Document:

Exhibit 10.1

 

RESCISSION AGREEMENT 

 

This
RESCISSION Agreement (this “Agreement”) is made as of December 31, 2017 (the “Effective
Date”), by and between Gopher Protocol, INC., a Nevada corporation
(the “Company”), and EAGLE EQUITIES, LLC, a Nevada limited liability company (the “Lender”)
(collectively referred to as the “Parties” or individually referred to as a “Party”).

 

W I T N E S S E T H:

 

WHEREAS, the
Company issued to the Lender that certain 8% Convertible Promissory Note dated September 13, 2017 in the aggregate principal
amount of $50,000 (the “Note”); and

 

WHEREAS, the
Company and the Lender previously entered into that certain 8% Convertible Promissory Back End Note Due September 13, 2018
in the amount of $50,000.00 dated September 13, 2017 (the “Issuer Backend Note”), as well as that
certain 8% Collateralized Secured Promissory Note Back End Note Due September 13, 2018 in the amount of $45,00.00 dated September
13, 2017 (the “Lender Backend Note”) (the Issuer Backend Note and Lender Backend Note shall collectively be
referred to herein as the “Backend Note”), and the Parties have executed certain documents and instruments in
connection therewith which is attached hereto as Exhibit “A”; and

 

WHEREAS, the
Parties now desire to rescind the Backend Note issued on the terms and conditions set forth below.

 

NOW, THEREFORE,
in consideration of the premises and mutual covenants contained hereinafter set forth and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties intending to be legally bound hereby, agree as follows:

 

Section 1.   Recession
of Assignment.

 

1.1          Rescission.  For
good and valuable consideration, the receipt and adequacy of which are hereby acknowledged by the Parties, the Parties do hereby
agree that the Backend Note is hereby cancelled and shall be treated for all purposes as cancelled and rescinded, effective as
of the original date of such Backend Note (the “Rescission”) ab initio.

 

1.2          Further
Assurances.  The Parties shall from time to time after the date hereof at the request of either Party and without
further consideration execute and deliver to either Party such additional instruments of transfer and assignment, including without
limitation any bills of sale, assignments of documents, and other recordable instruments of assignment, transfer and conveyance,
in addition to this Agreement, as either Party shall reasonably request to evidence more fully the rescission of the Backend Note.

 

1.3       For
the avoidance of doubt, and notwithstanding anything to the contrary contained in this Agreement, the Company’s obligations
under the Note shall not be affected in any way by this Agreement.

 

Section 2.
  Exclusions, Indemnification.

 

2.1          Excluded
Assumed Liabilities.  As of the date hereof and thereafter, it is acknowledged and agreed that the Parties shall
not assume or be responsible for any tax liabilities, licensing liabilities, litigation or any other liabilities of the other Party
resulting from this Agreement, whether known or unknown.

 

2.2.         Indemnity
of Parties. Each the Company and Lender agrees to defend, indemnify and hold harmless the other Party from and against,
and to reimburse them with respect to, all liabilities, losses, costs and expenses, including, without limitation, reasonable attorneys’
fees and disbursements (collectively the “Losses”) asserted against or incurred by either Party by reason of,
arising out of, or in connection with any material breach of any representation, warranty or covenant contained in this Agreement
made by either Party or in any document or certificate delivered by either Party pursuant to the provisions of this Agreement.

 

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Section 3.   
Representations and Warranties of the Parties.  The Parties hereto hereby represent and warrants to the
other Party that:

 

(a)           Each Party hereby represents and warrants to the other Party hereto that the execution, delivery and performance hereof by
it are within its corporate powers, and have been duly authorized by all necessary corporate or other action and that this Agreement
constitutes its legal, valid and binding obligation.

 

(b)           No Governmental Prohibition.  No order, statute, rule, regulation, executive order, injunction, stay, decree,
judgment or restraining order shall have been enacted, entered, promulgated or enforced by any court or governmental or regulatory
authority or instrumentality which prohibits the consummation of the transactions contemplated hereby.

 

Section 4.  Miscellaneous.

 

4.1          Governing
Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of New York
without regard to conflicts of laws principles that would result in the application of the substantive laws of another jurisdiction.
Any action brought by either Party against the other concerning the transactions contemplated by this Agreement must be brought
only in the state or federal courts located in the County of New York or the Southern District of New York. Both Parties and the
individuals signing this Agreement submit to the jurisdiction of such courts. If either Party commences an action arising out of
this Agreement, the prevailing Party shall, in addition to any other damages and costs awarded, be entitled to all reasonable attorneys’
fees and costs incurred in connection with the prosecution or defense of such action.

 

4.2          Successors.
This Agreement shall inure to the benefit of, and be binding upon, the permitted successors and assigns of the Parties hereto,
provided that any assignment would require the signed written consent of the other Party.

 

4.3          Entire
Agreement.  This Agreement and any instruments and agreements to be executed pursuant to this Agreement, sets
forth the entire agreement and understanding of the Parties with respect to its subject matter of this Agreement and supersedes,
merges and replaces all prior and contemporaneous understandings, agreements, discussions and negotiations, oral or written, regarding
the same subject matter which shall remain in full force and effect and may not be altered or modified, except in writing and signed
by the Party to be charged thereby, and supersedes any and all previous agreements between the Parties relating to the subject
matter thereof.

 

4.4          Headings.  The
descriptive headings contained in this Agreement are for convenience of reference only and shall not affect in any way the meaning
or interpretation of this Agreement.

 

4.5          Counterparts.
 This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument, and in pleading or proving any provision of this Agreement, it shall not be necessary
to produce more than one such counterpart. In the event that any signature is delivered by facsimile transmission, by email in
“portable document format” (“.pdf”), electronic signature or other similar electronic means intended
to preserve the original graphic and pictorial appearance of this Agreement, such signature shall have the same effect as physical
delivery of the paper document bearing original signature and create a valid and binding obligation of the Party executing (or
on whose behalf such signature is executed) the same with the same force and effect as if such facsimile signature were an original
thereof.

 

4.6          Counsel.
The Parties expressly acknowledge that each has been advised to seek separate counsel for advice in this matter and has been given
a reasonable opportunity to do so.

 

[remainder of this page is intentionally
left blank]

 

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IN WITNESS WHEREOF, this Agreement
has been duly executed and delivered by the Parties hereto as of the Effective Date as first above written.

 

	 	COMPANY: 	 
	 	 	 
	 	
        GOPHER PROTOCOL, INC.,

        a Nevada corporation,

	 	 	 	 
	 	By:	 	 
	 	  	Name: Greg Bauer	 
	 	 	Title: Chief Executive Officer	 

 

	 	LENDER: 	 
	 	 	 
	 	
        EAGLE EQUITIES, LLC,

        a Nevada limited liability company,

	 	 	 	 
	 	By: 	 	 
	 	 	Name: Yakov Borenstein	 
	 	 	Title: Managing Member	 

 

[SIGNATURE PAGE TO RESCISSION AGREEMENT]

 

    Page 3 of 3

     

    

 

EXHIBIT “A”

 

(see attached)

 

    Exhibit AExhibit 10.2

 

AMENDMENT
OF LOCK-UP AND LEAK-OUT AGREEMENT

 

THIS
AMENDMENT OF LOCK-UP AND LEAK-OUT AGREEMENT (this “Amendment”) is entered into and effective as of December
29, 2017 (the “Effective Date”) by and between Gopher Protocol Inc., a Nevada corporation with an address at
2500 Broadway, Suite F-125, Santa Monica, CA 90404 (the “Company”), and Stanley Hills, LLC, a Nevada limited
liability company (the “Note Holder”) (each, a “Party”; and, collectively, the “Parties”).

 

W
I T N E S S E T H:

 

WHEREAS,
on January 22, 2015, the Company issued that certain 10% Convertible Note to the Note Holder in the amount of $75,273.43 (the
“Note”); and

 

WHEREAS,
on June 29, 2017, the Company and the Note Holder entered into that certain Lock-up and Leak-out Agreement (the “LULO”),
whereby the Note Holder agreed, inter alia, not to convert the Note into Common Stock (the “Lock-Up”)
and agreed to certain limitations in respect of sales of the Company’s Common Stock from and after the date on which conversions
were no longer prohibited (the “Leak-Out”); and

 

WHEREAS,
the Parties now wish to amend the LULO to permit conversion of the Note into shares of Common Stock and, thereby, eliminating
the Lock-Up provisions of the LULO, but wish to keep the provisions of the Leak-Out and the other provisions of the LULO;

 

NOW,
THEREFORE, in consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the Parties, intending to be legally bound hereby, hereby agree as
follows:

 

1.          Incorporation
of Recitals. The above-referenced Recitals are specifically incorporated into this Amendment as an integral part hereof,
are true and accurate in all respects and are intended to bind the Parties hereto. For the avoidance of doubt, Recitals are not
merely a statement of intention but are intended to be operative provisions of this Amendment.

 

2.          Integrated
Document. It is the intention of the parties hereto that this Amendment and the LULO, as so amended, shall be read
as and considered to be an integrated document, setting forth the entire agreement of the Parties hereto with respect to its subject
matter. There are no other terms, conditions, promises, understandings, statements or representations, express or implied, concerning
this Agreement that are not included herein or in the LULO.

 

3.          Release
of Transfer Restrictions; Transfer Agent Instructions. The Note Holder is hereby released from the provisions of paragraph
1 of the LULO, and any related provisions thereof in respect of the termination of the Lock-Up provisions thereof and, accordingly,
may, but need not, convert some or all of the Note into shares of Common Stock or transfer, assign, mortgage, hypothecate, or
otherwise encumber or permit or suffer any encumbrance of all or any part of the Note. The Company shall revoke any “stop-transfer”
or other instructions that may have been issued to its transfer agent (the “Stop Transfer Instructions”) in
connection with the LULO.

 

	GOPH - 2017-12-28
    Amendment of LULO	_______   _______

  

     Page 1 of 5

     

    

 

4.          Representations
and Warranties. Each Party hereto hereby represents and warrants to the other Party as follows:

 

(a)          Authorization.
Such Party has the full right, power and authority to enter into this Amendment and to have entered into the LULO and to perform
the terms and provisions hereof and thereof. The execution, delivery, and performance of this Amendment and of the LULO by such
Party have been duly authorized by all necessary action on the part of such Party, and this Amendment and the LULO constitute
the valid and binding obligation of such Party, enforceable against such Party in accordance with their respective terms.

 

(b)          No
Conflicts. Neither the execution and delivery of this Amendment nor the previous execution and delivery of the LULO nor
compliance with the terms and provisions hereof or thereof on the part of such Party shall breach any statutes or regulations
of any governmental authority, domestic or foreign, or shall conflict with or result in a breach of such Party’s organizational
document(s) (if applicable) or of any of the terms, conditions or provisions of any judgment, order, injunction, decree, agreement
or instrument to which such Party is a party or by which it or its assets are or may be bound, or constitute a default thereunder
or an event which with the giving of notice or passage of time or both would constitute a default thereunder, or require the consent
of any person or entity.

 

(c)          Consents
and Approvals. No consent, waiver, approval, order, permit, or authorization of, or declaration or filing with, or notification
to, any person or entity is required on the part of such Party in connection with the execution and delivery of this Amendment
or was required in connection with the execution and delivery of the LULO or the consummation of the transactions contemplated
hereby or thereby.

 

5.          Miscellaneous.

 

(a)          Superseding
Clause. This Amendment supersedes any and all other agreements, and/or resolutions dealing with the subject matter of
the LULO insofar as this Amendment purports to amend paragraph 1 of the LULO, and any related provisions thereof in respect of
the termination of the Lock-Up provisions thereof.

 

(b)          Notices.
All notices or other communications required or permitted by this Agreement or by law to be served on or given to either Party
to this Amendment by the other Party shall be in writing and shall be deemed duly served when personally delivered to the Party
at an address agreed upon by both Parties.

 

(c)          Governing
Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the
State of California, without giving effect to the principles of conflict of laws. Any action brought by either party against the
other concerning the transactions contemplated by this Agreement shall be brought only in the state courts or in the federal courts
located in the County and City of Los Angeles, California. The Parties to this Amendment hereby irrevocably waive any objection
to jurisdiction and venue of any action instituted hereunder or in respect of the LULO and shall not assert any defense based
on lack of jurisdiction or venue or based upon forum non conveniens. The Parties executing this Amendment, the LULO,
and other agreements referred to herein or therein or delivered in connection herewith or therewith agree to submit to the in
personam jurisdiction of such courts and, to the maximum extent permitted by law, hereby irrevocably waive trial by jury.
If either Party commences an action arising out of this Amendment or the LULO, the prevailing Party shall, in addition to
any other damages and costs awarded, be entitled to reasonable legal fees incurred in connection with the prosecution or defense
of such action.

 

	GOPH - 2017-12-28
    Amendment of LULO	_______   _______

 

     Page 2 of 5

     

    

 

(d)          Headings.
The headings preceding the text of the several sections of this Agreement are inserted for convenience and shall not affect
the meaning, construction, scope or effect of this Amendment.

 

(e)          Assignment.
This Amendment and the LULO and all the provisions hereof and thereof will be binding upon and inure to the benefit of the
Parties hereto and their respective successors and permitted assigns.

 

(f)          Severability.
Whenever possible, each provision of this Amendment and the LULO will be interpreted in such manner as to be effective and
valid under applicable law, but if any provision hereof or thereof is held to be prohibited by or invalid under applicable law,
such provision will be ineffective only to the extent of such provision or invalidity, without invalidating the remainder of such
provision or the remaining provisions of this Amendment or the LULO.

 

(g)          Amendment.
Except as provided herein, the LULO has not been amended. In the event either party wishes to amend the LULO further, it may
only be amended or waived in a writing executed by the both Parties.

 

(h)          No
Waiver of Rights. No failure or delay on the part of any Party in exercising any right, power or privilege under this
Amendment or under the LULO shall operate as waiver thereof nor shall any single or partial exercise thereof preclude any other
or further exercise thereof or the exercise of any other right, power, or privilege. The rights and remedies herein and therein
provided shall be cumulative and not exclusive of any rights or remedies provided by applicable law.

 

(i)          Complete
Amendment. This Amendment contains the complete agreement between the Parties hereto to amend he LULO and supersedes any
prior understandings, agreements or representations by or between the Parties, written or oral, that may have related to the subject
matter hereof in any way.

 

(j)          Counterparts.
This Amendment may be executed in two or more identical counterparts, all of which shall be considered one and the same amendment
and shall become effective when counterparts have been signed by each Party and delivered to the other Party. In the event that
any signature is delivered by facsimile transmission or by an e-mail which contains a portable document format (.pdf) file of
an executed signature page, such signature page shall create a valid and binding obligation of the Party executing (or on whose
behalf such signature is executed) with the same force and effect as if such signature page were an original thereof.

 

	GOPH - 2017-12-28
    Amendment of LULO	_______   _______

 

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(k)          Advice
of Counsel. EACH PARTY ACKNOWLEDGES THAT, IN EXECUTING THIS AMENDMENT AND THE LULO, SUCH PARTY HAS HAD THE OPPORTUNITY
TO SEEK THE ADVICE OF INDEPENDENT LEGAL COUNSEL, AND HAS (AND HAD) READ AND UNDERSTOOD ALL OF THE TERMS AND PROVISIONS HEREOF
AND THEREOF. NEITHER THIS AMENDMENT NOR THE LULO SHALL BE CONSTRUED AGAINST ANY PARTY BY REASON OF THE DRAFTING OR PREPARATION
HEREOF OR THEREOF.

 

[
Remainder of Page Intentionally Left Blank; Signature Page to Follow ]

 

	GOPH - 2017-12-28
    Amendment of LULO	_______   _______

 

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IN
WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment as of the Effective Date defined above.

 

	  	company:

         

        Gopher
Protocol, INC.  

	  	  	
	 	By:	/s/
    Greg Bauer
	 	 	Name:
    Greg Bauer
	  	  	Title: Chief Executive Officer

 

	  	NOTE
                    HOLDER:

         

        STANLEY
HILLS, LLC 
	  
	  	  		  
	 	By:	/s/
    Yossi Attia	 
	 	 	Name:
    Yossi Attia	 
	  	  	Title: Manager	  

 

[
Signature Page to Amendment of LULO ]

 

	GOPH - 2017-12-28
    Amendment of LULO	

  

    Page
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