Document:

Exhibit 10.14

 

Agreement between Quest Patent Research Corporation, Quest Licensing Corporation and Allied Standard Limited

 

WHEREAS,

 

Quest Licensing Corporation ("Quest")
is the owner by assignment from Allied Standard Limited ("Allied"), dated October 31, 2012, of all of its right title
and interest in and to, including all rights to sue for past infringement as well as all rights to all pending continuation and/or
divisional patent applications claiming priority to, United States Patent Number 7,194,468 entitled APPARATUS AND A METHOD FOR
SUPPLYING INFORMATION ("the '468 Portfolio").

 

WHEREAS,

 

On October 31, 2012, Allied and
Quest entered into an Agreement entitled Agreement Between Quest Licensing Corporation and Allied Standard Limited ("the
Quest Agreement"). Under the Quest Agreement, Allied was entitled to receive 50% of the issued and outstanding stock
in Quest, as well as assume certain obligations in connection with the monetization of the '468 Portfolio. A copy of the Quest
Agreement is attached as Exhibit A.

 

WHEREAS,

 

Quest Patent Research Corporation ("QPRC")
was to retain ownership of the remaining 50% of the issued and outstanding stock in Quest.

 

WHEREAS,

 

QPRC, Quest, and Allied are willing
to, and have agreed to modify the Quest Agreement on the terms set forth below.

 

WHEREAS,

 

In consideration for QPRC
agreeing to fund a monetization program for the '468 Portfolio, Allied agrees to relinquish its entitlement to receive 50% of
the issued and outstanding stock in Quest while continuing to retain its entitlement to payment of License Fees as set forth specifically
in Paragraphs 8 and 9 of the Quest Agreement. The conditional promise to relinquish its entitlement to receive 50% of the issued
and outstanding stock in Quest by Allied will only become a binding obligation upon the full
and complete execution of this agreement by Allied Standard and Quest, and further upon the full and complete execution by Quest
of a formal retainer agreement with outside counsel and further upon payment of the initial retainer to outside counsel.

 

    	 

    	 

    

 

NOW THEREFORE, in consideration
of the promises and undertakings set forth herein and the other good and valuable consideration described more fully below, QPRC,
Quest and Allied (collectively "the Parties") hereby agree as follows:

 

	1)	Allied relinquishes its entitlement under the Quest Agreement to 50%
    of the issued and outstanding shares of Quest.

 

	2)	Except for the right to receive License Fees, if any, generated from the monetization of
the '468 Portfolio, as expressly set forth in Paragraphs 8 and 9 of the Quest Agreement, and except as expressly provided in paragraphs
3 and 4, immediately below, Allied has no further rights or interests in Quest and the '468 Portfolio, effective as of:

 

	 	a.	the execution of this Agreement by QPRC and Allied;

 

	 	b.	the execution of a formal retainer agreement with outside counsel engaged to commence the monetization program; and

 

	 	c.	the confirmation of payment of the initial retainer in the amount of $100,000 within 30 days.

 

	3)	Quest agrees that it shall not transfer, assign or sell the '468 Portfolio, to any third party
without the express prior written consent of Allied, which consent shall not be unreasonably withheld. With notice to Allied,
Quest may transfer the '468 Portfolio to another wholly owned subsidiary of QPRC which shall undertake the same obligations.

 

	4)	Quest further agrees that in calculating the amounts due to Allied under Paragraphs 8 and 9
    of the Quest Agreement, it shall not include as costs and expenses to be deducted before distribution to the partners,
    without Allied's prior written consent, which
consent shall not be unreasonably withheld, the salaries of any Quest employee, any office rental costs or any extraordinary expenditures
which are hereby defined to mean expenditures outside of those necessarily incurred in the ordinary course of the business of managing
the '468 Portfolio enforcement and licensing program.

 

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	5)	Quest agrees that if the Moto Lampken law firm withdraws or is replaced as counsel in the enforcement proceedings, Quest will retain substitute legal counsel of comparable skills and reputation and shall advise Allied of any contemplated change of counsel as soon as Quest becomes aware of such facts.

 

	6)	QPRC represents that it is a corporation duly formed and existing under the laws of the State of Delaware and that it has the authority to enter into this agreement and to bind the company to the obligations set forth.

 

	7)	Quest represents that is a corporation duly formed and existing under the laws of the State of New York and that it has the authority to enter into this agreement and to bind the company to the obligations set forth. Allied hereby acknowledges that in the Quest Agreement and in the Assignment document executed as part of the Quest Agreement, Quest was mistakenly identified as a Delaware corporation rather than a New York corporation and hereby further confirms that at the time it executed the Quest Agreement and the Assignment it intended to do so without regard to the state of incorporation of Quest which was not material to the transaction.

 

	8)	Allied Standard represents that is a corporation duly formed and existing under the laws of Hong Kong, China and that it has the authority to enter into this agreement and to bind the Company to the obligations set forth herein.

 

	9)	The provisions of this Agreement are severable and distinct from one another, and, if at any time any of such provisions is or becomes invalid, illegal or unenforceable, the validity, legality or enforceability of the others shall not in any way be affected or impaired thereby.

 

	10)	The parties hereto agree to execute any additional documents in the future which may be necessary to effectuate the intent of the parties or to cure any mistakes or inaccuracies.

 

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	11)	This Agreement and any disputes or claims related thereto or arising out of or in connection with its subject matter shall be
governed exclusively by and under the laws of the State of New York, without reference to its choice of law and conflict of law
provisions. The Parties further agree that all disputes arising hereunder shall be resolved in the federal and state courts located
in the State of New York located in New York City, which shall be the exclusive forum for the resolution of all such disputes
and the Parties hereby agree to submit to the personal jurisdiction of such courts and to accept service of process by certified
or registered mail return receipt requested.

 

New York, New York

Agreed to this 1st day of April, 2014

  

	QUEST PATENT RESEARCH CORPORATION	 	ALLIED STANDARD LIMITED
	 	 	 	 	 
	By:	/s/ Jon Scahill	 	By:	
		Jon Scaill, President			Authorised Signatory

   

	Quest Licensing Corporation	 	
	 	 	 	 	 
	By:	/s/ Jon Scahill	 		
		Jon Scaill, President			

 

 

 

4Exhibit 10.15

 

Common
Stock Purchase Warrant

of

Quest
Patent Research Corporation

 

		1.	Grant: Burton Goldstein (“Holder”), is entitled to purchase
                                                                                  from Quest Patent Research Corporation, a Delaware corporation (the “Company”), five million (5,000,000)
                                                                                  shares of the common stock, par value $0.00003 per share (“Common Stock”), of the Company at an exercise
                                                                                  price per share (the “Exercise Price”) of four tenths of one cent ($0.004).

 

		2.	Vesting of Warrants: This Warrant is granted and deemed to be effective as of
                                                                                  March 1, 2008 (the “Grant Date”). Commencing on such date, the Warrant is exercisable by Holder. This
                                                                                  Warrant shall expire on March 1, 2018 (the “Expiration Date”).

 

		3.	Exercise: The Warrant may be exercised only by Holder (or his guardian or legal representative) and may not be transferred
by Holder except by will or the applicable laws of descent and distribution. However, in the event that Holder shall decease and
the exercise period is still open (prior to the Expiration Date), the Warrant may be exercised for a period of one year (not to
extend past the Expiration Date) by Holder’s estate. The Warrant may be exercised, in whole or in part, from time to time
(to the extent vested pursuant to Section 2 hereof) by written notice to the Secretary of the Company at its principal office specifying
the number of shares to be purchased and enclosing the purchase price therefore in cash or by check or by cashless exercise. The
Company shall cause certificates for any shares of Common Stock purchased hereunder to be delivered following the receipt of such
notice and payment.

 

		4.	Adjustments: In the event that the outstanding shares of the Common Stock shall be
                                                                                  changed in number, class or character by reason of any split-up, change of par value, stock dividend, combination or
                                                                                  reclassification of shares, recapitalization, merger, consolidation, reorganization, liquidation or other corporate change,
                                                                                  or shall be changed in value by a reason of any so-called spin-off, dividend in partial liquidation or other special
                                                                                  distribution or transaction having an effect similar to any of the foregoing, the Company shall make such adjustments, if
                                                                                  any, in the number, kind and purchase price of shares covered by the Warrant as the Board of Directors may determine to
                                                                                  be appropriate in order to prevent dilution or enlargement of the rights of Holder that otherwise would result.

 

		5.	Miscellaneous: Notwithstanding any other provision hereof, the Warrant shall not be exercisable if such exercise would
involve a violation of any applicable Federal or State securities law. The Company may require as a condition to the exercise of
this Warrant that appropriate provisions be made for payment of any applicable federal, state or local withholding taxes in connection
with the grant, exercise or disposition of the Warrant.

 

    	 

    	 

    

 

 

Executed on the ___ day of October 2014, but effective
as of the Grand Date.

 

	 	Quest
    Patent Research Corporation
	 	 
	 	 
	 	Jon
    Scahill
	 	President & CEO

 

The undersigned Holder hereby acknowledges
receipt of an executed original hereof and accepts the Warrant granted hereunder on and subject to the terms stated herein.

 

Holder acknowledges that he/she has
been informed that the shares of Common Stock to be issued upon exercise of the Warrant have not been registered under the Securities
Act of 1933 (the “Securities Act”) and agrees that he will not make any disposition of such shares unless either (a)
such shares have been registered under the Securities Act or (b) an exemption from the registration provisions of the Securities
Act is applicable to the Holder’s proposed disposition of such shares. The certificates representing shares of Common Stock
issuable upon exercise of the Warrant shall bear a legend substantially as follows:

 

“The shares represented by this certificate have not
been registered under the Securities Act of 1933. The shares have been acquired for investment and may not be sold, transferred
or assigned in the absence of an effective registration statement for these shares under the Securities Act of 1933 or an opinion
of the Company’s counsel that registration is not required under said Act.”

 

	 	 
	 	Burton Goldstein
	 	Holder

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