Document:

Exhibit 10.1

 

STOCK PLEDGE AGREEMENT

 

THIS STOCK PLEDGE AGREEMENT (“Agreement”),
effective as of January 8th, 2019, is executed by Gopher Protocol Inc., a Nevada corporation with a business address
located at 2500 Broadway, Suite F-125, Santa Monica, CA 90404 (the “Pledgor”) in favor of Latin American Exchange
Latinex Casa de Cambio, S.A. a Costa Rica Corporation with a business address located at EBC – Davivienda Building 1st
floor, Meridiano Business Center Escazu, San Jose 10203 Costa Rica (“Latinex”).

 

RECITALS

 

A.          Latinex
is a fully licensed and Central Bank regulated “Currency Exchange” in Costa Rica. Latinex
is Authorized by the Central Bank of Costa Rica (“BCCR”) and authorized and supervised by the General Superintendence
of Financial Institutions (“SUGEF”). Latinex is associated to the National System of Electronic Payments (“SINPE”
and collectively with BCCR and SUGEF, the “CR Regulators”).

 

B.           The
CR Regulators requires that Latinex maintain a certain level of regulatory risk capital of to support its business (“Capital”).

 

C.           As
of the date hereof, Pledgor presently has Capital.

 

D.           Pledgor,
in order to allow Latinex sustain a level of regulatory risk its business, as well as capital to support working capital needs,
has agreed to pledge shares of its common stock, $0.0001 par value per share, with a value of USD $7,500,000 for a term of three
years from the date that the CR Regulators approve such pledge.

 

E.           Latinex,
in consideration of Pledgor providing such pledge, has agreed to pay Pledgor USD $375,000 per annum to be paid quarterly in installments
of USD $93,750 in arrears commencing January 1, 2019. Said consideration may be paid with virtual currency of Latinex associate
WISE Network S.A. with the symbol WSE. Where the face value of WSE is 1 WSE = $10, Pledgor will accept payments via WSE at 50%,
e.g. 1 WSE = $5 US Dollars.

 

NOW, THEREFORE, in
consideration of the foregoing and the terms and conditions hereafter set forth, Pledgor agrees as follows:

 

1.            Pledge.
In accordance with the term of this Agreement, Pledgor hereby grants to Latinex security interest in, and hereby assigns to Latinex
all right, title and interest of Pledgor in and to shares of common stock of Pledgeor equal to USD $7,500,000 divided by the Pledgor’s
closing price on the date prior to the date hereof, including without limitation, all evidence of the same. (hereafter referred
to as “Collateral”).

 

2.            Representations
and Warranties. Pledgor represents and warrants to Latinex that:

 

		(a)	Pledgor has, and has duly exercised, all requisite power and authority to enter into this Agreement,
to pledge its interest in the Collateral and to carry out the transactions contemplated by this Agreement.

 

     

     

    

 

		(b)	Pledgor is the legal and beneficial owner of all of the Collateral.

 

		(c)	All of the Collateral is free of any pledge, mortgage, hypothecation, lien, charge, encumbrance
or security interest or the proceeds thereof, except for that granted hereunder.

 

		(d)	The execution and delivery of this Agreement, and the performance of its terms, will not violate
or constitute a default under the terms of any other agreement, indenture or other instrument, license, judgment, decree, order,
law, statute, code, ordinance or other governmental rule or regulation, applicable to Pledgor or any of Pledgor’s property
or the consent to this Agreement and the performance of its terms has been obtained from all necessary third parties.

 

		(e)	The execution and delivery of this Agreement, and the performance of its terms, will not result
in any violation of any provision of the articles of incorporation, bylaws and shareholder agreements, if any, pertaining to Pledgor
or Borrower or the consent to this Agreement and the performance of its terms has been obtained from all necessary third parties.

 

3.           Covenants.
Pledgor agrees upon the receipt by Latinex of written notice from the CR Regulators that Latinex’s Capital has decreased
below $5,000,000, Latinex is permitted to sell the Collateral or any portion of the Collateral only in an amount to ensure that
the Company can satisfy the required Capital. Upon Latinex receipt of written notice from the CR Regulators, Latinex will provide
written notice to Pledgor of its intent to sell a specific portion of the Collateral, which shall include a copy of such written
notice from the CR Regulators. Pledgor must consent to such sale of the Collateral, which may not be unreasonably withheld. In
addition, Latinex will provide Pledgor with further notice once sales are finalized. All sales of the Collateral will be made in
accordance with the Securities Act of 1933, as amended. Upon expiration of this Agreement, the remaining Collateral shall be returned
to the Pledgor free and clear of all liens.

 

F.          4.          Fees. Latinex,
in consideration of Pledgor pledging the Collateral, has agreed to pay Pledgor USD $375,000 per annum to be paid quarterly in
installments of USD $93,750 in arrears commencing January 1, 2019. Said consideration may be paid with virtual currency of
Latinex associate WISE Network S.A. with the symbol WSE. Where the face value of WSE is 1 WSE = $10, Pledgor will accept
payments via WSE at 50%, e.g. 1 WSE = $5 US Dollars. 

 

5.           Termination.
The term of this Agreement shall be three (3) years from the date hereof. Latinex in its sole discretion may terminate the Agreement
at anytime, provided, however, upon termination, Latinex is required to return the Collateral immediately upon such termination.
In the event Latinex fails to make any payment under Section 4 of this Agreement and such non-payment continues for a period of
five (5) business days at which point the Collateral will be returned to the Pledgor. Upon any such termination hereunder, Latinex
will pay Pledgor $150,000 in addition to all additional fees payable hereunder.

 

    2

     

    

 

6.           Law
and Jurisdiction. The laws of the State of California apply to this Agreement, without deference to the principles of conflicts
of law. Both jurisdiction and venue for any litigation pursuant to this Agreement shall be proper in the courts of the county of
Los Angeles, State of California.

 

7.           Assignment.
This Agreement may not be assigned by either party without the prior written consent of the non-assigning party.

 

8.           Notices.
Any notice, consent or authorization required or permitted to be given pursuant to this Agreement shall be in writing and sent
to the party for or to whom intended, at the address of such party set forth above, by registered or certified mail (if available),
postage paid, or at such other address as either party shall designate by notice given to the other in the manner provided herein.

 

[signature page to follow]

 

    3

     

    

 

IN WITNESS WHEREOF,
the undersigned has caused this Stock Pledge Agreement to be duly executed as of the day and year first above written.

 

	 	PLEDGOR
	 	 
	 	Gopher
Protocol Inc.
	 	 
	 	By:/s/ Douglas
Davis
	 	Name:
	 	Title:

 

	LATINEX	 
	 	 
	Latinex Casa de Cambio, S.A.	 
	 	 
	By:/s/ Mauricio E. Lara R.	 
	Name: Mauricio E. Lara R.	 
	Title: Vice President	 

 

    4Exhibit 4.5

 

STOCK CERTIFICATE

 

	
          Common Stock

        Par value $0.0001
	Number of Shares: ****0****

 

 

GTY Govtech, Inc.

 

INCORPORATED UNDER THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS

 

 

This certifies that [Name]  is the owner of  [Number
of Shares]  fully paid and non-assessable shares of the common stock of GTY Govtech, Inc. (hereinafter called the “Corporation”)
transferable on the books of the Corporation in person or by duly authorized attorney, upon surrender of this Certificate properly
endorsed. This Certificate and the shares represented hereby, are issued and shall be held subject to all of the provisions of
the Articles of Incorporation, as amended, and the Bylaws, as amended, of the Corporation, to all of which each holder, by acceptance
hereof, assents.

 

The Corporation is authorized to issue and sell more than one
class or series of stock. The Corporation will furnish, without charge, to each stockholder who so requests in writing a summary
of the powers, designations, preferences and relative, participating, optional or other special rights of each class of stock of
the Corporation and the qualifications, limitations or restrictions of such powers, preferences or rights, and the variations in
powers, preferences or rights and limitations determined for each series which are fixed by the Articles of Incorporation, as amended,
the Bylaws, as amended, and the resolutions of the Board of Directors of the Corporation and the authority of the Board of Directors
to determine such variations for future series. Such request may be made in writing to the office of the Secretary of the Corporation
or the Transfer Agent.

 

IN WITNESS THEREOF, the facsimile seal of the Corporation and
the facsimile signatures of its duly authorized officers are set forth herein.

 

 

	   	 	   
	
        

        Treasurer or Assistant Treasurer 
	 	
        

        President or Vice PresidentTHIS
NOTE AND THE COMMON STOCK ISSUABLE UPON CONVERSION OF THIS NOTE HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE UNITED STATES
SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER (THE “1933 ACT”)

 

$110,000.00

 

LANDSTAR,
INC.

8%
CONVERTIBLE REDEEMABLE NOTE

DUE
July 16, 2019

 

FOR
VALUE RECEIVED, LandStar, Inc. (the “Company”)
promises to pay to the order
of AFT Funding Corp and its authorized successors and permitted assigns (“Holder”),
the aggregate principal face
amount of One Hundred and Ten Thousand Dollars exactly (U.S.$110,000.00)
on July 16, 2019 (“Maturity Date”) and to pay interest on the principal amount outstanding hereunder at the
rate of 8% per annum commencing on October 16, 2018 (the “Issue Date”). This Note contains an original issue
discount of Ten Thousand Dollars ($10,000.00) such that the purchase price of the note is $100,000.
The interest will be paid to
the Holder in whose name this Note is registered on the records of the Company regarding registration and transfers of this Note.
The principal of, and
interest on, this Note are payable to AFT Funding Corp. initially,
and if changed,
last appearing on the records
of the Company as designated in writing by the Holder hereof from time to time. The Company will
pay each interest payment and
the outstanding principal due upon this Note before or on the Maturity Date, less any amounts required by law to be deducted or
withheld, to the Holder of this Note by check or wire
transfer addressed to such Holder
at the last address appearing
on the records of the Company. The forwarding of such check or wire transfer shall constitute a payment of outstanding principal
hereunder and shall satisfy and discharge the liability for principal on this Note to the extent of the sum represented by such
check or wire transfer. Interest shall be payable in Common Stock (as defined below) pursuant to paragraph 4(b) herein. This Note
is subject to the following additional provisions:

 

1.
This Note is exchangeable for an equal aggregate principal amount of Notes of different authorized denominations,
as requested by the Holder surrendering
the same. No ser vice charge will be made for such registration or transfer or exchange, except that Holder shall pay any tax
or other governmental charges payable in connection therewith.

 

_____

Initials

 

    	 	 	 

    	 

    

 

2.
The Company shall be entitled to withhold from all payments any amounts required to be withheld under applicable laws.

 

3.
This Note may be transferred or exchanged only in compliance with the Securities Act of 1933, as amended (“Act”),
and applicable state securities laws. Any attempted transfer to a non-qualifying party shall be treated by the Company as
void. Prior to due present ment for transfer of this Note, the Company and any agent of the Company may treat the person in whose
name this Note is duly registered on the Company’s records as the owner hereof for all other purposes, whether or not this
Note be overdue, and neither the Company nor any such agent shall be affected or bound by notice to the contrary. Any Holder of
this Note electing to exercise the right of conversion set forth in Section 4(a) hereof, in addition to the requirements set forth
in Section 4(a), and any prospective transferee of this Note, also is
required to give the Company
written confirmation that this Note is being converted (“Notice of Conversion”) in the form an nexed hereto
as Exhibit A. The date of receipt (including receipt by telecopy) of such Notice of Conversion shall be the Conversion
Date.

 

4.
(a) The Holder of this Note is entitled, at its option at any time, to con- vert all or any amount of the principal face amount
of this Note then outstanding into shares of the Company’s common stock (the “Common Stock”),
at a price (“Conversion
Price”) for each share of Common Stock equal to 70% of the lowest trading price of the Common Stock as
reported on the OTCPK marketplace which the Company’s shares are traded or any market upon which the Common Stock may be
traded in the future (“Exchange”),
for twenty
day look back at the lower of (i) 20 trading days immediately preceding the Issue Date or (ii) 20 trading days immediately preceding
the receipt of a notice of conversion (provided such Notice of Conversion is delivered by fax or other electronic method of communication
to the Company after 4 P.M. Eastern Standard or Daylight Savings Time if the Holder wishes to include the same day closing price).
If the shares have not been delivered within 5 business days, the Notice of Conversion may be rescinded. Such conversion shall
be effectuated by the Company delivering the shares of Common Stock to the Holder within 3 business days of receipt by the Company
of the Notice of Conversion. Once the Holder has received such shares of Common Stock, the Holder shall surrender this Note to
the Company, executed by the Holder evidencing such Holder’s intention to convert this Note or a specified portion hereof,
and accompanied by proper assignment hereof. Accrued, but unpaid interest shall be subject to conversion. No fractional shares
or scrip representing fractions of shares will be issued on conversion, but the number of shares issuable shall be rounded to
the nearest whole share. In the event
the Company experiences
a DTC “Chill” on its shares, the conversion price shall be decreased to 60% instead of 70% while that
“Chill” is
in effect. If
the Company fails to repay the Note on the Maturity Date, the conversion discount shall be increased by 20%. In no event shall
the Holder be allowed to effect a conversion if such conversion, along with all other shares of Company Common Stock beneficially
owned by the Holder and its affiliates would exceed 9.9% of the outstanding shares of the Common Stock of the Company.

 

    	 	2	 

    	 

    

 

(b)
Interest on any unpaid principal balance of this Note shall be paid at the rate of 8% per annum. Interest shall be paid by the
Company in Common Stock (“Interest Shares”). Holder may,
at any time,
send in a Notice of Conversion
to the Company for Interest Shares based on the formula provided in Section 4(a) above. The dollar amount converted into Interest
Shares shall be all or a portion of the accrued interest calculated on the unpaid principal balance of this Note to the date of
such notice.

 

(c)
Upon the occurrence of any Event of Default, the Holder shall have the right, at its option to have the Note redeemed equal to
150% of the unpaid principal amount of this Note along with any accrued interest.

 

(d)
Upon (i) a transfer of all or substantially all of the assets of the Company to any person in a single transaction or series of
related transactions, (ii)
a reclassification, capital
reorganization or other change or exchange of outstanding shares of the Common Stock, other than a forward or reverse stock split
or stock dividend, or (iii) any consolidation or merger of the Company with or into another person or entity in which the Company
is not the surviving entity (other than a merger which is effected solely to change the jurisdiction of incorporation of the Company
and results in a reclassification, conversion or exchange of outstanding shares of Common Stock solely into shares of Common Stock)
(each of items (i), (ii)
and (iii) being referred to as a “Sale Event”),
then, in each case, the Company
shall, upon
request of the Holder, redeem
this Note in cash for 150% of the principal amount, plus accrued but unpaid interest through the date of redemption, or at the
election of the Holder, such Holder may convert the unpaid principal amount of this Note (together with the amount of accrued
but unpaid interest) into shares of Common Stock immediately prior to such Sale Event at the Conversion Price.

 

(e)
In case of any Sale Event (not to include a sale of all or substantially all of the Company’s assets) in connection with
which this Note is not redeemed or converted, the Company shall cause effective provision to be made so that the Holder of this
Note shall have the right thereafter,
by converting this Note, to purchase
or convert this Note into the kind and number of shares of stock or other securities or property (including cash) receivable upon
such reclassification, capital
reorganization or other change, consolidation or merger by a holder of the number of shares of Common Stock that could have been
purchased upon exercise of the Note and at the same Conversion Price, as defined in this Note,
immediately prior to such Sale
Event. The forego ing provisions shall similarly apply to successive Sale Events. If the consideration received by the holders
of Common Stock is other than cash, the value shall be as determined by the Board of Directors of the Company or successor person
or entity acting in good faith.

 

5.
No provision of this Note shall alter or impair the obligation of the Com- pany, which is absolute and unconditional, to pay the
principal of, and interest on, this Note at the time, place, and rate, and in the form, herein prescribed.

 

6.
The Company hereby expressly waives demand and presentment for pay- ment, notice of non-payment,
protest,
notice of protest,
notice of dishonor, notice of
acceleration or intent to accelerate,
and diligence in taking any action
to collect amounts called for hereunder and shall be directly and primarily liable for the payment of all sums owing and to be
owing hereto.

 

    	 	3	 

    	 

    

 

7.
PREPAYMENT CLAUSE:

 

If
at any time after the Issue Date the Company wishes to repurchase this Note, the following terms apply:

 

1-60
days - 120% of face amount of Note plus any accrued int.

61-120
days -135% of face amount of Note plus any accrued int.

121-180
days - 150% of face amount of Note plus any accrued int.

 

8.
The Company agrees to pay all costs and expenses,
including reasonable attorneys’
fees and expenses, which may be incurred by the Holder in collecting any amount due under this Note.

 

9.
If one or more of the following described “Events of Default” shall occur:

 

(a)
The Company shall default in the payment of principal or interest on this Note or any other note issued to the Holder by the Company;
or

 

(b)
Any of
the representations or warranties made by the Company herein or in any certificate or financial or other written statements heretofore
or hereafter furnished by or on behalf of the Company in connection with the execution and delivery of this Note shall be false
or misleading in any respect;
or

 

(c)
The Company shall fail to perform or observe,
in any respect,
any covenant,
term,
provision, condition, agreement
or obligation of the Company under this Note or any other note issued by the Company to the Holder;
or

 

(d)
The Company shall (1) become insolvent; (2) admit in writing its inability to pay its debts generally as they mature; (3) make
an assignment for the benefit of creditors or commence proceedings for its dissolution;
(4) apply for or consent to the
appointment of a trustee,
liquidator or receiver for its or for
a substantial part of its property or business; (5) file a petition for bankruptcy relief, consent to the filing of such petition
or have filed against it an involuntary petition for bankruptcy relief,
all under federal or state laws
as applicable; or

 

(e)
A trustee, liquidator or receiver shall be appointed for the Company or for a substantial part of its property or business without
its consent and shall not be discharged within sixty (60) days after such appointment; or

 

(f)
Any governmental
agency or any court of competent jurisdiction at the in- stance of any governmental agency shall assume custody or control of
the whole or any substantial portion of the properties or assets of the Company; or

 

(g)
One or more money judgments
, writs
or warrants of attachment, or similar process,
in excess of fifty thousand dollars
($50,000) in the aggregate, shall
be entered or filed against the Company or any of its properties or other assets and shall remain unpaid,
unvacated,
unbonded or unstayed for a period
of fifteen (15) days or in any event later than five (5) days prior to the date of any proposed sale thereunder; or

 

    	 	4	 

    	 

    

 

(h)
The Company shall have defaulted on or breached any term of any other note or similar debt instrument into which the Company has
entered and failed to cure such default within the appropriate grace period; or

 

(i)
The Company shall have its Common Stock delisted from a trading market (including the OTC Exchange Market) or,
if the Common Stock trades on
an exchange, then trad ing in the Common Stock shall be suspended for more than 10 consecutive days or ceases to file its
1934 act reports with the SEC after it becomes a mandatory filer with the SEC;

 

g)
If Jason Remillard ceases to be a member of the Board of Directors of the Company, or once the Company has more than three (3)
Directors, a majority of the then members of the Board of Directors of the Company on are no longer serving as members of the
Board;

 

(k)
The Company shall not deliver to the Holder the Common Stock pursuant to paragraph 4 herein within 3 business days of its receipt
of a Notice of Conversion;

 

(1)
The Company shall not replenish the reserve set forth in Section 12, within 3 business days of the request of the Holder;

 

(m)
The Company shall not get “current” within six months after the Issue Date, or thereafter stay current in its filings
with the Securities and Exchange Commission; or

 

(n)
The Company shall lose the “bid” price for its stock in a market (including the OTC marketplace or other exchange).

 

Then,
or at any time thereafter, unless
cured within 5 days, and in each and every such case, unless such Event of Default shall have been waived in writing by the Holder
(which waiver shall not be deemed to be a waiver of any subsequent default) at the option of the Holder and in the Holder’s
sole discretion, the Holder may consider this Note immediately due and payable, without presentment, demand, protest or (further)
notice of any kind (other than notice of acceleration), all of which are hereby expressly waived, anything herein or in any note
or other instruments contained to the contrary notwithstanding, and the Holder may immediately, and without expiration of any
period of grace, enforce any and all of the Holder’s rights and remedies provided herein or any other rights or remedies
afforded by law. Upon an Event of Default,
interest shall accrue at a default
interest rate of 24% per annum or, if such rate is usurious or not permitted by current law, then at the highest rate of interest
permitted by law. In the event of a breach of Section 8(k) the penalty shall be $250 per day the shares are not issued beginning
on the 4th day after the conversion notice was delivered to the Company. This penalty shall increase to $500 per day
beginning on the 10th day. The penalty for a breach of Section 9(n) shall be an increase of the outstanding principal
amounts by 20%. In case of a breach of Section 9(i), the outstanding principal due under this Note shall increase by 50%. If this
Note is not paid at maturity, the outstanding principal due under this Note shall increase by 10%. Further, if a breach of Section
9(m) occurs or is continuing after the 6 month anniversary of the Note, then the Holder shall be entitled to use the lowest closing
bid price during the delinquency period as a base price for the conversion.
For example,
if the lowest closing bid price
during the delinquency period is $0.01 per share and the conversion dis count is 50% the Holder may elect to convert future conversions
at $0.005 per share.

 

    	 	5	 

    	 

    

 

If
the Holder shall commence an action or proceeding to enforce any provisions of this Note, including,
without limitation, engaging
an attorney, then if the Holder prevails in such action, the Holder shall be reimbursed by the Company for its reasonable attorneys’
fees and other costs and expenses incurred in the investigation, preparation and prosecution of such action or proceeding.

 

Make-Whole
for Failure to Deliver Loss. At the Holder’s election,
if the Company
fails for any reason to deliver to the Holder the conversion shares by the by the 3rd business day following the delivery of a
Notice of Conversion to the Company and if the Holder incurs a Failure to Deliver Loss, then at any time the Holder may provide
the Company written notice indicating the amounts payable to the Holder in respect of the Failure to Deliver Loss and the Company
must make the Holder whole as follows: Failure to Deliver Loss= [(High trade price at any time on or after the day of exercise)
x (Number of conversion shares)]

 

The
Company must pay the Failure to Deliver Loss by cash payment, and any such cash payment must be made by the third business day
from the time of the Holder’s written notice to the Company.

 

10.
In case any provision of this Note is held by a court of competent jurisdiction to be excessive in scope or otherwise invalid
or unenforceable, such provision shall be ad justed rather than voided, if possible, so that it is enforceable to the maximum
extent possible, and the validity and enforceability of the remaining provisions of this Note will not in any way be affected
or impaired thereby.

 

11.
Neither this Note nor any term hereof may be amended, waived, discharged or terminated other than by a written instrument signed
by the Company and the Holder.

 

12.
The Company shall issue irrevocable transfer agent instructions reserving 50,000,000 shares of its Common Stock when practicable
for conversions under this Note (the “Share Reserve”). Upon full conversion of this Note, any shares remaining in
the Share Reserve shall be cancelled. The Company shall pay all costs associated with issuing and delivering the shares. If such
amounts are to be paid by the Holder, it may deduct such amounts from the Con version Price. Conversion Notices may be sent to
the Company or its transfer agent via electric mail. The Company should at all times reserve a minimum of five times the amount
of shares required if the Note would be fully converted. The Holder may reasonably request increases from time to time to reserve
such amounts.

 

13.
The Company will give the Holder direct notice of any corporate actions, including but not limited to name changes, stock splits,
recapitalizations etc. This notice shall be given to the Holder as soon as possible under law.

 

14.
This Note shall be governed by and construed in accordance with the laws of New York applicable to contracts made and wholly to
be performed within the State of New York and shall be binding upon the successors and assigns of each party hereto. The Holder
and the Company hereby mutually waive trial by jury and consent to exclusive jurisdiction and venue in the courts of the State
of New York or in the
federal courts sitting in the county and city of New York. This Agreement may be executed in counterparts, and the facsimile transmission
of an executed counterpart to this Agreement shall be effective as an original.

 

    	 	6	 

    	 

    

 

IN
WITNESS
WHEREOF, the
Company has caused this Note to be duly executed by an officer thereunto duly authorized.

 

	Dated:_Oct
    16,2018_______	 	 
	 	 	 
	 	LandStar
    Inc.
	 	 	 
	 	By:	      
	 	 	 
	 	Title	

 

    	 	7	 

    	 

    

 

EXHIBIT
A

 

NOTICE
OF CONVERSION

 

(To
be Executed by the Registered Holder in order to Convert the Note)

 

The
undersigned hereby irrevocably elects to convert $____________of the above Note into _________________Shares of
Common Stock of LandStar, Inc. (“Shares”) according to the conditions set forth in such Note, as of the date written
below.

 

If
Shares are to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer and other taxes
and charges payable with respect thereto.

 

Date
of Conversion: ___________________________________

Applicable
Conversion Price:_________________________________________

Signature:__________________________________________________

 

[Print
Name of Holder and Title of Signer]

Address:
___________________________________

_________________________________________________________________________________

 

SSN
or EIN: ___________________________________

Shares
are to be registered in the following name: ______________________________________________

 

Name:
_______________________________________

Address:
_____________________________________

Tel:
_________________________________________

Fax:
_________________________________________

SSN
or EIN: ___________________________________

 

Shares
are to be sent or delivered to the following account:

 

Account
Name: ___________________________________

Address:
________________________________________

 

    	 	8

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