Document:

Exhibit 10.5

 

FIRST AMENDMENT TO

RETENTION BONUS AGREEMENT

AND NOTICE OF ELECTION

 

THIS FIRST AMENDMENT TO RETENTION BONUS
AGREEMENT AND NOTICE OF ELECTION (the “Amendment and Election”) is made and entered into as of January 31, 2012, by
and between Lenco Mobile Inc., a Delaware corporation (“Lenco”), iLoop Mobile, Inc., a Delaware corporation (“iLoop”),
and ______________________, an individual (“Recipient”). Lenco and iLoop are sometimes collectively referred to herein
as the “Company.”

RECITALS

WHEREAS, the parties previously entered
into that certain Retention Bonus Agreement in connection with the business combination among Lenco, iLoop and a wholly owned subsidiary
of Lenco (the “Agreement”);

WHEREAS, the parties now desire to amend
the Agreement to reflect certain revised terms thereto; and

WHEREAS, Recipient wishes to make an
election with respect to certain compensation to become due to him under the Agreement.

NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

1.Section 3.3 of the Agreement is
hereby amended and restated in its entirety as follows:

“3.3 Failure to Make Timely Payment. If Company
fails to make timely payment of any amount due under Section 3.2, then in addition to any remedies Recipient may have under this
Agreement or at law, simple interest shall accrue on such unpaid amount at 6% per annum beginning on the payment due date of such
amount and ending when paid in full. Interest shall be paid to the Recipient quarterly.”

2.Pursuant to Section 3.4.2 of the
Agreement, Recipient hereby elects to subscribe for a number of shares of Lenco’s Series A Convertible Preferred Stock (the
“Shares”) having a value, as of the date of this Amendment and Election, equal to the aggregate amount of payables
set forth in Section 3.2.4 of the Agreement. Upon issuance of the Shares, the corresponding amount of payables set forth in Section
3.2.4 will be cancelled. The Shares shall be issued concurrently with the execution of this Amendment and Election, and shall be
subject to the following terms and conditions:

(a)Restriction on Transfer.
In addition to any other limitation on transfer created by applicable securities laws, Recipient shall not assign, encumber or
dispose of any interest in the Shares while the Shares are subject to the Company’s Forfeiture Right (as defined below),
except in compliance with the provisions below. After any Shares have been released from the Forfeiture Right, Recipient shall
not assign, encumber or dispose of any interest in such Shares except in compliance with applicable securities laws.

    	 

    	 

    

 

(b)Forfeiture Right.

(i)In the event of the voluntary
or involuntary termination of Recipient’s service as an employee of the Company for any reason (including death or disability),
the Company shall upon the date of such termination (the “Termination Date”) have an irrevocable, exclusive right (the
“Forfeiture Right”) to require forfeiture of the Shares held by Recipient as of the Termination Date for which the
Forfeiture Right has not expired.

(ii)The Forfeiture Right shall be
exercised by the Company by written notice at any time following the Termination Date to Recipient or Recipient’s executor.
Upon delivery of such notice, the Shares shall become authorized but unissued capital stock of Lenco, without further action by
Recipient.

(iii)All of the Shares shall initially
be subject to the Forfeiture Right. All of the Shares shall be released from the Forfeiture Right on the date that is one (1) year
after the date of the Agreement.

(c)Assignment and Transfer.
The Forfeiture Right may be assigned by the Company in whole or in part. Until the Shares have been released from the Company’s
Forfeiture Right, the Shares may not be transferred, assigned, pledged or hypothecated in any manner (whether by operation of law
or otherwise) other than by will, by the applicable laws of descent and distribution or pursuant to any qualified domestic relations
order, and shall not be subject to execution, attachment or similar process without the prior written consent of the Company. Any
attempt to transfer, assign, pledge, hypothecate or otherwise dispose of the Shares or of any right or privilege conferred by this
Amendment and Election contrary to the provisions of this Amendment and Election or upon the sale or levy or any attachment or
similar process upon the rights and privileges conferred by this Amendment and Election, shall be null and void.

(d)Restrictions Binding on Transferees.
All transferees of Shares or any interest therein will receive and hold such Shares or interest subject to the provisions of this
Amendment and Election, including, insofar as applicable, the Forfeiture Right.

(e)Upon the release of the Shares from
the Forfeiture Right, Recipient may, at his sole discretion, (i) elect to pay all U.S. federal income taxes resulting from such
release or (ii) require Lenco or iLoop to pay directly to the U.S. Internal Revenue Service (to the extent they are not already
required to do so) an amount equal to any U.S. federal income taxes resulting from such release. In the case of alternative (ii),
Lenco or iLoop shall withhold that number of Shares with a fair market value (as determined in good faith by the relevant Board
of Directors) equivalent to the amount of such taxes.

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IN WITNESS WHEREOF, the parties hereto
have caused this First Amendment to Retention Bonus Agreement and Notice of Election to be executed, effective as of the date first
written above.

 

	 	Lenco Mobile Inc.	 
	 	 	 	 
	 	By: 	 	 
	 	Name:	Michael Levinsohn	 
	 	Title: 	Chairman	 

 

 

	 	iLoop Mobile, Inc.	 
	 	 	 	 
	 	By: 	 	 
	 	Name:	Matthew Harris	 
	 	Title: 	Chief Executive Officer 	 

 

 

	 	Recipient	 
	 	 	 	 
	 	By: 	 	 
	 	 	 	 
	 	: 	 	 

 

 

    	3Exhibit 10.6

 

SECURITIES PURCHASE AGREEMENT

THIS SECURITIES PURCHASE
AGREEMENT is made as of December 27, 2012, by and among Lenco Mobile Inc. (the “Company”), a corporation
organized under the laws of the State of Delaware, with its principal offices at 2025 First Avenue, Suite 320, Seattle, WA 98121
the purchaser whose name and address is set forth on the signature page hereof (the “Purchaser”).

IN CONSIDERATION of
the mutual covenants contained in this Agreement, the Company and the Purchaser agree as follows:

1.             Authorization of Sale of the Shares. Subject to the terms and conditions of this Agreement, the Company has authorized
the sale of up to 100,000 shares (the “Shares”) of Series A Convertible Preferred Stock, par value $0.001
per share, of the Company having the rights, preferences and privileges set forth in the Series A Convertible Preferred Stock certificate
of designation (which was filed with the Delaware Secretary of State on September 22, 2010) (the “Certificate of Designation”)
and the certificate of amendment to the Certificate of Designation (which was filed with the Delaware Secretary of State on December
23, 2011) (the “Certificate of Amendment”), each of which are attached hereto as Exhibit A.

Agreement to Sell
and Purchase the Shares. At the Closing (as defined in Section 2.1), the Company will sell to the Purchaser, and the Purchaser
will buy from the Company, upon the terms and conditions hereinafter set forth, the number of Shares (at the purchase price) shown
below.

	
        

        Number of Shares

        to Be Purchased
	 	
        

        Price Per Share

        In Dollars
	 	
        

        Aggregate

        Price

	 	 	$ 	 	$
	 	 	 	 	 

The Company proposes
to enter into this same form of purchase agreement with certain other investors (the “Other Purchasers”)
and expects to complete sales of the Shares to them. The Purchaser and the Other Purchasers are hereinafter sometimes collectively
referred to as the “Purchasers,” and this Agreement and the agreements executed by the Other Purchasers
are hereinafter sometimes collectively referred to as the “Agreements.”

2.             Closing and Delivery of the Shares.

2.1             
Closing. The initial purchase and sale of the Shares shall occur (the “Closing”) as soon
as practicable after the execution of the Agreements by the Company and the Purchasers purchasing Shares at the Closing at the
time and date (the “Closing Date”) and at such location as shall be determined by the Company. The Company
will promptly notify the Purchasers purchasing Shares at the Closing of the date, place and time of the Closing by facsimile transmission
or otherwise.

    	 

    	 

    

 

2.2             
Delivery of the Shares. At the Closing, the Company shall deliver to the Purchaser (or to its designated representative)
one or more stock certificates registered in the name of the Purchaser, or in such nominee name(s) as designated by the Purchaser
in writing, representing the number of Shares set forth in Section 0 above and bearing the legend specified in Section 4.7
hereof referring to the fact that the Shares were sold in reliance upon the exemption from registration under the Securities Act
of 1933, as amended (the “Securities Act”) provided by Section 4(2) thereof and Rule 506 thereunder.
The name(s) in which the stock certificates are to be registered are set forth in the Stock Certificate Questionnaire attached
hereto as Exhibit B.

2.3             
Conditions to Closing.

   2.3.1       
The Company’s obligation to complete the purchase and sale of the Shares and deliver such stock certificate(s) 
to the Purchaser at the Closing shall be subject to the following conditions, any one or more of which may be waived by the Company:
(i) receipt by the Company of same-day funds in the full amount of the purchase price for the Shares being purchased hereunder;
(ii) completion of the purchases and sales under the Agreements with all of the Other Purchasers; and (iii) the accuracy
of the representations and warranties made by the Purchaser and the fulfillment of those undertakings of the Purchaser to be fulfilled
prior to the Closing; and (iv) receipt by the Company of a completed version of Exhibit B and Exhibit C-1
or C-2 (as applicable) attached hereto.

   2.3.2       
The Purchaser’s obligation to accept delivery of such stock certificate(s)  and to pay for the Shares evidenced
thereby shall be subject to the following conditions: (i) the accuracy in all material respects of the representations and
warranties made by the Company herein and the fulfillment in all material respects of those undertakings of the Company to be fulfilled
prior to Closing, and (ii) receipt of a certificate signed by the Secretary of the Company to which is attached a true, complete
and correct copy of each of the amended and restated certificate of incorporation of the Company, the amended and restated bylaws
of the Company and certain resolutions of the Board of Directors of the Company, to the effect that: (1) no document with
respect to any amendment to the certificate of incorporation of the Company has been filed in the office of the Delaware Secretary
of State since, and no action has been taken or, to the best knowledge of the Secretary of the Company, is contemplated by the
Board of Directors or the stockholders of the Company, for the purpose of effecting any such amendment or the dissolution, merger
or consolidation of the Company, (2) no proposal for any amendment, repeal or other modification to the amended and restated
bylaws of the Company has been taken or is currently pending before the Board of Directors or stockholders of the Company and (3) the
resolutions of the Board of Directors of the Company authorizing the execution, delivery and performance of this Agreement and
the consummation of the transactions contemplated by this Agreement have not been altered, amended or superseded and remain in
full force and effect as of the date hereof and the Closing Date. The Purchaser’s obligations hereunder are expressly not
conditioned on the purchase by any or all of the Other Purchasers of the Shares that they have agreed to purchase from the Company.

3.          Representations, Warranties and Covenants of the Company. Except as otherwise described in the Company’s periodic
reports on Forms 10-Q and 10-K and in the Company’s current reports on Form 8-K as filed by the Company with the Securities
and Exchange Commission (the “SEC”) since December 31, 2010 (the “SEC Documents”)
and the Company’s Private Placement Memorandum dated September 21, 2011 (collectively, with the SEC Documents, including
the documents incorporated by reference therein, the “Company Information”), which qualify the following
representations and warranties in their entirety, the Company hereby represents and warrants to, and covenants with, the Purchaser,
as follows:

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3.1             
Organization and Qualification. The Company is a corporation duly organized, validly existing and in good standing
under the laws of its jurisdiction of incorporation and the Company is qualified to do business as a foreign corporation in each
jurisdiction in which qualification is required, except where failure to so qualify would not have a Material Adverse Effect (as
defined herein) on the Company. All of the subsidiaries of the Company (the “Subsidiaries”) are listed
on Exhibit 21.1 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2011 (the “Form
10-K”) along with each subsidiary’s jurisdiction of incorporation. Each Subsidiary is duly incorporated, validly
existing and in good standing under the laws of its jurisdiction of incorporation and is qualified to do business as a foreign
corporation in each jurisdiction in which qualification is required, except where failure to so qualify would not have a material
adverse effect on the condition (financial or otherwise), assets, properties, business, prospects or results of operations of the
Company and the Subsidiaries, taken as a whole on a consolidated basis, or materially and adversely impair the Company’s
ability to perform its obligations under this Agreement (a “Material Adverse Effect”).

3.2             
Authorized Capital Stock. Except as disclosed in Schedule 4.2 hereto, the Company had authorized, issued and
outstanding capital stock as set forth in Schedule 4.2 as of the date set forth therein. The issued and outstanding shares
of the Company’s common stock, par value $0.001 per share (the “Common Stock”) have been duly authorized
and validly issued, are fully paid and nonassessable, have been issued in compliance with all federal and state securities laws,
and were not issued in violation of or subject to any preemptive rights or other rights to subscribe for or purchase securities.
Except as disclosed in Schedule 4.2, the Company does not have outstanding any options to purchase, or any preemptive rights
or other rights to subscribe for or to purchase, any securities or obligations convertible into or exchangeable or exercisable
for, or any contracts or commitments to issue or sell, shares of its capital stock. Except as set forth on Schedule 4.2 hereto,
and except for customary adjustments as a result of stock dividends, stock splits, combinations of shares, reorganizations, recapitalizations,
reclassifications or other similar events, there are no anti-dilution or price adjustment provisions contained in any security
issued by the Company (or in any agreement providing rights to security holders) and the issuance and sale of Common Stock or other
securities pursuant to any provision of this Agreement will not give rise to any preemptive rights or rights of first refusal,
co-sale rights or any other similar rights on behalf of any person or result in the triggering of any anti-dilution or other similar
rights. With respect to each Subsidiary, (i) the Company owns 100% of the Subsidiary’s capital stock (except for directors’
qualifying shares), (ii) all the issued and outstanding shares of the Subsidiary’s capital stock have been duly authorized
and validly issued, are fully paid and nonassessable, have been issued in compliance with applicable federal and state securities
laws, were not issued in violation of or subject to any preemptive rights or other rights to subscribe for or purchase securities,
and (iii) there are no outstanding options to purchase, or any preemptive rights or other rights to subscribe for or to purchase,
any securities or obligations convertible into, or any contracts or commitments to issue or sell, shares of the Subsidiary’s
capital stock or any such options, rights, convertible securities or obligations.

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3.3             
Issuance, Sale and Delivery of the Shares. The Shares have been duly authorized and, when issued, delivered and paid
for in the manner set forth in this Agreement, will be duly authorized, validly issued, fully paid and nonassessable. No stockholder
of the Company has any right to require the Company to register the sale of any shares owned by such stockholder under the Securities
Act in the Registration Statement. No further approval or authority of the stockholders or the Board of Directors of the Company
will be required for the issuance and sale of the Shares to be sold by the Company as contemplated herein.

3.4             
Due Execution, Delivery and Performance. The Company has full legal right, corporate power and authority to enter
into the Agreements and perform the transactions contemplated hereby and thereby. The Agreements have been duly authorized, executed
and delivered by the Company. The making and performance of the Agreements by the Company and the consummation of the transactions
herein and therein contemplated will not violate any provision of the organizational documents of the Company and will not result
in the creation of any lien, charge, security interest or encumbrance upon any assets of the Company pursuant to the terms or provisions
of, or will not conflict with, result in the breach or violation of, or constitute, either by itself or upon notice or the passage
of time or both, a default under any agreement, mortgage, deed of trust, lease, franchise, license, indenture, permit or other
instrument to which the Company or any Subsidiary is a party or by which the Company or its properties, or any Subsidiary or such
Subsidiary’s properties, may be bound or affected and in each case which would have a Material Adverse Effect or, to the
Company’s knowledge (which, as used herein, in each instance shall mean the actual knowledge of the Company’s chief
executive officer or chief financial officer), any statute or any authorization, judgment, decree, order, rule or regulation of
any court or any regulatory body, administrative agency or other governmental body applicable to the Company or any Subsidiary
or any of their respective properties. No consent, approval, authorization or other order of any court, regulatory body, administrative
agency or other governmental body is required for the execution and delivery of this Agreement or the consummation of the transactions
contemplated by this Agreement, except for compliance with the Blue Sky laws and federal securities laws applicable to the offering
of the Shares. Upon their execution and delivery, and assuming the valid execution thereof by the respective Purchasers, the Agreements
will constitute valid and binding obligations of the Company, enforceable in accordance with their respective terms, except as
enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’
and contracting parties’ rights generally and except as enforceability may be subject to general principles of equity (regardless
of whether such enforceability is considered in a proceeding in equity or at law).

3.5             
Offering Materials. The Company has timely filed all reports, schedules, forms, statements and other documents required
to be filed by it with the SEC since December 31, 2010, pursuant to the reporting requirements of the Securities Exchange
Act of 1934 (the “Exchange Act”). True and complete copies of the SEC Documents have been posted on the
SEC’s EDGAR website. As of their respective dates, the SEC Documents complied in all material respects with the requirements
of the Exchange Act or the Securities Act, as the case may be, and the rules and regulations of the SEC promulgated thereunder
applicable to the SEC Documents. The SEC Documents, taken as a whole, do not contain any untrue statement of a material fact or
omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light
of the circumstances under which they were made, not misleading.

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3.6             
Accountants. Peterson Sullivan LLP are the Company’s independent accountants as reported in the Company’s
Form 8-K filed March 1, 2012 and as required by the Securities Act and the rules and regulations promulgated thereunder (the “Rules
and Regulations”).

3.7             
Contracts. All agreements that were required to be filed as exhibits to the SEC Documents under Item 601 of Regulation
S-K (collectively, the “Material Agreements”) to which the Company or any Subsidiary of the Company is
a party, or the property or assets of the Company or any Subsidiary of the Company are subject, have been filed as exhibits to
the SEC Documents. All Material Agreements are valid and enforceable against the Company or one of its Subsidiaries, as the case
may be, in accordance with their respective terms, except (i) as enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, or moratorium or similar laws affecting creditors’ and contracting parties’ rights generally, and (ii) as
enforceability may be subject to general principles of equity and except as rights to indemnity and contribution may be limited
by state or federal securities laws or public policy underlying such laws. Neither the Company nor any of its Subsidiaries is in
breach of or default under any of the Material Agreements, and to the Company’s knowledge, no other party to a Material Agreement
is in breach of or default under such Material Agreement, except in each case, for such breaches or defaults as would not reasonably
be expected to have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries has received a notice of termination
nor is the Company otherwise aware of any threats to terminate any of the Material Agreements.

3.8             
No Defaults. Except as disclosed in the Company Information as to defaults, violations and breaches which individually
or in the aggregate would not be expected to have a Material Adverse Effect, the Company is not in violation or default of any
provision of its certificate of incorporation or bylaws, or other organizational documents, or in breach of or default with respect
to any provision of any agreement, judgment, decree, order, mortgage, deed of trust, lease, franchise, license, indenture, permit
or other instrument to which it is a party or by which it or any of its properties are bound; and there does not exist any state
of fact which, with notice or lapse of time or both, would constitute an event of default on the part of the Company as defined
in such documents, except such defaults which individually or in the aggregate would not reasonably be expected to have a Material
Adverse Effect.

3.9             
No Actions. There are no legal or governmental actions, suits or proceedings pending or, to the Company’s knowledge,
threatened to which the Company or any Subsidiary is or may be a party or of which property owned or leased by the Company or any
Subsidiary is or may be the subject, or related to environmental or discrimination matters, or instituted by the SEC, The NASDAQ
Stock Market LLC, any state securities commission or other governmental or regulatory agency, which actions, suits or proceedings,
individually or in the aggregate, might prevent or might reasonably be expected to materially and adversely affect the transactions
contemplated by this Agreement or result in a material adverse change in the condition (financial or otherwise), assets, properties,
business, prospects or results of operations of the Company (a “Material Adverse Change”); and no labor
disturbance by the employees of the Company or any Subsidiary exists or, to the Company’s knowledge, is imminent which might
reasonably be expected to have a Material Adverse Effect. Neither the Company nor any Subsidiary is a party to or subject to the
provisions of any material injunction, judgment, decree or order of any court, regulatory body, administrative agency or other
governmental body.

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3.10         
Properties. Each of the Company and its Subsidiaries has good and marketable title to all the properties and assets
reflected as owned by it in the consolidated financial statements included in the SEC Documents, subject to no lien, mortgage,
pledge, charge or encumbrance of any kind except (i) those, if any, reflected in such consolidated financial statements (including
the notes thereto), or (ii) those which are not material in amount and do not adversely affect the use made and proposed to
be made of such property by the Company. Such leased properties are held under valid and binding leases, with such exceptions as
are not materially significant in relation to its business. The Company or a Subsidiary owns or leases all such properties as are
necessary to its operations as now conducted.

3.11         
No Material Change. Since September 30, 2011 and except as contemplated by or disclosed in the Company Information,
neither the Company nor any Subsidiary has incurred any material liabilities or obligations, indirect, or contingent, or entered
into any material verbal or written agreement or other transaction which is not in the ordinary course of business or which could
reasonably be expected to result in a material reduction in the future earnings of the Company; (ii) neither the Company nor
any Subsidiary has sustained any material loss or interference with its respective businesses or properties from fire, flood, windstorm,
accident or other calamity not covered by insurance; (iii) the Company has not paid or declared any dividends or other distributions
with respect to its capital stock and neither the Company nor any Subsidiary is in default in the payment of principal or interest
on any outstanding debt obligations; (iv) there has not been any change in the capital stock of the Company other than the
sale of the Shares hereunder and shares or options issued pursuant to employee equity incentive plans or purchase plans approved
by the Company’s Board of Directors, or indebtedness material to the Company (other than in the ordinary course of business);
and (v) there has not been any Material Adverse Change.

3.12         
Intellectual Property. The Company or a Subsidiary owns or possesses adequate rights to use the inventions, patent
applications, patents, patent rights, trademarks (both registered and unregistered), service marks, tradenames, copyrights, trade
secrets and know-how necessary for the conduct of the Company’s and its Subsidiaries’ businesses as currently conducted
(collectively, the “Intellectual Property”), except where the failure to currently own or possess such
Intellectual Property would not have a Material Adverse Effect. Neither the Company nor any Subsidiary has received any notice
of, and has no knowledge of, any infringement of or conflict with asserted rights of others with respect to any Intellectual Property
which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, could reasonably be expected to
have a Material Adverse Effect. To the Company’s knowledge, none of the patent rights owned or licensed by the Company or
any Subsidiary are unenforceable or invalid.

3.13         
Compliance. The Company has not been advised, and has no reason to believe, that it is not conducting its business
in compliance with all applicable laws, rules and regulations of the jurisdictions in which it is conducting business, including,
without limitation, all applicable local, state and federal environmental laws and regulations; except where failure to be so in
compliance would not have a Material Adverse Effect.

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3.14         
Taxes. The Company has filed all necessary federal, state and foreign income and franchise tax returns and has paid
or accrued all taxes shown as due thereon, and the Company has no knowledge of a tax deficiency which has been or might be asserted
or threatened against it which could have a Material Adverse Effect.

3.15         
Transfer Taxes. On the Closing Date, all stock transfer or other taxes (other than income taxes) which are required
to be paid in connection with the sale and transfer of the Shares to be sold to the Purchaser hereunder will be, or will have been,
fully paid or provided for by the Company and all laws imposing such taxes will be or will have been fully complied with.

3.16         
Accounting Controls. Except as disclosed in the Company Information, the Company maintains a system of accounting
controls sufficient to provide reasonable assurances that (i) transactions are executed in accordance with management’s
general or specific authorization, (ii) transactions are recorded as necessary to permit preparation of financial statements
in conformity with generally accepted accounting principles as applied in the United States and to maintain accountability for
assets, (iii) access to assets is permitted only in accordance with management’s general or specific authorization,
and (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action
is taken with respect to any differences.

3.17         
Investment Company. The Company is not an “investment company” or an “affiliated person”
of, or “promoter” or “principal underwriter” for an investment company, within the meaning of the Investment
Company Act of 1940, as amended.

3.18         
No General Solicitation; Offering Materials. Neither the Company, nor any of its affiliates, nor any person acting
on its or their behalf, has engaged in any form of general solicitation or general advertising (within the meaning of Regulation
D promulgated under the Securities Act) in connection with the offer or sale of the Shares. The Company has not distributed and
will not distribute prior to the Closing Date any offering material in connection with the offering and sale of the Shares other
than the Private Placement Memorandum or any amendment or supplement thereto. The Company has not in the past nor will it hereafter
take any action to sell, offer for sale or solicit offers to buy any securities of the Company which would bring the offer, issuance
or sale of the Shares, as contemplated by this Agreement, within the provisions of Section 5 of the Securities Act, unless
such offer, issuance or sale was or shall be within the exemptions of Section 4 of the Securities Act.

3.19         
Insurance. The Company maintains insurance of the types and in the amounts that the Company reasonably believes is
adequate for its business, including, but not limited to, insurance covering all real and personal property owned or leased by
the Company against theft, damage, destruction, acts of vandalism and all other risks customarily insured against by similarly
situated companies, all of which insurance is in full force and effect.

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3.20         
Corrupt Practices. Neither the Company nor, to the knowledge of the Company, any agent or other person acting on
behalf of the Company, have (i) directly or indirectly, used any corporate funds for unlawful contributions, gifts, entertainment
or other unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment to foreign or
domestic government officials or employees or to foreign or domestic political parties or campaigns from corporate funds, (iii) failed
to disclose fully any contribution made by the Company or made by any person acting on its behalf and of which the Company is aware
in violation of law, or (iv) violated in any material respect any provision of the Foreign Corrupt Practices Act of 1977,
as amended.

3.21         
Transactions with Affiliates. Except as disclosed in the Company Information, none of the officers or directors of
the Company and, to the Company’s knowledge, none of the employees of the Company is presently a party to any transaction
with the Company or any Subsidiary (other than as holders of stock options and/or warrants, and for services as employees, officers
and directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing
for rental of real or personal property to or from, or otherwise requiring payments to or from any officer, director or such employee
or, to the Company’s knowledge, any entity in which any officer, director, or any such employee has a substantial interest
or is an officer, director, trustee or partner.

3.22         
Employee Relations. The Company is not involved in any union labor dispute, nor, to the Company’s knowledge,
is any such dispute threatened. The Company is not a party to a collective bargaining agreement, and the Company believes that
its relations with its employees are good. No executive officer (as defined in Rule 501(1) of the Securities Act) of the Company
has notified the Company that such officer intends to leave the employ of the Company or otherwise terminate such officer’s
employment with the Company. To the Company’s knowledge, no employee of the Company, as a consequence of his employment by
the Company is, or is now expected to be, in violation of any material term of any agreement, covenant or contract (including any
employment contract, confidentiality, disclosure or proprietary information agreement, non-competition agreement, or any other
contract or agreement or any restrictive covenant with any previous employer), and the continued employment of each such employee
by the Company will not subject the Company to any liability with respect to any of the foregoing matters.

3.23         
Application of Takeover Protection. The execution and delivery of this Agreement and the consummation of the transactions
contemplated hereby will not impose any restriction on any Purchaser, or create in any party (including any current stockholder
of the Company) any rights, under any share acquisition, business combination, poison pill (including any distribution under a
rights agreement), or other similar anti-takeover provisions under the Company’s charter documents or the laws of its state
of incorporation.

3.24         
No Integrated or Aggregated Offering. Neither the Company, nor any person acting on its behalf, has, directly or
indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances that would
cause the offering of Shares contemplated by this Agreement to be integrated with prior offerings by the Company for purposes of
the Securities Act.

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4.             Representations, Warranties and Covenants of the Purchaser. The Purchaser hereby represents and warrants to, and
covenants with, the Company, effective as of the Closing Date, as follows:

4.1             
Investment Representations and Covenants. The Purchaser represents and warrants to, and covenants with, the Company
that: (i) the Purchaser is knowledgeable, sophisticated and experienced in making, and is qualified to make, decisions with
respect to investments in securities representing an investment decision like that involved in the purchase of the Shares, including
investments in securities issued by the Company, and has requested, received, reviewed and considered all information it deems
relevant in making an informed decision to purchase the Shares; (ii) the Purchaser is acquiring the number of Shares set forth
in Section 0 above in the ordinary course of its business and for its own account for investment only and with no present intention
of distributing any of such Shares or any arrangement or understanding with any other persons regarding the distribution of such
Shares within the meaning of Section 2(11) of the Securities Act; (iii) the Purchaser will not, directly or indirectly,
offer, sell, pledge, transfer or otherwise dispose of (or solicit any offers to buy, purchase or otherwise acquire or take a pledge
of) any of the Shares except in compliance with the Securities Act and the Rules and Regulations promulgated thereunder; (iv) the
Purchaser has completed or caused to be completed the Stock Certificate Questionnaire attached hereto as Exhibit B and the
Certificate attached hereto as Exhibit C-1 or C-2, as applicable, and the answers thereto are true and correct as of the date
hereof; (v) the Purchaser has, in connection with its decision to purchase the number of Shares set forth in Section 0 above,
relied solely upon the Company Information and the representations and warranties of the Company contained herein; (vi) the
Purchaser understands that neither the Company nor any other person is under any obligation to register the resale of the Shares
under the Securities Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder; and
(vii) the Purchaser is an “accredited investor” within the meaning of Rule 501 of Regulation D promulgated under
the Securities Act.

4.2             
No General Solicitation. The Purchaser is not purchasing the Shares as a result of any advertisement, article, notice
or other communication regarding the Shares published in any newspaper, magazine or similar media or broadcast over the television
or radio or presented at any seminar or any other general solicitation or general advertisement. Prior to the time that the Purchaser
was first contacted by the Company, such Purchaser had a pre-existing and substantial relationship with the Company.

4.3             
Authorization; Validity of Agreement. The Purchaser further represents and warrants to, and covenants with, the Company
that (i) the Purchaser has full right, power, authority and capacity to enter into this Agreement and to consummate the transactions
contemplated hereby and has taken all necessary action to authorize the execution, delivery and performance of this Agreement,
and (ii) upon the execution and delivery of this Agreement, this Agreement shall constitute a valid and binding obligation
of the Purchaser enforceable in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting creditors’ and contracting parties’ rights generally and except
as enforceability may be subject to general principles of equity (regardless of whether such enforceability is considered in a
proceeding in equity or at law).

    	9

    	 

    

4.4             
Requirements of Foreign Jurisdictions. The Purchaser acknowledges, represents and agrees that no action has been
or will be taken in any jurisdiction outside the United States by the Company that would permit an offering of the Shares, or possession
or distribution of offering materials in connection with the issue of the Shares, in any jurisdiction outside the United States
where action for that purpose is required. Each Purchaser outside the United States will comply with all applicable laws and regulations
in each foreign jurisdiction in which it purchases, offers, sells or delivers the Shares or has in its possession or distributes
any offering material, in all cases at its own expense.

4.5             
Restriction on Short Sales and Hedging. Neither the Purchaser, directly or indirectly, nor any person acting on behalf
of or pursuant to any understanding with the Purchaser, has engaged in any transactions in the securities of the Company (including,
without limitation, any Short Sales involving any of the Company’s securities) since the time that such Purchaser was first
contacted by the Company or any other person regarding an investment in the Company. The Purchaser covenants that neither it nor
any person acting on its behalf or pursuant to any understanding with the Purchaser will engage, directly or indirectly, in any
transactions in the securities of the Company (including Short Sales) prior to the time the transactions contemplated by this Agreement
are publicly disclosed. “Short Sales” include, without limitation, all “short sales” as defined
in Rule 200 promulgated under Regulation SHO under the Exchange Act and all types of direct and indirect stock pledges, forward
sale contracts, options, puts, calls, short sales, swaps, derivatives and similar arrangements (including on a total return basis),
and sales and other transactions through non-U.S. broker-dealers or foreign regulated brokers.

4.6             
Compliance with Non-Disclosure Agreement. The Purchaser has fully complied with and has not breached any of its covenants
or representations in any non-disclosure agreement, confidentiality agreement or like agreement (collectively, an “NDA”)
entered into between the Purchaser and the Company or any of the Company’s affiliates. Purchaser acknowledges and agrees
that any such NDA shall continue in full force and effect following the date of this Agreement and the Closing in accordance with
the terms of such NDA.

4.7             
No Legal, Tax or Investment Advice. The Purchaser understands that nothing in this Agreement or any other materials
presented to the Purchaser in connection with the purchase and sale of the Shares constitutes legal, tax or investment advice.
The Purchaser has consulted such legal, tax and investment advisors as it, in its sole discretion, has deemed necessary or appropriate
in connection with its purchase of Shares.

4.8             
Restrictive Legend. The Purchaser understands that the Shares and any shares of Common Stock into which the Shares
are convertible may bear a restrictive legend in substantially the following form (and a stop-transfer order may be placed against
transfer of the certificates for the Shares and shares of Common Stock into which the Shares are convertible):

“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THE SECURITIES MAY NOT BE SOLD, TRANSFERRED
OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER SAID ACT, OR AN OPINION OF COUNSEL OR
OTHER EVIDENCE, IN FORM, SUBSTANCE AND SCOPE REASONABLY ACCEPTABLE TO THE COMPANY AND ITS COUNSEL, THAT REGISTRATION IS NOT REQUIRED
UNDER SAID ACT.” 

    	10

    	 

    

5.                 
Survival of Representations, Warranties and Agreement. Notwithstanding any investigation made by any party to this
Agreement, all covenants, agreements, representations and warranties made by the Company and the Purchaser herein and in the certificates
for the Shares delivered pursuant hereto shall survive the execution of this Agreement, the delivery to the Purchaser of the Shares
being purchased and the payment therefor.

6.                 
Broker’s Fee. Each of the parties hereto hereby represents that, on the basis of any actions and agreements
by it, there are no brokers or finders entitled to compensation in connection with the sale of the Shares to the Purchaser.

7.                 
Notices. All notices, requests, consents and other communications hereunder shall be in writing, shall be mailed
by first-class registered or certified airmail, facsimile (with receipt confirmed by telephone) or nationally recognized overnight
express courier postage prepaid, and shall be deemed given when so mailed and shall be delivered as addressed as follows:

7.1.1       
if to the Company, to:

Lenco Mobile Inc.

2025 First Avenue, Suite 320

Seattle, WA 98121

Attention: CFO

 

With copy to:

Lenco Mobile Inc.

2025 First Avenue, Suite 320

Seattle, WA 98121

Attention: General Counsel

 

or to such other person at such
other place as the Company shall designate to the Purchaser in writing; and

7.1.2       
if to the Purchaser, at its address as set forth on the signature page of this Agreement, or at such other address or addresses
as may have been furnished to the Company in writing.

8.                 
Changes. This Agreement may not be modified or amended except pursuant to an instrument in writing signed by the
Company and Purchaser.

9.                 
Headings. The headings of the various sections of this Agreement have been inserted for convenience of reference
only and shall not be deemed to be part of this Agreement.

    	11

    	 

    

10.             
Severability. In case any provision contained in this Agreement should be invalid, illegal or unenforceable in any
respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected
or impaired thereby.

11.             
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Washington,
without giving effect to the principles of conflicts of laws.

12.             
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall constitute an original,
but all of which, when taken together, shall constitute but one instrument, and shall become effective when one or more counterparts
have been signed by each party hereto and delivered to the other parties.

13.             
Independent Nature of Purchasers’ Obligations and Rights. No Purchaser shall be responsible in any way for
the performance of the obligations of any other Purchaser under the Agreements. Nothing contained herein and no action taken by
any Purchaser pursuant to the Agreements shall be deemed to constitute the Purchasers as a partnership, an association, a joint
venture or any other kind of entity, or create a presumption that the Purchasers are in any way acting in concert or as a group,
or are deemed affiliates (as such term is defined under the Exchange Act) with respect to such obligations or the transactions
contemplated by this Agreement or the other Agreements. Each Purchaser shall be entitled to independently protect and enforce its
rights, including without limitation the rights arising out of the Agreements, and it shall not be necessary for any other Purchaser
to be joined as an additional party in any proceeding for such purpose.

14.             
Fees and Expenses. Except as expressly set forth herein to the contrary, each party shall pay the fees and expenses
of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the
negotiation, preparation, execution, delivery and performance of this Agreement. The Company shall pay all Transfer Agent fees,
stamp taxes and other taxes and duties levied in connection with the sale and issuance of their applicable Shares.

[SIGNATURES FOLLOW ON THE NEXT PAGE]

 

    	12

    	 

    

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be executed by their duly authorized representatives as of the day and year first
above written.

	 	LENCO MOBILE INC.
	 	By:	 
	 	 	Name:  Matthew Harris
	 	 	Title:  Chief Executive Officer

 

 

	Print or Type:	 	 
	 	Name of Purchaser	 
	 	(Individual or Institution):	 
	 	 	 
	 	 	 
	 	Name of Individual representing	 
	 	Purchaser (if an Institution):	 
	 	 	 
	 	 	 
	 	Title of Individual representing	 
	 	Purchaser (if an Institution):	 
	 	 	 
	 	 	 
	 	Signature by:	 
	 	Individual Purchaser or Individual	 
	 	representing Purchaser:	 
	 	 	 
	 	 	 

 

	 	 	 	 
	 	Address:	 	 
	 	

Telephone:	 	 
	 	

Telecopier:	 	 

 

 

    	13

    	 

    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit C-1

 

    	14

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