Document:

Exhibit 10.1

      

       

      

      EMPLOYMENT AGREEMENT

       

      THIS EMPLOYMENT AGREEMENT (this “Agreement”) is executed
        as of this 2nd day of October, 2019 (the “Effective Date”), by and between Camille G. Cutino (“Employee”) and CAI International, Inc., a Delaware corporation
        (the “Company”).

       

      AGREEMENT

       

      In consideration of the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are
        hereby acknowledged, the parties hereto hereby agree as follows:

       

      1.           Duties and
          Scope of Employment.

       

      (a)         Position.  As Vice President, Operations and Human Resources, Employee shall (i) oversee the planning, control and execution of global container operations and (ii) plan, develop and execute the management
          of the human resources functions of the company, working with the President and executive leadership to effectively manage the business needs and strategic global human resource goals for all business divisions. Employee shall report directly to
          the President and Chief Executive Officer of the Company, and shall be responsible for any such other duties, including management of personnel, as the President and Chief Executive Officer may specify from time to time, provided that such duties
          are consistent with Employee’s position as an executive officer of the Company.

       

      (b)         Obligations.  During the term of her employment under this Agreement, Employee shall perform and discharge well and faithfully her duties and shall devote her full business efforts and time to the
          Company.  The foregoing, however, shall not preclude Employee from engaging in civic or charitable activities or from serving on the boards of directors of other entities, as long as:  (i) such activities and service do not materially interfere
          or conflict with her responsibilities to the Company; and (ii) Employee obtains the prior approval of the Board before accepting any position on a board of directors of a for‐profit company.

        

      

      2.           Base Salary.

       

      During her employment under this Agreement, the Company agrees to pay to Employee as compensation for her services as of the Effective Date an
        annual base salary (“Base Salary”) of $281,242 payable in twenty‐four (24) equal bi‐monthly installments.  For all purposes of this Agreement, the term “Base
        Salary” shall refer to the base salary in effect from time to time.

       

      During the term of her employment under this Agreement, Employee’s Base Salary will be reviewed annually and is subject to annual increase at the
        discretion of President and Chief Executive Officer and as approved by the Company’s board of directors (the “Board”).

       

      
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      3.           Employee
          Benefits.

       

      (a)         General.  During the term of her employment under this Agreement, Employee shall be eligible to participate in the employee benefit plans and executive compensation programs made available by the Company
          to its executive officers generally, including (without limitation) any of the following plans if and when adopted and made available by the Board:  pension plans, savings plans, deferred compensation plans, life, disability, health, accident and
          other insurance programs, paid vacations, paid parking at the Company’s office building and similar plans or programs subject in each case to the generally applicable terms and conditions of the plan in question and to the determination of any
          committee administering such plan or program.

       

      (b)         Death and Disability.  Subject to Employee’s insurability, the Company will (i) maintain a policy of long‐term disability insurance providing for disability coverage in accordance with the policy terms and
          (ii) reimburse Employee for the cost of life insurance equal to Five Hundred Thousand dollars $500,000 in coverage.

       

      (c)          Vacation.  Employee shall be entitled to paid vacation accruing at the rate of 20 days per calendar year.  No more than 20 days of accrued vacation shall carry forward to the next year.

       

      4.           Equity
          Compensation.

       

      At the time of execution of this Agreement, the Board contemplates making stock option and other equity grants to Employee on an annual basis. 
        Any such grants shall be at the discretion of the Board, and subject to the availability of sufficient shares of stock under the Plan.  The exact size and terms of any future stock option or other equity grant will be determined by the Board at the
        time of the grant, in the Board’s discretion.

       

      5.           Annual Bonus

       

      For each Fiscal Year (as defined below) during the term of this Agreement, Employee shall be eligible to earn an annual cash bonus award that is
        determined pursuant to and paid in accordance with an annual bonus plan to be adopted by the Board for the Company’s executive officers.  For the 2019 Fiscal Year, Employee shall be eligible for a target annual bonus of up to 40% of her Base
        Salary.  The Employee’s bonus for the 2019 Fiscal Year will be based on criteria developed by the President and Chief Executive Officer and the Compensation Committee of the Board of Directors (in their discretion).  Thereafter, future performance
        objectives will also be prescribed and established by the compensation committee and approved by the Board, after consultation with Employee.  Except as provided in Section 9(b)(iii), no bonus shall be payable under this Section 5 unless Employee’s
        employment under this Agreement continues through the end of the Fiscal Year to which the bonus relates.

       

      Any amounts due to the Employee under this Section 5 shall be paid within the two and one‐half (2 1/2) month period immediately following the
        Fiscal Year to which the bonus relates.  For all purposes of this Agreement, “Fiscal Year” shall mean the Company’s fiscal year ending on December 31.

       

      6.           Business
          Expenses and Travel.

       

      During the term of her employment under this Agreement, Employee shall be authorized to incur necessary and reasonable travel, entertainment and
        other business expenses in connection with her duties hereunder.  The Company shall reimburse Employee for such expenses upon presentation of any itemized account and appropriate supporting documentation, all in accordance with the Company’s
        generally applicable policies.

       

      
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      7.           Term of
          Agreement.

       

      Subject to the basic rule set forth below in Section 8(a), this Agreement shall continue, beginning on the Effective Date, until October 1, 2022. 
        If not terminated in writing by either party at least ninety (90) days prior to the end of the applicable term, this Agreement shall automatically renew for an additional thirty‐six (36) months.

       

      8.           Termination.

       

      (a)          Basic Rule.  Employee is an employee at will.  Notwithstanding any other provision of this Agreement, either party may terminate Employee’s employment at any time, with or without cause.

       

      (b)         Termination by the Company for Cause.  The Company, at its option and without prejudice to any other remedy to which the Company may be entitled either at law, in equity, or under this Agreement, may
          terminate Employee’s employment at any time for Cause by giving Employee written notice specifying the Cause event.  For all purposes under this Agreement, “Cause”
          shall mean:

       

      (i)          A failure by Employee to substantially perform her
          material duties hereunder which is not cured within thirty (30) days after notice from the Company, provided that any termination for any such failure due to Disability (defined below) shall be made, if at all, in accordance with Section
          8(c)(ii);

       

      (ii)         Employee’s commission of material dishonesty,
          fraud or misrepresentation or other act of moral turpitude;

       

      (iii)        An intentional act by Employee (other than one
          constituting a business judgment that was reasonable at the time or which was previously approved by the Board, or gross misconduct by Employee, which (in each case) is seriously injurious to the Company);

       

      (iv)        A material breach by Employee of this Agreement
          which is not cured within thirty (30) days after notice from the Company; or

       

      (v)         A material and willful violation of federal or
          state law or regulation applicable to the business of the Company.

       

      At the time of termination for Cause, the Company shall advise Employee of the provision of this Section 8(b) under which such termination for
        Cause is based.

       

      (c)          Termination for Death or Disability or Company Insolvency.  In addition to termination pursuant to Section 8(a), Company may terminate Employee’s employment for the following reasons:

       

      
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      (i)          Death.  Upon the event of Employee’s death, Employee’s employment with the Company shall be considered automatically terminated.

       

      (ii)         Disability.  Upon the event of Employee’s Disability, Employee’s employment with the Company shall terminate thirty (30) days after the Company gives Employee written notice of such termination.  For all purposes of
          this Agreement, “Disability” shall mean Employee’s incapacity due to physical or mental illness or impairment which (in the reasonable and informed opinion
          of the Board of Directors) makes Employee unable to perform substantially her duties under this Agreement for a continuous period of at least 180 days.  The Company acknowledges that the Americans with Disabilities Act (“ADA”) provides for
          accommodations of disabled employees, and the Company affirms that in taking any action under this Section 8(c)(ii) it will comply with the ADA.

       

      (iii)      Company Insolvency.  If the Company becomes insolvent or the Company seeks relief (or an order is entered against the Company) under any bankruptcy, reorganization, receivership, transfer for the benefit of creditors
          or other debtor relief statute or arrangement, Employee’s employment with the Company shall terminate thirty (30) days after the Company gives Employee written notice of the termination.

       

      (d)         Termination for Good Reason.  Notwithstanding anything to the contrary herein, Employee may terminate her employment for Good Reason in accordance with this Section 8(d).  For purposes of this Agreement, “Good Reason” shall mean the occurrence of any of the following events, without the consent of Employee:

       

      (i)          any diminution in Employee’s Base Salary, except as
          part of a program whereby salaries of all of the Company’s senior officers are reduced for economic reasons;

       

      (ii)         any material diminution in Employee’s
          responsibilities, authority, duties, reporting or

       

      (iii)        any action or inaction that constitutes a material
          breach by the Company of this Agreement, or

       

      (iv)        a material change in the geographic location at
          which Employee must perform her duties under this Agreement, except for office relocation within the San Francisco Bay area; provided that Employee hereby acknowledges and agrees that she may be required to travel extensively in connection with
          the performance of her duties under this Agreement and that any such travel requirement will not constitute a material change in the geographic location at which Employee must perform her duties under this Agreement.

       

      Notwithstanding any provision in this Agreement to the contrary, termination of Employee’s employment will not be for Good Reason unless (i)
        Employee notifies the Company in writing of the existence of the condition which Employee believes constitutes Good Reason within ninety (90) days of the initial existence of such condition (which notice specifically identifies such condition),
        (ii) the Company fails to remedy such condition within thirty (30) days after the date on which it receives such notice (the “Remedial Period”), and (iii)
        Employee actually terminates employment within thirty (30) days after the expiration of the Remedial Period and before the Company remedies such condition.  If Employee terminates employment before the expiration of the Remedial Period or after the
        Company remedies the condition (even if after the end of the Remedial Period), then Employee’s termination will not be considered to be for Good Reason.  A termination of Employee’s employment for Good Reason hereunder shall be deemed a “Constructive Termination” for purposes of this Agreement.  Notwithstanding the foregoing, if at the time Employee terminates her employment with the Company for
        Good Reason any of the circumstances described in Section 8(b) then exist, Employee’s employment shall be deemed to have been terminated by the Company pursuant to such applicable Section, rather than pursuant to this Section 8(d) for all purposes
        of this Agreement.

       

      
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      9.           Payments upon
          Certain Terminations of Employment.

       

      If, during the term of this Agreement (including any renewal thereof), Employee’s employment is terminated, Employee shall be entitled to receive
        the following:

       

      (a)         Company Termination Under Section 8(b) or 8(c)(iii).  In the event Employee’s employment is terminated (or deemed terminated) by the Company pursuant to Section 8(b) or Section 8(c)(iii) or in the event
          Employee terminates her employment with the Company other than for Good Reason, Employee shall be entitled to all accrued compensation and all other accrued benefits through the effective date of termination, but shall not be entitled to any
          other compensation or benefits, and shall not be entitled to any bonus under Section 5 for the Fiscal Year in which the termination occurs unless it occurs on the last day of such Fiscal Year.  All accrued compensation and all other accrued
          benefits shall be paid to Employee within thirty (30) days after the date on which Employee’s employment with the Company terminates.

       

      (b)         Company Termination Without Cause or Under Section 8(c)(i) or (ii) or Termination for Good Reason or following a Change in Control.  Subject to Section 11, in the event Employee’s employment is terminated
          (i) by the Company (A) without Cause or (B) pursuant to Section 8(c)(i) or (ii), or (C) in the event of a Change in Control and Employee’s employment is terminated by the company or a successor to the Company for any reason other than for Cause
          or pursuant to Section 8(c)(i) or (ii) within a period of twenty‐four months after the closing of a Change in Control, and none of the circumstances described in Section 8(b) or 8(c)(iii) then exists, or (ii) by Employee for Good Reason pursuant
          to Section 8(d) and none of the circumstances described in Sections 8(b) or 8(c)(iii) then exist, then, in addition to all accrued compensation and all other accrued benefits through the effective date of such termination, and (in the case of
          Sections 8(c)(i) and (ii) only) any death or disability benefits, respectively, Employee shall be entitled to the following payments and benefits:

       

      (i)          Severance Payment.  The Company shall pay Employee a lump sum amount equal to one hundred percent (100%) of Employee’s then current annual base salary and an amount equivalent to 1 year’s cash bonus (calculated on the
          basis of the average cash bonus received over a two year reference period), provided that, if employment is terminated solely in connection with a Change in Control, the Company shall pay Employee a lump sum amount equal to two hundred percent (200%) of Employee’s then current annual
          base salary calculated and an amount equivalent to 1 year’s cash bonus (calculated on the basis of the average cash bonus received over a two year reference period), in either case with such payment to be made within thirty (30) days after the
          date on which Employee’s employment with the Company terminates.  Notwithstanding the foregoing, Employee will not be entitled to any severance payment identified in this Subsection 9(b)(i) based upon a Change in Control if Employee continues to
          be employed by the Company, a successor to the Company or an affiliate of the Company, twenty‐four (24) months after the closing of the Change in Control.

       

      
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      For all purposes of this Agreement, “Change in Control”
        shall mean

       

      (x)          a merger or consolidation of the Company with or
          into any other company or other entity, if (after giving effect to the merger or consolidation) the stockholders of the Company immediately prior to the merger or consolidation would not be able to elect a majority of the Company’s board of
          directors immediately following the merger or consolidation;

       

      (y)          a sale in one transaction or a series of
          transactions undertaken with a common purpose of all or a controlling portion of the Company’s outstanding voting securities or such amount of the Company’s outstanding voting securities as would enable the purchaser to obtain the right to
          appoint a majority of the Company’s Board of Directors; or

       

      (z)          a sale, lease, exchange or other transfer in one
          transaction or a series of related transactions undertaken with a common purpose of all or substantially all of the Company’s assets.

       

      (ii)        Group Health, Life and Disability Insurance Coverage.  If Employee and her spouse and dependent children (as applicable) are eligible for, and timely (and properly) elect, to continue their coverage under the
          Company’s group health plans in accordance with Section 4980B(f) of the Code (“COBRA”), the Company will pay the premium for such coverage for whichever of the following periods is the shortest:  (A) the longer of (1) the remaining term of this Agreement or (2) a period of eighteen
          (18) months following the date of Employee’s termination of employment or (B) until Employee is no longer entitled to COBRA continuation coverage under the Company’s group health plans.  Notwithstanding anything to the contrary in this Section
          9(b)(ii), this Section 9(b)(ii) shall not require continuation of any coverage after death in the case of termination under Section 8(c)(i), but nothing in this sentence shall affect any benefits payable on account of death.

       

      (iii)       No Duty To Mitigate.  Employee shall not be required to mitigate the amount of any payment contemplated by this Section 9(b) (whether by seeking new employment or in any other manner), nor shall any payment under this
          Section 9(b) be reduced by any earnings that Employee may receive from any other source.

       

      10.         Proprietary
          Information.

       

      Employee agrees, during and after the term of her employment by the Company, to comply fully with the Company’s policies relating to
        non‐disclosure of the Company’s trade secrets and proprietary information and processes and hereby acknowledges and re‐affirms her obligations to the Company pursuant to that certain Employment, Confidential Information and Intellectual Property
        Assignment Agreement previously executed by Employee and attached hereto as Exhibit B.

       

      
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      11.         Section 280G

       

      (a)         In the event that the Employee becomes entitled to
          receive or receives any Payments and it is determined that, but for this Section 11(a), any of the Payments will be subject to any excise tax pursuant to Section 4999 of the Code or any similar or successor provision (the “Excise Tax”), the Company shall pay to the Employee either (i) the full amount of the Payments or (ii) an amount equal to the Payments, reduced by the minimum amount necessary to
          prevent any portion of the Payments from being an “excess parachute payment” (within the meaning of Section 280G) (the “Capped Payments”), whichever of the
          foregoing amounts results in the receipt by the Employee, on an after‐tax basis, of the greatest amount of Payments notwithstanding that all or some portion of the Payments may be subject to the Excise Tax.  For purposes of determining whether an
          Employee would receive a greater after‐tax benefit from the Capped Payments than from receipt of the full amount of the Payments, (i) there shall be taken into account any Excise Tax and all applicable federal, state and local taxes required to
          be paid by the Employee in respect of the receipt of such payments and (ii) such payments shall be deemed to be subject to federal income taxes at the highest rate of federal income taxation applicable to individuals that is in effect for the
          calendar year in which the benefits are to be paid, and state and local income taxes at the highest rate of taxation applicable to individuals in the state and locality of the Employee’s residence on the effective date of the Section 280G
          Transaction, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes (as determined by assuming that such deduction is subject to the maximum limitation applicable to itemized
          deductions under Section 68 of the Code and any other limitations applicable to the deduction of state and local income taxes under the Code).

       

      (b)        All calculations and determinations under this
          Section 11, including application and interpretation of the Code and related regulatory, administrative and judicial authorities, shall be made by an independent accounting firm or independent tax counsel appointed by the Company (the “Tax Advisor”).  All determinations made by the Tax Advisor under this Section 11 shall be conclusive and binding on both the Company and the Employee, and the
          Company shall cause the Tax Advisor to provide its determinations and any supporting calculations with respect to the Employee to the Company and the Employee.  The Company shall bear all fees and expenses charged by the Tax Advisor in connection
          with its services.  For purposes of making the calculations and determinations under this Section 11, after taking into account the information provided by the Company and the Employee, the Tax Advisor may make reasonable, good faith assumptions
          and approximations concerning the application of Sections 280G and 4999 of the Code.  The Company and the Employee shall furnish the Tax Advisor with such information and documents as the Tax Advisor may reasonably request to assist the Tax
          Advisor in making calculations and determinations under this Section 11.  In the event that Section 11(a) applies and a reduction is required to be applied to the Payments thereunder, the Payments shall be reduced by the Company in its reasonable
          discretion in the following order:  (i) reduction of any Payments that are subject to Section 409A of the Code on a pro‐rata basis or such other manner that complies with Code Section 409A, as determined by the Company, and (ii) reduction of any
          Payments that are exempt from Code Section 409A.

       

      (c)          Definitions.  For purposes of this Agreement, the
          following terms shall have the following meanings:

       

      
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      (i)          “Code” shall mean the Internal Revenue Code of 1986, as amended, and the Treasury regulations promulgated thereunder.

       

      (ii)         “Section 280G” shall mean Section 280G of the Code and the Treasury regulations promulgated thereunder or any similar or successor provision.

       

      12.         Section 409A

       

      The Company makes no representations or warranties to Employee with respect to any tax, economic or legal consequences of this Agreement or any
        payments or other benefits provided hereunder, including without limitation under Section 409A of the Code, and no provision of the Agreement shall be interpreted or construed to transfer any liability for failure to comply with Code Section 409A
        or any other legal requirements from Employee or any other individual to the Company or any of its affiliates.  However, the parties intend that this Agreement and the payments and other benefits provided hereunder be exempt from the requirements
        of Code Section 409A to the maximum extent possible, whether pursuant to the short‐term deferral exception described in Treasury Regulation Section 1.409A‐ l(b)(4), the involuntary separation pay plan exception described in Treasury Regulation
        Section 1.409A‐1(b)(9)(iii), or otherwise.  To the extent Code Section 409A is applicable to this Agreement (and such payments and benefits), the parties intend that this Agreement (and such payments and benefits) comply with the deferral, payout
        and other limitations and restrictions imposed under Code Section 409A.  Notwithstanding any other provision of this Agreement to the contrary, this Agreement shall be interpreted, operated and administered in a manner consistent with such
        intentions.  Without limiting the generality of the foregoing, and notwithstanding any other provision of this Agreement to the contrary, with respect to any payments and benefits under this Agreement to which Code Section 409A applies, all
        references in this Agreement to the termination of Employee’s employment are intended to mean Employee’s “separation from service,” within the meaning of Code Section 409A(a)(2)(A)(i).  In addition, if Employee is a “specified employee,” within the
        meaning of Code Section 409A(a)(2)(B)(i), then to the extent necessary to avoid subjecting Employee to the imposition of any additional tax under Code Section 409A, amounts that would otherwise be payable under this Agreement during the six- month
        period immediately following Employee’s “separation from service,” within the meaning of Section 409A(a)(2)(A)(i) of the Code, shall not be paid to Employee during such period, but shall instead be accumulated and paid to Employee (or, in the event
        of Employee’s death, Employee’s estate) in a lump sum on the first business day following the earlier of (a) the date that is six months after Employee’s separation from service or (b) Employee’s death.

       

      13.         Non‐Solicitation and Non‐Disparagement.

       

      (a)         Employee agrees that during the period of her
          employment with the Company or any of its subsidiaries and affiliates and for the one (1) year period immediately following termination of such employment
          (whether such termination with Cause, without Cause, with Good Reason, or for any other reason), the Employee shall not directly or indirectly engage in the recruiting, soliciting or inducing of any employee or employees of the Company to
          terminate their employment with or otherwise cease their relationship with the Company.

       

      
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      (b)         Employee and the Company agree that during
          Employee’s employment with the Company or any of its affiliates, the Employee and the Company will not make any disparaging comments regarding the other (including the Companies subsidiaries and affiliates) or make any disparaging comments
          concerning any aspect of the termination of the employment relationship.  The obligations of the Employee and the Company under this subsection shall not apply to disclosures required by applicable law, regulation or order of any court of
          governmental agency.

       

      14.         Successors.

       

      (a)          Company’s Successors.  Any successor to the Company (whether direct or indirect and whether by purchase, lease, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s
          business and/or assets shall assume this Agreement and agree expressly to perform this Agreement in the same manner and to the same extent as the Company would be required to perform it in the absence of a succession.  For all purposes under this
          Agreement, the term “Company” shall include any successor to the Company’s business and/or assets which executes and delivers the assumption agreement
          described in this subsection (a) or which becomes bound by this Agreement by operation of law.

       

      (b)         Employee’s Successors.  This Agreement and all rights of Employee hereunder shall inure to the benefit of, and be enforceable by, Employee’s personal or legal representatives, executors, administrators,
          heirs, distributees, devisees and legatees.

       

      15.         Notice.

       

      Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given when
        personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid.  In the case of Employee, mailed notices shall be addressed to him at the home address which he most recently communicated to
        the Company in writing.  In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Secretary.

       

      16.         Miscellaneous
          Provisions.

       

      (a)         Waiver.  No provision of this Agreement shall be modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by Employee and by authorized officer of the
          Company (other than Employee).  Except as provided herein, no waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or
          provision or of the same condition or provision at another time.

       

      (b)         Whole Agreement.  No agreements, representations or understanding (whether oral or written and whether express or implied) which are not expressly set forth in this Agreement have been made or entered into
          by either party with respect to the subject matter hereof.

       

      (c)         Choice of Law.  The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of California.

       

      
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      (d)         Severability.  The invalidity or enforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full
          force and effect.

       

      (e)        No Assignment of Benefits.  The rights of any person to payments or benefits under this Agreement shall not be made subject to option or assignment, either by voluntary or involuntary assignment or by
          operation of law, including (without limitation) bankruptcy, garnishment, attachment or other creditor’s process, and any action in violation of this subsection (e) shall be void.

       

      (f)          Limitation of Remedies.  If Employee’s employment hereunder terminates for any reason, Employee shall not be entitled to any payments, benefits, damages, awards or compensation other than as provided by
          this Agreement.

       

      (g)         Withholding.  The Company shall be entitled to deduct and withhold from any amounts payable under this Agreement such amounts as the Company is required to deduct or withhold therefrom under the Code or
          under any other applicable law.

       

      (h)          Captions.  Captions contained herein are inserted only as a matter of convenience and in no way define, limit or extend the scope or intent of any provision hereof.

       

      (i)           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.

       

      (j)          Arbitration.  Any dispute or claim arising under or relating to this Agreement (including without limitation the validity or scope of this Agreement or of any provision hereof or of this Section 17G) shall
          be determined exclusively by arbitration before a single arbitrator in accordance with the commercial arbitration rules of the American Arbitration Association.  In the event the parties cannot agree on an arbitrator within 10 days after either
          party makes a written call for arbitration hereunder, the arbitrator shall be appointed by the Executive Director of the Northern California office of the American Arbitration Association.

       

      
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      IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the day and
        year first above written.

       

      	 	
              CAI INTERNATIONAL, INC.

            
	 	 
	 	
              By:

            	/s/ Victor Garcia

            
	 	
              Name:  Victor Garcia

            
	 	
              Title:  President and Chief Executive Officer

            
	 	 
	 	
              EMPLOYEE:

            
	 	 
	 	
              /s/ Camille G. Cutino

              

            
	 	
              Camille G. Cutino

            

      

      

      
        
          	 	Enclosures:	
                  EXHIBIT A:  Employment, Confidential Information and Intellectual Property Assignment Agreement

                

        

      

       

      
         

          

        - 11 -FORM
OF UNDERWRITERS’ WARRANT AGREEMENT

 

THE
REGISTERED HOLDER OF THIS PURCHASE WARRANT BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE
WARRANT EXCEPT AS HEREIN PROVIDED AND THE REGISTERED HOLDER OF THIS PURCHASE WARRANT AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN,
PLEDGE OR HYPOTHECATE THIS PURCHASE WARRANT FOR A PERIOD OF ONE HUNDRED EIGHTY (180) DAYS FOLLOWING THE EFFECTIVE DATE (DEFINED
BELOW) TO ANYONE OTHER THAN (I) AEGIS CAPITAL CORP. OR AN UNDERWRITER OR A SELECTED DEALER IN CONNECTION WITH THE OFFERING, OR
(II) A BONA FIDE OFFICER OR PARTNER OF AEGIS CAPITAL CORP. OR OF ANY SUCH UNDERWRITER OR SELECTED DEALER.

 

THIS
PURCHASE WARRANT IS NOT EXERCISABLE PRIOR TO [●], 20201. VOID AFTER 5:00 P.M., EASTERN TIME, [●], 2024.

 

COMMON
SHARE PURCHASE WARRANT

 

For
the Purchase of [●] Common Shares

of

YAYYO,
INC.

 

1.
Purchase Warrant. THIS CERTIFIES THAT, in consideration of funds duly paid by or on behalf of AEGIS CAPITAL CORP. (“Holder”),
as registered owner of this Purchase Warrant (this “Purchase Warrant” or “Warrant”), to
YayYo, Inc., a corporation governed by the laws of the state of Delaware (the “Company”), Holder is entitled,
at any time or from time to time from [●], 2020 (the “Commencement Date”), and at or before 5:00 p.m.,
Eastern time, [●], 2024, which will be the five-year anniversary of the effective date of the Company’s Form S-1 registration
statement (File No. 333-224549) (such date, the “Effective Date”) (the “Expiration Date”),
but not thereafter, to subscribe for, purchase and receive, in whole or in part, up to [●] common shares of the Company,
par value $0.000001 (the “Shares”), subject to adjustment as provided in Section 6 hereof. If the Expiration
Date is a day on which banking institutions are authorized by law to close, then this Purchase Warrant may be exercised on the
next succeeding day which is not such a day in accordance with the terms herein. During the period ending on the Expiration Date,
the Company agrees not to take any action that would terminate this Purchase Warrant. This Purchase Warrant is initially exercisable
at $[●]2 per Share; provided, however, that upon the occurrence of any of the events specified
in Section 6 hereof, the rights granted by this Purchase Warrant, including the exercise price per Share and the number
of Shares to be received upon such exercise, shall be adjusted as therein specified. The term “Exercise Price”
shall mean the initial exercise price or the adjusted exercise price, depending on the context.

 

2.
Exercise.

 

2.1.
Exercise Form. In order to exercise this Purchase Warrant, the exercise form attached hereto as Exhibit A
must be duly executed and completed and delivered to the Company, together with this Purchase Warrant and payment of the Exercise
Price for the Shares being purchased payable in cash by wire transfer of immediately available funds to an account designated
by the Company or by certified check or official bank check. If the subscription rights represented hereby shall not be exercised
at or before 5:00 p.m., Eastern time, on the Expiration Date, this Purchase Warrant shall become and be void without further force
or effect, and all rights represented hereby shall cease and expire.

 

2.2.
Cashless Exercise. In lieu of exercising this Purchase Warrant by payment of cash or check payable to the order of the
Company pursuant to Section 2.1 above, Holder may elect to receive the number of Shares equal to the value of this Purchase
Warrant (or the portion thereof being exercised), by surrender of this Purchase Warrant to the Company, together with the exercise
form attached hereto, in which event the Company will issue to Holder Shares in accordance with the following formula:

 

X
=     Y(A-B)    

A

 

 

1
Date that is one year from the Effective Date. 

2
125% of the purchase price of the shares in the offering.

 

    	 	-1-
	 

    	 

    

 

Where,

 

	 	X	=	The
    number of Shares to be issued to Holder;
	 	Y	=	The
    number of Shares for which the Purchase Warrant is being exercised;
	 	A	=	The
    fair market value of one Share; and
	 	B	=	The
    Exercise Price.

 

For
purposes of this Purchase Warrant, the fair market value of a Share is defined as follows:

 

	  	(i)	if
    the Company’s common shares are traded on a securities exchange, the value shall be deemed to be the closing price on
    such exchange prior to the exercise form being submitted in connection with the exercise of the Purchase Warrant; 
	 	 	 
	 	(ii)	if
    the Company’s common shares are actively traded over-the-counter, the value shall be deemed to be the closing bid price
    prior to the exercise form being submitted in connection with the exercise of the Purchase Warrant; or
	 	 	 
	 	(iii)	if
    there is no active public market, the value shall be the fair market value thereof, as determined in good faith by the Company’s
    Board of Directors.

 

2.3.
Accredited Investor. The Holder is an “accredited investor” as defined in Rule 501(a) under the Act, and is
receiving the Purchase Warrant pursuant to an exemption from the prospectus requirements of applicable securities laws.

 

3.
Transfer.

 

3.1.
General Restrictions. The registered Holder of this Purchase Warrant agrees by his, her or its acceptance hereof, that
such Holder will not: (a) sell, transfer, assign, pledge or hypothecate this Purchase Warrant for a period of one hundred eighty
(180) days following the Effective Date (the “Transferability Date”) to anyone other than: (i) AEGIS CAPITAL
CORP. (“Aegis”) or an underwriter or a selected dealer participating in the Offering, or (ii) a bona fide officer
or partner of Aegis or of any such underwriter or selected dealer, in each case in accordance with Financial Industry Regulatory
Authority (“FINRA”) Conduct Rule 5110(g)(1), or (b) cause this Purchase Warrant or the securities issuable
hereunder to be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective
economic disposition of this Purchase Warrant or the securities hereunder, except as provided for in FINRA Rule 5110(g)(2). On
and after the Transferability Date, transfers to others may be made subject to compliance with or exemptions from applicable securities
laws. In order to make any permitted assignment, the Holder must deliver to the Company the assignment form attached hereto as
Exhibit B duly executed and completed, together with the Purchase Warrant and payment of all transfer taxes, if
any, payable in connection therewith. Subject to applicable securities laws, the Company shall within five (5) business days transfer
this Purchase Warrant on the books of the Company and shall execute and deliver a new Purchase Warrant or Purchase Warrants of
like tenor to the appropriate assignee(s) expressly evidencing the right to purchase the aggregate number of Shares purchasable
hereunder or such portion of such number as shall be contemplated by any such assignment.

 

3.2.
Restrictions Imposed by the Act. The securities evidenced by this Purchase Warrant shall not be transferred unless and
until: (i) the Company has received the opinion of counsel for the Holder that the securities may be transferred pursuant to an
exemption from registration under the Act and applicable state securities laws, or (ii) a registration statement or a post-effective
amendment to the Registration Statement relating to the offer and sale of such securities has been filed by the Company and declared
effective by the Commission and compliance with applicable state securities law has been established.

 

    	 	-2-
	 

    	 

    

 

4.
Registration Rights.

 

4.1.
Demand Registration.

 

4.1.1
Grant of Right. Unless a registration statement covering the exercise of this Warrant and the sale of the Shares by the
Holder is in effect and available, the Company, upon written demand (a “Demand Notice”) of the Holder(s) of
at least 51% of the Warrants and/or the underlying Shares (“Majority Holders”), agrees to register, on one
occasion, all or any portion of the Shares underlying the Warrants (collectively, the “Registrable Securities”).
On such occasion, the Company will file a registration statement with the Commission covering the Registrable Securities within
sixty (60) days after receipt of a Demand Notice and use its reasonable best efforts to have the registration statement declared
effective promptly thereafter, subject to compliance with review by the U.S. Securities and Exchange Commission (the “Commission”
or “SEC”); provided, however, that the Company shall not be required to comply with a Demand
Notice if the Company has filed a registration statement with respect to which the Holder is entitled to piggyback registration
rights pursuant to Section 4.2 hereof and either: (i) the Holder has elected to participate in the offering covered by such registration
statement or (ii) if such registration statement relates to an underwritten primary offering of securities of the Company, until
the offering covered by such registration statement has been withdrawn or until thirty (30) days after such offering is consummated.
The demand for registration may be made at any time on or after the Commencement Date and for a period of no more than five (5)
years from the Effective Date or the commencement of sales of the offering in accordance with FINRA Rule 5110(f)(2)(G)(iv). The
Company covenants and agrees to give written notice of its receipt of any Demand Notice by any Holder(s) to all other registered
Holders of the Warrants and/or the Registrable Securities within ten (10) days after the date of the receipt of any such Demand
Notice. Notwithstanding the foregoing, the Company shall not be required to register any Registrable Securities pursuant to this
Section that are subject of a then effective registration statement.

 

4.1.2
Terms. The Company shall bear all fees and expenses attendant to the registration of the Registrable Securities pursuant
to Section 4.1.1, but the Holders shall pay any and all underwriting commissions and the expenses of any legal counsel selected
by the Holders to represent them in connection with the sale of the Registrable Securities. The Company agrees to use its commercially
reasonable efforts to cause the filing required herein to become effective promptly and to qualify or register the Registrable
Securities in such States as are reasonably requested by the Holder(s); provided, however, that in no event shall
the Company be required to register the Registrable Securities in a State in which such registration would cause: (i) the Company
to be obligated to register or license to do business in such State or submit to general service of process in such State, or
(ii) the principal shareholders of the Company to be obligated to escrow their shares of capital stock of the Company. The Company
shall cause any registration statement filed pursuant to the demand right granted under Section 4.1.1 to remain effective until
the date when all Registrable Securities covered by such registration statement have been sold. The Holders shall only use the
prospectuses provided by the Company to sell the Registrable Securities covered by such registration statement, and will immediately
cease to use any prospectus furnished by the Company if the Company advises the Holder that such prospectus may no longer be used
due to a material misstatement or omission. Notwithstanding the provisions of this Section 4.1.2, the Holder shall be entitled
to a demand registration under this Section 4.1.2 on only one (1) occasion and such demand registration right shall terminate
on the fifth (5th) anniversary of the Transferability Date.

 

4.2
Piggy-Back Registration.

 

4.2.1
Grant of Right. In addition to the demand right of registration described in Section 4.1 hereof, unless a registration
statement covering the exercise of this Warrant and the sale of the Shares by the Holder is in effect and available, the Holder
shall have the right, for a period of no more than seven (7) years from the Effective Date, to include the Registrable
Securities as part of any other registration of securities filed by the Company (other than in connection with a transaction contemplated
by Rule 145(a) promulgated under the Securities Act, or pursuant to Form S-8 or any equivalent form); provided, however,
that if, solely in connection with any primary underwritten public offering for the account of the Company, the managing underwriter(s)
thereof shall, in its reasonable discretion, impose a limitation on the number of shares of common stock which may be included
in the registration statement because, in such underwriter(s)’ judgment, marketing or other factors dictate such limitation
is necessary to facilitate public distribution, then the Company shall be obligated to include in such registration statement
only such limited portion of the Registrable Securities with respect to which the Holder requested inclusion hereunder as the
underwriter shall reasonably permit. Any exclusion of Registrable Securities shall be made pro rata among the Holders seeking
to include Registrable Securities in proportion to the number of Registrable Securities sought to be included by such Holders;
provided, however, that the Company shall not exclude any Registrable Securities unless the Company has first excluded
all outstanding securities, the holders of which are not entitled to inclusion of such securities in such registration statement
or are not entitled to pro rata inclusion with the Registrable Securities. Notwithstanding the foregoing, the Company shall not
be required to register any Registrable Securities pursuant to this Section that are subject of a then effective registration
statement.

 

    	 	-3-
	 

    	 

    

 

4.2.2
Terms. The Company shall bear all fees and expenses attendant to registering the Registrable Securities pursuant to Section
4.2.1 hereof, but the Holders shall pay any and all underwriting commissions and the expenses of any legal counsel selected by
the Holders to represent them in connection with the sale of the Registrable Securities. In the event of such a proposed registration,
the Company shall furnish the then Holders of outstanding Registrable Securities with not less than fifteen (15) days written
notice prior to the proposed date of filing of such registration statement. Such notice to the Holders shall continue to be given
for each registration statement filed by the Company until such time as all of the Registrable Securities have been sold by the
Holder. The holders of the Registrable Securities shall exercise the “piggy-back” rights provided for herein by giving
written notice within five (5) days of the receipt of the Company’s notice of its intention to file a registration statement.
Except as otherwise provided in this Purchase Warrant, there shall be no limit on the number of times the Holder may request registration
under this Section 4.2.2; provided, however, that such registration rights shall terminate on the seventh (7th)
anniversary of the Effective Date.

 

4.3
Indemnification. The Company shall indemnify the Holder(s) of the Registrable Securities to be sold pursuant to any registration
statement hereunder and each person, if any, who controls such Holders within the meaning of Section 15 of the Act or Section
20(a) of the Securities Exchange Act of 1934, as amended (“Exchange Act”), against all loss, claim, damage,
expense or liability (including all reasonable attorneys’ fees and other expenses reasonably incurred in investigating,
preparing or defending against any claim whatsoever) to which any of them may become subject under the Act, the Exchange Act or
otherwise, arising from such registration statement but only to the same extent and with the same effect as the provisions pursuant
to which the Company has agreed to indemnify the Holder(s) pursuant to the underwriting agreement relating to such registration
statement (the “Underwriting Agreement”). The Holder(s) of the Registrable Securities to be sold pursuant to
such registration statement, and their successors and assigns, shall severally, and not jointly, indemnify the Company, against
all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses reasonably incurred
in investigating, preparing or defending against any claim whatsoever) to which they may become subject under the Act, the Exchange
Act or otherwise, arising from information furnished by or on behalf of such Holders, or their successors or assigns, in writing,
for specific inclusion in such registration statement to the same extent and with the same effect as the provisions contained
in the Underwriting Agreement pursuant to which the underwriters have agreed to indemnify the Company.

 

4.4.
Exercise of Purchase Warrants. Nothing contained in this Purchase Warrant shall be construed as requiring the Holder(s)
to exercise their Purchase Warrants prior to or after the initial filing of any registration statement or the effectiveness thereof.

 

4.5.
Documents Delivered to Holders. The Company shall deliver promptly to each Holder participating in the offering requesting
the correspondence and memoranda described below and to the managing underwriter, if any, copies of all correspondence between
the Commission and the Company, its counsel or auditors and all memoranda relating to discussions with the Commission or its staff
with respect to the registration statement and permit each Holder and underwriter to do such investigation, upon reasonable advance
notice, with respect to information contained in or omitted from the registration statement as it deems reasonably necessary to
comply with applicable securities laws or rules of FINRA. Such investigation shall include access to books, records and properties
and opportunities to discuss the business of the Company with its officers and independent auditors, all to such reasonable extent
and at such reasonable times, during normal business hours, as any such Holder shall reasonably request.

 

4.6.
Underwriting Agreement. If the Company shall enter into an underwriting agreement, pursuant to which Registrable Securities
of a Holder are being registered, such Holders shall not be required to make any representations or warranties to or agreements
with the Company or the underwriters except as they may relate to such Holders, their Shares and their intended methods of distribution.

 

4.7.
Documents to be Delivered by Holder(s). Each of the Holder(s) participating in any of the foregoing offerings shall furnish
to the Company a completed and executed questionnaire provided by the Company requesting information customarily sought of selling
security holders.

 

    	 	-4-
	 

    	 

    

 

5.
New Purchase Warrants to be Issued.

 

5.1.
Partial Exercise or Transfer. Subject to the restrictions in Section 3 hereof, this Purchase Warrant may be exercised
or assigned in whole or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase
Warrant for cancellation, together with the duly executed exercise or assignment form and funds sufficient to pay any Exercise
Price and/or transfer tax if exercised pursuant to Section 2.1 hereto, the Company shall cause to be delivered to the Holder
without charge a new Purchase Warrant of like tenor to this Purchase Warrant in the name of the Holder evidencing the right of
the Holder to purchase the number of Shares purchasable hereunder as to which this Purchase Warrant has not been exercised or
assigned.

 

5.2.
Lost Certificate. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation
of this Purchase Warrant and of reasonably satisfactory indemnification or the posting of a bond, the Company shall execute and
deliver a new Purchase Warrant of like tenor and date. Any such new Purchase Warrant executed and delivered as a result of such
loss, theft, mutilation or destruction shall constitute a substitute contractual obligation on the part of the Company.

 

6.
Adjustments.

 

6.1.
Adjustments to Exercise Price and Number of Securities. The Exercise Price and the number of Shares underlying the Purchase
Warrant shall be subject to adjustment from time to time as hereinafter set forth:

 

6.1.1.
Share Dividends; Split Ups. If, after the date hereof, and subject to the provisions of Section 6.3 below, the number
of outstanding Shares is increased by a share dividend payable in Shares or by a split up of Shares or other similar event, then,
on the effective day thereof, the number of Shares purchasable hereunder shall be increased in proportion to such increase in
outstanding Shares, and the Exercise Price shall be proportionately decreased.

 

6.1.2.
Aggregation of Shares. If, after the date hereof, and subject to the provisions of Section 6.3 below, the number
of outstanding Shares is decreased by a consolidation, combination or reclassification of Shares or other similar event, then,
on the effective date thereof, the number of Shares purchasable hereunder shall be decreased in proportion to such decrease in
outstanding Shares, and the Exercise Price shall be proportionately increased.

 

6.1.3.
Replacement of Securities Upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding
Shares other than a change covered by Section 6.1.1 or Section 6.1.2 hereof or that solely affects the par value
of such Shares, or in the case of any share reconstruction or amalgamation or consolidation of the Company with or into another
corporation (other than a consolidation or share reconstruction or amalgamation in which the Company is the continuing corporation
and that does not result in any reclassification or reorganization of the outstanding Shares), or in the case of any sale or conveyance
to another corporation or entity of the property of the Company as an entirety or substantially as an entirety in connection with
which the Company is dissolved, this Purchase Warrant shall, immediately after such reorganization, reclassification, consolidation,
merger, sale or similar transaction, remain outstanding and shall thereafter, in lieu of or in addition to (as the case may be)
the number of Shares then exercisable under this Purchase Warrant, be exercisable for the kind and number of shares of stock or
other securities or assets of the Company or of the successor person resulting from such transaction to which the Holder would
have been entitled upon such reorganization, reclassification, consolidation, merger, sale or similar transaction if the Holder
had exercised this Warrant in full immediately prior to the time of such reorganization, reclassification, consolidation, merger,
sale or similar transaction and acquired the applicable number of Shares then issuable hereunder as a result of such exercise
(without taking into account any limitations or restrictions on the exercisability of this Purchase Warrant); and, in such case,
appropriate adjustment shall be made with respect to the Holder’s rights under this Purchase Warrant to ensure that the
provisions of this Section 6.1.3 hereof shall thereafter be applicable, as nearly as possible, to this Purchase Warrant
in relation to any shares of stock, securities or assets thereafter acquirable upon exercise of this Purchase Warrant (including,
in the case of any consolidation, merger, sale or similar transaction in which the successor or purchasing person is other than
the Company, an immediate adjustment in the Exercise Price to the value per common share reflected by the terms of such consolidation,
merger, sale or similar transaction, and a corresponding immediate adjustment to the number of Shares acquirable upon exercise
of this Purchase Warrant without regard to any limitations or restrictions on exercise, if the value so reflected is less than
the Exercise Price in effect immediately prior to such consolidation, merger, sale or similar transaction). The provisions of
this Section 6.1.3 shall similarly apply to successive reorganizations, reclassifications, consolidations, mergers, sales
or similar transactions. The Company shall not effect any such reorganization, reclassification, consolidation, merger, sale or
similar transaction unless, prior to the consummation thereof, the successor person (if other than the Company) resulting from
such reorganization, reclassification, consolidation, merger, sale or similar transaction, shall assume, by written instrument
substantially similar in form and substance to this Purchase Warrant and satisfactory to the Holder, the obligation to deliver
to the Holder such shares of stock, securities or assets which, in accordance with the foregoing provisions, such Holder shall
be entitled to receive upon exercise of this Warrant.

 

    	 	-5-
	 

    	 

    

 

6.1.4.
Changes in Form of Purchase Warrant. This form of Purchase Warrant need not be changed because of any change pursuant to
this Section 6.1, and Purchase Warrants issued after such change may state the same Exercise Price and the same number
of Shares as are stated in the Purchase Warrants initially issued pursuant to this Agreement. The acceptance by any Holder of
the issuance of new Purchase Warrants reflecting a required or permissive change shall not be deemed to waive any rights to an
adjustment occurring after the Commencement Date or the computation thereof.

 

6.2.
Substitute Purchase Warrant. In case of any consolidation of the Company with, or share reconstruction or amalgamation
of the Company with or into, another corporation (other than a consolidation or share reconstruction or amalgamation which does
not result in any reclassification or change of the outstanding Shares), the corporation formed by such consolidation or share
reconstruction or amalgamation shall execute and deliver to the Holder a supplemental Purchase Warrant providing that the holder
of each Purchase Warrant then outstanding or to be outstanding shall have the right thereafter (until the stated expiration of
such Purchase Warrant) to receive, upon exercise of such Purchase Warrant, the kind and amount of shares and other securities
and property receivable upon such consolidation or share reconstruction or amalgamation, by a holder of the number of Shares of
the Company for which such Purchase Warrant might have been exercised immediately prior to such consolidation, share reconstruction
or amalgamation, sale or transfer. Such supplemental Purchase Warrant shall provide for adjustments which shall be identical to
the adjustments provided for in this Section 6. The above provision of this Section shall similarly apply to successive
consolidations or share reconstructions or amalgamations.

 

6.3.
Elimination of Fractional Interests. The Company shall not be required to issue certificates representing fractions of
Shares upon the exercise of the Purchase Warrant, nor shall it be required to issue scrip in lieu of any fractional interests,
it being the intent of the parties that all fractional interests shall be eliminated by payment in cash of the fair market value
of such fractional interests.

 

7.
Reservation and Listing. The Company shall at all times reserve and keep available out of its authorized Shares, solely
for the purpose of issuance upon exercise of the Purchase Warrants, such number of Shares or other securities, properties or rights
as shall be issuable upon the exercise thereof. The Company covenants and agrees that, upon exercise of the Purchase Warrants
and payment of the Exercise Price therefor, in accordance with the terms hereby, all Shares and other securities issuable upon
such exercise shall be duly and validly issued, fully paid and non-assessable and not subject to preemptive rights of any shareholder.
As long as the Purchase Warrants shall be outstanding, the Company shall use its commercially reasonable efforts to cause all
Shares issuable upon exercise of the Purchase Warrants to be listed (subject to official notice of issuance) on all national securities
exchanges (or, if applicable, quoted on the OTC Bulletin Board or any successor trading market) on which the Company’s common
shares may then be listed and/or quoted.

 

8.
Certain Notice Requirements.

 

8.1.
Holder’s Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holders the right to vote
or consent or to receive notice as a shareholder for the election of directors or any other matter, or as having any rights whatsoever
as a shareholder of the Company. If, however, at any time prior to the expiration of the Purchase Warrants and their exercise,
any of the events described in Section 8.2 shall occur, then, in one or more of said events, the Company shall give written
notice of such event at least ten (10) days prior to the date fixed as a record date or the date of closing the transfer books
for the determination of the shareholders entitled to such dividend, distribution, conversion or exchange of securities or subscription
rights, or entitled to vote on such proposed dissolution, liquidation, winding up or sale. Such notice shall specify such record
date or the date of the closing of the transfer books, as the case may be. Notwithstanding the foregoing, the Company shall deliver
to each Holder a copy of each notice given to the other shareholders of the Company at the same time and in the same manner that
such notice is given to the shareholders.

 

    	 	-6-
	 

    	 

    

 

8.2.
Events Requiring Notice. The Company shall be required to give the notice described in this Section 8 upon one or
more of the following events: (i) if the Company shall take a record of the holders of its Shares for the purpose of entitling
them to receive a dividend or distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise
than out of retained earnings, as indicated by the accounting treatment of such dividend or distribution on the books of the Company,
(ii) the Company shall offer to all the holders of its Shares any additional shares of capital stock of the Company or securities
convertible into or exchangeable for shares of capital stock of the Company, or any option, right or warrant to subscribe therefor,
or (iii) a dissolution, liquidation or winding up of the Company (other than in connection with a consolidation or share reconstruction
or amalgamation) or a sale of all or substantially all of its property, assets and business shall be proposed.

 

8.3.
Notice of Change in Exercise Price. The Company shall, promptly after an event requiring a change in the Exercise Price
pursuant to Section 6 hereof, send notice to the Holders of such event and change (“Price Notice”).
The Price Notice shall describe the event causing the change and the method of calculating same and shall be certified as being
true and accurate by the Company’s Chief Financial Officer.

 

8.4.
Transmittal of Notices. All notices, requests, consents and other communications under this Purchase Warrant shall be in
writing and shall be deemed to have been duly made when hand delivered, or mailed by express mail or private courier service:
(i) if to the registered Holder of the Purchase Warrant, to the address of such Holder as shown on the books of the Company, or
(ii) if to the Company, to following address or to such other address as the Company may designate by notice to the Holders:

 

If
to the Holder:

 

Aegis
Capital Corp.

810
Seventh Avenue, 18th Floor

New
York, New York 10019

Attn:
Syndicate

 

If
to the Company:

 

YayYo,
Inc.

433
N. Camden Drive, Suite 600

Beverly
Hills, CA 90210

Attention:
Chief Executive Officer

 

Fax
No: [●]

 

9.
Miscellaneous.

 

9.1.
Amendments. The Company and Aegis may from time to time supplement or amend this Purchase Warrant without the approval
of any of the Holders in order to cure any ambiguity, to correct or supplement any provision contained herein that may be defective
or inconsistent with any other provisions herein, or to make any other provisions in regard to matters or questions arising hereunder
that the Company and Aegis may deem necessary or desirable and that the Company and Aegis deem shall not adversely affect the
interest of the Holders. All other modifications or amendments shall require the written consent of and be signed by the party
against whom enforcement of the modification or amendment is sought.

 

9.2.
Headings. The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way
limit or affect the meaning or interpretation of any of the terms or provisions of this Purchase Warrant.

 

9.3.
Entire Agreement. This Purchase Warrant (together with the other agreements and documents being delivered pursuant to or
in connection with this Purchase Warrant) constitutes the entire agreement of the parties hereto with respect to the subject matter
hereof, and supersedes all prior agreements and understandings of the parties, oral and written, with respect to the subject matter
hereof.

 

    	 	-7-
	 

    	 

    

 

9.4.
Binding Effect. This Purchase Warrant shall inure solely to the benefit of and shall be binding upon, the Holder and the
Company and their permitted assignees, respective successors, legal representative and assigns, and no other person shall have
or be construed to have any legal or equitable right, remedy or claim under or in respect of or by virtue of this Purchase Warrant
or any provisions herein contained.

 

9.5.
Governing Law; Submission to Jurisdiction; Trial by Jury. This Purchase Warrant shall be governed by and construed and
enforced in accordance with the laws of the State of New York, without giving effect to conflict of laws principles thereof. Each
of the Company and the Holder hereby agrees that any action, proceeding or claim against it arising out of, or relating in any
way to this Purchase Warrant shall be brought and enforced in the New York Supreme Court, County of New York, or in the United
States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction
shall be exclusive. Each of the Company and the Holder hereby waives any objection to such exclusive jurisdiction and that such
courts represent an inconvenient forum. Any process or summons to be served upon the Company or the Holder may be served by transmitting
a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it at the address set
forth in Section 8 hereof. Such mailing shall be deemed personal service and shall be legal and binding upon the Company
and the Holder in any action, proceeding or claim. The Company and the Holder agree that the prevailing party(ies) in any such
action shall be entitled to recover from the other party(ies) all of its reasonable attorneys’ fees and expenses relating
to such action or proceeding and/or incurred in connection with the preparation therefor. The Company (on its behalf and, to the
extent permitted by applicable law, on behalf of its shareholders and affiliates) 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 Agreement
or the transactions contemplated hereby.

 

9.6.
Waiver, etc. The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase Warrant
shall not be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Purchase
Warrant or any provision hereof or the right of the Company or any Holder to thereafter enforce each and every provision of this
Purchase Warrant. No waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this Purchase Warrant
shall be effective unless set forth in a written instrument executed by the party or parties against whom or which enforcement
of such waiver is sought; and no waiver of any such breach, non-compliance or non-fulfillment shall be construed or deemed to
be a waiver of any other or subsequent breach, non-compliance or non-fulfillment.

 

9.7.
Exchange Agreement. As a condition of the Holder’s receipt and acceptance of this Purchase Warrant, Holder agrees
that, at any time prior to the complete exercise of this Purchase Warrant by Holder, if the Company and Aegis enter into an agreement
(“Exchange Agreement”) pursuant to which they agree that all outstanding Purchase Warrants will be exchanged
for securities or cash or a combination of both, then Holder shall agree to such exchange and become a party to the Exchange Agreement.

 

[Signature
Page Follows]

 

    	 	-8-
	 

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Purchase Warrant to be signed by its duly authorized officer as of the [●]
day of [●], 2019.

 

	YAYYO,
    INC.	 
	 	     	 
	By:	 	 
	 Name:		 
	Title:		 

 

    	 	-9-
	 

    	 

    

 

EXHIBIT
A

[Form
to be used to exercise Purchase Warrant]

 

Date:__________________

 

The
undersigned hereby elects irrevocably to exercise the Purchase Warrant for [●] common shares, par value $0.000001 (the “Shares”),
of YayYo, Inc., a corporation governed by the laws of the state of Delaware (the “Company”), and hereby makes
payment of $              (at the rate of $[●] per Share) in payment of the Exercise Price pursuant thereto. Please issue the Shares
as to which this Purchase Warrant is exercised in accordance with the instructions given below and, if applicable, a new Purchase
Warrant representing the number of Shares for which this Purchase Warrant has not been exercised.

 

or

 

The
undersigned hereby elects irrevocably to convert its right to purchase [●] Shares of the Company under the Purchase Warrant
for [●] Shares, as determined in accordance with the following formula:

 

X
=      Y(A-B)     

A

 

Where,

 

	 	X	=	The
    number of Shares to be issued to Holder;
	   	Y	=	The
    number of Shares for which the Purchase Warrant is being exercised;
	   	A	=	The
    fair market value of one Share which is equal to $[●]; and
	   	B	=	The
    Exercise Price which is equal to $[●] per share.

 

The
undersigned agrees and acknowledges that the calculation set forth above is subject to confirmation by the Company and any disagreement
with respect to the calculation shall be resolved by the Company in its sole discretion.

 

Please
issue the Shares as to which this Purchase Warrant is exercised in accordance with the instructions given below and, if applicable,
a new Purchase Warrant representing the number of Shares for which this Purchase Warrant has not been converted.

 

 

	Signature:	 	 
	 	 	 
	Signature Guaranteed	 

 

INSTRUCTIONS
FOR REGISTRATION OF SECURITIES

 

	 	 	 
	Name:	 	 
	 	(Print
    in Block Letters)	 
	 	 	 
	Address:	 	 
			 
	 	 	 
	 	 	 
	 	 	 

 

NOTICE:
The signature to this form must correspond with the name as written upon the face of the Purchase Warrant without alteration or
enlargement or any change whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by
a firm having membership on a registered national securities exchange.

 

    	 	-10-
	 

    	 

    

 

EXHIBIT
B

[Form
to be used to assign Purchase Warrant]

 

ASSIGNMENT

 

(To
be executed by the registered Holder to effect a transfer of the within Purchase Warrant):

 

FOR
VALUE RECEIVED, [●] does hereby sell, assign and transfer unto the right to purchase common shares, $0.000001, of YayYo,
Inc., a corporation governed by the laws of the state of Delaware (the “Company”), evidenced by the Purchase
Warrant and does hereby authorize the Company to transfer such right on the books of the Company.

 

Dated_____________________

 

Signature:______________________________

 

Signature
Guaranteed

 

NOTICE:
The signature to this form must correspond with the name as written upon the face of the within Purchase Warrant without alteration
or enlargement or any change whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or
by a firm having membership on a registered national securities exchange.

 

    	 	-11-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00300-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00300-of-00352.parquet"}]]