LETTER OF INTENT 


 


11 June, 2014


 


World
Moto and Forever Network and Mobile Advertising Ventures







 


The following sets out the basic terms upon which World Moto
grants Forever Network the exclusive distribution rights for the Wheelies in Thailand for a term of one year. The terms are not
comprehensive and we expect that additional terms, including reasonable warranties and representations, will be incorporated
into a formal agreement (the "Formal Agreement") to be negotiated. The basic terms are as follows:


 


The parties World Moto Inc. and Forever Network and Mobile Advertising
Ventures shall form a joint venture Thailand registered company (the ‘NewCo”) whereby the ownership is as follows:


 


		1.	World Moto Inc., a Nevada Corporation, shall own 45% of the NewCo



 


		2.	Forever Network, a Thailand Corporation, shall own 50% of the NewCo



 


		3.	Mobile Advertising Ventures, a Thailand Corporation, shall own 5% of the NewCo



 


Closing: The closing (the "Closing") of the
transactions contemplated by this Letter of Intent will occur no later than ________ or such other date as may from time to time
be mutually agreed upon in writing by the parties whereby the parties shall execute a Formal Agreement.


 


Term of agreement: The term of the agreement shall be
for one year from the date of the Formal Agreement.


 


Exclusive Rights: The NewCo shall have the exclusive
rights to all Wheelies advertising in Thailand for the period of term except whereby World Moto retains the right to use Wheelies
to advertise its proprietary YES service.


 


Motorcycle brands: If Newco signs any exclusive deals
with any motorcycle manufacturer during the period of the term for use of the Wheelies, World Moto shall also use the same manufacturer
for advertising its YES service.


 


Duties of each party:


 


World Moto shall be responsible for the following:


 


Technology (Wheelies)


Maintenance (Wheelies)


Spare parts (Wheelies)


 




    	 



    	 



    

 


Technician (on-hand during roadshow)


Service on site


 


Forever Network shall be responsible for the following:


 


Motorcycles


Speakers


Design and Decoration


Marketing


Sales


Licenses/permits/waivers from authorities/local officials


 





World Moto and Forever Network shall be responsible for the
following on a fifty-fifty percent shared cost basis:


 


Gas and oil


Staff Drivers


Insurance


Uniforms and helmets


Misc. during roadshow, e.g., food and shelter


 


Revenue Share: All revenues shall be booked into NewCo,
and monthly disbursements of any profits will be paid out on a pro rata basis bases on the percentage of ownership by each party.
Any licensing fees or costs paid by Newco in support of one of the responsibilities assigned to World Moto or Forever Network above
will be deducted entirely from the profit disbursement of the respective party.


 


Representations of each party. The validity of each and
every one of the following representations of each Party will be a condition precedent to the Closing contemplated by this Agreement
and to be contemplated by the Formal Agreement and that each party has the right, power and authority to enter into agreements
with respect thereto;


 


Proper Law: This Letter of Intent will be governed by
and construed in accordance with the law of the State of Nevada and the parties hereby attorn to the jurisdiction of the Courts
of competent jurisdiction of the State of Nevada, any proceeding hereunder.


 


Counterparts and Electronic Means: This Letter of Intent
may be executed in several counterparts, each of which will be deemed to be an original and all of which will together constitute
one and the same instrument. Delivery to us of an executed copy of this Letter of Intent by electronic facsimile transmission or
other means of electronic communication capable of producing a printed copy will be deemed to be execution and delivery to us of
this Letter of Intent as of the date of successful transmission to us.


 


	World Moto Inc.,	 
	 	 
	/s/ Paul Giles	 
	 	 
	Paul Giles – CEO and Director	 


 




    	 



    	 



    

 


	Forever Network	 
	 	 
	/s / Preecha Siriboonsong	 
	Name: Preecha Siriboonsong	 
	 	 
	Mobile Advertising Ventures	 
	 	 
	/s/ Rafi Markarian	 
	 	 
	Name: Rafi Markarian