Document:

Exhibit 4.1

 

GOPHER
PROTOCOL INC. 

STOCK
OPTION AGREEMENT

	 

    

This
Stock Option Agreement (“Agreement”)
is made and entered into as of the date set forth below, by and between GOPHER PROTOCOL INC., a Nevada corporation (the “Company”),
and the following director of the Company (herein, the “Optionee”):

 

In
consideration of the covenants herein set forth, the parties hereto agree as follows:

 

	1.   Option Information.	 
	 	(a)	Date of Option:	April 25, 2018
	 	(b)	Optionee:	Muhammad Khilji
	 	(c)	Number of Shares:	100,000
	 	(d)	Exercise Price:	$2.50 per share

 

2.
Acknowledgements.

(a)
Optionee is an employee and executive officer of the Company and the Company and the Optionee have entered into that certain Executive
Retention Agreement on the date hereof (the “Retention Agreement”).

 

(b)
The Board of Directors (the “Board”) has authorized the granting to Optionee of a stock option (“Option”)
to purchase shares of common stock having a par value of $0.0001 per share of the Company (“Stock”) upon the
terms and conditions hereinafter stated and pursuant to an exemption from registration under the Securities Act of 1933, as amended
(the “Securities Act”) provided by Rule 701 and Section 4(a)(2) thereunder.

 

3.
Shares; Price. The Company hereby grants to Optionee the right to purchase, upon and subject to the terms and conditions
herein stated, the number of shares of Stock set forth in Section 1(c) above (the “Shares”) for cash, or pursuant
to a Cashless Exercise (as defined below) at the price per Share set forth in Section 1(d) above (the “Exercise Price”).

 

4.
Term of Option. This Option shall expire, and all rights hereunder to purchase the Shares, shall terminate five (5) years
from the date hereof. Vesting under this Option shall earlier terminate pursuant to Sections 7 and 8 hereof upon, and as of the
date of, the termination of Optionee’s employment if such termination occurs prior to the end of such five (5) year period,
subject to the terms of any retention or other employment agreement, which may have been or may be entered into by the Company
with the Optionee, which shall prevail in the event of any conflict with the provisions of this Agreement. Nothing contained herein
shall confer upon Optionee the right to the continuation of his or her employment by or office with the Company or to interfere
with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate
in existence at the date hereof.

 

5.
Intentionally Left Blank.

 

     -1-

     

    

 

6.
Exercise. This Option may be exercised during the Term of this Option by delivery to the Company of (a) written notice
of exercise stating the number of Shares being purchased (in whole shares only) and such other information set forth on the form
of Notice of Exercise attached hereto as Appendix A, (b) a check or cash in the amount of the Exercise Price of the Shares
covered by the notice (or such other consideration as has been approved by the Board of Directors) and (c) a written investment
representation as provided for in Section 13 hereof. Notwithstanding anything to the contrary contained in this Option, this Option
may be exercised by presentation and surrender of this Option to the Company at its principal executive offices with a written
notice of the holder’s intention to effect a cashless exercise, including a calculation of the number of shares of Common
Stock to be issued upon such exercise in accordance with the terms hereof (a “Cashless Exercise”). In the event of
a Cashless Exercise, in lieu of paying the Exercise Price in cash, the holder shall surrender this Option for that number of shares
of Common Stock determined by multiplying the number of Shares to which it would otherwise be entitled by a fraction, the numerator
of which shall be the difference between the then current Market Price per share of the Common Stock and the Exercise Price, and
the denominator of which shall be the then current Market Price per share of Common Stock. Market Price is defined as the average
closing price on the principal trading market for the Common Stock during the thirty (30) trading days immediately preceding the
exercise date. This Option shall not be assignable or transferable, except by will or by the laws of descent and distribution.

 

7.
Intentionally Left Blank.

 

8.
Death of Optionee. If the Optionee shall die while in the employ of the Company, (a) vesting of the Shares pursuant to
Section 5 shall immediately cease; and (b) Optionee’s personal representative or the person entitled to Optionee’s
rights hereunder may at any time within six (6) months after the date of Optionee’s death, or during the remaining term
of this Option, whichever is the lesser, exercise this Option and purchase Shares to the extent, but only to the extent, that
Optionee could have exercised this Option as of the date of Optionee’s death; provided, in any case, that this Option may
be so exercised only to the extent that this Option has not previously been exercised by Optionee.

 

9.
No Rights as Shareholder. Optionee shall have no rights as a shareholder with respect to the Shares covered by any installment
of this Option until the effective date of the issuance of shares following exercise of this to Option, and no adjustment will
be made for dividends or other rights for which the record date is prior to the date such stock certificate or certificates are
issued except as provided in Section 10 hereof.

 

10.
Recapitalization. Subject to any required action by the shareholders of the Company, the number of Shares covered by this
Option, and the Exercise Price thereof, shall be proportionately adjusted for any increase or decrease in the number of issued
shares resulting from a subdivision or consolidation of shares or the payment of a stock dividend.

 

11.
Taxation upon Exercise of Option.

 

		(a)	Optionee
                                         understands that, upon exercise of this Option, Optionee will become liable for Federal,
                                         state, local or foreign income taxes, based on the amount by which the fair market value
                                         of the Shares, determined as of the date of exercise, exceeds the Exercise Price. 

 

		(b)	If
                                         the Company, in its discretion, determines that it is obligated to withhold any taxes
                                         in connection with the exercise of the Option, the Optionee must make arrangements satisfactory
                                         to the Company to pay or provide for any applicable federal, state, local or foreign
                                         withholding obligations of the Company. The Optionee may satisfy any federal, state,
                                         local or foreign tax withholding obligation relating to the exercise of the Option by
                                         any of the means set forth in Section 6, or the Company has the right to withhold Taxes
                                         from any compensation payable to Optionee.

 

		(c)	Notwithstanding
                                         any action the Company takes with respect to any or all taxes, the ultimate liability
                                         for all taxes is and remains the Optionee’s responsibility and the Company (a)
                                         makes no representation or undertakings regarding the calculation or treatment of any
                                         taxes in connection with the grant, vesting, or exercise of the Option or the subsequent
                                         sale of any Shares acquired on exercise; and (b) does not commit to structure the Option
                                         to reduce or eliminate the Optionee’s liability for any taxes.

 

     -2-

     

    

 

12.
Modification, Extension and Renewal of Options. The Board may modify, extend or renew this Option or accept the surrender
thereof (to the extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the
extent not theretofore exercised). Notwithstanding the foregoing provisions of this Section 12, no modification shall, without
the consent of the Optionee, alter to the Optionee’s detriment or impair any rights of Optionee hereunder.

 

13.
Investment Intent; Restrictions on Transfer.

 

(a)
Optionee represents and agrees that if Optionee exercises this Option in whole or in part, Optionee will in each case acquire
the Shares upon such exercise for the purpose of investment and not with a view to, or for resale in connection with, any distribution
thereof; and that upon such exercise of this Option in whole or in part, Optionee shall furnish to the Company a written statement
to such effect, satisfactory to the Company in form and substance. If the Shares represented by this Option are registered under
the Securities Act, either before or after the exercise of this Option in whole or in part, the Optionee shall be relieved of
the foregoing investment representation and agreement and shall not be required to furnish the Company with the foregoing written
statement.

 

(b)
Optionee further represents that Optionee has had access to the financial statements or books and records of the Company, has
had the opportunity to ask questions of the Company concerning its business, operations and financial condition, and to obtain
additional information reasonably necessary to verify the accuracy of such information.

 

(c)
Unless and until the Shares represented by this Option are registered under the Securities Act, all certificates representing
the Shares and any certificates subsequently issued in substitution therefor and any certificate for any securities issued pursuant
to any stock split, share reclassification, stock dividend or other similar capital event shall bear legends in substantially
the following form:

 

THESE
SECURITIES HAVE NOT BEEN REGISTERED OR OTHERWISE QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE ‘SECURITIES ACT’)
OR UNDER THE APPLICABLE OR SECURITIES LAWS OF ANY STATE. NEITHER THESE SECURITIES NOR ANY INTEREST THEREIN MAY BE SOLD, TRANSFERRED,
PLEDGED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE SECURITIES LAWS OF
ANY STATE, UNLESS PURSUANT TO EXEMPTIONS THEREFROM.

 

and/or
such other legend or legends as the Company and its counsel deem necessary or appropriate. Appropriate stop transfer instructions
with respect to the Shares have been or may be placed with the Company’s transfer agent.

 

14.
Notices. Any notice required to be given pursuant to this Option shall be in writing and shall be deemed to be delivered
upon receipt or, in the case of notices by the Company, five (5) days after deposit in the U.S. mail, postage prepaid, addressed
to Optionee at the address last provided by Optionee for use in Company records related to Optionee.

 

15.
This Option has been granted, executed and delivered in the State of New York, and the interpretation and enforcement shall be
governed by the laws thereof and subject to the exclusive jurisdiction of the courts therein.

 

     -3-

     

    

 

In
Witness Whereof, the parties hereto have
executed this Option as of the date first above written.

	 	 
	COMPANY:	GOPHER PROTOCOL INC.,
	 	a Nevada corporation
	 	 
	 	By: /s/ Gregory Bauer
	 	Name: Gregory Bauer
	 	Title: Chief Executive Officer
	 	 
	OPTIONEE:	Muhammad Khilji
	 	 
	 	/s/ Muhammad Khilji

 

     -4-

     

    

 

Appendix
A

 

NOTICE
OF EXERCISE

 

GOPHER
PROTOCOL INC.

_________________

 

_________________

 

_________________

 

Re:
Stock Option

 

1)       Notice
is hereby given pursuant to Section 6 of my Stock Option Agreement that I elect to purchase the number of shares set forth below
at the exercise price set forth in my option agreement:

 

Stock
Option Agreement dated: ______________

 

Number
of shares being purchased: ____________

 

Exercise
Price: $____________

 

A
check in the amount of the aggregate price of the shares being purchased is attached.

 

OR

 

2)       I
elect a cashless exercise pursuant to Section 6 of my Stock Option Agreement. The Market Price as of _______ was $_______.

 

I
hereby confirm that such shares are being acquired by me for my own account for investment purposes, and not with a view to, or
for resale in connection with, any distribution thereof. I will not sell or dispose of my Shares in violation of the Securities
Act of 1933, as amended, or any applicable federal or state securities laws.

 

I
understand that the certificate representing the Option Shares will bear a restrictive legend within the contemplation of the
Securities Act and as required by such other state or federal law or regulation applicable to the issuance or delivery of the
Option Shares.

	 	 	 
	 	By:	 	 
	 	 	(signature)
	 	Name:	 

 

     -5-Exhibit 10.1

 

Gopher Protocol Inc.

 

2500 Broadway, Suite F-125

 

Santa Monica, CA 90404

 

April 25, 2018

 

Muhammad Khilji

 

Letter of Appointment – Board of Directors

 

Dear Mr. Khilji:

 

We are pleased to offer you the role as
a director of the Board of Directors (the “Board”) of Gopher Protocol Inc. (the “Company”). This letter
contains the terms of your appointment as a director of the Board of Directors of the Company and will be effective from the date
of the signing of this letter.

 

	1.	Your
Duties:

 

		a)	You will be expected to attend all meetings (either in person or by teleconference) of the Board
of the Company, of which we expect to hold approximately four per annum as well as sign all written consents if you deem appropriate.
In addition, you will be expected to perform such other duties as are reasonably contemplated by your holding office as a director
of the Company or which may reasonably be assigned to you by the Board from time to time. 

 

		b)	As a director you will: 

 

		i)	Perform to the best of your abilities and knowledge the duties reasonably assigned to you by the
Board from time to time, whether during or outside business hours and at such places as the Board reasonably requires; 

 

		ii)	Use all reasonable efforts to promote the interests of the Company;

 

		iii)	Attend directors’ meetings;

 

		iv)	Act in the best interests of the Company; and 

	 	 	 

		v)	Work closely with the Board of Directors and the Chief Executive Officer. 

 

		c)	As you will appreciate, however, your time commitment will ultimately be a product of the matters
confronting the Company from time to time and matters properly requiring your attention as a director of the Company. 

 

		2.	Remuneration:

 

		a)	Upon signing this agreement, the Company shall issue you (i) 100,000 shares of common stock of
the Company and (ii) a stock option to purchase 100,000 shares of the Company’s common stock at an exercise price of $2.50
per share.

 

     1

     

    

 

		b)	The Company shall issue you 100,000 shares of common stock of the Company per annum in four equal
tranches of 25,000 on January 1st, April 1st, July 1st and October 1st commencing January
1, 2019.

 

		c)	The Company shall pay you $5,000 per quarter on January 1st, April 1st, July
1st and October 1st commencing July 1, 2018.

 

		3.	Expenses: Subject to you providing the
Company with receipts or other evidence of payment, the Company will pay for or reimburse you for all travelling, hotel and other
expenses reasonably incurred by you in connection with attending and returning from Board, Committee, Company, meetings or otherwise
in connection with the Company’s business. Reasonable travel and out of pocket expenses used in connection with the business
of the Group shall include:

 

		a)	Domestic and international travel (economy class under 4 hours and business class over 4 hours);
and 

 

		b)	Hotel accommodation. 

 

		4.	Termination of Appointment: 

 

		a)	Your appointment as the Director may be terminated at any time by the vote of the stockholders
of the Company in accordance with the certificate of incorporation and bylaws of the Company. 

 

		b)	You acknowledge and agree that if the shareholders of the Company terminate your appointment, you
will have no claim of any kind against the Company by reason of the termination.  

 

		c)	You are at liberty to terminate the appointment at any time by notice in writing to the Company.

 

		5.	What happens after termination of appointment? 

If your appointment is terminated for any reason or you resign for any
reason: 

 

		a)	The Company may set off any amounts you owe the Company against any amounts the Company owes to
you as a Director at the date of termination except for amounts the Company is not entitled by law to set off; 

 

		b)	You must return all the Company’s property (including property leased by the Company) to
the Company on termination including all written or machine readable material, software, computers, credit cards, keys and vehicles;
and 

 

		c)	You must not record any confidential information in any form after termination.

 

		6.	Prohibited Activities: 

 

		a)	You undertake to the Company that you will not during the term of your appointment engage in a
business or an activity that would place you in a position of conflict in respect of the performance of your duties. 

 

     2

     

    

 

		b)	The terms of your appointment do not restrict you from accepting appointment as a director of any
other company outside of the Company’s industry, providing consulting services or any other business or other activity whatsoever.
The Company acknowledges and accepts your current roles as a director.  You recognize that the services to be performed by you
under the Agreement are special, unique and extraordinary. The parties confirm that it is reasonably necessary for the protection
of the Company’s goodwill that you agree, and accordingly, you do hereby agree and covenant, that during your term as director,
you will not, directly or indirectly, except for the benefit of the Company:

  

		i.	become an officer, director, more than 2% stockholder, partner, associate, employee, owner, proprietor,
agent, creditor, independent contractor, co-venturer or otherwise, or be interested in or associated with any other corporation,
firm or business engaged in the same or any similar business competitive with that of the Company (including the Company’s
present and future subsidiaries and affiliates) (the “Business”); or

 

		ii.	solicit, cause or authorize, directly or indirectly, to be solicited for or on behalf of himself
or third parties from parties who were customers of the Company (including its present and future subsidiaries and affiliates)
at any time during your term, any business similar to the business transacted by the Company with such customer; or

 

		iii.	accept or cause or authorize, directly or indirectly, to be accepted for or on behalf of your or
third parties, business from any such customers of the Company (including its present and future subsidiaries and affiliates);
or

 

		iv.	solicit, or cause or authorize, directly or indirectly, to be solicited for employment for or on
behalf of you or third parties, any persons who were at any time during your term hereunder, employees of the Company (including
its present and future subsidiaries and affiliates); or

 

		v.	employ or cause or authorize, directly or indirectly, to be employed for or on behalf of yourself
or third parties, any such employees of the Company (including its present and future subsidiaries and affiliates); or

 

		vi.	use the tradenames, trademarks, or trade dress of any of the products of the Company (including
its present and future subsidiaries and affiliates); or any substantially similar tradename, trademark or trade dress likely to
cause, or having the effect of causing, confusion in the minds of manufacturers, customers, suppliers and retail outlets and the
public generally.

 

You acknowledge the intention that
the Company shall have the broadest possible protection of the value of its business consistent with public policy, and it will
not violate the intent of the parties if any court should determine that, consistent with established precedent of the forum state,
the public policy of such state requires a more limited restriction in geographical area or duration of the aforesaid covenant
not to compete, contained in an appropriate decree.

 

		c)	Except as permitted in this Agreement or as approved by the Company,
you will not (i) use any Confidential Information (as defined below) or (ii) disseminate or in any way disclose the Confidential
Information to any person, firm, business or governmental agency or department. You may use the Confidential Information to perform
your Duties for the benefit of Company. You shall treat all Confidential Information with the same degree of care as you accord
to your own confidential information, but in no case shall you use less than reasonable care. You shall immediately give notice
to Company of any unauthorized use or disclosure of the Confidential Information. You shall assist Company in remedying any the
unauthorized use or disclosure of the Confidential Information. You agree not to communicate any information to Company in violation
of the proprietary rights of any third party.

 

“Confidential
Information” means (a) any technical and non-technical information related to the Company’s business and current, future
and proposed products and services of Company, including for example and without limitation, Company innovations, intellectual
property, and information concerning research, development, design details and specifications, financial information, procurement
requirements, engineering and manufacturing information, customer lists, business forecasts, sales information, marketing plans
and business plans, and provided, in each case, that each is marked as “confidential” or “proprietary”
and (b) any information that Company has received from others that may be made known to you and that Company is obligated to treat
as confidential or proprietary, and provided, in each case, that each is marked as “confidential” or “proprietary”.

 

     3

     

    

 

		7.	Notices and Other Communications: 

 

		a)	Service of Notices 

A notice, demand, consent, approval or communication under this letter (collectively a “Notice”) must be: 

 

		i)	In writing and in English directed to the address advised by the recipient for notices, as varied
by any notice; and 

 

		ii)	Hand delivered or sent by prepaid post or facsimile to that address. 

 

		b)	Effective on Receipt: A Notice given in accordance with section 7a takes effect when received (or
at a later time specified in the Notice), and is taken to be received: 

 

		i)	If hand delivered, on delivery; 

 

		ii)	If sent by prepaid post, two Business Days after the date of posting (or seven Business Days after
the date of posting if posted to or from outside The United States of America); 

 

		iii)	If sent by facsimile, when the sender’s facsimile system generates a message confirming successful
transmission of the entire Notice unless, within eight Business Hours after the transmission, the recipient informs the sender
that it has not received the entire Notice;

 

but if the delivery, receipt or transmission is not on a Business Day or is after 5.00pm on a Business Day, the Notice is taken
to be received at 9.00am on the Business Day after that delivery, receipt or transmission. 

 

		8.	Miscellaneous

 

		a)	Alterations: This letter may be altered only in writing signed by each party. 

 

		b)	Approvals and consents: Except where this letter expressly states otherwise, a party may, in its
discretion, give conditionally or unconditionally or withhold any approval or consent under this letter. 

 

		c)	Assignment: This letter may NOT be assigned by either party. 

 

		d)	Costs: Each party must pay its own costs of negotiating, preparing and executing this letter.

 

		e)	Survival: Any indemnity in this letter is independent and survives termination of this letter.
Any other provision by its nature intended to survive termination of this letter survives termination of this letter. 

 

		f)	Counterparts: This letter may be executed in counterparts. All executed counterparts constitute
one document. 

 

     4

     

    

 

		g)	No Merger: The rights and obligations of the parties under this letter do not merge on completion
of any transaction contemplated by this letter. 

 

		h)	Entire Agreement: This letter constitutes the entire agreement between the parties in connection
with its subject matter and supersedes all previous agreements or understandings between the parties in connection with its subject
matter. 

 

		i)	Further Action: Each party must do, at its own expense, everything reasonably necessary (including
executing documents) to give full effect to this letter and the transactions contemplated by it. 

 

		j)	Waiver: A party does not waive a right, power or remedy if it fails to exercise or delays in exercising
the right, power or remedy. A single or partial exercise of a right, power or remedy does not prevent another or further exercise
of that or another right, power or remedy. A waiver of a right, power or remedy must be in writing and signed by the party giving
the waiver.  

 

		k)	Relationship: Except where this letter expressly states otherwise, it does not create a relationship
of employment, agency or partnership between the parties. 

 

		l)	Confidentiality: A party may only use the confidential information of another party for the purposes
of this letter, and must keep the existence of this letter and the terms of it and the confidential information of another party
confidential information except where: 

 

		i)	The information is public knowledge (but not because of a breach of this letter) or the party has
independently created the information; or 

 

		ii)	Disclosure is required by law or a regulatory body (including a relevant stock exchange).

 

		m)	Announcements: A public announcement in connection with this letter or a transaction contemplated
by it must be agreed by the parties before it is made, except if required by law or a regulatory body (including a relevant stock
exchange). 

 

		9.	Insurance: The Company has directors’
and officers’ liability insurance under which you are covered in the US and elsewhere for all usual risks during the term
of your appointment as the Director. The Company will maintain that cover for the full term of your appointment. 

 

		10.	Contract for Services: This is a contract
for services and is not a contract of employment. 

 

		11.	Governing Law: This Agreement shall be
governed by the laws of the State of Nevada (without giving effect to choice of law principles or rules thereof that would cause
the application of the laws of any jurisdiction other than the State of Nevada) and the invalidity or unenforceability of any provision
hereof shall in no way affect the validity or enforceability of any other provision. Any provision of this Agreement which is prohibited
or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective only to the extent of such prohibition or unenforceability
without invalidating or affecting the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction
shall not invalidate or render unenforceable such provision in any other jurisdiction. 

 

Please sign the attached copy of this letter
to indicate that you have read, understood and accept the terms of your appointment.

 

     5

     

    

 

	Yours
    Sincerely,
	 
	Gopher
    Protocol Inc.
	 
	By:_
    /s/Gregory Bauer Name:
	 
	Gregory
    Bauer
	 
	Title:
    Chief Executive Officer
	 
	Agreed
    to and accepted by:
	 
	/s/
    Muhammad Khilji
	Muhammad
    Khilji

 

     6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00282-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00282-of-00352.parquet"}]]