Document:

Exhibit 10.14

 

PATENT AND
TRADEMARK SECURITY AGREEMENT

 

This PATENT AND TRADEMARK
SECURITY AGREEMENT, dated as of December 27, 2017 (this “Agreement”), is among YayYo, Inc. (the “Company”),
and the Subsidiaries of the Company (as defined below), which Subsidiaries are set forth on Schedule I hereto (such Subsidiaries,
together with the Company, collectively the “Debtors”) and the holder of the Company’s 6% Secured Promissory
Note in the original principal amount of $200,000 (the “Note”), signatory hereto, and its endorsees, transferees
and assigns (collectively, the “Secured Parties”) which Note was sold to the Secured Parties pursuant to a Securities
Purchase Agreement dated on or about the date hereof by and between Bellridge Capital, L.P. and the Company (the “Purchase
Agreement”).

 

WITNESSETH:

 

WHEREAS, in order to induce
the Secured Parties to extend the loan evidenced by the Note and to consummate the transaction contemplated by Purchase Agreement
(the “Transaction”), the Debtors have agreed to execute and deliver to the Secured Parties this Agreement and
to grant the Secured Parties, pari passu with each other Secured Party and through the Agent (as defined in
Section 18 hereof), a security interest in certain property of the Debtors to secure the prompt payment, performance and discharge
in full of all of the Debtors’ obligations under the Note.

 

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

 

1.           Definitions.
All terms that are not otherwise defined herein shall have the meanings given to them in the Security Agreement dated on or about
the date hereof by and among the Debtors and the Secured Parties (the “Security Agreement”). In addition, the
following terms have the meanings set forth below:

 

“Affiliate”
means any Person which, directly or indirectly, owns or controls, on an aggregate basis, a ten (10%) percent or greater interest
in any other Person, or which is controlled by or is under common control with any other Person.

 

“Patents”
means all of the Company’s right, title and interest in and to patents or applications for patents, fees or royalties with
respect to each, and including without limitation the right to sue for past infringement and damages therefor, and licenses thereunder,
all as presently existing or hereafter arising or acquired, including, without limitation, the patents listed on Exhibit A.

 

“Person”
means any individual, sole proprietorship, partnership, joint venture, trust, unincorporated organization, association, corporation,
institution, entity, party or government (whether national, federal, state, county, city, municipal or otherwise including, without
limitation, any instrumentality, division, agency, body or department thereof).

 

“Security
Interest” has the meaning given in Section 2.

 

    	 	 	 

     

    

  

“Subsidiary”
means, with respect to any Person, a corporation, partnership, limited liability company or other entity of which shares of stock
or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power
only by reason of the happening of a contingency) to elect a majority of the board of directors or other managers of such corporation,
partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly
through one or more intermediaries, or both, by such Person and “Subsidiaries” means collectively each and
every Subsidiary of a Person. The signature page hereto of the Debtors lists, in addition to the Company, all Subsidiaries of
the Company.

 

“Trademarks”
means all of the Company’s right, title and interest in and to: (a) trademarks, service marks, collective membership marks,
registrations and applications for registration for each, and the respective goodwill associated with each, (b) licenses, fees
or royalties with respect to each, (c) the right to sue for past, present and future infringement, dilution and damages therefor
and (d) licenses thereunder, all as presently existing or hereafter arising or acquired, including, without limitation, the marks
listed on Exhibit B.

 

2.           Security
Interest. The Company hereby irrevocably pledges and assigns to, and grants the Secured Parties and through the Agent (as
defined in Section 7 hereof) a security interest (the “Security Interest”) with power of sale to the
extent permitted by law, in the Patents and in the Trademarks to secure payment of the Obligations. As set forth in the
Security Agreement, the Security Interest is coupled with a security interest in substantially all of the personal property
of the Company. This Agreement grants only the Security Interest herein described, is not intended to and does not affect any
present transfer of title of any trademark registration or application and makes no assignment and grants no right to assign
or perform any other action with respect to any intent to use trademark application, unless such action is permitted under 15
U.S.C. § 1060.

 

3.           Representations,
Warranties and Agreements. The Company represents, warrants and agrees as follows:

 

(a)          Existence;
Authority. The Company is a corporation duly organized, validly existing and in good standing under the laws of its state
of formation, and this Agreement has been duly and validly authorized by all necessary company action on the part of the Company.

 

(b)          Patents. Exhibit
A accurately lists all Patents owned or controlled by the Company as of the date hereof, or to which the Company has a
right as of the date hereof to have assigned to it, and accurately reflects the existence and status of applications
and letters patent pertaining to the Patents as of the date hereof. If after the date hereof, the Company owns, controls or
has a right to have assigned to it any Patents not listed on Exhibit A, or if Exhibit A ceases to accurately
reflect the existence and status of applications and letters patent pertaining to the Patents, then the Company shall within
60 days provide written notice to the Secured Parties with a replacement Exhibit A, which upon acceptance by the
Secured Parties shall become part of this Agreement.

 

    	 	 	 

     

    

  

(c)          Trademarks.
Exhibit B accurately lists all Trademarks owned or controlled by the Company as of the date hereof and accurately reflects
the existence and status of Trademarks and all applications and registrations pertaining thereto as of the date hereof; provided,
however, that Exhibit B need not list common law marks (i.e., Trademarks for which there are no applications or registrations)
which are not material to Company’s or any Affiliate’s business(es). If after the date hereof, the Company owns or
controls any Trademarks not listed on Exhibit B (other than common law marks which are not material to the Company’s
or any Affiliate’s business(es)), or if Exhibit B ceases to accurately reflect the existence and status of applications
and registrations pertaining to the Trademarks, then the Company shall promptly provide written notice to the Secured Parties
with a replacement Exhibit B, which upon acceptance by the Secured Parties shall become part of this Agreement.

 

(d)          Affiliates.
As of the date hereof, no Affiliate owns, controls, or has a right to have assigned to it any items that would, if such item were
owned by the Company, constitute Patents or Trademarks. If after the date hereof any Affiliate owns, controls, or has a right
to have assigned to it any such items, then Company shall promptly either: (i) cause such Affiliate to assign all of its rights
in such item(s) to Company; or (ii) notify the Secured Parties of such item(s) and cause such Affiliate to execute and deliver
to the Secured Parties a patent and trademark security agreement substantially in the form of this Agreement.

 

(e)          Title.
The Company has absolute title to each Patent and each Trademark listed on Exhibits A and B, free and clear of all
Liens except Permitted Liens (as defined in the Purchase Agreement). The Company (i) will have, at the time that the Company acquires
any rights in Patents or Trademarks hereafter arising, absolute title to each such Patent or Trademark free and clear of all Liens
except Permitted Liens, and (ii) will keep all Patents and Trademarks free and clear of all Liens except Permitted Liens.

 

(f)   
      No Sale. Except as permitted in the Security Agreement, the Company will not
assign, transfer, encumber or otherwise dispose of the Patents or Trademarks, or any interest therein, without the Secured
Parties’ prior written consent.

 

(g)          Defense.
The Company will at its own expense and using commercially reasonable efforts, protect and defend the Patents and Trademarks against
all claims or demands of all Persons other than those holding Permitted Liens.

 

(h)          Maintenance.
The Company will at its own expense maintain the Patents and the Trademarks to the extent reasonably advisable in its business
including, but not limited to, filing all applications to obtain letters patent or trademark registrations and all affidavits,
maintenance fees, annuities, and renewals possible with respect to letters patent, trademark registrations and applications therefor.
The Company covenants that it will not abandon nor fail to pay any maintenance fee or annuity due and payable on any Patent or
Trademark, nor fail to file any required affidavit or renewal in support thereof, without first providing the Secured Parties:
(i) sufficient written notice, of at least 30 days, to allow the Secured Parties to timely pay any such maintenance fees or annuities
which may become due on any Patents or Trademarks, or to file any affidavit or renewal with respect thereto, and (ii) a separate
written power of attorney or other authorization to pay such maintenance fees or annuities, or to file such affidavit or renewal,
should such be necessary or desirable.

 

    	 	 	 

     

    

  

(i)          The
Secured Parties’ Right to Take Action. If the Company fails to perform or observe any of its covenants or agreements
set forth in this Section 3, and if such failure continues for a period of five (5) calendar days after the Secured Parties gives
the Company written notice thereof (or, in the case of the agreements contained in subsection (h), immediately upon the occurrence
of such failure, without notice or lapse of time), or if the Company notifies the Secured Parties that it intends to abandon a
Patent or Trademark, the Secured Parties may (but need not) perform or observe such covenant or agreement or take steps to prevent
such intended abandonment on behalf and in the name, place and stead of the Company (or, at the Secured Parties’ option,
in the Secured Parties’ own name) and may (but need not) take any and all other actions which the Secured Parties may reasonably
deem necessary to cure or correct such failure or prevent such intended abandonment.

 

(j)          Costs
and Expenses. Except to the extent that the effect of such payment would be to render any loan or forbearance of money usurious
or otherwise illegal under any applicable law, the Company shall pay the Secured Parties on demand the amount of all moneys expended
and all costs and expenses (including reasonable attorneys’ fees and disbursements) incurred by the Secured Parties in connection
with or as a result of the Secured Parties’ taking action under subsection (i) or exercising its rights under Section 6,
together with interest thereon from the date expended or incurred the Secured Par ties at the Default Rate.

 

(k)          Power
of Attorney. To facilitate the Secured Parties’ taking action under subsection (i) and exercising its rights under
Section 6, Company hereby irrevocably appoints (which appointment is coupled with an interest) the Secured Parties, or their
delegate, as the attorney-in-fact of the Company with the right (but not the duty) from time to time to create, prepare,
complete, execute, deliver, endorse or file, in the name and on behalf of the Company, any and all instruments, documents,
applications, financing statements, and other agreements and writings required to be obtained, executed, delivered or
endorsed by Company under this Section 3, or, necessary for the Secured Parties, after an Event of Default, to enforce or use
the Patents or Trademarks or to grant or issue any exclusive or non-exclusive license under the Patents or Trademarks to any
third party, or to sell, assign, transfer, pledge, encumber or otherwise transfer title in or dispose of the Patents or
Trademarks to any third party. The Company hereby ratifies all that such attorney shall lawfully do or cause to be done by
virtue hereof. The power of attorney granted herein shall terminate upon the termination of the Note as provided therein and
the payment and performance of all Obligations.

 

4.           Company’s
Use of the Patents and Trademarks. The Company shall be permitted to control and manage the Patents and Trademarks, including
the right to exclude others from making, using or selling items covered by the Patents and Trademarks and any licenses thereunder,
in the same manner and with the same effect as if this Agreement had not been entered into, so long as no Event of Default occurs
and remains uncured.

 

    	 	 	 

     

    

  

5.           Events
of Default. Each of the following occurrences shall constitute an event of default under this Agreement (herein called “Event
of Default”): (a) an Event of Default, as defined in the Note or the Security Agreement, shall occur; or (b) the Company
shall fail promptly to observe or perform any covenant or agreement herein binding on it; or (c) any of the representations or
warranties contained in Section 3 or in the Security Agreement or the Purchase Agreement shall prove to have been incorrect in
any material respect when made.

 

6.           Remedies.
Upon the occurrence of an Event of Default and at any time thereafter, the Secured Parties may, at their option, take any or all
of the following actions:

 

(a)          the
Secured Parties may exercise any or all remedies available under the Note or the Security Agreement.

 

(b)          the
Secured Parties may sell, assign, transfer, pledge, encumber or otherwise dispose of the Patents and Trademarks.

 

(c)          the
Secured Parties may enforce the Patents and Trademarks and any licenses thereunder, and if the Secured Parties shall commence any
suit for such enforcement, the Company shall, at the request of the Secured Parties, do any and all lawful acts and execute any
and all proper documents required by the Secured Parties in aid of such enforcement

 

7.           Appointment
of Agent. The Secured Parties hereby appoint [____] to act as their agent (“Agent”) for purposes of exercising
any and all rights and remedies of the Secured Parties hereunder, subject to the limitations set forth in Section [__] of the
Security Agreement. Such appointment shall continue until revoked in writing by a Majority in Interest, at which time a Majority
in Interest shall appoint a new Agent. The Agent shall have the rights, responsibilities and immunities set forth in Annex A hereto.

 

    	 	 	 

     

    

  

8.           Miscellaneous.
This Agreement can be waived, modified, amended, terminated or discharged, and the Security Interest can be released,
only explicitly in a writing signed by the Secured Parties. A waiver signed by the Secured Parties shall be effective only in
the specific instance and for the specific purpose given. Mere delay or failure to act shall not preclude the exercise
or enforcement of any of the Secured Parties’ rights or remedies. All rights and remedies of the Secured Parties shall
be cumulative and may be exercised singularly or concurrently, at the Secured Parties’ option, and the exercise
or enforcement of any one such right or remedy shall neither be a condition to nor bar the exercise or enforcement of any
other. All notices to be given to the Company under this Agreement shall be given in the manner and with the effect provided
in the Note. The Secured Parties shall not be obligated to preserve any rights the Company may have against prior parties,
to realize on the Patents and Trademarks at all or in any particular manner or order, or to apply any cash proceeds of
Patents and Trademarks in any particular order of application. This Agreement shall be binding upon and inure to the benefit
of the Company and the Secured Parties and their respective participants, successors and assigns and shall take effect when
signed by the Company and delivered to the Secured Parties, and the Company waives notice of the Secured Parties’
acceptance hereof. the Secured Parties may execute this Agreement if appropriate for the purpose of filing, but the failure
of the Secured Parties to execute this Agreement shall not affect or impair the validity or effectiveness of this Agreement.
A carbon, photographic or other reproduction of this Agreement or of any financing statement signed by the Company shall have
the same force and effect as the original for all purposes of a financing statement. This Agreement shall be governed by
the internal law of New York without regard to conflicts of law provisions. If any provision or application of this Agreement
is held unlawful or unenforceable in any respect, such illegality or unenforceability shall not affect other provisions
or applications which can be given effect and this Agreement shall be construed as if the unlawful or unenforceable provision
or application had never been contained herein or prescribed hereby. All representations and warranties contained in
this Agreement shall survive the execution, delivery and performance of this Agreement and the creation and payment of
the Obligations.

 

THE PARTIES
HERETO WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED ON OR PERTAINING TO THIS AGREEMENT. 

 

9.           All
rights, powers, remedies and other provisions set forth herein are subject to the limitations and conditions set forth in the Security
Agreement.

 

    	 	 	 

     

    

  

IN WITNESS WHEREOF, the parties hereto have caused this Patent and
Trademark Security Agreement to be duly executed on the day and year first above written.

 

	YAYYO, INC. 	 
	 	 	 
	By:	/s/ Ramy El-Batrawi	 
	 	Name: Ramy El-Batrawi	 
	 	Title: CEO 	 

 

    	 	 	 

     

    

  

[SIGNATURE PAGE OF SECURED PARTIES
TO PATENT AND TRADEMARK SECURITY AGREEMENT]

 

Name of Investing Entity: Bellridge Capital, L.P.

 

Signature of Authorized Signatory of Investing entity: _________________________

 

Name of Authorized Signatory: _________________________

 

Title of Authorized Signatory: __________________________

 

[Patent and Trademark Security Agreement Signature
Page]

 

    	 	 	 

     

    

  

[SIGNATURE PAGE OF SECURED PARTIES
TO PATENT AND TRADEMARK SECURITY AGREEMENT]

 

Name of Investing Entity: Bellridge Capital, L.P.

 

Signature of Authorized Signatory of Investing entity: _________________________

 

Name of Authorized Signatory: _________________________

 

Title of Authorized Signatory: __________________________

 

Appointment as Collateral Agent accepted and agreed to:

 

[_______]

 

Signature of Authorized Signatory of Investing entity: _________________________

 

Name of Authorized Signatory: _________________________

 

Title of Authorized Signatory: __________________________

 

[Patent and Trademark Security Agreement Signature
Page]

 

    	 	 	 

     

    

  

SCHEDULE I

 

List of Subsidiaries

 

    	 	 	 

     

    

  

SCHEDULE A

 

Secured Parties

 

    	 	 	 

     

    

  

EXHIBIT A

 

UNITED STATES ISSUED PATENTS

 

[List]

 

UNITED STATES PATENT APPLICATIONS

 

[List]

 

FOREIGN ISSUED PATENTS

 

[List]

 

FOREIGN PATENT APPLICATIONS

 

[List]

 

    	 	 	 

     

    

  

EXHIBIT B

 

UNITED STATES ISSUED TRADEMARKS, SERVICE
MARKS

 

AND COLLECTIVE MEMBERSHIP MARKS

 

REGISTRATIONS

 

	Trademark Name	 	Application No.	 	Registration No.	 	Status
	 	 	 	 	 	 	 
	None	 	 	 	 	 	 

 

U.S. APPLICATIONS

 

	Trademark Name	 	Jurisdiction	 	Application No.	 	Status
	 	 	 	 	 	 	 
	None	 	 	 	 	 	 

 

    	 	 	 

     

    

  

FOREIGN REGISTRATIONS

 

	Trademark Name	 	Jurisdiction	 	Registration No.	 	Status
	 	 	 	 	 	 	 
	None	 	 	 	 	 	 

 

    	 	 	 

     

    

  

ANNEX A

to

PATENT AND TRADEMARK SECURITY

AGREEMENT

 

THE AGENT

 

1.   Appointment.
The Secured Parties (all capitalized terms used herein and not otherwise defined shall have the respective meanings provided in
the Security Agreement to which this Annex A is attached (the “Agreement”)), by their acceptance of the benefits of
the Agreement, hereby designate [_______] (“Agent”) as the Agent to
act as specified herein and in the Agreement. Each Secured Party shall be deemed irrevocably to authorize the Agent to take such
action on its behalf under the provisions of the Agreement and any other Document (as such term is defined in the Purchase Agreement)
and/or any other agreement deemed to be a part of the Transaction (as such term is defined in the Purchase Agreement), and to
exercise such powers and to perform such duties hereunder and thereunder as are specifically delegated to or required of the Agent
by the terms hereof and thereof and such other powers as are reasonably incidental thereto. The Agent may perform any of its duties
hereunder by or through its agents or employees.

 

2.   Nature
of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither
the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action
taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the
consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence
or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The
duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any
other Document a fiduciary relationship in respect of Debtor or any Secured Party; and nothing in the Agreement or any other Document,
expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement
or any other Transaction Document except as expressly set forth herein and therein.

 

3.   Lack
of Reliance on the Agent. Independently and without reliance upon the Agent, each Secured Party, to the extent it deems appropriate,
has made and shall continue to make (i) its own independent investigation of the financial condition and affairs of the Debtor
and its subsidiaries in connection with such Secured Party’s investment in the Debtor, the creation and continuance of the
Obligations, the transactions contemplated by the Transaction Documents, and the taking or not taking of any action in connection
therewith, and (ii) its own appraisal of the creditworthiness of the Debtor and its subsidiaries, and of the value of the Collateral
from time to time, and the Agent shall have no duty or responsibility, either initially or on a continuing basis, to provide any
Secured Party with any credit, market or other information with respect thereto, whether coming into its possession before any
Obligations are incurred or at any time or times thereafter. The Agent shall not be responsible to any Debtor or any Secured Party
for any recitals, statements, information, representations or warranties herein or in any document, certificate or other writing
delivered in connection herewith, or for the execution, effectiveness, genuineness, validity, enforceability, perfection, collectability,
priority or sufficiency of the Agreement or any other Document, or for the financial condition of any Debtor or the value of any
of the Collateral, or be required to make any inquiry concerning either the performance or observance of any of the terms, provisions
or conditions of the Agreement or any other Transaction Document, or the financial condition of any Debtor, or the value of any
of the Collateral, or the existence or possible existence of any default or Event of Default under the Agreement, the Purchase
Agreement, the Note or any of the other Documents.

 

    	 	 	 

     

    

  

4.   Certain
Rights of the Agent. The Agent shall have the right to take any action with respect to the Collateral, on behalf of all of
the Secured Parties. To the extent practical, the Agent shall request instructions from the Secured Parties with respect to any
material act or action (including failure to act) in connection with the Agreement or any other Document, and shall be entitled
to act or refrain from acting in accordance with the instructions of a Majority in Interest; if such instructions are not provided
despite the Agent’s request therefor, the Agent shall be entitled to refrain from such act or taking such action, and if
such action is taken, shall be entitled to appropriate indemnification from the Secured Parties in respect of actions to be taken
by the Agent; and the Agent shall not incur liability to any person or entity by reason of so refraining. Without limiting the
foregoing, (a) no Secured Party shall have any right of action whatsoever against the Agent as a result of the Agent acting or
refraining from acting hereunder in accordance with the terms of the Agreement or any other Document, and the Debtors shall have
no right to question or challenge the authority of, or the instructions given to, the Agent pursuant to the foregoing, and (b)
the Agent shall not be required to take any action which the Agent believes (i) could reasonably be expected to expose it to personal
liability or (ii) is contrary to this Agreement, the Transaction Documents or applicable law.

 

5.   Reliance.
The Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing, resolution, notice, statement,
certificate, telex, teletype or telecopier message, cablegram, radiogram, order or other document or telephone message signed,
sent or made by the proper person or entity, and, with respect to all legal matters pertaining to the Agreement and the other Documents
and its duties thereunder, upon advice of counsel selected by it and upon all other matters pertaining to this Agreement and the
other Transaction Documents and its duties thereunder, upon advice of other experts selected by it. Anything to the contrary notwithstanding,
the Agent shall have no obligation whatsoever to any Secured Party to assure that the Collateral exists or is owned by the Debtors
or is cared for, protected or insured or that the liens granted pursuant to the Agreement have been properly or sufficiently or
lawfully created, perfected, or enforced or are entitled to any particular priority.

 

6.   Indemnification.
To the extent that the Agent is not reimbursed and indemnified by the Debtor, the Secured Parties will jointly and severally reimburse
and indemnify the Agent, in proportion to their initially purchased respective principal amounts of Notes, from and against any
and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any
kind or nature whatsoever which may be imposed on, incurred by or asserted against the Agent in performing its duties hereunder
or under the Agreement or any other Document, or in any way relating to or arising out of the Agreement or any other Document except
for those determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction to have resulted
solely from the Agent's (and/or by Agent’s representatives of the Agent) gross negligence or willful misconduct. Prior to
taking any action hereunder as Agent, the Agent may require each Secured Party to deposit with it sufficient sums as it determines
in good faith is necessary to protect the Agent for costs and expenses associated with taking such action.

 

7.   Resignation by the Agent.

 

(a)  The
Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at
any time by giving 30 days’ prior written notice (as provided in the Agreement) to the Debtor and the Secured Parties. Such
resignation shall take effect upon the appointment of a successor Agent pursuant to clauses (b) and (c) below.

 

    	 	 	 

     

    

  

(b)  Upon
any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Agent hereunder.

 

(c)  If
a successor Agent shall not have been so appointed within said 30-day period, the Agent shall then appoint a successor Agent who
shall serve as Agent until such time, if any, as the Secured Parties appoint a successor Agent as provided above. If a successor
Agent has not been appointed within such 30-day period, the Agent may petition any court of competent jurisdiction or may interplead
the Debtors and the Secured Parties in a proceeding for the appointment of a successor Agent, and all fees, including, but not
limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by
the Debtor on demand.

 

8.   Rights
with respect to Collateral. Each Secured Party agrees with all other Secured Parties and the Agent (i) that it shall
not, and shall not attempt to, exercise any rights with respect to its security interest in the Collateral, whether pursuant to
any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Agent or
any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than any such action arising from
the breach of this Agreement) and (ii) that such Secured Party has no other rights with respect to the Collateral other than as
set forth in this Agreement and the other Documents. Upon the acceptance of any appointment as Agent hereunder by a successor
Agent, such successor Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of
the retiring Agent and the retiring Agent shall be discharged from its duties and obligations under the Agreement. After any retiring
Agent’s resignation or removal hereunder as Agent, the provisions of the Agreement including this Annex A shall inure
to its benefit as to any actions taken or omitted to be taken by it while it was Agent.Exhibit 10.15

 

INCENTIVE AGREEMENT FOR GRANT OF STOCK

 

This Incentive Agreement for Grant of Stock
(“Agreement”) is entered into contemporaneously by and between YayYo, Inc. (“YayYo”) of 433 N. Camden Drive,
#600, Beverly Hills, CA 90210 and David C. Haley (“Haley”) of 32107 Lindero Canyon Rd #120, Westlake Village, CA 91361,
collectively referred to as “Parties”.

 

RECITALS

 

		A.	YayYo is the parent company of Rideshare Car Rentals, LLC (“RCR”) and Distinct Cars,
LLC (DC);

		B.	Haley is procuring two particular insurance policies for RCR &DC (the “Special Policies”);

		C.	The Parties have agreed that, as an incentive to Haley for the provision of certain negotiated
terms within the Special Policies, Haley shall be entitled to a grant of YayYo stock as described in this Agreement.

 

AGREEMENT

 

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

 

		1.	Incentivized Pricing. Haley agrees to write and provide the Special Policies and certain guarantees
to the insurance companies for the benefit of RCR & DC according to the following general terms (and as more fully set forth
in the Special Policies which are incorporated into this agreement by reference):

 

		(a)	For DC Period X at approximately $60 a month

		(b)	For RSR coverage for vehicles on the platform at $12 a day

 

		2.	Stock Grant. Upon issuance of the Special Policies, which is a condition precedent to the granting
of stock, YayYo shall grant to Haley the following:

 

		(a)	250,000 shares of YayYo's Common Stock.

 

		(b)	8,695 shares of Yay Yo's Common Stock. This grant is to compensate Haley for the down payment requirements
for the Special Policies, for a combined total of $69,275.00 (calculated at $8.00 per share)

 

		3.	Conveyance. The Corporation will cause issuance in book entry shares of stock equivalent to the
Grant with the transfer agent of the Corporation, evidencing Grantee ownership. Federal and state securities laws may require the
placement of certain restrictive legends upon the certificate(s) evidencing the Stock in connection with this Grant.

 

		4.	Taxes and Tax Withholding. The Parties acknowledge and agree that any liabilities for any and all
applicable taxes (“Tax-Related Items”) are the responsibility of Haley as grantee, and that Haley has had the opportunity
to consult with independent professional advisors regarding the same.

 

     

     

    

 

		5.	Governing Law. This Grant shall be governed by the laws of the State of Delaware.

 

		6.	Binding Effect. This Grant shall be binding upon the Corporation and Grantee and their respective
heirs, executors, administrators and successors.

 

		7.	Headings and Sections. The headings contained in this Certificate are for reference purposes only
and shall not affect in any way the meaning or interpretation of this Grant. Any references to sections in this Certificate shall
be to sections of this Certificate unless otherwise expressly stated as part of such reference.

 

[SIGNATURES TO FOLLOW]

 

     

     

    

 

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

 

	YayYo, Inc.	David C. Haley

 

	By:	/s/ Ramy El-Batrawi	 	By:	David C. Haley

 

	Name:	Ramy El-Batrawi, CEO	 	Name:	David	,	Haley

 

	Date:	4/1/18	Date:	4/1/18

 

     

     

    

 

YAYYO, INC.

 

STOCK GRANT

 

1.           Grant.
For value received YayYo, Inc. a Delaware Corporation (the “Corporation”), hereby grants to David
C. Haley (the “Grantee”) an aggregate of 258,695 shares of the Corporation's Common Stock (the “Grant”).

 

2.           Effective
Date. The Grant is effective as of 4/18/182018 (the “Grant Date”).

 

3.           Conveyance.
The Corporation will cause issuance in book entry shares of stock equivalent to the Grant with the transfer agent of the Corporation,
evidencing Grantee ownership. Federal and state securities laws may require the placement of certain restrictive legends upon
the certificate(s) evidencing the Stock in connection with this Grant.

 

4.           Relation
to Incentive Agreement for Grant of Stock. The Grant is subject to all of the terms and conditions set forth in that certain
Incentive Agreement for Grant of Stock executed and funded by Grantee, and whose terms are incorporated herein by reference.

 

5.           Governing
Law. This Grant shall be governed by the laws of the State of Delaware.

 

6.           Binding
Effect. This Grant shall be binding upon the Corporation and Grantee and their respective heirs, executors,
administrators and successors.

 

7.           Headings
and Sections. The headings contained in this Certificate are for reference purposes only and shall not affect in any way the
meaning or interpretation of this Grant. Any references to sections in this Certificate shall be to sections of this Certificate
unless otherwise expressly stated as part of such reference.

 

YAYYO, INC.

 

	By: 	/s/ Ramy El-Batrawi	 

 

	Name:	 	 

 

	Title:

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