Document:

Exhibit
10.6

 

ESCROW AGREEMENT

 

THIS ESCROW AGREEMENT
(this “Agreement”) is made as of March 22, 2018, by and between DPW Holdings, Inc., a Delaware corporation (the
“Company”) and Sichenzia Ross Ference Kesner LLP, with an address at 1185 Avenue of the American, 37th
Floor, New York, New York 10036 (the “Escrow Agent”).

 

W I T
N E S S E T H:

 

WHEREAS, the Lender
set forth on Schedule A (the “Lender”) has loaned the amount of $2,450,000 to the Company and been issued
a Promissory Note (the “Note”) in the principal face amount of $1,750,000, which Note, including accrued and
unpaid, will be paid out of funds sent to the Escrow Agent by the Company (such amount, the “Funds”);

 

WHEREAS, the Company
desires to establish an escrow account (the “Escrow Account”) for the Funds with the Escrow Agent and to deposit
and wire funds for the payment of money made payable to the order of “Sichenzia Ross Ference Kesner LLP, as Escrow Agent
for Plankton Enterprises, LLC at the direction of DPW Holdings, Inc.” and Escrow Agent is willing to accept wires for
the payment of money in accordance with the terms hereinafter set forth; and

 

WHEREAS, the Company
has requested that the Escrow Agent hold the Funds in escrow for the purchase of repaying the amounts due under the Notes until
the Escrow Agent receives the Release Notice in the form annexed hereto as Exhibit A (the “Release Notice”).

 

NOW, THEREFORE,
in consideration of the covenants and mutual promises contained herein and other good and valuable consideration, the receipt and
legal sufficiency of which are hereby acknowledged and intending to be legally bound hereby, the parties agree as follows:

 

ARTICLE I

TERMS OF THE ESCROW

 

1.1       The
Company hereby appoints Escrow Agent as escrow agent in accordance with the terms and conditions set forth herein and the Escrow
Agent hereby accepts such appointment. The parties hereby agree to establish the Escrow Account with the Escrow Agent whereby the
Escrow Agent shall hold the Funds as contemplated by this Agreement. Only those amounts which have been deposited in the Escrow
Account pursuant to Section 1.6 below and which have cleared the banking system and have been collected by the Escrow Agent, are
herein referred to as the “Funds.”

 

1.2       Upon
the Escrow Agent’s receipt of Funds from the Company into its master escrow account for the benefit of the Company, it shall
telephonically or via electronic mail advise the Company of the amount of funds it has received into its master escrow account.

 

1.3       Wire
transfers to the Escrow Agent shall be made as follows:

 

Citibank

153 East 53rd
Street

23rd Floor

New York, NY 10022

 

A/C of Sichenzia Ross
Ference Kesner LLP

A/C#:       
4974921703

ABA#:       
021000089

SWIFT Code:CITIUS33

Ref:       dpw
holdings, inc.

 

1.4       The
Escrow Agent shall, upon receipt of the Release Notice duly executed by the Company and written instructions from the Company specifying
the account to which Escrow Funds are to be delivered, wire the Escrow Funds in accordance with such written instructions. Wire
transfers to the Lenders shall be made pursuant to such written instructions from the Company provided to the Escrow Agent and
attached to the Release Notice on the date specified in such Release Notice (the “Release Date”).

 

    			 

    	 

    

 

1.5       The
Escrow Agent shall be entitled to compensation for its services in the amount of $5,000.00, which compensation shall be paid by
the Company on the date hereof. The fee agreed upon for the services rendered hereunder is intended as full compensation for the
Escrow Agent’s services as contemplated by this Agreement; provided, however, that in the event that the conditions for the
disbursement of funds under this Agreement are not fulfilled, or the Escrow Agent renders any service not contemplated in this
Agreement, or there is any assignment of interest in the subject matter of this Agreement, or any material modification hereof,
or if any material controversy arises hereunder, or the Escrow Agent is made a party to any litigation pertaining to this Agreement
or the subject matter hereof, then the Escrow Agent shall be compensated by the Company for such extraordinary services and reimbursed
for all costs and expenses, including reasonable attorneys’ fees and expenses, occasioned by any such delay, controversy,
litigation or event by the Company. If any amount due to the Escrow Agent hereunder is not paid within thirty (30) days of the
date due, the Escrow Agent in its sole discretion may charge interest on such amount up to the highest rate permitted by applicable
law.

 

1.6       Upon
disbursement of the Funds pursuant to the terms hereunder on or prior to the Release Date, the Escrow Agent shall be relieved of
further obligations and released from all liability under this Agreement. It is expressly agreed and understood that in no event
shall the aggregate amount of payments made by the Escrow Agent exceed the amount of the Funds.

 

1.7       The
Company has engaged H.C. Wainwright & Co., LLC (“HCW”) to act as its Agent pursuant to that certain At Market
Issuance Sales Agreement dated as of February 27, 2018 (the “Sales Agreement”). The Company shall deposit fifty
percent (50%) of all the proceeds derived from the Sales Agreement on a daily basis, each such deposit to occur on the next Business
Day following the Company’s receipt of such funds from HCW during the term of this Agreement.

 

 

ARTICLE II

MISCELLANEOUS

 

2.1       All
notices, demands, consents, requests, instructions and other communications to be given or delivered or permitted under or by reason
of the provisions of this Agreement or in connection with the transactions contemplated hereby shall be in writing to the intended
recipient as set forth on Schedule A hereto. Any and all notices or other communications or deliveries required or permitted
to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of (a) the date of transmission,
if such notice or communication is delivered via facsimile prior to 5:30 p.m. (Eastern Time) on a Business Day, (b) the next Business
Day after the date of transmission, if such notice or communication is delivered via facsimile on a day that is not a Business
Day or later than 5:30 p.m. (Eastern Time) on any Business Day, (c) the 2nd Business Day following the date of mailing, if sent
by U.S. nationally recognized overnight courier service, or (d) upon actual receipt by the party to whom such notice is required
to be given. As used herein, “Business Day” shall mean any day other than Saturday, Sunday or other day on which commercial
banks in the City of New York are authorized or required by law to remain closed.

 

2.2       No
waiver or any breach of any covenant or provision herein contained shall be deemed a waiver of any preceding or succeeding breach
thereof, or of any other covenant or provision herein contained. No extension of time for performance of any obligation or act
shall be deemed an extension of the time for performance of any other obligation or act.

 

2.3       This
Agreement shall be binding upon and shall inure to the benefit of the permitted successors and permitted assigns of the parties
hereto.

 

2.4       This
Agreement is the final expression of, and contains the entire agreement between, the parties with respect to the subject matter
hereof and supersedes all prior understandings with respect thereto. This Agreement may not be modified, changed, supplemented
or terminated, nor may any obligations hereunder be waived, except by written instrument signed by the parties to be charged or
by its agent duly authorized in writing or as otherwise expressly permitted herein.

 

    		2	 

    	 

    

 

2.5       From
time to time on and after the date hereof, the Company shall deliver or cause to be delivered to the Escrow Agent such further
documents and instruments and shall do and cause to be done such further acts as the Escrow Agent shall reasonably request (it
being understood that the Escrow Agent shall have no obligation to make any such request) to carry out more effectively the provisions
and purposes of this Agreement, to evidence compliance herewith or to assure itself that it is protected in acting hereunder.

 

2.6       Whenever
required by the context of this Agreement, the singular shall include the plural and masculine shall include the feminine. This
Agreement shall not be construed as if it had been prepared by one of the parties, but rather as if all parties had prepared the
same. Unless otherwise indicated, all references to Articles are to this Agreement.

 

2.7       The
parties hereto expressly agree that this Agreement shall be governed by, interpreted under and construed and enforced in accordance
with the laws of the State of New York. Any action to enforce, arising out of, or relating in any way to, any provisions of this
Agreement shall only be brought in a state or Federal court sitting in New York City.

 

2.8       This
Agreement and the rights and obligations hereunder of the Company may not be assigned. This Agreement and the rights and obligations
hereunder of the Escrow Agent may be assigned by the Escrow Agent, with the prior consent of the Company. The Escrow Agent’s
duties hereunder may be altered, amended, modified or revoked only in writing signed by the Company and the Escrow Agent.

 

2.9       The
Escrow Agent shall be obligated only for the performance of such duties as are specifically set forth herein and may rely and shall
be protected in relying or refraining from acting on any instrument reasonably believed by the Escrow Agent to be genuine and to
have been signed or presented by the proper party or parties. The Escrow Agent shall not be personally liable for any act the Escrow
Agent may do or omit to do hereunder as the Escrow Agent while acting in good faith and in the absence of gross negligence, fraud
and willful misconduct, and any act done or omitted by the Escrow Agent pursuant to the advice of the Escrow Agent’s attorneys-at-law
shall be conclusive evidence of such good faith, in the absence of gross negligence, fraud and willful misconduct.

 

2.10       The
Escrow Agent is hereby expressly authorized to disregard any and all warnings given by any of the parties hereto or by any other
person or corporation, excepting only orders or process of courts of law and is hereby expressly authorized to comply with and
obey orders, judgments or decrees of any court. In case the Escrow Agent obeys or complies with any such order, judgment or decree,
the Escrow Agent shall not be liable to any of the parties hereto or to any other person, firm or corporation by reason of such
decree being subsequently reversed, modified, annulled, set aside, vacated or found to have been entered without jurisdiction.

 

2.11       The
Escrow Agent shall not be liable in any respect on account of the identity, authorization or rights of the parties executing or
delivering or purporting to execute or deliver any documents or papers deposited or called for thereunder in the absence of gross
negligence, fraud or willful misconduct.

 

2.12       The
Escrow Agent shall be entitled to employ such legal counsel and other experts as the Escrow Agent may deem necessary properly to
advise the Escrow Agent in connection with the Escrow Agent’s duties hereunder, may rely upon the advice of such counsel,
and may pay such counsel reasonable compensation; provided that the costs of such compensation shall be borne by the Escrow Agent.

 

2.13       The
Escrow Agent’s responsibilities as escrow agent hereunder shall terminate if the Escrow Agent shall resign by giving at least
five (5) days written notice (the “Notice Period”) to the Company. In the event of any such resignation, the
Company shall appoint a successor Escrow Agent and the Escrow Agent shall deliver to such successor Escrow Agent any escrow funds
and other documents held by the Escrow Agent. If no new agent is so appointed within the Notice Period, the Escrow Agent shall
return the Funds to the Company without interest or deduction.

 

2.14       If
the Escrow Agent reasonably requires other or further instruments in connection with this Agreement or obligations in respect hereto,
the necessary parties hereto shall join in furnishing such instruments.

 

    		3	 

    	 

    

 

2.15       It
is understood and agreed that should any dispute arise with respect to the delivery and/or ownership or right of possession of
the Funds held by the Escrow Agent hereunder, the Escrow Agent is authorized and directed in the Escrow Agent’s sole discretion
(1) to retain in the Escrow Agent’s possession without liability to anyone all or any part of said documents or the escrow
funds until such disputes shall have been settled either by mutual written agreement of the parties concerned by a final order,
decree or judgment or a court of competent jurisdiction after the time for appeal has expired and no appeal has been perfected,
but the Escrow Agent shall be under no duty whatsoever to institute or defend any such proceedings or (2) to deliver the escrow
funds and any other property and documents held by the Escrow Agent hereunder to a state or Federal court having competent subject
matter jurisdiction and located in the City of New York in accordance with the applicable procedure therefore.

 

2.16       The
Company agrees to indemnify and hold harmless the Escrow Agent and its partners, employees, agents and representatives from any
and all claims, liabilities, costs or expenses in any way arising from or relating to the duties or performance of the Escrow Agent
hereunder or the transactions contemplated hereby other than any such claim, liability, cost or expense to the extent the same
shall have been determined by final, unappealable judgment of a court of competent jurisdiction to have resulted from the gross
negligence, fraud or willful misconduct of the Escrow Agent.

 

2.17       This
Agreement may be executed in a number of counterparts, by facsimile, each of which shall be deemed to be an original as of those
whose signature appears thereon, and all of which shall together constitute one and the same instrument. This Agreement shall become
binding when one or more of the counterparts hereof, individually or taken together, are signed by all the parties.

 

[signature pages follow]

 

    		4	 

    	 

    

 

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

 

	DPW HOLDINGS, INC.	
         

         

         

         

         

	By:	 	 
	 	Name:	 
	 	Title:	 

 

  

	
        ESCROW AGENT:

         
	 
	
        SICHENZIA ROSS FERENCE KESNER LLP

         

         
	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

    			 

    	 

    

  

SCHEDULE A

 

Escrow Agent

Sichenzia Ross Ference Kesner LLP

1185 Avenue of the Americas, 37th
Floor

New York, New York 10016

Attention: Marc J. Ross, Esq.

Telephone: (212) 930-9700

Email: mross@srfkllp.com

 

Company

DPW Holdings, Inc.

48430 Lakeview Blvd

Fremont, CA 94538-3158

Attention: Milton C. Ault III

Telephone: (510) 657-2635

Email: todd@dpwholdings.com

 

Lender:

 

Plankton Enterprises, LLC

Amount Lent: $1,250,000

Address: 84 White Hill Road, Cold Spring
Harbor, New York 11724

Attention: Stephen Lerner, Managing Member

Email: steve@lernerfamily.org

 

    			 

    	 

    

 

Exhibit A to

Escrow Agreement

RELEASE NOTICE

 

The UNDERSIGNED, pursuant to the Escrow
Agreement, dated as of March __, 2018 (the “Escrow Agreement”), by and between DPW Holdings, Inc., a Delaware
corporation (the “Company”) and Sichenzia Ross Ference Kesner LLP, with an address at 1185 Avenue of the Americas,
New York, New York 10036 (the “Escrow Agent”). Capitalized terms used herein and not defined shall have the
meaning ascribed to such terms in the Escrow Agreement. The Company hereby notifies the Escrow Agent that the Funds should be released
to the Lenders upon receipt hereof.

 

The Company authorizes the release by the
Escrow Agent of the Funds to the Lender on Schedule A hereof.

 

IN WITNESS WHEREOF, the undersigned has
caused this Release Notice to be duly executed and delivered as of this ______ day of _________, 2018.

 

 

	DPW HOLDINGS, INC.	
         

         

         

         

         

	By:	 	 
	 	Name:	 
	 	Title:Exhibit
10.9

 

Media
Advertising Agreement

 

This Agreement (the
“Agreement”) is made this April 27, 2018 (the “Execution Date”), by and between Al & J Media INC.
Located at 48 Wall Street, 11th Floor, New York, New York 10005 hereinafter sometimes referred to as Consultant
and DPW Holdings, Inc. located at 201 Shipyard Way, Suite E, Newport Beach CA 92663, United States hereinafter sometimes
referred to as the Company.

 

WHEREAS, Consultant
is a media company which specializes in assisting companies identify the proper media outlets which allow companies to disseminate
information about their business plan. Al & J Media INC. does not and will not promote said company. The Consultant
is strictly a media agent for advertising.

 

WHEREAS, the Company,
its subsidiaries, affiliates, directors, representatives and clients, collectively referred to as the Company, desires to
have Consultant identify and arrange meeting(s) with advertising sources for DPW Holdings, Inc. 

 

WHEREAS, the Company
desires to retain Consultant for the purposes of consulting with the Company for potential sources of media in addition
to making strategic advertising introductions.

 

WHEREAS, Consultant
is willing to accept the Company as a client.

 

NOW THEREFORE, in
consideration of the mutual covenants herein contained, it is agreed:

 

		1.	ENGAGEMENT: Consulting services (the “Services”) consist of the following: Consultant
will introduce the Company to potential sources of media, marketing agreement(s) and/or other strategic alliances which
may benefit the Company in the performance of implementing its business plan(s), including but not limited to radio and
television media spots; various media publications; and internet podcasts.

 

		2.	TIME OF PERFORMANCE: The Services to be performed under this Agreement

shall commence
upon execution of this Agreement and shall continue until completion, which is generally expected to be (180) one hundred and eighty
days.

 

		3.	COMPENSATION TO BE PAID BY THE COMPANY: The Company agrees to pay a fee to Consultant
for the Services described herein and pay for work performed on behalf of the Company in the form of cash and/or common
stock as agreed by the parties. Said fees are payable as follows:

 

i.       $25,000
USD due in cash at execution of this agreement,

ii.      415,000
restricted DPW shares due at execution date,

iii.     $25,000
USD due in cash 30 days after execution date,

iv.     $25,000
USD due in cash 60 days after execution date,

v.      $25,000
USD due in cash 91 days after execution date,

vi.     83,000
restricted DPW shares due 91 days after execution date,

vii.    $25,000
USD due in cash 120 days after execution date, and

viii.    $25,000
USD due in cash 150 days after execution date,

 

    	 	 	 

    	 

    

 

 

All cash
payments shall be made by wire transfer as follows:

 

Account
Name: Al & J Media, Inc.

TD Bank,
535 Columbus Ave., New York, NY 10024

ABA No.
026013673

Account
No.: 4315085393

 

 

		4.	LIMITATION OF LIABILITY: If Consultant fails to perform its duties under the Agreement,
its entire liability to the Company shall not exceed the amount of compensation Consultant has received from the
Company. The company’s entire liability under this contract shall not exceed the payment in cash.

 

		5.	CONFIDENTIALITY/NONDISCLOSURE/NON-CIRCUMVENTION:

 

		6.	Until such time as the same may become publicly known, Consultant agrees that any information
of a confidential nature will not be revealed or disclosed to any person or entity, except in the performance of this Agreement,
and upon written request of the Company all materials provided by the Company will be returned to the Company.

 

		7.	NOTICES: All notices hereunder shall be in writing and addressed to the party at the address herein
set forth, or at such other address as to which notice pursuant to this section may be given, and shall be given by personal delivery,
by certified mail, express mail, or national overnight courier services. Notices will be deemed given upon the earlier of the actual
receipt or three (3) business days after being mailed or delivered to such courier service.

 

Notices shall
be addressed to Consultant at:

Al &
J Media INC.

48 Wall
Street, 11th Floor

New York, NY 10005 

 

Notices
shall be addressed to Company at:

DPW
Holdings, Inc.

201
Shipyard Way, Suite E 

Newport
Beach, CA 92663 

United
States

 

Any notices to
be given hereunder will be effective if executed by and sent by the attorneys for the parties giving such notice, and in connection
therewith the parties and their respective counsel agree that in giving such notice such counsel may communicate directly in writing
with such parties to the extent necessary to giving such notice.

 

		8.	SEPARABILITY: If one or more of the provisions of this Agreement shall be held invalid, illegal
or unenforceable in any respect, such provision, to the extent invalid, illegal or unenforceable, and provided that such provision
is not essential to the transaction provided for by this Agreement, shall not affect other provisions hereof, and the Agreement
shall be construed as if such provision had been contained herein.

 

    	 	 	 

    	 

    

 

		9.	MISCELLANEOUS:

 

		i.	Governing Law: This Agreement shall be governed by the laws of the State of New York , New York
County, and of the United States District Court for the Southern District of New York for any lawsuits, actions or other proceedings
arising out of or relating to this Agreement and agree not to commence any such lawsuit, action or other proceeding except in such
courts. The Company and the Consultant further agree that service of any process, summons, notice or document by mail, return receipt
requested, to the address of such party set forth above shall be effective service of process for any lawsuit, action or other
proceeding brought against such party in any such court. The Company and the Consultant hereby irrevocably and unconditionally
waive any objection to the laying of venue of any lawsuit, action or other proceeding arising out of or relating to this Agreement
in the courts of the State of New York, New York County, and of the United States District Court for the Southern District of New
York, and hereby further irrevocably and unconditionally waive and agree not to plead or claim in any such court that any such
lawsuit, action or other proceeding brought in any such court has been brought in an inconvenient forum.;

 

		ii.	Currency: In all instances, references to dollars shall be deemed to be United States dollars;

 

		iii.	Multiple Counterparts: This Agreement may be executed in multiple counterparts, each of which shall
be deemed an original. It shall be necessary that each part execute each counterpart.

 

		iv.	Amendment. This Agreement may only be amended or modified in a

writing
signed by both of the parties and referring to this Agreement.

 

		10.	ENTIRE AGREEMENT. This Agreement constitutes the entire agreement and final understanding of the
parties with respect to the subject matter of this Agreement and supersedes and terminates all prior and/or contemporaneous understandings
and/or discussions between the parties, whether written or verbal, express or implied, relating in any way to the subject matter
of this Agreement. Executed as a sealed instrument as of the day and year first above written.

 

 

	Al & J Media INC. 	 
	 	 	 
	 	 	 
	 	 	 
	By: 	 	 
	 	Alexander Antonopoulos,	 
	 	Duly Authorized Signatory	 
	 	 	 
	 	 	 
	 	 	 
	DPW Holdings, Inc. 	 
	 	 	 
	 	 	 
	 	 	 
	By: 	 	 
	 	Mr. Milton C. Ault, III	 
	 	CEO and Chairman

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