Document:

Exhibit 10.4

 

AMENDMENT NO. 1
TO EMPLOYMENT AGREEMENT (this “Amendment”), effective as of September 13, 2019, 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 LOKESH MEHTA (“Employee”), an individual having
an address at 5447 31st Ave SW, Seattle, WA 98126.

 

W I T N E S S E T H :

 

WHEREAS, Company
and Employee are parties to the Employment Agreement dated December 7, 2018 (the “Original Agreement”);

 

WHEREAS, Company
and Employee desire to amend the Original Agreement pursuant to this Amendment to amend the terms and conditions of the Additional
Compensation set forth in Schedule 2(c) attached to the Original Agreement.

 

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.    
Definitions. 

 

(a)            
The term “Agreement” means the Original Agreement as amended by this Amendment.

 

(b)            
Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Original Agreement.

 

2.    
Additional Compensation. Schedule 2(c) to the Original Agreement is amended in its entirety as set forth
in the attached Amended Schedule 2(c).

 

3.    
Nature of Employment. Section 1(b) of the Original Agreement is amended as follows:

 

“(b) Devotion. Throughout
the Employment Period, Employee will: (i) devote reasonable business energies, interests, abilities and time to the performance
of his duties to Company hereunder and to any subsidiaries and affiliates of Company, (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.”

 

4.    
Indemnification. Section 2(f) of the Original Agreement is amended to read in its entirety as follows:

 

“(f)Indemnification.
Company shall cause Mobiquity Technologies, Inc., a New York corporation (“Mobiquity”) which is the sole member
of the Company, to indemnify Employee to the extent provided in its then current Certificate of Incorporation and bylaws, as they
may be amended and/or restated from time-to-time, but in no event to any extent less favorable than as provided in Mobiquity’s
current Certificate of Incorporation and bylaws in effect on the date of this Amendment, which rights shall continue to apply to
Employee notwithstanding any amendment or repeal of such sections. Company shall cause Mobiquity to use reasonable best efforts
to include Employee as an insured under all applicable directors’ and officers’ liability insurance policies maintained
by Mobiquity, and any other subsidiary or affiliated business of Mobiquity, including, without limitation Company. Solely in consideration
for Company’s agreement as set forth in this clause (f), 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 and Mobiquity, as
requested by Company or Mobiquity, 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.”

 

 

 

    	 	1	 

     

    

 

5.    
Vacation and Paid Time Off. Section 2(g) of the Original Agreement is amended to read in its entirety as follows:

 

“(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 six (6) weeks of paid vacation per contract year
beginning as of the Effective Date at such times as are reasonably acceptable to Company. Any paid vacation accrued and not used
by each anniversary of the Effective Date shall carry over to the next contract year, or shall be compensated for in cash at a
daily rate determined by dividing Employee’s Base Salary by 365.”

 

6.    
Automobile Allowance. During the Employment Period, the Company shall provide the Executive with a monthly automobile
allowance of no more than Five Hundred and Fifty Dollars ($550.00) per month to cover lease or purchase finance costs of an automobile.

 

7.    
Restrictive Covenants. Section 4(a) of the Original Agreement is deleted in its entirety.

 

8.    
Discoveries. Section 6(a) of the Original Agreement is amended to read in its entirety as follows:

 

“(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 Discoveries are in the Business of “digital and mobile advertising based on Open RTB protocol as defined by the
Internet Advertising Bureau”, 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.

 

9.    
Miscellaneous. 

 

(a)            
The Original Agreement, as amended by this Amendment, shall continue in full force and effect in accordance with the terms
thereof and hereof, and together they constitute the Agreement. From and after the date hereof, all references to the Original
Agreement wherever made shall refer to the Original Agreement as amended by this Amendment.

 

(b)            
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.

 

[Remainder of
page intentionally left blank; signature page follows.]

 

 

    	 	2	 

     

    

 

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: Manager
	 	 
	 	 
	 	EMPLOYEE:
	 	 
	 	/s/ Lokesh Mehta
	 	LOKESH MEHTA
	 	 
	 	 
	 	AGREED WITH RESPECT TO
	 	SECTION 3, AND AMENDED
	 	SCHEDULE 2(c) PARAGRAPHS 1
	 	AND 2 ONLY:
	 	 
	 	MOBIQUITY TECHNOLOGIES, INC.
	 	 
	 	 
	 	By: /s/ Dean Julia  
	 	       Name: Dean Julia
	 	       Title: CEO

 

 

 

 

    	 	3	 

     

    

 

Amended Schedule 2(c)

 

Additional Compensation

 

1.              
Redemption of Class B Preferred Stock. Effective as of the date of the Amendment, the Class B Preferred Stock shall
be redeemed in accordance with the Class B Preferred Stock Redemption Agreement of even date herewith (the “Redemption
Agreement”) between Mobiquity Technologies, Inc., a New York corporation (“Mobiquity”) which is the
sole member of the Company, and Employee, and Employee shall have no rights under or in connection with the Class B Preferred Stock
ab initio, as further set forth in the Redemption Agreement.

 

		2.	Bonus Rights.

 

2.1.         
Subject to the terms and conditions set forth in this Agreement, Employee is hereby awarded a bonus equal to one percent
(1%) of Mobiquity’s gross revenue (the “Gross Revenue”), for each completed fiscal month during the 2019
fiscal year, provided that the Gross Revenue meets or exceeds seventy-five percent (75%) of the Gross Revenue targets for the applicable
fiscal month set forth on Exhibit A. The bonus shall be paid on a quarterly basis for the three (3) months in the fiscal
quarter (the “Quarterly Bonus”) as provided in Paragraph 2.3. The bonus for January 2019 to June 2019 will be
paid in cash by September 16, 2019.

 

2.2.         
For the purposes of determining the Quarterly Bonus (if any), the Mobiquity’s monthly Gross Revenue shall be determined
under generally accepted accounting principles, consistently applied, in connection with the preparation of the Mobiquity’s
financial statements which are included in the Mobiquity’s Quarterly Report on Form 10-Q (for the first three quarters of
2019) and Annual Report on Form 10-K (for the fourth quarter of 2019), provided that Commissions (as defined herein)
paid to Employee under Paragraph 3.1 shall be excluded from Gross Revenue (to the extent they are included in Mobiquity’s
Gross Revenue), in determining the Quarterly Bonus.

 

2.3.         
The Quarterly Bonus shall be paid no later than fourteen (14) days following (a) the date of this Amendment with respect
to the Quarterly Bonuses relating to the first and second fiscal quarters of 2019, (b) Mobiquity’s filing of its Quarterly
Report on Form 10-Q for the fiscal quarter ended on September 30, 2019 with respect to the Quarterly Bonus relating to the third
fiscal quarter of 2019, and (c) Mobiquity’s filing of its Annual Report on Form 10-K for the fiscal year ended on December
31, 2019 with respect to the Quarterly Bonus relating to the fourth fiscal quarter of 2019.

 

2.4.         
Each Quarterly Bonus may be paid by the Company, as determined by Employee in his discretion, in cash or common stock of
the Mobiquity, par value $0.0001 per share (the “Common Stock”), or a combination thereof.

 

2.5.         
If the Quarterly Bonus is paid in Common Stock of Mobiquity, the number of shares of Common Stock issued shall be determined
based on the Fair Market Value of the Common Stock. “Fair Market Value” of the shares of Common Stock means,
as of any particular date: (a) the volume weighted average of the closing sales prices of the Common Stock for such day on all
domestic securities exchanges on which the Common Stock may at the time be listed; (b) if there have been no sales of the Common
Stock on any such exchange on any such day, the average of the highest bid and lowest asked prices for the Common Stock on all
such exchanges at the end of such day; (c) if on any such day the Common Stock is not listed on a domestic securities exchange,
the closing sales price of the Common Stock as quoted on the OTC Bulletin Board, the Pink OTC Markets or similar quotation system
or association for such day; or (d) if there have been no sales of the Common Stock on the OTC Bulletin Board, the Pink OTC Markets
or similar quotation system or association on such day, the average of the highest bid and lowest asked prices for the Common Stock
quoted on the OTC Bulletin Board, the Pink OTC Markets or similar quotation system or association at the end of such day; in each
case, averaged over thirty (30) consecutive Business Days ending on the Business Day immediately prior to the day as of which “Fair Market Value”
is being determined; provided, that if the Common Stock is listed on any domestic securities exchange, the term “Business
Day” as used in this Paragraph 2.5 means days on which such exchange is open for trading. If at any time the Common Stock
is not listed on any domestic securities exchange or quoted on the OTC Bulletin Board, the Pink OTC Markets or similar quotation
system or association, the “Fair Market Value” of the Common Stock shall be based on the fair market
value per share as determined by the Board of Directors of Mobiquity in good faith, whose determination shall be final and
binding, absent manifest error.

 

 

 

    	 	4	 

     

    

 

2.6.         
The Company shall be entitled to deduct and withhold from the amount of the Quarterly Bonus all taxes that the Company
and the Company may be required to deduct and withhold under any provision of tax law. All such withheld amounts shall be treated
as delivered to Employee hereunder. Whenever shares of common stock are to be delivered to Employee in payment of the Quarterly
Bonus, the Company shall be entitled to require as a condition of delivery that Employee remit or, at the discretion of the Chief
Executive Officer of the Company, agree to remit when due, an amount sufficient to satisfy all current or estimated future federal,
state and local income tax withholding requirements, including, without limitation, the employee’s portion of any employment
tax requirements relating thereto. The Chief Executive Officer of the Company may, in his discretion, provide Employee with the
right to use shares of Mobiquity common stock in satisfaction of all or part of the withholding taxes to which he may become subject
in connection with the payment of the Quarterly Bonus Such right may be provided to Employee in either or both of the following
formats: (a) the election to have the Company withhold, from the shares of common stock otherwise issuable in respect of the Quarterly
Bonus, a portion of those shares with an aggregate Fair Market Value equal to the percentage of the withholding taxes (not to exceed
100%) designated by Employee; and/or (b) the election to deliver to the Company, at the time the Quarterly Bonus is paid, one or
more shares of Mobiquity common stock previously acquired by Employee with an aggregate Fair Market Value equal to the percentage
of the withholding taxes (not to exceed 100%) designated by Employee.

 

2.7.         
Employee’s rights to each Quarterly Bonus and the Company’s obligation to pay such Quarterly Bonus is expressly
conditioned upon Employee being employed by Company (or its successor or assign) in accordance with the Employment Agreement at
the end of the fiscal quarter to which such Quarterly Bonus Relates. Additionally, if Employee’s employment is terminated
by Company for “Cause”, or Employee resigns from employment with Company without “Good Reason”, Company
shall have no obligation to pay, and Employee shall not be entitled to, any Quarterly Bonus which is unpaid on the date of such
termination or resignation, whether earned or unearned.

 

3.              
Commissions.

 

3.1.         
Employee shall be entitled to a commission (the “Commission”) equal to five percent (5%) of the Net Revenues
(as defined herein) of all New Katyal Managed Accounts (as defined herein).

 

3.2.         
The following terms have the following meanings:

 

(a)      
“Net Revenue” means gross revenue actually collected from a New Katyal Managed Account, less all
publisher payments, commission payable to other Company employees or contractors or third-parties and publishing costs attributable
to such New Katyal Managed Account. For clarity, if Katyal is due ten (10%) percent commission and another employee is due four
(4%) percent for the same account, then Katyal will be entitled to six (6%) percent, which is 10% minus 4%.

 

(b)      
“New Katyal Managed Accounts” means accounts directly introduced by Deepankar Katyal or assigned to Deepankar
Katyal in writing by the Manager of the Company. The clients currently under management are Sadler Strategic, Bask and Entravision.

 

3.3.         
Commissions will be payable no later than fourteen (14) days following Company’s filing of its Quarterly Report on
Form 10-Q, with respect to Net Revenues on the New Katyal Managed Accounts actually received by the Company during the fiscal quarter
to which the Quarterly Report on Form 10-Q relates.

 

3.4.         
The Company may reduce future Commission payments in the event of any refund to or credit to any New Katyal Managed Account
of any amount upon which previously paid Commission was based, for any reason whatsoever. In the event of any such refund or credit,
future Commission payments to Employee will be reduced by the same proportionate amount that the Net Revenue was reduced by such
refunds or credits.

 

4.              
Options. Employee shall be granted Stock Purchase Options (the “Options”) to purchase the following
number of shares of common stock of Mobiquity, $0.0001 par value per share (the “Mobiquity Option Shares”),
subject to adjustment as set forth in the Option Agreement for the Options (the “Option Agreement”), at an exercise
price of Nine Cents ($0.09) per share, subject to adjustment as set forth in the Option Agreement, for an exercise period of five
(5) years from the following vesting dates, provided that Employee must be an employee or contractor of Company or
Mobiquity on the vesting date of a tranche in order for such tranche to vest:

 

	Number of Mobiquity Option Shares 	Vesting Date
	10,000,000	Date of this Agreement
	5,000,000	First one-year anniversary date of the date of this Agreement

 

 

-End-

 

Employee Initials: ___

Company Initials: ___

 

 

    	 	5	 

     

    

 

 

EXHIBIT A

 

2019 GROSS REVENUE TARGETS

 

	2019	Monthly Revenue Target 
	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 

 

 

    	 	6Exhibit 10.5

 

CLASS B PREFERRED STOCK REDEMPTION
AGREEMENT

 

CLASS B PREFERRED
STOCK REDEMPTION AGREEMENT (this “Agreement”), dated as of September 13, 2019, by and between MOBIQUITY
TECHNOLOGIES, INC., a New York corporation (the “Company”), having an address at 35 Torrington Lane, Shoreham,
New York 11786 (the “Company”) and LOKESH MEHTA, an individual (“Mehta”), having an
address at 5447 31st Ave SW, Seattle, WA 98126.

 

RECITALS

 

WHEREAS, Mehta
is a holder of one (1) share of Class B Preferred Stock, $0.0001 par value per share, of the Company (the “Class B Stock”);
and

 

WHEREAS, the
Company issued the Class B Stock to Mehta pursuant to the Employment Agreement dated December 7, 2018 (the “Employment
Agreement”) between Advangelists, LLC, a Delaware limited liability company (“Advangelists”) which
is a wholly-owned subsidiary of the Company, and Mehta; and

 

WHEREAS, on
even date herewith the Employment Agreement was amended pursuant to Amendment No. 1 to Employment Agreement (the “Employment
Agreement Amendment”), which Employment Agreement Amendment provides that the Company shall redeem the Class B Stock
from Mehta.

 

NOW, THEREFORE,
in consideration of the representations, warranties, covenants and agreements set forth in this Agreement and the Employment Agreement
Amendment, and for other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties
hereto hereby agree as follows:

 

1.              
Redemption of Class B Shares.

 

1.1.         
Redemption. Effective as of the date of this Agreement, Mehta hereby sells, assigns, transfers, conveys and delivers
to the Company, and the Company hereby redeems and accepts from Mehta, all of Mehta’s right, title and interest in and to
the Class B Stock, free and clear of any and all liens, charges, pledges, security interests, claims, mortgages, options, encumbrances,
rights of first refusal, conditions, covenants and other restrictions (“Liens”).

 

1.2.         
Consideration. In consideration for the redemption of the Class B Stock, the Company and Mehta have entered into
the Employment Agreement Amendment, among other good and valuable consideration.

 

1.3.         
Dividends. No dividends earned or payable pursuant to the terms of the Class B Stock prior to the date hereof (if
any) are deemed earned or payable and are cancelled and void ab initio; and Mehta shall have no rights to any such dividends,
and he hereby fully and absolutely releases any and all rights and claims to any such dividends that he has or may have.

 

2.              
Deliveries.

 

2.1.         
On the date hereof, Mehta shall deliver to the Company the following:

 

(i)             
a signed counterpart to this Agreement;

 

(ii)           
A stock power referencing the Class B Stock as uncertificated, duly endorsed by Mehta in blank, together with any other
documents necessary in order to transfer the shares to the Company.

 

2.2.         
On the date hereof, the Company shall deliver to Mehta a signed counterpart to this Agreement.

 

 

 

    	 	1	 

     

    

 

3.              
Representations and Warranties of the Company. The Company hereby represents and warrants to Mehta that:

 

3.1.          
The Company is a corporation duly organized, validly existing and in good standing under the laws of the state of New York.
The Company has full corporate power and authority to enter into this Agreement and the documents to be delivered hereunder,
to carry out its obligations hereunder and to consummate the transactions contemplated hereby. The execution, delivery and performance
by the Company of this Agreement and the documents to be delivered hereunder and the consummation of the transactions
contemplated hereby have been duly authorized by all requisite corporate action on the part of the Company. This Agreement and
the documents to be delivered hereunder have been duly executed and delivered by the Company, and (assuming due authorization,
execution and delivery by Mehta) this Agreement and the documents to be delivered hereunder constitute legal, valid and
binding obligations of the Company enforceable against the Company in accordance with their respective terms.

 

3.2.          
The execution, delivery and performance by the Company of this Agreement and the documents to be delivered hereunder,
and the consummation of the transactions contemplated hereby, do not and will not: (a) violate or conflict with the certificate
of incorporation, by-laws or other organizational documents of the Company; or (b) violate or conflict with any judgment, order,
decree, statute, law, ordinance, rule or regulation applicable to the Company.

 

3.3.          
No broker, finder or investment banker is entitled to any brokerage, finder's or other fee or commission in connection with
the transactions contemplated by this Agreement based upon arrangements made by or on behalf of the Company.

 

3.4.          
There is no claim, action, suit, proceeding or governmental investigation ("Action")  pending or,
to the Company’s knowledge, threatened against or by the Company or any affiliate of the Company that challenges or seeks
to prevent, enjoin or otherwise delay the transactions contemplated by this Agreement. No event has occurred or circumstances
exist that may give rise or serve as a basis for any such Action.

 

4.              
Representations and Warranties of Mehta. Mehta hereby represents and warrants to the Company that:

 

4.1.         
Mehta has full power and authority to enter into this Agreement and the documents to be delivered hereunder, to
carry out his obligations hereunder and to consummate the transactions contemplated hereby. This Agreement and the documents
to be delivered hereunder have been duly executed and delivered by Mehta, and (assuming due authorization, execution and delivery
by the Company) this Agreement and the documents to be delivered hereunder constitute legal, valid and binding obligations
of Mehta, enforceable against Mehta in accordance with their respective terms.

 

4.2.         
The execution, delivery and performance by Mehta of this Agreement and the documents to be delivered hereunder,
and the consummation of the transactions contemplated hereby, do not and will not: (a) violate or conflict with any judgment, order,
decree, statute, law, ordinance, rule or regulation applicable to Mehta; (c) conflict with, or result in (with or without notice
or lapse of time or both) any violation of, or default under, or give rise to a right of termination, acceleration or modification
of any obligation or loss of any benefit under any contract or other instrument to which Mehta is a party; or (d) result in the
creation or imposition of any Lien on the Class B Stock.

 

4.3.         
There is no Action of any nature pending or, to Mehta's knowledge, threatened against or by Mehta (a) relating to or affecting
the  Class B Stock; or (b) that challenges or seeks to prevent, enjoin or otherwise delay the transactions contemplated by
this Agreement. No event has occurred or circumstances exist that may give rise to, or serve as a basis for, any such Action.

 

4.4.         
Mehta is the sole legal, beneficial, record and equitable owner of the Class B Stock, free and clear of any and all
Liens whatsoever.

 

4.5.         
No broker, finder or investment banker is entitled to any brokerage, finder's or other fee or commission in connection with
the transactions contemplated by this Agreement based upon arrangements made by or on behalf of Mehta.

 

5.              
Miscellaneous.

 

5.1.         
Further Assurances. Following the date hereof, each of the parties hereto shall execute and deliver such additional
documents, instruments, conveyances and assurances, and take such further actions as may be reasonably required to carry out the
provisions hereof and give effect to the transactions contemplated by this Agreement.

 

 

 

    	 	2	 

     

    

 

5.2.         
Governing Law; Waiver of Jury Trial. This Agreement shall be governed by the internal law of the State of New York
without regard to the choice of law provisions of any jurisdiction. Each party hereto irrevocably submits to the exclusive jurisdiction
of the courts located within Suffolk County, New York for the purposes of any action or claim arising out of this Agreement or
any transaction contemplated hereby, and agrees to commence any such action or claim only in such courts. Each party acknowledges
and agrees that any controversy which may arise under this Agreement is likely to involve complicated and difficult issues
and, therefore, each such party irrevocably and unconditionally waives any right it may have to a trial by jury in respect of any
legal action arising out of or relating to this Agreement or the transactions contemplated hereby.

 

5.3.         
Counterparts; Signatures. 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. Counterparts may be delivered via facsimile,
electronic mail (including pdf) or other transmission method and any counterpart so delivered shall be deemed to have been duly
and validly delivered and be valid and effective for all purposes.

 

5.4.         
Headings. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered
in construing or interpreting this Agreement.

 

5.5.         
Expenses. Except as expressly set forth herein, each party hereto shall bear its own costs and expenses in connection
with this Agreement and the transactions contemplated hereby, including all legal, accounting, financial advisory, consulting and
all other fees and expenses of third parties, whether or not the transactions contemplated by this Agreement are consummated.

 

5.6.         
Amendments. This Agreement shall not be amended, modified or terminated except by a written agreement dated subsequent
to the date of this Agreement and signed on behalf of the Company and Mehta.

 

5.7.         
Severability. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability
of any other provision.

 

5.8.         
Entire Agreement. This Agreement and the other agreements, documents and instruments referred to herein or contemplated
hereby constitute the full and entire understanding and agreement between the parties with respect to the subject matter hereof,
and any other written or oral agreement relating to the subject matter hereof existing between the parties are expressly canceled.

 

5.9.          
Representation by Counsel; Interpretation. The parties hereto acknowledge that this Agreement has been prepared by
Ruskin Moscou Faltischek, P.C. (“RMF”), counsel for the Company. The parties hereto further acknowledge that
RMF has not provided any tax advice or guidance to either of the parties hereto with respect to the transactions contemplated herein.
Mehta further acknowledges that it has been afforded the opportunity to be represented by counsel in connection with this Agreement
and the transactions contemplated hereby and it has either done so or elected not to do so. 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 the parties hereto. The provisions of this Agreement shall be interpreted in a
reasonable manner to give effect to the intent of the parties hereto.

 

[Remainder
of Page Intentionally Left Blank; Signature Page Follows]

 

 

 

 

 

    	 	3	 

     

    

 

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

 

	 	/s/ Lokesh Mehta
	 	LOKESH MEHTA
	 	 
	 	 
	 	 
	 	MOBIQUITY TECHNOLOGIES, INC.
	 	 
	 	 
	 	 
	 	By: /s/ Dean Julia
	 	       Name:   Dean Julia
	 	       Title:   Chief Executive Officer

 

 

 

 

    	 	4

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