Document:

Exhibit 10.1

 

MEMBERSHIP INTEREST PURCHASE AGREEMENT

MEMBERSHIP INTEREST
PURCHASE AGREEMENT (this “Agreement”),
dated as of May 10, 2019, by and between GLEN
EAGLES ACQUISITION LP, a Delaware limited partnership, having an address at 8600 Inwood Road, Dallas, Texas 75209 (“Seller”)
and GOPHER PROTOCOL, INC., a Nevada corporation, having an address at 2500 Broadway, Suite F-125, Santa Monica, CA
90404 (“Purchaser”).

RECITALS

 

WHEREAS,
Seller executed a promissory note, dated as of March 1, 2019 (the “Gopher Note”), in favor of Purchaser in the
amount of $1,200,000; and

WHEREAS,
as of the date hereof, Seller remains indebted to Purchaser in the aggregate amount of $1,200,000 (the “Remaining Gopher
Balance”); and

WHEREAS,
Seller owns 49% of the membership interests (the “Interests”)
of ADVANGELISTS, LLC, a Delaware limited liability company (the “Company”);
and

WHEREAS,
Seller acquired its membership interests in the Company pursuant to an Agreement and Plan of Merger, dated as of November 20, 2018
(the “Merger Agreement”), as amended on December 6, 2018, by and among Seller,
the Company, Mobiquity Technologies, Inc., a New York corporation (“Mobiquity”), AVNG Acquisition Sub,
LLC, a Delaware limited liability company, and Deepankar Katyal; and

WHEREAS,
pursuant to the terms of the Merger Agreement, Seller executed a promissory note, dated as of December 6, 2018 (the “AVNG
Note”), in favor of Deepankar Katyal in his capacity as the representative of the former members of the Company (the
“Payee”), in the amount of $9,500,000, of which $2,025,000 (which reflects a payment of $525,000 made on or
about May 3, 2019) has been repaid as of the date hereof; and

WHEREAS,
as of the date hereof, Seller remains indebted to Payee under the AVNG Note in the aggregate amount of $7,475,000 (the “Remaining
AVNG Balance”); and

WHEREAS,
upon the terms, conditions and consideration set
forth in this Agreement, Seller
desires to sell to Purchaser, and Purchaser desires to purchase from Seller, the Interests.

NOW,
THEREFORE, in consideration of the representations,
warranties, covenants
and agreements set forth in this
Agreement, and for other good and valuable
consideration the receipt and sufficiency
of which is hereby
acknowledged, the parties
hereto hereby agree as
follows:

l.       Purchase
and Sale of Interests.

1.1             
Agreement to Purchase and Sell. As of the Closing (defined below), and subject to the
terms and conditions of this
Agreement, Seller hereby
sells, assigns, transfers, conveys and delivers to Purchaser, and Purchaser hereby purchases
and accepts from Seller, all of Seller’s right, title and interest in and to the Interests, free and clear of any and all
liens, charges, pledges, security interests, claims, mortgages, options, encumbrances, rights of first refusal, conditions, covenants
and other restrictions (“Liens”).

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1.2             
Consideration. In consideration for the sale of the Interests, as of the Closing Purchaser
shall:

(i)       fully
release and discharge the Remaining Gopher Balance evidenced by the Gopher Note; and

(ii)       assume
the AVNG Note from the Seller, including, without limitation, the payment of the Remaining AVNG Balance under the AVNG Note, and
all interest and fees with respect thereto, and all obligations of Seller with respect to the AVNG Note arising on and after the
Closing (the “Assumed Note”).

1.3       Seller
shall pay, and shall reimburse Purchaser for, any sales, use or transfer taxes, documentary charges, recording fees or similar
taxes, charges, fees or expenses, if any, that become due and payable as a result of the transactions contemplated by this Agreement.

1.4       Purchaser
and the Company shall be entitled to deduct and withhold from the Purchase Price all taxes that Purchaser and the Company
may be required to deduct and withhold under any provision of tax law. All such withheld amounts shall be treated as delivered
to Seller hereunder.

2.       Closing.

2.1       The
closing of the transactions contemplated by this Agreement (the “Closing”) shall take place simultaneously with
the execution of this Agreement by the parties hereto.

2.2       At
the Closing, Seller shall deliver to Purchaser the following:

(i)       a
signed counterpart to this Agreement;

(ii)       a
membership interest power conveying the Interests to Purchaser;

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(iii)       a
signed counterpart of the Assignment and Assumption Agreement, the form of which is attached hereto as Exhibit A, related to the
assignment and assumption of the Assumed Note (the “Assignment and Assumption Agreement”);

(iv)       copies
of all consents, approvals, waivers and authorizations referred to in Section 4.2 hereof; and

(v)       a
certificate of the general partner of Seller certifying as to (i) the resolutions of the general partner(s) (or equivalent managing
body) of Seller, duly adopted and in effect, which authorize the execution, delivery and performance of this Agreement and
the transactions contemplated hereby, and (ii) the names and signatures of the general partner(s) (or equivalent managing body)
of Seller authorized to sign this Agreement and the documents to be delivered hereunder.

2.3       At
the Closing, Purchaser shall deliver to Seller

(i)       a
signed counterpart to this Agreement;

(ii)       a
signed counterpart of the Assignment and Assumption Agreement;

(iii)       Copies
of all consents, approvals, waivers and authorizations referred to in Section 3.2 hereof; and

(vi)       A
certificate of the Secretary or Assistant Secretary (or equivalent officer) of Purchaser certifying as to (i) the resolutions of
the board of directors (or equivalent managing body) of Purchaser, duly adopted and in effect, which authorize the execution, delivery
and performance of this Agreement and the transactions contemplated hereby, and (ii) the names and signatures of the
officers of Purchaser authorized to sign this Agreement and the documents to be delivered hereunder.

3.       Representations
and Warranties of Purchaser. Purchaser
hereby represents and
warrants to Seller that:

3.1       Purchaser
is a corporation duly organized, validly existing and in good standing under the laws of the state of Nevada. Purchaser has full
corporate power and authority to enter into this Agreement and the documents to be delivered hereunder, to carry out
its obligations hereunder and to consummate the transactions contemplated hereby. The execution, delivery and performance by Purchaser
of this Agreement and the documents to be delivered hereunder and the consummation of the transactions contemplated hereby
have been duly authorized by all requisite corporate action on the part of Purchaser. This Agreement and the documents
to be delivered hereunder have been duly executed and delivered by Purchaser, and (assuming due authorization, execution and delivery
by Seller) this Agreement and the documents to be delivered hereunder constitute legal, valid and binding obligations
of Purchaser enforceable against Purchaser in accordance with their respective terms.

3.2       The
execution, delivery and performance by Purchaser of this Agreement and the documents to be delivered hereunder, and the
consummation of the transactions contemplated hereby, do not and will not: (a) violate or conflict with the certificate of incorporation,
by-laws or other organizational documents of Purchaser; or (b) violate or conflict with any judgment, order, decree, statute, law,
ordinance, rule or regulation applicable to Purchaser. Except for the consent of Deepankar Katyal, no consent, approval, waiver
or authorization is required to be obtained by Purchaser from any person or entity (including any governmental authority) in connection
with the execution, delivery and performance by Purchaser of this Agreement and the consummation of the transactions
contemplated hereby.

3.3.       No
broker, finder or investment banker is entitled to any brokerage, finder's or other fee or commission in connection with the transactions
contemplated by this Agreement based upon arrangements made by or on behalf of Purchaser.

3.4       There
is no claim, action, suit, proceeding or governmental investigation ("Action")  pending or, to Purchaser’s
knowledge, threatened against or by Purchaser or any affiliate of Purchaser that challenges or seeks to prevent, enjoin or otherwise
delay the transactions contemplated by this Agreement. No event has occurred or circumstances exist that may give rise or
serve as a basis for any such Action.

4.       Representations
and Warranties of Seller. Seller hereby represents
and warrants to Purchaser
that:

4.1        Seller
is a limited partnership duly organized, validly existing and in good standing under the laws of the state of Delaware. Seller
has full limited partnership power and authority to enter into this Agreement and the documents to be delivered hereunder,
to carry out its obligations hereunder and to consummate the transactions contemplated hereby. The execution, delivery and performance
by Seller of this Agreement and the documents to be delivered hereunder and the consummation of the transactions contemplated
hereby have been duly authorized by all requisite limited partnership action on the part of Seller. This Agreement and
the documents to be delivered hereunder have been duly executed and delivered by Seller, and (assuming due authorization, execution
and delivery by Purchaser) this Agreement and the documents to be delivered hereunder constitute legal, valid and binding
obligations of Seller, enforceable against Seller in accordance with their respective terms.

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4.2        The
execution, delivery and performance by Seller of this Agreement and the documents to be delivered hereunder, and the
consummation of the transactions contemplated hereby, do not and will not: (a) violate or conflict with the certificate of limited
partnership or other organizational documents of Seller; (b) violate or conflict with any judgment, order, decree, statute, law,
ordinance, rule or regulation applicable to Seller; (c) conflict with, or result in (with or without notice or lapse of time or
both) any violation of, or default under, or give rise to a right of termination, acceleration or modification of any obligation
or loss of any benefit under any contract or other instrument to which Seller is a party; (d) result in any violation, conflict
with or constitute a default under the Company's organizational documents or the Amended and Restated Operating Agreement of
the Company, dated December 7, 2018 (the “Operating Agreement”); or (e) result in the creation or imposition
of any Lien on the Interests. Except for the consent of Deepankar Katyal, no consent, approval, waiver or authorization is
required to be obtained by Seller from any person or entity (including any governmental authority) in connection with the execution,
delivery and performance by Seller of this Agreement and the consummation of the transactions contemplated hereby.

4.3       There
is no Action of any nature pending or, to Seller's knowledge, threatened against or by Seller (a) relating to or affecting the 
Interests; or (b) that challenges or seeks to prevent, enjoin or otherwise delay the transactions contemplated by this Agreement.
No event has occurred or circumstances exist that may give rise to, or serve as a basis for, any such Action.

4.4       Seller
is the sole legal, beneficial, record and equitable owner of the Interests, free and clear of any and all Liens whatsoever,
but subject to the terms and conditions of the Company’s Operating Agreement. To Seller's knowledge, the Interests were
issued in compliance with applicable laws. To Seller's knowledge, the Interests were not issued in violation of the organizational
documents or Operating Agreement of the Company or any other agreement, arrangement or commitment to which Seller or the Company
is a party and are not subject to or in violation of any preemptive or similar rights of any person.

4.5       No
broker, finder or investment banker is entitled to any brokerage, finder's or other fee or commission in connection with the transactions
contemplated by this Agreement based upon arrangements made by or on behalf of Seller.

5.       Miscellaneous.

5.1       Further
Assurances. Following the Closing, each of the parties
hereto shall execute and deliver such additional documents, instruments, conveyances and assurances, and take such further actions
as may be reasonably required to carry out the provisions hereof and give effect to the transactions contemplated by this Agreement.

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5.2
Governing Law; Waiver of Jury Trial.
This Agreement shall be governed
by the internal law of the State of California without
regard to the choice of law provisions
of any jurisdiction. Each party hereto irrevocably
submits to the exclusive jurisdiction of the courts located within Los Angeles County, California for the purposes of any action
or claim arising out of this Agreement or any transaction contemplated hereby, and agrees to commence any such action or claim
only in such courts. Each party acknowledges and agrees that any controversy which may arise under
this Agreement is likely to involve complicated and difficult issues and, therefore, each such party irrevocably and
unconditionally waives any right it may have to a trial by jury in respect of any legal action arising out of or relating to this Agreement or
the transactions contemplated hereby.

5.3        Counterparts.
This Agreement may be executed in two
or more counterparts, each of which shall be deemed an
original, but all of which together shall
constitute one and the same instrument.
Counterparts may be
delivered via facsimile,
electronic mail (including pdf) or other transmission
method and any counterpart so delivered
shall be deemed to have been duly
and validly delivered
and be valid and effective for all purposes.

5.4        Headings.
The titles and subtitles used
in this Agreement are used
for convenience only and are not to be considered
in construing or interpreting
this Agreement.

5.5        Expenses.
Except as expressly set
forth herein, each party hereto shall
bear its own costs
and expenses in connection with
this Agreement and the transactions
contemplated hereby, including
all legal, accounting,
financial advisory,
consulting and all other fees and expenses
of third parties, whether or not the transactions
contemplated by this Agreement
are consummated.

5.6       Amendments.
This Agreement shall not be amended, modified or terminated except by a written agreement dated subsequent to the date of this
Agreement and signed on behalf of Purchaser and Seller.

5.7        Severability.
The invalidity or unenforceability
of any provision
hereof shall in no way affect the validity
or enforceability of any other provision.

5.8        Entire
Agreement. This Agreement and the other agreements, documents and instruments referred
to herein or contemplated hereby constitute the full and entire understanding
and agreement between the parties with respect
to the subject matter hereof, and any
other written or oral agreement relating to the
subject matter hereof existing between
the parties are expressly
canceled.

5.9       Representation
by Counsel; Interpretation. The parties hereto acknowledge that this Agreement has been prepared by Ruskin Moscou Faltischek,
P.C. (“RMF”), counsel for Mobiquity, and that RMF does not represent either of the parties hereto. The parties
hereto further acknowledge that RMF has not provided any legal or tax advice or guidance to the parties hereto with respect to
the transactions contemplated herein, and that they have been afforded the opportunity to be represented by counsel in connection
with this Agreement and the transactions contemplated hereby and they have either done so or elected not to do so. Accordingly,
any rule or law or any legal decision that would require the interpretation of any claimed ambiguities in this Agreement against
the party that drafted it has no application and is expressly waived by the parties hereto. The provisions of this Agreement shall
be interpreted in a reasonable manner to give effect to the intent of the parties hereto.

[Remainder
of Page Intentionally Left Blank; Signature Page Follows]

 

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IN WITNESS WHEREOF, the parties have executed
this Agreement as of the date first written above.

 

 

	
        SELLER:

         

        GLEN EAGLES ACQUISITION LP
        

         

         

         

	
        By: /s/ Darren
        Dunckel

        Name: Darren Dunckel

        Title: Managing Partner

 

	
        PURCHASER:

         

        

        GOPHER PROTOCOL, INC. 

         

         

         

	
        By: /s/ Mansour Khatib

        Name: Mansoor Khatib

        Title: Chief Marketing Officer

 

 

 

    	6 

    	 

    

  

 

 

EXHIBIT A

 

Assignment and Assumption
Agreement

 

    	7Exhibit 10.2

 

MEMBERSHIP INTEREST PURCHASE AGREEMENT

MEMBERSHIP INTEREST
PURCHASE AGREEMENT (this “Agreement”),
dated as of May 10, 2019, by and between GOPHER
PROTOCOL, INC., a Nevada corporation, having an address at 2500 Broadway, Suite F-125, Santa Monica, CA 90404 (“Seller”)
and MOBIQUITY TECHNOLOGIES, INC., a New York corporation, having an address at 35 Torrington Lane, Shoreham, New
York 11786 (“Purchaser”).

RECITALS

 

WHEREAS,
Seller owns 49% of the membership interests (the “Interests”)
of ADVANGELISTS, LLC, a Delaware limited liability company (the “Company”);
and

WHEREAS,
Seller acquired its membership interests in the Company pursuant to a Membership Interest Purchase Agreement, dated as of May 10,
2019 (the “GEAL Agreement”), by and between Seller and Glean Eagles Acquisition
LP (“GEAL”); and

WHEREAS,
pursuant to the terms of the GEAL Agreement, Seller assumed all obligations under a promissory note originally made by GEAL, dated
as of December 6, 2018 (the “AVNG Note”), in favor of Deepankar Katyal in his capacity as the representative
of the former members of the Company (“Payee”), in the amount of $9,500,000, of which $2,025,000 (which reflects
a payment of $525,000 made on or about May 3, 2019) has been repaid as of the date hereof; and

WHEREAS,
as of the date hereof, Seller remains indebted to Payee under the AVNG Note in the aggregate amount of $7,475,000,000 (the “Balance”);
and

WHEREAS,
upon the terms, conditions and consideration set
forth in this Agreement, Seller
desires to sell to Purchaser, and Purchaser desires to purchase from Seller, the Interests; and 

WHEREAS,
Seller and Purchaser are parties to an agreement, dated as of August 29, 2018 (the “Investment Agreement”),
pursuant to which, among other things, Seller purchased from Purchaser 1,000 shares of Purchaser’s Series AAAA Preferred
Stock (the “Preferred Stock”), which such Preferred Stock is convertible into an aggregate of up to 100,000,000
shares of Purchaser’s common stock and 150,000,000 common stock purchase warrants (the “Warrants”);

NOW,
THEREFORE, in consideration of the representations,
warranties, covenants
and agreements set forth in this
Agreement, and for other good and valuable
consideration the receipt and sufficiency
of which is hereby
acknowledged, the parties
hereto hereby agree as
follows:

l.       Purchase
and Sale of Interests.

1.1             
Agreement to Purchase and Sell. As of the Closing (defined below), and subject to the
terms and conditions of this
Agreement, Seller hereby
sells, assigns, transfers, conveys and delivers to Purchaser, and Purchaser hereby purchases
and accepts from Seller, all of Seller’s right, title and interest in and to the Interests, free and clear of any and all
liens, charges, pledges, security interests, claims, mortgages, options, encumbrances, rights of first refusal, conditions, covenants
and other restrictions (“Liens”).

    	1 

    	 

    

 

1.2             
Consideration. In consideration for the sale of the Interests, as of the Closing Purchaser
shall:

(i)       assume
the AVNG Note from the Seller, including, without limitation, the payment of the Balance under the AVNG Note, and all interest
and fees with respect thereto, and all obligations of Seller with respect to the AVNG Note arising on and after the Closing (the
“Assumed Note”); and

(ii)       deliver
to Seller an amendment to the Investment Agreement which shall provide that the Warrants issuable upon conversion of the Preferred
Stock may be exercised on a “cashless basis” (the “Amendment”).

1.3       Seller
shall pay, and shall reimburse Purchaser for, any sales, use or transfer taxes, documentary charges, recording fees or similar
taxes, charges, fees or expenses, if any, that become due and payable as a result of the transactions contemplated by this Agreement.

1.4       Purchaser
and the Company shall be entitled to deduct and withhold from the Purchase Price all taxes that Purchaser and the Company
may be required to deduct and withhold under any provision of tax law. All such withheld amounts shall be treated as delivered
to Seller hereunder.

2.       Closing.

2.1       The
closing of the transactions contemplated by this Agreement (the “Closing”) shall take place simultaneously with
the execution of this Agreement by the parties hereto.

2.2       At
the Closing, Seller shall deliver to Purchaser the following:

(i)       a
signed counterpart to this Agreement;

    	2 

    	 

    

 

(ii)       a
membership interest power conveying the Interests to Purchaser;

(iii)       a
signed counterpart of the Assignment and Assumption Agreement, the form of which is attached hereto as Exhibit A, related to the
assignment and assumption of the Assumed Note (the “Assignment and Assumption Agreement”);

(iv)       copies
of all consents, approvals, waivers and authorizations referred to in Section 4.2 hereof;

(v)       a
signed counterpart of the Amendment, the form of which is attached hereto as Exhibit B; and

(vi)       a
certificate of the Secretary or Assistant Secretary (or equivalent officer) of Seller certifying as to (i) the resolutions of the
board of directors (or equivalent managing body) of Seller, duly adopted and in effect, which authorize the execution, delivery
and performance of this Agreement and the transactions contemplated hereby, and (ii) the names and signatures of the
officers of Seller authorized to sign this Agreement and the documents to be delivered hereunder.

2.3       At
the Closing, Purchaser shall deliver to Seller

(i)       a
signed counterpart to this Agreement;

(ii)       a
signed counterpart of the Assignment and Assumption Agreement;

(iii)       Copies
of all consents, approvals, waivers and authorizations referred to in Section 3.2 hereof;

(iv)       a
signed counterpart of the Amendment; and

(v)       A
certificate of the Secretary or Assistant Secretary (or equivalent officer) of Purchaser certifying as to (i) the resolutions of
the board of directors (or equivalent managing body) of Purchaser, duly adopted and in effect, which authorize the execution, delivery
and performance of this Agreement and the transactions contemplated hereby, and (ii) the names and signatures of the
officers of Purchaser authorized to sign this Agreement and the documents to be delivered hereunder.

3.       Representations
and Warranties of Purchaser. Purchaser
hereby represents and
warrants to Seller that:

3.1       Purchaser
is a corporation duly organized, validly existing and in good standing under the laws of the state of New York. Purchaser has full
corporate power and authority to enter into this Agreement and the documents to be delivered hereunder, to carry out
its obligations hereunder and to consummate the transactions contemplated hereby. The execution, delivery and performance by Purchaser
of this Agreement and the documents to be delivered hereunder and the consummation of the transactions contemplated hereby
have been duly authorized by all requisite corporate action on the part of Purchaser. This Agreement and the documents
to be delivered hereunder have been duly executed and delivered by Purchaser, and (assuming due authorization, execution and delivery
by Seller) this Agreement and the documents to be delivered hereunder constitute legal, valid and binding obligations
of Purchaser enforceable against Purchaser in accordance with their respective terms.

3.2       The
execution, delivery and performance by Purchaser of this Agreement and the documents to be delivered hereunder, and the
consummation of the transactions contemplated hereby, do not and will not: (a) violate or conflict with the certificate of incorporation,
by-laws or other organizational documents of Purchaser; or (b) violate or conflict with any judgment, order, decree, statute, law,
ordinance, rule or regulation applicable to Purchaser. Except for the consent of Deepankar Katyal, no consent, approval, waiver
or authorization is required to be obtained by Purchaser from any person or entity (including any governmental authority) in connection
with the execution, delivery and performance by Purchaser of this Agreement and the consummation of the transactions
contemplated hereby.

3.3.       No
broker, finder or investment banker is entitled to any brokerage, finder's or other fee or commission in connection with the transactions
contemplated by this Agreement based upon arrangements made by or on behalf of Purchaser.

3.4       There
is no claim, action, suit, proceeding or governmental investigation ("Action")  pending or, to Purchaser’s
knowledge, threatened against or by Purchaser or any affiliate of Purchaser that challenges or seeks to prevent, enjoin or otherwise
delay the transactions contemplated by this Agreement. No event has occurred or circumstances exist that may give rise or
serve as a basis for any such Action.

    	3 

    	 

    

 

4.       Representations
and Warranties of Seller. Seller hereby represents
and warrants to Purchaser
that:

4.1        Seller
is a corporation duly organized, validly existing and in good standing under the laws of the state of Nevada. Seller has full corporate
power and authority to enter into this Agreement and the documents to be delivered hereunder, to carry out its obligations
hereunder and to consummate the transactions contemplated hereby. The execution, delivery and performance by Seller of this Agreement and
the documents to be delivered hereunder and the consummation of the transactions contemplated hereby have been duly authorized
by all requisite corporate action on the part of Seller. This Agreement and the documents to be delivered hereunder have
been duly executed and delivered by Seller, and (assuming due authorization, execution and delivery by Purchaser) this Agreement and
the documents to be delivered hereunder constitute legal, valid and binding obligations of Seller, enforceable against Seller in
accordance with their respective terms.

4.2        The
execution, delivery and performance by Seller of this Agreement and the documents to be delivered hereunder, and the
consummation of the transactions contemplated hereby, do not and will not: (a) violate or conflict with the certificate of incorporation
or other organizational documents of Seller; (b) violate or conflict with any judgment, order, decree, statute, law, ordinance,
rule or regulation applicable to Seller; (c) conflict with, or result in (with or without notice or lapse of time or both) any
violation of, or default under, or give rise to a right of termination, acceleration or modification of any obligation or loss
of any benefit under any contract or other instrument to which Seller is a party; (d) result in any violation, conflict with or
constitute a default under the Company's organizational documents or the Amended and Restated Operating Agreement of
the Company, dated December 7, 2018 (the “Operating Agreement”); or (e) result in the creation or imposition
of any Lien on the Interests. Except for the consent of Deepankar Katyal, no consent, approval, waiver or authorization is
required to be obtained by Seller from any person or entity (including any governmental authority) in connection with the execution,
delivery and performance by Seller of this Agreement and the consummation of the transactions contemplated hereby.

4.3       There
is no Action of any nature pending or, to Seller's knowledge, threatened against or by Seller (a) relating to or affecting the 
Interests; or (b) that challenges or seeks to prevent, enjoin or otherwise delay the transactions contemplated by this Agreement.
No event has occurred or circumstances exist that may give rise to, or serve as a basis for, any such Action.

4.4       Seller
is the sole legal, beneficial, record and equitable owner of the Interests, free and clear of any and all Liens whatsoever,
but subject to the terms and conditions of the Company’s Operating Agreement. To Seller's knowledge, the Interests were
issued in compliance with applicable laws. To Seller's knowledge, the Interests were not issued in violation of the organizational
documents or Operating Agreement of the Company or any other agreement, arrangement or commitment to which Seller or the Company
is a party and are not subject to or in violation of any preemptive or similar rights of any person.

4.5       No
broker, finder or investment banker is entitled to any brokerage, finder's or other fee or commission in connection with the transactions
contemplated by this Agreement based upon arrangements made by or on behalf of Seller.

5.       Miscellaneous.

5.1       Further
Assurances. Following the Closing, each of the parties
hereto shall execute and deliver such additional documents, instruments, conveyances and assurances, and take such further actions
as may be reasonably required to carry out the provisions hereof and give effect to the transactions contemplated by this Agreement.

    	4 

    	 

    

 

5.2
Governing Law; Waiver of Jury Trial.
This Agreement shall be governed
by the internal law of the State of New York without regard
to the choice of law provisions
of any jurisdiction. Each party hereto irrevocably
submits to the exclusive jurisdiction of the courts located within Suffolk County, New York for the purposes of any action or claim
arising out of this Agreement or any transaction contemplated hereby, and agrees to commence any such action or claim only in such
courts. Each party acknowledges and agrees that any controversy which may arise under this Agreement is
likely to involve complicated and difficult issues and, therefore, each such party irrevocably and unconditionally waives any right
it may have to a trial by jury in respect of any legal action arising out of or relating to this Agreement or the transactions
contemplated hereby.

5.3        Counterparts.
This Agreement may be executed in two
or more counterparts, each of which shall be deemed an
original, but all of which together shall
constitute one and the same instrument.
Counterparts may be
delivered via facsimile,
electronic mail (including pdf) or other transmission
method and any counterpart so delivered
shall be deemed to have been duly
and validly delivered
and be valid and effective for all purposes.

5.4        Headings.
The titles and subtitles used
in this Agreement are used
for convenience only and are not to be considered
in construing or interpreting
this Agreement.

5.5        Expenses.
Except as expressly set
forth herein, each party hereto shall
bear its own costs
and expenses in connection with
this Agreement and the transactions
contemplated hereby, including
all legal, accounting,
financial advisory,
consulting and all other fees and expenses
of third parties, whether or not the transactions
contemplated by this Agreement
are consummated.

5.6       Amendments.
This Agreement shall not be amended, modified or terminated except by a written agreement dated subsequent to the date of this
Agreement and signed on behalf of Purchaser and Seller.

5.7        Severability.
The invalidity or unenforceability
of any provision
hereof shall in no way affect the validity
or enforceability of any other provision.

5.8        Entire
Agreement. This Agreement and the other agreements, documents and instruments referred
to herein or contemplated hereby constitute the full and entire understanding
and agreement between the parties with respect
to the subject matter hereof, and any
other written or oral agreement relating to the
subject matter hereof existing between
the parties are expressly
canceled.

5.9       Representation
by Counsel; Interpretation. The parties hereto acknowledge that this Agreement has been prepared by Ruskin Moscou Faltischek,
P.C. (“RMF”), counsel for Purchaser. The parties hereto further acknowledge that RMF has not provided any tax
advice or guidance to either of the parties hereto with respect to the transactions contemplated herein. Seller further acknowledges
that it has been afforded the opportunity to be represented by counsel in connection with this Agreement and the transactions contemplated
hereby and it has either done so or elected not to do so. Accordingly, any rule or law or any legal decision that would require
the interpretation of any claimed ambiguities in this Agreement against the party that drafted it has no application and is expressly
waived by the parties hereto. The provisions of this Agreement shall be interpreted in a reasonable manner to give effect to the
intent of the parties hereto.

[Remainder
of Page Intentionally Left Blank; Signature Page Follows]

 

    	5 

    	 

    

 

IN WITNESS WHEREOF, the parties have executed
this Agreement as of the date first written above.

 

    

 

	
        SELLER:

         

        GOPHER PROTOCOL, INC. 

         

         

         

	
        By: /s/ Mansour Khatib

        Name: Mansour Khatib

        Title: Chief Marketing Officer

 

	
        PURCHASER:

         

        MOBIQUITY TECHNOLOGIES, INC.
        

         

         

         

	
        By: /s/ Dean Julia

        Name: Dean Julia

        Title: Chief Executive Officer

 

 

 

    	6 

    	 

    

 

 

EXHIBIT A

 

Assignment and Assumption
Agreement

 

    	7 

    	 

    

 

EXHIBIT B

 

AMENDMENT

 

    	8

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