Document:

Exhibit 10.1

 

DIRECTOR SERVICES AGREEMENT 

 

This Director Services
Agreement (this “Agreement”), dated as of April 25, 2019 (the “Effective Date”), is entered
into by and between HYRECAR INC., a Delaware corporation (the “Company”), and JAYAPRAKASH VIJAYAN, an individual
(“Director”).

 

RECITALS

 

WHEREAS, the
Company desires to retain the services of Director for the benefit of the Company and its stockholders; and

 

WHEREAS, Director
desires to serve on the Company’s Board of Directors for the period of time and subject to the terms and conditions set forth
herein.

 

NOW, THEREFORE,
for valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

 

1. Board Duties.

 

(a) Director agrees to
provide services to the Company as a member of the Board of Directors as of the Effective Date. Director shall, for so long as
he remains a member of the Board of Directors, meet with the other members of the Board of Directors and/or the Company’s
executive officers upon request (including, but not limited to, quarterly meetings to take place either in-person at the Company’s
corporate offices or telephonically), at dates and times mutually agreeable to the parties, to discuss any matter involving the
Company (including any subsidiary). Director acknowledges and agrees that the Company may rely upon Director’s expertise
in business disciplines where Director has significant experience with respect to the Company’s business operations and that
such requests may require substantial additional time and efforts in addition to Director’s customary service as a member
of the Board of Directors.

 

(b) Director understands
that as a member of the Board of Directors he is bound by the duties of care, loyalty and good faith. As such, (i) Director may
not use Director’s position of trust and confidence to further Director’s private interests, (ii) Director must inform
himself of all material information reasonably available before voting on a transaction, and (iii) Director may act as a member
of the Board of Directors only for the purpose of advancing the best interests of the Company and all of its stockholders. Director
may not intentionally violate applicable law and may not consciously disregard Director’s duties to the Company (including
any subsidiary) and its stockholders. Membership on the Board of Directors shall require adherence to board member conduct policies
adopted by the Board of Directors and enforced equally upon all directors.

 

2. Compensation.
As compensation for the services provided herein, subject to the approval of the Company’s Board of Directors, the Director
shall receive non-qualified stock options to purchase up to 75,000 shares of the Company’s common stock, par value $0.00001
per share (the “Options”), and restricted stock units equivalent to 25,000 shares of the Company’s common
stock, par value $0.00001 per share (the “RSUs”), (subject to adjustment for any reverse or forward stock split)
issued under the Company’s 2018 Equity Incentive Plan (the “Plan”), in accordance with the terms of a
Stock Option Agreement in substantially the form attached hereto as Exhibit A. Subject to the terms of forfeiture, termination
and acceleration provided for in the Plan, the Options and the RSUs shall each vest over twenty four months (24) months in equal
quarterly installments. The Options shall have an exercise price of $5.53 per share.

 

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3. Reimbursement
of Expenses. The Company will reimburse Director for qualified business expenses incurred on behalf of the Company in discharging
Director’s duties as member of the Board of Directors, provided that any such expense in excess of $100 is approved in advance
by the Company’s Chief Executive Officer or Chief Financial Officer and provided further that Director shall provide the
Chief Financial Officer with reasonable substantiating documentation relating to such expenses prior to reimbursement. Upon the
conclusion of Director’s service hereunder, any property of the Company, including, without limitation, laptops, personal
computers and related equipment, used by Director may (if the Company agrees) be purchased by Director from the Company at its
then current fair market value, to be determined in good faith by the Chief Financial Officer of the Company, or returned to the
Company.

 

4. Non-Disparagement.
Director agrees to forbear from making, causing to be made, publishing, ratifying or endorsing any and all disparaging remarks,
derogatory statements or comments to any third party with respect to the Company and its affiliates, including, without limitation,
the Company’s subsidiaries (if any), officers, directors and employees (collectively, the “Company Parties”)
.. Further, Director hereby agrees to forbear from making any public or non-confidential statement with respect to any of the Company
Parties. The duties and obligations of this paragraph 4 shall continue following the termination of this Agreement.

 

5. Confidentiality.
Director agrees that Director will have access to and become acquainted with confidential proprietary information of the Company
and its subsidiaries (if any) (“Confidential Information”) which is owned by the Company and any subsidiary and is
regularly used in the operation of the Company’s and any subsidiary’s business. As used in this Agreement, the term
“Confidential Information” shall mean proprietary and non-public information of the Company including, but not limited
to: (i) information that has, or could have, commercial value for the business in which the Company or any of its subsidiaries
(if any) is engaged, or in which the Company or its subsidiaries (if any) may engage at a later time, and (ii) information that,
if disclosed without authorization, could be detrimental to the economic interests of the Company or any of its subsidiaries. Director
agrees that the term “Confidential Information” includes, without limitation, any patent, patent application, copyright,
trademark, trade name, service mark, service name, “know-how,” negative “know-how,” trade secrets, customer
and supplier identities, characteristics and terms of agreement, details of customer or consultant contracts, pricing policies,
operational methods, marketing plans or strategies, product development techniques or plans, business acquisitions plans, science
or technical information, ideas, discoveries, designs, computer programs (including source codes), financial forecasts, unpublished
financial information, budgets, processes, procedures, formulae, improvements or other proprietary or intellectual property of
the Company, whether or not in written or tangible form, and whether or not registered, and including all memoranda, notes, summaries,
plans, reports, records, documents and other evidence thereof. Director acknowledges that all Confidential Information, whether
prepared by Director or otherwise acquired by Director in any other way, shall remain the exclusive property of the Company. Director
promises and agrees that Director shall not misuse, misappropriate, or disclose in any way to any person or entity any of the Company’s
Confidential Information, either directly or indirectly, nor will Director use the Confidential Information in any way or at any
time except as required in the course of Director’s business relationship with the Company. Director agrees that the sale
or unauthorized use or disclosure of any of the Company’s Confidential Information constitutes unfair competition. Director
promises and agrees not to engage in any unfair competition with the Company and will take measures that are appropriate to prevent
its employees or contractors from engaging in unfair competition with the Company. Director further agrees that, at any time, upon
the request of the Company and without further compensation, but at no expense to Director, Director shall perform any lawful acts,
including the execution of papers and oaths and the giving of testimony, that in the opinion of the Company, its successors or
assigns, may be necessary or desirable in order to obtain, sustain, reissue and renew, and in order to enforce, perfect, record
and maintain, patent applications and United States and foreign patents on the Company’s or any of its subsidiaries’
inventions, and copyright registrations on the Company’s and its subsidiaries’ inventions. The duties and obligations
of this paragraph 5 shall continue, even after the termination of this Agreement.

 

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6. Term. Except
as otherwise provided herein, the term of this Agreement and the duties and obligations of Director and the Company under it shall
continue until the earlier of (i) the date that the Company’s stockholders fail to re-elect Director as a member of the Company’s
Board of Directors, including as a result of the failure by the Company to nominate Director as a candidate for election or (ii)
the date that Director ceases to be a member of the Company’s Board of Directors for any reason. Director may voluntarily
resign Director’s position on the Board of Directors at any time and such resignation shall not be considered a breach of
this Agreement.

 

7. Cooperation.
Director will notify the Company promptly if Director is subpoenaed or otherwise served with legal process in any matter involving
the Company or any subsidiary and will cooperate in the review, defense or prosecution of any such matter. Director will notify
the Company if any attorney who is not representing the Company contacts or attempts to contact Director (other than Director’s
own legal counsel) to obtain information that in any way relates to the Company or any subsidiary, and Director will not discuss
any of these matters with any such attorney without first so notifying the Company and providing the Company with an opportunity
to have its attorney present during any meeting or conversation with any such attorney. In the event of any claim or litigation
against the Company or Director based upon any alleged conduct, acts or omissions of Director during Director’s tenure as
a director of the Company, Director will provide to the Company such information and documents as are necessary and reasonably
requested by the Company or its counsel, subject to restrictions imposed by federal or state securities laws or court order or
injunction. The foregoing shall be subject to the terms and conditions of any indemnification agreement entered into between the
Company and Director, the terms and conditions of which shall govern and shall supersede this paragraph 7 in the event of
any conflict between this paragraph 7 and such indemnification agreement.

 

8. Entire Agreement.
This Agreement represents the entire agreement among the parties with respect to the subject matter herein.

 

9. Governing Law.
This Agreement shall be governed by the law of the State of Delaware, without regard to any conflicts of laws provisions. Any
action or proceeding arising out of or relating to this Agreement shall be filed in, heard and litigated solely before the state
or federal courts located within Los Angeles County, California. Each party generally and unconditionally accepts the exclusive
jurisdiction of such courts and venue therein. THE PARTIES HEREBY WAIVE THEIR RIGHTS TO A TRIAL BY JURY TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW.

 

10. Injunctive Relief.
It is agreed that the rights and benefits of the Company pursuant to Sections 1, 4, 5, 6 and 7 of this Agreement are unique and
that no adequate remedy exists at law if Director shall fail to perform, or breaches, any of Director’s obligations thereunder,
that it would be difficult to determine the amount of damages resulting therefrom, and that any such breach would cause irreparable
injury to the Company. Therefore, the Company shall be entitled to injunctive relief to prevent or restrain any such breach of
this Agreement by Director.

 

11. Insurance.
The Company shall use commercially reasonable efforts to maintain directors’ and officers’ liability insurance throughout
the term of Director’s service to the Company as a director, in amounts and with such carrier(s) and on such terms as determined
by the Board of Directors, or any committee of the Board of Directors empowered for such purpose.

 

[Signature page follows]

 

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In
witness whereof, the parties hereto enter into this Agreement as of the date first set forth above.

 

	 	COMPANY:
	 	 
	 	HYRECAR INC.
	 	 
	 	By:	/s/ Joseph Furnari
	 	Name:	Joseph Furnari
	 	Title:	Chief Executive Officer
	 	 
	 	DIRECTOR:
	 	 
	 	/s/ Jayaprakash Vijayan
	 	JAYAPRAKASH VIJAYAN

 

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EXHIBIT A

 

Form of Stock Option Agreement

 

[attached hereto]

 

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HYRECAR INC.

 

2018 EQUITY INCENTIVE PLAN 

 

STOCK OPTION AGREEMENT 

 

This Stock Option Agreement (this “Agreement”)
is made and entered into as of the date set forth on the signature page hereto by and between Hyrecar Inc, a Delaware corporation
(the “Company”), and the undersigned participant (“Participant”). Unless otherwise
defined herein, capitalized terms used herein shall have the same defined meanings as set forth in the Hyrecar Inc. 2018 Equity
Incentive Plan attached hereto as Exhibit A (the “Plan”). The plan and all agreements
thereunder are subject to the approval of the board of directors of the Company.

 

		I.	NOTICE
OF STOCK OPTION GRANT

 

Participant has been granted an option
to purchase Common Stock, subject to the terms and conditions of the Plan and this Agreement, as follows:

 

	Participant:	 	 
	Address:	 	 
	 	 	 

 

	 	 	 	 	 	 	 
	Grant Number:	 	 	 	 	 	 
	Grant Date:	 	 	 	 	 	 
	Vesting Commencement Date:	 	 	 	 	 	 
	Exercise Price per Share:	$ 	 	 	 	 	 
	Number of Shares Subject to Option: 	 	 	 	 	 	 
	Total Exercise Price:	 	 	 	 	 	 
	Type of Option:	 	ISO	 	NSO	 	 
	Term/Expiration Date:	 	 	 	 	 	, or earlier as provided in the Plan or this Agreement

 

Vesting Schedule; Accelerated Vesting: 

 

This Option shall become vested and exercisable,
in whole or in part, according to the following vesting schedule:   

 

Termination Period: 

 

This Option shall be exercisable for three
months after Participant ceases to be a service provider, unless such termination is due to Participant’s death or disability,
in which case this Option shall be exercisable for 12 months after Participant ceases to be a service provider. Notwithstanding
the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above, and this Option
may be subject to earlier termination as provided in the Plan.

 

		II.	AGREEMENT

 

1. Grant of Option. In consideration
of the services to be rendered by Participant to the Company or any Affiliate and subject to the terms and conditions of the Plan
and this Agreement, the Administrator hereby grants to Participant an option (this “Option”) to purchase
the number of Shares set forth in the Notice of Stock Option Grant in Part I of this Agreement, at the Exercise Price per Share
set forth in the Notice of Stock Option Grant in Part I of this Agreement (the “Exercise Price”).

 

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If designated as an ISO in the Notice of
Stock Option Grant in Part I of this Agreement, this Option is intended to qualify as an Incentive Stock Option; provided,
however, that, to the extent that the aggregate Fair Market Value (determined at the time of grant) of the Shares with respect
to which Incentive Stock Options are exercisable for the first time by Participant during any calendar year (under all plans of
the Company and any Affiliate) exceeds $100,000, such Options or portions thereof that exceed such limit (according to the order
in which they were granted) shall be treated as Nonstatutory Stock Options. Further, if for any reason this Option (or portion
thereof) shall not qualify as an Incentive Stock Option, then, to the extent of such nonqualification, this Option (or portion
thereof) shall be regarded as a Nonstatutory Stock Option. In no event shall the Administrator, the Company or any Affiliate, or
any of their respective employees or directors, have any liability to Participant (or any other Person) due to the failure of this
Option (or portion thereof) to qualify for any reason as an Incentive Stock Option.

 

2. Exercise of Option.

 

(a) Right to Exercise. This
Option shall be exercisable during its term in accordance with (i) the Vesting Schedule set out in the Notice of Stock Option Grant
in Part I of this Agreement and (ii) the applicable provisions of the Plan and this Agreement. This Option may not be exercised
for a fraction of a Share.

 

(b) Method of Exercise. This
Option shall be exercisable by delivery of an option exercise notice in the form attached hereto as Exhibit B (the
“Option Exercise Notice”) or in a manner and pursuant to such procedures as the Administrator may determine,
which shall state the election to exercise this Option, the whole number of Shares with respect to which this Option is being exercised,
and such other representations and agreements as may be required by the Company. If someone other than Participant exercises this
Option, as permitted by the Plan, then such Person must submit documentation reasonably acceptable to the Company verifying that
such Person has the legal right to exercise this Option. The Option Exercise Notice shall be accompanied by payment of the aggregate
Exercise Price as to all exercised Shares, together with any applicable tax withholding. This Option shall be deemed to be exercised
upon receipt by the Company of such fully executed Option Exercise Notice accompanied by the aggregate Exercise Price, together
with any applicable tax withholding.

 

3. Participant’s Representations.
If the Common Stock has not been registered under the Securities Act at the time this Option is exercised, Participant shall concurrently
with the exercise of all or any portion of this Option, if required by the Company, deliver to the Company Participant’s
Investment Representation Statement in the form attached hereto as Exhibit C.

 

4. Lock-Up Period. Participant
will not, during the period commencing on the date of the final prospectus relating to the registration by the Company for its
own behalf of shares of its Common Stock or any other equity securities under the Securities Act on a Form S-1 (excluding a registration
relating solely to employee benefit plans on Form S-1) or Form S-3 and ending on the date specified by the Company and the underwriter(s)
(such period not to exceed 180 days in the case of the Company’s IPO or 90 days in the case of any registration other than
the Company’s IPO, or such other period as may be requested by the Company or the underwriters to accommodate regulatory
restrictions on (i) the publication or other distribution of research reports and (ii) analyst recommendations and opinions, including
the restrictions contained in NASD Rule 2711(f)(4) or NYSE Rule 472(f)(4) (or any successor provisions or amendments thereto),
as applicable), (A) sell, dispose of, make any short sale of, offer, hypothecate, pledge, contract to sell, grant any option or
contract to purchase, purchase any option or contract to sell, grant any right or warrant to purchase, lend or otherwise transfer
or encumber, directly or indirectly, any Shares or other securities convertible into or exercisable or exchangeable (directly or
indirectly) for shares of Common Stock (whether such Shares or other securities are then held by Participant or thereafter acquired)
(such Shares and other securities, the “Lock-Up Shares”) or (B) enter into any swap, hedging or other
arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Lock-Up Shares.
The foregoing provisions of this Section II.4 shall not prevent the exercise of any repurchase option in favor of the Company or
apply to the sale of any Lock-Up Shares to an underwriter pursuant to an underwriting agreement or to the Transfer (as defined
in Section II.7) of any Lock-Up Shares by Participant to any trust for the direct or indirect benefit of Participant or an Immediate
Family Member (as defined in the Option Exercise Notice) of Participant (provided that the trustee of the trust agrees,
in writing, to be bound by the restrictions set forth herein and provided further that any such Transfer (as defined in
Section II.7) does not involve a disposition for value). Participant shall execute such documents as may be reasonably requested
by the Company or the underwriters in connection with any registered offering described in this Section II.4 and that are consistent
with this Section II.4 or necessary to give further effect thereto.

 

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5. Method of Payment. To
the extent permitted by Applicable Laws, payment of the aggregate Exercise Price as to all exercised Shares shall be by any of
the following methods, or a combination thereof, at Participant’s election:

 

(a) cash;

 

(b) check;

 

(c) surrender of other Shares which (i)
shall be valued at their Fair Market Value on the date of exercise and (ii) must be owned by Participant free and clear of any
liens, claims, encumbrances or security interests, if accepting such Shares, in the Administrator’s sole discretion, will
not result in any adverse accounting consequences to the Company; or

 

(d) consideration received by the Company
under a cashless exercise program (whether through a broker or otherwise) implemented by the Company in connection with the Plan.

 

Any fraction of a Share which would be
required to pay such aggregate Exercise Price shall be disregarded, and the remaining amount due shall be paid in cash by Participant.

 

6. Restrictions on Exercise.
This Option may not be exercised unless the issuance of Shares upon such exercise, or the method of payment of consideration for
such Shares, complies with Applicable Laws. Assuming such compliance, Shares shall be considered transferred to Participant, for
income tax purposes, on the date on which this Option is exercised with respect to such Shares.

 

7. Non-Transferability of Option.
This Option (or, prior to exercise, the Shares subject to this Option) may not be sold, pledged, assigned, hypothecated or otherwise
transferred in any manner, including by entering into any short position, any “put equivalent position”
or any “call equivalent position” (as defined in Rule 16a-1(h) and Rule 16a-1(b), respectively, of the
Exchange Act), whether by operation of law or otherwise (“Transfer”), other than by will or by the laws
of descent and distribution, and may be exercised, during the lifetime of Participant, only by Participant. The terms of the Plan
and this Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of Participant.

 

8. Term of Option. This Option
may be exercised only (i) within the term set out in the Notice of Stock Option Grant in Part I of this Agreement and (ii) in accordance
with the terms and conditions of the Plan and this Agreement.

 

9. Tax Obligations.

 

(a) Tax Withholding. Participant
agrees to make appropriate arrangements satisfactory to the Company to pay or provide for the satisfaction of all federal, state,
local, foreign and other taxes (including Participant’s FICA obligation) required to be withheld with respect to the exercise
of this Option. Participant acknowledges and agrees that the Company may refuse to honor the exercise of this Option, and refuse
to deliver the Shares, if such withholding amounts are not delivered by Participant at the time of exercise.

 

(b) Notice of Disqualifying Disposition
of ISO Shares. If this Option is an Incentive Stock Option, and if Participant makes a “disposition” (as defined
in Section 424 of the Code) of all or any portion of the Shares acquired upon exercise of this Option within two years from the
Grant Date set out in the Notice of Stock Option Grant in Part I of this Agreement or within one year after issuance of the Shares
acquired upon exercise of this Option, then Participant shall immediately notify the Company in writing as to the occurrence of,
and the price realized upon, such disposition. Participant agrees that Participant may be subject to income tax withholding by
the Company on the compensation income recognized by Participant.

 

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(c) Section 409A of the Code.
Under Section 409A of the Code, an Option that was granted with a per Share exercise price that is determined by the U.S. Internal
Revenue Service (the “IRS”) to be less than the Fair Market Value of a Share on the date of grant (a
“discount option”) may be considered “deferred compensation.” An Option that
is a “discount option” may result in (i) income recognition by Participant prior to the exercise of this
Option, (ii) an additional 20% federal income tax, (iii) potential penalty and interest charges, and (iv) additional state income,
penalty and interest tax to Participant (collectively, “409A Penalties”). Participant acknowledges that
the Company cannot guarantee, and has not guaranteed, that the IRS will agree, in a later examination, that the per Share exercise
price of this Option equals or exceeds the Fair Market Value of a Share on the date of grant. Participant agrees that, if the IRS
determines that this Option is a “discount option,” Participant shall be solely responsible for Participant’s
costs related to such a determination, including any 409A Penalties.

 

10. General Provisions.

 

(a) Power and Authority.
Participant hereby represents to the Company that

 

(i) Participant has full power and authority
and legal capacity to enter into, execute and deliver this Agreement and to perform fully Participant’s obligations hereunder,
(ii) the execution, delivery and performance of this Agreement by Participant does not conflict with, constitute a breach of or
violate any arrangement, understanding or agreement to which Participant is a party or by which Participant is bound, and (iii)
this Agreement has been duly and validly executed and delivered by Participant and constitutes the legal, valid and binding obligation
of Participant, enforceable against Participant in accordance with its terms.

 

(b) Survival. The representations,
warranties, covenants and agreements made in or pursuant to this Agreement shall survive the execution and delivery hereof and
shall not be affected by any investigation made by or on behalf of any party hereto.

 

(c) Governing Law. This Agreement
shall be governed by and construed in accordance with the laws of the State of California without regard to conflict-of-law principles.

 

(d) Entire Agreement. This
Agreement, together with the attached Exhibits, sets forth the entire agreement and understanding between the parties hereto relating
to the subject matter hereof and supersedes all prior and contemporaneous understandings, agreements, discussions, representations
and warranties, both written and oral, between the parties hereto, including any representations made during any interviews or
relocation negotiations, with respect to such subject matter. In the event of a conflict between the terms and conditions of the
Plan and this Agreement, the terms and conditions of the Plan shall prevail.

 

(e) Notices. All notices
or other communications required or permitted hereunder shall be in writing and shall be deemed given or delivered (i) when delivered
personally, (ii) one business day after being deposited with an overnight courier service (costs prepaid), (iii) when sent by facsimile
or e-mail if sent during normal business hours and on the next business day if sent after normal business hours, in each case with
confirmation of transmission by the transmitting equipment, or (iv) when received or rejected by the addressee, if sent by certified
mail, return receipt requested, postage prepaid, in each case to the addresses, facsimile numbers or e-mail addresses and marked
to the attention of the persons designated (by name or title) on the signature page hereto, as applicable, or to such other address,
facsimile number, e-mail address or person as such party may designate by a notice delivered to the other party hereto.

 

(f) Successors and Assigns; Transfers.
The Company may assign this Agreement, and its rights and obligations hereunder, in whole or in part, to any successor or assign
(whether direct or indirect, by purchase, merger, consolidation, sale of assets or stock or otherwise). Except as set forth herein,
(x) neither this Agreement nor any rights, duties and obligations hereunder shall be assigned, transferred, delegated or sublicensed
by Participant without the Company’s prior written consent and (y) any attempt by Participant to assign, transfer, delegate
or sublicense this Agreement or any rights, duties or obligations hereunder, without the Company’s prior written consent,
shall be void. Subject to any restrictions on transfer set forth herein, this Agreement shall be binding upon, and enforceable
against, (i) the Company and its successors and assigns and (ii) Participant and his or her heirs, executors, successors, assigns,
administrators and other legal representatives. Except as set forth herein, any transfer in violation of any restriction upon transfer
contained in any provision hereof shall be void, unless such restriction is waived in accordance with the terms hereof.

 

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(g) Modification and Waiver.
This Agreement may not be amended, modified or supplemented except by a written instrument signed by an authorized representative
of each party hereto. Any term or provision hereof may be waived, or the time for its performance may be extended, by the party
or parties entitled to the benefit thereof. Any such waiver or extension shall be validly and sufficiently authorized for the purposes
hereof if, as to any party, it is authorized in writing by an authorized representative of such party. The failure or delay of
any party to enforce at any time any provision hereof shall not be construed to be a waiver of such provision, nor in any way to
affect the validity of this Agreement or any part hereof or the right of any party thereafter to enforce each and every such provision.
No waiver of any breach hereof shall be held to constitute a waiver of any other or subsequent breach.

 

(h) Further Assurances. Participant
shall execute and deliver such additional documents, instruments, conveyances and assurances and take such further actions as may
reasonably be necessary or desirable in the view of the Company to carry out the purposes or intent hereof, including the applicable
Exhibits attached hereto.

 

(i) Severability. Should
any provision contained herein be held as invalid, illegal or unenforceable, such holding shall not affect the validity of the
remainder of this Agreement, the balance of which shall continue to be binding upon the parties with any such modification to become
a part hereof and treated as though originally set forth herein.

 

(j) Interpretation. For purposes
of this Agreement, (i) the words “include,” “includes” and “including” shall be deemed to be
followed by the words “without limitation,” (ii) the word “or” is not exclusive, (iii) the words “herein,”
“hereof,” “hereby,” “hereto,” “hereunder” and words of similar import refer to
this Agreement as a whole, and (iv) with respect to the determination of any period of time, “from” means “from
and including” and “to” means “to but excluding.” Unless the context otherwise requires, references
herein: (A) to a Section or an Exhibit mean a Section or an Exhibit of, or attached to, this Agreement; (B) to agreements, instruments
and other documents shall be deemed to include all subsequent amendments, supplements and other modifications thereto; (C) to statutes
or regulations are to be construed as including all statutory and regulatory provisions consolidating, amending or replacing the
statute or regulation referred to; (D) to any Person includes such Person’s successors and assigns, but, if applicable, only
if such successors and assigns are not prohibited by this Agreement; and (E) to any gender includes each other gender. The Exhibits
attached hereto shall be construed with, and as an integral part of, this Agreement to the same extent as if they were set forth
verbatim herein. The titles, captions and headings herein are for convenience of reference only and shall not affect the meaning
or interpretation hereof. This Agreement 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.

 

(k) Counterparts. This Agreement
may be executed in counterparts, each of which shall be considered an original, but all of which, when taken together, shall be
considered one and the same agreement, and shall become binding when one or more counterparts have been signed by each party hereto
and delivered to the other party hereto. Delivery of an executed counterpart of a signature page to this Agreement shall be as
effective as delivery of a manually executed counterpart of this Agreement. The exchange of copies of this Agreement and of signature
pages hereto by facsimile transmission or e-mail shall constitute effective execution and delivery of this Agreement and may be
used in lieu of the original Agreement for all purposes. Signatures transmitted by facsimile or e-mail shall be deemed to be original
signatures for all purposes.

 

(l) Service Relationship At Will.
Participant acknowledges and agrees that the vesting of this Option pursuant hereto is earned only by his or her continuing
service as a service provider at will (and not through the act of being hired, being granted this Option or acquiring Shares hereunder).
Participant further acknowledges and agrees that this Agreement, the transactions contemplated hereby and the vesting schedule
set forth herein do not constitute an express or implied promise of continued engagement as a service provider for the vesting
period, or for any period at all, and shall not interfere with the right of either the Company or Participant to terminate Participant’s
relationship as a service provider at any time, with or without cause or notice.

 

(m) Third Party Beneficiary Rights.
No provisions hereof are intended, nor shall be interpreted, to provide or create any third party beneficiary rights or any other
rights of any kind in any client, customer, affiliate, stockholder, partner or employee of any party hereto or any other Person,
unless specifically provided otherwise herein; provided, however, that Section II.4 is intended to benefit the underwriters
for any registered offering described in Section II.4, and such underwriters shall have the right, power and authority to enforce
the provisions of Section II.4 as though they were parties hereto.

 

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(n) Adjustments. In
the event of any dividend or other distribution (whether in the form of cash, Shares, other securities or other property), recapitalization,
reincorporation, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, reclassification,
repurchase or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company
affecting the Shares, the Administrator will appropriately adjust the number, class and price of Shares subject to this Option,
with such adjustment to be made in accordance with Section 409A of the Code.

 

(o) No Impact on Other Benefits.
The value of this Option is not part of Participant’s normal or expected compensation for purposes of calculating any
severance, retirement, welfare, insurance or similar employee benefit.

 

(p) Acceptance. Participant
acknowledges receipt of a copy of the Plan and represents that he or she is familiar with the terms and provisions thereof and
hereby accepts this Option subject to all of the terms and provisions of the Plan and this Agreement (including all Exhibits attached
hereto). Participant has reviewed, and fully understands all provisions of, the Plan and this Agreement in their entirety (including
all Exhibits attached hereto) and has had an opportunity to obtain the advice of his or her own legal counsel, tax advisors and
other advisors prior to executing this Agreement. Any questions or disputes regarding the interpretation of the Plan or this Agreement
(including all Exhibits attached hereto), or arising hereunder or thereunder, shall be submitted by the Company or Participant
to the Administrator, and Participant hereby agrees to accept as final, binding and conclusive all decisions, determinations and
interpretations of the Administrator upon any such questions or disputes.

 

(q) Equitable Relief.
In the event of a breach or threatened breach by Participant of any provision hereof, Participant hereby consents and agrees
that the Company may seek, in addition to other available remedies, injunctive or other equitable relief from any court of competent
jurisdiction, without the necessity of showing any actual damages or that money damages would not afford an adequate remedy, and
without the necessity of posting any bond or other security. Participant understands that any breach or threatened breach of this
Agreement will cause irreparable injury and that money damages will not provide an adequate remedy therefor, and Participant hereby
consents to the issuance of an injunction or other equitable relief. The aforementioned equitable relief shall be in addition to,
and not in lieu of, legal remedies, monetary damages or other available forms of relief.

 

(signature page follows) 

  

    -11-

     

    

 

IN WITNESS WHEREOF,
the undersigned have executed this Stock Option Agreement as of April 25, 2019.

 

	COMPANY	 
	 	 
	HyreCar Inc.	 
	 	 
	By:	                  	 
	Name:	 
	Title:	 
	Notice Address: 355 South Grand Avenue, Suite 1650
	Los Angeles, California 90071	 
	 	 
	Facsimile:	 
	E-mail:	 
	Attention:	 
	 	 
	PARTICIPANT	 
	 	 
	 	 
	 	 
	Name:	 

 

	Notice Address:	 	 
	 	 	 
	 	 	 

 

Facsimile:

E-mail:

Attention:

 

Exhibits: 

 

A – 2018 Equity Incentive Plan

B – Option Exercise Notice

 

[Signature Page to Stock Option Agreement]

 

    -12-

     

    

 

EXHIBIT A 

 

HYRECAR INC

 

2018 EQUITY INCENTIVE PLAN 

 

    -13-

     

    

  

EXHIBIT B

 

OPTION EXERCISE NOTICE 

 

HyreCar Inc.

355 South Grand Avenue, Suite 1650

Los Angeles, California 90071

Attention: Secretary

 

1. Exercise of Option.
Effective as of today, ________________, 20__, the undersigned (“Participant”) hereby elects to exercise
Participant’s option (the “Option”) to purchase shares (the “Exercised Shares”)
of the common stock of Hyrecar Inc, a Delaware corporation (the “Company”), under and pursuant to the
Company’s 2018 Equity Incentive Plan (the “Plan”) and that certain Stock Option Agreement made
and entered into as of ________, 20__ by and between the Company and Participant (the “Option Agreement”).

 

2. Delivery of Payment. Participant
herewith delivers to the Company the full exercise price of the Exercised Shares, as set forth in the Option Agreement, and any
and all withholding taxes due in connection with the exercise of the Option.

 

3. Representations of Participant.
Participant acknowledges that Participant has received, read and understood the Plan and the Option Agreement and agrees to abide,
and be bound, by their terms and conditions.

 

4. Rights as Stockholder.
Until the issuance of the Exercised Shares (as evidenced by the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company), no right to vote or receive dividends or other distributions or any other rights as a stockholder
shall exist with respect to the Exercised Shares, notwithstanding the exercise of the Option. The Exercised Shares shall be issued
to Participant as soon as practicable after the Option is exercised in accordance with the Option Agreement. No adjustment shall
be made for a dividend or distribution or other right for which the record date is prior to the date of issuance, except as provided
in Section 13 of the Plan.

 

5. Tax Consultation. Participant
understands that Participant may suffer adverse tax consequences as a result of Participant’s purchase or disposition of
the Exercised Shares. Participant represents that Participant has consulted with any tax consultants Participant deems advisable
in connection with the purchase or disposition of the Exercised Shares and that Participant is not relying on the Company for any
tax advice.

 

6. Restrictive Legends and Stop-Transfer
Orders.

 

(a) Legends. Participant
understands and agrees that the Company shall cause the legends set forth below, or substantially equivalent legends, to be placed
upon any certificate(s) evidencing ownership of the Exercised Shares, together with any other legends that may be required by the
Company or by applicable federal or state securities laws:

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE
HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF AND HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAWS. THEY MAY NOT
BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES
LAWS PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR AN EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION
OF COUNSEL SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE, TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT
AND ANY APPLICABLE STATE SECURITIES LAWS.

 

    -14-

     

    

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE
ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER, A RIGHT OF FIRST REFUSAL AND A LOCK-UP PERIOD IN THE EVENT OF A PUBLIC OFFERING
AS SET FORTH IN AGREEMENTS BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SECURITIES, COPIES OF WHICH MAY BE OBTAINED AT THE
PRINCIPAL OFFICE OF THE ISSUER. SUCH RESTRICTIONS ON TRANSFER, RIGHT OF FIRST REFUSAL AND LOCK-UP PERIOD ARE BINDING ON TRANSFEREES
OF THESE SECURITIES.

 

(b) Stop-Transfer Notices.
In order to ensure compliance with the restrictions referred to herein and in the Option Agreement, including the provisions of
Section II.4 of the Option Agreement, the Company may issue appropriate stop-transfer instructions to its transfer agent, if any,
and, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records.

 

(c) Refusal to Transfer.
The Company shall not be required to transfer on its books any Exercised Shares that have been Transferred in violation of any
provision hereof or to treat as owner of such Exercised Shares, or otherwise to accord voting or dividend rights to, any purchaser
or other transferee to whom such Exercised Shares shall have been so Transferred. Any attempt to Transfer Exercised Shares in violation
hereof shall be null and void and shall be disregarded by the Company.

 

7. Consent to Notices by Electronic
Transmission. Upon becoming a stockholder of the Company and without limiting the manner by which notice otherwise may
be given effectively to Participant, Participant hereby consents in accordance with Section 232 of the Delaware General Corporation
Law to stockholder notices given by the Company to Participant by any of the following forms of electronic transmission: (i) by
facsimile telecommunications to the facsimile number set forth on the signature page to the Option Agreement or to such other facsimile
number as Participant may designate by a written notice delivered to the Company; (ii) by electronic mail to the e-mail address
set forth on the signature page to the Option Agreement or to such other e-mail address as Participant may designate by a written
notice delivered to the Company; (iii) by a posting on an electronic network together with separate notice to Participant of such
specific posting; and (iv) by any other form of electronic transmission when directed to Participant.

 

8. Capitalized Terms. Unless
otherwise defined herein, capitalized terms used herein shall have the same defined meanings as set forth in the Plan or, if not
defined therein, in the Option Agreement.

 

9. Governing Law; Severability.
This Option Exercise Notice shall be governed by and construed in accordance with the laws of the State of California without regard
to conflict-of-law principles. Should any provision contained herein be held as invalid, illegal or unenforceable, such holding
shall not affect the validity of the remainder of this Option Exercise Notice, the balance of which shall continue to be binding
upon the parties with any such modification to become a part hereof and treated as though originally set forth herein.

 

[SIGNATURE PAGE FOLLOWS]

 

    -15-

     

    

 

	Submitted by:	 	 	 	Accepted by:
	 	 	 
	PARTICIPANT	 	 	 	COMPANY
	 	 	 
	
	 	 	 	 
	Name: 	 	 	 	By:	 	
             
	 	 	 	 	Name: 	 	 
	 	 	 	 	Title:	 	 
	 	 	 
	 	 	 	 	Date Received:

 

 

    -16-

     

    

 

HYRECAR INC.

2018 EQUITY INCENTIVE PLAN

 

RESTRICTED SHARE UNIT AGREEMENT

 

HyreCar Inc., a Delaware corporation, (the
“Company”), hereby awards Restricted Share Units to the Participant named below. The terms and conditions of this award
(this “Award”) are set forth in this cover sheet and in the attached Restricted Share Unit Agreement (together, this
“Agreement”) and in the HyreCar Inc. 2018 Equity Incentive Plan as it may be amended from time to time (the “Plan”).

 

Date of Award:

 

Name of Participant:

 

Number of Restricted Share Units Awarded:

 

Fair Market Value of a Share on Date of
Award:

 

Initial Vesting Calculation Date: 

 

Vesting Schedule:

 

Subject to all the
terms of this Agreement and your continuous Service through the applicable dates of vesting, you will become vested as to the total
Number of Restricted Share Units Awarded, as shown above, in accordance with the following schedule:

 

In all cases, the
resulting aggregate number of vested Shares will be rounded down to the nearest whole number. Upon termination of your Service
(your “Date of Termination”) at any time and for any reason or no reason (other than termination due to your death
or Disability), all of the then outstanding unvested Restricted Share Units shall be forfeited to the Company without consideration
as of your Date of Termination. No partial vesting credit will be provided no matter when your Date of Termination occurs. Notwithstanding
the foregoing, upon termination of your Service due to your death or Disability, the unvested Restricted Share Units: (1) shall
become vested on an accelerated basis as of your Date of Termination; and (2) become fully vested immediately before a Change
in Control.

 

By signing this cover
sheet, you agree to all of the terms and conditions described in this Agreement and in the Plan. You are also acknowledging receipt
of this Agreement and a copy of the Plan and the Plan’s prospectus. Any inconsistency between this Agreement and the Plan
shall be resolved by reference to the Plan.

 

	Participant:	 	

	 	 	(Signature)
	 	 
	Company:	 	

	 	 	(Signature)
	 	 
	Title:	 	 
	 	 	

	 	 	 
	
        

        Attachment
	 	 

 

    -17-

     

    

  

HYRECAR INC.

2018 EQUITY INCENTIVE PLAN

 

RESTRICTED SHARE UNIT AGREEMENT

 

	1. The Plan and Other Agreements	The text of the Plan is incorporated in this Agreement by reference. You and the Company agree to execute such further instruments and to take such further action as may reasonably be necessary to carry out the intent of this Agreement. Unless otherwise defined in this Agreement, certain capitalized terms used in this Agreement are defined in the Plan.

 

	 	This Agreement and the Plan constitute the entire understanding between you and the Company regarding this Award of Restricted Share Units. Any prior agreements, commitments or negotiations concerning this Award are superseded.

 

	2. Award of Restricted Share Units	The Company awards you the number of Restricted Share Units shown on the cover sheet of this Agreement. The Award is subject to the terms and conditions of this Agreement and the Plan. The Company will not issue any Shares if the issuance of such Shares at that time would violate any law or regulation.

 

	3. Vesting and Settlement	This Award will vest according to the Vesting Schedule described in the cover sheet of this Agreement. To the extent a Restricted Share Unit becomes vested and subject to your satisfaction of any tax withholding obligations as discussed below, each vested Restricted Share Unit will entitle you to receive one Share which will be distributed to you on the earliest of (i) a Change in Control, or (ii) the vesting date set forth in the Vesting Schedule section in the cover sheet to this Agreement. Issuance of such Shares shall be in complete satisfaction of such vested Restricted Share Units. Such settled Restricted Share Units shall be immediately cancelled and no longer outstanding and you shall have no further rights or entitlements related to those settled Restricted Share Units.

 

	4. Transfer of Award	You cannot gift, transfer, assign, alienate, pledge, hypothecate, attach, sell, or encumber this Award. If you attempt to do any of these things, this Award will immediately become invalid. You may, however, dispose of this Award in your will or it may be transferred by the laws of descent and distribution. Regardless of any marital property settlement agreement, the Company is not obligated to recognize your spouse’s interest in your Award in any other way.

 

	5. Termination of Service – General	If, while the unvested Restricted Share Units are outstanding, your Service terminates for any reason, other than being terminated by the Company for Cause or due to your death or Disability, then the unvested portion of your Restricted Share Units shall be forfeited without consideration and shall immediately expire on your Date of Termination.

 

    -18-

     

    

 

	6. Termination of Service for Cause	If your Service is terminated by the Company for Cause or if you commit an act(s) of Cause while the unvested Restricted Share Units are outstanding, as determined by the Committee in its sole discretion, then you shall immediately forfeit all rights to your unvested Restricted Share Units without consideration, and the entire unvested Restricted Share Units shall immediately expire, and any rights, payments and benefits with respect to the unvested Restricted Share Units shall be subject to reduction or recoupment in accordance with applicable Company policies and the Plan. For avoidance of doubt, your Service shall also be deemed to have been terminated for Cause by the Company if, after your Service has otherwise terminated, facts and circumstances are discovered that would have justified a termination for Cause, including, without limitation, your violation of Company policies or breach of confidentiality or other restrictive covenants or conditions that may apply prior to or after your Date of Termination.

 

	7. Termination of Service due to Death or Disability	If your Service terminates because of your death or Disability, then the unvested portion of your Restricted Share Units shall become vested on an accelerated basis as of your Date of Termination.

 

	8. Leaves of Absence	For purposes of this Award, your Service does not terminate when you go on a bona fide leave of absence that was approved by the Company in writing, if the terms of the leave of absence provide for Service crediting, or when Service crediting is required by applicable law. Your Service terminates in any event when the approved leave of absence ends unless you immediately return to active work.

 

	 	The Company determines which leaves of absence count for this purpose (along with determining the effect of a leave of absence on vesting of the Award), and when your Service terminates for all purposes under the Plan.

 

	9. Stockholder Rights	As a holder of Restricted Share Units, you shall have no rights other than those of a general creditor of the Company. Subject to the terms of this Agreement, a holder of outstanding Restricted Share Units has none of the rights and privileges of a stockholder of the Company. Without limiting the generality of the foregoing, a holder of outstanding Restricted Share Units has no right to vote or to receive dividends (if any) on the shares represented by such Restricted Share Units. Subject to the terms and conditions of this Agreement, Restricted Share Units create no fiduciary duty of the Company to you and only represent an unfunded and unsecured contractual obligation of the Company. The Restricted Share Units shall not be treated as property or as a trust fund of any kind.

 

 

	 	You, or your estate, shall have no rights as a stockholder of the Company with regard to the Award until you have been issued the applicable Shares by the Company and have satisfied all other conditions specified in the Plan. No adjustment shall be made for cash or stock dividends or other rights for which the record date is prior to the date when such applicable Shares are issued, except as provided in the Plan.

 

	10. Taxes and Withholding	You will be solely responsible for payment of any and all applicable taxes, including without limitation any penalties or interest based upon such tax obligations, associated with this Award.

 

    -19-

     

    

 

	 	The delivery to you of any Shares underlying vested Restricted Share Units will not be permitted unless and until you have satisfied any withholding or other taxes that may be due. Any such tax withholding obligations may be settled in the Company’s discretion by the Company withholding and retaining a portion of the Shares from the Shares that would otherwise be deliverable to you under the vesting Restricted Share Units as provided in the next two sentences. Such withheld Shares will be applied to pay the withholding obligation by using the aggregate fair market value of the withheld Shares as of the date of settlement. You will be delivered the net amount of vested Shares after the Share withholding has been effected and you will not receive the withheld Shares. The Company will not deliver any fractional number of Shares.

 

	11. Code Section 409A	This Award will be administered and interpreted to comply with Code Section 409A of the Internal Revenue Code of 1986, as amended. The provisions of the Plan concerning Code Section 409A will apply to this Award to the extent needed.

 

	12. Restrictions on Resale	By signing this Agreement, you agree not to sell, transfer, dispose of, pledge, hypothecate, make any short sale of, or otherwise effect a similar transaction of any Shares acquired under this Award (each a “Sale Prohibition”) at a time when applicable laws, regulations or Company or underwriter trading policies prohibit the sale or disposition of Shares.

 

	 	The Company shall have the right to designate one or more periods of time, each of which generally will not exceed one hundred eighty (180) days in length (provided however, that such period may be extended in connection with the Company’s release (or announcement of release) of earnings results or other material news or events), and to impose a sale prohibition (a “Sale Prohibition”), if the Company determines (in its sole discretion) that such limitation(s) is/are needed in connection with a public offering of Shares or to comply with an underwriter’s request or trading policy, or could in any way facilitate a lessening of any restriction on transfer pursuant to the Securities Act or any state securities laws with respect to any issuance of securities by the Company, facilitate the registration or qualification of any securities by the Company under the Securities Act or any state securities laws, or facilitate the perfection of any exemption from the registration or qualification requirements of the Securities Act or any applicable state securities laws for the issuance or transfer of any securities. The Company may issue stop/transfer instructions and/or appropriately legend any stock certificates issued pursuant to this Award in order to ensure compliance with the foregoing.

 

	 	If the sale of Shares acquired under this Award is not registered under the Securities Act, but an exemption is available which requires an investment representation or other representation and warranty, you shall represent and agree that the Shares being acquired are being acquired for investment, and not with a view to the sale or distribution thereof, and shall make such other representations and warranties as are deemed necessary or appropriate by the Company and its counsel.

 

	 	You may also be required, as a condition of this Award, to enter into any Company stockholder agreement or other agreements that are applicable to stockholders.

 

    -20-

     

    

 

	13. Clawback Policy	You expressly acknowledge and agree to be bound by Section 6.16 of the Plan, which contains provisions addressing the Company’s policy on recoupment of equity or other compensation.

 

	14. No Retention Rights	Your Award or this Agreement does not give you the right to be retained by the Company (or any Parent or any Subsidiaries or Affiliates) in any capacity. The Company (or any Parent and any Subsidiaries or Affiliates) reserves the right to terminate your Service at any time and for any reason.

 

	15. Extraordinary Compensation	This Award and the Shares subject to the Award are not intended to constitute or replace any pension rights or compensation and are not to be considered compensation of a continuing or recurring nature, or part of your normal or expected compensation, and in no way represent any portion of your salary, compensation or other remuneration for any purpose, including but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments.

  

	16. Adjustments	In the event of a stock split, a stock dividend or a similar change in the Company stock, the number of outstanding Restricted Share Units covered by this Award shall be adjusted (and rounded down to the nearest whole number) pursuant to the Plan. Your Restricted Share Units shall be subject to the terms of the agreement of merger, liquidation or reorganization in the event the Company is subject to such corporate activity.

 

	17. Legends	All certificates or book entries representing the Common Stock issued under this Award may, where applicable, have endorsed thereon the following notations or legends and any other notation or legend the Company determines appropriate:

 

	18. Applicable Law	This Agreement will be interpreted and enforced under the laws of the State of California without reference to the conflicts of law provisions thereof.

 

	19. Regulatory Compliance	The issuance of Common Stock pursuant to this Agreement shall be subject to full compliance with all applicable requirements of law and the requirements of any stock exchange or interdealer quotation system upon which the Common Stock may be listed or traded.

 

    -21-

     

    

 

	20. Binding Effect; No Third Party Beneficiaries	This Agreement shall be binding upon and inure to the benefit of the Company and you and any respective heirs, representatives, successors and permitted assigns. This Agreement shall not confer any rights or remedies upon any person other than the Company and you and any respective heirs, representatives, successors and permitted assigns. The parties agree that this Agreement shall survive the settlement or termination of the Award.

 

	21. Notice	Any notice to be given or delivered to the Company relating to this Agreement shall be in writing and addressed to the Company at its principal corporate offices. All notices shall be deemed effective upon personal delivery or upon deposit in the postal mail, postage prepaid and properly addressed to the Company. Any notice to be given or delivered to you relating to this Agreement may be delivered by electronic form including without limitation by email (including prospectuses required by the SEC) as well as all other documents that the Company is required to deliver to its security holders (including annual reports and proxy statements). The Company may also deliver these documents by posting them on a web site maintained by the Company or by a third party under contract with the Company.

 

	22. Voluntary Participant	You acknowledge that you are voluntarily participating in the Plan.

 

	23. No Rights to Future Awards	Your rights, if any, in respect of or in connection with this Award or any other Awards are derived solely from the discretionary decision of the Company to permit you to participate in the Plan and to benefit from a discretionary future Award. By accepting this Award, you expressly acknowledge that there is no obligation on the part of the Company to continue the Plan and/or grant any additional Awards to you or benefits in lieu of other Awards even if Awards have been granted repeatedly in the past. All decisions with respect to future Awards, if any, will be at the sole discretion of the Committee.

 

	24. Future Value	The future value of the underlying Shares is unknown and cannot be predicted with certainty. If the underlying Shares do not maintain or increase their value after the Date of Award, the Award could have little or no value. If you obtain Shares under this Award, the value of the Shares acquired upon settlement may subsequently increase or decrease in value, and could decrease to a value less than the taxes payable upon settlement.

 

	25. No Advice Regarding Award	The Company has not provided any tax, legal or financial advice, nor has the Company made any recommendations regarding your participation in the Plan, or your acquisition or sale of the underlying Shares. You are hereby advised to consult with your own personal tax, legal and financial advisors regarding your participation in the Plan before taking any action related to the Plan.

 

	26. No Right to Damages	You will have no right to bring a claim or to receive damages if any portion of the Award is cancelled or expires. The loss of existing or potential profit in the Award will not constitute an element of damages in the event of the termination of your Service for any reason, even if the termination is in violation of an obligation of the Company or a Parent or a Subsidiary or an Affiliate to you.

 

    -22-

     

    

 

	27. Data Privacy	You hereby explicitly and unambiguously consent to the collection, use and transfer, in electronic or other form, of your personal data as described in this document by the Company for the exclusive purpose of implementing, administering and managing your participation in the Plan. You understand that the Company holds certain personal information about you, including, but not limited to, name, home address and telephone number, date of birth, gender, social security or insurance number or other identification number, salary, nationality, job title, any shares of stock or directorships held in the Company, details of all Awards or any other entitlement to Shares awarded, cancelled, purchased, exercised, vested, unvested or outstanding in your favor for the purpose of implementing, managing and administering the Plan (“Data”). You understand that the Data may be transferred to any third parties assisting in the implementation, administration and management of the Plan, that these recipients may be located in your country or elsewhere and that the recipient country may have different data privacy laws and protections than your country. You authorize the recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing your participation in the Plan, including any requisite transfer of such Data, as may be required to a broker or other third party with whom you may elect to deposit any Shares acquired under the Plan.

 

	28. Other Information	You agree to receive stockholder information, including copies of any annual report, proxy statement and periodic report, from the Company’s website, if the Company wishes to provide such information through its website. You acknowledge that copies of the Plan, Plan prospectus, Plan information and stockholder information are also available upon written or telephonic request to the Plan’s administrator.

 

	29.
Further Assistance	You agree to provide assistance reasonably requested by the Company in connection with actions taken by you while providing services to the Company, including but not limited to assistance in connection with any lawsuits or other claims against the Company arising from events during the period in which you rendered service to the Company.

 

	30. Legal Compliance	The Company (or any Parent or any Subsidiaries or Affiliates) is not responsible for your legal compliance requirements relating to this Award, including, but not limited to, tax reporting.

 

	31. Additional Conditions	If the Company shall determine, in its sole discretion, that the consent or approval of any governmental authority is necessary or desirable as a condition to the payment of benefits to you pursuant to the Plan, such payment shall not occur until such registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Company.

 

	32. Enforcement	The Company will be entitled to enforce its rights under this Agreement specifically, to recover damages by reason of any breach of any provision of this Agreement and to exercise all other rights to which it may be entitled. You agree and acknowledge that money damages may not be an adequate remedy for breach of the provisions of this Agreement and that the Company may in its sole discretion apply to any court of law or equity of competent jurisdiction for specific performance and/or injunctive relief in order to enforce or prevent any violations of the provisions of this Agreement.

 

    -23-

     

    

 

	33. Nondisclosure of Confidential Information  	You acknowledge that the businesses of the Company is highly competitive and that the Company’s strategies, methods, books, records, and documents, technical information concerning their products, equipment, services, and processes, procurement procedures and pricing techniques, the names of and other information (such as credit and financial data) concerning former, present or prospective customers and business affiliates, all comprise confidential business information and trade secrets which are valuable, special, and unique assets which the Company uses in their business to obtain a competitive advantage over competitors. You further acknowledge that protection of such confidential business information and trade secrets against unauthorized disclosure and use is of critical importance to the Company in maintaining its competitive position. You acknowledge that by reason of your duties to and association with the Company, you have had and will have access to and have and will become informed of confidential business information which is a competitive asset of the Company. You hereby agree that you will not, at any time during or after employment, make any unauthorized disclosure of any confidential business information or trade secrets of the Company, or make any use thereof, except in the carrying out of services responsibilities. You shall take all necessary and appropriate steps to safeguard confidential business information and protect it against disclosure, misappropriation, misuse, loss and theft. Confidential business information shall not include information in the public domain (but only if the same becomes part of the public domain through a means other than a disclosure prohibited hereunder). The above notwithstanding, a disclosure shall not be unauthorized if (i) it is required by law or by a court of competent jurisdiction or (ii) it is in connection with any judicial, arbitration, dispute resolution or other legal proceeding in which your legal rights and obligations as a service provider or under this Agreement are at issue; provided, however, that you shall, to the extent practicable and lawful in any such events, give prior notice to the Company of your intent to disclose any such confidential business information in such context so as to allow the Company an opportunity (which you will not oppose) to obtain such protective orders or similar relief with respect thereto as may be deemed appropriate. Any information not specifically related to the Company would not be considered confidential to the Company. In the event of any conflict in terms between this Section 33 and the terms of any Company confidentiality or proprietary information agreement you have executed, the terms of such other confidentiality or proprietary information agreement shall prevail and govern.

 

-24-Exhibit 10.2

 

HYRECAR
Inc.

INDEMNIFICATION AGREEMENT

 

This Indemnification
Agreement (this “Agreement”) is made as of _________, 20__ by and between HYRECAR INC., a Delaware corporation
(the “Company”), and ______________, an individual (“Indemnitee”). This Agreement supersedes
and replaces any and all previous Agreements between the Company and Indemnitee covering the subject matter of this Agreement.

 

RECITALS 

 

WHEREAS, highly
competent persons have become more reluctant to serve publicly held corporations as directors or officers or in other capacities
unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims
and actions against them arising out of their service to and activities on behalf of the corporation;

 

WHEREAS, the
Board of Directors of the Company (the “Board”) has determined that, in order to attract and retain qualified
individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons
serving the Company from certain liabilities. The Amended and Restated By-Laws (the “By-Laws”) of the Company
and the Amended and Restated Certificate of Incorporation of the Company (the “Certificate of Incorporation”)
require indemnification of the officers and directors of the Company. Indemnitee may also be entitled to indemnification pursuant
to the General Corporation Law of the State of Delaware (the “DGCL”). The By-Laws and the Certificate of Incorporation
and the DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby contemplate
that contracts may be entered into between the Company and members of the board of directors, officers and other persons with respect
to indemnification;

 

WHEREAS, the
uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such
persons;

 

WHEREAS, the
Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests
of the Company and its stockholders and that the Company should act to assure such persons that there will be increased certainty
of such protection in the future;

 

WHEREAS, it
is reasonable, prudent and necessary for the Company to contractually obligate itself to indemnify, and to advance expenses on
behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company
free from undue concern that they will not be so indemnified;

 

WHEREAS, this
Agreement is a supplement to and in furtherance of the By-Laws and the Certificate of Incorporation and any resolutions adopted
pursuant thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;

 

WHEREAS, Indemnitee
does not regard the protection available under the By-Laws and insurance as adequate in the present circumstances, and may not
be willing to serve as an officer or director without adequate protection, and the Company desires Indemnitee to serve in such
capacity. Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf of the Company on
the condition that he be so indemnified; and

 

    -1-

     

    

 

NOW, THEREFORE,
in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as
follows:

 

Section 1.
Services to the Company. Indemnitee agrees to serve as a director of the Company. Indemnitee may at any time and for
any reason resign from such position (subject to any other contractual obligation or any obligation imposed by operation of law),
in which event the Company shall have no obligation under this Agreement to keep Indemnitee in such position. This Agreement shall
not be deemed an employment contract between the Company and Indemnitee. Indemnitee specifically acknowledges that Indemnitee’s
employment with the Company, if any, is at will, and the Indemnitee may be discharged at any time for any reason, with or without
cause, except as may be otherwise provided in any written employment contract between Indemnitee and the Company, other applicable
formal severance policies duly adopted by the Board, or, with respect to service as a director or officer of the Company, by the
Certificate of Incorporation, the By-Laws, and the DGCL. The foregoing notwithstanding, this Agreement shall continue in force
after Indemnitee has ceased to serve as a director of the Company.

 

Section 2.
Definitions. As used in this Agreement:

 

(a) References to “agent”
shall mean any person who is or was a director, officer, or employee of the Company or other person authorized by the Company to
act for the Company, to include such person serving in such capacity as a director, officer, employee, fiduciary or other official
of another corporation, partnership, limited liability company, joint venture, trust or other Enterprise at the request of, for
the convenience of, or to represent the interests of the Company.

 

(b) A “Change
in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement of any of the following
events:

 

(i) Acquisition
of Stock by Third Party. Any Person (as defined below) is or becomes the Beneficial Owner (as defined below), directly or indirectly,
of securities of the Company representing more than fifty percent (50%) or more of the combined voting power of the Company’s
then outstanding securities;

 

(ii) Change
in Board. During any period of two (2) consecutive years (not including any period prior to the execution of this Agreement),
individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by
a person who has entered into an agreement with the Company to effect a transaction described in Sections 2(b)(i), 2(b)(iii)
or 2(b)(iv)) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote
of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period
or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority
of the members of the Board;

 

(iii) Corporate
Transactions. The effective date of a merger or consolidation of the Company with any other entity, other than a merger or consolidation
which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing
to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 51%
of the combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation
and with the power to elect at least a majority of the board of directors or other governing body of such surviving entity;

 

(iv) Liquidation.
The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the sale or disposition
by the Company of all or substantially all of the Company’s assets; and

 

    -2-

     

    

 

(v) Other
Events. There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A
of Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated under the Exchange Act (as
defined below), whether or not the Company is then subject to such reporting requirement.

 

For purposes of this Section 2(b),
the following terms shall have the following meanings:

 

(A) “Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended from time to time.

 

(B) “Person”
shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act; provided, however, that Person shall
exclude (i) the Company, (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the
Company, and (iii) any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the
same proportions as their ownership of stock of the Company.

 

(C) “Beneficial
Owner” shall have the meaning given to such term in Rule 13d-3 under the Exchange Act; provided, however, that Beneficial
Owner shall exclude any Person otherwise becoming a Beneficial Owner by reason of the stockholders of the Company approving a merger
of the Company with another entity.

 

(c) “Corporate
Status” describes the status of a person who is or was a director, officer, employee or agent of the Company or of any
other corporation, limited liability company, partnership or joint venture, trust, employee benefit plan or other enterprise which
such person is or was serving at the request of the Company.

 

(d) “Disinterested
Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification
is sought by Indemnitee.

 

(e) “Enterprise”
shall mean the Company and any other corporation, limited liability company, partnership, joint venture, trust, employee benefit
plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, employee,
agent or fiduciary.

 

(f) “Expenses”
shall include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel
expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, any federal, state,
local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement,
ERISA excise taxes and penalties, and all other disbursements or expenses of the types customarily incurred in connection with
prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise participating
in, a Proceeding. Expenses also shall include (i) Expenses incurred in connection with any appeal resulting from any Proceeding,
including without limitation the premium, security for, and other costs relating to any cost bond or other appeal bond or its equivalent,
and (ii) for purposes of Section 14(d) only, Expenses incurred by Indemnitee in connection with the interpretation, enforcement
or defense of Indemnitee’s rights under this Agreement, by litigation or otherwise. The parties agree that for the purposes
of any advancement of Expenses for which Indemnitee has made written demand to the Company in accordance with this Agreement, all
Expenses included in such demand that are certified by affidavit of Indemnitee’s counsel as being reasonable shall be presumed
conclusively to be reasonable. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments
or fines against Indemnitee.

 

(g) “Independent
Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently
is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter material
to either such party (other than with respect to matters concerning the Indemnitee under this Agreement, or of other indemnitees
under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification
hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under
the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the
Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. The Company agrees to pay the reasonable
fees and expenses of the Independent Counsel referred to above and to fully indemnify such counsel against any and all Expenses,
claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.

 

    -3-

     

    

 

(h) The term “Proceeding”
shall include any threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation,
inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought in the right of the Company
or otherwise and whether of a civil, criminal, administrative legislative, or investigative (formal or informal) nature, including
any appeal therefrom, in which Indemnitee was, is or will be involved as a party, potential party, non-party witness or otherwise
by reason of the fact that Indemnitee is or was a director or officer of the Company, by reason of any action taken by him or of
any action on his part while acting as director or officer of the Company, or by reason of the fact that he is or was serving at
the request of the Company, including prior to the date of this Agreement, as a director, officer, employee or agent of another
corporation, limited liability company, partnership, joint venture, trust or other enterprise, in each case whether or not serving
in such capacity at the time any liability or expense is incurred for which indemnification, reimbursement, or advancement of expenses
can be provided under this Agreement. If the Indemnitee believes in good faith that a given situation may lead to or culminate
in the institution of a Proceeding, this shall be considered a Proceeding under this paragraph.

 

(i) Reference to “other
enterprise” shall include employee benefit plans; references to “fines” shall include any excise tax assessed
with respect to any employee benefit plan; references to “serving at the request of the Company” shall include any
service as a director, officer, employee or agent of the Company which imposes duties on, or involves services by, such director,
officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries; and a person who acted
in good faith and in a manner he reasonably believed to be in the best interests of the participants and beneficiaries of an employee
benefit plan shall be deemed to have acted in a manner “not opposed to the best interests of the Company” as referred
to in this Agreement.

 

Section 3.
Indemnity in Third-Party Proceedings. The Company shall indemnify Indemnitee in accordance with the provisions of this
Section 3 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding
by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 3, Indemnitee shall be indemnified
to the fullest extent permitted by applicable law against all Expenses, judgments, fines and amounts paid in settlement actually
and reasonably incurred by Indemnitee or on his behalf in connection with such Proceeding or any claim, issue or matter therein,
if Indemnitee acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company
and, in the case of a criminal proceeding had no reasonable cause to believe that his conduct was unlawful. The parties hereto
intend that this Agreement shall provide to the fullest extent permitted by law for indemnification in excess of that expressly
permitted by statute, including, without limitation, any indemnification provided by the Certificate of Incorporation, the By-Laws,
vote of the Company’s stockholders or disinterested directors or applicable law.

 

Section 4.
Indemnity in Proceedings by or in the Right of the Company. The Company shall indemnify Indemnitee in accordance with
the provisions of this Section 4 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding
by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 4, Indemnitee shall be indemnified
to the fullest extent permitted by applicable law against all Expenses actually and reasonably incurred by him or on his behalf
in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he
reasonably believed to be in or not opposed to the best interests of the Company. No indemnification for Expenses shall be made
under this Section 4 in respect of any claim, issue or matter as to which Indemnitee shall have been finally adjudged by a
court to be liable to the Company, unless and only to the extent that the Delaware Court of Chancery or any court in which the
Proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances
of the case, Indemnitee is fairly and reasonably entitled to indemnification.

 

    -4-

     

    

 

Section 5.
Indemnification for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provisions of
this Agreement, to the fullest extent permitted by applicable law and to the extent that Indemnitee is a party to (or a participant
in) and is successful, on the merits or otherwise, in any Proceeding or in defense of any claim, issue or matter therein, in whole
or in part, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him in connection therewith.
If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but
less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually
and reasonably incurred by him or on his behalf in connection with or related to each successfully resolved claim, issue or matter
to the fullest extent permitted by law. For purposes of this Section 5 and without limitation, the termination of any claim, issue
or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim,
issue or matter.

 

Section 6.
Indemnification For Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the fullest extent
permitted by applicable law and to the extent that Indemnitee is, by reason of his Corporate Status, a witness or otherwise asked
to participate in any Proceeding to which Indemnitee is not a party, he shall be indemnified against all Expenses actually and
reasonably incurred by him or on his behalf in connection therewith.

 

Section 7.
Partial Indemnification.  If Indemnitee is entitled under any provision of this Agreement to indemnification by the
Company for some or a portion of Expenses, but not, however, for the total amount thereof, the Company shall nevertheless indemnify
Indemnitee for the portion thereof to which Indemnitee is entitled.

 

Section 8.
Additional Indemnification. 

 

(a) Notwithstanding
any limitation in Sections 3, 4, or 5, the Company shall indemnify Indemnitee to the fullest extent permitted by applicable
law if Indemnitee is a party to or threatened to be made a party to any Proceeding (including a Proceeding by or in the right of
the Company to procure a judgment in its favor) against all Expenses, judgments, fines and amounts paid in settlement actually
and reasonably incurred by Indemnitee in connection with the Proceeding.

 

(b)  For purposes
of Section 8(a), the meaning of the phrase “to the fullest extent permitted by applicable law” shall include,
but not be limited to:

 

(i) to the
fullest extent permitted by the provision of the DGCL that authorizes or contemplates additional indemnification by agreement,
or the corresponding provision of any amendment to or replacement of the DGCL, and

 

(ii) to
the fullest extent authorized or permitted by any amendments to or replacements of the DGCL adopted after the date of this Agreement
that increase the extent to which a corporation may indemnify its officers and directors.

 

Section 9.
Exclusions. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement
to make any indemnity in connection with any claim made against Indemnitee:

 

(a) for which payment
has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except with respect
to any excess beyond the amount paid under any insurance policy or other indemnity provision; or

 

    -5-

     

    

 

(b) for (i) an
accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within
the meaning of Section 16(b) of the Exchange Act (as defined in Section 2(b) hereof) or similar provisions of state statutory
law or common law, or (ii) any reimbursement of the Company by the Indemnitee of any bonus or other incentive-based or equity-based
compensation or of any profits realized by the Indemnitee from the sale of securities of the Company, as required in each case
under the Exchange Act (including any such reimbursements that arise from an accounting restatement of the Company pursuant to
Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the Company
of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley
Act); or

 

(c) except as provided
in Section 14(d) of this Agreement, in connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee,
including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers,
employees or other indemnitees, unless (i) the Board authorized the Proceeding (or any part of any Proceeding) prior to its
initiation or (ii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the
Company under applicable law.

 

Section 10.
Advances of Expenses. In accordance with Section 9.2 of the By-Laws, and notwithstanding any provision of this
Agreement to the contrary, the Company shall advance, to the extent not prohibited by law, the Expenses incurred by Indemnitee
in connection with any Proceeding, and such advancement shall be made within thirty (30) days after the receipt by the
Company of a statement or statements requesting such advances from time to time, whether prior to or after final disposition of
any Proceeding. Advances shall be unsecured and interest free. Advances shall be made without regard to Indemnitee’s ability
to repay the Expenses and without regard to Indemnitee’s ultimate entitlement to indemnification under the other provisions
of this Agreement. Advances shall include any and all reasonable Expenses incurred pursuing an action to enforce this right of
advancement, including Expenses incurred preparing and forwarding statements to the Company to support the advances claimed. The
Indemnitee shall qualify for advances upon the execution and delivery to the Company of this Agreement, which shall constitute
an undertaking providing that the Indemnitee undertakes to repay the amounts advanced (without interest) to the extent that it
is ultimately determined that Indemnitee is not entitled to be indemnified by the Company. No other form of undertaking shall be
required other than the execution of this Agreement. This Section 10 shall not apply to any claim made by Indemnitee for which
indemnity is excluded pursuant to Section 9.

 

Section 11.
Procedure for Notification and Defense of Claim. 

 

(a) Indemnitee shall
notify the Company in writing of any matter with respect to which Indemnitee intends to seek indemnification or advancement of
Expenses hereunder as soon as reasonably practicable following the receipt by Indemnitee of written notice thereof. The written
notification to the Company shall include a description of the nature of the Proceeding and the facts underlying the Proceeding.
To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or
therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine
whether and to what extent Indemnitee is entitled to indemnification following the final disposition of such action, suit or proceeding.
The omission by Indemnitee to notify the Company hereunder will not relieve the Company from any liability which it may have to
Indemnitee hereunder or otherwise than under this Agreement, and any delay in so notifying the Company shall not constitute a waiver
by Indemnitee of any rights under this Agreement. The Secretary of the Company shall, promptly upon receipt of such a request for
indemnification, advise the Board in writing that Indemnitee has requested indemnification.

 

(b) The Company will
be entitled to participate in the Proceeding at its own expense.

 

    -6-

     

    

 

Section 12.
Procedure Upon Application for Indemnification. 

 

(a) Upon written request
by Indemnitee for indemnification pursuant to Section 11(a), a determination, if required by applicable law, with respect
to Indemnitee’s entitlement thereto shall be made in the specific case: (i) if a Change in Control shall have occurred,
by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee; or (ii) if a Change
in Control shall not have occurred, (A) by a majority vote of the Disinterested Directors, even if less than a quorum of the
Board, (B) by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even if
less than a quorum of the Board, (C) if there are no such Disinterested Directors or, if such Disinterested Directors so direct,
by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee or (D) if so directed
by the Board, by the stockholders of the Company; and, if it is so determined that Indemnitee is entitled to indemnification, payment
to Indemnitee shall be made within ten (10) days after such determination. Indemnitee shall cooperate with the person,
persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including providing
to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise
protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any costs
or Expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons
or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement
to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom.

 

(b) In the event the
determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12(a) hereof, the
Independent Counsel shall be selected as provided in this Section 12(b). If a Change in Control shall not have occurred, the
Independent Counsel shall be selected by the Board, and the Company shall give written notice to Indemnitee advising him of the
identity of the Independent Counsel so selected. If a Change in Control shall have occurred, the Independent Counsel shall be selected
by Indemnitee (unless Indemnitee shall request that such selection be made by the Board, in which event the preceding sentence
shall apply), and Indemnitee shall give written notice to the Company advising it of the identity of the Independent Counsel so
selected. In either event, Indemnitee or the Company, as the case may be, may, within ten (10) days after such written
notice of selection shall have been given, deliver to the Company or to Indemnitee, as the case may be, a written objection to
such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel
so selected does not meet the requirements of “Independent Counsel” as defined in Section 2 of this Agreement,
and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection,
the person so selected shall act as Independent Counsel. If such written objection is so made and substantiated, the Independent
Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court has determined
that such objection is without merit. If, within twenty (20) days after the later of submission by Indemnitee of a written
request for indemnification pursuant to Section 11(a) hereof and the final disposition of the Proceeding, no Independent Counsel
shall have been selected and not objected to, either the Company or Indemnitee may petition a court of competent jurisdiction for
resolution of any objection which shall have been made by the Company or Indemnitee to the other’s selection of Independent
Counsel and/or for the appointment as Independent Counsel of a person selected by the Court or by such other person as the Court
shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent
Counsel under Section 12(a) hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 14(a)
of this Agreement, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject
to the applicable standards of professional conduct then prevailing).

 

    -7-

     

    

 

Section 13.
Presumptions and Effect of Certain Proceedings. 

 

(a) In making a determination
with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination shall, to the
fullest extent not prohibited by law, presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee
has submitted a request for indemnification in accordance with Section 11(a) of this Agreement, and the Company shall, to
the fullest extent not prohibited by law, have the burden of proof to overcome that presumption in connection with the making by
any person, persons or entity of any determination contrary to that presumption. Neither the failure of the Company (including
by its directors or independent legal counsel) to have made a determination prior to the commencement of any action pursuant to
this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct,
nor an actual determination by the Company (including by its directors or independent legal counsel) that Indemnitee has not met
such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met the applicable
standard of conduct.

 

(b) Subject to Section 14(e),
if the person, persons or entity empowered or selected under Section 12 of this Agreement to determine whether Indemnitee
is entitled to indemnification shall not have made a determination within sixty (60) days after receipt by the Company
of the request therefor, the requisite determination of entitlement to indemnification shall, to the fullest extent not prohibited
by law, be deemed to have been made and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by
Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially
misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable
law; provided, however, that such 60-day period may be extended for a reasonable time, not to exceed an additional thirty (30) days,
if the person, persons or entity making the determination with respect to entitlement to indemnification in good faith requires
such additional time for the obtaining or evaluating of documentation and/or information relating thereto; and provided, further,
that the foregoing provisions of this Section 13(b) shall not apply (i) if the determination of entitlement to indemnification
is to be made by the stockholders pursuant to Section 12(a) of this Agreement and if (A) within fifteen (15) days
after receipt by the Company of the request for such determination the Board has resolved to submit such determination to the stockholders
for their consideration at an annual meeting thereof to be held within seventy-five (75) days after such receipt and
such determination is made thereat, or (B) a special meeting of stockholders is called within fifteen (15) days
after such receipt for the purpose of making such determination, such meeting is held for such purpose within sixty (60) days
after having been so called and such determination is made thereat, or (ii) if the determination of entitlement to indemnification
is to be made by Independent Counsel pursuant to Section 12(a) of this Agreement.

 

(c) The termination
of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of nolo
contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect
the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which
he reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding,
that Indemnitee had reasonable cause to believe that his conduct was unlawful.

 

(d) Reliance as
Safe Harbor. For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s
action is based on the records or books of account of the Enterprise, including financial statements, or on information supplied
to Indemnitee by the officers of the Enterprise in the course of their duties, or on the advice of legal counsel for the Enterprise
or on information or records given or reports made to the Enterprise by an independent certified public accountant or by an appraiser
or other expert selected with the reasonable care by the Enterprise. The provisions of this Section 13(d) shall not be deemed
to be exclusive or to limit in any way the other circumstances in which the Indemnitee may be deemed to have met the applicable
standard of conduct set forth in this Agreement.

 

(e) Actions of Others.
The knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the Enterprise shall not be imputed
to Indemnitee for purposes of determining the right to indemnification under this Agreement.

 

    -8-

     

    

 

Section 14.
Remedies of Indemnitee. 

 

(a)  Subject to
Section 14(e), in the event that (i) a determination is made pursuant to Section 12 of this Agreement that Indemnitee
is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 10
of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 12(a)
of this Agreement within ninety (90) days after receipt by the Company of the request for indemnification, (iv) payment
of indemnification is not made pursuant to Section 5, 6 or 7 or the last sentence of Section 12(a) of this Agreement
within ten (10) days after receipt by the Company of a written request therefor, (v) payment of indemnification
pursuant to Section 3, 4 or 8 of this Agreement is not made within ten (10) days after a determination has been
made that Indemnitee is entitled to indemnification, or (vi) in the event that the Company or any other person takes or threatens
to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or Proceeding
designed to deny, or to recover from, the Indemnitee the benefits provided or intended to be provided to the Indemnitee hereunder,
Indemnitee shall be entitled to an adjudication by a court of his entitlement to such indemnification or advancement of Expenses.
Alternatively, Indemnitee, at his option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the
Commercial Arbitration Rules of the American Arbitration Association. Indemnitee shall commence such proceeding seeking an adjudication
or an award in arbitration within 180 days following the date on which Indemnitee first has the right to commence such proceeding
pursuant to this Section 14(a); provided, however, that the foregoing clause shall not apply in respect of a
proceeding brought by Indemnitee to enforce his rights under Section 5 of this Agreement. The Company shall not oppose Indemnitee’s
right to seek any such adjudication or award in arbitration.

 

(b) In the event that
a determination shall have been made pursuant to Section 12(a) of this Agreement that Indemnitee is not entitled to indemnification,
any judicial proceeding or arbitration commenced pursuant to this Section 14 shall be conducted in all respects as a de
novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination. In
any judicial proceeding or arbitration commenced pursuant to this Section 14 the Company shall have the burden of proving
Indemnitee is not entitled to indemnification or advancement of Expenses, as the case may be.

 

(c) If a determination
shall have been made pursuant to Section 12(a) of this Agreement that Indemnitee is entitled to indemnification, the Company
shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 14, absent
(i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s
statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification
under applicable law.

 

(d) The Company shall,
to the fullest extent not prohibited by law, be precluded from asserting in any judicial proceeding or arbitration commenced pursuant
to this Section 14 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall
stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement. It
is the intent of the Company that, to the fullest extent permitted by law, the Indemnitee not be required to incur legal fees or
other Expenses associated with the interpretation, enforcement or defense of Indemnitee’s rights under this Agreement by
litigation or otherwise because the cost and expense thereof would substantially detract from the benefits intended to be extended
to the Indemnitee hereunder. The Company shall, to the fullest extent permitted by law, indemnify Indemnitee against any and all
Expenses and, if requested by Indemnitee, shall (within ten (10) days after receipt by the Company of a written request
therefor) advance, to the extent not prohibited by law, such Expenses to Indemnitee, which are incurred by Indemnitee in connection
with any action brought by Indemnitee for indemnification or advancement of Expenses from the Company under this Agreement or under
any directors’ and officers’ liability insurance policies maintained by the Company if Indemnitee is wholly successful
on the underlying claims; if Indemnitee is not wholly successful on the underlying claims, then such indemnification and advancement
shall be only to the extent Indemnitee is successful on such underlying claims or otherwise as permitted by law, whichever is greater.

 

(e) Notwithstanding
anything in this Agreement to the contrary, no determination as to entitlement of Indemnitee to indemnification under this Agreement
shall be required to be made prior to the final disposition of the Proceeding.

 

    -9-

     

    

 

Section 15.
Non-exclusivity; Survival of Rights; Insurance; Subrogation. 

 

(a)  The rights
of indemnification and to receive advancement of Expenses as provided by this Agreement shall not be deemed exclusive of any other
rights to which Indemnitee may at any time be entitled under applicable law, the Certificate of Incorporation, the By-Laws, any
agreement, a vote of stockholders or a resolution of directors, or otherwise. No amendment, alteration or repeal of this Agreement
or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken
or omitted by such Indemnitee in his Corporate Status prior to such amendment, alteration or repeal. To the extent that a change
in Delaware law, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would
be afforded currently under the By-Laws, the Certificate of Incorporation and this Agreement, it is the intent of the parties hereto
that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred
is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition
to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or
employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other
right or remedy.

 

(b) The Company shall
use its best efforts to maintain an insurance policy or policies providing liability insurance for directors and officers in effect
at all times. To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors,
officers, employees, or agents of the Company or of any other corporation, partnership, joint venture, trust, employee benefit
plan or other enterprise which such person serves at the request of the Company, Indemnitee shall be covered by such policy or
policies in accordance with its or their terms to the maximum extent of the coverage available for any such director, officer,
employee or agent under such policy or policies. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof,
the Company has director and officer liability insurance in effect, the Company shall give prompt notice of such claim or of the
commencement of a proceeding, as the case may be, to the insurers in accordance with the procedures set forth in the respective
policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee,
all amounts payable as a result of such proceeding in accordance with the terms of such policies.

 

(c) In the event of
any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery
of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution of
such documents as are necessary to enable the Company to bring suit to enforce such rights.

 

(d) The Company shall
not be liable under this Agreement to make any payment of amounts otherwise indemnifiable (or for which advancement is provided
hereunder) hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy,
contract, agreement or otherwise.

 

(e) The Company’s
obligation to indemnify or advance Expenses hereunder to Indemnitee who is or was serving at the request of the Company as a director,
officer, employee or agent of any other corporation, limited liability company, partnership, joint venture, trust, employee benefit
plan or other enterprise shall be reduced by any amount Indemnitee has actually received as indemnification or advancement of Expenses
from such other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise.

 

    -10-

     

    

 

Section 16.
Duration of Agreement. This Agreement shall continue until and terminate upon the later of: (a) ten (10) years
after the date that Indemnitee shall have ceased to serve as a director of the Company or (b) one (1) year after
the final termination of any Proceeding then pending in respect of which Indemnitee is granted rights of indemnification or advancement
of Expenses hereunder and of any proceeding commenced by Indemnitee pursuant to Section 14 of this Agreement relating thereto.
This Agreement shall be binding upon the Company and its successors and assigns and shall inure to the benefit of Indemnitee and
his heirs, executors and administrators.

 

Section 17.
Severability. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable
for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including
without limitation, each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or
unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall
remain enforceable to the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed to the
extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to
the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any Section of this
Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable)
shall be construed so as to give effect to the intent manifested thereby.

 

Section 18.
Enforcement. 

 

(a) The Company expressly
confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in order to induce
Indemnitee to serve as a director or officer of the Company, and the Company acknowledges that Indemnitee is relying upon this
Agreement in serving as a director or officer of the Company.

 

(b) This Agreement
constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior
agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof;
provided, however, that this Agreement is a supplement to and in furtherance of the Certificate of Incorporation, the By-Laws and
applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder.

 

Section 19.
Modification and Waiver. No supplement, modification or amendment of this Agreement shall be binding unless executed
in writing by the parties thereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver
of any other provisions of this Agreement nor shall any waiver constitute a continuing waiver.

 

Section 20.
Notice by Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being served with any summons,
citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject
to indemnification or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company shall not relieve
the Company of any obligation which it may have to the Indemnitee under this Agreement or otherwise.

 

    -11-

     

    

 

Section 21.
Notices. All notices, requests, demands and other communications under this Agreement shall be in writing and shall
be deemed to have been duly given if (a) delivered by hand and receipted for by the party to whom said notice or other communication
shall have been directed, (b) mailed by certified or registered mail with postage prepaid, on the third business day after
the date on which it is so mailed, (c) mailed by reputable overnight courier and receipted for by the party to whom said notice
or other communication shall have been directed or (d) sent by facsimile transmission, with receipt of oral confirmation that
such transmission has been received:

 

(i) If to
Indemnitee, at the address indicated on the signature page of this Agreement, or such other address as Indemnitee shall provide
to the Company.

 

(ii) If
to the Company to

 

HyreCar Inc.

355 South Grand Avenue, Suite
1650

Los Angeles, CA 90071

Attention: Chief Executive
Officer

 

With a copy to (which shall
not constitute notice):

 

Sheppard, Mullin, Richter
& Hampton LLP

30 Rockefeller Plaza

New York, NY 10112

Attention: Richard A. Friedman

 

or to any other address as may have been
furnished to Indemnitee by the Company.

 

Section 22.
Contribution. To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement
is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the
amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement
and/or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as
is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (a) the relative
benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding;
and/or (b) the relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection
with such event(s) and/or transaction(s).

 

Section 23.
Applicable Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed
by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules.
Except with respect to any arbitration commenced by Indemnitee pursuant to Section 14(a) of this Agreement, the Company and
Indemnitee hereby irrevocably and unconditionally (a) agree that any action or proceeding arising out of or in connection
with this Agreement shall be brought only in the Chancery Court of the State of Delaware (the “Delaware Court”),
and not in any other state or federal court in the United States of America or any court in any other country, (b) consent
to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection
with this Agreement, (c) appoint, to the extent such party is not otherwise subject to service of process in the State of
Delaware, irrevocably Paracorp Incorporated, 2140 South Dupont Hwy, City of Camden, County of Kent, Delaware 19934 as its agent
in the State of Delaware as such party’s agent for acceptance of legal process in connection with any such action or proceeding
against such party with the same legal force and validity as if served upon such party personally within the State of Delaware,
(d) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court, and (e) waive,
and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought
in an improper or inconvenient forum.

 

    -12-

     

    

 

Section 24.
Identical Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes
be deemed to be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed
by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

 

Section 25.
Miscellaneous. Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate.
The headings of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement
or to affect the construction thereof.

 

[SIGNATURE PAGE FOLLOWS]

 

    -13-

     

    

 

IN WITNESS WHEREOF,
the parties have caused this Agreement to be signed as of the day and year first above written.

 

	 	HYRECAR INC. 
	 	 
	 	 
	 	By: 
	 	Title: 
	 	 
	 	Indemnitee
	 	 
	 	 

 

 

-14-

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