Document:

Exhibit 4.6

 

THIS WARRANT AND THE SECURITIES ISSUABLE
UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR APPLICABLE
STATE SECURITIES LAWS AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT FOR SUCH SECURITIES UNDER THE 1933 ACT, OR AN OPINION OF COUNSEL, SATISFACTORY TO THE ISSUER HEREOF, TO
THE EFFECT THAT REGISTRATION IS NOT REQUIRED UNDER THE 1933 ACT AS SOME OTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
1933 ACT AND APPLICABLE LAWS IS AVAILABLE.

 

WARRANT TO PURCHASE

COMMON STOCK OF

HYRECAR INC

 

	Date of Issuance: __, 2018	Warrant No. 2018-__

 

This certifies that,
for value received, Hyrecar Inc, a Delaware corporation (the “Company”), grants ___________________, or his registered
assigns (the “Registered Holder”), the right to subscribe for and purchase from the Company, at the Exercise Price
(as defined herein), from and after 9:00 a.m. Pacific Standard Time on the earlier of the date of the IPO (as defined in the Promissory
Note) or the date of the Next Financing (as defined in the Promissory Note) (the “Exercise Date”) and to and including
5:00 p.m., Pacific Standard Time, on __, 2023 (the “Expiration Date”), shares,1
as such number of shares may be adjusted from time to time as described herein (the “Warrant Shares”), of the Company’s
common stock, par value 0.00001 per share (the “Common Stock”), subject to the provisions and upon the terms and conditions
herein set forth. The “Exercise Price” per share of Common Stock will be equal to 125% of the then Conversion Price
(as defined in the Promissory Note (as defined below)) on the Date of Exercise.

 

This Warrant is issued
in connection with the issuance to the Registered Holder of a 13% Senior Secured Convertible Promissory Note dated as of January
__, 2018 (the “Promissory Note”) and in connection with that certain Securities Purchase Agreement between the Company
and the Registered Holder dated as of January 3, 2018 (the “Securities Agreement”). The Registered Holder of this Warrant
is subject to the terms and conditions set forth in the Securities Agreement.

 

Section 1.Recordation
on Books of the Company. The Company shall record this Warrant, upon records to be maintained by the Company for that purpose
(the “Warrant Records”), in the name of the Registered Holder. The Company may deem and treat the Registered Holder
as the absolute owner of this Warrant for the purpose of any exercise hereof or any distribution to the Registered Holder.

 

 

		1	The
amount shall be 50% of the shares of Common Stock that the Registered Holder is entitled to in connection with the conversion
of the Registered Holder’s Promissory Note when such Promissory Note first becomes convertible.

 

    Warrant – Page 1

     

    

 

Section 2.Registration
of Transfers and Exchanges.

 

(a) Subject
to Section 9 hereof, the Company shall register the transfer of this Warrant, in whole or in part, upon records to be maintained
by the Company for that purpose, upon surrender of this Warrant, with the Form of Assignment attached hereto completed and duly
endorsed by the Registered Holder, to the Company at the office specified in or pursuant to Section
3(b). Upon any such registration of transfer, a new Warrant, in substantially the form of this Warrant, evidencing the Common Stock
purchase rights so transferred shall be issued to the transferee and a new Warrant, in similar form, evidencing the remaining Common
Stock purchase rights not so transferred, if any, shall be issued to the Registered Holder.

 

(b) This
Warrant is exchangeable, upon the surrender hereof by the Registered Holder at the office of the Company specified in or pursuant
to Section 3(b) hereof, for new Warrants, in substantially the form of this Warrant evidencing, in the aggregate, the right to
purchase the number of Warrant Shares which may then be purchased hereunder, each of such new Warrants to be dated the date of
such exchange and to represent the right to purchase such number of Warrant Shares as shall be designated by the Registered Holder
at the time of such surrender.

 

Section 3.Duration
and Exercise of this Warrant; Delivery of Warrant Shares Upon Exercise.

 

(a) This
Warrant shall be exercisable by the Registered Holder as to the Warrant Shares at any time during the period commencing on the
Exercise Date and ending on the Expiration Date. At 5:00 p.m., Pacific Standard Time, on the Expiration Date, this Warrant, to
the extent not previously exercised, shall become void and of no further force or effect.

 

(b) Subject
to Section 7 hereof, upon exercise or surrender of this Warrant, with the Form of Election to Purchase attached hereto completed
and duly endorsed by the Registered Holder, to the Company at 355 South Grand Avenue, Suite 1650, Los Angeles, CA 90071, Attention:
Chief Financial Officer, or at such other address as the Company may specify in writing to the Registered Holder, and upon payment
of the Exercise Price multiplied by the number of Warrant Shares then issuable upon exercise of this Warrant in lawful money of
the United States of America, all as specified by the Registered Holder in the Form of Election to Purchase, within three (3) Business
Days after delivery of the Form of Election to Purchase to the Company (the “Warrant Share Delivery Date”),
the Company shall issue and cause to be delivered to the Registered Holder, and in such name or names as the Registered Holder
may designate, a certificate evidencing the Warrant Shares issued upon such exercise. Any person so designated in the Form of Election
to Purchase, duly endorsed by the Registered Holder, as the person to be named on the certificates evidencing the Warrant Shares,
shall be deemed to have become holder of record of such Warrant Shares, evidenced by such certificates, as of the Date of Exercise
(as hereinafter defined) of such Warrant.

 

(c) The
Registered Holder may pay the applicable Exercise Price pursuant to Section 3(b), at the option of the Registered Holder, either
(i) by cashier’s or certified bank check payable to the Company, or (ii) by wire transfer of immediately available funds
to the account which shall be indicated in writing by the Company to the Registered Holder, in either case, in an amount equal
to the product of the Exercise Price multiplied by the number of Warrant Shares being purchased upon such exercise (the “Aggregate
Exercise Price”). Alternatively, payment of the Aggregate Exercise Price may be made by the Registered Holder instructing
the Company to withhold a number of Warrant Shares then issuable upon exercise of this Warrant with an aggregate Fair Market Value
as of the Exercise Date equal to such Aggregate Exercise Price.

 

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(d) “Fair
Market Value” means, as of any particular date: (a) the volume weighted average of the closing sales prices of the Common
Stock for such day on all domestic securities exchanges on which the Common Stock may at the time be listed; (b) if there have
been no sales of the Common Stock on any such exchange on any such day, the average of the highest bid and lowest asked prices
for the Common Stock on all such exchanges at the end of such day; (c) if on any such day the Common Stock is not listed on a domestic
securities exchange, the closing sales price of the Common Stock as quoted on the OTC Bulletin Board, the Pink OTC Markets or similar
quotation system or association for such day; or (d) if there have been no sales of the Common Stock on the OTC Bulletin Board,
the Pink OTC Markets or similar quotation system or association on such day, the average of the highest bid and lowest asked prices
for the Common Stock quoted on the OTC Bulletin Board, the Pink OTC Markets or similar quotation system or association at the end
of such day; in each case, averaged over twenty (20) consecutive Business Days ending on the Business Day immediately prior to
the day as of which “Fair Market Value” is being determined; provided, that if the Common Stock is listed on
any domestic securities exchange, the term “Business Day” as used in this sentence means Business Days on which such
exchange is open for trading. If at any time the Common Stock is not listed on any domestic securities exchange or quoted on the
OTC Bulletin Board, the Pink OTC Markets or similar quotation system or association, the “Fair Market Value” of the
Common Stock shall be the fair market value per share as determined jointly by the Board and the Registered Holder; provided, that
if the Company and the Holder are unable to agree on the fair market value per share of the Common Stock within a reasonable period
of time (not to exceed 5 days from the Company’s receipt of the Form of Election), such fair market value shall be determined
by a nationally recognized investment banking, accounting or valuation firm jointly selected by the Company and the Registered
Holder. The determination of such firm shall be final and conclusive, and the fees and expenses of such valuation firm shall be
borne by the Company.

 

(e) The
“Date of Exercise” of any Warrant means the date on which the Company shall have received (i) this Warrant, with the
Form of Election to Purchase attached hereto appropriately completed and duly endorsed, and (ii) payment of the Aggregate Exercise
Price as provided herein.

 

(f) This
Warrant will be exercisable either in its entirety or, from time to time, for part, only of the number of Warrant Shares which
are issuable hereunder. If this Warrant shall have been exercised only in part, the Company shall, at the time of delivery of the
certificates for the Warrant Shares issued pursuant to such exercise, deliver to the Registered Holder a new Warrant evidencing
the rights to purchase the remaining Warrant Shares, which Warrant shall be substantially in the form of this Warrant.

 

(g) If
the Company fails for any reason to deliver to the Holder the Warrant Shares subject to a Form of Election to Purchase by the Warrant
Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000
of Warrant Shares subject to such exercise, $10 per Business Day (increasing to $20 per Business Day on the fifth (5th) Business
Day after such liquidated damages begin to accrue) for each Business Day after such Warrant Share Delivery Date until such Warrant
Shares are delivered or Holder rescinds such exercise.

 

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(h) Compensation
for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available to the Holder,
if the Company fails to transmit or cause to be transmitted to the Holder the Warrant Shares pursuant to an exercise on or before
the Warrant Share Delivery Date, and if after such date the Holder is required by its broker to purchase (in an open market transaction
or otherwise) or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a
sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”),
then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including
brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the
number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times
(2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder,
either reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in
which case such exercise shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have
been issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases
Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common
Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding
sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating
the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss.
Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including,
without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely
deliver shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

 

Section 4.Payment
of Expenses. The Company will pay all expenses (other than any federal or state taxes, including without limitation income
taxes, or similar obligations of the Registered Holder) attributable to the preparation, execution, issuance and delivery of this
Warrant, any new Warrant and the Warrant Shares.

 

Section 5.Mutilated
or Missing Warrant Certificate. If this Warrant is mutilated, lost, stolen or destroyed, upon request by the Registered Holder,
the Company will issue, in exchange for and upon cancellation of the mutilated Warrant, or in substitution for the lost, stolen
or destroyed Warrant, a substitute Warrant, in substantially the form of this Warrant, of like tenor, but, in the case of loss,
theft or destruction, only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction of
this Warrant and, if requested by the Company, indemnity also reasonably satisfactory to it.

 

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Section 6.Reservation,
Listing and Issuance of Warrant Shares.

 

(a) The
Company will at all times have authorized, and reserve and keep available, free from preemptive rights, for the purpose of enabling
it to satisfy any obligation to issue Warrant Shares upon the exercise of the rights represented by this Warrant, the number of
Warrant Shares deliverable upon exercise of this Warrant. The Company will, at its expense, use it best efforts to cause such shares
to be included in or listed on (subject to issuance or notice of issuance of Warrant Shares) all markets or stock exchanges in
or on which the Common Stock is included or listed not later than the date on which the Common Stock is first included or listed
on any such market or exchange and will thereafter maintain such inclusion or listing of all shares of Common Stock from time to
time issuable upon exercise of this Warrant.

 

(b) Before
taking any action which could cause an adjustment pursuant to Section 7 hereof reducing the Exercise Price below the par value
of the Warrant Shares, the Company will take any corporate action which may be necessary in order that the Company may validly
and legally issue at the Exercise Price, as so adjusted, Warrant Shares that are fully paid and non-assessable.

 

(c) The
Company covenants that all Warrant Shares will, upon issuance in accordance with the terms of this Warrant, be (i) duly authorized,
fully paid and nonassessable, and (ii) free from all liens, charges and security interests.

 

Section 7.Adjustment
of Number of Warrant Shares.

 

(a) The
number of Warrant Shares to be purchased upon exercise hereof is subject to change or adjustment from time to time as hereinafter
provided:

 

(i) Stock
Dividends; Stock Splits; Reverse Stock Splits; Reclassifications. In case the Company shall (a) pay a dividend with respect
to its Common Stock in shares of capital stock, (b) subdivide its outstanding shares of Common Stock, (c) combine its outstanding
shares of Common Stock into a smaller number of shares of any class of Common Stock or (d) issue any shares of its capital stock
in a reclassification of the Common Stock (including any such reclassification in connection with a consolidation or merger in
which the Company is the continuing corporation), other than elimination of par value, a change in par value, or a change from
par value to no par value (any one of which actions is herein referred to as an “Adjustment Event”), the number of
Warrant Shares purchasable upon exercise of the Warrant immediately prior to the record date for such Adjustment Event shall be
adjusted so that the Registered Holder shall thereafter be entitled to receive the number of shares of Common Stock or other securities
of the Company (such other securities thereafter enjoying the rights of shares of Common Stock under this Warrant) that such Registered
Holder would have owned or have been entitled to receive after the happening of such Adjustment Event, had such Warrant been exercised
immediately prior to the happening of such Adjustment Event or any record date with respect thereto. An adjustment made pursuant
to this Section 7(a)(i) shall become effective immediately after the effective date of such Adjustment Event retroactive to the
record date, if any, for such Adjustment Event.

 

(ii) Adjustment
of Exercise Price. Whenever the number of Warrant Shares purchasable upon the exercise of each Warrant is adjusted pursuant
to Section 7(a)(i), the Exercise Price for each Warrant Share payable upon exercise of each Warrant shall be adjusted by multiplying
such Exercise Price immediately prior to such adjustment by a fraction, the numerator of which shall be the number of shares of
Common Stock purchasable upon the exercise of each Warrant immediately prior to such adjustment, and the denominator of which shall
be the number of shares of Common Stock so purchasable immediately thereafter.

 

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(iii) Adjustments
for Consolidation, Merger, Sale of Assets, Reorganization, etc. In case the Company (a) consolidates with or merges into any
other corporation and is not the continuing or surviving corporation of such consolidation of merger, or (b) permits any other
corporation to consolidate with or merge into the Company and the Company is the continuing or surviving corporation but, in connection
with such consolidation or merger, the Common Stock is changed into or exchanged for stock or other securities of any other corporation
or cash or any other assets, or (c) transfers all or substantially all of its properties and assets to any other corporation, or
(d) effects a capital reorganization or reclassification of the capital stock of the Company in such a way that holders of Common
Stock shall be entitled to receive stock, securities, cash and/or assets with respect to or in exchange for Common Stock, then,
and in each such case, proper provision shall be made so that, upon the basis and upon the terms and in the manner provided in
this subsection 7(a)(iii), the Registered Holder, upon the exercise of this Warrant at any time after the consummation of such
consolidation, merger, transfer, reorganization or reclassification, shall be entitled to receive (at the aggregate Exercise Price
in effect for all shares of Common Stock issuable upon such exercise immediately prior to such consummation as adjusted to the
time of such transaction), in lieu of shares of Common Stock issuable upon such exercise prior to such consummation, the stock
and other securities, cash and/or assets to which such holder would have been entitled upon such consummation if the Registered
Holder had so exercised this Warrant immediately prior thereto (subject to adjustments subsequent to such corporate action as nearly
equivalent as possible to the adjustments provided for in this Section).

 

(iv) De
Minimis Adjustments. No adjustment in the Exercise Price and number of Warrant Shares purchasable hereunder shall be required
unless such adjustment would require an increase or decrease of at least $0.001 in the Exercise Price; provided, however, that
any adjustments which by reason of this Section 7(a)(iv) are not required to be made shall be carried forward and taken into account
in any subsequent adjustment. All calculations shall be made to the nearest full share.

 

(b) Notice
of Adjustment; Notice of Replacement. (i) Whenever the number of Warrant Shares purchasable upon the exercise of each Warrant
or the Exercise Price is adjusted, as herein provided, the Company shall promptly notify the Registered Holder in writing (such
writing referred to as an “Adjustment Notice”) of such adjustment or adjustments and shall deliver to such Registered
Holder a statement setting forth the number of shares of Common Stock purchasable upon the exercise of each Warrant and the Exercise
Price after such adjustment, setting forth a brief statement of the facts requiring such adjustment and setting forth the computation
by which such adjustment was made. (ii) In the event of an IPO, the Company will provide the Registered Holder with notice of the
Exercise Price established pursuant to the IPO and a replacement warrant evidencing the same within ten (10) Business Days after
the closing of the IPO, or in the event that the IPO does not occur, within fifteen (15) Business Days after the closing of the
Next Financing.

 

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(c) Other
Notices. In case at any time:

 

(i) the
Company shall declare any cash dividend on its Common Stock;

 

(ii) the
Company shall pay any dividend payable in stock upon its Common Stock or make any distribution (other than regular cash dividends)
to the holders of its Common Stock;

 

(iii) the
Company shall offer for subscription pro rata to all of the holders of its Common Stock any additional shares of stock of
any class or other rights;

 

(iv) the
Company shall authorize the distribution to all holders of its Common Stock of evidences of its indebtedness or assets (other than
cash dividends or cash distributions payable out of earnings or earned surplus or dividends payable in Common Stock);

 

(v) there
shall be any capital reorganization, or reclassification of the capital stock of the Company, or consolidation or merger of the
Company with another corporation (other than a subsidiary of the Company in which the Company is the surviving or continuing corporation
and no change occurs in the Company’s Common Stock), or sale of all or substantially all of its assets to another corporation;
or

 

(vi) there
shall be a voluntary or involuntary dissolution, liquidation, bankruptcy, assignment for the benefit of creditors, or winding up
of the Company; then, in any one or more of said cases the Company shall give written notice, addressed to the Registered Holder
at the address of such Registered Holder as shown on the books of the Company, of (1) the date on which the books of the Company
shall close or a record shall be taken for such dividend, distribution or subscription rights, or (2) the date (or, if not then
known, a reasonable approximation thereof by the Company) on which such reorganization, reclassification, consolidation, merger,
sale, dissolution, liquidation, bankruptcy, assignment for the benefit of creditors, winding up or other action, as the case may
be, shall take place. Such notice shall also specify (or, if not then known, reasonably approximate) the date as of which the holders
of Common Stock of record shall participate in such dividend, distribution or subscription rights, or shall be entitled to exchange
their Common Stock for securities or other property deliverable upon such reorganization, reclassification, consolidation, merger,
sale, dissolution, liquidation, bankruptcy, assignment for the benefit of creditors, winding up, or other action, as the case may
be. Such written notice shall be given (except as to any bankruptcy proceeding) at least five (5) days prior to the action in question
and not less than five (5) days prior to the record date or the date on which the Company’s transfer books are closed in
respect thereto. Such notice shall also state that the action in question or the record date is subject to the effectiveness of
a registration statement under the Securities Act of 1933, as amended (the “1933 Act”), or to a favorable vote of stockholders,
if either is required.

 

(d) Statement
on Warrants. The form of this Warrant need not be changed because of any change in the Exercise Price or in the number or kind
of shares purchasable upon the exercise of a Warrant. However, the Company may at any time in its sole discretion make any change
in the form of the Warrant that it may deem appropriate and that does not affect the substance thereof and any Warrant thereafter
issued, whether in exchange or substitution for any outstanding Warrant or otherwise, may be in the form so changed.

 

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(e) Fractional
Interest. The Company will not be required to issue fractional Warrant Shares on the exercise of the Warrants. The number of
full Warrant Shares which shall be issuable upon such exercise shall be computed on the basis of the aggregate number of whole
shares of Common Stock purchasable on the exercise of the Warrants so presented. If any fraction of a share of Common Stock would,
except for the provisions of this Section 7(e) be issuable on the exercise of the Warrants (or specified proportion thereof), the
Company shall pay an amount in cash calculated by it to be equal to the then fair value of one share of Common Stock, as determined
by the Board of Directors of the Company in good faith, multiplied by such fraction computed to the nearest whole cent.

 

(f) Subsequent
Equity Sales. If the Company or any Subsidiary thereof, as applicable, at any time while this Warrant is outstanding, shall
sell or grant any option to purchase, or sell or grant any right to reprice, or otherwise dispose of or issue (or announce any
offer, sale, grant or any option to purchase or other disposition) any Common Stock or Common Stock Equivalents, at an effective
price per share less than the Exercise Price then in effect (such lower price, the “Base Share Price” and such
issuances collectively, a “Dilutive Issuance”) (it being understood and agreed that if the holder of the Common
Stock or Common Stock Equivalents so issued shall at any time, whether by operation of purchase price adjustments, reset provisions,
floating conversion, exercise or exchange prices or otherwise, or due to warrants, options or rights per share which are issued
in connection with such issuance, be entitled to receive shares of Common Stock at an effective price per share that is less than
the Exercise Price, such issuance shall be deemed to have occurred for less than the Exercise Price on such date of the Dilutive
Issuance at such effective price), then simultaneously with the consummation of each Dilutive Issuance the Exercise Price shall
be reduced and only reduced to equal the Base Share Price. Such adjustment shall be made whenever such Common Stock or Common Stock
Equivalents are issued; provided that if such Common Stock or Common Stock Equivalents are issued in tranches such adjustment shall
be made at the first closing of such issuance. Notwithstanding the foregoing, no adjustments shall be made, paid or issued under
this Section 7(f) in respect of an Exempt Issuance (as defined below). The Company shall notify the Holder, in writing, no later
than the Business Day following the issuance or deemed issuance of any Common Stock or Common Stock Equivalents subject to this
Section 7(f), indicating therein the applicable issuance price, or applicable reset price, exchange price, conversion price and
other pricing terms (such notice, the “Dilutive Issuance Notice”). For purposes of clarification, whether or
not the Company provides a Dilutive Issuance Notice pursuant to this Section 7(f), upon the occurrence of any Dilutive Issuance,
the Holder is entitled to receive Warrant Shares based upon the Base Share Price regardless of whether the Holder accurately refers
to the Base Share Price in the Form of Election to Purchase. “Exempt Issuance” means the issuance of (i) securities
issued under any equity incentive plan of the Company and any amendments thereto approved by the Board of Directors of the Company,
including securities issuable upon conversion or exercise of such securities, (ii) securities issued for consideration other than
cash pursuant to a strategic arrangement, joint venture, merger, consolidation, acquisition, or similar business combination approved
by the Board of Directors of the Company, or (iii) securities issued hereunder or under the Securities Agreement or upon the exercise
or exchange of or conversion of any securities issued hereunder or under the Securities Agreement and/or other securities exercisable
or exchangeable for or convertible into shares of Common Stock issued and outstanding on the date hereof, provided that such securities
have not been amended since the date hereof to increase the number of such securities or to decrease the exercise price, exchange
price or conversion price of such securities. Notwithstanding the foregoing, this Section 7(f) shall not apply if the Registration
Statement (as defined in the Securities Agreement) may be used by the Holder to re-sell the Warrant Shares.

 

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Section 8.No
Rights or Liabilities as a Stockholder. The Registered Holder shall not be entitled to vote or be deemed the holder of Common
Stock or any other securities of the Company which may at any time be issuable on the exercise hereof, nor shall anything contained
herein be construed to confer upon the holder of this Warrant, as such, the rights of a stockholder of the Company or the right
to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or give or withhold
consent to any corporate action or to receive notice of meetings or other actions affecting stockholders (except as provided herein),
or to receive dividends or subscription rights or otherwise, until the Date of Exercise shall have occurred. No provision of this
Warrant, in the absence of affirmative action by the Registered Holder hereof to purchase shares of Common Stock, and no mere enumeration
herein of the rights and privileges of the Registered Holder, shall give rise to any liability of such holder for the Exercise
Price or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

 

Section 9.Transfer
Restrictions; Registration of the Warrant and Warrant Shares.

 

(a) Neither
the Warrant nor the Warrant Shares have been registered under the 1933 Act. The Registered Holder, by acceptance hereof, represents
that it is acquiring this Warrant to be issued to it for its own account and not with a view to the distribution thereof, and agrees
not to sell, transfer, pledge or hypothecate this Warrant, any purchase rights evidenced hereby or any Warrant Shares unless a
registration statement is effective for this Warrant or the Warrant Shares under the 1933 Act, or in the opinion of such Registered
Holder’s counsel reasonably satisfactory to the Company, a copy of which opinion shall be delivered to the Company, such
registration is not required as some other exemption from the registration requirement of the 1933 Act and applicable laws is available.

 

(b) Subject
to the provisions of the following paragraph of this Section 9, each Certificate for Warrant Shares shall be stamped or otherwise
imprinted with a legend in substantially the following form:

 

THE SHARES REPRESENTED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR APPLICABLE STATE SECURITIES
LAWS AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
FOR SUCH SECURITIES UNDER THE 1933 ACT, AN OPINION OF COUNSEL, SATISFACTORY TO THE ISSUER HEREOF, TO THE EFFECT THAT REGISTRATION
IS NOT REQUIRED UNDER THE 1933 ACT AS SOME OTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND APPLICABLE LAWS
IS AVAILABLE.

 

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(c) The
restrictions and requirements set forth in the foregoing paragraph shall apply with respect to Warrant Shares unless and until
such Warrant Shares are sold or otherwise transferred pursuant to an effective registration statement under the 1933 Act or are
otherwise no longer subject to the restrictions of the 1933 Act, at which time the Company agrees to promptly cause such restrictive
legends to be removed and stop transfer restrictions applicable to such Warrant Shares to be rescinded.

 

Section 10.Notices.
All notices and other communications relating to this Warrant shall be in writing and shall be deemed to have been duly given if
delivered personally or sent by United States certified or registered first-class mail, postage prepaid, return receipt requested,
or overnight air courier guaranteeing next day delivery to the parties hereto at the following addresses or at such other address
as any party hereto shall hereafter specify by notice to the other party hereto:

 

(a) If
to the Registered Holder of this Warrant or the holder of the Warrant Shares, addressed to the address of such Registered Holder
or holder as set forth on books of the Company or otherwise furnished by the Registered Holder or holder to the Company.

 

(b) If
to the Company, addressed to:

 

Hyrecar Inc

355 South Grand Avenue, Suite 1650

Los Angeles, CA 90071

Attn: Joseph Furnari, Chief Executive Officer and Chief Financial Officer

Telephone: (213) 839-6932

Email: joe@hyrecar.com

 

A notice or communication will be effective
(i) if delivered in person or by overnight courier, on the business day it is delivered, and (ii) if sent by registered or certified
mail, the earlier of the date of actual receipt by the party to whom such notice is required to be
given or three (3) days after deposit in the United States mail.

 

Section 11.Binding
Effect. This Warrant shall be binding upon and inure to the sole and exclusive benefit of the Company, its successors and assigns,
and the holder or holders from time to time of this Warrant and the Warrant Shares.

 

Section 12.Survival
of Rights and Duties. This Warrant shall terminate and be of no further force and effect on the earlier of (i) 5:00 p.m., Pacific
Standard Time, on the Expiration Date and (ii) the date on which this Warrant and all purchase rights evidenced hereby have been
exercised, except that the provisions of Section 9 hereof shall continue in full force and effect after such termination date.

 

Section 13.Governing
Law. This Warrant shall be governed and controlled as to the validity, enforcement, interpretations, construction and effect
and in all other aspects by the substantive laws of the State of New York. In any action between or among any of the parties, whether
arising out of this Warrant or otherwise, each of the parties irrevocably consents to the exclusive jurisdiction and venue of the
federal and state courts located in New York County, New York. Each party hereto hereby irrevocably waives, to the fullest extent
permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Warrant
or the transactions contemplated hereby.

 

Section 14.Section
Headings. The Section headings in this Warrant are for purposes of convenience only and shall not constitute a part hereof.

 

[Signature Page Follows]

 

    Warrant – Page 10

     

    

 

IN WITNESS WHEREOF,
Hyrecar Inc has caused this Warrant to be duly executed in its corporate name by its officer thereunto duly authorized as of the
date first above indicated.

 

	 	HYRECAR INC
	 	 
	 	By:	 
	 	 	Joseph Furnari
	 	 	CEO and CFO

 

    Warrant – Page 11

     

    

 

FORM OF ELECTION TO PURCHASE

 

(To Be Executed Upon Exercise of this Warrant)

 

To Hyrecar Inc:

 

The undersigned, the
record holder of this Warrant (Warrant No. __), hereby irrevocably elects to exercise the right, represented
by this Warrant, to purchase ____ of the Warrant Shares and herewith and hereby tenders payment for such Warrant Shares:

 

☐ in lawful money of
the United States to the order of Hyrecar Inc of $_______; or

 

☐ the withholding of
such number of Warrant Shares equal to the aggregate Fair Market Value as of the date hereof equal to the Aggregate Exercise
Price, calculated in accordance with Section 3 hereof.

 

The
undersigned requests that certificates for such shares be issued in the name of:

 

 

	 	 	 
	 	 	 
	 	 	 
	(Please print name and address	 	Social Security or Tax Identification No.

 

In the
event that not all of the purchase rights represented by the Warrant are exercised, a new Warrant, substantially identical to the
attached Warrant, representing the rights formerly represented by the attached Warrant which have not been exercised, shall be
issued in the name of and delivered to:

 

 

 

	 	 	 	 
	
        (Please
print name and address
	 	Social Security or Tax Identification No.
	 	 	 	 
	Dated:	 	Name of Holder (Print):
	 	 	 	 
	 	 	By:	       
	 	 	 	 
	 	 	(Name):	 
	 	 	 	 
	 	 	(Title):	 

 

    Warrant – Page 12

     

    

 

FORM OF ASSIGNMENT

 

FOR VALUE RECEIVED,
hereby sells, assigns and transfers to each assignee set forth below all of the rights of the undersigned
under the attached Warrant (Warrant No.) with respect to the number of shares of Common Stock covered thereby set forth
opposite the name of such assignee unto:

 

	Name of Assignee	 	Address	 	Number of Shares of Common Stock
	 	 	 	 	 

 

If the total of said
purchase rights represented by the Warrant shall not be assigned, the undersigned requests that a new Warrant Certificate evidencing
the purchase rights not so assigned be issued in the name of and delivered to the undersigned.

 

	Dated:_________________	Name of Holder (Print):________________________

 

	 	 
	 	(Signature of Holder)

 

 

Warrant –
Page 13Exhibit 10.1

 

Hyrecar
Inc

555
W. 5th Street

Los
Angeles, CA 90013

 

September
12, 2016

 

Joseph
Furnari

 

Dear
Mr. Furnari:

Hyrecar
Inc, a Delaware corporation (the “Company”), is pleased to offer you employment as its Chief Financial Officer,
reporting to the Company’s Board of Directors (“Board”). This is an offer of at will employment and is
subject to the terms and conditions set forth in this letter agreement (this “Letter Agreement”) and may be
terminated by the Company at any time, for any reason, with or without cause.

 

1. Position.
Your title will be Chief Financial Officer. This is a full-time position. While you are an employee of the Company, you will
not engage in any other employment, consulting or other business activity (whether full-time or part-time) or serve as a director
on the board of any other company (“External Activities”) in each case which (a) would create a conflict of
interest with the Company, or (b) is not approved by the Board in a written acknowledgment. By signing this Letter Agreement,
you confirm to the Company that you currently have no such External Activities and that you have no contractual commitments or
other legal obligations that would prohibit you from performing or would materially limit your capability to perform your duties
for the Company.

 

2. Cash
Compensation. The Company will pay you a base salary at the annual rate of $48,000, payable in accordance with the Company’s
standard payroll schedule. In addition, subject to the discretion of the Board, you will be considered for an annual incentive
bonus, typically for each fiscal year of the Company.

 

3. Employee
Benefits. As a regular employee of the Company, you will be eligible to participate in Company-sponsored benefits, as in effect
from time to time. In addition, you will be entitled to paid vacation in accordance with the Company’s vacation policy,
as in effect from time to time.

 

4. Restricted
Stock Award. Subject to the approval of the Board, you will be issued 900,000 restricted shares (the “Shares”)
of the Company’s common stock, par value $0.00001 per share (the “Award”) under the Company’s 2016
Equity Incentive Plan (the “Plan”). The Award will be subject to the terms and conditions of the Plan, as set
forth in the Plan and the applicable Restricted Stock Award Agreement. The Shares of restricted stock shall initially be unvested
and forfeitable. The Shares shall vest, the restrictions thereon shall lapse and such Shares shall become nonforfeitable
according to the following schedule, subject to your continuous service with the Company through and including the applicable
vesting date: (i) 33% of the Shares shall vest on the consummation of a sale of securities for aggregate gross proceeds
of at least $250,000 in one or more transactions and (ii) the remaining 67% of the Shares shall vest in 36 successive equal monthly
installments commencing on May 1, 2016 and vesting in full on April 30, 2019.

 

     

     

    

  

Joseph Furnari

At Will Employment Offer Letter

Page | 2

 

5. Nondisclosure
of Confidential Information. You shall not, without the prior written consent of the Board, use, divulge, disclose or make
accessible to any other person, any Confidential Information pertaining to the business or affairs of the Company, except (i)
while employed by the Company, in the business of and for the benefit of the Company, or (ii) when required to do so by a court
of competent jurisdiction, by any governmental agency having supervisory authority over the business of the Company, or by any
administrative body or legislative body with jurisdiction to order you to divulge, disclose or make accessible such information.

 

For
purposes hereof, “Confidential Information” shall mean non-public information concerning financial data, strategic
business plans, sales or marketing plans, or other proprietary marketing data, proprietary information, contracts or agreements
with customers, vendors or consultants, and all other non-public, proprietary and confidential information of the Company that
in any case is not otherwise available to the public (other than by your breach of the terms hereof).

 

6. Restrictive
Covenants.

 

6.1 Non-Solicitation.

 

a) In
consideration of your employment with the Company, participation in any stock, bonus or other incentive compensation plans of
the Company, which you acknowledge is of direct benefit to you, you hereby covenant that, during the period commencing on the
date hereof and ending on the two (2) year anniversary of your termination (the “Restricted Period”), you and
your Affiliates (as defined herein) shall not directly or indirectly, through any other person:

 

(i)
(1) employ, solicit or induce any individual who is, or was at any time during the one (1) year period prior to your termination,
an employee or consultant of the Company, (2) cause such individual to terminate or refrain from renewing or extending his or
her employment by or consulting relationship with the Company, or (3) cause such individual to become employed by or enter into
a consulting relationship with the Company and its Affiliates or any other individual, person or entity; or

 

(ii)
solicit, persuade or induce any Customer to terminate, reduce or refrain from renewing or extending its contractual or other relationship
with the Company in regard to the purchase of products or services, performed, manufactured, marketed or sold by the Company or
any other person in regard to the purchase of products or services similar or identical to those performed, manufactured, marketed
or sold, by the Company. For purposes hereof, “Customer” means any individual, person or entity which is a customer
of the Company or which was a customer of the Company within one (1) year prior to the termination of employment hereunder.

 

(iii)
whether as owner, consultant, executive, partner, member, manager, officer, director, venturer, agent, through stock ownership,
investment of capital, lending of money or property, rendering of services, or otherwise, engage or assist others to engage in
the business of ride sharing in the Territory; provided, that you may own up to three (3%) percent of the outstanding shares of
a company engaged in such business if such shares are listed on national securities exchange.

  

     

     

    

 

Joseph Furnari

At Will Employment Offer Letter

Page | 3

 

6.2 Non-Disparagement.
You agree that neither you nor any of your Affiliates shall (i) in any way publicly disparage the Company, its equity holders,
officers, directors, employees, agents or Affiliates, (ii) cause embarrassment or public humiliation to such persons or (iii)
make any public statement that is adverse, inimical or otherwise detrimental to the interests of any such persons or the Company’s
business at any time, including without limitation, during periods after the termination of this Agreement.

 

6.3 Certain
Definitions. The following terms shall have the following meanings when used in this Agreement:

 

a) “Affiliate”
means, as to any person, a person that directly or indirectly through one or more intermediaries, controls or is controlled by,
or is under common control with, the person specified. With respect to any natural person, the term Affiliate shall also include
any member of said person’s immediate family, any family limited partnership or similar entity for said person and any trust,
voting or otherwise, of which said person is a trustee or of which said person or any of said person’s immediate family
is a beneficiary. With respect to any trust, the term Affiliate shall also include any beneficiary or trustee of such trust. For
purposes of the foregoing, the term “control” and variations thereof means the possession of the power to direct or
cause the direction of the management or policies of a person, whether through the ownership of voting securities, by contract
or otherwise.

 

b) “Territory”
means the United States.

 

7. Tax
Matters. 

 

7.1 Withholding.
All forms of compensation referred to in this Letter Agreement are subject to reduction to reflect applicable withholding and
payroll taxes and other deductions required by law.

 

7.2 Tax
Advice. You are encouraged to obtain your own tax advice regarding your compensation from the Company. You agree that the
Company does not have a duty to design its compensation policies in a manner that minimizes your tax liabilities, and you will
not make any claim against the Company or its Board related to tax liabilities arising from your compensation.

 

8. Interpretation,
Amendment and Enforcement. This Letter Agreement supersedes and replaces any prior agreements, representations or understandings
(whether written, oral, implied or otherwise) between you and the Company and constitutes the entire agreement between you and
the Company regarding the subject matter set forth herein. This Letter Agreement may not be amended or modified, except by an
express written agreement signed by both you and a duly authorized officer of the Company. The terms of this Letter Agreement
and the resolution of any disputes as to the meaning, effect, performance or validity of this Letter Agreement or arising out
of, related to, or in any way connected with, this Letter Agreement, your employment with the Company or any other relationship
between you and the Company (the “Disputes”) will be governed by California law, excluding laws relating to
conflicts or choice of law. You and the Company submit to the exclusive personal jurisdiction of the federal and state courts
located in Los Angeles County, California, in connection with any Dispute or any claim related to any Dispute. You acknowledge
and agree that if any term or provision of this Agreement is deemed invalid or unenforceable by a court of competent jurisdiction,
the remainder of this Agreement shall continue in full force and effect.

  

     

     

    

 

Joseph Furnari

At Will Employment Offer Letter

Page | 4

 

Please
contact me if you have any questions or concerns.

 

Sincerely,

  

	HYRECAR INC	 
	 	 
	/s/ Abhishek Arora	 
	Abhishek Arora, Chief Operating Officer	 

 

	I have read and understood, and herby accept this employment offer:
	 	 
	/s/ Joseph Furnari	 
	Name: 	Joseph Furnari

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