Document:

Exhibit

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Exhibit 10.12
AMENDED AND RESTATED RETENTION AGREEMENT

THIS AMENDED AND RESTATED RETENTION AGREEMENT made as of the 15th day of  September, 2019

B E T W E E N:

SPHERE 3D CORP., a corporation existing pursuant to the laws of the Province of Ontario

(herein called the "Corporation")

OF THE FIRST PART
and

JOSEPH O’DANIEL, residing in 

(herein called the "Executive")

OF THE SECOND PART
WHEREAS the Corporation and Executive entered into a Retention Agreement on August 15, 2019 which shall be cancelled and replaced by this Amended and Restated Retention Agreement (the “Agreement”).

WHEREAS the Executive currently serves as President – Virtualization & Professional Services of the Corporation (the "Position");

AND WHEREAS in accordance with an employment letter dated January 25, 2017, the Corporation agreed to provide the Executive with a retention bonus in the amount of US$700,442 of which US$533,802 is unpaid (the “Outstanding Retention Payment”); 

AND WHEREAS the Corporation does not have sufficient financial resources to pay the Outstanding Retention Payment to the Executive.  Accordingly, the Executive is prepared to waive his entitlement to receive the Outstanding Retention Payment and restructure such payment entitlement on the terms set forth in this Agreement;

AND WHEREAS the Corporation considers the continuance of a sound and vital management team of the Corporation to be essential to protecting and enhancing the best interest of the Corporation and its shareholders and wishes to enter into this Agreement to encourage the Executive to continue to perform all of his responsibilities in a diligent manner;

     IN CONSIDERATION of the mutual covenants set out herein, the parties agree as follows:

		
	1.
	Waiver of Outstanding Retention Payment

The Executive hereby agrees to waive his entitlement to receive the Outstanding Retention Payment and to restructure such payment entitlement on the terms set forth in this Agreement.  

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	2.
	Ongoing Services

The Executive shall devote sufficient time and attention towards the interests of the Corporation in connection with holding the Position.  Without limiting the generality of the foregoing, the Executive shall continue to perform all of his responsibilities related to the Position in a diligent, faithful and professional manner. Executive's resignation as the President of the Corporation or from any other office for which he receives no compensation, or the Corporation's removal or termination of Executive from any such position, shall have no effect on this Agreement or the parties' obligations hereunder.  

3.    Payment Upon a Change of Control

In the event of a Change of Control and provided no payment has been made under Section 4, and provided that the Executive is employed by the Corporation immediately prior to such Change of Control, then the Executive shall be entitled, in his sole discretion, to receive the Outstanding Retention Payment by providing written notice to the Corporation of his election to receive such payment at any time within 30 days of such event.  The Corporation covenants and agrees to use its commercially reasonable efforts to provide the Executive with written notice of a Change of Control.

For the purposes of this Agreement, a "Change of Control" means: 

(a)    any "person" (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act")) becomes the "beneficial owner" (as defined in Rule 13d-3 promulgated under the Exchange Act), directly or indirectly, of securities of the Corporation representing fifty (50%) percent or more of (i) the outstanding shares of common stock of the Corporation, or (ii) the combined voting power of the Corporation’s outstanding securities;

(b)    the Corporation is party to a merger or consolidation, or series of related transactions, which results in the voting securities of the Corporation outstanding immediately prior thereto failing to continue to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity), directly or indirectly, at least fifty (50%) percent of the combined voting power of the voting securities of the Corporation or such surviving entity outstanding immediately after such merger or consolidation; or

(c)    the sale or disposition of all or substantially all of the Corporation’s assets, or consummation of any transaction, or series of related transactions, having similar effect (other than to a subsidiary of the Corporation).

4.    Accelerated Payment

If, prior to a Change of Control, Executive (a) becomes unable to provide services to the Corporation, either due to prolonged sickness, permanent disability or death, or (b) the Corporation terminates the Executive without Cause (as defined below), or the Executive resigns his employment for Good Reason (as defined below), then the Executive shall be entitled to receive the Outstanding  Retention Payment.

For purposes of this Agreement, "Good Reason" shall mean:

		
	a)
	any act, set of facts or omissions with respect to the Executive that would, as a matter of applicable law, constitute a constructive termination of the Executive;

		
	b)
	a change in the Executive’s position with the Corporation which results in a material diminution of the Executive’s authority, duties, or responsibilities;

		
	c)
	a reduction by the Corporation in the annual rate of the Executive’s base salary or, if applicable, target bonus opportunity, and in the event of a Change of Control (as defined below), as compared to Executive’s base salary and target bonus opportunity in effect immediately prior to the public announcement of the Change of Control;

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	d)
	the failure of the Corporation (i) to continue to provide the Executive an opportunity to participate in any benefit or compensation plans provided to employees who hold positions with the Corporation comparable to the Executive’s position, (ii) to provide the Executive all other fringe benefits (or the equivalent) in effect for the benefit of any employee group which includes any employee who hold a position with the Corporation comparable to the Executive’s position, where in the event of a Change of Control, such comparison shall be made relative to the time immediately prior to the public announcement of such Change of Control); or (iii) continue to provide director’s and officers’ insurance;

		
	e)
	a change in the location of Executive's principal office to a different place that is more than twenty-five miles from the Executive's principal office immediately prior to such change;

		
	f)
	a restriction or prohibition on Executive’s participation in outside activities that have historically been permitted, such as third-party board, committee, panel, or association membership; or

		
	g)
	the Corporation's material breach of this Agreement, including, in the event of a Change of Control, failure of the Corporation to obtain the consent of a successor to perform all of the obligations of the Corporation under this Agreement.

For purposes of this Agreement, "Cause" shall mean:

		
	a)
	the Executive willfully failed to follow the lawful written directions of the Board of Directors of the Corporation or Executive’s immediate superior; provided that no termination for such Cause shall occur unless the Executive: (i) has been provided with notice, specifying such willful failure in reasonable detail, of the Corporation’s intention to terminate the Executive for Cause; and (ii) has failed to cure or correct such willful failure within thirty (30) days of receiving such notice;

		
	b)
	the Executive engaged in gross misconduct, or gross incompetence which is materially detrimental to the Corporation; provided that no termination for such Cause shall occur unless the Executive: (i) has been provided with notice, specifying such gross misconduct or gross incompetence in reasonable detail, of the Corporation’s intention to terminate the Executive for Cause; and (ii) has failed to cure or correct such gross misconduct within thirty (30) days of receiving such notice;

		
	c)
	the Executive willfully failed to comply in any material respect  with the Corporation's policies where non-compliance would be materially detrimental to the Corporation; provided that no termination for such Cause shall occur unless the Executive: (i) has been provided with notice of the Corporation’s intention to terminate the Executive for such Cause, and (ii) has failed to cure or correct such willful failure within thirty (30) days of receiving such notice, provided that such notice and cure period requirements shall not apply in the event that such non-compliance is of a nature that it is unable to be remedied; or 

		
	d)
	the Executive is convicted of a felony or crime involving moral turpitude (excluding drunk driving unless combined with other aggravating circumstances or offenses) or commission of a fraud which the Corporation reasonably believes would reflect adversely on the Corporation.

		
	5.
	Miscellaneous

5.1    This Agreement shall be binding upon any successor (whether direct or indirect, by purchase, merger, amalgamation, business reorganization or otherwise) to all or substantially all of the business and/or assets of the Corporation.  No transaction shall be completed unless such successor shall have executed and delivered an agreement whereby such successor expressly assumes the obligations of the Corporation under this Agreement, but no such agreement shall be necessary to making this Agreement binding upon such successors.

5.2    This Agreement shall enure to the benefit of and be enforceable by the Executive’s successors, assigns, heirs, legal personal representatives, executors and administrators.  If the Executive should die while any amount would still be payable to the Executive hereunder if the Executive had continued to live, all such amounts shall be paid in accordance with the terms of this Agreement to the Executive’s estate or such other person as may be properly appointed by the Executive for this purpose.

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5.3    Any notice or other communication required or permitted pursuant to the terms of this Agreement shall be in writing and shall be deemed to have been duly given and received when actually delivered or when mailed postage prepaid and registered with return receipt requested and received or when transmitted by facsimile (if provided) provided that the transmitter has received confirmation of the successful completion thereof, if to the Corporation addressed as follows:

Sphere 3D Corp.
895 Don Mills Road
Bldg. 2, Suite 900
Toronto, Ontario
M3C 1W3

Attention:    Chief Executive Officer

And if to the Executive addressed as follows:

Joseph O’Daniel

Or to such other address as the intended recipient may have theretofore furnished to the sender in writing in accordance herewith.  Any notice given hereunder shall state in reasonable detail the factual basis underlying such notice.

5.4    Except as expressly provided elsewhere in this Agreement, no provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by the Executive and such officer of the Corporation as may be specifically designated by the Board.  No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.  

5.5    The laws of the State of Texas shall govern all matters arising out of or relating to this Agreement including, without limitation, its validity, interpretation, construction, and performance but without giving effect to the conflict of laws principles that may require the application of the laws of another jurisdiction.  ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE BROUGHT IN THE COURTS OF THE STATE OF TEXAS LOCATED IN ELLIS COUNTY, TEXAS OR THE FEDERAL COURTS FOR THE NORTHERN DISTRICT OF TEXAS, DALLAS DIVISION.  EACH PARTY HERETO IRREVOCABLY SUBMITS AND AGREES TO THE EXCLUSIVE JURISDICTION OF SUCH COURTS FOR THE RESOLUTION OF ALL CLAIMS, CONTROVERSIES, DISPUTES, AND CAUSES OF ACTION ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY AND EXPRESSLY WAIVES ALL OBJECTIONS THEY HAVE NOW OR MAY HAVE TO VENUE, WHETHER BASED ON INCONVENIENCE OR ANY OTHER REASON.

5.5    The validity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. 

5.6    The section headings herein are for convenience only and shall not limit the scope or affect of any provision hereof.

5.7    Unless otherwise specified, all references to amounts of money in this Agreement refer to the lawful currency of the United States of America.

[Signature page to follow]

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IN WITNESS WHEREOF this Agreement has been executed by the parties hereto.

SPHERE 3D CORP.

By:    /s/ Peter Tassiopoulos            
Peter Tassiopoulos
Chief Executive Officer

                                

SIGNED, SEALED & DELIVERED        )
)
)
)
/s/ Shailan Topiwala                )    /s/ Joseph O’Daniel            
Witness                        )    Joseph O’DanielASSET
PURCHASE AGREEMENT

 

This
Asset Purchase Agreement (this “Agreement”), dated as of September 27, 2019, is entered into by and between GBT
TECHNOLOGIES INC., a Nevada corporation (“Seller”), whose principal address is 2500 Broadway, Suite F-125, Santa
Monica, CA 90404, and Surge Holdings, Inc., a Nevada corporation (“Buyer”),
whose principal address is 3124 Brother Blvd, Suite 104, Bartlett, TN 38133.

 

RECITALS

 

WHEREAS,
Seller wishes to sell and assign to Buyer, and Buyer wishes to purchase and assume from Seller, substantially all the assets (including
or even in specific intellectual properties that “form” a software), and certain specified liabilities, of its ECS
Prepaid business, Electronic Check Services business, and the Central State Legal Services business (collectively the “Business”),
subject to the terms and conditions set forth herein. The purchase and sale of the assets and all related transactions are referred
to herein as the “Transaction”.

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.
Purchase and Sale of Assets. Subject to the terms and conditions of this Agreement, Seller agrees to sell, transfer, assign and
deliver to Buyer, and Buyer agrees to purchase, acquire and take assignment and delivery of the properties and assets (the “Assets”),
as more particularly described on Exhibit “A”, attached hereto and incorporated herein by this reference:

 

(a)
Inventory. All of the inventory of the Seller used or consumed by Seller in the operation of the Business, wherever located, including
all finished goods, work in process, raw materials, spare parts and all other materials and supplies to be used or consumed by
Seller in the production of finished goods in the operation of the Business, (collectively, the “Inventory”).

 

(b)
Contracts. All of the rights, titles, interests and benefits accruing to Seller under those rental, sales, supply, purchase order,
service, sign, maintenance, equipment, any and all telephone and other contracts or leases relating to the Business, all of Seller’s
rights accruing under any so-called Non-Compete Agreements in favor of Seller in relation to the Business, and any other contracts
or leases relating to the operation of the Business (“Contracts”);

 

(c)
Licenses and Permits. Any and all transferable consents, authorizations, variances or waivers, licenses, permits, registrations,
certificates, approvals and similar rights from any governmental or quasi-governmental agency, department, board, commission,
bureau or other entity or instrumentality with respect to the Business (collectively, the “Licenses”) held by or granted
to Seller;

 

(d)
Intangible Assets. All of Seller’s goodwill associated with the Business, including the telephone number, domain name and
web page, if any, customer lists, employee lists, supplier lists, and prospect lists associated with the Business, all trademarks,
service marks and their associated goodwill, trade secrets and confidential information, to the extent transferable (collectively
the “Intangible Assets”).

 

(e)
All Intellectual Properties which include codes and keys that compile a software which allow “processing” prepaid
platform of ACH funds from merchant bank account to providers of the purchased service (“IP”).

 

    	 	 	 

    	 

    

 

2.
Purchase Price; Payment; Assumed Liabilities; Allocations.

 

(a)
Purchase Price; Payment and Other Consideration. The purchase price for the Assets shall be FIVE MILLION DOLLARS ($5,000,000.00)
(the “Purchase Price”). Payment of the Purchase Price shall be made as follows:

 

At
Closing, Buyer shall transfer THREE MILLION THREE HOUNDRED THIRTY-THREE THOUSAND THREE HUNDRED THIRTY THREE (3,333,333) shares
of Buyer’s common stock and execute a convertible promissory note in favor of the Seller in the amount of FOUR MILLION
and 00/100 DOLLARs ($4,000,000.00) (the “Note”), convertible into Buyer’s shares of common stock, $0.001
par value per share (the “Common Stock”), upon the terms and subject to the limitations and conditions set forth in
the Note;

 

(b)
Assumption of Liabilities. At Closing, in addition to payment of the Purchase Price, Buyer shall assume and agree to pay, discharge,
and perform the following, and only the following and no other, obligations and liabilities of Seller (the “Assumed Liabilities”):

 

Seller’s
liabilities incurred after the “Effective Date” (hereafter defined) by Buyer pursuant to the Contracts, but only to
the extent such obligations and liabilities accrue and arise after the Effective Date and are not caused by or related to any
action or inaction by Sellers, or any other party occurring prior to the Effective Date.

 

Except
for the specific Assumed Liabilities as defined above, Buyer shall not assume, pay or otherwise be liable for any other obligations,
liabilities or debts of Seller of any nature whatsoever.

 

(c)
Retained Liabilities. The “Retained Liabilities” as set forth in this section (d) shall remain the sole responsibility
of and shall be retained, paid, performed and discharged solely by Seller. “Retained Liabilities” shall mean every
obligation and liability of Seller other than the Assumed Liabilities, including, without limitation:

 

A.
any obligation or liability of any nature whatsoever arising out of or relating to products sold or distributed by Seller to the
extent manufactured, sold, or distributed sold prior to the Effective Date;

 

B.
any obligation or liability of any nature whatsoever under any Contract that arises after the Effective Date but that arises out
of or relates to any breach that occurred prior to the Effective Date;

 

C.
any obligation or liability of any nature whatsoever for taxes, fees, or assessments of any nature, whether deferred or not, (A)
arising as a result of Seller’s operation of its Business or ownership of the Assets prior to the Effective Date, or (B)
that will arise as a result of the sale of the Assets pursuant to this Agreement;

 

D.
any obligation or liability of any nature whatsoever under any employee benefit plans of Seller or relating to payroll, vacation,
sick leave, workers’ compensation, unemployment benefits, pension benefits, employee stock option or profit-sharing plans,
health care plans or benefits or any other employee plans or benefits of any kind for Seller’s employees or former employees
or both;

 

E.
any obligation or liability of any nature whatsoever under any employment, severance, retention or termination agreement with
any employee of Seller;

 

F.
any obligation or liability of any nature whatsoever arising out of or relating to any employee grievance whether or not the affected
employees are hired by Buyer;

 

G.
any obligation or liability of any nature whatsoever arising out of any litigation, action, arbitration, audit, hearing, investigation,
or suit pending as of the Effective Date;

 

H.
any obligation or liability of any nature whatsoever arising out of any litigation, action, arbitration, audit, hearing, investigation,
or suit involving Seller’s operation of the Business or ownership of the Assets commenced after the Effective Date and arising
out of or relating to any occurrence or event happening prior to the Effective Date;

 

I.
any obligation or liability of any nature whatsoever arising out of or resulting from Seller’s compliance or noncompliance
with any legal requirement or order of any governmental body;

 

J.
any obligation or liability of any nature whatsoever of Seller under this Agreement or any other document executed in connection
herewith and

 

    	 	 	 

    	 

    

 

K.
any obligation or liability of any nature whatsoever of Seller based upon Seller’s acts or omissions occurring after the
Effective Date.

 

(d)
Closing Date. The consummation of the transaction contemplated under this Agreement (herein referred to as the “Closing”)
shall occur on or before September 27, 2019 (the “Closing Date”); provided, however, that the Parties may mutually
agree to extend the Closing Date. Notwithstanding anything to the contrary contained herein, the Closing shall be effective as
of 11:59 PM on the Closing Date (the “Effective Date”).

 

(e)
Preparation of Closing Documents. Counsel for Buyer shall prepare the documents to be executed and delivered at the Closing (the
“Closing Documents”), including the Bill of Sale (as hereinafter defined), and other Assignments (as hereinafter defined),
all of which must be satisfactory to Seller and its legal counsel.

 

3.
Delivery of Documents.

 

(a)
Seller’s Deliveries. At Closing, upon payment of the Purchase Price by Buyer, Seller shall deliver to Buyer the following:

 

A.
such good and sufficient instruments of sale, conveyance, transfer and assignment as shall be required or as may be appropriate
to effectively vest in Buyer good title to the Assets, free and clear of all liens, security interests and encumbrances of whatever
nature, properly executed and acknowledged, including a limited warranty bill of sale (the “Bill of Sale”), and assignment
and assumption instruments (the “Assignments”);

 

B.
copies of the resolutions by the board of directors of Seller approving the Transaction, together with a certificate of good standing
from Buyer’s jurisdiction of organization;

 

C.
physical possession of all Assets including all records, keys and items of entry to the Business and the Assets;

 

D.
all required or necessary consents, waivers and approvals with respect to the Contracts, and assignment thereof, in such form
as is satisfactory to Buyer and its counsel;

 

E.
such other instruments and documents as may be reasonably required by Buyer or its counsel as to the performance of all covenants
and satisfaction of all conditions required of Seller, or as to any other matter required or necessitated by this Agreement, including
evidence reasonably satisfactory to Buyer that the person(s) executing the Closing Documents for Seller has full right, power
and authority to do so; and

 

(b)
Buyer’s Deliveries. At Closing, Buyer shall deliver to Seller, as applicable:

 

A.
the fully executed promissory note in favor of the Seller;

 

B.
copies of the resolutions by of the board of directors of Buyer approving the Transaction, together with a certificate of good
standing from Buyer’s jurisdiction of organization;

 

C.
such other instruments and documents as may be reasonably required by Seller or their counsel as to the performance of all covenants
and satisfaction of all conditions required of Buyer, or as to any other matter required or necessitated by this Agreement, including
evidence reasonably satisfactory to Seller that the person(s) executing the Closing Documents for Buyer has full right, power
and authority to do so;

 

4.
Warranties and Representations.

 

(a)
Warranties and Representations to Buyer. As an inducement to Buyer entering into this Agreement, Seller hereby covenants, represents
and warrants to Buyer as follows:

 

A.
Good Standing. Seller is a duly organized and validly existing corporation and is in good standing under the laws of the State
of Nevada.

 

    	 	 	 

    	 

    

 

B.
Authority. Seller has all requisite power and authority to execute and deliver this Agreement and to perform its obligations hereunder,
and the execution, delivery and performance of this Agreement by Seller does not and will not violate any provisions of Seller’s
governing corporate instruments, or any order, judgment or award of any court or administrative agency or any contract to which
Seller is a party or require the consent of any third party, or violate any law or governmental or regulatory rule or regulation.

 

C.
Authorization and Execution. This Agreement has been duly authorized by all necessary action on the part of Seller, has been duly
executed and delivered by Seller, constitutes the valid and binding agreement of Seller and is enforceable in accordance with
its terms. The person executing this Agreement on behalf of Seller has the authority to do so.

 

D.
Ownership and Condition of Assets, Status of Contracts. (A) Seller possesses all licenses and required governmental or official
approvals, permits or authorizations necessary for the operation of the Business; and (B) with respect to the Contracts, each
is in full force and effect, there have been no material defaults or breaches of same, no assignment of rights in or relating
to same have been made, and to the best of Seller’s knowledge no event has occurred which would cause a material breach
or default under same.

 

E.
Sufficiency of Assets. The Assets (a) constitute all of the material assets necessary to operate the Business in substantially
the manner presently operated by Seller and (b) include all of the material operating assets of the Business.

 

F.
Warranty of Title. Seller is the lawful owner of the Assets, and has the full right, power, and authority to sell, transfer and
convey the Assets to Buyer and that the Assets are not subject to any liens, claims, security interests, encumbrances, taxes,
or assessments, however described or denominated.

 

G.
Actions or Proceedings. There is no action, suit or proceeding pending against Seller or known to Seller to be threatened against
or affecting the Business in any court, before any arbitrator or before or by any governmental authority. Seller has not been
cited, fined, held liable or in violation of, or otherwise received notification of any asserted past or present failure or alleged
failure to comply with any federal, state or local laws, and is not aware of any action or occurrence which would give rise to
a violation with regard to the Business.

 

H.
Payment of Taxes. Seller has paid in full all applicable sales, occupancy, ad valorem, employment and other applicable taxes relating
to the ownership and operation of all Business or otherwise relating to the Assets, except for accrued taxes not yet due.

 

I.
Brokers; Finders. Buyer shall not be obligated to pay any broker or finder in connection with the Transaction.

 

J.
No Material Adverse Change. Since the date of the most recent Quarterly Report on Form 10-Q filed by the Seller, there has not
been any material adverse change in the business, operations, prospects, assets, results of operations or condition (financial
or other) of Seller, and no event has occurred or circumstance exists that may result in such a material adverse change.

 

K.
Independent Evaluation. Seller conducted its own independent evaluation, made its own analysis and consulted with
advisors (including legal, accounting, and tax advisors) as it has deemed necessary, prudent or advisable in order for Seller
to make its own determination and decision to enter into the transactions contemplated by this Agreement and to execute and deliver
this Agreement.

 

(b)
Buyer’s Warranties and Representations. Buyer covenants, warrants and represents as follows:

 

A.
Good Standing. Buyer is a duly organized and validly existing corporation and is in good standing under the laws of the State
of Nevada.

 

B.
Authority. Buyer has all requisite power and authority to execute and deliver this Agreement and to perform the obligations of
Buyer hereunder. The execution, delivery and performance of this Agreement by Buyer does not and will not violate any provisions
of Buyer’s governing corporate instruments, or any order, judgment or award of any court or administrative agency or any
contract to which Buyer is a party or, except as otherwise acknowledged herein, require the consent of any third party, or to
Buyer’s knowledge, violate any law or governmental or regulatory rule or regulation.

 

    	 	 	 

    	 

    

 

C.
Authorization and Execution. This Agreement has been duly authorized by all necessary action on the part of Buyer, has been duly
executed and delivered by Buyer, constitutes the valid and binding agreement of Buyer and is enforceable in accordance with its
terms. The person executing this Agreement on behalf of Buyer has the authority to do so.

 

D.
Brokers; Finders. Seller has no obligation to pay any broker or finder in connection with the Transaction.

 

(c)
Effect of Representations and Warranties. The foregoing representations of the parties hereto set forth in this Section are true,
and the foregoing warranties and covenants are in full force and effect and binding on same, as of the date hereof, and shall
be in full force and effect and deemed to have been automatically reaffirmed and restated by the parties hereto in their entirety
as of the date and time of Closing.

 

5.
Further Acts. In addition to the acts and deeds stated herein and contemplated to be performed, executed and delivered by the
respective parties hereto, each of the parties hereto agrees to perform, execute and deliver or cause to be performed, executed
and delivered at Closing and after Closing any and all such further acts, deeds and assurances as may be reasonably necessary
to consummate the Transaction.

 

6.
Confidentiality; Publicity. Except as may be required by law or regulation, no party hereto or their respective affiliates, employees,
agents or representatives shall disclose to any third party the subject matter or terms of this Agreement without the prior written
consent of the other parties; provided however, that any party may discuss the same with its legal counsel and other engaged professionals.
No press release or other public announcement related to this Agreement or the transaction contemplated hereby will be issued
by any party without the prior written approval of the Seller and Buyer. Buyer and Seller understand that within four (4) business
days of the Closing, Buyer is obligated by regulation to file a Current Report on Form 8-K with the Securities and Exchange Commission
e along with copies of all agreements with Seller and their respective exhibits.

 

7.
Survival. All representations, warranties, covenants and agreements set forth in this Agreement shall survive the Closing of the
Transaction indefinitely.

 

8.
Notices. All notices permitted or required to be given hereunder shall be in writing and sent by registered or certified mail,
return receipt requested, postage prepaid, by overnight courier (such as Federal Express) or hand delivered, addressed as follows:

 

	To
    Seller:	GBT
    Technologies Inc.
	 	2500
    Broadway, Suite F-125
	 	Santa
    Monica, CA 90404
	 	Attention:
    Douglas Davis
	 	 
	With
    Copy to:
	 	 
	To
    Buyer:	Surge
    Holdings, Inc.
	 	3124
    Brother Blvd, Suite 104
	 	Bartlett,
    TN 38133
	 	Attention:
    Kevin Brian Cox

 

	With
    Copy to:	Lucosky
    Brookman LLP
	 	101
    Wood Avenue South, 5th Floor
	 	Woodbridge,
    NJ 08830
	 	Attention:
    Joseph Lucosky, Esq.

 

    	 	 	 

    	 

    

 

Any
party may designate a different address from time to time by notice given in accordance with the provisions of this paragraph.
Any such notice shall be deemed given on the date of delivery.

 

9.
Miscellaneous. This Agreement shall be construed and interpreted under the laws of the State of Nevada. Seller and Buyer hereby
irrevocably submit in any suit, action or proceeding arising out of or related to this Agreement or to the Transaction contemplated
hereby or thereby to the exclusive jurisdiction and venue of any state or federal court having jurisdiction over Clark County,
Nevada and waive any and all objections to jurisdiction and venue that they may have under the laws of the State of Nevada or
the United States and any claim or objection that any such court is an inconvenient forum. If any provision of this Agreement
or the application thereof to any person or circumstance shall be invalid or unenforceable to any extent, the remainder of this
Agreement or other affected document, and the application of such provisions to other persons or circumstances shall not be affected
thereby and shall be enforced to the greatest extent permitted by law. This Agreement shall inure to the benefit of and be binding
upon the parties hereto and their respective heirs, executors, legal representatives, successors and permitted assigns, whether
voluntary by act of the parties or involuntary by operation of law, as the case may be. This Agreement is solely for the benefit
of the parties hereto and their respective successors and permitted assigns. There shall be no third party beneficiaries hereof,
intended or otherwise. Neither Party may assign this Agreement without the written consent of the other party, provided, however,
Buyer may assign this Agreement to a wholly owned subsidiary. In the event of such assignment by Buyer it shall remain obligated
and liable under the terms and conditions of this Agreement. The titles of sections and subsections herein have been inserted
as a matter of convenience of reference only and shall not control or affect the meaning or construction of any of the terms or
provisions herein. All references herein to the singular shall include the plural, and vice versa. Should any provision of this
Agreement require interpretation in any judicial, administrative or other proceeding or circumstance, it is agreed that the court,
administrative body, or other entity interpreting or construing the same shall not apply a presumption that the terms hereof shall
be more strictly construed against one party by reason of the rule of construction that a document is to be construed more strictly
against the party who by itself or through its agents prepared the same, it being agreed that the agents of both parties hereto
have fully participated in the preparation of this Agreement. Except as otherwise expressly provided herein, all rights, powers,
and privileges conferred hereunder upon the parties hereto shall be cumulative and in addition to those other rights, powers,
and remedies hereunder and those available at law or in equity. All such rights, powers, and remedies may be exercised separately
or at once, and no exercise of any right, power, or remedy shall be construed to be an election of remedies or shall preclude
the future exercise of any or all other rights, powers, and remedies granted hereunder or available at law or in equity, except
as expressly provided herein. Buyer shall have no right of assignment of this agreement without the express written permission
of Seller. Neither the failure of either party to exercise any power given such party hereunder or to insist upon strict compliance
by the other party with its obligations hereunder, nor any custom or practice of the parties at variance with the terms hereof
shall constitute a waiver of either party’s right to demand exact compliance with the terms hereof. No amendment to this
Agreement shall be binding on any of the parties hereto unless such amendment is in writing and is executed by the party against
whom enforcement of such amendment is sought. Time is of the essence with respect to each and every covenant, agreement, and obligation
of the parties hereto. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and
all of which shall constitute one agreement, and the signatures of any party to any counterpart shall be deemed to be a signature
to, and may be appended to, any other counterpart. This Agreement constitutes the entire agreement of the parties with respect
to the subject matter contained herein and supersedes and/or revokes any prior agreements not included within this Agreement,
including prior drafts of documents, prior proposals, counterproposals and correspondence, whether written or oral. As used in
this Agreement, the term “including” will always be deemed to mean “including, without limitation”.

 

[SIGNATURES
BEGIN ON NEXT PAGE]

 

    	 	 	 

    	 

    

 

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

 

	 	BUYER:
	 	 
	 	Surge
    Holdings, Inc., a Nevada corporation
	 	 	 
	 	By:
    	 
	 	Name:
    	Kevin
    Brian Cox
	 	Title:
    	Chief
    Executive Officer
	 	 	 
	 	SELLER:
	 	 
	 	GBT
    TECHNOLOGIES INC., a Nevada corporation
	 	 	 
	 	By:
    	 
	 	Name:
    	Douglas
    Davis
	 	Title:
    	Chief
    Executive Officer

 

    	 	 	 

    	 

    

 

EXHIBIT
A

 

GBT
TECHNOLOGIES INC.

 

ASSETS
RELATED TO THE ECS PREPAID BUSINESS

 

	OFFICE
    COMPUTER EQUIPMENT – SERVERS	POS
    TERMINALS
	 	 
	Cisco
    1900 series switch	158
    Verifone POS terminals (570 – 3750) in field
	 	 
	Cisco
    ASA Firewall	13
    Verifone POS terminals (570 – 3750) in inventory
	 	 
	Cisco
    ASA Firewall	PROCESSING
    SOFTWARE PROGRAM
	 	 
	Cisco
    ASA Firewall – Redundant Pair	Platform
    managing software program
	 	 
	Cisco
    Managed Switch	 
	 	 
	Cisco
    Managed Switch – Redundant Pair	 
	 	 
	ECS-LB1
    – Loadbalancer	 
	 	 
	ECS-LB2
    – Loadbalancer	 
	 	 
	ECS
    test	 
	 	 
	ECS
    – Utility Server	 
	 	 
	ECS
    – Backup – Data/Backup Storage	 
	 	 
	ECS
    – Main – Domain Server	 
	 	 
	ECS
    – wwwl – APT Server	 
	 	 
	ECS
    – www2 – Web Server	 
	 	 
	ECS
    – www3 – Web Server	 
	 	 
	ECS
    – www4 – API Server	 
	 	 
	ECS
    – www5 – Web Server	 
	 	 
	ECS
    – www6 – Web Server	 
	 	 
	ECS
    - sp5 – Primary DB – ECS Prepaid	 
	 	 
	ECS
    – spl - Backup DB – ECS Prepaid	 
	 	 
	ECS
    – sp4 – Backup DB – ECS Prepaid	 

 

    	 	 	 

    	 

    

 

ASSETS
RELATED TO THE ELECTRONIC CHECK SERVICES BUSINESS

 

	OFFICE
    COMPUTER EQUIPMENT – SERVERS	POS
    CHECK SCANNERS – MICR READERS
	 	 
	Debian
    – master – Primary DB	50
    RDM Scanners
	 	 
	Debian2
    – Backup DB	11
    RDM Scanners in inventory
	 	 
	ECS
    – db3 – Backup DB	12
    Magteck Micr Readers
	 	 
	IP
    Server1 – Process Checks	PROCESSING
    SOFTWARE PROGRAM
	 	 
	IP
    Server2 – Process Checks	ACH
    software processing program

 

ASSETS
RELATED TO THE CENTRAL STATE LEGAL SERVICES BUSINESS

 

COLLECTION
SOFTWARE PROGRAM

 

Computerized
Legal Collection Software Program

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00301-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00301-of-00352.parquet"}]]