Document:

CONSULTING
AGREEMENT 

 

This
Consulting Agreement (the “Agreement”), effective as of February 1, 2019, is entered into by and between YayYo,
Inc. (the “Company”) and Ramy El-Batrawi (the “Consultant”).

 

RECITALS

 

WHEREAS
the Company desires to engage the services of the Consultant to assist the Company’s CEO in the performance of its duties;
and

 

WHEREAS
the Consultant agrees to be retained for the foregoing purposes, subject to the terms and conditions provided in this Agreement.

 

NOW
THEREFORE, in consideration of the premises and of the mutual covenants and agreements hereinafter set forth, the parties
hereto covenant and agree as follows:

 

1.
Term of Consultancy. The Company hereby agrees to retain the Consultant to act in a non-exclusive consulting capacity to
the Company, and the Consultant hereby agrees to provide services to the Company from the period (the “Term”) commencing
on February 1, 2019 and ending on the date this Agreement is terminated pursuant to Section 8 hereof (the “Termination
Date”).

 

2.
Duties of the Consultant. The Consultant agrees that it will provide the following specified consulting services:

 

a.
Assist the Company’s CEO with management and overall determination and execution of the Company’s business plan
for the purpose of achieving operational and financial success of the Company;

 

b.
Assist the Company’s CEO who is the ultimate general manager of the Company with the fulfillment of the
Company’s contractual obligations, achievement of its corporate mission, and achievement of its fiscal goals;
and

 

c.
Assist the Company’s CEO with fulfillment of the aforementioned responsibilities and other duties that may be
requested of by the Company’s CEO.

 

3. Execution
of Agreements. The Consultant is not an officer or executive of the Company and cannot bind the Company to any agreement,
understanding or arrangement with any third-party and shall not execute any contract or other document on the
Company’s behalf.

 

4. Remuneration.
As full and complete compensation for services described in this Agreement, the Company shall compensate the Consultant with
$20,000.00 monthly.

 

5. Assignability
of Services. The Consultant’s services under this Agreement are offered to the Company, but Consultant shall use
its best efforts to ensure that such services shall apply to any public entity with which the Company merges or
which acquires the Company or substantially all of its assets.

 

6. Expenses.
The Company shall pay the Consultant for all Consultant’s expenses (travel required by/or specifically requested by the
Company, luncheons or dinners to large groups of investment professionals,) approved by the Company prior to Consultant
incurring an obligation for reimbursement. The Consultant shall provide appropriate written documentation for any
such expenses as reasonably requested by the Company.

 

    	 	1	 

    	 

    

 

7. Indemnification.
The Company warrants and represents that all oral communications, written documents or materials furnished to the Consultant
by the Company with respect to financial affairs, operations, profitability and strategic planning of the Company are
accurate at the time such information was prepared and the Consultant may rely upon the accuracy thereof without
independent investigation. The Company will protect, indemnify and hold harmless the Consultant against any claims or
litigation including any damages, liability, cost and reasonable attorney’s fees as incurred with respect thereto
resulting from the Consultant’s communication or dissemination of any said information, documents or materials
excluding any such claims or litigation resulting from the Consultant’s communication or dissemination of information
not provided or authorized by the Company.

 

8. Representations.
The Consultant represents, warrants and covenants to the Company that the Consultant shall at all times comply with any and
all applicable federal, state, local or foreign laws, including securities laws, rules and regulations of any court,
government or unit or agency thereof in its performance hereunder.

 

9. Termination.
The Company or the Consultant may terminate this Agreement with two weeks written notice at any time by sending notice
thereof to the other party.

 

10. Status
as Independent Contractor. The Consultant’s engagement pursuant to this Agreement shall be as
independent contractor, and not as an employee, officer or other agent of the Company. Neither party to this Agreement shall
represent or hold itself out to be the employer or employee of the other. The Consultant further acknowledges the
consideration provided hereinabove is a gross amount of consideration and that the Company will not withhold from such
consideration any amounts as to income taxes, social security payments or any other payroll taxes. All such income taxes and
other such payment shall be made or provided for by the Consultant and the Company shall have no responsibility or duties
regarding such matters. The Consultant does not possess the authority to bind the Company in any agreements without the
express written consent of the Company.

 

11. Attorney’s
Fees. If any legal action or any arbitration or other proceeding is brought for the enforcement or interpretation of
this Agreement, or because of an alleged dispute, breach, default or misrepresentation in connection with or related to this
Agreement, the successful or prevailing party shall be entitled to recover reasonable attorneys’ fees and other costs
in connection with that action or proceeding, in addition to any other relief to which it or they may be entitled. Such fees
shall be due and payable without regard to whether an arbitration or other legal action is instituted by
the Consultant.

 

12. Waiver.
The waiver by either party of a breach of any provision of this Agreement by the other party shall not operate or be
construed as a waiver of any subsequent breach by such other party.

 

13. Choice
of Law, Jurisdiction and Venue. This Agreement shall be governed by, construed and enforced in accordance with the laws
of the State of New York. The parties agree that New York County, New York will be the venue of any dispute and will
have jurisdiction over all parties.

 

14. Complete
Agreement. This Agreement contains the entire agreement of the parties relating to the subject matter hereof. This
Agreement and its terms may not be changed orally but only by an agreement in writing signed by the party against whom
enforcement of any waiver, change, modification, extension or discharge is sought.

 

15. Severability.
If any provision of this Agreement shall be held or deemed to be, or shall in fact be, inoperative or unenforceable as
applied in any particular case because it conflicts with any other provision or provisions hereof, or any other provision
or provisions hereof, or any constitution or statute or rule of public policy, or for any other reason, such circumstances
shall not have the effect of rendering the provision in question inoperative or unenforceable to any extent whatsoever. The
invalidity of any one or more phrases, sentences, clauses, sections or subsections of this Agreement shall not affect the
remaining portions of this Agreement.

  

[SIGNATURE
PAGE FOLLOWS]

 

    	 	2	 

    	 

    

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered as of the day and year first above
written.

 

	YAYYO, INC.

	 
	 	 	 
	By:	/s/Jon Rosen 	 
	Name:	Jon Rosen	 
	Title:	Chief Executive Officer	 
	 	 	 
	/s/
    Ramy El-Batrawi	 
	Ramy
El-Batrawi	 

 

    	 	3awsm-ex41_6.htm

Exhibit 4.1

FIRST AMENDMENT TO

UNSECURED CONVERTIBLE NOTE

 

 THIS FIRST AMENDMENT TO UNSECURED CONVERTIBLE NOTE (this “Amendment”) is made as of the 2nd day of October, 2019, by and between GT CAPITAL INC. (the “Holder”) and COOL HOLDINGS, INC., a Maryland corporation (the “Borrower”). Any capitalized term used in this Amendment, but not otherwise defined herein, shall have the meaning ascribed to it in the Note (as defined below).

 

R E C I T A L S:

 

WHEREAS, the Holder and the Borrower entered into an Unsecured Convertible Note, dated as of November 29, 2018 (the “Note”), pursuant to which the Holder extended to the Borrower a loan in the principal amount of Five Hundred Thousand and No/100 Dollars ($500,000.00); and 

 

WHEREAS, the Holder and the Borrower have agreed to amend the Note to change the definition of “Conversion Price” and to add an automatic conversion feature. 

 

NOW, THEREFORE, in consideration of the foregoing recitals and the promises and mutual covenants hereinafter set forth, the parties hereto agree as follows:

 

1.Amendments to Note. 

As of the Effective Date (as defined below), Section 3(a) of the Note is hereby amended and restated in its entirety and shall read as follows: 

 

“The principal and unpaid accrued interest of this Note will be automatically converted into Equity Securities on the Effective Date. The number of Equity Securities to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest due on this Note on the date of conversion, by the Conversion Price “Conversion Price” shall mean $1.40 and the “Effective Date” shall mean the date the Note is approved by the board of directors of the Borrower and all required approvals of NASDAQ have been obtained.”

 

2.Representations and Warranties.  The Holder represents and warrants as follows: 

 

(a) It is the holder of the Note, and has the right to enter into this Amendment without the consent of any third party. 

 

(b)It has sought its own legal and tax advice with respect to the Note and this Amendment.

3.Effectiveness of Amendment.  This amendment in this Amendment shall become effective on the date (the “Effective Date”) on which: 

 

(a) this Amendment has been approved by the board of directors of the Borrower; and 

 

(b) all required approvals of NASDAQ for the Amendment have been obtained.

4.No Other Modification.  Except as expressly provided and amended hereby, the Note shall remain in full force and effect and is hereby ratified and confirmed.

5.Governing Law.  This Amendment shall be governed and construed under the laws of the State of New York, without giving effect to the principles of conflicts of law thereof.  

6.Headings.  Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.

7.Execution in Counterparts.  This Amendment may be executed in any number of counterparts, including by electronic signature or electronic transmission, each of which when so executed and delivered shall be deemed to be an original and all or which taken together shall constitute one and the same instrument.  

 

 

IN WITNESS WHEREOF, the parties have executed and delivered this Amendment on the date first written above by their duly authorized officers.

 

 

		
	
BORROWER:
	
COOL HOLDINGS, INC.

 

 

By:          /s/ Vernon A. LoForti         

Name:  Vernon A. LoForti

Title:    Senior VP & CFO

 

 

	
HOLDER:
	
GT CAPITAL INC.

 

 

By:       /s/ Andrea DeFrancesco

Name:  Andrea DeFrancesco

Title:    President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00300-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00300-of-00352.parquet"}]]