Document:

Exhibit 10.6

PLEDGE AGREEMENT

THIS PLEDGE AGREEMENT (the “Pledge
Agreement”) is entered into as of SEPTEMBER 19, 2013, by and between PATRICK BERTAGNA, an individual with
an address at 117 West 9th Street, Los Angeles, California 90015 (“Pledgor”), GTX CORP. (“Company”),
and 112359 FACTOR FUND, LLC (“Secured Party”). Capitalized terms used herein and not otherwise defined
herein shall have the respective meanings set forth in that certain Security Agreement entered into on even date herewith by and
between Company and Secured Party.

WHEREAS, Secured
Party is the holder of those certain secured convertible debentures issued by the Company on even date herewith (the “Obligations”);

WHEREAS, the
Secured Party has extended financial accommodations to the Company and Pledgor, pursuant to the Obligations and otherwise, Pledgor
will directly benefit from such financial accommodations, and Pledgor acknowledges that without this Pledge Agreement, the Secured
Party would not be willing to purchase the Obligations from the Company and enter into the other transaction documents in connection
therewith (together with the Obligations, the “Transaction Documents”); and,

WHEREAS, Pledgor
desires to provide and the Secured Party desires to accept the pledge of assets by Pledgor on the terms and conditions seet forth
herein.

NOW, THEREFORE,
in consideration of the mutual promises and covenants contained herein, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

1.                  
Pledge

To secure the due and punctual payment
and performance of Company’s obligations under the Obligations, Pledgor hereby pledges, hypothecates, assigns, transfers
and delivers unto the Secured Party, and hereby grants to the Secured Party a security interest in the following:

(a)                
the shares of stock listed in Exhibit A attached hereto (the “Pledged
Securities”) and the certificates representing or evidencing the Pledged Securities, and all cash, securities, interest,
dividends, rights and other property at any time and form time to time received, receivable or otherwise distributed in respect
of or in exchange for any or all of the Pledged Securities;

(b)                
all other property hereafter delivered to the Secured Party in substitution for or in addition
to any of the foregoing, all certificates and instruments representing or evidencing such other property and all cash, securities,
interest, dividends, rights and other property at any time and from time to time received, receivable or otherwise distributed
in respect of or in exchange for any or all thereof; and 

(c)                
all proceeds of all of the foregoing (all such Pledged Securities, additional shares, certificates,
instruments, cash, securities, interest, dividends, rights and other property being collectively called the “Collateral”);

to have and to hold such Collateral,
together with all rights, titles, interests, privileges and preferences pertaining or incident thereto, unto the Secured Party,
its successors and assigns, subject, however, to the terms and conditions hereafter set forth.

2.                  
Representations and Warranties

The Pledgor and the Company represent
and warrant as follows:

(a)                
The Pledgor owns all of the Pledged Securities, free and clear of any liens, encumbrance,
charge or security interest of any nature whatsoever, other than the security interest granted hereunder.

(b)                
All shares of stock included in the Pledged Securities are duly authorized and validly issued,
fully paid, non-assessable and subject to no options to purchase or similar rights of any person or entity. 

(c)                
Pledgor and Company are not and will not become a party to or otherwise bound by any agreement,
other than this Pledge Agreement, which restricts in any manner the rights of any present or future holder of any of the Pledged
Securities with respect thereto.

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(d)                
This Pledge Agreement has been duly executed and delivered by the Pledgor and the Company
and constitutes a valid and binding obligation of each of the Pledgor and the Company. 

(e)                
Upon delivery of the Pledged Securities to the Secured Party hereunder, the Secured Party
will have valid and perfected security interests in the Collateral subject to no prior lien. No registration, recordation or filing
with any governmental body, agency or official is required in connection with the execution or delivery of this Pledge Agreement,
or necessary for the validity or enforceability hereof or for the perfection of the security interest granted herein. The execution,
delivery performance and enforcement of this Pledge Agreement does not and will not contravene, or constitute a default under any
provision of applicable law or regulation or of any agreement, judgment, injunction, order decree or other instrument binding upon
the Company or result in the creation or imposition of any lien (other than the security interests granted herein) upon any asset
of the Company.

3.Delivery of Pledged Securities

(a)Pledgor shall
deliver the Pledged Securities at the Closing to the Secured Party or an entity agreed by Secured Party and Pledgor under the Transaction
Documents shall be in suitable form for transfer by delivery, or shall be accompanied by duly executed instruments of transfer
or assignment in blank, with signatures appropriately guaranteed, and accompanied in each case by any required transfer tax stamps,
all in form and substance reasonably satisfactory to Secured Party.

(b)The Secured
Party hereby agrees that it shall not in any way pledge, hypothecate, sell, assign, or in any way transfer the Pledged Securities
until and unless an event of default occurs under the Transaction Documents.

4.Filing; Further Assurances

The Pledgor and the Company will, at
Secured Party’s expense and in such manner and form as the Secured Party may reasonably require, execute, deliver, file and
record any financing statement, specific assignment or other paper and take any other action that may reasonably be necessary or
desirable, or that the Secured Party may reasonably request, in order to create, preserve, perfect or validate any security interest
or to enable the Secured Party to exercise and enforce its rights hereunder with respect to any of the Collateral. To the extent
permitted by applicable law, the Company hereby authorizes the Secured Party to execute and file, in the name of the Company or
otherwise, Uniform Commercial Code financing statements which the Secured Party in its sole discretion may deem necessary or appropriate
to further perfect the security interest granted herein.

5.                  
Default

A default of this Agreement shall occur
upon the breach of any provision hereof or upon the occurrence of any Default Event under the Obligations. Upon the occurrence
of a default, the Secured Party may exercise from time to time any rights and remedies available to it under the Uniform Commercial
Code as in effect in New Jersey or otherwise available to it, including, but not limited to, sale, assignment or other disposal
of any or all of the Pledged Securities in exchange for cash or credit. Except during the continuance of any Default Event, Pledgor
may exercise any and all voting and other consensual rights pertaining to all Pledged Securities. The Secured Party agrees its
rights hereunder shall be limited to the extent that its rights to acquire ownership of any Pledged Securities shall be limited
to the extent that such acquisition would result in the Secured Party, together with any affiliate thereof, beneficially owning
(as determined in accordance with Section 13(d) of the Exchange Act and the rules promulgated thereunder) in excess of 4.99% of
the then issued and outstanding shares of Company Common Stock, subject to the Secured Party’s right to waive this limit
with 65 days notice.

6.Termination; Return of Pledged
Securities

Upon the repayment in full of all obligations
under the Obligations, this Pledge Agreement shall terminate and all rights to the Collateral shall revert to the Pledgor. Upon
any such termination, the Secured Party will execute and deliver to the Company such documents as the Company shall reasonably
request to evidence such termination or the release of the Collateral. Notwithstanding the foregoing, the Pledged Securities shall
be released according the following schedule: 50% of the Pledged Securities shall be released upon repayment by the Company of
50% of the amounts due under the First Debenture and the Third Debenture; 25% of the Pledged Securities shall be released upon
repayment by the Company of 75% of the amounts due under the First Debenture and the Third Debenture, and the remainder of the
Pledged Securities shall be released upon full repayment of the First Debenture and the Third Debenture.

 

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7.                  
Notices

Any notices, consents, waivers or other
communications required or permitted to be given under the terms hereof must be in writing and will be deemed to have been delivered:
(i) upon receipt, when delivered personally; (ii) upon receipt, when sent by facsimile (provided confirmation of transmission is
mechanically or electronically generated and kept on file by the sending party); or (iii) one (1) trading day after deposit with
a nationally recognized overnight delivery service, in each case properly addressed to the party to receive the same, or at such
other address and/or facsimile number and/or to the attention of such other person as the recipient party has specified by written
notice given to each other party three (3) trading days prior to the effectiveness of such change. Written confirmation of receipt
(A) given by the recipient of such notice, consent, waiver or other communication, (B) mechanically or electronically generated
by the sender’s facsimile machine containing the time, date, recipient facsimile number and an image of the first page of
such transmission or (C) provided by a nationally recognized overnight delivery service, shall be rebuttable evidence of personal
service, receipt by facsimile or receipt from a nationally recognized overnight delivery service in accordance with clause (i),
(ii) or (iii) above, respectively.

8.                  
General Provisions

(a)                
Entire Agreement; Modifications; Waiver. This Pledge Agreement and the balance of the
Transaction Documents constitute the entire agreement between the parties pertaining to the subject matter contained in it, except
for any other agreements referenced herein. This Pledge Agreement supersedes all prior and contemporaneous agreements (other than
those entered into in writing simultaneously with this Pledge Agreement), representations, and understandings of the parties. No
supplement, modification, or amendment of this Pledge Agreement shall be binding unless executed in writing by all the parties.
No waiver of any of the provisions of this Pledge Agreement shall be deemed, or shall constitute, a waiver of any other provisions,
whether or not similar, nor shall any waiver constitute a continuing waiver. No waiver shall be binding unless executed in writing
by the party making the waiver.

(b)                
Counterparts. This Pledge Agreement may be executed in one or more counterparts, each
of which shall be deemed an original, but all of which together shall constitute one and the same instruments. Facsimile execution
shall be deemed originals.

(c)                
Severability. Each term, covenant, condition or provision of this Pledge Agreement
shall be viewed as separated and distinct, and in the event that any such term, covenant, condition or provision shall be held
by a court of competent jurisdiction to be invalid, the remaining provisions shall continue in full force and effect.

(d)                
Necessary Acts. Each party to this Pledge Agreement agrees to perform any further acts
and execute and deliver any further documents that may be reasonably necessary to carry out the provisions of this

(e)                
Stop Transfer Order. In the event that any type of stop transfer order is given to
the Company’s transfer agent regarding the Pledged Securities and, as a result thereof, Secured Party is unable to sell any
portion of the Pledged Securities, the parties acknowledge that Secured Party will incur substantial damages as a result thereof,
and the Company agrees to pay liquidated damages to Secured Party in an amount equal to the then-current outstanding balance due
to Secured Party under the Obligations at the time of any such stop transfer order. Any such liquidated damages shall be in addition
to all other obligations of the Company and the Pledgor under the Transaction Documents.

(f)                 
Time of Essence. Time is of the essence in the performance of all obligations under
this Pledge Agreement. 

(g)                
Governing Law. This Guaranty shall be governed by and interpreted in accordance with
the laws of the State of New Jersey without regard to the principles of conflict of laws. The parties further agree that any action
between them shall be heard in Bergen County, New Jersey, and expressly consent to the jurisdiction and venue of the Superior Court
of New Jersey, sitting in Bergen County and the United States District Court for the District of New Jersey sitting in Newark,
New Jersey for the adjudication of any civil action asserted pursuant to this Paragraph.

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IN WITNESS WHEREOF the parties have executed this
Pledge Agreement effective as of the day and year first above written.

 

	 	SECURED PARTY:
	 	112359 FACTOR FUND, LLC
	 	 
	 	 
	 	By:/s/ Mary Carroll
	 	Name:Mary Carroll
	 	Title:Manager
	 	 
	GTX CORP.	 
	 	 
	 	 
	By:/s/ Patrick Bertagna	 
	Name: Patrick Bertagna	 
	Title:Chief Executive Officer	 
	 	 
	PATRICK BERTAGNA	 
	 	 
	 	 
	By:/s/ Patrick Bertagna	 
	Patrick Bertagna	 
		 
	 	 
	 	 
	 	 

 

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EXHIBIT A 

THE PLEDGED SECURITIES

		1.	2,500  shares of Company common stock issued on  12/9/2008
 (certificate number:  522 ).

		2.	175,000  shares of Company common stock issued on  2/27/2009
 (certificate number:  549 ).

		3.	297,628  shares of Company common stock issued on  2/18/2010
 (certificate number:  629 ).

		4.	400,000  shares of Company common stock issued on  2/18/2010
 (certificate number:  630 ).

		5.	400,000  shares of Company common stock issued on  2/18/2010
 (certificate number:  631 ).

		6.	400,000  shares of Company common stock issued on  2/18/2010
 (certificate number:  632 ).

		7.	400,000  shares of Company common stock issued on  2/18/2010
 (certificate number:  633 ).

		8.	400,000  shares of Company common stock issued on  2/18/2010
 (certificate number:  634 ).

		9.	150,000  shares of Company common stock issued on  3/24/2010
 (certificate number:  641 ).

		10.	250,000  shares of Company common stock issued on  7/15/2010
 (certificate number:  674 ).

		11.	250,000  shares of Company common stock issued on  1/25/2011
 (certificate number:  705 ).

		12.	509,000  shares of Company common stock issued on  4/1/2011
 (certificate number:  727 ).

		13.	1,200,000  shares of Company common stock issued on  6/22/2011
 (certificate number:  754 ).

		14.	15,000  shares of Company common stock issued on  12/23/2011
 (certificate number:  798 ).

		15.	931,250  shares of Company common stock issued on  4/10/2012
 (certificate number:  832 ).

		16.	200,000  shares of Company common stock issued on  6/22/2012
 (certificate number:  849 ).

		17.	1,000,000  shares of Company common stock issued on  10/02/2012
 (certificate number:  862 ).

		18.	200,000  shares of Company common stock issued on  2/11/2013
 (certificate number:  874 ).

		19.	500,000  shares of Company common stock issued on  3/28/2013
 (certificate number:  884 ).

		20.	250,000  shares of Company common stock issued on  4/16/2013
 (certificate number:  894 ).

		21.	5,250,000  shares of Company common stock issued on  9/17/2013
 (certificate number:  906 ).

13,180,378
total Pledged SecuritiesExhibit 10.1 to 8-K 9-23-2013

Exhibit 10.1

ELLINGTON RESIDENTIAL MORTGAGE REIT

Share Award Agreement

THIS SHARE AWARD AGREEMENT (the “Agreement”), dated as of the __ day of ________, 2013, governs the Share Award granted by Ellington Residential Mortgage REIT, a Maryland real estate investment trust (the “Company”), to _________________________ (the “Participant”), in accordance with and subject to the provisions of the Company's 2013 Equity Incentive Plan (the “Plan”).  A copy of the Plan has been made available to the Participant.  All terms used in this Agreement that are defined in the Plan have the same meaning given them in the Plan.

1.    Grant of Share Award.  In accordance with the Plan, and effective as of _________ __, 2013 (the “Date of Grant”), the Company granted to the Participant, subject to the terms and conditions of the Plan and this Agreement, a Share Award of ________ Common Shares (the “Share Award”).

2.    Vesting.  The Participant's interest in the Common Shares covered by the Share Award shall become vested and nonforfeitable to the extent provided in paragraphs (a), (b) and (c) below.

(a)    Continued Service on Board.  The Participant's interest in all of the Common Shares covered by the Share Award shall become vested and nonforfeitable on April 30, 2014 if the Participant serves continuously as a member of the Board from the Date of Grant until such date.  The Participant's interest in all of the Common Shares covered by the Share Award (if not sooner vested) shall become vested and nonforfeitable on the last day of the term of the Participant's membership on the Board if (i) the Participant serves continuously as a member of the Board from the Date of Grant until the last day of such term and (ii) either (x) the Participant is not nominated for election to the Board for an additional term beginning immediately after the expiration of such term or (y) is nominated but is not elected for an additional term beginning immediately after the expiration of such term.  

(b)    Change in Control.  The Participant's interest in all of the Common Shares covered by the Share Award (if not sooner vested), shall become vested and nonforfeitable on a Control Change Date if the Participant serves continuously as a member of the Board from the Date of Grant until the Control Change Date.

(c)    Death or Disability.  The Participant's interest in all of the Common Shares covered by the Share Award (if not sooner vested), shall become vested and nonforfeitable on the date that the Participant's service as a member of the Board ends if (i) the Participant's service on the Board ends on account of the Participant's death or permanent and total disability (as defined in Code section 22(e)(3)) and (ii) the Participant serves continuously as a member of the Board from the Date of Grant until the date of such cessation of Board service.

Except as provided in this Section 2, any Common Shares covered by the Share Award that are not vested and nonforfeitable on or before the date that the Participant's service on the Board ends shall be forfeited on the date that such service terminates.

3.    Transferability.  Common Shares covered by the Share Award that have not become vested and nonforfeitable as provided in Section 2 cannot be transferred.  Common Shares covered by the Share Award may be transferred, subject to the requirements of applicable securities laws, after they become vested and nonforfeitable as provided in Section 2.

4.    Shareholder Rights.  On and after the Date of Grant and prior to their forfeiture, the Participant shall have all of the rights of a shareholder of the Company with respect to the Common Shares covered by the Share Award, including the right to vote the shares and to receive, free of all restrictions, all dividends declared and paid on the shares.  Notwithstanding the preceding sentence, the Company shall retain custody of any certificates evidencing the Common Shares covered by the Share Award until the date that the Common Shares become vested and nonforfeitable and the Participant hereby appoints the Company's Secretary as the Participant's attorney in fact, with full power of substitution, with the power to transfer to the Company and cancel any Common Shares covered by the Share Award that are forfeited under Section 2.

5.    No Right to Continued Service.  The grant of the Share Award does not give the Participant any rights with respect to continuing to serve on the Board.

6.    Governing Law.  This Agreement shall be governed by the laws of the State of Maryland except to the extent that Maryland law would require the application of the laws of another State.

7.    Conflicts.  In the event of any conflict between the provisions of the Plan as in effect on the Date of Grant and this Agreement, the provisions of the Plan shall govern.  All references herein to the Plan shall mean the Plan as in effect on the Date of Grant.

8.    Participant Bound by Plan.  The Participant hereby acknowledges that a copy of the Plan has been made available to the Participant and the Participant agrees to be bound by all the terms and provisions of the Plan.

9.    Binding Effect.  Subject to the limitations stated above and in the Plan, this Agreement shall be binding upon the Participant and his or her successors in interest and the Company and any successors of the Company.

[signature page follows]

IN WITNESS WHEREOF, the Company and the Participant have executed this Agreement as of the date first set forth above.

ELLINGTON RESIDENTIAL MORTGAGE REIT        [NAME OF PARTICIPANT]

By:__________________________                _________________________

Title:_________________________

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