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Fare Co-op Membership Terms for Non-Drivers

Participate in Fare Co-op for free as a rider or general participant, or become a Preferred Shareholder by purchasing one or more cooperative shares.

Compare Your Participation Options

Feature	General Participation	Preferred Shareholder
Cost to Join	FREE	Purchase a Preferred Share
Use Fare Co-op	Yes	Yes
Referral Programs	Eligible programs available	Eligible programs available
Preferred Share Ownership	No	Yes
Own Multiple Shares	—	Yes
Monthly Maintenance	$0	$52.50/month on the first Preferred Share in a fully licensed and operating territory
Additional Shares	—	No additional maintenance fee simply for owning additional shares
Fleet Use	—	Additional shares may be assigned to participating drivers. Each assigned driver share requires its own monthly maintenance payment.

You May Own Multiple Preferred Shares

A qualifying Preferred Shareholder may purchase and own multiple Preferred Shares. The current Bylaws do not establish a numerical limit on the number of Preferred Shares a qualifying shareholder may own.

You do not pay a separate monthly maintenance fee on every share you own.

In a fully licensed and operating territory, the applicable monthly maintenance fee is charged on your first Preferred Share.

Simply owning additional shares does not create additional maintenance charges. Additional maintenance applies only when a share is assigned to another driver actively operating on Fare Co-op under that share.

How Maintenance Fees Work

The current maintenance charge is $50 plus applicable processing fees, currently totaling $52.50 per month.

In fully licensed and operating territories, the maintenance fee applies to your first Preferred Share and to each additional share assigned to another active driver.

Example	Shares Owned	Fleet Drivers Assigned Shares	Monthly Maintenance
You own 1 share	1	0	1 × $52.50 = $52.50
You own 5 shares and keep all additional shares for yourself	5	0	1 × $52.50 = $52.50
You own 5 shares and assign 2 to fleet drivers	5	2	3 × $52.50 = $157.50
You own 5 shares and assign 4 to fleet drivers	5	4	5 × $52.50 = $262.50

Simple Rule: Your first Preferred Share carries the maintenance fee in an active market. Additional shares cost nothing extra to maintain unless they are assigned to additional drivers operating through your fleet.

Current Preferred Share Pricing

Market	Share Price	Status
California	$650	Fully licensed and operational
Arizona, Georgia, Portland, Massachusetts & Florida	$400	Fully licensed and operating
Illinois, Maryland, Missouri, Mississippi, Nevada, Ohio, Oregon outside Portland, Texas & Washington	$200	Working toward launch
All Other States & Provinces	$150	Current introductory pricing

Future Market Pricing: In other states and provinces, the current $150 Preferred Share price is scheduled to increase to $200 once Fare Co-op submits a Transportation Network Company license application or otherwise begins the applicable licensing and regulatory process.

Preferred Share pricing may be adjusted in accordance with the Fare Co-op Bylaws and applicable Board-approved policies. A change in the current price of new shares does not change the amount originally paid for an existing share.

Important Information About Preferred Shares

Preferred Share purchases are subject to applicable agreements, eligibility requirements, and Cooperative approval.
Qualifying Preferred Shareholders may own multiple Preferred Shares.
Owning additional Preferred Shares does not, by itself, provide additional voting rights.
The monthly maintenance fee applies to the first Preferred Share in a fully licensed and operating territory.
Simply owning additional shares does not create additional monthly maintenance charges.
Each additional share assigned to another active driver requires its own monthly maintenance payment.
Preferred Shares do not provide a guaranteed dividend, return, redemption amount, or increase in value.
Preferred Shares are not freely traded on a public market.

Using Shares for a Fleet

Preferred Shareholders may use additional shares for participating drivers operating through their fleet, subject to Fare Co-op’s fleet requirements.

One Preferred Share must be assigned to each additional participating driver, as applicable under Fare Co-op’s fleet program.

Each share assigned to an active fleet driver requires its own $52.50 monthly maintenance payment in a fully licensed and operating territory.

The fleet owner is responsible for ensuring that every participating driver and vehicle satisfies Fare Co-op’s applicable qualification, insurance, documentation, background-check, inspection, and regulatory requirements.

If You Choose to Drive

Preferred Share ownership alone does not automatically qualify someone to transport passengers. Anyone who drives on Fare Co-op must satisfy the applicable driver, vehicle, insurance, background-check, and regulatory requirements.

Background Check

Drivers must successfully complete Fare Co-op’s required background-screening process. The current background-check fee is $25.

Required Documents

Valid driver’s license
Required automobile insurance
Vehicle registration or license-plate documentation
Vehicle inspection, where required

Driver & Vehicle Standards

Drivers must generally be at least 21 years old, subject to applicable law and insurance requirements.
Vehicles must generally be no more than 15 years old, subject to stricter state, local, insurance, or regulatory requirements.
Vehicles must meet Fare Co-op’s applicable inspection, condition, and mileage requirements.

Preferred Share Rights & Transfers

Voting and governance rights are determined by the Fare Co-op Bylaws, membership structure, Good Standing requirements, and applicable Cooperative policies. Simply purchasing additional Preferred Shares does not automatically create additional voting rights.

Any dividend or distribution is subject to the Cooperative’s Bylaws, financial condition, applicable agreements, and required Board approval.

Any transfer, redemption, reimbursement, repurchase, or other disposition of a Preferred Share is subject to the Fare Co-op Bylaws, applicable agreements, Board approval requirements, and applicable law.

Important: Preferred Shares are not publicly traded. Fare Co-op does not guarantee any dividend, financial return, redemption amount, or increase in share value.

Preferred Share ownership, maintenance requirements, voting rights, distributions, fleet assignments, transfers, and other rights are governed by the Local Driver Federation Cooperative Bylaws, applicable membership or subscription agreements, Board-approved policies, and applicable law.

Fare Co-op Membership Terms for Drivers

Choose between a free Fractional Membership earning 55% or a Preferred Shareholder Membership earning 85%.

Compare Your Membership Options

Feature	Fractional Driver	Preferred Shareholder
Cost to Join	FREE	Purchase a Preferred Share
Driver Earnings	55% of applicable platform profits after hard costs	85% of applicable platform profits after hard costs
Monthly Maintenance	$0	$52.50/month on your first Preferred Share in a fully licensed and operating territory
Preferred Share Ownership	No share required	Yes
Own Multiple Shares	—	Yes
Maintenance on Additional Shares	—	No additional maintenance fee simply for owning additional shares. An additional $52.50/month applies to each share assigned to another driver actively operating on Fare Co-op under that share.
Fleet Use	Subject to fleet program requirements	Assign a Preferred Share to each additional driver operating as part of your fleet. Each assigned driver share carries its own monthly maintenance fee.

You May Own Multiple Preferred Shares

A qualifying Preferred Shareholder may purchase and own multiple Preferred Shares. The current Bylaws do not establish a numerical limit on the number of Preferred Shares a qualifying shareholder may own.

In a fully licensed and operating territory, the monthly maintenance fee applies to your first Preferred Share.

Simply owning additional Preferred Shares does not require you to pay an additional maintenance fee on each share.

However, if you assign an additional share to another driver who operates on the Fare Co-op platform under that share as part of your fleet, that assigned share requires its own $52.50 monthly maintenance payment.

How Maintenance Fees Work

In a fully licensed and operating territory, a Preferred Shareholder pays the applicable monthly maintenance fee on their first Preferred Share.

Additional shares that you simply own do not create additional monthly maintenance charges. An additional maintenance fee applies only when an additional share is assigned to another driver who actively operates on Fare Co-op under that share.

Example	Shares Owned	Additional Fleet Drivers	Monthly Maintenance Fees
You own 1 share	1	0	1 × $52.50 = $52.50
You own 5 shares but do not assign any to other drivers	5	0	1 × $52.50 = $52.50
You own 5 shares and assign 2 to fleet drivers	5	2	3 × $52.50 = $157.50
You own 5 shares and assign 4 to fleet drivers	5	4	5 × $52.50 = $262.50

The current maintenance charge is $50 plus applicable processing fees, currently totaling $52.50 per month.

For Preferred Shareholders in fully licensed and operating territories, this charge applies to the first share owned and to each additional share assigned to another active driver.

Maintenance fees help support insurance, technology, platform operations, regulatory compliance, marketing, driver support, and continued regional growth.

Current Preferred Share Pricing

Market	Share Price	Status
California	$650	Fully licensed and operational
Arizona, Georgia, Portland, Massachusetts & Florida	$400	Fully licensed and operating
Illinois, Maryland, Missouri, Mississippi, Nevada, Ohio, Oregon outside Portland, Texas & Washington	$200	Working toward launch
All Other States & Provinces	$150	Current introductory pricing

Future Market Pricing: In other states and provinces, the current $150 Preferred Share price is scheduled to increase to $200 once Fare Co-op submits a Transportation Network Company license application or otherwise begins the applicable licensing and regulatory process.

Share pricing may be adjusted in accordance with the Fare Co-op Bylaws and applicable Board-approved policies. A change in the current price of new shares does not change the amount originally paid for an existing share.

Preferred Shareholder Benefits & Requirements

Eligible to earn 85% of applicable platform profits after hard costs.
Own a Preferred Share in the cooperative.
Qualifying shareholders may purchase and own multiple Preferred Shares.
The monthly maintenance fee applies to your first Preferred Share in a fully licensed and operating territory. Simply owning additional shares does not create additional maintenance fees.
Each additional Preferred Share assigned to another driver actively operating under that share requires its own monthly maintenance payment.
Preferred Shareholders must remain in Good Standing to receive applicable Preferred Shareholder benefits.
Owning multiple Preferred Shares does not, by itself, provide additional voting rights.

Payouts

Payment Method	Availability	Current Fee
Stripe Instant Payout	Where available to eligible drivers	5% instant-deposit processing fee
ACH	May be available to eligible fleet operators and qualifying commercially insured members	Applicable ACH processing terms

Driver Requirements

Background Check

Drivers must successfully complete Fare Co-op’s required background-screening process. The current background-check fee is $25.

Required Documents

Valid driver’s license
Required automobile insurance
Vehicle registration or license-plate documentation
Vehicle inspection, where required

Driver & Vehicle Standards

Driver must generally be at least 21 years old, subject to applicable law and insurance requirements.
Vehicle must generally be no more than 15 years old, subject to stricter state, local, insurance, or regulatory requirements.
Vehicle must meet Fare Co-op’s current inspection, condition, and applicable mileage requirements.

Share Purchase & Cancellation Terms

A request to cancel a new Preferred Share purchase may be made within the first three days following purchase, subject to the applicable agreement and law.

After the applicable cancellation period, any redemption, reimbursement, transfer, repurchase, or other disposition of a Preferred Share is governed by the Fare Co-op Bylaws, applicable agreements, Board approval requirements, and applicable law.

Important: Preferred Shares are not publicly traded. Fare Co-op does not guarantee any dividend, financial return, redemption amount, or increase in share value.

Preferred Share ownership, compensation, maintenance requirements, voting rights, distributions, transfers, and other rights are governed by the Local Driver Federation Cooperative Bylaws, applicable membership or subscription agreements, Board-approved policies, and applicable law.

Fare Co-op Membership Terms for Fleet Owners

Choose between a free Fractional Fleet Membership earning 55% or a Preferred Shareholder Fleet Membership earning 85%.

Compare Your Fleet Membership Options

Feature	Fractional Fleet	Preferred Shareholder Fleet
Cost to Join	FREE	Purchase a Preferred Share
Fleet Earnings	55% of applicable platform profits after hard costs	85% of applicable platform profits after hard costs
Monthly Maintenance	$0	$52.50/month on the first Preferred Share in a fully licensed and operating territory
Preferred Share Ownership	No share required	Yes
Own Multiple Shares	—	Yes
Additional Fleet Drivers	Subject to fleet program requirements	Each additional participating driver must be assigned an applicable Preferred Share
Maintenance on Additional Shares	—	No additional maintenance simply for owning extra shares. Each share assigned to another active fleet driver carries an additional $52.50/month maintenance charge.
Payments	Generally issued biweekly	Generally issued biweekly through ACH
ACH Transfer Fee	Applicable payment terms	$1 per transfer

You May Own Multiple Preferred Shares

A qualifying fleet owner may purchase and own multiple Preferred Shares. The current Bylaws do not establish a numerical limit on the number of Preferred Shares a qualifying shareholder may own.

You do not pay a separate monthly maintenance fee simply because you own additional shares.

In a fully licensed and operating territory, the monthly maintenance fee applies to your first Preferred Share.

Each additional Preferred Share assigned to another driver actively operating on Fare Co-op as part of your fleet requires its own $52.50 monthly maintenance payment.

How Fleet Maintenance Fees Work

The current maintenance charge is $50 plus applicable processing fees, currently totaling $52.50 per month.

In a fully licensed and operating territory, the charge applies to your first Preferred Share and to each additional share assigned to another active fleet driver.

Example	Shares Owned	Fleet Drivers Assigned Shares	Monthly Maintenance
You own 1 Preferred Share	1	0	1 × $52.50 = $52.50
You own 5 shares but do not assign any to fleet drivers	5	0	1 × $52.50 = $52.50
You own 5 shares and assign 2 to fleet drivers	5	2	3 × $52.50 = $157.50
You own 5 shares and assign 4 to fleet drivers	5	4	5 × $52.50 = $262.50

Simple Rule: Your first Preferred Share carries the maintenance fee in an active market. Extra shares you simply own do not create additional maintenance charges. Each extra share assigned to another active fleet driver carries its own $52.50 monthly maintenance fee.

Current Preferred Share Pricing

Market	Share Price	Status
California	$650	Fully licensed and operational
Arizona, Georgia, Portland, Massachusetts & Florida	$400	Fully licensed and operating
Illinois, Maryland, Missouri, Mississippi, Nevada, Ohio, Oregon outside Portland, Texas & Washington	$200	Working toward launch
All Other States & Provinces	$150	Current introductory pricing

Future Market Pricing: In other states and provinces, the current $150 Preferred Share price is scheduled to increase to $200 once Fare Co-op submits a Transportation Network Company license application or otherwise begins the applicable licensing and regulatory process.

Preferred Share pricing may be adjusted in accordance with the Fare Co-op Bylaws and applicable Board-approved policies. A change in the current price of new shares does not change the amount originally paid for an existing share.

Preferred Fleet Benefits & Requirements

Eligible to earn 85% of applicable platform profits after hard costs.
Own Preferred Shares in the cooperative.
Qualifying fleet owners may purchase and own multiple Preferred Shares.
The monthly maintenance fee applies to your first Preferred Share in a fully licensed and operating territory.
Simply owning additional shares does not create additional monthly maintenance charges.
Each additional share assigned to another active fleet driver requires its own monthly maintenance payment.
Preferred Shareholders must remain in Good Standing to receive applicable Preferred Shareholder benefits.
Owning multiple Preferred Shares does not, by itself, provide additional voting rights.

Compensation & Payments

Membership Type	Compensation	Payment Method	Current Fee
Fractional Fleet	55% of applicable platform profits after hard costs	Generally paid biweekly	Applicable payment terms
Preferred Shareholder Fleet	85% of applicable platform profits after hard costs	Generally paid biweekly through ACH	$1 ACH transfer fee

Hard costs may include insurance, applicable state or local taxes and fees, payment-processing charges, regulatory costs, and other authorized ride-related expenses.

What the Maintenance Fee Supports

Commercial and operational insurance
Platform maintenance and development
Marketing and advertising
Airport permits and regulatory compliance
Local market development and expansion
Driver and fleet support
Ongoing app development and feature releases
Regional operations and continued growth

The maintenance requirement begins when Fare Co-op becomes fully licensed and operational in the applicable region, subject to the Bylaws and current Cooperative policies.

Fleet Qualification Requirements

Fleet owners, participating drivers, and participating vehicles must satisfy Fare Co-op’s current requirements as well as all requirements imposed by the applicable jurisdiction.

Business & Regulatory Requirements

Valid business license, where required
Required commercial or fleet insurance
All applicable state, provincial, city, county, airport, transportation authority, and municipal permits and registrations
Ongoing compliance with applicable commercial transportation, insurance, TNC, and fleet regulations

Driver & Vehicle Documentation

Valid driver’s license
Required personal, commercial, or fleet automobile insurance
Vehicle registration or license-plate documentation
Vehicle inspection, where required
Any additional documentation required by Fare Co-op or the applicable regulatory authority

Driver & Vehicle Standards

Each driver must generally be at least 21 years old, subject to applicable law, insurance requirements, and local regulations.
Vehicles must generally be no more than 15 years old, subject to stricter state, local, insurance, or regulatory requirements.
Vehicles must satisfy Fare Co-op’s current mileage, inspection, safety, and vehicle-condition requirements.
Each participating driver must successfully complete Fare Co-op’s required background-screening process. The current background-check fee is $25 per driver.

Fleet Owner Responsibility: The fleet owner is responsible for ensuring that every participating driver and vehicle satisfies Fare Co-op’s applicable qualification, insurance, documentation, background-check, inspection, and regulatory requirements.

Any applicable fleet, driver, vehicle, airport, state, provincial, city, county, municipal, insurance, licensing, permit, inspection, or regulatory costs are the responsibility of the fleet owner unless otherwise provided by Fare Co-op policy or written agreement.

Share Purchase & Cancellation Terms

A request to cancel a new Preferred Share purchase may be made within the first three days following purchase, subject to the applicable agreement and law.

After the applicable cancellation period, any redemption, reimbursement, transfer, repurchase, assignment, or other disposition of a Preferred Share is governed by the Fare Co-op Bylaws, applicable agreements, Board approval requirements, and applicable law.

Important: Preferred Shares are not publicly traded. Fare Co-op does not guarantee any dividend, financial return, redemption amount, or increase in share value.

Partner Portal Registration

Register Your Fleet

All fleet owners must register through the Fare Co-op Partner Portal and complete the required fleet onboarding process.

Register through the Fare Co-op Partner Portal

Preferred Share ownership, compensation, maintenance requirements, voting rights, distributions, fleet assignments, transfers, and other rights are governed by the Local Driver Federation Cooperative Bylaws, applicable membership or subscription agreements, Board-approved policies, and applicable law.

How Ride Costs Are Calculated

The total amount a customer pays for a ride is made up of ride hard costs, fare components that generate ride profit, and any applicable tolls or tips.

At a Glance

Customer Total = Ride Hard Costs + Ride Profit Components + Applicable Tolls + Tips

1. Ride Hard Costs

These are costs associated with processing and completing the ride before ride profits are shared.

Hard Cost	How It Works
Insurance	The applicable insurance cost charged based on traveled miles.
Local / Municipal Taxes	Applicable taxes, assessments, or government-required ride charges.
Credit Card Processing	4.5% to cover applicable Stripe transaction and payment-processing costs.
Tolls	Where applicable, tolls are added to the ride and 100% of the toll amount is paid to the driver.
Tips	Optional customer tips are paid 100% to the driver.

Tolls & Tips Go to the Driver

Fare Co-op does not share in driver toll reimbursements or tips. Where applicable, 100% of toll amounts and 100% of customer tips are paid to the driver.

2. Ride Profit Components

These are the fare components that make up the revenue portion of the ride. After applicable hard costs, the resulting ride profits are shared according to the driver’s applicable Fare Co-op membership and compensation terms.

Fare Component	How It Is Calculated
Distance	Calculated based on the applicable per-mile rate, with or without a base fare depending on the market and fare structure.
Time	Calculated using the applicable time rate and may include applicable wait time.
Booking Fee	The applicable booking fee charged as part of the ride fare.
Cancellation Fee	Applied when a cancellation qualifies for a fee under the applicable Fare Co-op cancellation policy.
Minimum Fare	If the calculated distance and time charges are below the applicable minimum fare, the minimum fare applies instead.

How Ride Profits Are Shared

Ride profits are calculated after applicable hard costs. The remaining applicable platform profit is then shared between Fare Co-op and the driver according to the driver’s membership type and current compensation structure.

Tolls and tips are handled separately and are paid 100% to the driver.

Important: Actual ride pricing, rates, fees, taxes, insurance costs, minimum fares, cancellation fees, and other charges may vary by market and applicable Fare Co-op pricing or regulatory requirements.

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Become A Fare Co-op Member

Fare Co-op Membership Terms for Non-Drivers

Compare Your Participation Options

You May Own Multiple Preferred Shares

How Maintenance Fees Work

Current Preferred Share Pricing

Important Information About Preferred Shares

Using Shares for a Fleet

If You Choose to Drive

Background Check

Required Documents

Driver & Vehicle Standards

Preferred Share Rights & Transfers

Fare Co-op Membership Terms for Drivers

Compare Your Membership Options

You May Own Multiple Preferred Shares

How Maintenance Fees Work

Current Preferred Share Pricing

Preferred Shareholder Benefits & Requirements

Payouts

Driver Requirements

Background Check

Required Documents

Driver & Vehicle Standards

Share Purchase & Cancellation Terms

Fare Co-op Membership Terms for Fleet Owners

Compare Your Fleet Membership Options

You May Own Multiple Preferred Shares

How Fleet Maintenance Fees Work

Current Preferred Share Pricing

Preferred Fleet Benefits & Requirements

Compensation & Payments

What the Maintenance Fee Supports

Fleet Qualification Requirements

Business & Regulatory Requirements

Driver & Vehicle Documentation

Driver & Vehicle Standards

Share Purchase & Cancellation Terms

Partner Portal Registration

Register Your Fleet

How Ride Costs Are Calculated

At a Glance

1. Ride Hard Costs

Tolls & Tips Go to the Driver

2. Ride Profit Components

How Ride Profits Are Shared