Document:

Exhibit 10.1

 

EXCLUSIVE
INTELLECTUAL PROPERTY LICENSE AND ROYALTY AGREEMENT

 

This
Exclusive Intellectual Property License and Royalty Agreement (the “Agreement”) is made and entered
into by and between Gopher Protocol Inc., a Nevada corporation having its principal place of business at 2500 Broadway, Suite
F-125, Santa Monica, California 90404 (“GOPH”), and GBT Technologies, S.A., a Costa Rican corporation with
offices located at EBC Building, 9th floor, Escazu, San Jose 10203 (“GBT”).

 

RECITALS

 

WHEREAS,
GOPH specializes in the creation of Internet of Things (IoT) and Artificial Intelligence enabled mobile technologies (the
“GOPH Business”);

 

WHEREAS,
GOPH engaged Danny Rittman pursuant to that certain Amended and Restated Employment Agreement dated April 19, 2016 and has
entered into that certain letter agreement dated September 7, 2018 clarifying that all intellectual property relating to the GOPH
Business developed by Dr. Rittman is owned by GOPH;

 

WHEREAS,
GOPH is developing intellectual property relating to systems and methods of converting electronic transmissions into digital
currency as reflected in that certain patent filed with the United Stated Patent and Trademark Office on or about June 14, 2018
(EFS ID: 32893586; Application Number: 16008069; Type: Utility under 35 USC 111(a); Confirmation Number: 6787) (collectively,
the “Digital Currency Technology”);

 

WHEREAS,
GBT is a fully compliant and regulated cryptocurrency exchange platform that currently operates as a decentralized cryptocurrency
platform, and wishes to obtain rights in the Technology (as defined herein);

 

WHEREAS,
GOPH wishes to grant to GBT, an exclusive license to the Technology and GBT wishes to accept an exclusive license;

 

NOW,
THEREFORE, in consideration of the mutual covenants expressed herein and other good and valuable consideration, the receipt
of which hereby is acknowledged, GOPH and GBT agree as follows:

 

		1.	Definitions

 

		1.1.	“Earned
                                         Royalties” means the variable annual royalty payments based upon the sale volume
                                         of Licensed Products pursuant to Section 2.5.

 

		1.2.	“Effective
                                         Date” shall mean the date of execution of this Agreement.

 

		1.3.	“Gross
                                         Revenue” means amounts earned by GBT resulting from revenue attributable to
                                         the use, performance or other exploitation of the Technology, to the extent applicable,
                                         after deducting any taxes that GBT may be required to collect, and deducting any international
                                         sales, goods and services, value added taxes or similar taxes which GBT is required to
                                         pay, if any, excluding deductions for taxes on GBT’s net income. 

 

		1.4.	“Licensed
                                         Products” shall mean any apparatus, product, device or portion of any apparatus,
                                         product or device, based on or embodying the Technology, Patent Rights, or Trade Secrets,
                                         including but not limited to any apparatus, product or device or portion thereof described
                                         in any patent or patent application claiming the Technology.

 

		1.5.	“Patent
                                         Rights” shall mean patents and patent applications owned, controlled or pending
                                         by GOPH covering various aspects of the Technology, including those listed on Exhibit
                                         A, and all continuations, divisionals, continuations-in-part, reexaminations, reissues
                                         and foreign counterparts of such patents and patent applications, and rights in patents
                                         and patent applications pertaining to the Technology acquired by GOPH by license or agreement
                                         during the term of this Agreement.

 

     

    

    

 

		1.6.	“Royalty
                                         Period” means the period beginning on the initial date in which Gross Revenue
                                         is generated by GBT under this Agreement and expiring five (5) years thereafter.

 

		1.7.	“Royalty
                                         Year” shall mean each 12 month period starting with the beginning of the first
                                         full calendar quarter that Gross Revenue is generated by GBT under this Agreement.

 

		1.8.	“Subsidiary”
                                         shall mean a corporation, company, or other entity fifty percent (50%) or more of whose
                                         voting stock is owned or controlled, directly or indirectly, by GBT.

 

		1.9.	“Technology”
                                         shall mean, collectively, the Digital Currency Technology, Trade Secrets and all of the
                                         Patent Rights, patents pending, know-how and show how relating to the Licensed Products
                                         or necessary or helpful to the commercialization thereof.

 

		1.10.	“Trade
                                         Secrets” shall mean, collectively, proprietary non-public documentation and
                                         know-how covering or relating to various aspects of the Technology owned or controlled
                                         by GOPH.

 

		2.	License,
                                         Royalty Obligations and Payments

 

		2.1.	License
                                         Grant to GBT. As of the Effective Date and subject to the terms and conditions of
                                         this Agreement, GOPH hereby grants to GBT an exclusive worldwide license to use the Technology
                                         during the Term (as defined herein) of this Agreement to make, use, sell, lease or otherwise
                                         commercialize and dispose of Licensed Products. The licenses granted to the Technology
                                         involving any Trade Secrets shall survive the expiration of the Term provided this Agreement
                                         was not terminated by GOPH pursuant to Section 8.1 during the Term.

 

		2.2.	Right
                                         to Sublicense. The right to sublicense the Technology is hereby granted to GBT as
                                         follows:

 

		2.2.1.	to
                                         customers, including distributors, resellers and other parties in the distribution channel
                                         who have acquired the Licensed Products through sale, lease or other permitted disposition
                                         hereunder by GBT;

 

		2.2.2.	to
                                         have all or part of the Licensed Products made by another manufacturer for use, sale,
                                         offer to sell, import, lease or otherwise dispose of by GBT, provided the Licensed Products
                                         are made in accordance with written specifications created by or for GBT;

 

		2.2.3.	to
                                         Tokenize-IT S.A. if it enters into a sublicense agreement with GBT, provided, however,
                                         Tokenize-IT S.A. must be subject to the terms of this Agreement, and provide that GOPH
                                         is paid royalties by Tokenize-IT S.A. or GBT as though the activities and sales of Tokenize-IT
                                         S.A. were performed by GBT, and that Tokenize-IT S.A. agrees to confidentiality provisions
                                         at least as restrictive as those of GBT, and that Tokenize-IT S.A. shall undertake the
                                         same indemnification obligations in favor of GOPH as those expressed herein, and that
                                         Tokenize-IT S.A. shall terminate upon the termination of this Agreement.

 

		2.3.	Notice
                                         of Other Licenses. GOPH shall provide written notice to GBT within thirty (30) days
                                         of providing a sublicense to any of the Technology including the name of the licensee,
                                         and information concerning the Technology licensed and any relevant sublicense agreements
                                         or similar restrictions in connection therewith.

 

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		2.4.	Earned
                                         Royalties. GBT shall pay the following amounts to GOPH during the Royalty Period
                                         with respect to sales that occur during the Royalty Period:

 

		2.4.1.	GBT
                                         shall pay to GOPH on or before the last business day of each quarter during Royalty Year
                                         a royalty of two percent (2%) of Gross Revenue of each Licensed Product sold by GBT (the
                                         “Earned Royalties”).

 

		2.4.2.	There
                                         are no minimum royalties due under this Agreement.

 

		2.5.	Accounting.
                                         GBT agrees to keep complete and accurate records with respect to Earned Royalties payment
                                         and shall provide to GOPH upon request copies of the records to enable GOPH to determine
                                         the Gross Revenue of Licensed Products sold which are subject to Earned Royalties. GOPH
                                         shall have the right through its accredited auditors and at its expense to examine the
                                         records and accounts for a Royalty Year during normal business hours solely for the purpose
                                         of verifying the Earned Royalties made under this Agreement. Such examinations may be
                                         made four times per year. GBT agrees to make prompt adjustment, if necessary, to compensate
                                         for any errors or omissions disclosed by such examination. If the results of any audit
                                         reveal underpayment by GBT of an amount greater than 5% of Earned Royalties for the relevant
                                         Royalty Year or Years (if more than one period), then GBT shall promptly (i) reimburse
                                         GOPH for the reasonable costs of such audit (not to exceed the amount of the underpayment)
                                         and (ii) pay an amount of any underpayment.

 

		2.6.	Interest.
                                         Without excusing prompt payment, all undisputed amounts due from GBT hereunder shall
                                         accrue interest at a rate of 1.5% per month after the due date thereto, but not more
                                         than the maximum rate allowed by law, compounding daily from the date due until the date
                                         received by GOPH.

 

		2.7.	GBT
                                         Efforts. The license granted hereunder is expressly subject to GBT undertaking and
                                         continuing to exercise diligence in developing, marketing, and selling Licensed Products.
                                         The parties agree that GBT’s good faith, commercially reasonable efforts shall
                                         be sufficient to satisfy the preceding.

 

		2.8.	Payments;
                                         GBT Equity.

 

2.8.1       On
the Effective Date, GBT will pay GOPH USD $300,000 in consideration of GOPH entering this Agreement and such fee shall be non-refundable.

 

2.8.2       Upon
GBT making available for sale (the “Commercial Event”) an ICO (Initial Coin Offering) (the “Coin”),
GBT will make a payment to GOPH in the amount of USD $5,000,000.

 

2.8.3
       Upon the Commercial Event, GBT will grant GOPH the ability to acquire 30 % of the Coin
at a 30% discount of such offering price of the Coin.

 

		3.	Disclosure
                                         Of Technology

 

		3.1.	Disclosure
                                         of Technical Information. GOPH shall fully disclose to GBT its existing information
                                         and all Trade Secrets related to the Technology and shall provide a written summary of
                                         any such Trade Secrets within thirty (30) days of disclosure by written request.

 

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		3.2.	Disclosure
                                         of Technical Improvements. GOPH shall regularly and promptly notify GBT of all information
                                         and results generated or developed in the course of its research including data, findings,
                                         conclusions and inventions relating to the Technology, and all improvements in the Technology,
                                         all only to the extent applicable in the Field. Disclosure of all such information shall
                                         be subject to the Confidentiality provisions of and the Improvements provisions of this
                                         Agreement.

 

		3.3.	Prior
                                         Information. This section applies to Technology previously provided by either party
                                         to the other prior to the Effective Date of this Agreement. Any and all such prior information
                                         shall be deemed to be included in this Agreement and subject to the Confidentiality provisions
                                         of this Agreement.

 

		4.	Technical
                                         Consultation and Implementation

 

		4.1.	Consultation
                                         and Implementation. GOPH and GBT hereby agree to work together in good faith to implement
                                         this Agreement. GBT may desire during the Term of this Agreement to secure technical
                                         consultation of the Digital Currency Technology. GBT shall enter into that certain consulting
                                         agreement with Dr. Danny Rittman to provide such technical consultation.

 

		5.	Confidentiality

 

		5.1.	Confidential
                                         Information. During the Term of this Agreement, GOPH and GBT agree to take all steps
                                         reasonably necessary to safeguard the secrecy and confidentiality of all proprietary
                                         Technology and proprietary information concerning the sales of the Licensed Products.
                                         All written confidential information produced by either party shall clearly be marked
                                         “CONFIDENTIAL” or “PROPRIETARY” on each page containing confidential
                                         information. This Section 5.1 shall not limit GBT’s use of information for regulatory
                                         purposes and disclosures reasonably necessary (in GBT’s discretion) for commercializing
                                         the Licensed Products; provided that such information disclosed for regulatory or commercial
                                         purposes for terminating the Agreement or calculating Royalties will remain Confidential
                                         Information.

 

		5.2.	Exclusions.
                                         The obligation of confidentiality imposed by the foregoing Section 5.1 shall not apply
                                         to information which is:

 

		5.2.1.	in
                                         the public domain at the time of such disclosure or development or subsequently came
                                         into the public domain by publication or otherwise except by breach of this Agreement
                                         or any prior non-disclosure agreement between the parties;

 

		5.2.2.	received
                                         by GOPH or GBT from a third party not under any confidentiality obligation to GOPH or
                                         GBT;

 

		5.2.3.	in
                                         GOPH’s or GBT possession prior to disclosure by the disclosing party, as shown
                                         by clear and convincing proof; or

 

		5.2.4.	required
                                         to be disclosed by operation of law.

 

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		6.	Improvements,
                                         Patent Prosecution and Enforcement

 

		6.1.	Improvements.
                                         Improvements to the Technology or to any Licensed Product which are conceived of by any
                                         employees or agents of either party shall be owned by GOPH. As used herein, “Improvement”
                                         means any improvement, modification or enhancement to the Technology, whether or not
                                         patentable.

 

		6.2.	Patent
                                         Prosecution and Maintenance.

 

		6.2.1.	Beginning
                                         on the date hereof, GBT shall assume the obligations to prosecute and maintain the Patents,
                                         including the selection of counsel. Subject to Section 6.2.2., for each patent application
                                         and patent under the Patent Rights, GBT shall (i) prepare, file, and prosecute such patent
                                         application; (ii) maintain such patent; (iii) pay at its own cost all fees and expenses
                                         associated with its activities pursuant to Section 6.2.2.(i) and (ii); (iv) keep GOPH
                                         currently informed of the filing and progress of all material aspects of the prosecution
                                         of such patent application and the issuance of patents from any such patent application;
                                         (v) consult with GOPH concerning any decisions which could affect the scope or enforcement
                                         of any issued claims or potential abandonment of such patent application or patent; and
                                         (vi) notify GOPH in writing of any additions, deletions, or changes in the status of
                                         such patent or patent application. If no patents have been issued in respect of the applications
                                         referenced herein in the United States on or prior to the second anniversary of the Effective
                                         Date, the Earned Royalty rate shall be reduced as determined, in good faith, by the parties.

 

		6.2.2.	If
                                         GBT wishes to abandon any patent application or patent that is a Patent Right, it shall
                                         give GOPH ninety (90) days prior written notice of the desired abandonment. On GOPH’s
                                         request at GOPH’s sole discretion, which may be provided at any time after the notice
                                         of desired abandonment, GOPH shall have the right to assume the obligation to prosecute
                                         any such abandoned patent application or patent GOPH wishes to prosecute. GBT may abandon
                                         any such patent application or patent that is a Patent Right in GBT’s sole discretion.
                                         Effective as of the effective date of its abandonment, such abandoned patent application
                                         or patent shall no longer be a Patent Right and GBT shall not have any further royalty
                                         or other payment obligation for such patent application or patent.

 

		6.2.3.	GOPH
                                         shall be consulted about the prosecution of the Patent Rights as set forth in Section
                                         6.2.1.

 

		6.3.	Patent
                                         Infringement.

 

		6.3.1.	Each
                                         party shall notify the other party in writing of any suspected infringement(s) of the
                                         Patent Rights anywhere in the world and shall inform the other party of any evidence
                                         of such infringement(s). Both GOPH and GBT will use good faith efforts to cooperate with
                                         each other to terminate such infringement without litigation.

 

		6.3.2.	The
                                         parties will cooperate in good faith in any litigation related to infringement of the
                                         Licensed Products. The parties may jointly pursue a claim against an alleged infringer,
                                         including litigation, in which case each party shall bear its own costs and shall jointly
                                         control settlement terms or conditions associated with such claim or litigation and the
                                         timing of resolution.

 

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		6.3.3.	If
                                         a party decides to pursue a claim against an alleged infringer, and the other party declines
                                         to jointly pursue such claim or litigation (the “Declining Party”),
                                         then the party pursuing the claim (the “Controlling Party”) may pursue
                                         such claim or litigation and shall pay its own expenses and the reasonable expenses of
                                         the Declining Party, if any, and shall, after consultation with the Declining Party,
                                         maintain the exclusive right to determine settlement terms or conditions associated with
                                         such claim or litigation and the timing of resolution, except that GBT shall not admit
                                         or concede invalidity, lack of infringement, or unenforceability of any of any Patent
                                         without GOPH’s prior written consent. The Declining Party shall consent to be joined
                                         in such claim or litigation, subject to payment of the reasonable expenses of the Declining
                                         Party by the Controlling Party.

 

		6.3.4.	Any
                                         recovery shall be apportioned as follows:

 

		6.3.4.1.	first
                                         to expenses of the parties in pursuing such claim or litigation;

 

		6.3.4.2.	if
                                         the parties jointly pursued such claim or litigation, and each paid its own expenses,
                                         then any recovery excess of expenses shall be shared equally but amounts received by
                                         GBT shall not be Gross Revenue and shall not be subject to any royalty hereunder;

 

		6.3.4.3.	if
                                         GOPH pursued such claim or litigation, and paid GBT’s expenses, then any recovery excess
                                         of expenses shall be kept by GOPH;

 

		6.3.4.4.	if
                                         GBT pursued such claim or litigation, and paid GOPH’s expenses, then any recovery
                                         excess of expenses shall be kept by GBT, and such excess shall be considered to be Gross
                                         Revenue, and royalties thereon shall paid to GOPH thereon.

 

		7.	Term

 

7.1       Original
Term; Renewal by Mutual Agreement. This Agreement shall commence as of the Effective Date and, unless terminated in accordance
with the Termination provisions of this Agreement, shall remain in force until the expiration of the last to expire of the Patents
pertaining to the Technology; provided that the right to use Trade Secrets shall survive the expiration of this Agreement provided
GOPH has not terminated this Agreement pursuant to Section 8.1 prior to its expiration.

 

7.2.       Intentionally
Left Blank.

 

		8.	Termination

 

		8.1.	This
                                         Agreement may be terminated by either party in the event of a material breach of or default
                                         under the terms hereof. Upon the occurrence of a material breach of or default under
                                         this Agreement by GBT or GOPH, the other party may at its sole option terminate this
                                         Agreement by providing the breaching party with written notice specifying the breach
                                         or default. The breaching party shall be entitled to cure any breach or default identified
                                         in the notice within 90 calendar days after the date upon which the notice was received.
                                         If, at the end of the 90 day cure period, any of the identified breaches or defaults
                                         has not been cured, or if a cure acceptable to the non-breaching party has not been agreed
                                         upon, this Agreement shall terminate, effective as of the end of the 90 day cure period,
                                         without additional notice or further act by the non-breaching party.

 

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		9.	Indemnification

 

		9.1.	GOPH
                                         will indemnify, defend, and hold harmless GBT and its officers, directors, employees,
                                         agents, successors, and assigns against any and all losses, damages, liabilities, deficiencies,
                                         claims, actions, judgments, settlements, interest, awards, penalties, fines, costs or
                                         expenses of whatever kind, including reasonable attorneys’ fees, arising out of or resulting
                                         from any third party claims, suits, actions, or proceeding related to, arising out of,
                                         or resulting from (a) GOPH’s breach of any representation, warranty, covenant, or obligation
                                         under this Agreement or (b) GOPH’s gross negligence or willful misconduct.

 

		9.2.	GBT
                                         will indemnify, defend and hold harmless GOPH, its officers, directors, employees, agents,
                                         , successors, and assigns and the inventors of any invention claimed in patents or patent
                                         applications under Patent Rights (including the Licensed Products contemplated thereunder)
                                         against any and all losses, damages, liabilities, deficiencies, claims, actions, judgments,
                                         settlements, interest, awards, penalties, fines, costs or expenses of whatever kind,
                                         including reasonable attorneys’ fees, arising out of or resulting from any third party
                                         claims, suits, actions, or proceeding related to, arising out of, or resulting from (i)
                                         GBT’s breach of any representation, warranty, covenant, or obligation under this Agreement
                                         or (ii) in the manufacture, use, sale or other transfer of any Licensed Product by GBT,
                                         including any and all expenses, costs, reasonable attorneys’ fees, settlement,
                                         judgments or awards incurred by GOPH in the defense of any such claim or lawsuit.

 

		10.	Representations
                                         and Warranties

 

		10.1.	Mutual
                                         Representations and Warranties. Each party represents and warrants to the other party
                                         that (a) it is duly organized, validly existing, and in good standing as a corporation
                                         as represented herein under the laws and regulations of its jurisdiction of incorporation;
                                         (b) it has and throughout the Term shall retain, the full right, power, and authority
                                         to enter into this Agreement and to perform its obligations hereunder; (c) the execution
                                         of this Agreement by its representative whose signature is set forth at the end hereof
                                         has been duly authorized by all necessary corporate action of the party; and (d) when
                                         executed and delivered by such party, this Agreement shall constitute the legal, valid,
                                         and binding obligation of that party, enforceable against that party in accordance with
                                         its terms.

 

		10.2.	Representations
                                         and Warranties of GOPH. GOPH represents and warrants to GBT that:

 

		10.2.1.	the
                                         Technology, including the Patent Rights and patent applications are all the Technology,
                                         patents and patent applications owned by GOPH, or in which GOPH has a licensable interest,
                                         that are necessary or useful for GBT to make, have made, use, offer to sell, sell, and
                                         import the Licensed Products;

 

		10.2.2.	it
                                         has control (by ownership, license or otherwise) of the entire right, title, and interest
                                         in and to the Technology, and is the record owner of all the Technology;

 

		10.2.3.	it
                                         has, and throughout the Term will retain, the unconditional and irrevocable right, power,
                                         and authority to grant the licenses hereunder;

 

		10.2.4.	neither
                                         its grant of the license, nor its performance of any of its obligations, under this Agreement
                                         does or will at any time during the Term (i) conflict with or violate any applicable
                                         law; (ii) require the consent, approval, or authorization of any governmental or regulatory
                                         authority or other third party; or (iii) require the provision of any payment or other
                                         consideration to any third party;

 

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		10.2.5.	it
                                         has not granted and will not grant any licenses or other contingent or non-contingent
                                         right, title, or interest under or relating to Technology, that does or will conflict
                                         with or otherwise affect this Agreement, including any of GOPH’s representations, warranties,
                                         or obligations, or GBT’s rights or licenses hereunder;

 

		10.2.6.	there
                                         neither are, nor will GOPH at any time during the Term enter, any encumbrances, liens,
                                         or security interests involving any Technology; and

 

		10.2.7.	there
                                         is no settled, pending, or threatened litigation or reissue application, re-examination,
                                         post-grant, inter partes, or covered business method patent review, interference,
                                         derivation, opposition, claim of invalidity, or other claim or proceeding (including
                                         in the form of any offer to obtain a license): (i) alleging the unpatentability, invalidity,
                                         misuse, unregisterability, unenforceability, or noninfringement of, or error in any Technology;
                                         or (ii) challenging GOPH’s ownership of, or right to practice or license, any Technology,
                                         or alleging any adverse right, title, or interest with respect thereto.

 

		10.3.	Representations
                                         and Warranties of GBT. GBT represents and warrants to GOPH that:

 

		10.3.1.	It
                                         has the resources, including without limitation capital, facilities, equipment, know-how,
                                         personnel, distribution, suppliers, marketing, and customer relationships to commercially
                                         sell the Technology in a commercially reasonable manner;

 

		10.3.2.	it
                                         has control (by ownership, license or otherwise) of the entire right, title, and interest
                                         in and to the Improvements made by its employees or agents; and

 

		10.3.3.	neither
                                         its receipt of the license, nor its performance of any of its obligations, under this
                                         Agreement does or will at any time during the Term (i) conflict with or violate any applicable
                                         law; (ii) require the consent, approval, or authorization of any governmental or regulatory
                                         authority or other third party; or (iii) require the provision of any payment or other
                                         consideration to any third party.

 

		11.	Arbitration

 

		11.1.	Dispute
                                         Resolution. The parties hereto agree that all claims, disputes or controversies arising
                                         under, out of or in connection with this Agreement shall be resolved by binding arbitration
                                         under the rules of the American Arbitration Association for commercial disputes by a
                                         single mediator. Such arbitration shall be held in Los Angeles, CA or any other forum
                                         agreed upon by the parties. The parties agree to select a single arbitrator who will
                                         establish the rules and procedure of the arbitration under the applicable rules of the
                                         American Arbitration Association. Both GOPH and GBT irrevocably submit to the jurisdiction
                                         of the United States District Courts in the Central District of California for entry
                                         of any arbitration decision or to obtain any preliminary relief which may be necessary
                                         and consent to the enforcement of any award rendered in such arbitration.

 

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		12.	Miscellaneous

 

		12.1.	Notices.
                                         Notices, approvals, and consents required or permitted under this Agreement shall be
                                         in writing and shall be sent by hand or by certified mail, postage prepaid, to the address
                                         set forth above or to such other addresses as the parties may hereafter specify.

 

		12.2.	Waivers.
                                         No waiver of any right under this Agreement shall be deemed effective unless contained
                                         in a writing signed by the party charged with such waiver, and no waiver of any rights
                                         arising from any breach or failure to perform shall be deemed to be a waiver of any future
                                         right or of any other right arising under this Agreement.

 

		12.3.	Entire
                                         Agreement. This Agreement, together with all schedules and exhibits, constitutes
                                         the sole and entire agreement of the parties with respect to the subject matter hereof
                                         and supersedes all prior agreements whether oral or written. This Agreement may not be
                                         modified after its execution except by a writing signed by authorized representatives
                                         of the parties hereto.

 

		12.4.	Further
                                         Assurances. Each party shall, upon the reasonable request of the other party, execute
                                         such documents and perform such acts as may be necessary to give full effect to the terms
                                         of this Agreement.

 

		12.5.	No
                                         Conflicts. Each of GOPH and GBT represent that they have executed no agreement which
                                         is in conflict with this Agreement, and agree that no option or license shall be granted
                                         on any basis to any third party which is in conflict with this Agreement unless and until
                                         this Agreement is terminated.

 

		12.6.	Headings.
                                         The headings in this Agreement are for reference only and shall not affect the interpretation
                                         of this Agreement.

 

		12.7.	Severability.
                                         If any term or provision of this Agreement is or becomes or is deemed invalid, illegal,
                                         or unenforceable in any jurisdiction, such provision shall be deemed amended to conform
                                         to applicable laws so as to be valid and enforceable, or, if it cannot be so amended
                                         without materially altering the intention of the parties, it shall be stricken and the
                                         remainder of this Agreement shall remain in full force and effect.

 

		12.8.	Governing
                                         Law. This Agreement shall be governed by and construed in accordance with the internal
                                         laws of the State of California without regard to its conflict of law provisions.

 

		12.9.	Counterparts.
                                         This Agreement may be executed in counterparts, each of which shall be deemed an original,
                                         but all of which together shall be deemed to be one and the same agreement. A signed
                                         copy of this Agreement delivered by facsimile, e-mail, or other means of electronic transmission
                                         (to which a signed PDF copy is attached) shall be deemed to have the same legal effect
                                         as delivery of an original signed copy of this Agreement.

 

		12.10.	Assignment.
                                         Except for a sale or transfer of the business to which this Agreement relates, this Agreement
                                         may not be assigned or otherwise transferred, nor, except as expressly provided hereunder,
                                         may any right or obligations hereunder be assigned or transferred, by either Party without
                                         the written consent of the other Party; provided, however, that GBT may, without such
                                         consent, assign this Agreement only in its entirety to a GBT affiliate or subsidiary,
                                         provided that GBT is not in breach of this Agreement at such time and provided further
                                         than GBT remains liable for all obligations that accrue prior to such assignment hereunder.
                                         Any purported assignment in violation of the preceding sentence shall be void. Any permitted
                                         assignee shall assume all obligations of its assignor under this Agreement.

 

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		12.11.	Force
                                         Majeure. Neither party shall be held liable or responsible to the other party, nor
                                         be deemed to have defaulted under or breached this Agreement, for failure or delay in
                                         fulfilling or performing any term of this Agreement when such failure or delay is caused
                                         by or results from causes beyond the reasonable control of the affected party, including,
                                         but not limited to, fire or floods; embargoes, war, acts of war (whether war be declared
                                         or not), insurrections, riots, or civil commotions; strikes, lockouts, or other labor
                                         disturbances; acts of God; or acts, omissions, or delays in acting by any governmental
                                         authority or the other party; provided, however, it is understood that this Section is
                                         intended only to suspend and not discharge a party’s obligations under this Agreement
                                         and that when the causes of the failure or delay are removed or alleviated, the affected
                                         party shall resume performance of its obligations hereunder.

 

		12.12.	Survival.
                                         Any termination pursuant to Article 9 shall not affect either party’s rights and
                                         obligations with respect to any Licensed Products made with the use of any of the Trade
                                         Secrets or Technology prior to such termination. The rights and obligations of the parties
                                         set forth in this Section 12.12, and any right, obligation, or required performance of
                                         the parties in this Agreement which, by its express terms or nature and context is intended
                                         to survive termination or expiration of this Agreement, will survive any such termination
                                         or expiration.

 

		12.13.	Independent
                                         Contractors. The relationship between the parties is that of independent contractors.
                                         Nothing contained in this Agreement shall be construed as creating any agency, partnership,
                                         joint venture, or other form of joint enterprise, employment, or fiduciary relationship
                                         between the parties, and neither party shall have authority to contract for or bind the
                                         other party in any manner whatsoever.

 

Signature
page follows

 

    10 

    

    

 

IN
WITNESS WHEREOF, the parties have executed this Exclusive Intellectual Property License and Royalty Agreement by their respective
authorized representatives this 14 day of September, 2018.

	 	 	 	 
	 	GOPHER PROTOCOL INC.	 
	 	 	 	 
	 	By:	/s/ Douglas Davis  9/14/2018	 
	 	Name: Douglas Davis	 
	 	Title: CEO	 
	 	 	 	 
	 	GBT TECHNOLOGIES, S.A.	 
	 	 	 	 
	 	By:	/s/ Pablo Gonzales 9/14/2018	 
	 	Name: Pablo Gonzales	 
	 	Title: CEO	 

 

ACKNOWLEDGED:

 

/s/Danny
Rittman 9/14/2018

Danny
Rittman

 

     

    

    

 

Exhibit
A

 

Patent
Rights

 

Systems
and methods of converting electronic transmissions into digital currency as reflected in that certain patent filed with the United
Stated Patent and Trademark Office on or about June 14, 2018 (EFS ID: 32893586; Application Number: 16008069; Type: Utility under
35 USC 111(a); Confirmation Number: 6787)

 

    A-1Exhibit 10.2

 

Gopher
Protocol Inc. 

2500
Broadway, Suite F-125  

Santa
Monica, CA 90404

 

September
14, 2018

 

Via
Electronic Mail

Danny
Rittman

 

Re:
       Intellectual Property

 

Dear
Mr. Rittman:

 

Reference
is hereby made to that certain Amended and Restated Territorial License Agreement and between Gopher Protocol Inc. (“Gopher”)
and Hermes Roll LLC, a company that was to be formed and owned by Danny Rittman (“Executive”), dated June 16, 2015
(the “Hermes Agreement”) and that certain Amended and Restated Employment Agreement between Gopher and Executive dated
April 19, 2016 (“Employment Agreement”). Gopher is a company specializing in the creation of Internet of Things (IoT)
and Artificial Intelligence enabled mobile technologies, including a global platform with both mobile and fixed solutions (the
“Business”) and Executive has served as the Chief Technology Officer of Gopher in accordance with the Employment Agreement.
In order to confirm that Gopher is the owner of all intellectual property developed by Executive that relates to the Business
of Gopher during the period commencing on the date of the Hermes Agreement through the termination of the Employment Agreement
(the “Period”), the parties agree as follows:

 

As
used in the Agreement, the term “Inventions” means all procedures, systems, formulas, recipes, algorithms, methods,
processes, uses, apparatuses, compositions of matter, designs or configurations, computer programs of any kind, discovered, conceived,
reduced to practice, developed, made, or produced, or any improvements to them, and shall not be limited to the meaning of “invention”
under the United States patent laws.

 

Executive
agrees to disclose promptly to Gopher any and all Inventions, whether or not patentable and whether or not reduced to practice,
conceived, developed, or learned by Executive during the Period, either alone or jointly with others, which relate to or result
from the actual or anticipated business, work, research, investigations, products, or services of Gopher, or which result, to
any extent, from use of the premises or property of Gopher (each a “Gopher Invention”). Executive acknowledges and
agrees that Gopher is the sole owner of any and all property rights in all such Gopher Inventions, including the right to use,
sell, assign, license, or otherwise transfer or exploit Gopher Inventions, and the right to make such changes in them and the
uses thereof as Gopher may from time to time determine. Executive agrees to disclose in writing and to assign, and Executive hereby
assigns, to Gopher, without further consideration, Executive’s entire right, title, and interest (throughout the United
States and in all foreign countries) free and clear of all liens and encumbrances, in and to all such Gopher Inventions, which
shall be the sole property of Gopher, whether or not patentable. This section does not apply to any Inventions that do not relate
at the time of conception or reduction to practice to the current Business of Gopher or its actual or demonstrably anticipated
research or development.

 

     

     

    

 

Executive
further agrees to reasonably cooperate with Gopher hereafter in obtaining and enforcing patents, copyrights, trademarks, service
marks, and other protections of Gopher’s rights in and to all Gopher Inventions, writings and other works. Without limiting
the generality of the foregoing, Executive shall, at any time during the Period at Gopher’s reasonable request, execute
specific assignments in favor of Gopher, or its nominee, of Executive’s interest in any of Gopher Inventions, writings or
other works covered herein.

 

Gopher
requests that Executive sign below agreeing and acknowledging to the terms set forth herein.

 

	 	Sincerely,
	 	 
	 	Gopher Protocol Inc.
	 	 
	 	By: /s/ Douglas Davis  9/14/2018
	 	Name:  Douglas Davis
	 	Title: Interim CEO

 

AGREED
AND ACKNOWLEGED:

 

/s/
Danny Rittman 9/14/2018 

Danny
Rittman

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