Document:

Exhibit 10.7

 

Summary of
Agreement

 

On April 24, 2012, usell.com, Inc. acquired
100% of EcoSquid Acquisition, Inc. (“Acquisition Corp”) by issuing 350,000 shares of Series D preferred stock to the
Acquisition Corp shareholders including 90,000 shares each to Messrs. Doug Feirstein, Daniel Brauser, and Nik Raman and 25,000
shares each to Mr. Michael Brauser and another usell shareholder. The Series D shares: (i) have a liquidation preference equal
to $10.00 per share, (ii) do not have voting rights and (iii) are not convertible into usell common stock.Exhibit 10.8

 

RESTRICTED STOCK AGREEMENT

 

This Restricted Stock
Agreement (this “Agreement”) entered into as of July 18, 2012, sets forth the terms and conditions of an award (this
“Award”) of restricted stock granted by Upstream Worldwide, Inc., a Delaware corporation (the “Company”),
to [See Schedule I] (the “Recipient”) outside of the 2008 Equity Incentive Plan.

 

1. Award. The Recipient
was granted 1,000,000 shares of restricted common stock (“Restricted Stock”). All certificates issued shall contain
an appropriate restrictive legend. This Agreement replaces any and all restricted stock agreements between the parties, if any,
with respect to this Award.

 

2. Vesting/Forfeiture.

 

(a) The shares of Restricted Stock
are fully vested. The Restricted Stock shall be unregistered unless the Company voluntarily files
a registration statement covering such shares with the Securities and Exchange Commission.

 

(b)
Notwithstanding any other provision of this Agreement, at the discretion of the Board of Directors or the Compensation
Committee, all shares of Restricted Stock subject to this Agreement shall be immediately forfeited in the event of:

 

(1) Purchasing or selling securities
of the Company in violation of the Company’s insider trading guidelines then in effect;

 

(2) Breaching any duty of confidentiality
including that required by the Company’s insider trading guidelines then in effect;

 

(3) Competing with the Company;
or

 

(4) Recruitment of Company personnel
after ceasing to be a director of the Company.

 

3. Profits on the Sale of Certain
Shares; Cancellation. If any of the events specified in Section 2(b) of this Agreement occur within one year from the last
day the Recipient last served as a director of the Company (the “Termination Date”), all profits earned from the Recipient’s
sale of the Restricted Stock during the two-year period commencing one year prior to the Termination Date shall be forfeited and
forthwith paid by the Recipient to the Company. Further, in such event, the Company may at its option cancel the shares of Restricted
Stock issued under this Agreement. The Company’s rights under this Section do not lapse one year from the Termination Date
but are a contract right subject to any appropriate statutory limitation period.

 

    	 

    	 

    
 

4. Notices and Addresses.
All notices, offers, acceptance and any other acts under this Agreement (except payment) shall be in writing, and shall be sufficiently
given if delivered to the addressees in person, by FedEx or similar overnight next business day delivery, or by facsimile delivery
followed by overnight next day delivery, as follows:

 

	The Recipient:	_______________________
 _______________________
 _______________________
	 	 
	The Company:	
        Upstream Worldwide, Inc.

        413
        North Federal Highway

        Ft. Lauderdale, FL 33301

        Facsimile: (954) 915-1525

        Attention: Michael Brachfeld

	 	 
	with a copy to:	Michael D. Harris, Esq.
 Nason, Yeager, Gerson, White & Lioce P.A.
 1645 Palm Beach Lakes Blvd.
 Suite 1200
 West Palm Beach, FL  33401
 Facsimile:  (561) 686-5442

 

or to such other address as either of them,
by notice to the other may designate from time to time. The transmission confirmation receipt from the sender’s facsimile
machine shall be evidence of successful facsimile delivery. Time shall be counted to, or from, as the case may be, the delivery
in person or by mailing.

 

5. Counterparts. This
Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together
shall constitute one and the same instrument. The execution of this Agreement may be by actual or facsimile signature.

 

6. Attorney’s Fees.
In the event that there is any controversy or claim arising out of or relating to this Agreement, or to the interpretation, breach
or enforcement thereof, and any action or proceeding is commenced to enforce the provisions of this Agreement, the prevailing party
shall be entitled to reasonable attorney’s fee, costs and expenses.

 

7. Severability.
If any term or condition of this Agreement shall be invalid or unenforceable to any extent or in any application, then the
remainder of this Agreement, and such term or condition except to such extent or in such application, shall not be affected
hereby and each and every term and condition of this Agreement shall be valid and enforced to the fullest extent and in the
broadest application permitted by law.

 

8. Entire
Agreement. This Agreement represents the entire agreement and understanding between the parties and supersedes all prior
negotiations, understandings, representations (if any), and agreements made by and between the parties. Each party
specifically acknowledges, represents and warrants that they have not been induced to sign this Agreement

 

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9. Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without regard
to principles of conflicts of laws.

 

10. Headings.
The headings in this Agreement are for the purpose of convenience only and are not intended to define or limit the construction
of the provisions hereof.

 

11. Tax
Obligations. The Recipient agrees to pay to the Company all federal, state and local taxes of any kind required by law to
be withheld and remitted by the Company on behalf of the Recipient with respect to the Restricted Stock (the “Tax
Obligations”). If the Recipient does not make full payment to the Company to timely satisfy the Tax Obligations, the
Company shall have the right to withhold from any payment of any kind otherwise due to the Recipient from the Company any
amounts necessary to satisfy the Tax Obligations.

 

 

 

[Signature Page To
Follow]

 

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IN WITNESS WHEREOF,
the undersigned have caused this Agreement to be duly executed and delivered as of the date aforesaid.

 

 

	WITNESSES:	 	UPSTREAM WORLDWIDE, INC.
	 	 	 
	 	 	 
	 	 	By: 	 
	 	 	 	Michael Brachfeld, Chief Financial Officer
	 	 	 	 
	 	 	 	 
	 	 	RECIPIENT
	 	 	 	 
	 	 	 	 
	 	 	 

 

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Schedule I

 

Recipients

Michael Brauser

Sergio Zyman

 

    	5Exhibit 10.9

 

NON-QUALIFIED STOCK OPTION AGREEMENT

NON-PLAN

 

THIS STOCK OPTION AGREEMENT
(the “Agreement”) entered into as of July 10, 2012 (the “Grant Date”), between Upstream Worldwide, Inc.
(the “Company”) and [See Schedule I] (the “Optionee”), outside of the Company's 2008 Equity Incentive
Plan.

 

WHEREAS, pursuant to
the authority of the Board of Directors (the “Board”), the Company has granted the Optionee the right to purchase common
stock of the Company pursuant to stock options.

 

NOW THEREFORE, in consideration
of the mutual covenants and promises hereafter set forth and for other good and valuable consideration, receipt of which is acknowledged,
the parties hereto agree as follows:

 

1. Grant of Non-Qualified Stock
Options. On the Grant Date, the Company irrevocably granted to the Optionee not in lieu of salary or other compensation for
services, the right and option to purchase all or any part of 200,000 shares of authorized but unissued or treasury common stock
of the Company (the “Options”) on the terms and conditions herein set forth. This Agreement replaces any stock option
agreement previously provided to the Optionee, if any, with respect to these Options.

 

2. Price. The exercise price
of the Options is $0.20 per share.

 

3. Vesting - When
Exercisable.

 

(a) The Options shall vest on July
10, 2013, subject to the Optionee’s continued service as a director on the vesting date. Notwithstanding any other provision
in this Agreement, the Options shall vest immediately on the occurrence of a Change of Control as defined below. Additionally,
all Options shall vest immediately on the date the Company publicly announces, by press release, by disclosure in a filing with
the Securities and Exchange Commission or otherwise (the “Public Announcement”), its intention to sell substantially
all of the Company’s assets or to enter into a merger or consolidation as described in clauses (ii) and (iii) under the definition
of Change of Control below. If the Optionee exercises the Options within 10 calendar days from the date of the Public Announcement,
the Optionee shall be deemed a record holder of the shares underlying the Options as of the record date of the Change of Control.
Change of Control means (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange
Act of 1934 (the “Exchange Act”)) becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange
Act), directly or indirectly, of securities of the Company representing 50% or more of the total voting power represented by the
Company’s then outstanding voting securities; (ii)  the consummation of the sale or disposition by the Company of all
or substantially all of the Company’s assets in a transaction which requires shareholder approval under applicable state
law; or (iii) the consummation of a merger or consolidation of the Company with any other corporation, other than a merger
or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to
represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent)
at least 50% of the total voting power represented by the voting securities of the Company or such surviving entity or its parent
outstanding immediately after such merger or consolidation.

 

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(b) Subject to Sections 3(c) and
4 of this Agreement, vested Options may be exercised prior to 6:00 p.m. New York time for five years from the Grant Date (the “Expiration
Date”).

 

(c) However, notwithstanding any
other provision of this Agreement at the discretion of the Board, all Options whether vested or unvested shall be immediately forfeited
in the event that the Optionee:

 

(1) Purchases or sells securities
of the Company without written authorization in accordance with the Company’s inside information guidelines then in effect;

 

(2) Breaches any duty of
confidentiality including that required by the Company’s inside information guidelines then in effect;

 

(3)
Competes with the Company; or

 

(4) Recruits Company personnel after
ceasing to be a director.

 

4. Termination of
Relationship.

 

(a) If for any reason, except death
or disability as provided below, the Optionee ceases to be a director of the Company, all rights granted hereunder shall terminate
effective one year from that date.

 

(b) If the Optionee ceases to be
a director of the Company as a result of his death, the Optionee’s estate or any Transferee, as defined herein, shall have
the right within one year from the date of the Optionee’s death to exercise the Optionee’s the Options subject to Section
3(c). For the purpose of this Agreement, “Transferee” shall mean a person to whom such shares are transferred by will
or by the laws of descent and distribution.

 

(c) If the Optionee ceases to be
a director of the Company as a result of being disabled within the meaning of Section 22(e)(3) of the Internal Revenue Code of
1986, all rights granted hereunder shall terminate effective one year from that date.

 

(d) Notwithstanding anything
contained in this Section 4, the Options may not be exercised after the Expiration Date.

 

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5. Profits on the Sale of Certain
Shares; Redemption. If any of the events specified in Section 3(c) of this Agreement occur within one year from the last date
the Optionee is a director of the Company (the “Termination Date”), all profits earned from the sale of the
Company’s securities, including the sale of shares of common stock underlying the Options, during the two-year period
commencing one year prior to the Termination Date shall be forfeited and forthwith paid by the Optionee to the Company.
Further, in such event, the Company may at its option redeem shares of common stock acquired upon exercise of the Options by
payment of the exercise price to the Optionee. The Company’s rights under this Section 5 do not lapse one year from the
Termination Date but are a contract right subject to any appropriate statutory limitation period.

 

6. Method of Exercise. The
Options shall be exercisable by a written notice which shall:

 

(a) state the election
to exercise the Options, the number of shares to be exercised, the person in whose name the stock certificate or certificates for
such shares of common stock is to be registered, address and social security number of such person (or if more than one, the names,
addresses and social security numbers of such persons);

 

(b) if applicable,
contain such representations and agreements as to the holder’s investment intent with respect to such shares of common stock
as set forth in Section 11 hereof;

 

(c) be signed by
the person or persons entitled to exercise the Options and, if the Options are being exercised by any person or persons other than
the Optionee, be accompanied by proof, satisfactory to counsel for the Company, of the right of such person or persons to exercise
the Options;

 

(d) be accompanied
by full payment of the exercise price in United States dollars in cash or by check.

 

(e) be accompanied
by payment of any amount that the Company, in its sole discretion, deems necessary to comply with any federal, state or local withholding
requirements for income and employment tax purposes. If the Optionee fails to make such payment in a timely manner, the Company
may: (i) decline to permit exercise of the Options or (ii) withhold and set-off against compensation and any other amounts payable
to the Optionee the amount of such required payment. Such withholding may be in the shares underlying the Options at the sole discretion
of the Company.

 

The certificate or
certificates for shares of common stock as to which the Options shall be exercised shall be registered in the name of the person
or persons exercising the Options.

 

7. Sale of Shares Acquired Upon
Exercise of Options. If the Optionee is an officer (as defined by Section 16(b) of the Exchange Act (“Section 16(b)”))
or a director of the Company, any shares of the Company’s common stock acquired pursuant to Options cannot be sold by the
Optionee until at least six months elapse from the Grant Date except in case of death or disability or if the grant was exempt
from the short-swing profit provisions of Section 16(b).

 

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8. Adjustments. Upon the
occurrence of any of the following events, the Optionee’s rights with respect to the Options shall be adjusted as hereinafter
provided unless otherwise specifically provided in a written agreement between the Optionee and the Company relating to the Options:

 

(a) If the shares of common stock
shall be subdivided or combined into a greater or smaller number of shares or if the Company shall issue any shares of its common
stock as a stock dividend on its outstanding common stock, the number of shares of common stock deliverable upon the exercise of
Options shall be appropriately increased or decreased proportionately, and appropriate adjustments shall be made in the exercise
price per share to reflect such subdivision, combination or stock dividend.

 

(b) If the Company is to be
consolidated with or acquired by another entity, the board of directors of any entity assuming the obligations of the Company
hereunder (the “Successor Board”) shall either (i) make appropriate provision for the continuation of the Options
by substituting on an equitable basis for the shares underlying the Options the consideration payable with respect to the
outstanding shares of common stock in connection with the acquisition or consolidation; or (ii) terminate all the Options in
exchange for a cash payment equal to the excess of the fair market value of the shares subject to the Options over the
exercise price thereof.

 

(c) In the event of a
recapitalization or a reorganization of the Company (other than a transaction described in Section 8(b) above) pursuant to
which securities of the Company or of another corporation are issued with respect to the outstanding shares of common stock,
the Optionee upon exercising the Options shall be entitled to receive for the purchase price paid upon such exercise, the
securities the Optionee would have received if the Optionee had exercised the Options prior to such recapitalization or
reorganization.

 

(d) Except as expressly provided
herein, no issuance by the Company of shares of common stock of any class or securities convertible or exercisable into shares
of common stock of any class shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price
of shares subject to the Options. No adjustments shall be made for dividends or other distributions paid in cash or in property
other than securities of the Company.

 

(e) With respect to shares issued
in accordance with this Section 8, no fractional shares shall be issued and the Optionee shall receive from the Company cash in
lieu of such fractional shares.

 

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(f) The Board or the Successor Board
shall determine the specific adjustments to be made under this Section 8, and its determination shall be conclusive. If the Optionee
receives securities or cash in connection with a corporate transaction described in Section 8(a), (b) or (c) above as a result
of holding the Options, such securities or cash shall be subject to all of the conditions and restrictions applicable to the Options
stock with respect to which such securities or cash were issued, unless otherwise determined by the Board or the Successor Board.

 

9. Necessity to Become Holder
of Record. Neither the Optionee, the Optionee’s estate, nor any Transferee shall have any rights as a shareholder with
respect to any of the shares underlying the Options until such person shall have become the holder of record of such shares. No
cash dividends or cash distributions, ordinary or extraordinary, shall be provided to the holder if the record date is prior to
the date on which such person became the holder of record thereof.

 

10. Reservation of Right to
Terminate Relationship. Nothing contained in this Agreement shall restrict the right of the Company to terminate the relationship
of the Optionee at any time, with or without cause. The termination of the relationship of the Optionee by the Company, regardless
of the reason therefor, shall have the results provided for in Sections 3 and 4 of this Agreement.

 

11. Conditions to Exercise of
Options. In order to enable the Company to comply with the Securities Act of 1933 (the “Securities Act”) and relevant
state law, the Company may require the Optionee, the Optionee’s estate, or any Transferee as a condition of the exercising
of the Options, to give written assurance satisfactory to the Company that the shares underlying the Options are being acquired
for such persons own account, for investment only, with no view to the distribution of same, and that any subsequent resale of
any such shares either shall be made pursuant to a registration statement under the Securities Act and applicable state law which
has become effective and is current with regard to the shares being sold, or shall be pursuant to an exemption from registration
under the Securities Act and applicable state law.

 

The Options are subject
to the requirement that, if at any time the Board shall determine, in its discretion, that the listing, registration, or qualification
of the shares of common stock underlying the Options upon any securities exchange or under any state or federal law, or the consent
or approval of any governmental regulatory body, is necessary as a condition of, or in connection with the issue or purchase of
the shares underlying the Options, the Options may not be exercised in whole or in part unless such listing, registration, qualification,
consent or approval shall have been effected.

 

12. Transfer. No transfer
of the Options by the Optionee by will or by the laws of descent and distribution shall be effective to bind the Company unless
the Company shall have been furnished with written notice thereof and a copy of the letters testamentary or such other evidence
as the Board may deem necessary to establish the authority of the estate and the acceptance by the Transferee or Transferees of
the terms and conditions of the Options.

 

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13. Duties of the Company.
The Company will at all times during the term of the Options:

 

(a) Reserve and keep
available for issue such number of shares of its authorized and unissued common stock as will be sufficient to satisfy the requirements
of this Agreement;

 

(b) Pay all original
issue taxes with respect to the issuance of shares pursuant hereto and all other fees and expenses necessarily incurred by the
Company in connection therewith;

 

(c) Use its best
efforts to comply with all laws and regulations which, in the opinion of counsel for the Company, shall be applicable thereto.

 

14.  Severability. In the
event any parts of this Agreement are found to be void, the remaining provisions of this Agreement shall nevertheless be binding
with the same effect as though the void parts were deleted.

 

15. Arbitration. Any
controversy, dispute or claim arising out of or relating to this Agreement, or its interpretation, application,
implementation, breach or enforcement which the parties are unable to resolve by mutual agreement, shall be settled by
submission by either party of the controversy, claim or dispute to binding arbitration in Broward County, Florida (unless the
parties agree in writing to a different location), before a single arbitrator in accordance with the rules of the American
Arbitration Association then in effect. The decision and award made by the arbitrator shall be final, binding and conclusive
on all parties hereto for all purposes, and judgment may be entered thereon in any court having jurisdiction thereof.

 

16. Benefit. This Agreement
shall be binding upon and inure to the benefit of the parties hereto and their legal representatives, successors and assigns.

 

17. Notices and Addresses.
All notices, offers, acceptance and any other acts under this Agreement (except payment) shall be in writing, and shall be sufficiently
given if delivered to the addressees in person, by FedEx or similar receipted delivery, or by facsimile delivery as follows:

 

	The Optionee:	_______________________
 _______________________
 _______________________
	 	 
	The Company:	
        Upstream Worldwide, Inc.

        413 N. Federal Highway
Ft. Lauderdale, FL 33301

Attention: Chief Financial Officer

        Facsimile: (954) 915-1525

        

	 	 
	with a copy to:	Michael D. Harris, Esq.
 Nason, Yeager, Gerson, White & Lioce
    P.A.
 1645 Palm Beach Lakes
Boulevard, Suite 1200
 West Palm Beach, Florida  33401
 Facsimile:  (561) 686-5442

 

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or to such other address as either
of them, by notice to the other may designate from time to time. The transmission confirmation receipt from the sender’s
facsimile machine shall be evidence of successful facsimile delivery. Time shall be counted to, or from, as the case may be, the
delivery in person or by mailing.

 

18. Attorney’s Fees.
In the event that there is any controversy or claim arising out of or relating to this Agreement, or to the interpretation, breach
or enforcement thereof, and any action or proceeding is commenced to enforce the provisions of this Agreement, the prevailing party
shall be entitled to reasonable attorneys’ fees, costs and expenses (including such fees and costs on appeal).

 

19. Governing Law. This
Agreement and any dispute, disagreement, or issue of construction or interpretation arising hereunder whether relating to its
execution, its validity, the obligations provided herein or performance shall be governed or interpreted according to the
laws of the State of Delaware without regard to choice of law considerations.

 

20. Oral Evidence. This
Agreement constitutes the entire Agreement between the parties and supersedes all prior oral and written agreements between
the parties hereto with respect to the subject matter hereof. Neither this Agreement nor any provision hereof may be changed,
waived, discharged or terminated orally, except by a statement in writing signed by the party or parties against which
enforcement or the change, waiver discharge or termination is sought.

 

21. Counterparts. This
Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together
shall constitute one and the same instrument. The execution of this Agreement may be by actual or facsimile signature.

 

22. Section or Paragraph
Headings. Section headings herein have been inserted for reference only and shall not be deemed to limit or otherwise
affect, in any matter, or be deemed to interpret in whole or in part any of the terms or provisions of this Agreement.

 

23. Stop-Transfer
Orders.

 

(a) The Optionee agrees that, in
order to ensure compliance with the restrictions set forth in this Agreement, the Company may issue appropriate “stop transfer”
instructions to its duly authorized transfer agent, if any, and that, if the Company transfers its own securities, it may make
appropriate notations to the same effect in its own records.

 

(b) The Company shall not be
required (i) to transfer on its books any shares of the Company’s common stock that have been sold or otherwise
transferred in violation of this Agreement or (ii) to treat the owner of such shares of common stock or to accord the right
to vote or pay dividends to any purchaser or other Transferee to whom such shares of common stock shall have been so
transferred.

 

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IN WITNESS WHEREOF
the parties hereto have set their hand and seals the day and year first above written.

 

 

	WITNESSES:	 	UPSTREAM WORLDWIDE, INC.
	 	 	 
	 	 	 
	 	 	By: 	 
	 	 	 	Michael Brachfeld

Chief Financial Officer
	 	 	 	 
	 	 	 	 
	 	 	OPTIONEE:
	 	 	 	 
	 	 	 	 
	 	 	 

 

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Schedule I

 

Optionees

 

Nik Raman

Douglas Feirstein

Daniel Brauser

Grant Fitzwilliam

Scott Frohman

 

    	9

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