Document:

Exhibit 10.16

 

OPEN END LEASE AGREEMENT AND DISCLOSURE STATEMENT

 

	Lease No.	DC-085	 	Lease Start Date	11-1-17

 

	This Lease Agreement (Lease) is between	Distinct Cars, LLC	and	Acme Auto Leasing LLC	 
	 	(Lessee)	 	(Lessor)	 

 

	Name:	Distinct Cars, LLC (a wholly owned subsidiary of YayYo Inc.)	Acme Auto Leasing, LLC	Toll Free	(800) 242-7767
	Address: 	433 N. Camden Drive, Suite 600 	440 Washington Avenue	Telephone	(203) 234-6850
	 	Beverly Hills, CA 90210	North Haven, CT 06473	Fax	(203)-238-6858
	Telephone: 347-334-6313	 	 	 

 

 

 

Subject to the terms and conditions of this
lease you agree to lease from Lessor the motor vehicle (“Vehicle) described below and will use the Vehicle primarily for
personal or business use.

 

 

VEHICLE INFORMATION 

 

 

	Year	2018	  Make	Hyundai	  Model	Elantra	  Body Style	Sedan	  Unit #	504174

 

	Color	Black	  VIN	KMHD74LF6JU504174	   Odometer Mileage	N/A	 

 

LEASE DISCLOSURES

 

		1.	Total Payment Due at Inception:

	x Capitalized Cost Reduction	$	3,111.40
	 ̈ Delivery Charge	$	 
	 ̈ Registration Fee	$	 
	 ̈ Advance Monthly Payment	$	 
	 ̈ Refundable Security Deposit	$	 
	 ̈ Other	$	 
	Total	$	 

 

		2.	Term of Lease:     36     Months

The first payment of $     373.01    
is due on the first day of the month in which the lease begins, and subsequent payments of $373.01 are due on the first
day of each month thereafter, for a total of thirty-six months.

 

		3.	Total Monthly Payment:

$ 373.01/ 36 months       

 

		4.	Total of Monthly Payments:

$   13,428.36            

 

		5.	Total of other charges Payable to Lessor:

 ̈
Disposition $                                

 ̈
Maintenance $                                (est.*)
(see Item 9)

x
Other Please reference the Side Agreement.

 

		6.	Special Terms:

This is the Purchase Agreement
referenced in the Side Agreement.

 

		7.	Fees and Taxes: Lessee is responsible to pay during the term for official fee, registration,
Certificate of Title, License fees and taxes.

 

		8.	Insurance:

		x	You
are required to provide the following insurance coverage: Bodily Injury or Death $100,000/$300,000 combined single limits per
accident Proper Damage $100,000

 

In the event of total loss for any
reason, including confiscation, for which the Lessor is not compensate by insurance in an amount equal to the monthly payment multiplied
by the number of months remaining in the term of the Lease, together with the residual amount due to Lessor, minus any escrow amounts
which shall not become due (“Total Amount Due”) determined as of the time immediately preceding the loss, then the
Lessee, in addition to his other obligations hereunder, shall immediately pay to the Lessor an amount equal to the difference between
such insurance and the Total Amount Due.

 

 ̈Lessor
will arrange insurance coverage for you at the initial monthly cost to you of $                      (est.*)

		9.	Standards of Wear and Use of Vehicle: The following Standards are applicable for determining
your (Lessee's) financial responsibility at the end of the Lease Term for the unreasonable wear and use of the Vehicle:

		A)	Lessors cost of reconditioning the Vehicle which exceeds $100, and

		B)	Excessive mileage of
                                                                 $               per mile
                                                                 over                   miles
                                                                 per year.

 

		10.	Maintenance of Vehicle:

		x	You are responsible for all maintenance
and servicing of the Vehicle, including but not limited to gas, oil, tune-ups, tires and storage.

		 ̈	Lessor is responsible for the following maintenance

		 ̈	Maintenance charge is included in lease fee

 

		11.	Warranties: The Vehicle is subject to ONLY those express warranties provided by the manufacturer's
warranty of the Vehicle. THE LESSOR MAKES NO WARRANTY, EITHER EXPRESS OR IMPLIED, AS TO THE CONDITION OF THE VEHICLE OR ANY PART
OR ACCESSORY THEREOF, ITS MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE.

 

		12.	Early Termination & Default:

		a)	You have no right to terminate the Lease prior to its scheduled termination without the written
consent of the Lessor and, if given, Lessee must comply with any conditions imposed in the sole discretion of the Lessor.

		b)	Lessor may terminate the Lease upon the occurrence of an Event of Default as set forth below and
proceed against You for unpaid rentals due and payable for the reminder of the Lease term, the residual amount set forth below,
collections costs, and any cost incurred in repossessing, repairing, and disposing of the Vehicle, including reasonable attorneys'
fee.

		c)	In the event that the Lease is terminated due to the total loss of Vehicle, You are responsible
for the amount by which the monthly payment multiplied by the number of remain months in the Lease term, together with the residual
amount due to Lessor, minus any escrow amount which shall not become due, exceeds the amount of any insurance proceeds received
as a result of the loss.

 

		13.	Security Interest: The Lessor has the right to assign your rental payments to a bank and
grant a security interest in the Lease and the Vehicle to Bank.

 

		14.	Late Payments and Penalties: The charge for late payments is five percent (5%) of any rental
or other payment due under the Lease which is not paid within ten (10) days after said payment is due. In the event the lessee
ceases to pay insurance, tax or maintenance expenses, etc. Lessor may pay these expenses and charge lessee for these costs, plus
interest at eighteen percent (18%) per annum until repaid to Lessor.

 

	 	 	
	 	 	 
	 	 	 

 

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		15.	Option
to Purchase: Yesx           No ̈

You have the option to purchase
the vehicle at $1.00 upon payment of final lease.

		•	“Est.” indicates estimated expense based upon the best information reasonable available
to the Lessor as of the date of these disclosures, and such expenses may change in accordance with the terms of the Lease.

 

LEASE TERMS AND CONDITIONS

 

		16.	Lessee's Payment Obligations: If requested, the
Lessee shall pay to the Lessor on the Delivery Date any Advance Payments and Security Deposit set forth above, which shall be
held by or for the Lessor without interest. The Lessee shall also pay to the Lessor monthly rental payments as describe in section
2 above. Where tax, insurance, maintenance or other payments have been included in the monthly rental payment, the Lessor may
increase or decrease the monthly rental payment upon the increase or decrease of the taxes, insurance, maintenance or other amounts
payable by the Lessor on Lessee's behalf, and Lessee shall pay the increased or decreased monthly rental payment in accordance
with the terms of this lease.

 

The Lessee shall also pay upon the
termination of this lease, if applicable:

		(a)	$0.12 per mile in excess of 20,000 miles per year,
in the case of early termination; and

		(b)	Any amount in excess of One Hundred Dollars ($100.00)
incurred by the Lessor in reconditioning of each Vehicle. Any dispute between the Lessor and the Lessee as to the amount due under
this Subparagraph (b) shall be submitted to arbitration by an independent appraiser appointed by agreement of Lessor and Lessee,
whose determination shall be final and binding upon the parties.

 

The Lessee shall also pay to the
Lessor a delinquency charge equal to five percent (5%) of any rental payment or other payment not paid hereunder when due or within
ten (10) days thereafter 

		17.	Lessee’s Use of the Vehicle

The vehicle may be operated only
by the Lessee and authorized employees and agents. Every operator must be property authorized and licensed to operate the Vehicle.
The vehicle shall not be used for any unlawful purpose or for any purpose which causes insurance coverage on the Vehicle to be
suspended or cancelled, or in excess of its rated capacity.

Lessee agrees that the Lessee shall:

		(a)	Maintain the Vehicle in its original conditions to appearance and mechanical performance, reasonable
wear and tear excepted; make all necessary and required repairs and purchase parts which shall accrue to the benefit, and become
the property of the Lessor, and pay all costs and expenses of whatever nature resulting from the use and operation of each Vehicle,
including but not limited to, expenses for gasoline, oil, lubrication, antifreeze, adjustments, tune-ups, repairs, tires, storage,
washing, tools, tolls fines, traffic violations, towing and serving of any kind; but not including any cost associated with repair
of the Vehicle if it is deemed total loss and insurance proceeds are paid as a result thereof and;

		(b)	pay when due, and be liable for the payment of all sales, use, excise, personal property, ad valorem
or other taxes, except Lessor’s income taxes; all assessment, fees and charges payable with respect to the ownership, possession,
rental, transportation or delivery of any Vehicle hereunder, and all expenses resulting from the licensing, registration, inspection
or other governmental requirements now or hereafter existing and;

		(c)	maintain insurance coverages stated in this Lease Agreement.

Evidence of such coverage, naming
the Lessor as an ADDITIONAL INSURED and loss payee for any Vehicle hereunder, and protecting it and its assignee as their interest
may appear, shall be provided to the Lessor on the Delivery Date. At least thirty (30) days prior written notice of cancellation
shall be provided to the Lessor. If any insurance coverage is suspended or cancelled, the Lessee shall immediately return the Vehicle
to the Lessor, who may elect any of its remedies hereunder, including storage of the Vehicle for the Lessee’s account until
coverage is reinstated. In the event of any loss or damage to a Vehicle, Lessee shall be responsible for the payment of the deductible
required by any policy of insurance. Lessee shall not be responsible for the payment or the amounts set forth in Subparagraphs
(a), (b), and (c) of this Paragraph to the extent that those amounts are included in the Monthly Payment set forth above and are
actually received by Lessor.

 

In the event of total loss for any
reason, including confiscation, for which the Lessor is not compensate by insurance in an amount equal to the monthly payment multiplied
by the number of months remaining in the term of the Lease, together with the residual amount due to Lessor, minus any escrow amounts
which shall not become due (“Total Amount Due”) determined as of the time immediately preceding the loss, then the
Lessee, in addition to his other obligations hereunder, shall immediately pay to the Lessor an amount equal to the difference between
such insurance and the Total Amount Due.

 

The Lessee will promptly report
to the Lessor, in writing all accidents, collisions and damage to the Vehicle, irrespective of fault, injury, loss or damage and
any suit, demand or claim, whether or not justified. Lessee shall cooperate fully with the Lessor and insurer in all accident investigations,
claim and litigation procedures.

 

		18.	Lessor’s Liabilities With Respect to the Leased Vehicle:

It is expressly agreed and understood
that the Vehicle has been selected by the Lessee and that THE LESSOR MAKES NO WARRANTY, EITHER EXPRESSED OR IMPLIED AS TO THE CONDITION
OF THE VEHICLE OR ANY PART OR ACCESSORY THEREOF, ITS MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PROPOSE, or as to any patent
or latent defects in material, workmanship, or otherwise, and no such defect or unfitness shall in any way affect the obligations
of the Lessee to comply with the terms of this Lease; and that the only warranties applicable to any Vehicle are warranties made
by the manufacturer, or its dealers and representatives, and that the Lessee’s rights under any manufacturers’ new
vehicle warranty shall not be impaired hereunder.

 

		19.	Termination of the Lease; Return of Vehicle:

The Lease shall terminate with respect
to a Vehicle upon the scheduled expiration of the Lease term set forth above, the return of the e Vehicle at the Lessee’s
Expense to Lessor at the location of its delivery to Lessee or at such other location as the Lessors may specify in writing and
the payment of all sums due by the Lessee to the Lessor hereunder. Lessee shall have no right to terminate this Lease prior to
the scheduled termination of the Lease, unless Lessor and any assignee of Lessor shall have granted prior written consent to such
termination and Lessee shall have complied with any conditions imposed in the sole discretion of Lessor or its assignee in said
written consent.

 

		20.	Default by Lessee and Additional Rights of Lessor:

 

In the event any one or more of
the following events shall occur:

		(a)	Lessee fails to pay any amount, including rental payments, due hereunder, and continues to fail
to pay for ten (10) days after payment is due; or

		(b)	Lessee files a petition in bankruptcy, or makes an assignment for the benefit of creditors, or
if any receiver or trustee in bankruptcy is appointed for the Lessee in suit or proceeding, or

		(c)	Any insurance coverage required hereunder is canceled or not renewed, or the Lessee is determined
to be an uninsurable risk by any insurer, or

		(d)	the Vehicle is confiscated by a political governmental agency, as a result of the illegal use of
the Vehicle; or

		(e)	failure to perform any other covenant, term, or agreement contained in this Lease:

 

	 	 	 
	 	 	 
	 	 	 

 

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Lease Terms and Conditions continued

 

Lessor may, at its sole discretion and without
notice to the Lessee, undertake either or all of the following remedies:

 

		(1)	terminate this Lease and take immediate possession of any Vehicle hereunder, with or without legal
process, regardless of where such Vehicle may be found, and the Lessee hereby specifically authorizes and empowers the Lessor,
or its agent and employees, to enter upon any of the Lessee’s property or premises for the purpose of taking immediate possession
of any vehicle and any equipment, accessories and property located therein, which the Lessor may hold or store at the Lessee’s
expense; and

		(2)	pursue any other remedy, legal or equitable, which Lessor may have against Lessee.

The Lessor shall not be liable for
any peaceful repossession taken hereunder, and the Lessor’s remedies shall not be exclusive or any other remedy, but shall
cumulative and in addition to every other remedy of the Lessor in law or in equity.

 

		21.	General Provision: (Bank-Lien Holder on Title)

This Lease shall not be assigned
by the Lessee without the Lessor’s prior written consent. The Lessor shall have the right to assign this Lease without prior
notice to, or consent of, the Lessee. Lessee acknowledges that Lessor intends to assign this Lease and its right to the payment
under this Lease to bank. In the event that the Lessor assigns its right to bank, Bank shall succeed to all the rights and powers
of Lessor pursuant to the Lease, and Lessee’s obligation to pay directly to Bank the amounts due under this lease shall be
absolutely unconditional and payable not withstanding any defense, offset or counter claim whatever. By reason of breach of this
Lease or otherwise, which Lessee may or might now or hereafter have against Lessor,

Bank or any other person (Lessee
reserving its right to have recourse directly against Lessor on account of any defense, counterclaim or offset). In the event of
any such assignment, this Lease shall not be modified or amended except upon the written consent of Bank. The Lessor may grant
a security interest in the Vehicle and in this Lease to any financial institution of its selection. Lessee acknowledges that Lessor
intends to grant security interest in the Vehicle and in this Lease to Bank. If the Lessee is a corporation, the Lessee warrants
that the officer executing this Lease on its behalf has been duly authorized to execute the Lease by prior corporate action. All
covenants, agreements, representations and warranties in this Lease contained and made by and on behalf of Lessor and Lessee respectively,
shall be binding on, and inure to the benefit of the respective successors and assigns, of the Lessor and the respective successors
and assigns, and the heirs, executors, administrators. Legal representative and assigns of the Lessee.

 

As used herein, and whenever the
context so requires, the masculine gender shall include the feminine or neuter, and the singular number shall include the plural,
and conversely. This Lease shall be construed and enforced in accordance with the laws of the state in which the Address of Lessee
is located.

 

The section heading contained herein
are inserted for convenience only, and shall not control or affect the meaning or construction of any of the provisions thereof.

 

This Lease constitutes the entire
agreement between the Lessor and Lessee, and no other agreement in any way modifying any of the terms hereof will be binding upon
the Lessor or Bank, unless made in writing and signed by the Lessor and Bank. All prior proposals, negotiations and representation,
if any, made with reference hereto are merged herein. If any of the provisions hereof are determined to be invalid, illegal, or
unenforceable, the remaining provisions of this Lease shall not be affected thereby.

 

		22.	Future appropriation: All funds for payment by the Lessee under this Lease are subject to
the availability of an annual appropriation for this purpose by the Lessee. In the event for non-appropriation of funds by the
Lessee for the services or goods provided under the Lease, the Lessee will terminate the Lease without termination charge or other
liability, on the last day of the then-current fiscal year or when the appropriation made for the then-current year for the service
or goods covered by this Lease is spent, whichever event occurs first. If at any time funds are not appropriated for the continuance
of this Lease, cancellation shall be accepted by the Lessor on thirty days’ prior written notice, but failure to give such
notice shall be of no effect and the Lessee shall not be obligated under this Lease beyond the date of termination.

 

 

 

Signing this lease indicates understanding of,
and agreement to, the TERMS AND CONDITIONS described herein.

 

In witness whereof, the Lessor and the Lessee
Have signed and executed this Lease by their authorized representative, all as of the date first above written.

 

	Witness:	Lessor

 

	Acme Auto Leasing, LLC	Acme Auto Leasing, LLC

 

	Print	 	 	By: Erin Maturo	 

 

	Sign	 	 

 

	Witness	Lessee

 

	Distinct Cars, LLC	Distinct Cars, LLC

 

	Print	Henrich Bari	 	By: Ramy El-Batrawi	/s/ Ramy El-Batrawi

 

	Sign	/s/ Henrich Bari	 

 

    	 	3Exhibit 10.17

 

 

 

Yayyo,
INC.

 

NON-QUALIFIED STOCK OPTION AGREEMENT

 

This Non-Qualified Stock
Option Agreement (this “Agreement”) is made and entered into as of June 9, 2017, by and between YayYo, Inc.,
a Delaware corporation (the “Company”) and Kevin F Pickard (the “Participant”).

 

	Grant Date:	June 9, 2017
	Exercise Price Per Share:	Eight Dollar ($8.00)
	Number of Option Shares:	Three Hundred Thousand (300,000)
	Expiration Date:	December 31, 2020

 

1.           Grant
of Option. 

 

1.1           Grant;
Type of Option. The Company hereby grants to the Participant an option (the “Option”) to purchase the
total number of shares of Common Stock of the Company equal to the number of Option shares set forth above (“Option Shares”),
at the exercise price set forth above (the “Exercise Price”). The Option is being granted pursuant to the terms
of the Company’s “2016 Equity Incentive Plan” (the “Plan”). The Option is intended
to be a Non-Qualified Stock Option and not an Incentive Stock Option within the meaning of Section 422 of the Internal Revenue
Code.

 

1.2           Consideration;
Subject to Plan. The grant of the Option is made in consideration of the services to be rendered by the Participant to
the Company and is subject to the terms and conditions of the Plan. Capitalized terms used but not defined herein will have the
meaning ascribed to them in the Plan.

 

2.           Exercise
Period; Vesting.

 

2.1           Vesting
Schedule. The Option will vest at follows: one hundred twenty thousand (120,000) immediately and ten thousand (10,000)
each month beginning July 1, 2017 through December 1, 2018. The unvested portion of the Option will not be exercisable on or after
the Participant's termination of Continuous Service.

 

2.2           Expiration.
The Option will expire on the Expiration Date set forth above, or earlier as provided in this Agreement or the Plan.

 

3.           Termination
of Continuous Service.

 

3.1           Termination
for Reasons Other Than Cause, Death, Disability. If the Participant’s Continuous Service is terminated for any reason
other than Cause, death or Disability, the Participant may exercise the vested portion of the Option, but only within such period
of time ending on the earlier of (a) the date twenty-four (24) months following the termination of the Participant’s Continuous
Service or (b) the Expiration Date.

 

3.2           Termination
for Cause. If the Participant’s Continuous Service is terminated for Cause, the Participant may exercise the vested
portion of the Option, but only within such period of time ending on the earlier of (a) the date three (3) months following the
termination of the Participant’s Continuous Service or (b) the Expiration Date.

 

    

     

    

  

3.3           Termination
Due to Disability. If the Participant’s Continuous Service terminates as a result of the Participant’s Disability,
the Participant may exercise the vested portion of the Option, but only within such period of time ending on the earlier of (a)
the date twenty-four (24) months following the Participant’s termination of Continuous Service or (b) the Expiration Date.

 

3.4           Termination
Due to Death. If the Participant’s Continuous Service terminates as a result of the Participant’s death, the
vested portion of the Option may be exercised by the Participant’s estate, by a person who acquired the right to exercise
the Option by bequest or inheritance or by the person designated to exercise the Option upon the Participant’s death, but
only within the time period ending on the earlier of (a) the date twenty-four (24) months following the Participant’s termination
of Continuous Service or (b) the Expiration Date.

 

4.           Manner
of Exercise. 

 

4.1           Election
to Exercise. To exercise the Option, the Participant (or in the case of exercise after the Participant’s death or
incapacity, the Participant’s executor, administrator, heir or legatee, as the case may be) must deliver to the Company a
notice of intent to exercise in the manner designated by the Committee. If someone other than the Participant exercises the Option,
then such person must submit documentation reasonably acceptable to the Company verifying that such person has the legal right
to exercise the Option.

 

4.2           Payment
of Exercise Price. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent
permitted by applicable statutes and regulations, either:

 

(a)          in
cash or by certified or bank check at the time the Option is exercised;

 

(b)          by
delivery to the Company of other shares of Common Stock, duly endorsed for transfer to the Company, with a Fair Market Value on
the date of delivery equal to the Exercise Price (or portion thereof) due for the number of shares being acquired, or by means
of attestation whereby the Participant identifies for delivery specific shares that have a Fair Market Value on the date of attestation
equal to the Exercise Price (or portion thereof) and receives a number of shares equal to the difference between the number of
shares thereby purchased and the number of identified attestation shares (a “Stock for Stock Exchange”);

 

(c)          through
a “cashless exercise program” established with a broker;

 

(d)          by
reduction in the number of shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate
Exercise Price at the time of exercise;

 

(e)          by
any combination of the foregoing methods; or

 

(f)          in
any other form of legal consideration that may be acceptable to the Committee.

 

4.3           Withholding.
Prior to the issuance of shares upon the exercise of the Option, the Participant must make arrangements satisfactory to the Company
to pay or provide for any applicable federal, state and local withholding obligations of the Company. The Participant may satisfy
any federal, state or local tax withholding obligation relating to the exercise of the Option by any of the following means:

 

    	Yayyo, Inc.
Non-Qualified
                                         Stock Option Agreement
	
 
2
	 

     

    

  

(a)          tendering
a cash payment;

 

(b)          authorizing
the Company to withhold shares of Common Stock from the shares of Common Stock otherwise issuable to the Participant as a result
of the exercise of the Option; provided, however, that no shares of Common Stock are withheld with a value exceeding the
minimum amount of tax required to be withheld by law; or

 

(c)          delivering
to the Company previously owned and unencumbered shares of Common Stock. The Company has the right to withhold from any compensation
paid to a Participant.

 

4.4           Issuance
of Shares. Provided that the exercise notice and payment are in form and substance satisfactory to the Company, the Company
shall issue the shares of Common Stock registered in the name of the Participant, the Participant’s authorized assignee,
or the Participant’s legal representative, and shall deliver certificates representing the shares with the appropriate legends
affixed thereto.

 

5.           No
Right to Continued Employment; No Rights as Shareholder. Neither the Plan nor this Agreement shall confer upon the Participant
any right to be retained in any position, as an Employee, Consultant or Director of the Company. Further, nothing in the Plan or
this Agreement shall be construed to limit the discretion of the Company to terminate the Participant's Continuous Service at any
time, with or without Cause. The Participant shall not have any rights as a shareholder with respect to any shares of Common Stock
subject to the Option prior to the date of exercise of the Option.

 

6.           Transferability.
The Option is not transferable by the Participant other than to a designated beneficiary upon the Participant’s death or
by will or the laws of descent and distribution, and is exercisable during the Participant’s lifetime only by him or her.
No assignment or transfer of the Option, or the rights represented thereby, whether voluntary or involuntary, by operation of law
or otherwise (except to a designated beneficiary upon death by will or the laws of descent or distribution) will vest in the assignee
or transferee any interest or right herein whatsoever, but immediately upon such assignment or transfer the Option will terminate
and become of no further effect.

 

7.           Change
in Control.

 

7.1           Acceleration
of Vesting. In the event of a Change in Control, notwithstanding any provision of the Plan or this Agreement to the contrary,
the Option shall become immediately vested and exercisable with respect to one hundred percent (100%) of the shares subject to
the Option. To the extent practicable, such acceleration of vesting and exercisability shall occur in a manner and at a time which
allows the Participant the ability to participate in the Change in Control with respect to the shares of Common Stock received.

 

7.2           Cash-out.
In the event of a Change in Control, the Committee may, in its discretion and upon at least ten (10) days’ advance notice
to the Participant, cancel the Option and pay to the Participant the value of the Option based upon the price per share of Common
Stock received or to be received by other shareholders of the Company in the event. Notwithstanding the foregoing, if at the time
of a Change in Control the Exercise Price of the Option equals or exceeds the price paid for a share of Common Stock in connection
with the Change in Control, the Committee may cancel the Option without the payment of consideration therefor.

 

    	Yayyo, Inc.
Non-Qualified Stock Option Agreement
	
 
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8.           Adjustments.
The shares of Common Stock subject to the Option may be adjusted or terminated in any manner as contemplated by the Plan.

 

9.           Tax
Liability and Withholding. Notwithstanding any action the Company takes with respect to any or all income tax, social insurance,
payroll tax, or other tax-related withholding (“Tax-Related Items”), the ultimate liability for all Tax-Related
Items is and remains the Participant’s responsibility and the Company (a) makes no representation or undertakings regarding
the treatment of any Tax-Related Items in connection with the grant, vesting, or exercise of the Option or the subsequent sale
of any shares acquired on exercise; and (b) does not commit to structure the Option to reduce or eliminate the Participant’s
liability for Tax-Related Items.

 

10.         Non-competition
and Non-solicitation. 

 

10.1         In
consideration of the Option, the Participant agrees and covenants not to:

 

(a)          contribute
his or her knowledge, directly or indirectly, in whole or in part, as an employee, officer, owner, manager, advisor, consultant,
agent, partner, director, shareholder, volunteer, intern or in any other similar capacity to an entity engaged in the same or similar
business as the Company and its Affiliates, for a period of two (2) years following the Participant’s termination of Continuous
Service;

 

(b)          directly
or indirectly, solicit, hire, recruit, attempt to hire or recruit, or induce the termination of employment of any employee of the
Company or its Affiliates for period of two (2) years following the Participant’s termination of Continuous Service; or

 

(c)          directly
or indirectly, solicit, contact (including, but not limited to, e-mail, regular mail, express mail, telephone, fax, and instant
message), attempt to contact or meet with the current, former or prospective customers of the Company or any of its Affiliates
for purposes of offering or accepting goods or services similar to or competitive with those offered by the Company or any of its
Affiliates for a period of two (2) years following the Participant’s termination of Continuous Service.

 

10.2         In
the event of a breach or threatened breach of any of the covenants contained in Section 10.1:

 

(a)          any
unvested portion of the Option shall be forfeited effective as of the date of such breach, unless sooner terminated by operation
of another term or condition of this Agreement or the Plan; and

 

(b)          the
Participant hereby consents and agrees that the Company shall be entitled to seek, in addition to other available remedies, a temporary
or permanent injunction or other equitable relief against such breach or threatened breach 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. The aforementioned equitable relief shall be in addition to, not in lieu of, legal
remedies, monetary damages or other available forms of relief.

 

11.         Compliance
with Law. The exercise of the Option and the issuance and transfer of shares of Common Stock shall be subject to compliance
by the Company and the Participant with all applicable requirements of federal and state securities laws and with all applicable
requirements of any stock exchange on which the Company's shares of Common Stock may be listed. No shares of Common Stock shall
be issued pursuant to this Option unless and until any then applicable requirements of state or federal laws and regulatory agencies
have been fully complied with to the satisfaction of the Company and its counsel. The Participant understands that the Company
is under no obligation to register the shares of Common Stock with the U.S. Securities and Exchange Commission, any state securities
commission or any stock exchange to effect such compliance.

 

    	Yayyo, Inc.
Non-Qualified Stock Option Agreement
	
 
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12.         Notices.
Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the Secretary or President
of the Company at the Company’s principal corporate offices. Any notice required to be delivered to the Participant under
this Agreement shall be in writing and addressed to the Participant at the Participant’s address as shown in the records
of the Company. Either party may designate another address in writing (or by such other method approved by the Company) from time
to time.

 

13.         Governing
Law. This Agreement will be construed and interpreted in accordance with the laws of the State of California without regard
to conflict of law principles.

 

14.         Interpretation.
Any dispute regarding the interpretation of this Agreement shall be submitted by the Participant or the Company to the Committee
for review. The resolution of such dispute by the Committee shall be final and binding on the Participant and the Company.

 

15.         Options
Subject to Plan. This Agreement is subject to the Plan as approved by the Company’s shareholders. The terms and provisions
of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between
any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will
govern and prevail.

 

16.         Successors
and Assigns. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure
to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement
will be binding upon the Participant and the Participant’s beneficiaries, executors, administrators and the person(s) to
whom the Option may be transferred by will or the laws of descent or distribution.

 

17.         Severability.
The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability
of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and
enforceable to the extent permitted by law.

 

18.         Discretionary
Nature of Plan. The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its
discretion. The grant of the Option in this Agreement does not create any contractual right or other right to receive any Options
or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification,
or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Participant's employment
with the Company.

 

19.         Amendment.
The Committee has the right to amend, alter, suspend, discontinue or cancel the Option, prospectively or retroactively; provided,
that, no such amendment shall adversely affect the Participant’s material rights under this Agreement without the Participant’s
consent.

 

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

 

    	Yayyo, Inc.
Non-Qualified Stock Option Agreement
	
 
5
	 

     

    

  

21.         Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute
one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic
mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial
appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature.

 

22.         Acceptance.
The Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. The Participant has read and understands
the terms and provisions thereof, and accepts the Option subject to all of the terms and conditions of the Plan and this Agreement.
The Participant acknowledges that there may be adverse tax consequences upon exercise of the Option or disposition of the underlying
shares and that the Participant should consult a tax advisor prior to such exercise or disposition.

 

IN WITNESS WHEREOF, the parties hereto
have executed this Agreement as of the date first above written.

 

	 	COMPANY: 
	 	 
	 	YAYYO, INC.

 

	 	By:	/s/ Ramy El-Batrawi
	 	Name: Ramy El-Batrawi 
	 	Title: Executive Vice President  

 

	 	PARTICIPANT: 
	 	 
	 	KEVIN F. PICKARD

 

	 	By: 	/s/ Kevin F. Pickard
	 	 	Kevin F. Pickard 

 

    	Yayyo, Inc.
Non-Qualified Stock Option Agreement
	
 
6

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