Document:

Document

September 14, 2019

Mike Christenson

Dear Mike:

We are very pleased to offer you a position with New Relic, Inc. ("Company") on the following terms.  Please let us know if you have any questions at all about this offer. When ready to execute, please sign in the places indicated. This offer is contingent on successful completion of your references, a credit check, and a criminal background check. 

        1. Position.  Your employment shall be with Company in the position of President and Chief Operating Officer reporting to Lew Cirne. You shall devote your full time, ability, attention, energy and skills solely and exclusively to performing all duties as assigned and delegated to you by Company.

        2. Start Date.  If you accept this offer, your employment with Company shall begin on October 1, 2019, or other such date as is mutually agreed.  

        3. Compensation.  In consideration for your services to Company, you will receive compensation of $16,666.67 twice a month (equivalent to an annual salary of $400,000), subject to applicable state and federal withholdings and deductions. In addition, you will be eligible for an annual performance bonus, paid quarterly and targeted at 100% of your annual base salary per year, based on individual, group and/or corporate goals to be determined during the first month of your employment. The Board of Directors will determine, in its sole discretion, whether and to what extent any applicable objectives are met, and you must be employed on the last day of any given quarter in order to earn a bonus for that quarter.  Your position is classified as exempt from overtime and your salary compensates you for all hours of work.

        4. Additional Benefits. 

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a.Equity.  In connection with your commencement of employment, we will recommend that the Company’s Board of Directors (or its delegate) grant you equity awards with a value of $10,000,000 pursuant to the terms of the Company’s 2014 Equity Incentive Plan. If approved, 50% of this value will be awarded in the form of Restricted Stock Units (“RSUs”), with the remaining value awarded in the form of Stock Options to purchase shares of our common stock.  The number of RSUs will be determined using the average closing price of the Company’s common stock as quoted on the New York Stock Exchange (the “NYSE”) for the 30-day calendar period immediately preceding the grant date.  The exercise price of your Stock Options will be the closing price of the Company’s common stock on the date of grant, with the number of shares of stock subject to your Stock Options determined based on the dollar amount divided by the average closing price of the Company’s common stock as quoted on the NYSE for the 30-day calendar period immediately preceding the grant date divided by the value obtained using the assumptions used by the Company in its financial statements.  

Your awards will vest, subject to your continued employment with the Company through each vesting date, as follows: 

•For RSUs, 25% of the units will vest on the first anniversary of the RSU Vesting Commencement Date, with 1/16th of the units vesting quarterly thereafter.  Your RSU Vesting Commencement Date will be the first February 15, May 15, August 15 or November 15 on or after the date your RSUs are approved for grant. 

•For your Stock Options, 25% of the shares subject to the Stock Options will vest on the first anniversary of your employment commencement date, with 1/48th of the total number of shares vesting monthly thereafter.
Schwab will notify you via email when your awards have been posted to your account. Once received, please be sure to follow the link and instructions included therein so you can read and accept your grant agreements in the Schwab system.

In addition, you will be eligible for a compensation review at the same time as other senior executives at New Relic, beginning with the cycle entering fiscal 2021. As part of this process, you will be eligible for annual equity awards consistent with the normal grant process for other senior executives, with a target equity award opportunity of not less than $3,500,000 for your first eligible compensation review cycle after your commencement of employment, subject to the approval of the Company’s Board of Directors or an authorized committee thereof. Such awards shall be in a similar manner and type to the awards granted to peer senior executives at such time.

b.Severance.  You will be eligible for severance benefits under the terms of the attached Change in Control and Severance Agreement as a “Tier 2” participant, which you should sign and return with this Agreement.

c.Insurance.  The Company’s benefits package includes health, dental, vision and life insurance.  Additional details of insurance benefits shall be provided separately. Your insurance benefits start on the first day of employment.

d.401(k) Plan.  You will be eligible to participate in the Company sponsored 401(k) investment plan immediately upon starting employment.

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e.Holidays and Time Off. Company paid holidays are:  New Year’s Day, Martin Luther King Jr. Day, Presidents’ Day, Memorial Day, 4th of July, Labor Day, Thanksgiving, the Friday after Thanksgiving, and Christmas Day, plus two (2) annual floating holidays determined by Company.  You will be eligible for Flex Time Off, which means that you will not accrue paid time off.  Instead, you may take a reasonable amount of time off with pay, as permitted by your duties and responsibilities, and as approved in advance by your manager.

f.Business Expenses.  You shall be entitled to reimbursement by Company for such customary, ordinary and necessary business expenses as are incurred by you in the performance of your duties and consistent with the policies of the Company.

        5. Proprietary Information and Inventions.  The Company conditions this offer upon you signing and returning with this letter the Proprietary Information and Inventions Agreement attached as Exhibit A.

        6. At-Will Employment.  Your employment with Company will be at-will.  This means that either you or Company may terminate the employment relationship at any time, without advance notice, and for any reason or for no reason at all.  Also, Company retains its discretion to make all other decisions concerning your employment (e.g. demotions, transfers, job responsibilities, compensation or any other managerial decisions) with or without good cause.  This "at-will" employment relationship can only be modified in writing by the CEO of Company.  This paragraph 6 contains the entire agreement between you and Company regarding the right and ability of either you or Company to terminate your employment with Company. 

7. Representation and Warranty.   You represent and warrant to us that the performance of your duties for the Company will not violate any agreement with or trade secrets of any other person or entity and that your duties for the Company, unless we are notified in writing in advance, will not be limited or restricted by any other agreements or understandings between you and other persons or companies.  You specifically agree to ensure that you do not use or infringe on the confidentiality or intellectual property rights of any previous employer.  You agree to indemnify the Company against a breach of the representations and warranties in paragraph 7.

8.  Post-Offer Conditions.  In accordance with law, the Company conditions this offer upon your providing appropriate documentation within three (3) business days of your hire date demonstrating that you have authorization to work in the United States.  If you have questions about this requirement, which applies to U.S. citizens and non-U.S. citizens alike, you may contact the People Operations Department.  

Also, as stated above, the Company conditions this offer upon acceptable reference checks, a credit check, and successfully passing a criminal background check.  

9.   Arbitration.  The Company conditions this offer upon you signing and returning with this letter the enclosed Arbitration Agreement.  

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This offer, once accepted, constitutes the complete and exclusive agreement between you and Company with respect to the subject matter hereof and supersedes and replaces any and all prior agreements or representations relating to such subject. 

In order to accept this offer, you must sign this letter and the other documents enclosed for your signature. This offer, if not accepted, will expire on September 16, 2019.

By so signing, you acknowledge that you have received no inducements or representations other than those set forth in this letter that caused you to accept this offer of employment.

We look forward to your favorable reply, and to a productive and enjoyable working relationship.

Very truly yours,

/s/ Mark Sachleben

Mark Sachleben
CFO
			
	

Offer Accepted:

			
	/s/ Mike Christenson

Mike Christenson

			
	September 15, 2019

Date

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EXHIBIT A – New Relic, Inc.
EMPLOYEE PROPRIETARY INFORMATION
AND INVENTIONS AGREEMENT
In consideration of my employment or continued employment with New Relic, Inc. (“Company”), and the compensation now and hereafter paid to me, I hereby agree as follows:

									
	1.Nondisclosure
1.1Recognition of Company’s Rights; Nondisclosure.  I agree that at all times in perpetuity, both during my employment and thereafter, I will hold in strictest confidence and will not disclose, use, copy, summarize, remove from the premises of the Company, lecture upon or publish any of the Company’s Proprietary Information (defined below), except (a) as required in connection with my work for the Company, and (b) after termination of my employment, only if an officer of the Company expressly authorizes such in writing.  I agree to take all reasonable measures to protect the Proprietary Information of the Company from falling into the public domain or the possession of persons other than those persons authorized to have any such Proprietary Information.  I will obtain Company’s written approval before publishing or submitting for publication any material (written, verbal, or otherwise) that relates to my work at Company and/or incorporates any Proprietary Information.  I hereby assign to the Company any rights I may have or acquire in such Proprietary Information and recognize that all Proprietary Information shall be the sole property of the Company and its assigns.
1.2Proprietary Information.  The term “Proprietary Information” shall mean any and all confidential and/or proprietary knowledge, data or information of the Company.  By way of illustration but not limitation, “Proprietary Information” includes (a) trade secrets, inventions, mask works, ideas, processes, formulas, source and object codes, data, programs, other works of authorship, know-how, improvements, discoveries, developments, designs and techniques (hereinafter collectively referred to as “Inventions”); and (b) information regarding plans for research, development, new products, marketing and selling, business plans, budgets and unpublished financial statements, licenses, prices and costs, suppliers and customers; and (c) lists of names or classes of customers or personnel.  Notwithstanding the foregoing, it is understood that, at all such times, I am free to use information which is generally known
		in the trade or industry, which is not gained as result of a breach of this Agreement, and my own skill, knowledge, know-how and experience to whatever extent and in whichever way I wish.   
1.3Third Party Information.  I understand, in addition, that the Company has received and in the future will receive from third parties confidential or proprietary information (“Third Party Information”) subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain limited purposes.  During the term of my employment and thereafter, I will hold Third Party Information in the strictest confidence and will not disclose to anyone (other than Company personnel who need to know such information in connection with their work for the Company) or use, except in connection with my work for the Company, Third Party Information unless expressly authorized by an officer of the Company in writing.
1.4    No Improper Use of Information of Prior Employers and Others.  During my employment with the Company I will not improperly use or disclose any confidential information or trade secrets, if any, of any former employer or any other person to whom I have an obligation of confidentiality, and I will not bring onto the premises of the Company any unpublished documents or any property belonging to any former employer or any other person to whom I have an obligation of confidentiality unless consented to in writing by that former employer or person.  I will use in the performance of my duties only information which is generally known and used by persons with training and experience comparable to my own, which is common knowledge in the industry or otherwise legally in the public domain, or which is otherwise provided or developed by the Company.
2.           Assignment of Inventions.
2.1   Proprietary Rights.  The term “Proprietary Rights” shall mean all trade secret,

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	patent, copyright, mask work and other intellectual property rights throughout the world. 
             2.2           Prior Inventions.  Inventions, if any, patented or unpatented, which I made prior to the commencement of my employment with the Company are excluded from the scope of this Agreement.  To preclude any possible uncertainty, I have set forth on Exhibit C (Previous Inventions) attached hereto a complete list of all Inventions that I have, alone or jointly with others, conceived, developed or reduced to practice or caused to be conceived, developed or reduced to practice prior to the commencement of my employment with the Company, that I consider to be my property or the property of third parties and that I wish to have excluded from the scope of this Agreement (collectively referred to as “Prior Inventions”).  If disclosure of any such Prior Invention would cause me to violate any prior confidentiality agreement, I understand that I am not to list such Prior Inventions in Exhibit C but am only to disclose a cursory name for each such invention, a listing of the party(ies) to whom it belongs and the fact that full disclosure as to such inventions has not been made for that reason. A space is provided on Exhibit C for such purpose.  If no such disclosure is attached, I represent that there are no Prior Inventions.  If, in the course of my employment with the Company, I incorporate a Prior Invention into a Company product, process or machine, the Company is hereby granted and shall have a nonexclusive, royalty-free, irrevocable, perpetual, worldwide license (with rights to sublicense through multiple tiers of sublicensees) to make, have made, modify, use and sell such Prior Invention.  Notwithstanding the foregoing, I agree that I will not incorporate, or permit to be incorporated, Prior Inventions in any Company Inventions without the Company’s prior written consent.
               2.3         Assignment of Inventions.  Subject to Sections 2.4, and 2.6, I hereby assign and agree to assign in the future (when any such Inventions or Proprietary Rights are first reduced to practice or first fixed in a tangible medium, as applicable) to the Company all my right, title and interest in and to any and all Inventions (and all Proprietary Rights with respect thereto) whether or not patentable or registrable under copyright or similar statutes, made or conceived or reduced to practice or learned by me, either alone or jointly with others, during the period of my employment with the Company.  Inventions assigned to the Company, or to a third party as directed by the Company pursuant to this Section 2, are hereinafter referred to as “Company Inventions.” 
		2.4    Nonassignable Inventions.  This Agreement does not apply to an Invention which qualifies fully as a nonassignable Invention under Section 2870 of the California Labor Code (hereinafter “Section 2870”).  I have reviewed the notification on Exhibit B (Limited Exclusion Notification) and agree that my signature acknowledges receipt of the notification.
2.5    Obligation to Keep Company Informed.  During the period of my employment and for six (6) months thereafter, I will promptly disclose to the Company fully and in writing all Inventions authored, conceived or reduced to practice by me, either alone or jointly with others.  In addition, I will promptly disclose to the Company all patent applications filed by me or on my behalf within a year after the end of my employment.  At the time of each such disclosure, I will advise the Company in writing of any Inventions that I believe fully qualify for protection under Section 2870; and I will at that time provide to the Company in writing all evidence necessary to substantiate that belief.  The Company will keep in confidence and will not use for any purpose or disclose to third parties without my consent any confidential information disclosed in writing to the Company pursuant to this Agreement relating to Inventions that qualify fully for protection under the provisions of Section 2870.  I will preserve the confidentiality of any Invention that does not fully qualify for protection under Section 2870.
2.6         Government or Third Party.  I also agree to assign all my right, title and interest in and to any particular Company Invention to a third party, including without limitation the United States, as directed by the Company.
2.7         Works for Hire.  I acknowledge that all original works of authorship which are made by me (solely or jointly with others) within the scope of my employment and which are protectable by copyright are “works made for hire,” pursuant to United States Copyright Act (17 U.S.C., Section 101).
2.8        Enforcement of Proprietary Rights.  I will assist the Company in every proper way to obtain, and from time to time enforce, United States and foreign Proprietary Rights relating to Company Inventions in any and all countries.  To that end I will execute, verify and deliver such documents and perform such other acts (including appearances as a witness) as the Company may reasonably request for use in applying for, obtaining, perfecting, evidencing, sustaining and enforcing such Proprietary Rights and the assignment thereof.  In addition, I will execute,

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	verify and deliver assignments of such Proprietary Rights to the Company or its designee.  My obligation to assist the Company with respect to Proprietary Rights relating to such Company Inventions in any and all countries shall continue beyond the termination of my employment, but the Company shall compensate me at a reasonable rate after my termination for the time actually spent by me at the Company’s request on such assistance.
In the event the Company is unable for any reason, after reasonable effort, to secure my signature on any document needed in connection with the actions specified in the preceding paragraph, I hereby irrevocably designate and appoint the Company and its duly authorized officers and agents as my agent and attorney in fact, which appointment is coupled with an interest, to act for and in my behalf to execute, verify and file any such documents and to do all other lawfully permitted acts to further the purposes of the preceding paragraph with the same legal force and effect as if executed by me.  I hereby waive and quitclaim to the Company any and all claims, of any nature whatsoever, which I now or may hereafter have for infringement of any Proprietary Rights assigned hereunder to the Company.
3.        Records.  I agree to keep and maintain adequate and current records (in the form of notes, sketches, drawings and in any other form that may be required by the Company) of all Proprietary Information developed by me and all Inventions made by me during the period of my employment at the Company, which records shall be available to and remain the sole property of the Company at all times.
4.        Non-Competition & Non-Solicitation.  I agree that during the period of my employment with the Company I will not, without the Company’s written consent, engage in any employment or business activity which is competitive with, or would otherwise conflict with, my employment with the Company.  I agree further that for the period of my employment with the Company and for one (l) year thereafter, I will not, either directly or through others, solicit or attempt to solicit any employee, independent contractor or consultant of the company to terminate his or her relationship with the Company in order to become an employee, consultant or independent contractor to or for any other person or entity.  In addition, I agree that I will not at any time after my employment with the Company use Company trade secrets to either solicit business from, or enter into a business relationship or transaction with, any person or entity that has or has had a business relationship with the Company (including, but not limited to,
		customers) or disrupt, or attempt to disrupt, any relationship, contractual or otherwise, between Company and any such person or entity.
5.        No Conflicting Obligation.  I represent that my performance of all the terms of this Agreement and as an employee of the Company does not and will not breach any agreement to keep in confidence information acquired by me in confidence or in trust prior to my employment with the Company.  I have not entered into, and I agree I will not enter into, any agreement either written or oral in conflict herewith.
6.      Return of Company Documents.  When I leave the employ of the Company, I will deliver to the Company any and all drawings, notes, memoranda, specifications, devices, formulas, and documents, together with all copies thereof, and any other material containing or disclosing any Company Inventions, Third Party Information or Proprietary Information of the Company.  I further agree that any property situated on the Company’s premises and owned by the Company, including disks and other storage media, filing cabinets or other work areas, is subject to inspection by Company personnel at any time with or without notice.  Prior to leaving, I will cooperate with the Company in completing and signing the Company’s termination statement to confirm my understanding and compliance with my obligations under this agreement.
7.          Legal and Equitable Remedies.  Because my services are personal and unique and because I may have access to and become acquainted with the Proprietary Information of the Company, the Company shall have the right to enforce this Agreement and any of its provisions by injunction, specific performance or other equitable relief, without bond and without prejudice to any other rights and remedies that the Company may have for a breach of this Agreement.
8.      Notices.  Any notices required or permitted hereunder shall be given to the appropriate party at the address specified below or at such other address as the party shall specify in writing.  Such notice shall be deemed given upon personal delivery to the appropriate address or if sent by certified or registered mail, three (3) days after the date of mailing.
9.         Notification of New Employer.  In the event that I leave the employ of the Company, I hereby consent to the notification of my new employer of my rights and obligations under this Agreement.

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	10.         General Provisions.
10.1    Governing Law; Consent to Personal Jurisdiction.  This Agreement will be governed by and construed according to the laws of the State of California, as such laws are applied to agreements entered into and to be performed entirely within California between California residents.  I hereby expressly consent to the personal jurisdiction of the state and federal courts located in San Francisco County, California, for any lawsuit filed there against me by Company arising from or related to this Agreement.
10.2      Severability.  In case any one or more of the provisions contained in this Agreement shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect the other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein.  If moreover, any one or more of the provisions contained in this Agreement shall for any reason be held to be excessively broad as to duration, geographical scope, activity or subject, it shall be construed by limiting and reducing it, so as to be enforceable to the extent compatible with the applicable law as it shall then appear.
10.3      Successors and Assigns.  This Agreement will be binding upon my heirs, executors, administrators and other legal representatives and will be for the benefit of the Company, its successors, and its assigns.
10.4      Survival.  The provisions of this Agreement shall survive the termination of my employment and the assignment of this Agreement by the Company to any successor in interest or other assignee.
10.5    At-Will Employment.  I agree that my employment relationship with the Company is one of employment at will.  I agree and understand that nothing in this Agreement shall confer any right with respect to continuation of employment with the Company, nor shall it interfere in any way with my right or the Company’s right to terminate my employment at any time without advance notice, with or without cause.
10.6      Waiver.  No waiver by the Company of any breach of this Agreement shall be a waiver of any preceding or succeeding breach.  No waiver by the Company of any right under this
		Agreement shall be construed as a waiver of any other right.  The Company shall not be required to give notice to enforce strict adherence to all terms of this Agreement.
10.7        Advice of Counsel. I acknowledge that, in executing this Agreement, I have had the opportunity to seek the advice of independent legal counsel, and I have read and understood all of the terms and provisions of this Agreement.  This agreement shall not be construed against any party by reason of the drafting or preparation hereof.
10.8       Entire Agreement.  The obligations pursuant to Sections 1 and 2 of this Agreement shall apply to any time during which I was previously employed, or am in the future employed, by the Company if no other agreement governs nondisclosure and assignment of inventions during such period.  This Agreement is the final, complete and exclusive agreement of the parties with respect to the subject matter hereof and supersedes and merges all prior discussions between us.  No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, will be effective unless in writing and signed by the party to be charged.  Any subsequent change or changes in my duties, salary or compensation will not affect the validity or scope of this Agreement. 
        This Agreement shall be effective as of the first day of my employment with the Company, namely:  October 1, 2019.
        I have read this Agreement carefully and understand its terms.  I have completely filled out Exhibit B and C to this Agreement. 

			Dated:  September 15, 2019

			/s/ Mike Christenson
			Mike Christenson
			
			Accepted and Agreed To: New Relic, Inc.

			By: /s/ Mark Sachleben

			Title: CFO

			
			188 Spear Street, Suite 1200
			San Francisco, California 94105
			Dated:  September 15, 2019

			

        

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Exhibit B
LIMITED EXCLUSION NOTIFICATION
This is to notify you in accordance with Section 2872 of the California Labor Code that the foregoing Agreement between you and the Company does not require you to assign or offer to assign to the Company any invention that you developed entirely on your own time without using the Company’s equipment, supplies, facilities or trade secret information except for those inventions that either:
1.Relate at the time of conception or reduction to practice of the invention to the Company’s business, or actual or demonstrably anticipated research or development of the Company; or
2.Result from any work performed by you for the Company.
To the extent a provision in the foregoing Agreement purports to require you to assign an invention otherwise excluded from the preceding paragraph, the provision is against the public policy of this state and is unenforceable.
This limited exclusion does not apply to any patent or invention covered by a contract between the Company and the United States or any of its agencies requiring full title to such patent or invention to be in the United States.
I acknowledge receipt of a copy of this notification.
        By: /s/ Mike Christenson
               Mike Christenson
        Date: September 15, 2019

On Behalf of New Relic, Inc.: 
/s/ Mark Sachleben 

Mark Sachleben 
(Printed Name of Representative)

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Exhibit C

TO:  New Relic, Inc.
FROM:  Mike Christenson
SIGNED: /s/ Mike Christenson
DATE:  September 15, 2019
SUBJECT: Previous Inventions 

1. Except as listed in Section 2 below, the following is a complete list of all inventions or improvements relevant to the subject matter of my employment with New Relic, Inc. (the “Company”) that have been made or conceived or first reduced to practice by me alone or jointly with others prior to my engagement by the Company:

        X No inventions or improvements.
        ☐ See below:
        
         
☐ Additional sheets attached.
2. Due to a prior confidentiality agreement, I cannot complete the disclosure under Section 1 above with respect to inventions or improvements generally listed below, the proprietary rights and duty of confidentiality with respect to which I owe to the following party(ies):
        Invention or Improvement Party(ies)  Relationship
1. None
2. 
3. 
☐ Additional sheets attached.

Inventions Approved by: 
/s Mark Sachleben 
Mark Sachleben, CFO
(Printed Name of Representative)Exhibit 10.6

 

SUBSCRIPTION AGREEMENT

 

September 10, 2019

 

Mobiquity Technologies,

Inc. 35 Torrington Lane

Shoreham, NY 11786

 

Ladies and Gentlemen:

 

The
undersigned (the "Subscriber"), desires to purchase a Unit of Mobiquity Technologies, Inc., a New York corporation (the
"Company") set forth on the signature page at a purchase price of $2,300,000 per Unit. Each unit consists of a ten year
Senior Secured Convertible Note in the principal amount of $2,300,000 bearing interest at the rate of 15 percent per annum(the
"Notes"). The Notes shall be convertible into common stock at a conversion price of $.08 per share. For every two Common
Shares issued upon conversion, the Subscriber shall receive a Warrant to purchase one share of the Company's Common Stock at an
exercise price of $.12 per share through September 30, 2029 (the "Warrants"). All references to the term Securities,
shall refer to the Notes, Warrants and shares of Common Stock issuable upon conversion or exercise thereof, unless the context
indicates otherwise. Alexander Capital LP will receive a 10% cash commission. and cashless exercise warrant to purchase 10% of
the shares issuable upon conversion of the principal of the Notes, exercisable at $.12 per share through September 30, 2029.

 

This
Offering is solely to "Accredited Investors" as that term is defined under Rule 501 of Regulation D promulgated under
the Securities Act of 1933, as amended. Appended to this Subscription Agreement as Annex 1 is a form of Note and Annex 11 which
is a form of Warrant.

 

All
subscription funds will be held in a non-interest bearing escrow account under a separate escrow agreement between Alexander Capital
LP and Signature Bank (the "Escrow Agent").

 

The
Units totaling one or $2,300,000 (the "Maximum") will be offered through September 30, 2019 commencing on the date of
this Agreement (the "Initial Offering Period"), which period may be extended without further notice to prospective
investors by the Company, in its sole discretion, to a date not later than December 31, 2019 (the "Final Termination Date",
with this additional period, together with the Initial Offering Period, being referred to herein as the "Offering Period").
In the event that (i) subscriptions for the Offering are rejected in whole (at the sole discretion of the Company) or (ii) the
Offering is otherwise terminated by the Company, then the Escrow Agent will refund all subscription funds held in the Escrow Account
to the persons who submitted such funds, without interest, penalty or deduction. If a subscription is rejected in part (at the
sole discretion of the Company) and the Company accepts the portion not so rejected, the funds for the rejected portion of such
subscription will be returned without interest, penalty, expense or deduction.

 

1.          
Subscription. The Subscriber hereby subscribes for and agrees to purchase from the Company the number of Units set
forth on the Signature Page, subject to acceptance by the Company, in whole or in part, in its absolute discretion.

 

2.            
Purchase Procedure. The Subscriber acknowledges that, in order to subscribe for the Units, it must, and does hereby,
deliver to the Company an executed counterpart of the Signature Page attached to this Agreement and the Subscriber shall wire
funds to the Escrow Agent pursuant to the wire instructions set forth in Annex 111 to this Agreement:

 

3.            
Representations of Subscriber. By executing this Agreement, the Subscriber represents, warrants, acknowledges and
agrees as follows:

 

3.1          Such
Subscriber acknowledges that he has received, carefully read and understands in their entirety (i) this Agreement; (ii) the Company's
recent filings under the Securities Exchange Act of 1934 (the "Exchange Act"), including, without limitation, the Company's
Form 10-K for its fiscal year ended December 31, 2018, including, the Risk Factors set forth in Item 1A. Risk Factors,
and all subsequent filings made under the Exchange Act (iii) all information necessary to verify the accuracy and completeness
of the Company's representations, warranties and covenants made herein, inclusive of the information filed under the Exchange
Act; and (iv) written (or verbal) answers to all questions the Subscriber submitted to the Company regarding an investment in
the Company; and the Subscriber has relied on the information contained therein and has not been furnished with any other documents,
offering literature, memorandum or prospectus.

 

 

 

    	 	1	 

     

    

 

3.2          Such
Subscriber understands that (i) the Securities being purchased hereunder have not been registered under the Securities Act of
1933, as amended (the "Securities Act"), and any applicable state securities laws, or the laws of any foreign jurisdiction;
(ii) Subscriber cannot sell the Securities unless they are registered under the Securities Act and any applicable state securities
laws or unless exemptions from such registration requirements are available; (iii) a legend will be placed on any certificate
or certificates evidencing the Securities, stating that such Securities have not been registered under the Securities Act and
setting forth or referring to the restrictions on transferability and sales of the Securities; (iv) the Company will place stop
transfer instructions against the Securities and the certificates for the Securities to restrict the transfer thereof; and (v)
the Company has no obligations to register the Securities or assist the Subscriber in obtaining an exemption from the various
registration requirements except as set forth herein. Subscriber agrees not to resell the Securities without compliance with the
terms of this Agreement, the Securities Act and any applicable state or foreign securities laws.

 

3.3          Such
Subscriber (i) is acquiring the Securities solely for the Subscriber's own account for investment purposes only and not with a
view toward resale or distribution, either in whole or in part; (ii) has no contract, undertaking, agreement or other arrangement,
in existence or contemplated, to sell, pledge, assign or otherwise transfer the Securities to any other person; and (iii) agrees
not to sell or otherwise transfer the Subscriber's Securities unless and until they are subsequently registered under the Securities
Act and any applicable state securities laws or unless an exemption from any such registration is available.

 

3.4          Such
Subscriber understands that an investment in the Securities involves substantial  risks, and Subscriber recognizes and understands
the risks relating to the purchase of the Securities, including the fact that the Subscriber could lose the entire amount of the
Subscriber's investment in the Securities.

 

3.5        Such
Subscriber has substantial investment expertise in private placements, venture capital offerings and start-up businesses, is extremely
familiar with the Company's business as outlined in its Form 10-K for its fiscal year ended December 31, 2018 and all subsequent
filings under the Exchange Act, and is knowledgeable about the risks associated with the business in which the Company is engaged
and has such knowledge and experience in financial and business matters that the Subscriber is capable of evaluating the merits
and risks of an investment in the Company.

 

3.6          Subscriber
is an "accredited investor," as that term is defined in Rule 501(a) of Regulation D promulgated under the Securities
Act. If the Subscriber is a natural person, such Subscriber (i) is a citizen or resident of the country set forth as his permanent
address below, (ii) is at least 21 years of age, (iii) has adequate means of providing for his current needs and personal contingencies,
(iv) has no need for liquidity in his investment in the Shares, and (v) maintains his domicile (and is not a transient or temporary
resident) at the address shown below. Subscriber represents and warrants to the Company that he, she or it understands that an
accredited investor meets one of the following criteria:

 

a.             an
individual whose individual net worth, or joint net worth with that individual's spouse, exceeds $1,000,000 (excluding the value
of the Subscriber's principal residence);

 

b.             an
individual who had an individual income in excess of $200,000 in 2017 and 2018 or who had joint income with that individual's
spouse in excess of $300,000 in each of those years and who reasonably expects to have that income level in 2019;

 

c.             a
bank as defined in Section 3(a)(2) of the Securities Act, or a savings and loan association or other institution as defined in
section 3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary capacity; a broker or dealer registered
pursuant to Section 15 of the Securities Exchange Act of 1934; an insurance company as defined in Section 2(13) of the Securities
Act; an investment company registered under the Investment Company Act of 1940 (the "1940 Act") or a business development
company as defined in Section 2(a)(48) of the 1940 Act; a Small Business Investment Company licensed by the U.S. Small Business
Investment Act of 1958; or an employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act
of 1974 ("ERISA"), which is either a bank, savings and loan association, insurance company or registered investment
adviser, or if the employee benefit plan has total assets in excess of $5,000,000; or, if a self-directed plan, with investment
decisions made solely by persons that are accredited investors;

 

 

 

    	 	2	 

     

    

 

d.             a
private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940;

 

e.             an
organization described in Section 501(c)(3) of the Internal Revenue Code, a corporation, Massachusetts or similar business trust,
or partnership, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000;

 

f.             a
trust with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered, whose
purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) under the Securities Act;

 

g.             an
individual who is a director or executive officer of the Company or

 

h.            an
entity in which all of the equity owners are accredited investors.

 

3.7          Such
Subscriber's investment in the Company is reasonable in relation to his net worth and financial needs and he is able to bear the
economic risk of losing his entire investment in the Securities without substantially affecting his present manner or mode of
living.

 

3.8          Such
Subscriber understands that (i) the Offering contemplated hereby has not been reviewed by any federal, state or other governmental
body or agency; (ii) if required by the laws or regulations of said state(s) the Offering contemplated hereby will be submitted
to the appropriate authorities of such state(s) for registration or exemption therefrom; and (iii) documents used in connection
with this Offering have not been reviewed or approved by any regulatory agency or government department, nor has any such agency
or government department made any finding or determination as to the fairness of the Securities for investment.

 

3.9          Such
Subscriber is aware that the Securities have not been registered under the Securities Act and that except for a limited public
market in the Company's common shares, no established public market currently exists for any of the Company's securities and there
can be no assurance that an established market will develop therefor. The Subscriber has adequate means of providing for the Subscriber's
current needs and personal and family contingencies, has no need for liquidity in the investment contemplated hereby, and is able
to bear the risk of loss of his entire investment.

 

3.10          Such
Subscriber shall not sell, assign, encumber or transfer all or any part of the Securities being acquired unless the Company has
determined, upon the advice of counsel for the Company, that no applicable federal or state securities laws will be violated as
a result of such transfer.

 

3.11          Such
Subscriber represents that the Company has made available all information which Subscriber deemed material to making an informed
investment decision in connection with his purchase of Securities of the Company; that the Subscriber is in a position regarding
the Company, which, based upon employment, family or friendship relationship or economic bargaining power, enabled and enables
Subscriber to obtain information from the Company in order to evaluate the merits and risks of this investment; and that Subscriber
has been advised concerning the risks and merits of this investment. Further, Subscriber acknowledges that the Company has made
available to Subscriber the opportunity to ask questions of, and receive answers from the Company, its officers, directors and
other persons acting on its behalf, including Dean L. Julia, Chief Executive Officer and Sean McDonnell, Chief Financial Officer
of the Company, concerning the terms and conditions of his purchase and to obtain any additional information Subscriber, to the
extent the Company possesses such information or can acquire it without unreasonable effort or expense, necessary to verify the
accuracy of the information disclosed to Subscriber. Further, Subscriber represents that no statement, printed material or inducement
was given or made by the Company or anyone on its behalf which is contrary to the information disclosed to Subscriber. Such Subscriber
is familiar with the nature and extent of the risks inherent in investments in unregistered securities and in the business in
which the Company is engaged.

 

3.12        
The certificates evidencing the shares of Common Stock issuable upon exercise of the Warrants or conversion of the Notes will
contain a legend substantially as follows:

 

THE SECURITIES WHICH
ARE REPRESENTED HEREBY HAVE NOT BEEN THE SUBJECT OF REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED AND MAY NOT BE SOLD,
TRANSFERRED, ASSIGNED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF UNTIL A REGISTRATION STATEMENT WITH RESPECT THERETO IS DECLARED
AND REMAINS EFFECTIVE UNDER SUCH ACT, OR THE COMPANY RECEIVES AN OPINION OF COUNSEL FOR THE COMPANY THAT AN EXEMPTION FROM REGISTRATION
REQUIREMENTS OF SUCH ACT IS AVAILABLE.

 

 

 

    	 	3	 

     

    

 

3.13         The
Company has not paid any dividends on its Common Stock since its inception and, by reason of its present financial status and
its contemplated financial requirements, does not contemplate or anticipate paying any dividends upon its Common Stock in the
foreseeable future.

 

3.14         The
Subscriber expressly acknowledges and understands that, in connection with the offer and sale of the Securities described herein
to the Subscriber, the Company is relying upon the Subscriber's representations and warranties as contained in this Agreement.

 

4.             Representations
of Company. Upon the Company's receipt and acceptance of payment by the Subscriber hereunder and issuance of the Common Shares
upon conversion of the Notes or exercise of the Warrants hereby, such securities will be duly authorized, fully paid and non-assessable.

 

5.             Indemnification.
Subscriber hereby agrees to indemnify and hold harmless the Company and the Company's officers, directors, employees, agents,
counsel and affiliates from and against any and all damages, losses, costs, liabilities and expenses (including, without limitation,
reasonable attorneys' fees) which they, or any of them, may incur by reason of the Subscriber's failure to fulfill any of the
terms and conditions of this Agreement or by reason of the Subscriber's breach of any of his representations and warranties contained
herein. This Agreement and the representations and warranties contained herein shall be binding upon the Subscriber's heirs, executors,
administrators, representatives, successors and assigns. THE COMPANY HAS BEEN ADVISED THAT THE INDEMNIFICATION OF THE COMPANY,
ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, COUNSEL AND AFFILIATES IS DEEMED TO BE VOID AS AGAINST PUBLIC POLICY AND UNENFORCEABLE
IN SOME STATES.

 

6.             Arbitration
Agreement.

 

6.1          Subscriber
represents, warrants and covenants that any controversy or claim brought directly, derivatively or in a representative capacity
by him in his capacity as a present or former security holder, whether against the Company, in the name of the Company or otherwise,
arising out of or relating to any acts or omissions of the Company, or any security holder or any of their officers, directors,
agents, affiliates, associates, employees or controlling persons (including without limitation any controversy or claim relating
to a purchase or sale of the Securities) shall be submitted to arbitration under the Federal Arbitration Act in accordance with
the commercial arbitration rules of the American Arbitration Association ("AAA") and judgment upon the award rendered
by the arbitrators may be entered in any court having jurisdiction thereof. Any controversy or claim brought by the Company against
the Subscriber, whether in his capacity as present or former security holder of the Company in or against any of the Subscriber's
officers, directors, agents, affiliates, associates, employees or controlling persons shall also be submitted to arbitration under
the Federal Arbitration Act in accordance with the commercial arbitration rules of the AAA and judgment rendered by the arbitrators
may be entered in any court having jurisdiction thereof. In arbitration proceedings under this Section 6, the parties shall be
entitled to any and all remedies that would be available in the absence of this Section 6 and the arbitrators, in rendering their
decision, shall follow the substantive laws that would otherwise be applicable. This Section 6 shall apply, without limitation,
to actions arising in connection with the offer and sale of the Securities contemplated by this Agreement under any Federal or
state securities laws.

 

6.2          The
arbitration of any dispute pursuant to this Section 6 shall be held in New York City.

 

6.3          Notwithstanding
the foregoing in order to preserve the status quo pending the resolution by arbitration of a claim seeking relief of an injunctive
or equitable nature, any party, upon submitting a matter to arbitration as required by this Section 6, may simultaneously or thereafter
seek a temporary restraining order or preliminary injunction from a court of competent jurisdiction pending the outcome of the
arbitration.

 

6.4          This
Section 6 is intended to benefit the security holders, agents, affiliates, associates, employees and controlling persons of the
Company, each of whom shall be deemed to be a third party beneficiary of this Paragraph 6, and each of whom may enforce this Section
6 to the full extent that the Company could do so if a controversy or claim were brought against it.

 

7.             Applicable
Law. This Agreement shall be construed in accordance with and governed by the laws applicable to contracts made and wholly
performed in the State of New York.

 

 

 

    	 	4	 

     

    

 

8.             Execution
in Counterparts. This Agreement may be executed in one or more counterparts.

 

9.             Persons
Bound. This Agreement shall, except as otherwise provided herein, inure to the benefit of and be binding on the Company and
its successors and assigns and on each Subscriber and his respective heirs, executors, administrators, successors and assigns.

 

10.           Entire
Agreement. This Agreement, when accepted by the Company, will constitute the entire agreement among the parties hereto with
respect to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, inducements or
conditions, express or implied, oral or written, except as herein contained. This Agreement may not be modified, changed, waived
or terminated other than by a writing executed by all the parties hereto. No course of conduct or dealing shall be construed to
modify, amend or otherwise affect any of the provisions hereof.

 

11.           Assignability.
The Subscriber acknowledges that he may not assign any of his rights to or interest in or under this Agreement without the prior
written consent of the Company, and any attempted assignment without such consent shall be void and without force or effect.

 

12.           Notices.
Any notice or other communication required or permitted hereunder shall be in writing and shall be delivered personally, telegraphed,
telexed, sent by facsimile transmission or sent by certified, registered or express mail, postage prepaid, to the address of each
party set forth herein. Any such notice shall be deemed given when delivered personally, telegraphed, telexed or sent by facsimile
transmission or, if mailed, three days after the date of deposit in the United States mails.

 

13.           Interpretation.

 

13.1         When
the context in which words are used in this Agreement indicates that such is the intent, singular words shall include the plural,
and vice versa, and masculine words shall include the feminine and neuter genders, and vice versa.

 

13.2          Captions
are inserted for convenience only, are not a part of this Agreement, and shall not be used in the interpretation of this Agreement.

 

14.     
Notwithstanding anything herein to the contrary, you and each other party to the Offering (and each affiliate and person
acting on behalf of any such party) agree that each party (and each employee, representative, and other agent of such party) may
disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the transaction and all
materials of any kind (including opinions or other tax analyses) that are provided to such party or such person relating to such
tax treatment and tax structure, except to the extent necessary to comply with any applicable federal or state securities laws.
This authorization is not intended to permit disclosure of any other information including (without limitation) (i) any portion
of any materials to the extent not related to the tax treatment or tax structure of the Offering, (ii) the identities of participants
or potential participants in the Offering, (iii) the existence or status of any negotiations, (iv) any pricing or financial information
(except to the extent such pricing or financial information is related to the tax treatment or tax structure of the Offering),
or (v) any other term or detail not relevant to the tax treatment or the tax structure of the Offering.

 

15.           CERTIFICATION.
THE SUBSCRIBER CERTIFIES THAT HE HAS READ THIS ENTIRE SUBSCRIPTION AGREEMENT AND THAT EVERY STATEMENT MADE BY THE SUBSCRIBER
HEREIN IS TRUE AND COMPLETE.

 

 

 

 

    	 	5	 

     

    

 

SUBSCRIBER SIGNATURE PAGE

 

The undersigned,
desiring to subscribe for Units of Mobiquity Technologies, Inc., as set forth below, acknowledges that he has received and understands
the terms and conditions of the Agreement attached hereto and that he does hereby agree to all the terms and conditions contained
therein.

 

IN WITNESS WHEREOF,
the undersigned has hereby executed this Subscription Agreement as of the date written below.

 

Total Dollar Amount
of Investment: $1,840,000

Date of Investment:
9/11, 2019

 

 

	Exact name(s) of Subscriber(s) (Please print):	Gene Salkind MD
	 	Catherine Salkind
	 	 
	PLEASE SIGN:	/s/ Gene Salkind MD
	 	/s/ Catherine Salkind
	 	 
	 	Title if Any: ____________________________
	 	 
	Residence or Mailing Address:	1165 Wrack Road
	 	Meadowbrook, PC 19046
	Telephone Numbers (including Area Code):	215-886-8874
	 	 
	Social Security or Taxpayer	xxxxxxxxxx
	Indetification Number(s):	xxxxxxxxxx
	 	 
	 	 
	Mailing Address for Correspondence	 
	from the Company (if different from above);	___________________
	 	___________________
	 	 

 

The
subscription set forth herein is accepted by Mobiquity Technologies, Inc. for the certain number of above specified
Securities, as of this 11th day of September, 2019.

 

	 	Mobiquity Technologies, Inc.
	 	 
	 	By: ________________________
	 	       Dean L. Julia, Chief Executive Officer
	 	 

 

 

 

    	 	6	 

     

    

 

MOBIQUITY TECHNOLOGIES,INC.

SUBSCRIBER
AGREEMENT SIGNATURE PAGE

 

In witness whereof
on the date below, the undersigned subscribes in the aggregate principal amount of $1,840,000

 

 

GENE & CATHERING
SALKIND, JTUROS

Exact name(s)
in which title is to be held

 

 

 

IF INVESTOR IS AN INDIVIDUAL

 

	GENE & CATHERINE SALKIND	__xxxxx_________________
	Print Name(s0 (Exact name inwhich title is to be held)	Social Security Number(s)
	 	 
	Date: 9/11/19	Address and Telephone: 215-886-8874
	 	165 Wrack Road
	 	Meadowbrook, PA 19046
	 	Email: DISC2101@COMCAST.NET
	/s/ Gene Salkind, MD	 
	Signature of Purchaser	 
	 	* if more than one individual, indicate form of ownership
	/s/ Catherine Salkind	 
	Signature(s) of Purchaser(s) JOINT OWNERSHIP ONLY	 
	 	 

 

 

 

 

IF
INVESTOR IS AN ENTITY:

 

	________________________	_______________________
	Date	Federal Taxpayer Identification Number
	 	 
	________________________	_______________________
	Print name of Entity	State of Organization
	 	 
	By: _______________________________	Address and Telephone: __________________
	Signature	________________________
	Print Name and Title: ___________________	 
	 	_______________________
	 	Email: ____________________
	 	 
	 	 

 

 

 

 

    	 	7	 

     

    

 

Annex 1

Form of Note

 

 

 

Annex 11

Form of Warrant

 

 

 

 

 

 

 

 

 

 

    	 	8	 

     

    

 

 

Annex 3

Wire Instruction

 

 

 

 

 

 

 

 

 

 

 

    	 	9

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