(a) Lessees.

1. (1) A taxicab may be leased to a taxicab driver.
2. (2) A taxicab may not be subject to a sublease agreement.

(b) Basic components of a lease. A taxicab lease must be in writing and contain information required by the Authority, including the following:

1. (1) The name, address and telephone contact information for each party.
2. (2) The certificate number or medallion number, or both, subject to the lease.
3. (3) The term of the lease.
4. (4) The monetary consideration for the lease, in United States dollars.
5. (5) Other consideration to be paid by a taxicab driver if different from that in paragraph (4).
6. (6) Specification of any service limitation of the taxicab in a city of the first class, including those related to partial-rights taxicabs.
7. (7) Written confirmation that a lease may be ended by either party only upon 10 days notice, or a period equal to the lease term if less than 10 days. This paragraph does not limit the rights of a party to terminate the lease for breach.
8. (8) The original dated and witnessed signature of the certificate holder and the taxicab driver.
9. (9) The driver’s certificate number and the expiration date then appearing on the driver’s certificate.