Document:

Exhibit 10.2

 

CONTRIBUTION AGREEMENT

 

THIS
CONTRIBUTION AGREEMENT (“Agreement”) is entered into as of January 13, 2017 by and between XXXXXXXXXXX,
a Delaware limited liability company (“XXXX”), uSell.com, Inc., a Delaware corporation (“uSell”)
and XXXX, a Delaware limited liability company (the “Company”). Except as otherwise provided, any
capitalized terms used but not defined herein are defined in the LLC Agreement (as defined below).

 

WHEREAS,
XXXX and uSell formed the Company and are entering into a Limited Liability Company Agreement as of the date hereof (the “LLC
Agreement”) in connection with such formation to reflect the respective rights, privileges, preferences and obligations
of XXXX and uSell as members of the Company;

 

WHEREAS,
XXXX is contributing $5,200,000 (the “Capital Contribution”) to the Company to be used to pay (i) expenses of
the formation of the Company, the LLC Agreement and related expenses and transactions up to $200,000 and (ii) for the purchase
of Inventory in exchange for the XXXX Interests (as defined below);

 

WHEREAS,
uSell is contributing Services (as defined in the Services Agreement dated the date hereof between the Company and uSell (the “Services
Agreement”)) to the Company in exchange for the uSell Interests (as defined below); and

 

WHEREAS,
XXXX desires to make the Capital Contribution to the Company and uSell desires to contribute the Services to the Company and the
Company desires to receive the Capital Contribution from XXXX and the Services from uSell.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
agree as follows:

 

1.          Capital
Contribution and Services. XXXX hereby makes the
Capital Contribution to the Company and the Company hereby accepts the Capital Contribution in exchange for XXXX’s receipt
of the membership interests of the Company, as more fully described in, and subject to the terms and conditions provided in, the
LLC Agreement (the “XXXX Interests”). uSell hereby agrees to perform the Services as defined in and in the manner
set forth in the Services Agreement and the Company hereby agrees to the accept the Services in exchange for uSell’s receipt
of the membership interests of the Company, as more fully described in, and subject to the terms and conditions provided in, the
LLC Agreement (the “uSell Interests” and, collectively with the XXXX Interests, subject to the terms and conditions
provided in the LLC Agreement, the “Interests”). The parties hereto acknowledge and agree that XXXX has no obligation
to make any capital contribution or provide any financial assistance to the Company other than the Capital Contribution.

 

2.          Representations
and Warranties of XXXX. XXXX represents and warrants
to the Company and uSell that:

 

     

     

    

 

(a)          LLC
Existence and Power. XXXX is a limited liability
company duly organized, validly existing and in good standing under and by virtue of the laws of the State of Delaware. 

 

(b)          Legal
Capacity and Authority. XXXX has the full legal capacity
and authority to enter into this Agreement and the LLC Agreement. All actions on the part of XXXX necessary for the authorization,
execution, delivery, and performance of XXXX’s obligations under this Agreement and the LLC Agreement have been taken by
XXXX. Each of this Agreement and the LLC Agreement is a valid, legal and binding obligation of XXXX, enforceable according to its
terms, except as may be limited by (i) applicable bankruptcy, insolvency, reorganization or other similar laws of general application
relating to or affecting the enforcement of creditor rights, and (ii) the availability of specific performance or other equitable
remedies.

 

(c)          Non-Contravention.
The execution, delivery or performance by XXXX of this Agreement and the LLC Agreement does not and will not (a) contravene or
conflict with the organizational or constitutive documents of XXXX, (b) contravene or conflict with or constitute a violation
of any provision of any law or order binding upon or applicable to XXXX, or (c) constitute a default under or breach of (with
or without the giving of notice or the passage of time or both) or violate or give rise to any right of termination, cancellation,
amendment or acceleration of any right or obligation of XXXX.

 

3.          Representations
and Warranties of uSell. uSell represents and warrants
to the Company and XXXX that:

 

(a)          Corporate
Existence and Power. uSell is a corporation duly
organized, validly existing and in good standing under and by virtue of the laws of the State of Delaware. 

 

(b)          Legal
Capacity and Authority. uSell has the full legal
capacity and authority to enter into this Agreement, the LLC Agreement and the Services Agreement. All actions on the part of uSell
necessary for the authorization, execution, delivery, and performance of uSell’s obligations under this Agreement, the LLC
Agreement and the Services Agreement have been taken by uSell. Each of this Agreement, the LLC Agreement and the Services Agreement
is a valid, legal and binding obligation of uSell, enforceable according to its terms, except as may be limited by (i) applicable
bankruptcy, insolvency, reorganization or other similar laws of general application relating to or affecting the enforcement of
creditor rights, and (ii) the availability of specific performance or other equitable remedies.

 

(c)          Non-Contravention.
The execution, delivery or performance by uSell of this Agreement, the LLC Agreement and the Services Agreement does not and will
not (a) contravene or conflict with the organizational or constitutive documents of uSell, (b) contravene or conflict with or
constitute a violation of any provision of any law or order binding upon or applicable to uSell, or (c) constitute a default under
or breach of (with or without the giving of notice or the passage of time or both) or violate or give rise to any right of termination,
cancellation, amendment or acceleration of any right or obligation of uSell.

 

    2

     

    

 

4.          Representations
and Warranties of the Company. The Company represents and warrants to XXXX and uSell that:

 

(a)          Corporate
Existence and Power. The Company is a limited liability
company duly organized, validly existing and in good standing under and by virtue of the laws of the State of Delaware. The Company
has all power and authority, corporate and otherwise, and all governmental licenses, franchises, permits, authorizations, consents
and approvals required to own and operate its properties and assets and to carry on the Business. The Company is qualified to do
business as a foreign entity in all jurisdictions where it is required to be so qualified.

 

(b)          Legal
Capacity and Authority. The Company has the full
legal capacity and authority to enter into this Agreement and the Services Agreement. All actions on the part of the Company necessary
for the authorization, execution, delivery, and performance of the Company’s obligations under this Agreement, the LLC Agreement
and the Services Agreement have been taken by the Company. Each of this Agreement, the LLC Agreement and the Services Agreement
is a valid, legal and binding obligation of the Company, enforceable according to its terms, except as may be limited by (i) applicable
bankruptcy, insolvency, reorganization or other similar laws of general application relating to or affecting the enforcement of
creditor rights, and (ii) the availability of specific performance or other equitable remedies.

 

(c)          Non-Contravention.
The execution, delivery or performance by the Company of this Agreement, the LLC Agreement and the Services Agreement does not
and will not (a) contravene or conflict with the organizational or constitutive documents of the Company, (b) contravene or conflict
with or constitute a violation of any provision of any law or order binding upon or applicable to the Company or the Interests,
(c) constitute a default under or breach of (with or without the giving of notice or the passage of time or both) or violate or
give rise to any right of termination, cancellation, amendment or acceleration of any right or obligation of the Company or require
any payment or reimbursement or a loss of any material benefit relating to the Business to which the Company is entitled under
any provision of any permit, contract or other instrument or obligations binding upon the Company or by which any of the Interests
is or may be bound, or (d) result in the creation or imposition of any Lien (as defined below) on any of the Interests.

 

(d)          Interests.

 

(i)          The
Interests have been duly authorized and are validly issued, fully-paid and non-assessable. Upon consummation of the transactions
contemplated by this Agreement, XXXX and uSell shall own the Interests, free and clear of any mortgage, lien, pledge, charge, security
interest or encumbrance of any kind in respect of the Interests, and any conditional sale or voting agreement or proxy, including
any agreement to give any of the foregoing; provided, however, that in each case other than that certain pledge of, and
grant of a security interest in, uSell’s Interests to XXXX pursuant to the Purchase Agreement and the Related Agreements
(as defined in the Purchase Agreement).

 

(ii)         The
Interests are being issued in compliance with applicable laws. The Interests will not be issued in violation of the organizational
documents of the Company or any other agreement, arrangement or commitment to which the Company is a party and are not subject
to or in violation of any preemptive or similar right of any person.

 

    3

     

    

 

(iii)        There
are no outstanding or authorized options, warrants, convertible securities or other rights, agreements, arrangement or commitments
of any character relating to any equity interests in the Company or obligating the Company to issue or sell any Interests or any
other interest, in the Company. Other than the organizational documents of the Company, there are no voting trusts, proxies, or
other agreements or understandings in effect with respect to the voting or transfer of any of the Interests.

 

(e)          Organizational
Documents. Copies of (a) the Certificate of Formation
of the Company, as certified by the Secretary of State of its state of formation, and (b) the LLC Agreement have heretofore been
made available to XXXX and uSell, and such copies are each true and complete copies of such instruments and in effect on the date
hereof. The Company has not taken any action in violation or derogation of its Certificate of Formation or the LLC Agreement.

 

5.          Consulting
Fee. On the date hereof, the Company shall pay to
XXXX a consulting fee in the amount of $104,000, by wire transfer of immediately available funds, as consideration for the consulting
services rendered by XXXX to the Company prior to the date hereof (and, for the avoidance of doubt, no other consulting fees are
due and owing to XXXX for services performed to date by XXXX).

 

6.          General
Provisions.

 

(a)          Notices.
All notices required or permitted hereunder shall be in writing and shall be deemed effectively given:

 

(i)         upon personal deliver
to the party to be notified;

 

(ii)         when
sent by confirmed facsimile if sent during normal business hours of the recipient, or, if not, then on the next business day;

 

(iii)        five
(5) business days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or

 

(iv)        one
(1) business day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification
of receipt.

 

All communications shall
be sent as follows:

 

If to uSell, to:

 

uSell.com, Inc.

33 East 33rd St., Suite 1101

New York, NY 10016

Attention: Nik Raman, CEO

nik@usell.com

 

    4

     

    

 

if to XXXX, to:

 

XXXX

 

if to Company, to:

 

XXXX 

c/o XXXX

 

(b)          Further
Assurances. The parties hereto shall promptly execute, deliver, file or record such agreements, instruments, certificates and
other documents and take such actions as the other parties may reasonably request or as may otherwise be necessary or proper to
carry out the terms and provisions of this Agreement and to consummate and perfect the transactions contemplated hereby.

 

(c)          Binding
Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective legal representatives,
successors and permitted assigns. This Agreement is not intended, and shall not be deemed, to create or confer any right or interests
for the benefit of any person other than the parties hereto.

 

(d)          Governing
Law, Jurisdiction and Waiver of Jury Trial.

 

THIS AGREEMENT SHALL
BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND
PERFORMED IN SUCH STATE, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS.

 

THE PARTIES HEREBY CONSENT
AND AGREE THAT THE STATE OR FEDERAL COURTS LOCATED IN THE COUNTY OF NEW YORK, STATE OF NEW YORK SHALL HAVE EXCLUSIVE JURISDICTION
TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN THE PARTIES PERTAINING TO THIS AGREEMENT OR TO ANY MATTER ARISING OUT OF OR
RELATED TO THIS AGREEMENT; PROVIDED, THAT EACH PARTY ACKNOWLEDGES THAT ANY APPEALS FROM THOSE COURTS MAY HAVE TO BE HEARD BY A
COURT LOCATED OUTSIDE OF THE COUNTY OF NEW YORK, STATE OF NEW YORK. EACH PARTY EXPRESSLY SUBMITS AND CONSENTS IN ADVANCE TO SUCH
JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND EACH PARTY HEREBY WAIVES ANY OBJECTION THAT IT MAY HAVE BASED
UPON LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS. EACH PARTY HEREBY WAIVES PERSONAL SERVICE OF THE SUMMONS,
COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINT AND OTHER PROCESS
MAY BE MADE BY REGISTERED OR CERTIFIED MAIL ADDRESSED TO SUCH PARTY AT THE ADDRESS SET FORTH IN SECTION 6(a) AND THAT SERVICE SO
MADE SHALL BE DEEMED COMPLETED UPON SUCH PARTY’S ACTUAL RECEIPT THEREOF OR FIVE (5) BUSINESS DAYS AFTER DEPOSIT IN THE U.S.
MAIL, PROPER POSTAGE PREPAID.

 

    5

     

    

 

THE PARTIES DESIRE THAT
THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS
OF THE JUDICIAL SYSTEM AND/OR OF ARBITRATION, THE PARTIES HERETO WAIVE ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING
BROUGHT TO RESOLVE ANY DISPUTE, WHETHER ARISING IN CONTRACT, TORT, OR OTHERWISE BETWEEN ANY PARTY ARISING OUT OF, CONNECTED WITH,
RELATED OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED BETWEEN THEM IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS RELATED
HERETO.

 

(e)          Severability.
Wherever possible each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement shall be prohibited by or invalid or illegal under applicable law such provision shall
be ineffective to the extent of such prohibition or invalidity or illegality, without invalidating the remainder of such provision
or the remaining provisions thereof which shall not in any way be affected or impaired thereby.

 

(f)          Waiver.
No course of dealing or omission or delay on the part of any party hereto in asserting or exercising any right hereunder shall
constitute or operate as a waiver of any such right. No waiver of any provision hereof shall be effective, unless in writing and
signed by or on behalf of the party to be charged therewith. No waiver shall be deemed a continuing waiver or waiver in respect
of any other or subsequent breach or default, unless expressly so stated in writing.

 

(g)          Entire
Agreement. This Agreement, the exhibits and schedules hereto and thereto and the other documents delivered pursuant hereto
constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof.

 

(h)          Amendment.
This Agreement may be amended or modified only upon the written consent of the parties.

 

(i)          Delays
or Omissions; Remedies. It is agreed that no delay or omission to exercise any right, power or remedy accruing to any party,
upon any breach, default or noncompliance by another party under this Agreement shall impair any such right, power or remedy, nor
shall it be construed to be a waiver of any such breach, default or noncompliance, or any acquiescence therein, or of or in any
similar breach, default or noncompliance thereafter occurring. All remedies, either under this Agreement, by law or otherwise afforded
to any party, shall be cumulative and not alternative. The parties shall have all rights and remedies set forth herein and all
rights and remedies that the parties have been granted at any time under any other agreement or contract and all of the rights
that the parties have under any law. Any person having any rights under any provision of this Agreement shall be entitled to enforce
such rights specifically (without any requirement to post a bond or other security or prove actual damages, which requirements
each of the parties waives to the fullest extent permitted by law), to recover damages by reason of any breach of any provision
of this Agreement and to exercise all other rights granted by law.

 

(j)          Attorneys’
Fees. In the event that any suit or action is instituted to enforce any provision in this Agreement, the prevailing party in
such dispute shall be entitled to recover from the losing party all fees, costs and expenses of enforcing any right of such prevailing
party under or with respect to this Agreement, including such reasonable fees and expenses of attorneys and accountants, which
shall include all fees, costs and expenses of appeals.

 

    6

     

    

 

(k)          Titles
and Subtitles. The titles of the sections and subsections of this Agreement are for convenience of reference only and are not
to be considered in construing this Agreement.

 

(l)          Signatures;
Counterparts. This Agreement may be executed by facsimile or electronic signatures and in any number of counterparts, each
of which shall be an original, but all of which together shall constitute one agreement.

 

(m)         Construction.
Each party acknowledges that its legal counsel participated in the preparation of this Agreement and, therefore, stipulates
that the rule of construction that ambiguities are to be resolved against the drafting party shall not be applied in the
interpretation of this Agreement to favor any party against the other. Unless the context otherwise requires, (i) words in
the singular or plural include the singular and plural and pronouns stated in either the masculine, the feminine or neuter
gender shall include the masculine, feminine and neuter, (ii) the words “hereof,” “herein” and words
to similar effect refer to this Agreement in its entirety, and (iii) the use of the word “including” in this
Agreement shall be by way of example rather than limitation.

 

7.          Survival.
All representations and warranties of the parties under this Agreement shall survive XXXX’s Capital Contribution to the Company
and uSell’s contribution of the Services to the Company.

 

[The balance of this page
is intentionally left blank.]

 

    7

     

    

 

IN WITNESS WHEREOF, the
parties have executed this Contribution Agreement as of the day and year first above written.

 

	 	XXXX 
	 	 
	 	 
	 	By: 	 
	 	Name:  
	 	Title:  
	 	 
	 	 
	 	USELL.COM, INC.
	 	 
	 	 
	 	By: 	 
	 	Name:  Nikhil Raman 
	 	Title:  CEO 
	 	 
	 	 
	 	 
	 	XXXX
	 	 
	 	By: 	 
	 	Name:  
	 	Title:  

 

    8Exhibit 10.3

 

FORM OF NON-COMPETITION AND

CONFIDENTIALITY AGREEMENT

 

This Non-Competition and
Confidentiality Agreement (the “Agreement”) is entered into as of January 13, 2017 (the “Effective Date”)
by and among uSell.com, Inc., a Delaware corporation (“uSell”), BST Distribution, Inc., a New York corporation (“BST”),
We Sell Cellular, LLC, a Delaware limited liability company (“WeSell”), and each of their affiliates, and XXXX, a Delaware limited liability LLC (the “LLC”) (collectively, the “Companies”), and _________ Tepfer
(“Tepfer” or the “Executive”). The Companies and Tepfer are collectively referred to herein as the “Parties”)
for all purposes under this Agreement except where apparent from the context the word uSell includes all of its affiliates.

 

WHEREAS, uSell owns membership
interests in the LLC;

 

WHEREAS, Tepfer is an officer
and equityholder of uSell;

 

WHEREAS, Tepfer is also
employed by uSell through an Employment Agreement, as amended, with BST and WeSell and as an employee he provides services to uSell,
BST, WeSell and their affiliates;

 

WHEREAS, uSell has agreed
to provide certain services to the LLC pursuant to a Services Agreement between uSell and its affiliates and the LLC; and

 

WHEREAS, the Companies
are presently and/or expect to be engaged in following the date of this Agreement, the purchasing of cell phones, smart phones,
tablets and related accessories (the “Business”).

 

NOW, THEREFORE, in consideration
of the compensation paid to Tepfer by BST and WeSell (and their affiliates) and distributions which uSell may receive from the
LLC, which Tepfer acknowledges to be good and valuable consideration for Tepfer’s obligations hereunder, the Parties hereby
agree as follows:

 

1.            Non-Competition
Agreement.

 

(a)          Competition
with the Companies. During the period that Tepfer is employed by uSell or any of its affiliates and for a period of one (1)
year commencing on the date of termination of his employment with uSell or any of its affiliates (the “Restricted Period”),
Tepfer shall not, directly or indirectly, individually or through any other person, whether as an employee, officer, employer,
owner, operator, manager, advisor, consultant, agent, partner, director, stockholder, joint venturer, member, or otherwise, engage
in or assist others to engage in the Business or compete in any way with any or all of the Companies anywhere in the world.

 

(b)          Solicitation
of Employees. During the Restricted Period, Tepfer agrees that he shall not, directly or indirectly, (i) solicit, recruit,
induce, request, recommend or advise any employee of the Companies (or any individual who was an employee of any of the Companies
during the twelve (12) month period prior to the end of the Restricted Period), (ii) cause any such individual to terminate his
or her employment with any of the Companies, or refrain from renewing or extending his or her employment by or consulting relationship
with any of the Companies or (iii) cause any such individual to become employed by or enter into a consulting relationship with
a person other than the Companies.

 

     

     

    

 

(c)          Solicitation
of Customers/Suppliers. During the Restricted Period, Tepfer agrees that he shall not, directly or indirectly, (i) solicit,
persuade or induce any customer or supplier of any of the Companies to terminate, reduce, disrupt or refrain from renewing or extending
its contractual or other relationship with any of the Companies in regard to the purchase or sale of products sold, by any of the
Companies or any other individual, person or entity in regard to the purchase of similar or identical to those purchased and sold,
by the Companies.

 

(d)          Extension
of Restricted Period. Notwithstanding anything to the contrary herein, the Restricted Period shall only terminate on the later
of (i) the Restricted Period as set forth in Section 1(a) and (ii) such time that all Liabilities have been indefeasibly paid in
full and the Companies’ right to request financial accommodations under the Note Purchase Agreement has been terminated.
For purposes of the foregoing sentence, (a) the term “Liabilities” shall have the meaning given to such term in the
Note Purchase Agreement and (b) the term “Note Purchase Agreement” shall mean the Note Purchase Agreement dated as
of January 13, 2017 by and among certain of the Companies, the Purchasers named and as defined therein and _________________________________,
as agent for such Purchasers, as the same may be amended, modified and supplemented from time to time.

 

(e)          Non-disparagement.
Tepfer agrees that during the period that he is employed by uSell (or any of its affiliates), and at all times thereafter, he will
refrain from making, in writing or orally, any unfavorable comments about any of the Companies, or any of their owners, officers,
directors, employees or agents, or their operations, policies, or procedures, cause embarrassment or public humiliation to such
persons or otherwise disparage such persons; provided, however, that nothing herein shall preclude Tepfer from responding
truthfully to a lawful subpoena or other compulsory legal process or from providing truthful information otherwise required by
law.

 

(f)          No
Payment. Tepfer acknowledges and agrees that no separate or additional payment will be required to be made to him in consideration
of his undertakings in this Section 1, and confirms he has received adequate consideration for such undertakings and entering into
this Agreement.

 

(g)          Exception.
If during the Restricted Period, any of the Companies engages in a new business that was not operated or contemplated by any of
the Companies while the Executive was employed by uSell, the foregoing restrictions in Section 1 shall not apply to that business.

 

    	 	2	 

     

    

 

2.            Non-Disclosure
of Confidential Information.

 

(a)          Confidential
Information. For purposes of this Agreement, “Confidential Information” includes, but is not limited to, trade
secrets, processes, policies, procedures, techniques, designs, drawings, know-how, show-how, technical information, specifications,
computer software and source code, information and data relating to the development, research, testing, costs, marketing, the budgets
and strategic plans of any of the Companies, and the identity and special needs of customers, vendors, and suppliers, databases,
data, and all technology relating to the business of any of the Companies, systems, methods of operation, solicitation of leads,
marketing and advertising materials, methods and manuals and forms, all of which pertain to the activities or operations of the
any of the Companies, the names, home addresses and all telephone numbers and e-mail addresses of the employees and employees of
customers, vendors and suppliers of any of the Companies. Confidential Information also includes, without limitation, Confidential
Information received from the subsidiaries and affiliates any of the Companies. For purposes of this Agreement, the following will
not constitute Confidential Information: (i) information of uSell which is permitted to compete with the LLC as specified in a
Service Agreement it enters into with the LLC, (ii) information which is or subsequently becomes generally available to the public
through no act or fault of the Executive, (iii) for the LLC, information set forth in the written records of the Executive or uSell
prior to disclosure to any person on behalf of the LLC and (iv) information which is lawfully obtained by the Executive in writing
from a third party who lawfully acquired the confidential information and who did not acquire such confidential information or
trade secret, directly or indirectly, from any of the Companies and who has not breached any duty of confidentiality.

 

(b)          Legitimate
Business Interests. The Executive recognizes that the Companies have legitimate business interests to protect and as a consequence,
the Executive agrees to the restrictions contained in this Agreement because they further the Companies’ legitimate business
interests. These legitimate business interests include, but are not limited to (i) trade secrets; (ii) valuable confidential business,
technical, and/or professional information that otherwise may not qualify as trade secrets, including, but not limited to, all
Confidential Information; or (iii) substantial, significant, or key relationships with specific prospective or existing and future
customers, vendors or suppliers.

 

(c)          Confidentiality.
During the term of the Executive’s employment with uSell (or any of its affiliates) and following termination of employment,
for any reason, the Confidential Information shall be held by Tepfer in the strictest confidence and shall not, without the prior
express written consent of the manager of the LLC, be disclosed to any person other than in connection with Tepfer’s employment
by uSell (or any of its affiliates). The Executive further acknowledges that such Confidential Information as is acquired and used
by any of the Companies is a special, valuable and unique asset. The Executive shall exercise all due and diligent precautions
to protect the integrity of the Confidential Information and to keep it confidential whether it is in written form, on electronic
media, oral, or otherwise. The Executive shall not copy any Confidential Information except to the extent necessary to his employment
with uSell (or any of its affiliates) nor remove any Confidential Information or copies thereof from the premises any of the Companies
except to the extent necessary to his employment with uSell. Upon termination of his employment with uSell (or any of its affiliates),
the Executive shall immediately return any Confidential Information to the Companies. All records, files, materials and other Confidential
Information obtained by the Executive in the course of his employment with uSell are confidential and proprietary and shall remain
the exclusive property of any of the Companies. The Executive shall not, except in connection with and as required by his performance
of his duties under this Agreement, for any reason use for his own benefit or the benefit of any person or entity other than any
of the Companies or disclose any such Confidential Information to any person, firm, corporation, association or other entity, except
to or on behalf of uSell, for any reason or purpose whatsoever without the prior express written consent of the manager of the
LLC.

 

    	 	3	 

     

    

 

(d)          Whistleblowing.
Nothing contained in this Agreement shall be construed to prevent the Executive from reporting any act or failure to act to the
Securities and Exchange Commission or other governmental body or prevent the Executive from obtaining a fee as a “whistleblower”
under Rule 21F-17(a) under the Securities Exchange Act of 1934 or other rules or regulations implemented under the Dodd-Frank Wall
Street Reform Act and Consumer Protection Act.

 

(e)          Notice
of Immunity under the Defend Trade Secrets Act of 2016. In addition to the provisions of Section 2(d):

 

(i) The Executive will not be
held criminally or civilly liable under any federal or state trade secret law for any disclosure of a trade secret that:

 

(A)  is made: (1) in confidence
to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (2) solely for the purpose
of reporting or investigating a suspected violation of law; or

 

(B)  is made in a complaint
or other document that is filed under seal in a lawsuit or other proceeding.

 

(ii)  if the Executive files
a lawsuit for retaliation by any of the Companies for reporting a suspected violation of law, the Executive may disclose the trade
secrets of any of the Companies to his attorney and use the trade secret information in the court proceeding if the Executive:

 

(A)  files any document
containing the trade secret under seal; and

 

(B)  does not disclose the
trade secret, except pursuant to court order.

 

3.            Equitable
Relief.

 

(a)          The
Companies and the Executive recognize that the services to be rendered under this Agreement by the Executive are special, unique
and of extraordinary character, and that in the event of the breach by the Executive of the terms and conditions of this Agreement
or if the Executive shall or take any action in violation of Section 1 and/or Section 2, any of the Companies shall be entitled
to, in addition to any other remedy which may be available at law or in equity, specific performance and injunctive relief without
posting a bond or proving actual damages, in order to prevent any actual, intended or likely breach.

 

    	 	4	 

     

    

 

(b)          Any
action arising from or under this Agreement must be commenced only in the appropriate state or federal court located in New York
County, New York. The Executive irrevocably and unconditionally submits to the exclusive jurisdiction of such courts and agrees
to take any and all future action necessary to submit to the jurisdiction of such courts. The Executive irrevocably waives any
objection that they now have or hereafter may have to the laying of venue of any suit, action or proceeding brought in any such
court and further irrevocably waive any claim that any such suit, action or proceeding brought in any such court has been brought
in an inconvenient forum. Final judgment against the Executive in any such suit shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment, a certified or true copy of which shall be conclusive evidence of the fact and the amount
of any liability of the Executive therein described, or by appropriate proceedings under any applicable treaty or otherwise.

 

4.            Severability.

 

(a)          The
Executive expressly agrees that the character, duration and geographical scope of the non-competition provisions set forth in this
Agreement are reasonable in light of the circumstances as they exist on the date hereof. Should a decision, however, be made at
a later date by a court of competent jurisdiction that any provision of this agreement is unenforceable, such provision shall be
modified and interpreted to extend only over the maximum period of time for which they may be enforceable and/or over the maximum
geographical area as to which it may be enforceable and/or to the maximum extent in all other respects as to which they may be
enforceable, all as determined by such court in such action so as to be enforceable to the maximum extent consistent with then
applicable law. If, in any judicial proceeding, a court shall refuse to enforce all of the separate covenants deemed included herein
because taken together they are more extensive than necessary to assure to the Companies the intended benefits of this Agreement,
it is expressly understood and agreed by the parties hereto that the provisions of this Agreement that, if eliminated, would permit
the remaining separate provisions to be enforced in such proceeding shall be deemed eliminated to the extent necessary, for the
purposes of such proceeding, from this Agreement.

 

(b)          If
any provision of this Agreement otherwise is deemed to be invalid or unenforceable or is prohibited by the laws of the state or
jurisdiction where it is to be performed, this Agreement shall be considered divisible as to such provision and such provision
shall be inoperative in such state or jurisdiction and shall not be part of the consideration moving from either of the parties
to the other. The remaining provisions of this Agreement shall be valid and binding and of like effect as though such provisions
were not included.

 

5.            Notices
and Addresses. All notices, offers, acceptance and any other acts under this Agreement shall be in writing, and shall be sufficiently
given if delivered to the addressees in person, by FedEx or similar receipted delivery next business day delivery to the addresses
detailed below (or to such other address, as either of them, by notice to the other may designate from time to time), or by e-mail
delivery (in which event a copy shall immediately be sent by FedEx or similar receipted delivery), as follows:

 

    	 	5	 

     

    

 

	To the LLC:	XXXX
	 	________________
	 	________________
	 	Attention: _______
	 	 
	With a copy to:	Loeb & Loeb, LLP
	 	345 Park Avenue
	 	New York, NY 10154
	 	Email: sgiordano@loeb.com
	 	Attention: Scott Giordano, Esq.
	 	 
	To Tepfer:	________ Tepfer
	 	150 Executive Drive, Suite Q
	 	Edgewood, NY 11717
	 	Email: btepfer@wesell.com
	 	 
	To uSell, BST:	________ Tepfer
	 	150 Executive Drive
	 	Unit Q
	 	Edgewood, NY 11717
	 	Email: stepfer@wesell.com
	 	 
	and WeSell:	Nikhil Raman
	 	171 Madison Avenue, 17th Floor
	 	New York, NY 10016
	 	Email: nik@usell.com
	 	 
	With a copy to:	Nason, Yeager, Gerson White & Lioce, P.A.
	 	3001 PGA Blvd., Suite 305
	 	Palm Beach Gardens, Florida 33410
	 	Email: harris@nasonyeager.com
	 	Attention: Michael D. Harris, Esq.

 

6.            Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together
shall constitute one and the same instrument. The execution of this Agreement may be by actual or facsimile signature.

 

7.            Attorneys’
Fees. In the event that there is any controversy or claim arising out of or relating to this Agreement, or to the interpretation,
breach or enforcement thereof, and any action or proceeding is commenced to enforce the provisions of this Agreement, the prevailing
party shall be entitled to reasonable attorneys’ fees, costs and expenses (including such fees and costs on appeal).

 

8.            Governing
Law. This Agreement shall be governed or interpreted according to the internal laws of the State of Delaware without regard
to choice of law considerations and all claims relating to or arising out of this Agreement, or the breach thereof, whether sounding
in contract, tort, or otherwise, shall also be governed by the laws of the State of Delaware without regard to choice of law considerations.

 

    	 	6	 

     

    

 

9.            Entire
Agreement. This Agreement constitutes the entire Agreement between the parties and supersedes all prior oral and written agreements
between the parties hereto with respect to the subject matter hereof. Neither this Agreement nor any provision hereof may be changed,
waived, discharged or terminated orally, except by a statement in writing signed by the party or parties against which enforcement
or the change, waiver discharge or termination is sought.

 

10.          Section
and Paragraph Headings. The section and paragraph headings in this Agreement are for reference purposes only and shall not
affect the meaning or interpretation of this Agreement.

 

11.          Amendment.
This Agreement shall not be amended, modified or supplemented at any time or terminated without the consent of all parties to the
Agreement and the prior written consent of _____________________________.

 

    	 	7	 

     

    

 

IN WITNESS WHEREOF, the Parties have
executed this Agreement as of the Effective Date above.

 

	 	 	XXXX
	 	 	 	 
	 	 	By: 	 
	 	 	 	 
	 	 	USELL.COM, INC.
	 	 	 	 
	 	 	By:	 
	 	 	 	Nikhil Raman, Chief Executive Officer
	 	 	 	 
	 	 	BST DISTRIBUTION, INC.
	 	 	 	 
	 	 	By:	 
	 	 	 	_____Tepfer, _____________
	 	 	 	 
	 	 	WE SELL CELLULAR, LLC
	 	 	 	 
	 	 	By:	 
	 	 	 	Nikhil Raman, Manager
	 	 	 	 
	_________ TEPFER

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