Document:

WAIVER AND SECOND AMENDMENT TO 

ASSET PURCHASE AGREEMENT

 

THIS WAIVER AND SECOND AMENDMENT TO ASSET
PURCHASE AGREEMENT (this “Amendment”) is made this 14th day of November, 2012, by and among NET PROFITS TEN, INC. (“Purchaser”),
WORLD MOTO (THAILAND) CO., LTD. (“Seller”), CHRIS ZIOMKOWSKI (“Chris”) and PAUL GILES (“Paul”).

 

RECITALS:

 

WHEREAS, the Purchaser, the Seller, Chris
and Paul entered into an Asset Purchase Agreement dated September 1, 2012 (the “Agreement”), which was subsequently
amended;

 

WHEREAS, Purchaser has agreed to purchase
from the Seller, and the Seller has agreed to sell to the Purchaser, assets related to the Moto-Meters;

 

WHEREAS, pursuant to the Agreement, the
Purchaser, the Seller, Chris and Paul have agreed that prior to the Closing Date, the Purchaser will change the name of the Purchaser
to a name that is the same as or similar to World Moto Company, and Seller will change its name to one that is not similar to World
Moto, as agreed upon by the Seller and Purchaser;

 

WHEREAS, the Purchaser, the Seller, Chris
and Paul are willing to agree to waive the change of name of the Purchaser and the change of the name of the Seller as a condition
to closing;

 

WHEREAS, Purchaser, Seller, Chris and Paul
have agreed to modify the Agreement as set forth herein.

 

AGREEMENTS:

 

NOW, THEREFORE, in consideration of the
mutual promises set forth herein, the parties agree as follows:

 

		1.	Amendment.  In the Table of Contents, sections 5.21, 7.6 and 8.2(j) are deleted and in their places will be
substituted with the following:

 

“Intentionally Omitted.”

 

		2.	Amendment.   Section 7.6 is deleted in its entirety and in its place will be substituted with the following:

 

“This section is omitted intentionally and the
numbering of the other sections will remain the same.”

 

    	 

    	 

    

 

		3.	Amendment.  Section 7.9 is deleted in its entirety and in its place will be substituted
with the following::

 

“The Assets include, and the Ancillary Agreements shall
convey to Purchaser, all rights in and to all names used in the business of the Seller, and therefore, at a mutually agreed upon
time after the Closing, none of Seller or its Affiliates shall be entitled to use any names used in the business prior to Closing,
or any abbreviation, derivation or variation thereof, in or for the name or title of any entity, trade, product or business anywhere
in the world from and after the mutually agreed upon time the Closing. Seller shall, within a reasonable time after the Closing,
undertake and promptly pursue all necessary action to change its business and corporate names, including Internet domain names,
to new names bearing no resemblance to any of its present names so as to permit the use of such names by Purchaser. Without limiting
the foregoing, Seller will deliver to Purchaser such documents as Purchaser shall reasonably request to evidence the foregoing.”

 

		4.	Amendment.  Section 8.2(j) is deleted in its entirety and in its place will be substituted with the following:

 

“This section is omitted
intentionally and the numbering of the other sections will remain the same.”

 

		5.	Amendment.  Section 5.21, requiring a lock-up of shares is deleted in its entirety.

 

		6.	Effect on Other Provisions. Except for the foregoing, the Agreement, as amended, shall continue
in full force and effect and shall not be affected hereby except as expressly provided herein.

 

    	 

    	 

    

 

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

 

	Net Profits Ten, Inc.	 	World Moto (Thailand) Co. Ltd.
	 	 	 	 	 
	By:	 /s/ Marlon Liam	 	By:	 
	 	Marlon Liam, President	 	 	Title:

 

	 	  /s/ Chris Ziomkowski
	 	Chris Ziomkowski
	 	 
	 	  /s/ Paul Giles
	 	Paul GilesBOARD OF DIRECTORS AGREEMENT 

 

This Agreement is made by World Moto Inc.
(“Company”), a Nevada corporation and  Julpas "Tom" Kruesopon
(“Mr. Kruesopon”), and is effective as of December 19st, 2012 (“Effective Date”). Company and
Mr. Kruesopon agree as follows:

 

Section 1.    Engagement of Services

 

Company has requested Mr. Kruesopon and
Mr. Kruesopon has agreed to act as a member of the Company’s Board of Directors. As such, Mr. Kruesopon shall use reasonable
efforts to attend meetings as requested from time-to-time by the Company’s CEO and to render advice on issues discussed at
such meetings. In addition, Mr. Kruesopon will consult on general Company strategy, new business development, potential acquisitions
and advise the Company’s CEO and Board of Directors on ad hoc matters (the “Services”).

 

Section 2.    Compensation 

 

In consideration of the Services, Company
will issue Mr. Kruesopon a total of 500,000 shares of restricted common stock of the Company and will pay Mr. Kruesopon a one-time
fee of $10,000.00 USD for the period ending one year from the date of the Effective Date (“the Term”). The restricted
stock shall vest in its entirety on the 1st anniversary date of Mr. Kruesoporn's appointment to the board, and the restricted
period will expire 90 days after Mr. Kruesoporn ceases to be a member of the Board for any reason. This sum shall be compensation
for up to 1 meeting during the Term. The time and place of such meeting will be designated by the Company’s CEO and shall
be subject to the availability of Mr. Kruesopon. Any additional director’s meetings attended by Mr. Kruesopon in excess of
1 meeting per year shall be compensated at the rate of $1,000.00 USD per meeting. Additionally, the sum of $3,000.00 USD shall
be paid for attending the Company's annual meeting. In addition, Mr. Kruesopon will be reimbursed for his reasonable expenses incurred
in rendering the Services. The fee shall be paid promptly upon signing of this Agreement. All other amounts will be paid within
30 days of the Company’s receipt of Mr. Kruesopon’s invoice.

 

Section 3.    Confidentiality 

 

3.1    Confidential
Information.    As used in this Agreement, “Confidential Information” means all nonpublic information
disclosed by or relating to the Company that is designated as confidential or that, given the nature of the information or the
circumstances surrounding its disclosure, reasonably should be considered as confidential. Confidential Information includes, without
limitation, (i) all nonpublic information relating to Company’s technology, customers, business plans, promotional and marketing
activities, finances and other business affairs, and (ii) all third-party information that the Company is obligated to keep confidential.
Confidential Information may be contained in tangible materials, such as drawings, data, specifications, reports and computer programs,
or may be in the nature of unwritten knowledge.

 

    	 

    	 

    

 

3.2    Exclusions.    “Confidential
Information” does not include any information that (i) is or becomes publicly available without breach of this Agreement,
(ii) can be shown by documentation to have been known to Mr. Kruesopon at the time of its receipt from the Company, (iii) is received
from a third party who did not acquire or disclose such information by a wrongful or tortious act, or (iv) can be shown by documentation
to have been independently developed by Mr. Kruesopon without reference to any Confidential Information.

 

3.3    Use of Confidential
Information.    Mr. Kruesopon may use Confidential Information only in pursuance of his relationship with
the Company. Except as expressly provided in this Agreement, Mr. Kruesopon will not disclose Confidential Information to anyone
without Company’s prior written consent. Mr. Kruesopon will take all reasonable measures to avoid disclosure, dissemination
or unauthorized use of Confidential Information, including, at a minimum, those measures it takes to protect his own confidential
information of a similar nature. Mr. Kruesopon will segregate Confidential Information from the confidential materials of third
parties to prevent commingling.

 

Section 4.    Independent Contractor

 

Mr. Kruesopon shall be an independent contractor
in the performance of the Services. This Agreement shall not be interpreted as creating an association, joint venture, or partnership
relationship between the parties or as imposing any employment, or partnership obligation, or liability on any party. Mr. Kruesopon
shall not be entitled to, and shall not attempt to, create or assume any obligation, express or implied, on behalf of Company.
Company shall have no obligation to withhold or pay income tax, workers’ compensation, pension, deferred compensation, welfare,
insurance, and other employee taxes on behalf of Mr. Kruesopon.

 

Section 5.    General Provisions 

 

5.1.    Term.    This
Agreement is effective as of the Effective Date and will continue for a term of one year, to renew annually automatically, unless
terminated by either party with 30 days notice.

 

5.2    Governing
Law.    The laws of the State of Nevada, U.S.A. shall govern this Agreement.

 

5.3    Entire Agreement.    This
Agreement sets forth the entire understanding and agreement of the parties as to the subject matter of this Agreement. It may be
changed only by written amendment signed by the parties.

 

	 	Paul Giles	 	 
	 	 	 	 
	Signature:	/s/ Julpas Kruesopon	 	Date:_12/19/12
	 	Julpas Kruesopon	 	 
	 	 	 	 
	Signature:	/s/ Paul Giles	 	Date:__12/19/12
	 	Paul GilesLETTER OF INTENT TO DISTRIBUTE MOTO METERSTM

 

INTRODUCTORY

 

This Letter of intent is dated February 25 2014 and confirms
your and our mutual intention with respect to the potential distributing of intellectual property identified herein and upon terms
and conditions described herein. Having completed satisfactory due diligence, this letter records the desire of the parties to
co-operate in entering into a License Agreement (the “Agreement”) between them upon mutually acceptable terms.

 

THE PARTIES

 

                 
      (“Licensee”)

 

AND:

 

World Moto Inc. of 131 Thailand Science Park Moo 9, Innovation
Cluster 1, INC 1-214, Klong Neung, Klong Luang, Pathumthani 12120

 

(“Licensor”)

 

Collectively referred to herein as (“the Parties”).

 

BACKGROUND

 

1. World Moto Inc. over a number of years developed a unique
next generation Motorcycle Meter called the Moto MeterTM (“the Technology”).

 

2. Licensor has protection of its intellectual property rights
to the product and the supporting software derived therefrom or which use all or any part of its intellectual property by extensive
global registered patents and filed patent applications.

 

3. Licensee wishes to license the Moto MeterTM within the
agreed territory or to the agreed market segment.

 

4. The parties wish to identify the basic terms of formal licensing
documentation to be prepared and entered into between them as will achieve their respective intents and result in Licensee having
access to all or part of the intellectual property of the Licensor upon agreed terms.

 

Licensor______

 

    	Licensee_______
	1 of 4

    	 

    

 

PRELIMINARY LEGAL CONSIDERATIONS

 

6. This Letter of Intent is not to be read or regarded as creating
legally binding obligations between the parties. It is not capable of giving rise to any ground for a party to institute legal
proceedings of any kind against another party other than to enforce any obligation of confidentiality.

 

7. By signing this Letter of Intent, the parties signify their
unqualified intention to proceed without delay to give effect to their expressed intentions by negotiating and preparing licensing
and other documentation for approval by their respective Boards and subsequent signing.

 

8. The legal relationship between the parties is entirely that
of independent contractors. No partnership or joint venture or agency or relationship other than that of independent contractor
shall come into existence at any time.

 

FORMS OF LICENSE

 

9. The form of license to be granted by the Licensor is: [tick
as appropriate]

 

xFoundation
license granting a two (2) year period of general license granting no exclusivity.

 

10. The scope of the license granted by the Licensor is to be
determined at a later date with respect to geographic locations.

 

11. In all cases, the license term is to be for two year initially
with automatic renewal on yearly terms and terminable by the Licensee with twelve (12) months notice.

 

FINANCIAL TERMS

 

12. Upon execution of a licensing agreement between the Parties
the Licensee will pay the Licensor for the purchase of the Moto MeterTM at a set price and terms to be agreed upon by both
parties.

 

13. The license agreement is to grant the following minimum
rights in respect of the Technology to the Licensee:

 

(a) Right to use the Technology including all or part
of the intellectual property owned by the Licensor for the agreed purposes;

 

(b) Right to use agreed trademarks of the Licensor
including the description Moto MeterTM;

 

(c) Right to resell the Moto MeterTM in areas
as specified in Annexure ‘A’ hereto.

 

14. The license shall be accompanied by the following ancillary
agreements to be completed by the Licensee with the Licensor:

 

Licensor______

 

    	Licensee_______
	2 of 4

    	 

    

 

(a) Agreement covering the use of Moto MeterTM
supplied by World Moto Inc., Inc having a perpetual term;

 

(b) Product Implementation Agreement;

 

(c) Maintenance and/or warranty Agreement

 

GENERAL PROVISIONS

 

16. Included Terms

 

The license agreement governs all use of the Technology including
the primary use being the use of the Moto MeterTM products and all other ancillary uses to be outlines on the Agreement

 

17. Excluded Terms

 

The grant of rights under the license agreement shall not include
the following:

 

(a) The right of the Licensee to sub-license the Agreement;

 

(b) The right of the Licensee to assign or transfer
the license without the written consent of the Licensor;

 

(c) Any warranty by the Licensor as to suitability
of the Technology for the use contemplated by the Licensee or its compliance with local laws within the licensed territory.

 

18. Rights of the Licensee

 

Nothing in the license agreement shall impose on the Licensee
the following obligations:

 

(a) Minimum amounts of success fees payable to the
Licensor;

 

(b) Minimum performance requirements to maintain or
preserve license rights other than timely payment of license fees.

 

19. Rights of the Licensor

 

Nothing in the license agreement shall prevent the Licensor
from the following:

 

(a) Using the Technology or any or all of its intellectual
property for any market segment or within any territory either alone or in conjunction with business partners or joint venturers;

 

(b) Assigning, selling or transferring any or all
of its rights and obligations as Licensor to third parties without consent.

 

Licensor______

 

    	Licensee_______
	3 of 4

    	 

    

 

20. Confidentiality

 

Each party will maintain confidentiality as to the proposed
licensing arrangement until legally binding agreements are entered into. After that time disclosure should only be on terms agreed
to by both parties or as permitted in the binding agreements as may be required by applicable law except in the case that the Licensor
shall reserve the right to be able to issue a press release stating that the Licensor and Licensee have signed a Letter of Intent.

 

21. Preparation of Documentation

 

Licensor will promptly on completion of due diligence provide
initial draft licensing documentation described above conforming with the intention of the parties expressed in this Letter of
Intent no later than 90 days from the execution of this Letter of Intent.

 

22. Governing Law

 

This Letter of Intent is governed by the laws of the Kingdom
of Thailand and the Parties submit to the exclusive jurisdiction of the Courts of Thailand.

 

IN WITNESS WHEREOF the Parties have duly executed this
agreement by initialling each page and signing below as of the date on Page 1 of the Agreement.

 

	Per:	 	 
		Authorized Signatory	 
	 	 	 
		Name:  	 

 

	World Moto Inc.	 
	 	 
	Per:	 	 
	 	Authorized Signatory	 
	 	 	 
	 	Name: Paul Giles	 

 

Licensor______

 

    	Licensee_______
	4 of 4

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