Document:

EXHIBIT 10.7

 

LEAK-OUT AGREEMENT

 

June 4, 2019

 

This agreement (the “Leak-Out
Agreement”) is being delivered to you in connection with an understanding by and between LGBTQ Loyalty Holdings, Inc.,
a Delaware corporation (the “Company”), and Brian Neal (collectively, the “Holder”).

 

Reference is hereby made to
the Securities Purchase Agreement, dated June 4, 2019, by and among the Company and the certain purchasers signatory thereto (the
“SPA”) and the Registration Rights Agreement, dated June 4, 2019, incident thereto (the “RRA”).
Capitalized terms not defined herein shall have the meaning set forth in the RRA. The Holder acknowledges that the Purchasers are
permitting the Company to include in the Registration Statement 17,666,666 shares of Common Stock (subject to adjustment for splits,
dividends and the like) owned as of the date hereof by the Holder (the “Neal Securities”) in reliance upon Holder’s
execution of this Agreement. The Holder further acknowledges that all of the Holder’s other securities other than the Neal
Securities are subject to a Lock-Up Agreement.

 

The Holder agrees solely with
the Company that beginning on the date hereof (the “Effective Date”) and ending on the date on which all of
the Neal Securities have been sold (such period, the “Restricted Period”), neither the Holder, nor any Affiliate
of such Holder (the “Holder’s Trading Affiliates”), collectively, shall sell dispose or otherwise transfer,
directly or indirectly, (including, without limitation, any sales, short sales, swaps or any derivative transactions that would
be equivalent to any sales or short positions) during any Trading Day during the Restricted Period (any such date, a “Date
of Determination”), the Neal Securities in an amount more than 5% of the trading volume of Common Stock as reported by
Bloomberg, LP for the applicable Date of Determination.

 

Notwithstanding anything herein
to the contrary, during the Restricted Period, the Holder may, directly or indirectly, sell or transfer in a private transaction
all, or any part, of the Neal Securities to any Person (an “Assignee”), without complying with (or otherwise
limited by) the restrictions set forth in this Leak-Out Agreement; provided, that as a condition to any such sale or transfer an
authorized signatory of the Company and such Assignee duly execute and deliver a leak-out agreement in the form of this Leak-Out
Agreement (an “Assignee Agreement”, and each such transfer a “Permitted Transfer”) and, subsequent
to a Permitted Transfer, sales of the Holder and the Holder’s Trading Affiliates and all Assignees (other than any such sales
that constitute Permitted Transfers) shall be aggregated for all purposes of this Leak-Out Agreement and all Assignee Agreements.

 

     

     

    

 

In connection with this Leak-Out
Agreement, the Holder covenants and agrees to provide notice to the Company and Pride Partners LLC as representative to the Purchasers,
within two (2) Trading Days after any sale of the Neal Securities, stating the number of shares that were sold, the manner of sale
and the number of Neal Securities owned by the Holder following such sale. The address for such notice shall be as set forth on
the signature pages attached hereto with respect to the Company and shall be [ ] with respect to the Purchasers.

 

This Leak-Out Agreement constitutes
the entire agreement among the parties hereto with respect to the subject matter hereof and supersedes all prior negotiations,
letters and understandings relating to the subject matter hereof and are fully binding on the parties hereto.

 

This Leak-Out Agreement may
be executed simultaneously in any number of counterparts. Each counterpart shall be deemed to be an original, and all such counterparts
shall constitute one and the same instrument. This Leak-Out Agreement may be executed and accepted by facsimile or PDF signature
and any such signature shall be of the same force and effect as an original signature.

 

The terms of this Leak-Out
Agreement shall be binding upon and shall inure to the benefit of each of the parties hereto and their respective successors and
assigns.

 

This Leak-Out Agreement may
not be amended or modified except in writing signed by each of the parties hereto and signed by Pride Partners LLC as representative
to the Purchasers.

 

All questions concerning the
construction, validity, enforcement and interpretation of the Leak-Out Agreement shall be governed by and construed and enforced
in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. Each
party agrees that all legal Proceedings concerning the interpretations, enforcement and defense of the transactions contemplated
by this Leak-Out Agreement (whether brought against a party hereto or its respective affiliates, directors, officers, shareholders,
partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City of New
York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of
New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein (including with respect to the enforcement of the Leak-Out Agreement), and hereby irrevocably
waives, and agrees not to assert in any Action or Proceeding, any claim that it is not personally subject to the jurisdiction of
any such court, that such Action or Proceeding is improper or is an inconvenient venue for such Proceeding. Each party hereby irrevocably
waives personal service of process and consents to process being served in any such Action or Proceeding by mailing a copy thereof
via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices
to it under this Leak-Out Agreement and agrees that such service shall constitute good and sufficient service of process and notice
thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted
by law. If any party shall commence an Action or Proceeding to enforce any provisions of the Leak-Out Agreement, the prevailing
party in such Action or Proceeding shall be reimbursed by the non-prevailing party for its reasonable attorneys’ fees and
other costs and expenses incurred with the investigation, preparation and prosecution of such Action or Proceeding.

 

Each party hereto acknowledges
that, in view of the uniqueness of the transactions contemplated by this Leak-Out Agreement, the Company may not have an adequate
remedy at law for money damages in the event that this Leak-Out Agreement has not been performed in accordance with its terms,
and therefore agrees that the Company shall be entitled to seek specific enforcement of the terms hereof in addition to any other
remedy it may seek, at law or in equity.

 

[The remainder of the page is intentionally left
blank]

 

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[Signature Page to Leakout]

 

	 	Sincerely,
	 	 
	 	LGBTQ LOYALTY HOLDINGS, INC.
	 	 	 
	 	By:  	/s/ Robert Blair
	 	  	Name: Robert A. Blair
	 		Title:   Chief Executive Officer

 

Agreed to and Acknowledged:

 

“HOLDER”

 

	/s/
    Brian Neal	 
	Brian Neal 	 

 

 

 

3EXHIBIT 10.8

 

MANAGEMENT AND CONSULTING AGREEMENT

 

THIS MANAGEMENT AND CONSULTING AGREEMENT (the “Agreement”)
is made and entered as of the 1st day of May, 2019, by and between Beacon Media Interactive, Inc., a California corporation, (the
“Manager”) and LGBTQ Loyalty Holdings, Inc. (f/k/a “Life Apps Brands Inc.”), a Delaware corporation,
and all of its owned and affiliated entities (the “Company”) (Manager and Company are collectively referred
to herein as the “Parties” and each individually as a “Party”).

 

WHEREAS, Company desires to obtain certain management and consulting
Services (as defined below) from the Manager; and

 

WHEREAS Company agrees to engage the Manager, and Manager accepts
such engagement, as an independent contractor to provide such Services on the terms and conditions set forth in this Agreement.

 

NOW, THEREFORE, in consideration of the mutual covenants and
agreements herein contained and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
the Parties hereto agree as follows:

 

 1. Services

 

1.1. Scope of Work. The Manager shall provide to the Company the services listed on the Initial Statement of Work attached hereto
as Schedule 1 (the “Services”). The scope of work may be expanded by Additional Statements of Work, which shall
be deemed issued and accepted only if signed by authorized representatives of each Party. This Agreement will serve as the basis
for all work by and between the Parties.

 

1.2. Manner of Performance. The Manager shall conduct the Services in accordance with specifications set forth in any issued
and accepted Statement of Work. The Company shall not control the manner or means by which Manager or its employees or contractors
perform the Services.

 

 2. Standard of Performance

 

Manager hereby agrees that it shall follow the highest professional
standards in performing all Services to be provided under this Agreement. At all times during the Term of this Agreement, Manager
shall endeavor to promote the interests of the Company. To the best of its ability, Manager shall perform the Services in a timely,
workmanlike and professional manner in accordance with generally recognized industry standards for similar services. Manager shall
promptly and diligently communicate with Company regarding matters relating to the provision of the Services or the business of
the Company. The Manager shall at all times observe and comply with all federal and state laws or regulations applicable to this
Agreement.

 

     

     

    

 

 3. Necessary Information & Materials

 

Company will be solely responsible to supply the Manager all
information, materials, data, and documents necessary to perform the Services agreed under this Agreement. Company acknowledges
and agrees that the completeness and accuracy of information supplied to Manager is the sole responsibility of the Company. Manager
shall not be held responsible for the production of inaccurate financial statements, records and billings, or any other financial
reports if the financial data submitted by the Company and relied upon by Manager in preparing such financial statements, records,
billings and/or reports, is inaccurate.

 

 4. Term

 

This Agreement is effective as of the date written above and
shall expire upon the completion of all three phases of work as outlined on Schedule 1, unless terminated in accordance with Section
10 or extended in a writing signed by the Parties. If Manager anticipates that any phase will not be completed within the outer
time period set forth in Schedule 1, Manager shall notify the Company no later than fifteen (15) days prior to the respective deadline
to request a reasonable extension. Company, in its sole discretion, may grant an extension or terminate the agreement for Cause
if and when a phase deadline is not met.

 

 5. Independent Contractor

 

Manager shall provide the Services as an independent contractor
and Manager shall not act as an employee, agent or broker of the Company. As an independent contractor, Manager will be solely
responsible for paying any and all taxes levied by applicable laws on its compensation. Manager understands that Company will not
withhold any amounts for payment of any taxes from Manager’s compensation.

 

 6. Compensation

 

6.1. Monthly Payments. During the Term of this Agreement, Company shall pay the Manager the applicable monthly fees set forth
in the attached Compensation Addendum. All cash payments specified thereunder shall be made in advance by the first day of each
month in which Services shall be rendered; stock payments shall vest on the last day of each month in which the Services are rendered
subject to the Restricted Stock Grant Agreement entered into by and between the Parties of even date herewith. For the avoidance
of any doubt, Consultant shall invoice the Company each month stating the cash and stock compensation owed based upon the terms
of the Compensation Addendum and the current phase of the project. Notwithstanding the foregoing, the cash payment for the month
of May 2019 shall be paid within three business days of the date of full execution of this Agreement.

 

6.2. Performance Bonuses. In addition to monthly fees, Manager may earn performance bonuses in the form of stock as specified
in the Compensation Addendum and subject to the terms and conditions of the Restricted Stock Grant Agreement. Manager may also
be paid other performance bonuses at the discretion of the Company’s Board of Directors.

 

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6.3. Additional Compensation. Any work undertaken by Manager on behalf of the Company outside of the Initial Statement of Work
(“Additional Work”) will require additional compensation to be paid to Manager by Company for such services, which
shall be specified in any Additional Statement of Work, and agreed to by the Parties, in writing, prior to the commencement of
such Additional Work.

 

 7. Expenses

 

Subject to the prior written approval of the Company, the Company
agrees to reimburse all out of pocket expenses incurred by the Manager in furtherance of or in connection with the Services, including,
but not limited to, travel expenses and operational expenditures. Company shall reimburse Manager for all such reasonable expenses
within five (5) business days of receipt by Company of an itemized statement of reimbursable expenses from Manager accompanied
by receipts and/or other supporting documentation.

 

 8. Confidentiality

 

Manager in the course of performing the Services hereunder,
may gain access to certain confidential or proprietary information of the Company. Such “Confidential Information”
shall include all information concerning the business, affairs, products, marketing, systems, technology, customers, end-users,
financial affairs, accounting, statistical data belonging to the Company and any data, documents, discussion, or other information
developed by Manager hereunder and any other proprietary and trade secret information of Company whether in oral, graphic, written,
electronic or machine-readable form. Confidential Information does not include information which (i) is known to Manager at the
time of disclosure to Manager by Company as evidenced by written records of Manager, (ii) has become publicly known and made generally
available through no wrongful act of Manager, or (iii) has been rightfully received by Manager from a third party who is authorized
to make such disclosure. The Manager agrees to hold all such Confidential Information of the Company in strict confidence and shall
not, without the express prior written permission of Company, (a) disclose such Confidential Information to third parties; or (b)
use such Confidential Information for any purposes whatsoever, other than the performance of its obligations hereunder. The obligations
under this Section shall survive termination or expiration of this Agreement. Company hereby acknowledges that Manager is otherwise
engaged in the publishing business, has extensive previous knowledge about the Company and the industry that this is not an exclusive
Agreement. Manager shall not engage in transactions involving the Company’s common stock or common stock equivalents while
in possession of material non-public information. Manager shall not engage in transactions involving the Company’s common
stock while in possession of material non-public information within the meaning of applicable securities laws.

 

 9. Ownership and Use of Intellectual Property

 

9.1. Work Product. The term “Work Product,” as used in this Agreement, refers to all items, including works of authorship,
programs, documentation, products, or other materials or items, prepared specifically for and delivered to Company by Manager,
its employees, agents or subcontractors during the term of this Agreement or any past agreements, written or oral, but shall exclude
all Pre-existing Materials as defined below. Ownership of all Work Product shall belong to the Company.

 

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9.2.
Ownership Rights. As between Company and Manager, the Manager and/or its licensors retain full ownership of any and all
Pre-existing Materials. As used herein, Pre-existing Materials means material created and/or owned by Manager or its affiliates
prior to the date of this Agreement or independently developed by Manager or its affiliates outside of performance under this Agreement.
The Manager hereby grants to Company an irrevocable, non-exclusive, terminable, worldwide, royalty free and fully paid up license
to use any Manager-owned Pre-existing Materials used in conjunction with Company’s use of the Services and Work Product in
the following manner: (i) to make, use, execute, reproduce, or display the Pre-existing Materials; (ii) to distribute copies of
Work Products and Services; and, (iii) to authorize others to do any of the foregoing, on behalf of Company. Company’s rights
with respect to any Pre-existing Materials owned by third-parties used in connection with the Work Product shall be subject to
the licenses applicable to such Pre-existing Materials to be purchased by Company separately and independent of this Agreement.
Nothing in this Agreement will be construed as limiting Manager’s rights to use or market any of Manager’s intellectual
property without obligation of any kind to Company.

 

9.3. Company Supplied Intellectual Property. To the extent Manager is required to use any intellectual property (including
software) supplied by Company in carrying out the Services, Company warrants that it has the right to so supply such intellectual
property for such use, combination, or interaction, and Company agrees to defend, indemnify and hold Manager harmless against any
claims or liabilities arising from breach of this warranty.

 

 10. Termination

 

10.1. Reasons for Termination. Either Party may terminate this Agreement effective immediately, or as otherwise provided herein,
upon written notice with Cause, or the Agreement may be terminated by Manager for Good Reason. As used herein, “Cause”
means the occurrence of one or more of the following events: (i) a material breach of this Agreement, which is not remedied by
the breaching Party within thirty (30) days after written notice thereof from the non-breaching Party, (ii) the commission of,
or pleas of guilty or no contest to, a felony or a crime involving moral turpitude or the commission of any other act involving
willful malfeasance or material fiduciary breach with respect to the other Party or an affiliate; (iii) conduct that results in
harm to the reputation or business of the other Party or any of its affiliates; (iv) gross negligence or willful misconduct with
respect to the other Party or an affiliate; or (v) material violation of state or federal securities laws. As used herein, “Good
Reason” means the occurrence of one or more of the following without the express written consent of Manager, which circumstances
are not remedied by Company within thirty (30) days of its receipt of a written notice describing the applicable circumstances
(which notice must be provided within ninety (90) days of the discovery of the applicable circumstances): (i) any material, adverse
change in Manager’s duties, responsibilities, authority, title, status or reporting structure; or (ii) a material reduction
in or non-payment of the Consultant’s base compensation or bonus opportunity. Except as otherwise provided in Section 4,
mere inefficiency or good faith errors in judgment or discretion shall not constitute grounds for termination hereunder.

 

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10.2. 
Effects of Termination on Compensation. In the event the Company terminates the Agreement pursuant to Section 10.1, the
Company shall be obligated to pay the Consultant the compensation due under this Agreement up to the effective date of termination.
In the event the Manager terminates the Agreement pursuant to Section 10.1, the Company shall be obligated to pay the Manager the
compensation due under this Agreement up to the effective date of termination and Manager shall be entitled to keep all compensation
paid to the Manager under this Agreement through the effective date of termination.

 

 11. Assignment

 

Manager shall not assign any of their rights under this Agreement,
or delegate the performance of any of the obligations or duties hereunder, without the prior written consent of the Company and
any attempt by Manager to so assign, transfer, or subcontract any rights, duties, or obligations arising hereunder shall be void
and of no effect; provided that Manager has the right in its sole discretion to hire outside vendors as subcontractors and/or
to use employees to provide the Services required by this Agreement. The Company may freely assign its rights and obligations under
this Agreement at any time. Subject to the limits on assignment stated above, this Agreement will inure to the benefit of, be binding
on, and be enforceable against each of the Parties and their respective successors and assigns.

 

 12. Notices

 

Any notices, bills, invoices, or reports required by this Agreement
shall be deemed received on (a) the day of delivery if delivered by hand during receiving Party’s regular business hours
or by e-mail before or during receiving Party’s regular business hours; or (b) on the second business day following deposit
in the United States mail, postage prepaid, to the addresses heretofore below, or to such other addresses as the Parties may, from
time to time, designate in writing pursuant to the provisions of this section.

 

Company:

 

LGBTQ Loyalty Holdings, Inc.

ATTN: Robert A. Blair, CEO

2435 Dixie Highway

Wilton Manors, FL 33305

Email: bobby@lifeappsbrands.com

 

Manager:

 

Beacon Media Interactive, Inc.

ATTN: Von Raees

125 E. Chestnut Ave.

Monrovia, CA 91016

Email: von@beaconmedianews.com

 

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 13. Governing Law

 

This Agreement is to be construed in accordance with and governed
by the internal laws of the State of New York without regard for conflict of law principles.

 

 14. Dispute Resolution

 

All disputes under this Agreement shall be settled by arbitration
in Los Angeles, California before a single arbitrator pursuant to the commercial law rules of the American Arbitration Association.
Arbitration may be commenced at any time by any Party hereto giving written notice to the other Party to a dispute that such dispute
has been referred to arbitration. Any award rendered by the arbitrator shall be conclusive and binding upon the Parties hereto.
This provision for arbitration shall be specifically enforceable by the Parties and the decision of the arbitrator in accordance
herewith shall be final and binding without right of appeal.

 

 15. Severability

 

If any provision of this Agreement shall be held to be illegal,
invalid or unenforceable under present or future laws, such provisions shall be fully severable, this Agreement shall be construed
and enforced as if such illegal, invalid or unenforceable provision had never comprised a part of this Agreement; and, the remaining
provisions of this Agreement shall remain in full force and effect.

 

 16. Limitation of Liability

 

IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY
FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL OR EXEMPLARY DAMAGES, INCLUDING WITHOUT LIMITATION, BUSINESS INTERRUPTION,
LOSS OF OR UNAUTHORIZED ACCESS TO INFORMATION, DAMAGES FOR LOSS OF PROFITS, INCURRED BY THE OTHER PARTY ARISING OUT OF THE SERVICES
PROVIDED UNDER THIS AGREEMENT, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT WILL EITHER
PARTY’S LIABILITY ON ANY CLAIM, LOSS OR LIABILITY ARISING OUT OF OR CONNECTED WITH THIS AGREEMENT EXCEED THE AMOUNTS PAID
OR PAYABLE TO MANAGER DURING THE TERM OF THIS AGREEMENT. MANAGER MAKES NO WARRANTIES EXCEPT FOR THAT PROVIDED IN SECTION 2. ALL
OTHER WARRANTIES, EXPRESS AND IMPLIED, ARE EXPRESSLY DISCLAIMED.

 

 17. Indemnification

 

Each party shall at its own expense indemnify and hold harmless,
and at the other party’s request defend such party its affiliates, subsidiaries, successors and assigns officers, directors,
employees, sub licensees, and agents from and against any and all claims, losses, liabilities, damages, demand, settlements, loss,
expenses and costs (including attorneys’ fees and court costs) which arise directly or indirectly out of or relate to (a)
any breach of this Agreement, or (b) the gross negligence or willful misconduct of a Party or a Party’s employees or agents.

 

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 18. Entire Agreement; Amendment

 

This Agreement, together with all schedules, addendums and exhibits
hereto, is the final, complete and exclusive agreement of the parties with respect to the subject matter hereof and supersedes
and merges all prior or contemporaneous representations, discussions, proposals, negotiations, conditions, communications and agreements,
whether written or oral, between the Parties relating to the subject matter hereof and all past courses of dealing or industry
custom. No modification of or amendment to this Agreement shall be effective unless in writing and signed by each of the Parties.

 

 19. Waiver

 

The waiver by either Party of a breach of or a default under
any provision of this Agreement shall not be effective unless in writing and shall not be construed as a waiver of any subsequent
breach of or default under the same or any other provision of this Agreement, nor shall any delay or omission on the part of either
Party to exercise or avail itself of any right or remedy that it has or may have hereunder operate as a waiver of any right or
remedy.

 

 20. Captions

 

The headings used in this Agreement are for convenience only
and shall not be used to limit or construe the contents of any of the sections of this Agreement.

 

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IN WITNESS WHEREOF, the parties have signed this Agreement as
of the date first set forth above.

 

	COMPANY	 	MANAGER
	LGBTQ Loyalty Holdings, Inc.,	 	BEACON MEDIA INTERACTIVE, INC.,
	a Delaware corporation	 	a Wyoming corporation
	 	 	 	 	 
	By:	/s/ Robert Blair	 	By:	/s/ Von Raees
	 	Robert Blair, CEO	 	 	Von Raees, CEO
	 	 	 	 	 
	Date: 	June 4, 2019	 	Date: 	June 4, 2019

 

 

 

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