECAR INC. (“EMPLOYER”)

				 

 

	
			Signature:

				/s/ Serge De Bock	 

 

	
			Name: Serge De Bock

				 
	 	 
	Title: Chief Financial Officer	 

 

	Date:	5/23/2022	 

 

9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00347-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00347-of-00352.parquet"}]]