Document:

Exhibit 10.17

 

EMPLOYMENT AGREEMENT

 

EMPLOYMENT
AGREEMENT (this "Agreement") dated as of April 02,  2019, by and between MOBIQUITY TECHNOLOGIES, INC., a
New York corporation (the "Company") having an office at 35 Torrington Lane, Shoreham, NY 11786 and Paul Bauersfeld
("Bauersfeld") having an address at 61 Broadway, suite 1105, New York, NY 10006.

 

W I T N E S S E T H:

 

WHEREAS, Company
desires to engage the services of Bauersfeld and Bauersfeld desires to provide the services to Company as an employee in connection with
Company's business and as its Chief Technology Officer; and

 

WHEREAS, both
parties desire to clarify and specify the rights and obligations which each have with respect to the other in connection with Bauersfeld's
services.

 

NOW, THEREFORE,
in consideration of the agreements and covenants herein set forth, the parties hereby agree as follows:

 

1. Employment

 

Bauersfeld hereby agrees to be employed by Company
as its Chief Technology Officer.

 

2. Duties and
Responsibilities of Bauersfeld

 

Bauersfeld's duties
and responsibilities shall be as directed by the Company's Chief Executive Officer, subject to the direction of the Company's
Board of Directors.

 

3.       Exclusivity
of Service

 

The Company agrees
that Bauersfeld shall be a full-time employee of the Company. Bauersfeld may pursue other outside business interests that are not related
to the same business as the Company, as long as it does not interfere with the everyday responsibilities of the Company.

 

4.       Compensation;
Bonus

 

		(a)	In consideration for Bauersfeld's services to be performed under this Agreement and as compensation
therefor, Company shall pay to Bauersfeld, commencing as of the date set forth above, in addition to all other benefits provided
for in this Agreement, a salary at the rate of Twenty-Five Thousand ($25,000) Dollars per month, (the "Bauersfeld Salary").
All payments of Bauersfeld Salary shall be payable in accordance with Company's policies.

 

 

 

 

    	 	1	 

     

    

 

		(b)	Upon execution of this Agreement, Bauersfeld shall receive the grant of 10-year options to purchase
Ten Million (10,000,000) Shares of Common Stock under Mobiquity Technologies, Inc.'s ("MTI") Stock Option Plan,
with 35% vesting on the date hereof, 35% vesting twelve (12) months from the date hereof, and the remaining 30% vesting twenty-four
(24) months from the date hereof. The exercise price of said options shall be the closing sale price of MTI' s Common Stock on
the date of grant.

 

	 	(c)	In addition to the Bauersfeld Base Salary, Bauersfeld shall be entitled to a
    quarterly     bonus (the "Quarterly Bonus") of 0.5% of Gross Revenue (as defined under generally accepted
    accounting principles)     for each completed fiscal quarter, so long as Gross Revenue meets or exceeds managements stated
    goal (See Exhibit A). The     Quarterly Bonus shall be paid no later than fourteen (14) days from Company's filing of the
    form 10-Q, either in cash, common     stock or stock options, at the election of Bauersfeld. Should this Agreement be
    terminated prior to the end of any fiscal year     for any reason other than that provided in paragraph 8, a pro rata portion
    of the Quarterly Bonus shall be paid within 30     days of such termination. For each subsequent calendar year, the Company's
    Board of Directors, will confirm a new revenue     goal for the upcoming year and that goal will be added to Exhibit A for
    the purpose of calculating the Quarterly Bonus.

 

		(d)	It is also agreed that at the discretion of the Board, the vesting period of all options owned
by Bauersfeld may be accelerated upon a change in control of the Company or sale of substantially all of the assets of the Company.

 

5.       Reimbursements
and Indemnification

 

Bauersfeld shall be entitled to the following during
and in respect of the term of this Agreement:

 

(a) Bauersfeld
shall each be entitled to reimbursement, at the discretion of the Company's Chief Executive Officers, for all reasonable travel,
reasonable entertainment and other reasonable expenses incurred in connection with Company's business, provided that such expenses
are approved in advance in writing by an executive officer of the Company and such expenses adequately documented and vouchered
in accordance with Company's policies.

 

(b) The
Company shall provide to Bauersfeld to the full extent provided for under the laws of the Company's state of incorporation and the
Company's Certificate of Incorporation and Bylaws, indemnification for any claim or lawsuit which may be asserted against Bauersfeld
when acting in such capacity for the Company and/or any subsidiary or affiliated business. The Company shall use reasonable best
efforts to include Bauersfeld as an insured under all applicable directors' and officers' liability insurance policies maintained
by the Company, and any other subsidiary or affiliated business.

 

(c)
Bauersfeld shall also be entitled to participation in the Company's health insurance for him and his family, three weeks paid
vacation and three months' severance pay if terminated without cause.

 

 

 

    	 	2	 

     

    

 

6.       Term
of Employment

 

Bauersfeld shall be considered an employee
at will.

 

7.       Non-Competition;
Non-Solicitation

 

(a)
Bauersfeld hereby agrees and covenants that during the Term hereof that he will not directly or indirectly engage in or become
interested (whether as an owner, principal, agent, stockholder, member, partner, trustee, venturer, lender or other investor,
director, officer, employee, consultant or through the agency of any corporation, limited liability company, partnership, association
or agent or otherwise) in any business enterprise which is engaged in the current business of the Company during the Term; provided,
however, that ownership of not more than 15% of the outstanding securities of any class of any entity that are listed on a
national securities exchange or traded in the over-the-counter market shall not be considered a breach of this Section 7.

 

(b)
Bauersfeld agrees and covenants that during the Term of this Agreement and a period of one year thereafter, he will not (without
first obtaining the written permission of Company) directly or indirectly recruit for employment, or induce or seek to cause
such person to terminate his or her employment with Company, any person who then is an employee of Company or who was an
employee of Company during the preceding twelve (12) months.

 

8.       Termination

 

Termination
by the Company with Cause. The following shall be considered acts of cause which shall void any payment of severance pay to
Bauersfeld. "Cause" is hereby defined as event (i) of Bauersfeld's commission of an act involving fraud, embezzlement,
or theft against the property or personnel of Company, (ii) Bauersfeld shall be convicted of, or plead nolo contendere
to a felony or engages in other criminal conduct that could reasonably be expected to have a material adverse affect on the business,
assets, properties, prospects, results of operations or financial condition of Company, or (iii) Bauersfeld's failure to comply
with the directions of the Company's board of directors and/or executive officers. In the event this Agreement is terminated pursuant
to this Section 8(a), Bauersfeld's Salary and all benefits under Section 5(c) hereof shall terminate immediately upon such discharge,
and Company shall have no further obligations to Bauersfeld except for payment and reimbursement for any monies due which right
to payment or reimbursement accrued prior to such termination. Termination for cause shall also include failure to adhere to policies
and Code of Conduct established by the Board of Directors.

 

 

 

    	 	3	 

     

    

 

9.                 
Violation of Other Agreements and Authority

 

Bauersfeld represents
and warrants to Company that he is legally able to enter into this Agreement; that he is not prohibited by the terms of any agreement,
understanding or policy from entering into this Agreement; that the terms hereof will not and do not violate or contravene the
terms of any agreement, understanding or policy to which Bauersfeld is or may be a party, or by which Bauersfeld may be bound; that Bauersfeld
is under no physical or mental disability that would materially interfere with the performance of his duties under this Agreement.
Bauersfeld agrees that, as it is a material inducement to Company that Bauersfeld make the foregoing representations and warranties and
that they be true in all material respects.

 

10.            
Company Authority Relative to this Agreement

 

The Company has the
requisite corporate power and authority to execute and deliver this Agreement and to consummate the transactions contemplated by
this Agreement. The Board of Directors of the Company has duly authorized the execution and delivery of this Agreement by the Company
and the consummation by the Company of the transactions contemplated on its part by this Agreement, and no other corporate proceedings
on the part of the Company are necessary to authorize this Agreement or for the Company to consummate the transactions contemplated
by it. The Company has duly validly executed and delivered this Agreement and it is a valid and binding Agreement of the Company,
enforceable against the Company in accordance with its terms, subject to bankruptcy or insolvency laws affecting creditors' rights
generally and to general principles of equity.

 

11.            
Notices

 

Any and all notices,
demands or requests required or permitted to be given under this Agreement shall be given in writing and sent via email to the
email address provided for Mr. Bauersfeld below and, on behalf of the Company, to the email address of Dean Julia as set forth below.

 

12.            
Waivers

 

No waiver by any party
of any default with respect to any provision, condition or requirement hereof shall be deemed to be a waiver of any other provision,
condition or requirement hereof; nor shall any delay or omission of any party to exercise any right hereunder in any manner impair
the exercise of any such right accruing to it thereafter.

 

13.            
Entire Agreement

 

This Agreement sets
forth the entire and only agreement or understanding between the parties relating to the subject matter hereof and supersedes
and cancels all previous agreements, negotiations, letters of intent, correspondence, commitments and representations in respect
thereof among them, and no party shall be bound by any conditions, definitions, warranties or representations with respect to
the subject matter of this Agreement except as provided in this Agreement.

 

 

 

 

    	 	4	 

     

    

 

14.       Inurement; Assignment

 

The rights and obligations
of Company under this Agreement shall inure to the benefit of and shall be binding upon any successor of Company or to the business
of Company, subject to the provisions hereof. Neither this Agreement nor any rights or obligations of Bauersfeld hereunder shall be
transferable or assignable by Bauersfeld.

 

15.            
Amendment

 

This Agreement may
not be amended in any respect except by an instrument in writing signed by the parties hereto.

 

16.            
Headings

 

The headings in this
Agreement are solely for convenience of reference and shall be given no effect in the construction or interpretation of this Agreement.

 

17.            
Counterparts

 

This Agreement may
be executed in any number of counterparts, each of which shall be deemed an original, but all of which when taken together shall
constitute one and the same instrument.

 

18.            
Governing Law

 

This Agreement shall
be governed by, construed and enforced in accordance with the internal laws of the State of New York, without giving reference
to principles of conflict of laws. Each of the parties hereto irrevocably consents to the venue and exclusive jurisdiction of
the federal and state courts located in the State of New York, County of Nassau. THE PARTIES HEREBY KNOWINGLY, IRREVOCABLY,
VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHT THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY ACTION, PROCEEDING OR COUNTERCLAIM
BASED ON THIS EMPLOYMENT AGREEMENT OR THE TRANSACTIONS CONTEMPLATED IN IT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS
(WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY TO IT.

 

 

 

 

    	 	5	 

     

    

 

IN
WITNESS WHEREOF, this agreement has been approved by the Compensation Committee of the Board of Directors of the Company and
the parties hereto have caused this Agreement to be duly executed as of the date first above written.

  

	 	MOBIQUITY TECHNOLOGIES, INC.	 
	 	 	 	 
	 	By:  	/s/ Dean Julia	 
	 		Dean Julia, CEO	 
	 	 	 	 
	 	 	 	 
	 		/s/Paul Bauersfeld	 
	 		Paul Bauersfeld	 

 

 

 

 

 

 

    	 	6	 

     

    

 

 

Exhibit A

 

 

2019 Revenue Goal

 

	Q1	 	 	 	 
	Jan	 	$	350,000	 
	Feb	 	$	375,000	 
	Mar	 	$	650,000	 
	 	 	 	 	 
	Q2	 	 	 	 
	Apr	 	$	1,000,000	 
	May	 	$	1,000,000	 
	Jun	 	$	1,320,000	 
		 	 	 	
	Q3	 	 	 	 
	Jul	 	$	1,780,000	 
	Aug	 	$	1,940,000	 
	Sep	 	$	2,450,000	 
	Q4	 	 	 	 
	Oct	 	$	2,700,000	 
	Nov	 	$	3,250,000	 
	Dec	 	$	4,200,000	 
	 	 	 	 	 
	Total	 	$	21,015,000	 

 

 

 

 

 

 

 

 

    	 	7Exhibit 10.18

 

EMPLOYMENT AGREEMENT

 

EMPLOYMENT
AGREEMENT (this "Agreement"), dated December 7, 2018 ("Effective Date"), by and between
ADVANGELISTS, LLC, a Delaware limited liability company ("Company") with an office address at 701 5th
Avenue, 75th Floor, Seattle, Washington 98104 and DEEPANKAR KATYAL, an individual having an address at
5447 31st Ave SW, Seattle, WA 98126 ("Employee").

 

W I T N E S S E T H:

 

WHEREAS,
Company is engaged in the business of digital and mobile advertising, marketing, programming, automation and motion-based (the
"Business");

 

WHEREAS, Employee has certain experience
relating to the Business; and

 

WHEREAS,
Company and Employee desire to enter into this Agreement to set forth the terms and conditions of the employment relationship
between Company and Employee commencing on the Effective Date.

 

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

 

1.       Nature
of Employment.

 

(a)               Engagement
and Reporting. Company hereby engages Employee as an employee of Company to hold the office of Chief Executive Officer ("CEO") for
the Employment Period (as defined in Section 3), and Employee accepts such employment on the terms and condition s set forth
in this Agreement. Throughout the Employment Period, Employee shall report to the Managers of the Company (the "Managers") and
shall perform and discharge well and faithfully the duties in connection with the conduct of the Business that may be
delegated to him by the Managers and all other duties which are customary for a CEO of a company engaged in a business which
is the same as or similar to the Business of the Company.

 

(b)              
Devotion. Throughout the Employment Period, Employee will: (i) devote a sufficient amount of his business energies,
interests, abilities and time in order to fulfill his duties to Company hereunder and to any subsidiaries and affiliates of Company,
which shall be at least forty (40) hours per week; (ii) observe and carry out such reasonable and lawful rules, regulations, policies,
directions and restrictions as may be established from time-to-time by the Managers, including the standard policies and procedures
of Company as in effect from time-to-time; and (iii) do such traveling as may reasonably be required in connection with the performance
of such duties and responsibilities.

 

(c)                Service
to Subsidiaries and Affiliates. During the Employment Period, Employee will, if elected or appointed, serve as (i) an
officer of Company and/or, with Employee's prior consent, any subsidiaries or affiliates of Company in existence or hereafter
created or acquired in addition to Employee's CEO officership, (ii) a director of Mobiquity (as defined below), and (iii) a
director or Manager, as applicable, of Company and/or, with Employee's prior consent, any such subsidiaries or affiliates of
Company in existence or hereafter created or acquired, in each case without any additional compensation for such
services.

 

 

 

    	 	1	 

     

    

 

(d)       Nature
of Obligations. Employee acknowledges that Sections 4, 5, 6, and 7 of this Agreement contain non-disclosure of confidential
and proprietary information, assignment of invention and intellectual property, non-competition, non-solicitation, non-disparagement
and other restrictive covenant provisions and Employee agrees to comply with these provisions, except that Employee shall retain
all his rights to pre-existing confidential and proprietary information relative to inventions and intellectual property in existence
and held and owned by Employee on or prior to the execution of this Agreement. Employee understands that entering into and complying
with these provisions is a material condition to Employee's continued employment with Company and that failure to comply with the
terms and conditions of these provisions may result in termination for Cause (as defined below) under this Agreement.

 

2.       Compensation
and Benefits.

 

(a)              
Base Salary. Subject to the terms and conditions of this Agreement, during the Employment Period, Employee shall be
entitled to receive base salary ("Base Salary") at the gross annual rate of Four Hundred Thousand Dollars ($400,000),
which shall be payable in periodic installments in accordance with the standard payroll practices of Company in effect from time-to-time,
and shall be subject to any required tax and payroll withholdings and deductions.

 

(b)              
Benefits and Perquisites. Employee shall be entitled to participate, throughout the Employment Period, in all benefit
plans, policies, programs and additional perquisites as are generally provided by Company to Employees at Employee's level of
responsibility, including participation in Company's medical, health, dental, life insurance, health and accident, disability
and 401(k) and retirement plans, if any; provided, however, that nothing herein contained shall be deemed to require Company
to adopt or maintain any particular plan or policy.

 

(c)               
Additional Compensation. In addition to the compensation and benefits set forth in this Section 2, Employee shall be
entitled to additional compensation ("Additional Compensation") set forth on Schedule 2(c) attached hereto,
and Company shall cause such Additional Compensation to be delivered to Employee when and as due.

 

(d)              
Expense Reimbursements. Employee shall be provided a corporate credit card for all business travel, gas and meals. In
the event Employee uses personal funds and/or credit for such expenses, Company shall reimburse Employee, upon presentment by Employee
to Company of appropriate receipts, vouchers or other supporting documentation therefor, for any reasonable out-of-pocket business
expenses incurred by Employee on behalf of Company in connection with the performance of his duties and responsibilities hereunder,
in accordance with Company's standard policies and procedures in effect from time-to-time, including reimbursement of monthly mobile
phone expenses, gas charges and business travel expenses such as lodging and meals.

 

(e)               
Reserved.

 

 

 

 

    	 	2	 

     

    

 

(f)                
Indemnification. Company shall indemnify Employee to the extent provided in its then current Certificate of Formation
and limited liability operating agreement, but in no event to any extent less favorable than as provided in the Certificate of
Formation and limited liability operating agreement in effect on the Effective Date, which rights shall continue to apply to Employee
notwithstanding any amendment or repeal of such sections. Solely in consideration for Company's agreement as set forth in the preceding
sentence, after the termination of Employee's employment with Company, Employee agrees, at Company's expense, to fully assist,
consult and cooperate in good faith with Company, as requested by Company, in connection with (i) any pending or threatened or
completed action, suit or proceeding, whether civil, criminal, administrative, arbitrative or investigative and whether or not
Employee is a named or threatened party to such action, suit or proceeding, (ii) any appeal in such an action, suit or proceeding,
and (iii) any inquiry or investigation that could lead to such an action, suit or proceeding.

 

(g)              
Vacation, Holidays and Paid Time Off. Employee will be entitled to holidays and paid time off in accordance with Company's
standard policies and procedures in effect from time-to-time. Employee will also be entitled to three (3) weeks of paid vacation
per year beginning as of the Effective Date at such times as are reasonably acceptable to Company. Any paid vacation not used by
each anniversary of the Effective Date shall not carry over to the next year.

 

3.       Employment
Period and Termination of Employment.

 

(a)              
Employment Period. Subject to prior termination in accordance with this Section 3 (the effective date of such termination,
the "Termination Date"), the term of this Agreement and Employee's employment hereunder shall be for a term commencing
on the Effective Date and ending three (3) years thereafter. The term of this Agreement is referred to as the "Employment
Period."

 

(b)              
Termination by Company For Cause.

 

(i)                
During the Employment Period, Company may terminate Employee's employment at any time for Cause by giving Employee thirty
(30) days advance written notice of such termination specifying the reasons therefor. In the event of such termination for Cause,
as liquidated damages, Company's obligation to Employee will be limited solely to the payment to Employee of the amounts set forth
under Section 2(a) and (d) hereof which are due or owing to Employee through the Termination Date.

 

(ii)              
As used herein, the term "Cause" means: (A) any breach of a material provision of this Agreement by Employee
or any failure by Employee to perform his duties and responsibilities hereunder, including the disregard of any lawful direction
given to Employee by the Managers, other than as a result of Employee's complete or partial incapacity due to physical or mental
illness, disability, or impairment; (B) willful or reckless act that constitutes gross misconduct on the part of Employee and
is injurious to the Company; (C) any fraud, criminal misconduct, embezzlement or misappropriation by Employee in connection with
the performance of his duties and responsibilities hereunder; (D) Employee being under the influence of alcohol or drugs during
working hours or while performing services for Company (provided this shall not restrict Employee from taking physician-prescribed
medication in accordance with the applicable prescription); (E) the conviction of Employee or plea of guilty or nolo contendere
or acceptance of deferred adjudication or judgment by Employee to any crime (whether or not involving Company) constituting a
felony in the jurisdiction involved; (F) any action by Employee which would reasonably be expected to materially impair or damage
the reputation of Company; (G) Employee's repeated failure or refusal to comply with Company's lawful policies and procedures
after receiving repeated written notices from the Company specifically identifying the acts or omissions involved; or (G) Employee's
non-compliance with any federal, state or other law, rule, regulation or court order which is materially injurious to the Company.
Notwithstanding anything to the contrary contained herein, "Cause" shall not be deemed to exist unless written
notice thereof is given to Employee specifically identifying the acts or omissions constituting the grounds for a Cause termination,
and with respect to subsections (A), (B), (F) and (G) herein, a reasonable cure period of not less than thirty (30) business days
following receipt of such notice; except that after notices are given under this Section 3(b)(ii) on three (3) occasions in a
calendar year, there shall be no cure period or ability to cure for any act or omission which is the subject of the notice. No
act or failure to act by Employee will be considered "willful" unless committed without good faith and without a reasonable
belief that the act or omission was in the Company's best interest.

 

 

 

    	 	3	 

     

    

 

(c)       Termination
By Company Without Cause.

 

(i)              
During the Employment Period, Company may terminate Employee's employment at any time without Cause upon sixty (60) days
advance written notice to Employee.

 

(ii)             
In the event of such termination without Cause, Company shall pay to Employee all amounts set forth under Section 2(a) and
(d) which are due or owing to Employee through the Termination Date.

 

(iii)            
In the event Company terminates Employee's employment pursuant to Section 3(c)(i) above, then, provided Employee is not
in breach of Sections 4, 5, or 6 of this Agreement and subject to the execution of a general release of claims in favor of Company
and the expiration of all applicable notice, revocation and similar periods (other than any claims for amounts due Employee under
this Agreement but not yet paid in accordance with the terms hereof as of the Termination Date), Employee or Employee's estate
will receive the amount set forth in Section 2(a), (c), and (d) which would have been payable to Employee for the remainder of
the Employment Period had the Employee remained an employee of the Company as severance payable in accordance with Company's regular
payroll practices (or quarterly, with respect to Section 2(c)), commencing on the Termination Date (the "Severance Period")
(or, in Employee's discretion, such later date as the foregoing period may be necessary to avoid any adverse tax consequences
under Section 409(A) of Code (as defined in Section 8(a)). The consideration described in the this Section 3(c)(iii) shall be referred
to herein as the "Without Cause Consideration" and all or any portion of such consideration is assignable by Employee
to any person or entity in Employee's sole discretion.

 

(d)       Termination
of Employment by Reason of Death. If Employee shall die during the Employment Period, this Agreement shall terminate automatically
as of the date of death and Company's obligation to Employee will be limited to the payment to Employee's estate of the amounts
set forth under (i) Section 2(a) hereof which would otherwise be payable to Employee up to the end of the calendar month in which
Employee's death occurs, (ii) Section 2(d), and (iii) Section 2(c) hereof which would have been payable to Employee had the Employee
remained in the employ of the Company for the Severance Period.

 

 

 

    	 	4	 

     

    

 

(e)       Termination
of Employment by Reason of Disability. If Employee shall suffer a Disability (as defined herein) during the Employment Period,
this Agreement shall terminate automatically as of the date of such Disability and subject to the execution of a general release
of claims in favor of Company and the expiration of all applicable notice, revocation and similar periods (other than any claims
for amounts due Employee under this Agreement but not yet paid in accordance with the terms hereof as of the Termination Date),
and Company's obligation to Employee will be limited solely to the payment to Employee of the amounts set forth under (i) Section
2(a) hereof which would otherwise be payable to Employee up to the end of the calendar month in which Employee's Disability occurs,
(ii) Section 2(d) , and (iii) Section 2(c) hereof which would have been payable to Employee had the Employee remained in the employ
of the Company for the Severance Period. As used herein, the term "Disability" means the inability of Employee
to substantially perform Employee's duties and responsibilities by reason of mental or physical illness or injury of Employee for
a period of more than six (6) consecutive months in any twelve (12) month period. For purposes of determining whether a Disability
has occurred under this Agreement, the written determination of an independent physician chosen by the Employee and Company is
required and shall be final, conclusive, and binding on Company and Employee. Notwithstanding the above, Employee's employment
shall not be terminated until the Company determines, after making reasonable attempts to consult with Employee or his legal representatives,
that there is no reasonable accommodation that would permit Employee to perform the essential functions of his position without
imposing an undue hardship on the Company. The obligations of Company under this Section 3(e) may be satisfied, in whole or in
part, by payments to Employee under a disability insurance policy provided by Company (which Company has no obligation to obtain).

 

(f)       Termination
by Employee For Good Reason.

 

(i)              
During the Employment Period, Employee may terminate Employee's employment at any time for Good Reason by giving the Company
written notice of such termination specifying the reasons therefor.

 

(ii)             
In the event of such termination Good Reason, Company shall pay to Employee all amounts set forth under Section 2(a) and
(d) which are due or owing to Employee through the Termination Date.

 

(iii)            
In the event Employee terminates Employee's employment pursuant to Section 3(f)(i) above, then, provided Employee is not
in breach of Sections 4, 5, or 6 of this Agreement and subject to the execution of a general release of claims in favor of Company
and the expiration of all applicable notice, revocation and similar periods (other than any claims for amounts due Employee under
this Agreement but not yet paid in accordance with the terms hereof as of the Termination Date, Employee or Employee's estate
will receive the amount set forth in Section 2(d) and in Sections 2(a) and 2(c) which would have been payable to Employee had
the Employee remained in the employ of the Company for the Severance Period as severance payable in accordance with Company's
regular payroll practices (or quarterly with respect to Section 2(c)), commencing on the Termination Date (or, in Employee's discretion,
such later date as the foregoing period may be necessary to avoid any adverse tax consequences under Section 409(A) of Code (as
defined in Section 9(a)). Notwithstanding the foregoing, the amount of any severance payment provided to Employee pursuant to
Section 2(a) under this Section 3(f)(iii) during the Severance Period shall be reduced by any base salary compensation earned
by Employee as a result of comparable employment by another employer during the Severance Period. Employee agrees to immediately
advise Company of the commencement of any such employment during the Severance Period and the receipt and amount of such compensation.

 

 

 

    	 	5	 

     

    

 

(iv)       As
used herein, the term "Good Reason" means: without Employee's consent: (a) a reduction in the Employee's
Base Salary by more than 5%, other than a general reduction in Base Salary that affects all similarly situated employees and
does not exceed other such reductions on a percentage basis; (b) a significant reduction of Employee's duties, position,
responsibilities, or reporting requirements with the Company, or the removal of Employee from such position and
responsibilities, unless Employee is provided with a comparable position (i.e., a position of equal or greater organizational
level, duties, authority, compensation, and status); (c) a
relocation of Employee's principal place of employment by more than fifty (50) miles; (d) any material breach by the Company
of any material provision of this Agreement which remains uncured for thirty (30) days after Employee give the
Company written notice of such breach.

 

4.       Restrictive
Covenants. Employee will not at any time during the Employment Period and for the one (1) year period following the Termination
Date (or, if later, the expiration or termination of Employee's employment with Company if such employment continues after the
Termination Date) (such period, the "Restricted Period"), for any reason whatsoever, without the prior written
approval of Company, directly or indirectly, whether individually or as an employee, officer, principal, owner, trustee, partner,
joint venturer, shareholder, member, manager, director, agent, broker or representative of, or lender, consultant or independent
contractor to, or jointly or in conjunction with, or as an investor in, any person or entity, or in any other capacity:

 

(a)               
engage or participate within the United States and Canada, in a commercial activity which is the same as, similar to, or
competitive with, directly or indirectly, the Business and shall not make any investments in, or loans to, any person or entity
engaging in or which proposes to engage in any such activity, except that the foregoing shall not restrict Employee from acquiring
less than five percent (5%) of the outstanding voting stock of any entity the securities of which are listed on a nationally recognized
stock exchange;

 

(b)              
cause or seek to persuade any manager, member, employee, officer, principal, partner, joint venture, shareholder, representative,
customer, client, account, agent, representative, or supplier of, or consultant or independent contractor to, or investor in,
Company or any person or entity with whom Company has a business relationship (collectively, "Business Associates")
to discontinue or materially modify the status, employment or relationship of such Business Associates with Company following
the Effective Date, or to become employed in any activity the same as, similar to or competitive with the activities of Company;

 

 

 

 

    	 	6	 

     

    

 

(c)               
cause or seek to persuade any Prospective Business Associate to determine not to enter into a business relationship with
Company or to materially modify its contemplated business relationship. For purposes of this Section 4(c), the term "Prospective
Business Associate" means a Business Associate who was solicited to become a Business Associate by Company during the
one (1) year preceding the Termination Date and such solicitation was known to Employee;

 

(d)              
hire, retain, or associate in a business relationship with, directly or indirectly, any manager, member, director, stockholder,
officer, employee, agent or representative of, or consultant or independent contractor to, Company;

 

(e)               
directly or indirectly, solicit, or cause or authorize to be solicited, for or on behalf of Employee or any third party,
any business from, or the entering into of a business relationship with, (i) others who are, or were within one (1) year prior
to the Termination Date (or, if later, the expiration or termination of Employee's employment with Company if such employment continues
after the Termination Date), a customer, client, account or other Business Associate of Company, or (ii) any prospective customer,
client, account or other Business Associate of Company which, at or about the Termination Date, was then actively being solicited
by Company; or

 

(f)               
discuss or otherwise make known to any person or entity the names and/or addresses of any of the customers, clients, accountants,
suppliers or other Business Associates of Company or of others who are or were within one (1) year prior to the Termination Date
(or, if later, the expiration or termination of Employee's employment with Company if such employment continues after the Termination
Date), a customer, client, account or supplier or other Business Associate of Company.

 

5.       Confidential
Information.

 

(a)       Employee
represents that Employee has been informed that it is the policy of Company to maintain as secret all Confidential
Information (as defined below) relating to Company, and Employee further acknowledges that such Confidential Information is
of great value to Company and that Company has taken all reasonable steps to protect the confidentiality of the Confidential
Information. Employee recognizes that, by reason of Employee's employment with Company during the Employment Period, Employee
has acquired and will acquire Confidential Information as aforesaid. Employee confirms that it is reasonably necessary to
protect Company's goodwill and its ability to compete in a highly competitive field and, accordingly, Employee hereby agrees
that, at all times after the Effective Date, Employee will not, directly or indirectly, at any time during Employee's
employment with Company or after the Termination Date divulge to any person or entity, other than Company, or use, or cause
or authorize any person or entity to use, any such Confidential Information. The foregoing will not prohibit disclosure of
Confidential Information as required by law or regulation, including, but not limited to, those of the United States
Securities and Exchange Commission and the rules of any exchange, quotation system and/or self-regulatory organization on
which or with which the securities of Company or any subsidiary or affiliate are quoted, listed and/or traded, as the case
may be; provided that if Employee is required to make a disclosure pursuant to the foregoing, Employee shall give
Company prompt written notice thereof and cooperate with Company's efforts to seek a protective order. Neither the foregoing
nor anything else herein shall prohibit Employee from reporting possible violation of federal or state law or regulations to
any governmental agency or self-regulatory organization, or making other disclosures that are protected under whistleblower
or other provisions of applicable federal or state law or regulations.

 

 

 

 

    	 	7	 

     

    

 

(b)              
[reserved]

 

(c)               
Employee agrees that, after the Termination Date (or, if later, the expiration or termination of Employee's employment with
Company if such employment continues after the Termination Date), Employee shall promptly deliver to Company all Confidential Information
in Employee's possession or under Employee's control or any Discoveries (as defined below) or property which is otherwise the property
of Company.

 

(d)              
For purposes hereof, the term "Confidential Information" means all information in spoken, printed, electronic
or any other form or medium given to Employee, directly or indirectly, by Company or other information relating to Company, the
Business, any existing or prospective customer, client, account, supplier or any other Business Associate or any other person
or entity that has entrusted information to Company or information otherwise acquired by Employee from Company pursuant to the
terms and conditions of this Agreement and any other agreement between Employee and Company, other than information which (i)
was in the public domain at the time furnished to, or acquired by, Employee or (ii) thereafter enters the public domain other
than through disclosure by Employee or in breach of an agreement of confidentiality. Without limitation, Confidential Information
includes: business processes, practices, methods, policies, plans, publications, documents, research, operations, services, strategies,
techniques, agreements, contracts, terms of agreements, transactions, potential transactions, negotiations, pending negotiations,
know-how, trade secrets, computer programs, computer software, applications, operating systems, software design, web design, work-in-process,
databases, manuals, records, articles, systems, material, sources of material, supplier information, vendor information, financial
information, results, accounting information, accounting records, legal information, marketing information, advertising information,
pricing information, credit information, design information, payroll information, staffing information, personnel information,
employee lists, supplier lists, vendor lists, developments, reports, internal controls, security procedures, graphics, drawings,
sketches, market studies, sales information, revenue, costs, formulae, notes, communications, algorithms, product plans, designs,
styles, models, ideas, audiovisual programs, inventions, unpublished patent applications, original works of authorship, discoveries,
experimental processes, experimental results, specifications, customer information, customer lists, client information, client
lists, manufacturing information, factory lists, distributor lists, and buyer lists of Company or the Business or any existing
or prospective customer, supplier, account or other Business Associate, or of any other person or entity that has entrusted information
to Company in confidence. Employee understands that the above list is not exhaustive and that Confidential Information also includes
other information that is marked or otherwise identified as confidential or proprietary, or that would otherwise appear to a reasonable
person to be confidential or proprietary in the context and circumstances in which the information is known or used.

 

 

 

 

    	 	8	 

     

    

 

(e)               
Employee understands and agrees that Confidential Information includes information developed by him in the course of Employee's
employment by Company as if Company furnished the same Confidential Information to Employee in the first instance.

 

(f)               
In the event that Employee is requested or required (by oral question or written request for information or documents in
any legal proceeding, interrogatory, subpoena, civil investigative demand or similar legal proceeding) to disclose any Confidential
Information, Employee will promptly notify Company of the request or requirement so that Company may seek a protective order. Upon
Company's request, Employee will use Employee's commercially reasonable efforts to obtain assurances that confidential treatment
will be accorded to the Confidential Information and only that portion of the Confidential Information which Employee is advised
in writing is legally required to be disclosed may be disclosed.

 

6.       Discoveries.
(a) Employee agrees to promptly disclose in writing to the Managers all ideas, processes, methods, devices, business concepts,
inventions, improvements, discoveries, know-how and other creative achievements (hereinafter referred to collectively as "Discoveries"),
whether or not the same or any part thereof is capable of being patented, trademarked, copyrighted or otherwise protected,
which Employee, while employed with Company, as well as those communicated to Employee by other employees/consultants of Company,
conceives, makes, develops, acquires or reduces to practice, whether acting alone or with others and whether during or after usual
working hours, and which are related to the Business, or are used or usable by Company, or arise out of or in connection with
the duties performed by Employee. Employee hereby transfers and assigns to Company in perpetuity all right, title and interest
in and to the Discoveries (whether conceived, made, developed, acquired or reduced to practice prior to, during or after
the Employment Period), including any and all domestic and foreign copyrights and patent and trademark rights therein and any
renewals thereof, all of which are hereby deemed provided to Company as a "Work for Hire" without claim by Employee.
On request of Company, Employee will, without any additional compensation if during the Employment Period, from time to time during
the Employment Period or thereafter, execute such further instruments (including, without limitation, applications for copyrights,
letters patent, trademarks and assignments thereof in any and all countries) and do all such other acts and things as may be deemed
necessary or desirable by Company to protect and/or enforce its right in respect of the Discoveries; provided, however that
if Employee is assisting Company with the foregoing after the Employment Period, then the Company shall pay Employee for his time
at a reasonable to-be-agreed-upon rate and will pay all of Employee's associated costs and expenses. All expenses of filing or
prosecuting any patent, trademark or copyright application shall be borne by Company, but Employee shall cooperate in filing and/or
prosecuting any such application.

 

(b)       For
purposes of this Agreement, any Discovery shall be deemed to have been made during Employee's employment with Company if, during
such period, the Discovery was conceived or first actually reduced to practice. Employee shall keep and maintain adequate and
correct written records of all Discoveries made by Employee (solely or jointly with others) during Employee's employment with
Company, which records shall be available to and remain the property of Company at all times.

 

 

 

 

    	 	9	 

     

    

 

(c)               
Any assignment of copyrights under this Agreement includes all rights of paternity, integrity, disclosure, withdrawal and
any other rights that may be known as "moral rights" (collectively, "Moral Rights"). Employee hereby
irrevocably waives, to the extent permitted by applicable law, any and all claims Employee may now or hereafter have in any jurisdiction
to any Moral Rights with respect to the Discoveries.

 

(d)              
Notwithstanding Section 6(a), to the extent that any of Employee's preexisting materials identified on Schedule 6(d)
hereto are contained in the Discoveries, Employee retains ownership of such preexisting materials and hereby grants to Company
an irrevocable, worldwide, unlimited, royalty-free license to use, publish, reproduce, display, distribute copies of, and prepare
derivative works based upon, such preexisting materials and derivative works thereof. Company may assign, transfer and sublicense
such rights to others without Employee's approval. Further, Employee's post-termination use of such pre-existing materials shall
not be considered a violation of Section 4 of this Agreement.

 

(e)               
Except for such pre-existing materials identified on Schedule 1 hereto, Employee has no right or license to use, publish,
reproduce, prepare derivative works based upon, distribute, perform or display any Discoveries and has no right or license to use
Company's trademarks, service marks, trade names, trade names, logos, symbols or brand names.

 

7.                 
Other Information. Employee agrees that Employee will not use or disclose or bring onto the premises of Company any
confidential or proprietary information of any other person or entity with respect to which Employee has an agreement or duty to
keep such information in confidence.

 

8.                 
Nature of Obligations; Rights and Remedies. Each of the parties hereby acknowledges, agrees and confirms that:

 

(a)               
Employee's obligations under this Agreement (the "Covenants") are (i) special, unique and of extraordinary
character and (ii) the essence of the bargain and are essential and material consideration for Employee's employment by Company;

 

(b)              
the Covenants do not impose a greater restraint than is necessary to protect the legitimate business and economic interests
of Company;

 

(c)               
the terms and conditions of the Covenants contain reasonable limitations as to time and scope of activity to be restrained.
In the event that any Covenant shall be determined by any court, regulatory agency, arbitrator or tribunal of competent jurisdiction
("Court") to be unenforceable by reason of it extending for too long a period of time or by reason of it being
too extensive in any other respect, such Covenant shall be interpreted to extend only for the longest period of time for which
it may be enforceable and/or to the extent in all other respects as to which it may be enforceable, all as determined by such Court
in such action;

 

(d)              
breaches of the Covenants may cause irreparable injury to Company and that money damages may not provide an adequate remedy
to Company;

 

 

 

 

    	 	10	 

     

    

 

(e)       the
magnitude of the damages that would result from breaches of the Covenants would be difficult to quantify; and

 

(f)       based
on the foregoing, Employee hereby understands, agrees and shall raise no objection to the following:

 

(i)              
that the strict and specific performance of the Covenants is a reasonable, bargained-for expectation of Company and that,
in the event of a breach of any of the Covenants, Company shall be entitled as a form of relief to seek and obtain, and Employee
hereby consents to, a judicial order and judgment directing the breaching party to specifically perform his or her obligations
under such Covenant and enjoining the breaching party from failing to perform his or her obligations under such Covenant or acting
in a manner that would otherwise constitute a breach of this Agreement;

 

(ii)             
that, in the event of a breach of any of the Covenants, Company, in addition to any of the other applicable rights or remedies
(with respect to the event of a breach), shall be entitled to seek and obtain, and Employee hereby consents to the entry of, temporary,
preliminary and permanent injunctive and other equitable relief restraining, enjoining and prohibiting any such breach, and directing
the specific performance of the terms of this Agreement;

 

(iii)            
that in any proceeding seeking relief for a breach of any of the Covenants, any requirement for Company to (x) post any
bond or other security or collateral as a condition of any relief sought or granted; (y) prove actual damages; or (z) demonstrate
the adequacy of money damages as a remedy, each of which is hereby irrevocably waived by Employee;

 

(iv)            
that by operation of the foregoing provisions, Employee is knowingly and intentionally relinquishing or limiting certain
important rights and privileges to which Employee otherwise might be entitled, including the right to object to a grant of specific
performance and injunctive relief, that Employee has been advised by counsel regarding the execution and delivery of this Agreement,
and that Employee's relinquishment and limitation thereof is voluntary and fully informed;

 

(v)              
that the failure of Company to seek redress for violation of, or to insist upon the strict performance of, any provision
of this Agreement shall not prevent a subsequent act, which would have originally constituted a violation, from having the effect
of an original violation and no delay in the exercise of any remedy shall constitute a waiver of that remedy. All remedies may
be exercised concurrently, successively or in any order;

 

(vi)           
that any relief awarded by a court of competent jurisdiction under this Agreement shall be enforceable and enforced in all
other jurisdictions without regard to conflicts of law or the impact of any other forum's public policy to the extent that it may
differ from the public policy of the State of New York; and

 

 

 

 

    	 	11	 

     

    

 

(vii)         
that, in the
event of a breach of Section 4 of this Agreement, the Restricted Period shall be extended by the length of time Employee or any
other party was in breach thereof.

 

9.       Section
409A of the Code.

 

(a)       Section
409A. It is intended that the provisions of this Agreement comply with Section 409A of the Internal Revenue Code (the "Code")
(such Section, "Section 409A") or be exempt therefrom, and this Agreement shall be administered, and all provisions
of this Agreement shall be construed, in a manner consistent with the requirements for avoiding taxes or penalties under Section
409A of the Code.

 

(b)       Installments.
If under this Agreement an amount is to be paid in two or more installments, for purposes of Section 409A of the Code, each
installment shall be treated as a separate payment.

 

(c)       Separation
From Service. A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement
providing for the payment of amounts or benefits subject to Section 409A of the Code upon or following a termination of employment
unless such termination is also a "Separation from Service" within the meaning of Section 409A of the Code and,
for purposes of any such provision of this Agreement, references to a "resignation," "termination," "termination
of employment" or like terms means Separation from Service.

 

(d)       Specified
Employee. If Employee is deemed on the date of termination of his employment to be a "specified employee" within
the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by Company from
time to time, or if none, the default methodology, then:

 

(i)                With
regard to any payment, the providing of any benefit or any distribution of equity that constitutes "deferred compensation"
subject to Section 409A of the Code, payable upon separation from service, such payment, benefit or distribution shall not
be made or provided prior to the earlier of (x) the expiration of the six-month period measured from the date of Employee's Separation
from Service or (y) the date of Employee's death; and

 

(ii)              
On the first day of the seventh month following the date of Employee's Separation from Service or, if earlier, on the date
of his death, (x) all payments delayed pursuant to this Section 9 with interest at the prime rate as published in the Wall Street
Journal on the first business day of the delay period (whether they would otherwise have been payable in a single sum or in installments
in the absence of such delay), shall be paid or reimbursed to Employee in a lump sum, and any remaining payments and benefits due
under this Agreement shall be paid or provided in accordance with the normal dates specified for them herein and (y) all distributions
of equity delayed pursuant to this Section 9 shall be made to Employee.

 

 

 

 

    	 	12	 

     

    

 

(e)                
Reimbursement. With regard to any provision herein that provides
for reimbursement of costs and expenses or in-kind benefits, except as permitted by Section 409A of the Code, (i) the right to
reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, (ii) the amount of expenses
eligible for reimbursement or in-kind benefits provided during any taxable year shall not affect the expenses eligible for reimbursement
or in-kind benefits to be provided in any other taxable year, provided that the foregoing clause (ii) shall not be violated without
regard to expenses reimbursed under any arrangement covered by Section 105(b) of the Code solely because such expenses are subject
to a limit related to the period the arrangement is in effect and (iii) such payments shall be made on or before the last day
of Employee's taxable year following the taxable year in which the expense occurred.

 

(f)                
Payment Period. Whenever a payment under this Agreement specifies a payment period with reference to a number of days
(e.g., payment shall be made within forty (40) days following the date of termination), the actual date of payment within the specified
period shall be within the sole discretion of Company.

 

(g)               
Compliance. If any provision of this Agreement (or of any award of compensation, including equity compensation or benefits)
would cause Employee to incur any additional tax or interest under Section 409A of the Code, Company shall, after consulting with
Employee and subject to Employee's agreement, reform such provision to comply with Section 409A of the Code; provided that
Company agrees to maintain, to the maximum extent practicable, the original intent and economic benefit to the Employee of the
applicable provision without violating the provisions of Section 409A of the Code.

 

10.             
No Conflicting Obligations. Employee represents that Employee's compliance with the terms of this Agreement and Employee's
performance as an Employee of Company do not and shall not breach any agreement to keep in confidence information acquired by Employee
in confidence or in trust prior to employment by Company. Employee has not entered into, and agrees not to enter into, any agreement,
either written or oral, in conflict herewith.

 

11.             
Reserved.

 

12.             
Notices. Any notice or communication permitted or required by this Agreement shall be in writing and deemed effectively
give upon the earlier of actual receipt or (a) personal delivery, (b) when sent, if sent by electronic mail or facsimile during
normal business hours of the recipient, and if not sent during normal business hours, then on the recipient's next business day,
(c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one
(1) business day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next business day delivery,
with return receipt requested to the following addresses (or such other address as provided by the parties pursuant to this Section
12):

 

	If to Company:	
        Advangelists, LLC

        c/o Mobiquity Technologies, Inc.

        35 Torrington Ln.

        Shoreham, NY 11786

        Facsimile:[____________]

        E-mail: djulia@mobiquitynetworks.com

        Attention:
        Dean Julia

 

 

 

 

    	 	13	 

     

    

 

	
        With a copy to:

        

        
	
        Gavin C. Grusd, Esq.

        Ruskin Moscou Faltischek P.C.

        1425 RXR Plaza, East Tower, 15th Floor

        Uniondale, New York 11556

        Telecopier: (516) 663-6714

        E-mail: ggrusd@rmfpc.com

        

        

	 	 
	If to Employee:	Deepankar Katyal

        5447 31st Ave. SW

        Seattle, WA 98126
	 	 
	With a copy to:	TangoLaw, PLLC

801 2nd Avenue,
Suite 1110

Seattle, WA 98104

E-mail: noel@tangolaw.com

Attention: Noel C. Howe

 

 

13.             
Representations and Warranties.

 

Employee hereby represents
and warrants to, and agrees with, Company that Employee has all legal capacity and requisite power and authority to enter into
and perform this Agreement and this Agreement is and will remain Employee's valid and binding agreement, enforceable against Employee
in accordance with its terms (subject, as to the enforcement of remedies, to any applicable bankruptcy, insolvency or other laws
affecting the enforcement of creditors rights).

 

14.             
General.

 

(a)              
Waiver. No waiver by Company or Employee of any right under this Agreement will be construed as a waiver of any other
right. Neither Company nor Employee will be required to give notice to enforce strict adherence to all terms of this Agreement.

 

(b)              
Successor and Assigns. Neither this Agreement, nor any of Employee's rights, powers, duties or obligations hereunder,
may be assigned by Employee. This Agreement shall be binding upon and inure to the benefit of Employee and Employee's heirs and
legal representatives and Company and its successors. Successors of Company shall include, without limitation, any person or entity
acquiring, directly or indirectly, all or substantially all of the assets of Company, whether by merger, consolidation, purchase,
lease or otherwise, and successor shall thereafter be deemed "Company" for the purpose hereof.

 

(c)               
Headings. The captions and Section headings used in this Agreement are for convenience of reference only, and will not
affect the construction or interpretation of this Agreement or any of the provisions hereof.

 

(d)               
Choice of Law. The validity and construction of this Agreement or any of its provisions will be governed by and construed
in accordance with the laws of the State of New York without regard to its conflicts of law.

 

 

 

 

    	 	14	 

     

    

 

(e)               
Jurisdiction. (i)The parties hereto intend to and hereby confer jurisdiction to enforce the Covenants upon the courts of any jurisdiction (a "Jurisdiction") within the geographical
scope of the Covenants. In the event that the courts of any one or more Jurisdiction shall hold the Covenants wholly unenforceable
by reason of the breadth of their scope or otherwise, it is the intention of the parties hereto that such determination not bar
or in any way affect the right of Company to the relief provided above in the courts of any other jurisdiction within the geographical
scope of the Covenants as to breaches of the Covenants as they relate to each jurisdiction being, for this purpose, severable into
diverse and independent covenants.

 

(ii)       Without
limiting the generality of Section 13(e)(i), Employee hereby irrevocably and unconditionally: (i) consents to and submits to,
in any action relating to this Agreement, or for recognition and enforcement of any judgment in respect thereof, the exclusive
jurisdiction of the federal courts or the state courts located within New York County, State of New York, (ii) consents that any
such action or proceeding may be brought in such courts, and waives any objection that he may now or hereafter have to the venue
of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and
agrees not to plead or claim the same; (iii) agrees that service of process in any such action or proceeding may be effected by
mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to Employee
at the address set forth above or at such other address of either party as such party may specify by notice given to the other
party in accordance with Section 11 above; and (iv) agrees that nothing herein shall affect the right to effect service of process
in any other manner permitted by law.

 

(f)                
Counterparts. This Agreement may be executed in counterparts, each of which will be deemed to be an original hereof,
but all of which together will constitute one and the same instrument. Signature here as which are transmitted via facsimile, .pdf
or other electronic means shall be deemed original signatures.

 

(g)              
Entire Agreement. This Agreement constitutes the sole and entire agreement and understanding between the parties hereto
as to the subject matter hereof, and supersedes all prior discussions, agreements and understandings of every kind and nature between
them as to such subject matter.

 

(h)              
No Third Party Beneficiaries. This Agreement is intended for the sole and exclusive benefit of the parties hereto and
their respective heirs, executors, administrators, personal representatives, successors and permitted assigns, and no other person
or entity will have any right to rely on this Agreement or to claim or derive any benefit herefrom absent the express written consent
of the party to be charged with such reliance or benefit.

 

(i)                
Severability. If any provision of this Agreement is held invalid or unenforceable, either in its entirety or by virtue
of its scope or application to given circumstances, such provision will thereupon be deemed modified only to the extent necessary
to render same valid, or not applicable to given circumstances, or excised from this Agreement, as the situation may require,
and this Agreement will be construed and enforced as if such provision had been included herein as so modified in scope or application,
or had not been included herein, as the case may be.

 

 

 

 

    	 	15	 

     

    

 

(j)       No
Termination. The provisions of this Agreement will survive the termination of Employee's employment and the assignment of
this Agreement by Company to any successor in interest or other assignee.

 

(k)       Representation
by Counsel; Interpretation. Employee acknowledges that Employee has been represented by counsel, or has been afforded the
opportunity to be represented by counsel, in connection with this Agreement. Accordingly, any rule or law or any legal decision
that would require the interpretation of any claimed ambiguities in this Agreement against the party that drafted it has no application
and is expressly waived by Employee. The provisions of this Agreement shall be interpreted in a reasonable manner to give effect
to the intent of the parties hereto, which is to enforce the provisions of this Agreement to the maximum extent permitted by law,
including Sections 4, 5, 6, 7 and 8 hereof. Employee has read this Agreement carefully and fully understands and agrees to its
terms.

 

(1)       Construction.
As used in this Agreement, the world "including" means "including, without limitation," the masculine
gender shall include feminine and the neuter, and the singular number shall include the plural, and vice versa.

 

 

[remainder of page intentionally left
blank; signature page follows]

 

 

 

 

 

 

 

 

 

    	 	16	 

     

    

 

IN WITNESS
WHEREOF, the parties have executed and delivered, or caused to be executed and delivered, this Employment Agreement on the
date first written above.

 

  

	 	COMPANY:

                     
	 
	 	ADVANGELISTS, LLC	 
	 	 	 	 
	 	By:  	/s/ Dean Julia	 
	 		Name: Dean Julia	 
	 	 	Title:	 
	 	 	 	 
	 	 	 	 
	 	EMPLOYEE:	 
	 	 	 
	 	/s/ Deepankar Katyal	 
	 	DEEPANKAR KATYAL	 

 

 

 

 

 

 

 

 

 

 

    	 	17	 

     

    

 

Schedule 2(c)

 

Additional Compensation

 

Mobiquity Technologies,
Inc. ("Mobiquity"), a New York corporation, a member of the Company, shall issue one (1) share of its Class B
Preferred Stock (the "Class B Preferred Stock") to Employee. The Class B Preferred Stock shall be authorized
and created pursuant to a Certificate of Designation which Mobiquity shall file with the Secretary of State of the State of New
York within five (5) business days after the Effective Date. The Class B Preferred Stock shall provide dividend rights, payable
in cash, to the holders thereof in an amount equivalent to 10% of the gross revenue of Mobiquity or the Company, whichever is
higher, for each of its 2019 and 2020 fiscal years. Such dividends (i) shall be declared and paid not later than seventy five
(75) days following the end of each such fiscal quarter and (ii) shall not exceed an aggregate of Six Hundred Thousand Dollars
($600,000) per year per holder for all holders of Class B Preferred Stock (i.e., an aggregate of no more than One Million Two
Hundred Thousand Dollars ($1,200,000) to the two holders of the Class B Preferred Stock per annum cumulatively). Subject to the
dividend rights in favor of the holders of the Class B Preferred Stock, all rights, privileges, preferences, and restrictions
set forth in Mobiquity's to-be-filed Certificate of Designation shall terminate as of December 31, 2020, and, immediately upon
declaration and payment of the dividend in respect of Mobiquity's 2020 fiscal year, Mobiquity shall withdraw such class from its
authorized capital. Other than the above-referenced dividend rights, the Class B Preferred Stock shall not confer any rights upon
the holders thereof. Employee and Lokesh Mehta, the Company's Chief Technical Officer will be the only holders of Mobiquity's
Class B Preferred Stock.

 

In the event that the Employee's employment
is terminated by Employee's resignation without Good Reason, or by the Company pursuant to Section 3(b) prior to the December 31,
2020, the Class B Stock issued to Employee shall be canceled on the date of the Employee's resignation or on the Termination Date,
as applicable, as it relates to dividends relating to the fiscal quarters ending after such resignation date or Termination Date.

 

 

 

 

 

 

 

    	 	18	 

     

    

 

Schedule 6(d)

 

Excluded Discoveries

 

1.       None.

 

 

 

 

 

 

 

 

 

 

 

    	 	19

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00295-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00295-of-00352.parquet"}]]