Document:

Exhibit 10.6

 

EXECUTION VERSION

 

PLATFORM EXCLUSIVE LICENSE AGREEMENT

 

This PLATFORM EXCLUSIVE
LICENSE AGREEMENT (this “Agreement”) is made and entered into as of December 31, 2019 (the “Effective
Date”), among CIMA Telecom, Inc. (dba CIMA Group), a Florida corporation with an address of 1728
Coral Way, 6th Floor, Miami, FL 33145 (“CIMA”), KNETIK, INC, a Delaware corporation,
with an address for correspondence at 150 N. Westmonte Drive, Altamonte Springs, Florida 33145 (“Knetik”), AURIS,
LLC, a Florida limited liability company with an address for correspondence at 1728 SW 22nd St., 6th
Floor, Miami, Florida 33145 (“Auris” and, with CIMA and Knetik, collectively, the “Licensor”),
and CUENTAS, INC., a Florida corporation with an address for correspondence at 200 S. Biscayne Blvd., Suite 5500, Miami,
Florida 33131 (the “Licensee” and together, with the Licensor, the “Parties” and each a “Party”).

 

Recitals

 

WHEREAS, Licensor and Licensee entered
into the Note and Warrant Purchase Agreement (the “Purchase Agreement”), pursuant to which Licensee paid Nine
Million Dollars ($9,000,000) in the form of a Convertible Promissory Note to Licensor as consideration for the license of the rights
and privileges in the Platform (defined below), as set forth in this Agreement; and

 

WHEREAS, Licensor desires to grant
to Licensee, and Licensee desires to obtain from Licensor, the license to access and use the Platform (as defined below), all on
the terms and conditions set out below.

 

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

 

Agreement

 

1.
Definitions. The following terms have the meanings ascribed below:

 

1.1. “Agreement”
means this Agreement, and any exhibit, schedule, addendum, or amendment hereto. In the event of a conflict between this Agreement
and any Statement of Work, exhibit, schedule, or addendum, the body of this Agreement shall control, unless expressly stated to
the contrary in such additional document, and executed by the Party against whom enforcement is sought.

 

1.2. “Auris
Platform” means a platform as a service solution made available by Auris, which is used for managing consumer telephony
products and designed to: (i) allow mobile network operators, mobile virtual network operators, mobile service operators, and distribution
networks to offer or expand their consumer voice service offerings; (ii) be scalable and redundant both geographically and logically;
(iii) provide tools to allow customers to create and manage their retail telecom offerings; (iv) to enable VoIP services via IP,
mobile applications, and APIs. (See Exhibit 1.2 (Auris Platform Description)).

 

1.3. “Documentation”
means any written, printed, or otherwise recorded or stored material that relates to the Platform, including technical specifications,
training and support materials, and other instructions.

 

1.4. “Escrow
Materials” means the version of the Platform deposited under the Escrow Agreement, including object code, binary code,
and Source Code.

 

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1.5. “Field
of Use” means the business of triggering a request of an individual natural person located within the United States to
establish financial accounts that will be linked to such financial accounts with a general purpose of establishing reloadable payment
card by the financial institution after their compliance acceptance, creating a mobile application that provides mobile wallet
functionality by interacting with the financial institution, and processing and or recording payments made by end users using such
cards and applications among accounts, merchants, and financial institutions.

 

1.6. “Improvement”
means any invention, modification, addition, derivative work, enhancement, revision, translation, abridgment or expansion of the
Platform, and any idea, conception, concept, enhancement, discovery, design, improvement, creation, and reduction incorporated
into the Platform.

 

1.7. “Intellectual
Property” or “Intellectual Property Rights” means any and all copyrights, trademarks, Patent Rights,
whether registered or unregistered and trade secrets, whether under common, statutory, or federal law, and further including, without
limitation, all proprietary, moral, and database rights associated with the technology, inventions, know-how, show-how, designs,
formulae, processes, techniques, ideas, artwork, software, works of authorship, and any suggestions, enhancement requests, feedback,
recommendations or other similar information relating to the Platform and any document or other materials embodying any of the
foregoing, whether or not any of the same are patentable or copyrightable, and any and all related Documentation.

 

1.8. “Knetik
Platform” means a software application made available by Knetik that is designed to facilitate the instantiation, management,
and retirement of: (i) an online storefront; (ii) online catalog of products to be offered via the storefront; (iii) shopping cart
functionality to support the ordering of products from the store front; (iv) product offerings with bundled discount-pricing, and
consolidated checkout; (v) economic instruments, including range of virtual wallets defined against fiat and/or virtual currencies;
(vi) coupon functionality for discounting of products via the storefront (vii) loyalty program functionality for incentivizing
the users of the storefront; (viii) invocation of communication capabilities for email, text, carrier (“push”) notifications
and telephonic voice notification for users of the storefront; and (ix) processing of reports in support of the transaction which
transpire on the storefront.(See Exhibit 1.8 (Knetik Platform Description)).

 

1.9. “Licensee
Customer” means an individual natural person that enters into an agreement with Licensee regarding Licensee’s provision
of services within the Field of Use.

 

1.10. “Licensee
Data” means any data or information that Licensee, or Licensee Customers, submits to Licensor via the Platform or otherwise
in connection with this Agreement.

 

1.11. “Licensee
Improvements” means Improvements to the Platform conceived, crafted, acquired, developed, or made by or on behalf (by
a Representative) of Licensee after the Use Release Event, including all Intellectual Property Rights of Licensee therein or thereto.

 

1.12. “Licensor
Improvements” means Improvements and updates to the Platform that meet both of the following two conditions, the Improvements
and updates to the Platform are: (i) conceived, crafted, acquired, developed, or made by or on behalf (by a Representative) of
Licensor after the Effective Date hereof, and (ii) are expressly made available to Licensee by Licensor in connection with Licensee’s
use of the Platform as permitted herein. The term Licensor Improvements include all associated Intellectual Property Rights of
Licensor.

 

1.13. “Licensor
Intellectual Property” means all Intellectual Property owned by Licensor.

 

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1.14. “Losses”
means any loss, damage, liability, claim, demand, settlement, judgment, award, fine, penalty, deficiencies, fee (including reasonable
attorneys’, accountants’ and other advisors’ fees), charge, cost (including costs of investigation) or expense
of any nature; provided that in no case will “Losses” include punitive, consequential, indirect, diminution in value,
special or any similar damages (other than in respect of such amounts paid to a third-party).

 

1.15. “Patent
Rights” means rights under and to patents, patent applications, divisions, continuations, continuations-in-part, reissues,
renewals, extensions, supplementary protection certificates, utility models, and the like of such patents and patent applications,
and foreign counterparts and equivalents thereof.

 

1.16. “Platform”
means, collectively: (i) the Knetik Platform and the Auris Platform as each exists on the Effective Date, and (ii) Licensor Improvements.
The term “Platform” expressly excludes Third Party Materials.

 

1.17. “Representative”
means any employee, agent, affiliate, subcontractor, or independent contractor given the authority to act on behalf of a given
Party.

 

1.18. “Source
Code” means computer programs, instructions, and related material written in a human-readable source language in a form
capable of serving as the input to a compiler or assembler program, and in a form capable of being modified, supported, and enhanced
by programmers reasonably familiar with the source language. The term “Source Code” includes reasonable programmer
notes to the extent that the same is available.

 

1.19. “Statement
of Work” means a statement of work specifying the Out-of-Scope Services to be provided, that is signed by both Parties,
and that references this Agreement.

 

1.20. “Third
Party Materials” has the meaning set forth in Section 5.2 (Third Party Materials).

 

1.21. “Use
Release Event” has the meaning set out in Section 4.4 (Notice of Access Condition; Release of Escrow Materials).

 

2.
Grant of Rights.

 

2.1. Grant of Rights
to Licensee During the Term.

 

2.1.1. Limited Exclusive
Grant of Rights in Platform. Subject to the terms and conditions of this Agreement, including Section 2.1.3 (Limitation on
Exclusivity), Licensor, under its Intellectual Property Rights, hereby grants to Licensee during the Term, an exclusive, non-transferrable
(except to a wholly-owned subsidiary and further subject to Section 20.11 (Assignment; Successors)), non-sublicensable (subject
to Section 2.1.4 (Limitation on Sublicenses)), royalty-free license to access and use the Platform in the form provided to it by
Licensor, and solely within the Field of Use for Licensee’s business purposes.

 

2.1.2. Non-Exclusive
Grant of Rights in Documentation. Subject to the terms and conditions of this Agreement, Licensor, under its Intellectual Property
Rights, hereby grants to Licensee during the Term, a non-exclusive, non-transferrable, non-sublicensable, royalty-free license
to copy, access, and use the Documentation as necessary for Licensee to exercise its rights pursuant to this Section 2.1 (Grant
of Rights to Licensee during the Term).

 

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2.1.3. Limitation
on Exclusivity. Licensee acknowledges and agrees that: (i) the exclusivity of its rights set out in Section 2.1.1 (Limited
Exclusive Grant of Rights in Platform) is limited to the use of the Platform within the Field of Use and shall not be interpreted
as limiting or otherwise preventing Licensor from exploiting the Platform outside of the limited Field of Use; (ii) Licensor continually
updates and modifies the Platform with Licensor Improvements, including Licensor Improvements that have direct applications within
the Field of Use, and nothing herein shall be interpreted as preventing, or otherwise limiting, Licensor’s right to continue
to make Licensor Improvements (including those that have direct application within the Field of Use); and (iii) the exclusivity
of its rights set out in Section 2.1.1 (Limited Exclusive Grant of Rights in Platform) shall terminate if the Agreement is terminated
for cause pursuant to Section 15.2 (Termination for Cause). Licensor acknowledges and agrees that it shall not license, sell or
transfer its rights in the Platform to any third parties within the Field of Use during the Term.

  

2.1.4. Limitation
on Sublicenses. Licensee acknowledges and agrees that the licenses granted to Licensee pursuant to Sections 2.1.1 (Limited
Exclusive Grant of Rights in Platform) and 2.1.2 (Non-Exclusive Grant of Rights in Documentation) shall not include the right to
grant sublicenses, except as provided in this Section 2.1.4 (Limitation on Sublicenses). If Licensee wishes to sublicense the Platform
or Documentation, then Licensee shall provide a written notice to Licensor regarding the sublicensing opportunity, and Licensor
shall determine in its sole discretion whether to consent to such sublicensing. For the avoidance of doubt, Licensee shall not
sublicense the Platform or Documentation except with Licensor’s prior written consent, which consent shall not be unreasonably
withheld. Each such approved sublicensing shall be memorialized in a written agreement between Licensee and the applicable sublicensee
(each, a “Sublicense Agreement”). Each Sublicense Agreement shall include grants of rights to the applicable
sublicensee that are consistent with the grants of rights to Licensee set forth in this Agreement, and shall incorporate terms
and conditions sufficient to enable Licensee to comply with this Agreement, including, but not limited to, its confidentiality
and use restrictions. Licensee shall provide to Licensor a fully signed and non-redacted copy of each Sublicense Agreement and
amendments thereto, including all exhibits, attachments and related documents, within five (5) days of executing the same.

 

2.2. Grant of Rights
to Licensee Upon a Use Release Event.

 

2.2.1. Right to Escrow
Material. Upon a Use Release Event, subject to the terms and conditions of this Agreement, Licensee shall have during the Term
a limited, non-transferrable license to install, copy, modify, display, distribute, perform, access, execute, and use the Escrow
Materials in order to update, maintain, and otherwise use the Platform within the Field of Use.

 

2.2.2. Right to Make
Licensee Improvements. Upon a Use Release Event, Licensee shall have the right to make and exploit Licensee Improvements to
the Platform; provided, however, that Licensee’s use and exploitation of Licensee Improvements are limited to the Field of
Use. By way of clarification, and not limitation, Licensee agrees that it shall have no right under this Agreement to make Licensee
Improvements prior to a Use Release Event. If Licensee desires Improvements to the Platform prior to a Use Release Event, then
Licensee shall present a written request to Licensor regarding the same, and the Parties shall proceed as set out in Agreement
Section 5 (Improvements; Out-of-Scope Services).

 

2.3. Grant of Rights
to Licensor.

 

2.3.1. Grant of Rights
in Licensee Data. Subject to the terms and conditions of this Agreement, Licensee, under its Intellectual Property Rights,
hereby grants to Licensor during the Term a limited, non-exclusive, non-transferable, sublicensable license to access, copy, and
modify Licensee Data, but solely for the purpose of Licensor fulfilling its obligations to Licensee under this Agreement.

 

2.3.2. Perpetual Grant
of Rights in Licensee Improvements; Disclosure of Licensee Improvements. Subject to the terms and conditions of this Agreement,
Licensee, under its Intellectual Property Rights, hereby grants to Licensor, a perpetual, royalty-free, non-exclusive, fully paid-up,
irrevocable, worldwide license to use, copy, modify, distribute, and otherwise exploit the Licensee Improvements for Licensor’s
business purposes. Licensee shall, within thirty (30) days of final testing and approval of any Licensee Improvement, disclose
such Licensee Improvements to Licensor and provide Licensor with all related Source Code to such Licensee Improvements.

 

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2.4. No Implied
Rights. Any license granted under this Agreement must be expressly provided herein, and there shall be no licenses or rights
implied pursuant to this Agreement, based on any course of conduct, or other construction or interpretation thereof. All rights
and licenses not expressly granted herein are reserved.

 

3.
Ownership.

 

3.1. Licensor Ownership.
The Platform, Documentation, and Escrow Materials are licensed, and not sold, to Licensee. Licensee agrees that, subject to the
terms and conditions of this Agreement, Licensor is the sole and exclusive owner of all of the right, title, and interest in and
to the Platform, Escrow Materials, and Documentation, and in and to all associated Intellectual Property Rights.

 

3.2. Licensee Ownership
of Licensee Data and Licensee Improvements. The Licensee Data and Licensee Improvements are licensed, and not sold, to Licensor.
Licensor agrees that, as between the Parties and subject to the terms and conditions of this Agreement, Licensee is the sole and
exclusive owner of all of the right, title, and interest in and to the Licensee Data and Licensee Improvements, and in and to all
associated Intellectual Property Rights.

 

4.
Platform Escrow. Subject to Licensee’s continued compliance with its obligations under this Agreement,
Licensee shall be entitled to access and use the Escrow Materials as permitted pursuant to Section 4.5 (Right to Use Escrow Materials
Following Release), subject to the following:

 

4.1. Software Escrow
Agreement. Within thirty (30) days of the Effective Date, the Parties shall enter into a mutually agreeable software escrow
agreement (the “Software Escrow Agreement”) with a mutually agreeable escrow agent (the “Escrow Agent”).
The Software Escrow Agreement shall contain rights and obligations with respect to the Parties that are the same in all material
respects as those set out in this Section 4 (Platform Escrow).

 

4.2. Escrow Material
Deposit. Within five (5) days of the execution of the Software Escrow Agreement, Licensor shall deposit the Escrow Materials
into escrow with the Escrow Agent. Licensee shall be responsible for all escrow fees and all other fees and costs charged by the
Escrow Agent.

 

4.3. Access Conditions.
Any of the following events during the Term constitutes an “Access Condition”: (i) Licensor releases the Source
Code to Licensee; (ii) Licensor makes a general assignment for the benefit of creditors, suffers, or permits the appointment of
a receiver for its business or assets, or has voluntarily wound up or liquidated its business (or that segment of its business
pertinent to this Agreement); (iii) Licensor as a debtor-in possession or a trustee-in-bankruptcy in a case under the United States
Bankruptcy Code rejects this Agreement; (iv) Licensor breaches its obligations under this Agreement, fails to cure such breach
within sixty (60) days upon receipt of Licensee’s written notice, and fails to pay the liquidated damages, as set forth in
Section 15.2 (Termination for Cause); or (v) Licensee, in its sole discretion, elects to access the Escrow Material.

 

4.4. Notice of Access
Condition; Release of Escrow Materials. Upon the occurrence of an Access Condition, Licensee shall notify Licensor and the
Escrow Agent of its intent to access the Escrow Materials as permitted pursuant to Section 4.5 (Right to Use Escrow Materials Following
Release). Upon (i) the completion of all transactions under all agreements by and between the Parties(including the Purchase Agreement)
or Licensor’s written waiver of such condition; and (ii) Licensee’s payment of the Use Release Event Fees as set out
in Section 9.3 (Use Release Event Fees), Licensor shall notify the Escrow Agent to release the Escrow Materials to Licensee (the
“Release Notice”). Upon receipt of the Release Notice, the Escrow Agent shall release the Escrow Materials to
Licensee. The date upon which the Escrow Materials are released to Licensee as permitted pursuant to this Section 4.4 (Notice of
Access Condition; Release of Escrow Materials) is referred to herein as the “Use Release Event”.

 

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4.5. Right to Use
Escrow Materials Following Release. Upon the Use Release Event, Licensee shall have those rights in the Escrow Materials set
out in Section 2.2.1 (Right to Escrow Material).

 

4.6. Source Code
is Confidential Information. Source Code for the Platform is Licensor Confidential Information, and Licensee shall only access
such Source Code as permitted pursuant to this Agreement and the Software Escrow Agreement. Licensee shall take all reasonable
measures to protect the Source Code from theft, or unauthorized disclosure, reproduction, or copying. Licensee shall allow use
of, or access to, the Source Code only by Licensee employees and contractors that have a need to use the Source Code for Licensee
to exercise its rights with respect to the Source Code set forth herein and who have agreed to confidentiality restrictions that
are at least as restrictive as those set out in this Agreement; provided, however, in no event shall Licensee allow use of, or
access to, the Source Code for the Platform by any third party that, in Licensor’s reasonable discretion, is a direct or
indirect competitor of Licensor. Licensee shall notify Licensor at least fifteen (15) days prior to engaging any third party to
access or use the Source code for the Platform, and such notice shall include the identity of the third party. Licensor shall notify
Licensee within such fifteen (15) day period if the designated third party is a competitor of Licensor and, if such third party
is designated as a Licensor competitor, then Licensee shall be prohibited from allowing such third party to access or use the Source
Code for the Platform.

 

4.7. Effect of Use
Release Event. Upon the occurrence of a Use Release Event, each of the following obligations and provisions shall immediately
terminate and shall have no remaining effect: (i) Licensor’s obligations to provide, and Licensee’s rights to receive,
the Maintenance and Support Services; and (ii) Sections 12.1 (Licensor Representations and Warranties), 14.1 (Indemnification by
Licensor), and 18 (Network Load Levels). For the avoidance of doubt, except as expressly set forth in this Agreement, the occurrence
of a Use Release Event shall not impact any of Licensee’s obligations set out in this Agreement. By way of example, and not
limitation, Licensee’s obligations to comply with applicable Laws as set forth in Section 6.1 (Licensee Sole Obligation to
Comply with Law) shall continue in force after the occurrence of a Use Release Event.

 

4.8. Transition
Assistance. Upon the occurrence of a Use Release Event, Licensor shall provide Licensee with reasonable assistance, cooperation,
and consultation in connection with Licensee’s transition of the Platform and Licensee Data from the Hosting Vendor to a
third party designated by Licensee (the “Transition Assistance”). All Transition Assistance shall be treated
as Out-of-Scope Services and provided pursuant to Section 5 (Out-of-Scope Services).

 

5.
Out-of-Scope Services.

 

5.1. Statement of
Work. Licensee acknowledges and agrees that Licensor shall not have any duties or responsibilities in connection with the licensing
of the Platform, other than those expressly set forth in this Agreement, and that no implied obligations, shall be read into this
Agreement. If Licensee desires services other than those expressly set forth in this Agreement (“Out-of-Scope Services”),
then it shall present a written request to Licensor outlining such work. The Parties shall then negotiate in good faith a written
Statement of Work, and such Statement of Work shall include a detailed description of the Out-of-Scope Service to be provided,
an estimated delivery schedule, and fees associated with the provision of Out-of-Scope Service. When both Parties have signed a
Statement of Work, the Statement of Work shall be deemed incorporated into and made a part of this Agreement for all purposes.
By way of clarification, and not limitation, Licensee shall have no right to engage third parties during the Term to provide any
Out-of-Scope Services relating to the subject matter of this Agreement, including any relating to the Platform.

 

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5.2. Third Party
Materials. Licensee acknowledges that the Platform may include materials owned by third parties (collectively, the “Third
Party Materials”), including those specified on Exhibit 5.2 (List of Third Party Materials) attached hereto, and that
the licenses granted to Licensee in Section 2 (Grant of Rights) do not include rights to any Third Party Materials. Licensor shall
obtain, at Licensee’s expense as set forth in Section 9 (Consideration), rights, licenses, consents, and permissions necessary
to use the Third Party Materials during the Term. Similarly, if any Out-of-Scope Service requires the use of Third Party Materials,
then Licensor shall identify such Third Party Materials, and, upon written request, Licensor shall obtain, at Licensee’s
expense, rights, licenses, consents, and permissions necessary to use such Third Party Materials during the Term.

 

6.
Compliance with Laws; Use of Platform.

 

6.1. Licensee Sole
Obligation to Comply with Law. Licensee acknowledges and agrees that: (i) Licensee is solely responsible for determining what
Licensee Data (including information pertaining to Licensee Customers) is submitted to the Platform, and Licensor’s use of
such Licensee Data is at Licensee’s direction; and (ii) the Platform was not designed to ensure compliance with specific
international, federal, state, or local laws, rules, regulations, or industry standards and requirements (collectively, the “Laws”)
including, but not limited to, those Laws applicable to Licensee’s intended use of the Platform. Accordingly, Licensee further
acknowledges and agrees that: (a) Licensee shall comply with all applicable Laws, including those relating to the Intellectual
Property of others, in all activities involving the Platform and the licenses and rights granted to Licensee under this Agreement,
all at Licensee’s sole cost and expense and without any reliance on Licensor or the Platform; (b) Licensor does not guarantee
or otherwise represent that the Platform will comply with any Laws or meet any legal or industry requirements; and (c) as between
the Parties, Licensee is solely responsible and liable for its use of the Platform, including complying with applicable Law in
connection with such use by Licensee and any Licensee Customers. Licensee shall be solely responsible and liable for any and all
claims brought against either Party relating to the use of the Platform by Licensee and Licensee Customers including, but not limited
to, claims made by third parties that the Licensee Data (including information pertaining to Licensee Customers) was collected
or used in a manner that violates Law.

 

6.2. Legal Compliance.
If Licensee desires Licensor to develop Improvements or make any configurations, modifications, customizations, or other changes
to the Platform to comply with any Laws or to meet any legal requirements, and Licensor agrees to provide such changes, then the
provision of such changes shall constitute an Out-of-Scope Service subject to a Statement of Work.

 

7.
Enforcement Obligations.

 

7.1. Notice of Potential
Infringement. In the event that either Party becomes aware that a product or service being made, used, sold, or imported by
a third party infringes any Intellectual Property Rights embodied in the Platform, such Party shall promptly advise the other Party
of all known facts and circumstances relating thereto.

 

7.2. Infringement
Action by Licensee. Licensee shall have the first right to enforce, at Licensee’s sole cost, Intellectual Property Rights
embodied in the Platform against infringement by third parties. Licensor shall reasonably cooperate in any such enforcement and,
if necessary, join as a party therein, at Licensee’s reasonable expense. Should Licensee elect to enforce an infringement
action at its sole cost, Licensee shall retain all proceeds resulting from such enforcement.

 

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7.3. Infringement
Action by Licensor. In the event that Licensee does not file suit against or commence settlement negotiations with a substantial
infringer of an Intellectual Property Right embodied in the Platform within two (2) months after receipt of a written demand from
Licensor that Licensee bring suit, Licensor shall have the right to enforce at its own cost any Intellectual Property Rights embodied
in the Platform on behalf of itself and Licensee. Licensee shall reasonably cooperate with Licensor in such action, at Licensor’s
reasonable expense. Should Licensor elect to enforce an infringement action at its sole cost pursuant to this Section 7.3 (Infringement
Action by Licensor), Licensor shall be entitled to retain all proceeds resulting from such enforcement.

 

8.
Maintenance and Support. Licensor shall provide Licensee with the maintenance and support services for
the Platform as set forth in Schedule A (Maintenance and Support) (collectively, the “Maintenance and Support
Services”) during the Term. Notwithstanding anything to the contrary, upon a Use Release Event, Licensor shall have no
obligation to provide Maintenance and Support Services to Licensee.

 

9.
Consideration.

 

9.1. Fees.

 

9.1.1. License Fees.
As part of the consideration for this Agreement and the licenses granted herein, Licensee shall pay Licensor a licensing fee of
Nine Million Dollars ($9,000,000) (the “Licensing Fee”), which shall be paid in the form of a Convertible Promissory
Note executed and delivered by Licensee in favor of Licensor on the Effective Date.

 

9.1.2. Maintenance
Fees. During the Term, Licensee shall pay Licensor annual fees for the Maintenance and Support Services as follows (the “Maintenance
Fees”): (i) for the first (1st) calendar year from the Effective Date, Three Hundred Thousand Dollars ($300,000.00)
paid on the date that is six (6) calendar months from the Effective Date; (ii) for the second (2nd) calendar year from
the Effective Date, Five Hundred Thousand Dollars ($500,000.00) paid on the first (1st) anniversary of the Effective
Date; (iii) for the third (3rd) calendar year from the Effective Date, Seven Hundred Thousand Dollars ($700,000.00)
paid on the second (2nd) anniversary of the Effective Date; (iv) for the fourth (4th) calendar year from
the Effective Date, One Million Dollars ($1,000,000.00) paid on the third (3rd) anniversary of the Effective Date; (v)
for the fifth (5th) calendar year from the Effective Date, Six Hundred and Forty Thousand Dollars ($640,000.00) paid
on the fourth (4th) anniversary of the Effective Date; and (vi) for each calendar year thereafter, Six Hundred and Forty
Thousand Dollars ($640,000.00) paid on the anniversary of the Effective Date. The Maintenance Fees may not be increased by Licensor
without the prior written approval from Licensee. The failure to pay any Maintenance Fee, in whole or in part, shall constitute
a material breach of this Agreement.

 

9.1.3. Pass-Through
Fees. Subject to Section 9.1.4 (Licensee Direct Payment of Pass-Through Fees), Licensee shall pay to Licensor all third party
fees incurred by Licensor in connection with its provision of the Platform pursuant to this Agreement, including fees for Third
Party Materials, electricity, location services, and fees charged by Hosting Vendors (collectively, the “Pass-Through
Fees”), as specified in Exhibit 9.1.3 (List of Pass-Through Fees). Pass-Through Fees consist of both (i) “Fixed
Costs”, which are fixed costs that Licensor will incur in connection with its provisions of the Platform pursuant to
this Agreement regardless of Licensee’s use of the Platform, and (ii) “Variable Costs”, which are variable
costs that Licensor will incur in connection with its provision of the Platform pursuant to this Agreement, with such variable
costs determined based on Licensee’s use of the Platform. Licensee agrees to pay all Fixed Costs in effect as of the Effective
Date. Licensor shall obtain Licensee’s prior written approval, and such approval shall not be unreasonably withheld or delayed,
for increases in Fixed Costs that exceed three percent (3%) in any calendar year during the Term. Licensee shall not have any prior
approval right with respect to Variable Costs; provided, however, Licensor shall obtain Licensee’s prior written approval,
and such approval shall not be unreasonably withheld or delayed, for monthly Variable Costs exceeding Five Thousand Dollars ($5,000.00)
(the “Initial Monthly Variable Costs Cap”) and further provided that Licensor shall be entitled to suspend
Licensee’s access to and use of the Platform until Licensee provides such approval. The Parties acknowledge that the amount
of the Initial Monthly Variable Costs Cap is based on an estimate of Variable Costs as of the Effective Date, and agree to discuss
in good faith during the Term to make reasonable adjustments to such amount. Notwithstanding anything to the contrary, all Pass-Through
Fees shall be billed to Licensee at Licensor’s cost and without markup.

 

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9.1.4. Licensee Direct
Payment of Pass-Through Fees. Notwithstanding Section 9.1.3 (Pass-Through Fees), Licensor, in its sole discretion and upon
reasonable notice, shall have the right to require Licensee to directly obtain any or all of the third party services or products
(including Third Party Materials) that are subject to such Pass-Through Fees from the applicable third parties, and Licensee shall
become the party directly responsible for paying any such third party fees to the applicable third parties.

 

9.1.5. Out-of-Scope
Services Fees. All fees for Out-of-Scope Services (collectively, the “Out-of-Scope Fees”) and related payment
terms shall be paid pursuant to the terms set out in the applicable Statement of Work.

 

9.2. Payment Terms.
The term “Fees” means, collectively: (i) the Maintenance Fees; (ii) Pass-Through Fees; and (iii) Out-of-Scope Fees.
Fees shall be invoiced by Licensor and due within thirty (30) days of the invoice date. Any Fees not received by Licensor on or
prior to the due date therefor shall bear interest from the due date at a rate equal to the lesser of: (i) one and one-half percent
(1.5%) per month; and (ii) the maximum amount permitted under applicable Law. All Fees shall be paid without offset for any amount
that may be required to be withheld under the regulations promulgated by any governmental taxing authority.

 

9.3. Use Release
Event Fees. Upon the occurrence of a Use Release Event, Licensee shall pay Licensor all Maintenance Fees that are due for the
first (1st) calendar year from the Effective Date through and including the sixth (6th) calendar year from
the Effective Date, subtracted by any Maintenance Fees that were paid by Licensee to Licensor prior to the Use Release Event (“Use
Release Event Fees”). Licensor shall invoice such amounts in one lump sum. The Parties agree that actual damages that
Licensor would suffer as a result of the occurrence of the Use Release Event would be difficult to determine and that these liquidated
damages are a reasonable and fair estimate of the damages which may be caused by such event, and are not a penalty. By way of clarification,
and not limitation, if a Use Release Event occurs during the first (1st) calendar year from the Effective Date, then
Licensee shall pay to Licensor: (i) Three Million and Seven Hundred Eighty Thousand Dollars ($3,780,000.00), and any other Maintenance
Fees due and owing, which would be due and owing for Maintenance and Support Services for the first, second, third, fourth, fifth,
and sixth calendar years from the Effective Date; minus (ii) amounts of Maintenance Fees paid by Licensee as of the Use Release
Event, if any.

 

9.4. Taxes.
Licensee shall be responsible for any and all taxes, assessments, or other charges of any kind that may be imposed on Licensor
by any governmental taxing authority (other than any taxes based upon the income of Licensor).

 

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10.
Audit. Licensor shall have the right, at its expense, to audit Licensee’s use of the Licensor Intellectual
Property, the Platform, and/or any services incidental thereto, upon not less than seven (7) days’ prior notice to Licensee.
Any such audit shall be during Licensee’s normal business hours and shall not be made more frequently than two (2) times
every twelve (12) months, provided that if any such audit reveals a breach of this Agreement, Licensor may conduct such audits
on a quarterly basis until such audits confirm that the relevant breach has been cured, and Licensee shall be responsible for the
costs of such audit(s).

 

11.
Quality Control.

 

11.1. Monitoring.
Licensor shall have the right to monitor Licensee’s usage of the Platform and Licensor Intellectual Property. Licensee shall
not use the Platform or any Licensor Intellectual Property in any manner that may or does damage, reduce the value of or in any
way harm the Platform or any Licensor Intellectual Property. Any such usage shall be a material breach of this Agreement by Licensee.

 

11.2. Value of the
Platform. Licensee shall only use the Platform and Licensor Intellectual Property in manner that preserves
or increases the inherent value of the same. 

 

11.3. Non-Conforming
Use. In the event that Licensor reasonably determines that any use by Licensee of the Platform or Licensor Intellectual
Property is in violation of this Section 11 (Quality Control), Licensee shall remedy such
non-conforming use within ten (10) days of receiving written notice from Licensor. If the use in the reasonable opinion of the
Licensor poses an immediate threat to the validity or enforceability of the Licensor Intellectual Property or
harm to Licensor’s business, reputation or goodwill, Licensor shall provide Licensee with written notice and Licensee shall,
immediately cease and desist all such non-conforming uses. 

 

11.4. Quality
Standard. Licensee shall only use the Licensor Intellectual Property under this
Agreement: (i) in good faith, in a dignified manner; (ii) in a manner that does not harm or jeopardize the value of the Licensor
Intellectual Property or the associated goodwill; and (iii) in connection with activities,
products, and services that maintain at all times the high levels of quality associated with Licensor’s products, services
and brands. 

 

12.
Representations and Warranties.

 

12.1. Licensor Representations
and Warranties. Licensor represents and warrants to Licensee during the Term that, as of the Effective Date: (i) Licensor has
the full right, power, and authority to enter into this Agreement, to undertake the transactions contemplated hereby and to grant
the licenses granted herein; and (ii) to Licensor’s actual knowledge, the Platform does not contain any viruses, Trojan horses,
worms or similar harmful code. The foregoing representations and warranties of Licensor shall expire twenty-four (24) months after
the Effective Date. Except as expressly set forth herein, the Platform, Escrow Material, and related Licensor Intellectual Property
are provided on an as-is, where is, with all faults and without any warranty of any kind, express or implied, including any warranty
of merchantability, interoperability, or fitness for any particular purpose, or non-infringement.

 

12.2. Licensee Representations
and Warranties. Licensee represents and warrants to Licensor that as of the Effective Date: (i) Licensee has the full right,
power, and authority to enter into this Agreement, to undertake the transactions contemplated hereby; (ii) the execution, delivery,
and performance by the Licensee of this Agreement does not and will not violate any provision of nor accelerate any right or obligation
under any contract or agreement to which Licensee is bound, nor will such execution, delivery, and performance violate any restriction
of any kind, whether contractual or at law, affecting the Licensee; (iii) the Licensee Improvements shall not violate the Intellectual
Property Rights of any third party; (iv) Licensee shall use the Platform, Escrow Materials, and related Intellectual Property in
full compliance with all Law; and (v) Licensee has secured all rights and interests in and to Licensee Data in order to provide
the same to Licensor as contemplated in this Agreement.

 

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13.
Disclaimer of Representations and Warranties.

 

13.1. Disclaimer.
EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES EXPRESSLY SET FORTH IN THIS AGREEMENT, THE LICENSOR INTELLECTUAL PROPERTY, THE PLATFORM,
MAINTENANCE SERVICES, ESCROW MATERIALS, AND ALL PORTIONS THEREOF, AND SUCH OTHER SERVICES AS ARE TO BE PROVIDED UNDER THIS AGREEMENT
(INCLUDING ANY STATEMENT OF WORK), ARE PROVIDED “AS IS.” TO THE MAXIMUM EXTENT PERMITTED BY LAW, LICENSOR AND ITS REPRESENTATIVES
DISCLAIM ANY AND ALL OTHER REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING, WITHOUT LIMITATION,
ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, SYSTEM INTEGRATION, DATA ACCURACY, TITLE, NON-INFRINGEMENT,
AND/OR QUIET ENJOYMENT. EXCEPT AS EXPRESSLY AND SPECIFICALLY PROVIDED IN ANY ATTACHED SCHEDULE(S), NEITHER LICENSOR NOR ITS REPRESENTATIVES
WARRANT THAT THE FUNCTIONS OR INFORMATION CONTAINED IN THE LICENSOR INTELLECTUAL PROPERTY, THE PLATFORM, MAINTENANCE SERVICES,
ESCROW MATERIALS, AND ALL PORTIONS THEREOF, AND SUCH OTHER SERVICES AS ARE TO BE PROVIDED UNDER THIS AGREEMENT (INCLUDING ANY STATEMENT
OF WORK) WILL MEET ANY REQUIREMENTS OR NEEDS LICENSEE MAY HAVE, OR THAT THE LICENSOR INTELLECTUAL PROPERTY, THE PLATFORM, MAINTENANCE
SERVICES, ESCROW MATERIALS, AND ALL PORTIONS THEREOF, AND SUCH OTHER SERVICES AS ARE TO BE PROVIDED UNDER THIS AGREEMENT (INCLUDING
ANY STATEMENT OF WORK) WILL OPERATE ERROR FREE OR WITHOUT INTERRUPTION, OR THAT ANY DEFECTS OR ERRORS IN SAME WILL BE CORRECTED,
OR ARE COMPATIBLE WITH ANY PARTICULAR NETWORK, COMPUTER SYSTEM OR SOFTWARE. LICENSOR AND ITS THIRD-PARTY LICENSORS MAKE NO GUARANTEE
OF ACCESS OR OF ACCURACY OF THE CONTENT CONTAINED IN OR ACCESSED THROUGH THE LICENSOR INTELLECTUAL PROPERTY, THE PLATFORM, MAINTENANCE
SERVICES, ESCROW MATERIALS, AND ALL PORTIONS THEREOF, AND SUCH OTHER SERVICES AS ARE TO BE PROVIDED UNDER THIS AGREEMENT (INCLUDING
ANY STATEMENT OF WORK). LICENSEE AND ITS REPRESENTATIVES SHALL NOT EXTEND WARRANTIES TO LICENSEE CUSTOMERS IN THE NAME OF LICENSOR
OR IN ANY WAY BIND LICENSOR OR ITS THIRD-PARTY LICENSORS WITH RESPECT TO WARRANTIES.

 

13.2. Prior Agreements.
EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES EXPRESSLY SET FORTH IN THIS AGREEMENT, EACH PARTY DISCLAIMS ALL LIABILITY AND RESPONSIBILITY
FOR ANY REPRESENTATION, WARRANTY, STATEMENT MADE, OR INFORMATION COMMUNICATED (WHETHER ORALLY OR IN WRITING) TO THE OTHER PARTY
AND/OR ANY OF THE OTHER PARTY’S REPRESENTATIVES. THE PARTIES DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES EXCEPT AS CONTAINED
IN THIS AGREEMENT, AND ANY AND ALL STATEMENTS MADE OR INFORMATION COMMUNICATED OUTSIDE OF THIS AGREEMENT (INCLUDING BY WAY OF THE
DOCUMENTS PROVIDED IN RESPONSE TO ANY DILIGENCE REQUEST), WHETHER VERBALLY OR IN WRITING, ARE DEEMED TO HAVE BEEN SUPERSEDED BY
THIS AGREEMENT, IT BEING INTENDED THAT NO SUCH PRIOR STATEMENTS OR COMMUNICATIONS OUTSIDE OF THIS AGREEMENT SHALL SURVIVE THE EXECUTION
AND DELIVERY OF THIS AGREEMENT, AND THAT NO WARRANTIES OTHER THAN THOSE EXPRESSLY SET FORTH HEREIN, WHETHER IMPLIED OR AT LAW,
SHALL BE APPLIED TO OR INCORPORATED INTO THIS AGREEMENT.

 

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14.
Indemnification.

 

14.1. Indemnification
by Licensor. Licensor shall defend, indemnify, and hold harmless the Licensee and the affiliates and Representatives of Licensee
(each, a “Licensee Indemnified Party” and, collectively, the “Licensee Indemnified Parties”)
from and against any and all Losses asserted against, incurred, sustained or suffered by a Licensee Indemnified Party as a result
of, arising out of, or relating to, a claim that the Platform as licensed and delivered to Licensee by Licensor infringes or misappropriates
the Intellectual Property of any third-party existing as of the Effective Date (each an “Infringement Claim”);
provided, however that Licensor shall have no obligation to Licensee under this Agreement with respect to any Infringement Claim
arising: (a) twenty four (24) months after the Effective Date; (b) to the extent arising from: (i) Any Licensee Improvements or
any modifications to the Platform or Escrow Materials made by, or on behalf of, Licensee or otherwise at Licensee’s request;
(ii) Licensee’s breach of this Agreement; (iii) Licensee’s or its Representative or sublicensees’ use of the
Platform or any Licensor Intellectual Property in any manner in violation of this Agreement or associated Documentation; and (iv)
the combination of the Platform and Licensor Intellectual Property with any Licensee or third-party software or other Intellectual
Property; or (c) after the occurrence of a Use Release Event. If the Platform or any Licensor Intellectual Property becomes the
subject of any Infringement Claim or injunction, Licensor may (at its sole option), do one of the following to mitigate the Losses
relating to the Infringement Claim: (1) procure for the Licensee (at Licensor’s expense) the right to continue using the
impacted portions of the Platform or Licensor Intellectual Property; (2) replace or modify the impacted portions of the Platform
or Licensor Intellectual Property so that it becomes non-infringing without substantially compromising functions, features, or
performance of the Platform or the Licensor Intellectual Property; or (3) if Licensor is unable at commercially reasonable effort
or expense to make such modifications, then Licensor shall be entitled to terminate this Agreement without further liability to
Licensee. This Section 14.1 (Indemnification by Licensor) is Licensee’s sole and exclusive remedy for any claim that the
Platform or any Licensor Intellectual Property infringes or misappropriates the Intellectual Property of any third party and Licensor
may not exercise any indemnity or similar monetary remedy under the Purchase Agreement.

 

14.2. Indemnification
by Licensee. Licensee shall defend, indemnify, and hold harmless the Licensor and any affiliates and Representatives of Licensor
(each, a “Licensor Indemnified Party” and, collectively, the “Licensor Indemnified Parties”)
from and against any and all Losses asserted against, incurred, sustained or suffered by a Licensor Indemnified Party as a result
of, arising out of, or relating to: (i) allegations that any Licensee Improvement infringes or misappropriates the Intellectual
Property of any third party; (ii) Licensee’s or its Representatives’ use of the Licensor Intellectual Property, the
Platform, and Escrow Materials in a manner not expressly permitted by the Documentation; (iii) Licensee’s combination of
the Platform, Licensor Intellectual Property, or Escrow Materials with any Licensee or third-party software or other Intellectual
Property; (iv) any breach, failure, misrepresentation, or omission of any representation, warranty, covenant, or condition contained
in this Agreement; (v) the willful, negligent or reckless misconduct or negligent acts and/or omissions of Licensee; (vi) Licensee’s
or its Representatives’ noncompliance with Laws, including Laws relating to data privacy and security; (vii) the acts and
omissions of any Licensee Representative; and (viii) Licensor’s possession and/or use of Licensee Data as contemplated herein.

 

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14.3. Procedures.
The indemnified Party shall promptly notify the indemnifying Party in writing of any claim, action, demand or lawsuit for which
the indemnified Party intends to claim indemnification hereunder (provided, however, that the failure to give such notice shall
not relieve the indemnifying Party from its obligations hereunder, except to the extent that the indemnifying Party is prejudiced
by such delay). The indemnifying Party has the right to take control of the defense of all actions that are indemnified against
hereunder; provided, however, the indemnifying Party shall not have the right to settle or compromise any claim involving the admission
of liability, injunctive relief, or which could set a precedent that may be reasonably considered to have a negative effect on
the indemnified Party’s business, without the written consent of the indemnified Party, which consent shall not be unreasonably
withheld or delayed. The indemnified Party shall cooperate with the indemnifying Party and its legal representatives in the investigation
and defense of any action covered by this indemnification.

 

15.
Term; Termination.

 

15.1. Term.
The term of this Agreement shall commence as of the Effective Date and shall continue in perpetuity unless terminated as provided
in this Section 15 (Term; Termination) (the “Term”).

 

15.2. Termination
for Cause. If Licensee breaches its obligations under this Agreement, Licensor shall advise Licensee of the breach in writing.
Licensee shall have sixty (60) days from receipt of written notice to cure the breach to Licensor’s reasonable satisfaction.
In the event that such breach is not cured to Licensor’s satisfaction within sixty (60) days of written notice thereof from
Licensor to Licensee, then Licensor may terminate this Agreement and the licenses granted hereunder, either in whole or in part,
in Licensor’s discretion by providing written notice to Licensee. If Licensee or its affiliate breaches any of its terms,
conditions, duties, requirements, or obligations under Article II of the Purchase Agreement or the Warrant (as such term is defined
in the Purchase Agreement), Licensor shall advise the Licensee of the breach in writing, and if Licensee fails to cure such breach
to Licensor’s satisfaction within thirty (30) days from receipt of the written notice, then Licensee shall pay to Licensor
Five Million Dollars ($5,000,000) as liquidated damages and any and all reasonable attorneys’ fees and other costs and expenses
incurred by Licensor as a result of such breach, as liquidated damages. The Parties agree that actual damages that Licensor would
suffer as a result of Licensee’s such breach would be difficult to determine and that these liquidated damages are a reasonable
and fair estimate of the damages which may be caused by such event, and are not a penalty. In the event that Licensee fails to
pay such amounts, then Licensor shall be entitled to enforce its rights under the Asset Pledge Agreement between Licensee and Licensor
attached hereto as Exhibit 15.2. For the avoidance of doubt, in the event that Licensor enforces the Pledge Agreement, then the
Five Million Dollars ($5,000,000) of liquidated damages called for under this Section shall no longer be payable and due by Licensee.
If Licensor breaches its obligations under this Agreement, Licensee shall advise Licensor of the breach in writing. Licensor shall
have sixty (60) days from receipt of written notice to cure the breach to Licensee’s satisfaction. In the event that such
breach is not cured to Licensee’s satisfaction within sixty (60) days of written notice thereof from Licensee to Licensor,
then Licensor shall pay to Licensee Five Million Dollars ($5,000,000) as liquidated damages. The Parties agree that actual damages
that Licensee would suffer as a result of Licensor’s such breach would be difficult to determine and that these liquidated
damages are a reasonable and fair estimate of the damages which may be caused by such event, and are not a penalty. In the event
that Licensor fails to pay such amounts, then Licensee shall be entitled to access the Escrow Materials in accordance with Section
4 (Platform Escrow) including subsections thereto. For the avoidance of doubt, in the event that Licensee accesses the Escrow Materials
pursuant to this Section, then the Five Million Dollars ($5,000,000) of liquidated damages called for under this Section shall
no longer be payable and due by Licensor. Notwithstanding the foregoing in this Section 15.2 (Termination for Cause), Licensor
and/or Licensee may initiate legal action against Licensee and or Licensor for monetary damages resulting from Licensee’s
and or licensor breach, and such monetary damages will be in addition to all other damages available to Licensor and or Licensee
respectively, including injunctive relief, whether provided hereunder, in the Purchase Agreement, in equity, or at law.

 

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15.3. Effect of
Termination. Upon termination of this Agreement, any and all Schedules hereto shall automatically and immediately terminate
and Licensee shall cease any and all use of or access to the Licensor Intellectual Property, the Platform, and all services and
licenses granted under this Agreement, and, if this Agreement terminates after the occurrence of a Use Release Event, the Escrow
Materials and any Licensee Improvements. In addition, upon termination of this Agreement, each Party will: (i) immediately cease
any and all uses of the other Party’s Confidential Information (including Licensee Data); (ii) promptly and permanently delete
any and all of the other Party’s Confidential Information from its computer storage or any other media, including, but not
limited to, online and off-line libraries; and (iii) promptly return to the other Party or, at the other Party’s option,
destroy, all copies of the other Party’s Confidential Information then in its possession and certify in writing to the other
Party both the deletion, and if applicable, the destruction of all such Confidential Information. Without limiting the foregoing,
upon termination of any schedule (including upon termination of this Agreement in its entirety), the provisions of such schedule
regarding the effect of such schedule’s termination (if any) shall also apply.

 

15.4. Survival.
Subject to Section 4.7 (Effect of Use Release Event), in addition to any other right or obligation that by its nature is intended
to survive any termination or expiration, the following Sections shall survive any termination or expiration of this Agreement:
(i) Section 3 (Ownership); (ii) Section 14 (Indemnification); (iii) Section 16 (Limitation on Liability); (iv) Section 17 (Confidential
Information); and (v) Section 20 (Miscellaneous).

 

16.
Limitation on Liability.

 

16.1. DISCLAIMER
OF LIABILITY. IN NO EVENT SHALL EITHER PARTY BE LIABLE FOR ANY CONSEQUENTIAL, INDIRECT, INCIDENTAL, PUNITIVE, OR SPECIAL DAMAGES
WHATSOEVER, INCLUDING WITHOUT LIMITATION, DAMAGES FOR LOSS OF BUSINESS PROFITS, BUSINESS INTERRUPTION, LOSS OF BUSINESS INFORMATION,
AND THE LIKE, ARISING OUT OF THIS AGREEMENT, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

 

16.2. DAMAGE CAP.
IN NO EVENT SHALL THE LIABILITY OF LICENSOR TO THE LICENSEE, IN THE AGGREGATE, IN LAW OR IN EQUITY, EXCEED ANY AMOUNTS RECOVERABLE
BY LICENSOR UNDER LICENSOR’S APPLICABLE INSURANCE POLICIES, IF ANY, IT BEING THE EXPRESS INTENTION OF THE PARTIES FOR SUCH
DAMAGES TO BE THE SOLE AND EXCLUSIVE MONETARY REMEDY FOR A BREACH OF THIS AGREEMENT. IN THE EVENT THAT NO AMOUNTS ARE RECOVERABLE
BY LICENSOR OR LICENSOR’S INSURANCE POLICIES DO NOT COVER THE LIABILITY AT ISSUE, THEN THE TOTAL LIABILITY OF LICENSOR TO
THE LICENSEE, IN THE AGGREGATE, IN LAW OR IN EQUITY, SHALL NOT EXCEED FIVE HUNDRED THOUSAND DOLLARS ($500,000).

 

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17.
Confidential Information. This section governs the protections for Confidential Information that one Party
(the “Disclosing Party”) provides to the other (the “Receiving Party”) under this Agreement.

 

17.1. Scope.
Subject to Section 17.2 (Exceptions), the term “Confidential Information” means information the Disclosing Party
provides to, or that the Receiving Party accesses from the Disclosing Party that meets one of the following two criteria: the information
either (i) is identified by a “CONFIDENTIAL” legend or similar legend of the Disclosing Party, or (ii) is obtained
under circumstances such that the Receiving Party knew or reasonably should have known that the information should be treated as
confidential to the Disclosing Party. Subject to Section 17.2 (Exceptions), “Confidential Information” includes inventions,
specifications, drawings, models, samples, reports, plans, financial information, work-in-progress, forecasts, computer programs
or documentation, and all other technical, financial, intellectual or business information or data. By way of example and not limitation,
Confidential Information of Licensor includes the Escrow Materials (including all associated Source Code) and the Platform.

 

17.2. Exceptions.
The Parties’ obligations of confidentiality and non-use shall not apply where the Receiving Party shows that the information
(that would otherwise qualify as Confidential Information): (i) is or after the Effective Date becomes publicly available or part
of the public domain through no wrongful act, fault, or negligence on the part of the Receiving Party; (ii) was in the possession
of the Receiving Party at the time of the Receiving Party’s receipt of the Confidential Information, and was not otherwise
subject to an existing agreement of confidentiality; (iii) is received from a third party without restriction and without breach
of any obligation of confidentiality to the Disclosing Party; or (iv) was independently developed by the Receiving Party without
reliance on the Disclosing Party’s Confidential Information.

 

17.3. Confidentiality.
The Receiving Party shall not access, use, or disclose any of the Disclosing Party’s Confidential Information except as expressly
permitted under this Agreement. The Receiving Party shall protect the Disclosing Party’s Confidential Information with the
same level of care it uses for its own Confidential Information of like nature; provided, however, that the Receiving Party shall
at a minimum use reasonable care to protect the Disclosing Party’s Confidential Information. A Receiving Party shall be entitled
to disclose the Disclosing Party’s Confidential Information to its employees and the employees of its affiliates (collectively,
“Authorized Individuals”); provided that each such Authorized Individual (i) has a need to know the Confidential
Information for the purposes of this Agreement, and (ii) has been apprised of and agrees to the confidentiality and use obligations
set out in this Agreement. Each Party shall be responsible for any breach of confidentiality by its employees and (where applicable)
its service providers.

 

17.4. Compelled
Disclosure. Nothing herein shall prevent a Receiving Party from disclosing any Confidential Information as necessary pursuant
to any court order, lawful requirement of a governmental agency, or when disclosure is required by operation of law (including
disclosures pursuant to any applicable securities laws and regulations); provided, however, that prior to any such disclosure,
the Receiving Party shall use reasonable efforts to (a) promptly notify the Disclosing Party in writing of such requirement to
disclose and (b) reasonably cooperate with the Disclosing Party, at the Disclosing Party’s expense, in protecting against
or minimizing such disclosure.

 

18.
Network Load Levels. To the extent that Licensor is providing Hosting Services to Licensee, Licensor shall
use good faith efforts to ensure that the Auris Platform or the Knetik Platform each supports a load level up to 200 transactions
per section, which is equivalent to 525,600,000 transactions per month. If during the Term, Licensee should reach the load capacity
level of the Knetik Platform or of the Auris Platform, then Licensor and Licensee shall discuss in good faith to implement a Statement
of Work pursuant to Section 5.1 (Statement of Work) to expand the capacity of the applicable Platform, and such expansion shall
constitute an Out-of-Scope Service.

 

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19.
Insurance.

 

19.1. Required Insurance.
Each Party will keep in full force and effect at all times during the Term: (i) comprehensive general liability insurance
in an amount not less than One Million Dollars ($1,000,000.00) per occurrence and not less than Two Million Dollars ($2,000,000.00)
in the aggregate for bodily injury and property damage; (ii) employer’s liability insurance in an amount not less than One
Million Dollars ($1,000,000.00) per occurrence; (iii) workers’ compensation insurance in an amount not less than that required
by applicable law; (iv) extended risk insurance covering all of customer’s equipment and other personal property (including
data and media) to cover the replacement cost of same, including but not limited to, EDP (electronic data processing property)
perils written on a “Special Form” basis at full replacement cost value; (v) coverage for the contractual liability
to indemnify the other Party; (vi) errors and omissions insurance in an amount not less than Five Million Dollars ($5,000,000.00);
and (vii) cybersecurity insurance in an amount not less than Five Million Dollars ($5,000,000.00). The Parties shall place the
policies required herein with reputable insurers having an AM Best rating of A- or better. Each Party also expressly agrees that
it will be solely responsible for ensuring that its agents (including contractors and subcontractors) maintain additional insurance
at levels no less than those required by applicable law and customary in such Party’s industry. Prior to the Effective Date,
each Party will furnish the other Party with certificates of insurance which evidence the minimum levels of insurance set forth
above, name the other Party as additional insured, require notification of the other Party in writing of the effective date of
such coverage and provide that all insurance policies provide the other Party with thirty (30) days advanced written notice of
cancellation or termination.

 

19.2. Insurance
Claims. Licensee and its Representatives shall not pursue any claims against Licensor for any liability Licensor may have under
or relating to this Agreement unless and until Licensee or its employee(s), as applicable, first makes claims against Licensee’s
insurance provider(s) and such insurance provider(s) finally resolve(s) such claims. Any inability by Licensee to furnish the proof
of insurance required under this Section or failure to obtain such insurance shall be a material breach of this Agreement. Licensee
and all parties claiming under, by and through Licensee, hereby waive any and all rights to recover against Licensor or against
its affiliates, subsidiaries, or its or their respective officers, directors, shareholders, partners, members, employees, agents,
customers or invitees for any loss or damage to such waiving Party from any cause covered by any insurance required to be carried
by any such Party hereunder to the extent insured. Licensor, its agents and employees make no representation that the limits of
liability specified to be carried by Licensee pursuant to this Section are adequate to protect Licensee.

 

20.
Miscellaneous.

 

20.1. Amendment
and Modification. This Agreement may not be amended, modified or supplemented in any manner, whether by course of conduct or
otherwise, except by an instrument in writing specifically designated as an amendment hereto, and signed on behalf of each Party.

 

20.2. Notices.
All notices, requests, claims, demands, and other communications under this Agreement, unless provided to the contrary herein,
shall be sent to:

 

	If to Licensor:	If to Licensee:
	
        CIMA Telecom, Inc.

        1728 SW 22nd Street

        Suite 600

        Miami, FL 33145

        legal@cimagroup.com
	
        Cuentas, Inc.

        Michael De Prado – President & COO

        200 S. Biscayne Blvd., SUITE 5500

        MIAMI, FL 33131

        Michael@cuentas.com

 

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20.3. Waiver.
The failure or delay of either Party in exercising any right or remedy hereunder shall not operate as a waiver thereof, nor shall
any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such right
or power, or any course of conduct, preclude any other or further exercise thereof or the exercise of any other right or power.
The rights and remedies of the Parties are cumulative and are not exclusive of any rights or remedies which they would otherwise
have hereunder. Any agreement on the part of either Party to any such waiver shall be valid only if set forth in a written instrument
executed and delivered by a duly authorized officer on behalf of such Party.

 

20.4. Interpretation.
When a reference is made in this Agreement to a Section, such reference shall be to a Section of this Agreement unless otherwise
indicated. Any headings contained in this Agreement are for convenience of reference purposes only and shall not affect in any
way the meaning or interpretation of this Agreement. All words used in this Agreement will be construed to be of such gender or
number as the circumstances require. The word “including” and words of similar import when used in this Agreement will
mean “including, without limitation,” unless otherwise specified.

 

20.5. Entire Agreement.
This Agreement constitutes the entire agreement, and supersedes all prior written agreements, arrangements, communications and
understandings and all prior and contemporaneous oral agreements, arrangements, communications and understandings between the Parties
with respect to the subject matter hereof.

 

20.6. Responsibility
for Representatives. Licensee agrees that it is solely responsible and liable for the actions of its Representatives, including
any breach of Licensee’s obligations under this Agreement that are attributable to Licensee. By way of example, and not limitation,
if Licensee engages a Representative to develop a Licensee Improvement using Escrow Materials and the Representative discloses
Source Code for the Platform in violation of the confidentiality obligations set out in this Agreement, then Licensee shall be
liable to Licensor for such breach as if the Licensee were the party that breached the applicable confidentiality obligation.

 

20.7. No Third-Party
Beneficiaries. Nothing in this Agreement, express or implied, is intended to or shall confer upon any person other than the
Parties, their affiliates and their respective successors and permitted assigns any legal or equitable right, benefit or remedy
of any nature under or by reason of this Agreement.

 

20.8. Governing
Law. This Agreement and all disputes or controversies arising out of or relating to this Agreement or the transactions contemplated
hereby shall be governed by, and construed in accordance with, the laws of the State of Florida, without regard to the laws of
any other jurisdiction that might be applied because of the conflicts of laws principles of the State of Florida.

 

20.9. Publicity.
Licensee agrees that (i) it shall not use Licensor’s names, logos, tag lines, or any other identifying information in any
manner, including, but not limited to, in advertisements, publications, press releases, articles, websites, or social media, without
Licensor’s prior written approval (the “Publicity Prohibition”), and (ii) the Publicity Prohibition applies
to Licensor, and all of their related or affiliated entities. Licensee shall not, without Licensor’s prior written consent
(which may be withheld or withdrawn for any reason) use any applicable names, logos, tag lines, or any other identifying information
in violation of the Publicity Prohibition.

 

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20.10. Submission
to Jurisdiction. Each of the Parties irrevocably agrees that any action arising out of or relating to this Agreement brought
by the other Party or its successors or assigns shall be brought and determined exclusively in the state or federal courts located
in Miami-Dade County, Florida (or, if such court lacks subject matter jurisdiction, in any appropriate state or federal court within
the State of Florida), and each of the Parties hereby irrevocably submits to the exclusive jurisdiction of the aforesaid courts
for itself and with respect to its property, generally and unconditionally, with regard to any such action arising out of or relating
to this Agreement and the transactions contemplated hereby. Each of the Parties agrees not to commence any action relating thereto
except in the aforementioned courts (or, if such court lacks subject matter jurisdiction, in any appropriate state or federal court
within the State of Florida), other than actions in any court of competent jurisdiction to enforce any judgment, decree or award
rendered by any such court in Florida as described herein. Each of the Parties hereby irrevocably and unconditionally waives, and
agrees not to assert, by way of motion or as a defense, counterclaim or otherwise, in any action arising out of or relating to
this Agreement or the transactions contemplated hereby, any action (a) that it is not personally subject to the jurisdiction of
the courts in Florida as described herein for any reason, (b) that it or its property is exempt or immune from jurisdiction of
any such court or from any legal process commenced in such courts (whether through service of notice, attachment prior to judgment,
attachment in aid of execution of judgment, execution of judgment or otherwise), and (c) that (i) the action in any such court
is brought in an inconvenient forum, (ii) the venue of such action is improper, or (iii) this Agreement, or the subject matter
hereof, may not be enforced in or by such courts.

 

20.11. Assignment;
Successors. Neither this Agreement nor any of the rights, interests or obligations under this Agreement may be assigned or
delegated, in whole or in part, by operation of law or otherwise, by Licensee without the prior written consent of the Licensor,
and any such assignment without such prior written consent shall be null and void. Licensee acknowledges that Licensor may assign
this Agreement (or any of its rights or obligations hereunder) or any of its Intellectual Property Rights to a third-party upon
notice to Licensee. Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of, and be enforceable
by, the Parties and their respective successors and assigns.

 

20.12. Severability.
Whenever possible, each provision or portion of any provision of this Agreement shall be interpreted in such manner as to be effective
and valid under applicable Law, but if any provision or portion of any provision of this Agreement is held to be invalid, illegal
or unenforceable in any respect under any applicable Law or rule in any jurisdiction, such invalidity, illegality or unenforceability
shall not affect any other provision or portion of any provision in such jurisdiction, and this Agreement shall be reformed, construed
and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision or portion of any provision had never
been contained herein.

 

20.13. Enforcement.
The Parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed
in accordance with their specific terms or were otherwise breached. Each of the Parties shall be entitled to specific performance
of the terms hereof, including an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the
terms and provisions of this Agreement in the state and or federal courts located in Miami-Dade County, Florida (or, if such court
lacks subject matter jurisdiction, in any appropriate state or federal court within the State of Florida), this being in addition
to any other remedy to which such Party is entitled at law or in equity. Each of the Parties hereby further waives (a) any defense
in any action for specific performance that a remedy at law would be adequate and (b) any requirement under any law to post security
as a prerequisite to obtaining equitable relief.

 

20.14. Waiver of
Jury Trial. EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

    18

     

    

 

20.15. Counterparts;
Electronic Signatures. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original
but all of which together shall constitute one and the same instrument and shall become effective when one or more counterparts
have been signed by each of the Parties and delivered to the other Party. A facsimile, PDF or other electronic signature of this
Agreement shall be valid and have the same force and effect as a manually signed original.

 

20.16. No Presumption
Against Drafting Party. Each of the Licensor and the Licensee acknowledges that each Party to this Agreement has been represented
by legal counsel in connection with this Agreement and the transactions contemplated by this Agreement. Accordingly, any rule of
law or any legal decision that would require interpretation of any claimed ambiguities in this Agreement against the drafting Party
has no application and is expressly waived.

 

20.17. Force Majeure.
Neither Party shall be liable hereunder by reason of any failure or delay in the performance of its obligations on account of strikes,
shortages, riots, insurrection, fires, flood, storm, explosions, acts of God, terrorism, war, governmental action, earthquakes,
or any other cause that is beyond the reasonable control of such Party.

 

20.18. Exclusive
Remedies. Except as expressly stated herein, no remedy conferred by any of the provisions of this Agreement is intended to
be exclusive of any other remedy, and each remedy is cumulative and in addition to every other remedy available to a Party hereunder
or otherwise existing at law, in equity, by statute, or otherwise. The election of any one or more remedies by either Party shall
not constitute a waiver of the right to pursue any other available remedies.

 

20.19. Independent
Contractors. The Parties are independent contractors, and no agency, partnership, joint venture, or employer-employee relationship
is intended or created by this Agreement. Neither Party shall have the power to obligate or bind the other Party. Personnel supplied
by Licensor shall work exclusively for Licensor and shall not, for any purpose, be considered Licensee employees or agents.

 

    19

     

    

 

IN WITNESS WHEREOF,
the Parties hereto have executed Platform License Agreement as of the Effective Date.

 

	 	LICENSOR:	 	LICENSEE:
	 	 	 	 
	 	KNETIK, INC.	 	CUENTAS, INC.
	 	 	 	 
	 	By:	 /s/ Juan M. Gomez	 	By:	 /s/ Arik Maimon
	 	Name: 	 Juan M. Gomez	 	Name: 	Arik Maimon
	 	Title:	Chief Executive Officer	 	Title:	 Chief Executive Officer
	 	 	 	 
	 	AURIS, LLC	 	 
	 	 	 	 
	 	By:	 /s/ Juan M. Gomez	 	 
	 	Name:	 Juan M. Gomez	 	 
	 	Title:	 Chief Executive Officer	 	 
	 	 	 	 
	 	CIMA TELECOM, INC.	 	 
	 	 	 	 
	 	By:	/s/ Juan M. Gomez	 	 
	 	Name:	 Juan M. Gomez	 	 
	 	Title:	Chief Executive Officer	 	 

 

    20

     

    

 

SCHEDULE A

 

Maintenance and Support 

 

Subject to the terms and conditions of
the Agreement, this Schedule A (Maintenance and Support) (the “Schedule”) to the Platform License Agreement
(the “Agreement”) sets out the terms and conditions under which Licensor will provide certain maintenance and
support services for the Platform (as further described in this Schedule, the “Maintenance and Support Services”).
All capitalized terms used but not otherwise defined in this Schedule shall have the meanings ascribed to them in the Agreement.

 

1.
Fees; Expenses. Licensor shall provide the Licensee with the Maintenance and Support Services for the
Platform as consideration for the Maintenance Fees set forth in Section 9.1.2 (Maintenance Fees) of the Agreement. The Maintenance
Fees shall be due on their respective due dates, without need for invoice from Licensor. To the extent that Licensor is required
to travel to Licensee’s premises, or otherwise incurs any costs from third-parties, which are reasonably necessary for Licensor
to perform the Maintenance and Support Services, then, Licensor shall invoice such expenses to Licensee, and within thirty (30)
days of receipt of such invoice, Licensee shall reimburse Licensor for such expenses.

 

2.
Maintenance and Support Services. 

 

2.1. Scope of Services.
Licensor shall provide operational support to manage and support daily operations which include triage of issues, and defect process
management. During any period for which Licensee has paid the required Maintenance Fees, Licensor shall provide Licensee with the
following maintenance and support services, subject to the limitations and procedures set forth in this Schedule A (Maintenance
and Support):

 

2.1.1. Monitor the Platform
for errors and the instruction to correct errors;

 

2.1.2. Provide upgrades,
patches and service packs for the Platform, as needed for the Platform to be compatible with updates to the peripherals or the
operating system;

 

2.1.3. Log, track, and,
correct Defects (as defined below) in the Platform, pursuant to Section 5 (Defect Correction) of this Schedule; and

 

2.1.4. Update Documentation
for any material upgrades, modifications, improvements, enhancements, extensions, and other changes to the Platform.

 

2.2. Support Hours.
Licensor shall provide the Maintenance and Support Services on a 24/7/365 basis. Without limiting the foregoing, the monitoring
and correction aspects of the Maintenance and Support Services include: production system issue triage; prioritization, management
and reporting the disposition of all Defects and issues; analysis of Defects and related issues, and correction of object and Source
Code to resolve the Defect; preparation of documentation for Licensor’s technical staff demonstrating the Defect and resolution
of the Defect; unit testing of Defects and corrections to the Defects; version control over all corrections to code; packaging
and delivery of the corrected object code and related documentation to Licensor; maintenance of the current version of Source Code
on behalf of Licensor, and depositing same with escrow agent; ensuring integrity of database and system performance through database
administration services; and provision of ad hoc reports and interface support as directed. Notwithstanding anything to the contrary,
Licensee agrees that Licensor shall only provide Maintenance and Support Services requiring changes to Source Code during Licensor’s
regular business hours.

 

    21

     

    

 

2.3. Support Contact.
All requests for Maintenance and Support Services will be initiated when the Authorized Representative (defined below) of Licensee
contacts Licensor’s Authorized Representative and provides the Licensee’s name and telephone number of technical contact,
contract number, product and/or serial number, and brief description of the problem.

 

3.
Hosting Services.

 

3.1. Provision of
Hosting Services. The Platform is provided to Licensee as a hosted solution. Accordingly, Licensor shall host the Platform
via its Hosting Vendor, and such services shall include those services that Licensor generally makes available to its other customers
(collectively, the “Hosting Services”). The Hosting Services shall include Licensee’s access to and use
of the Platform as permitted pursuant to the Documentation via the internet.

 

3.2. Management
of Hosting Vendor. The Parties agree that Licensor, in connection with its provision of Hosting Services, shall be relying
on third parties to provide the hosting solution (the “Hosting Vendor”). Accordingly, Licensee agrees that (i)
Licensor’s provision of the Hosting Services is dependent on the performance of the Hosting Vendor, and (ii) Licensor’s
failure to fulfill any of its obligations under this Agreement shall constitute a force majeure event to the extent that such failure
is attributable to the Hosting Vendor.

 

3.3. Hosting Service
Servers. Licensor shall provide the Hosting Services using the same server and service configuration that Licensor has in place
prior to the Effective Date. Any Licensee-requested changes to the server configuration or other aspects of the Hosting Services
shall be treated as Out-of-Scope Services and handled pursuant to Agreement Section 5 (Improvements; Out-of-Scope Services). By
way of clarification, and not limitation, if Licensee desires to have the Knetik Platform hosted on a single-tenant server, then
Licensee shall present a written request to Licensor regarding the same, and the Parties shall proceed as set out in Agreement
Section 5 (Improvements; Out-of-Scope Services).

 

4.
General Assumptions. Licensor’s ability to provide the Maintenance and Support Services is conditioned
upon the following requirements and specifications:

 

4.1. Processes Information.
Licensee shall provide the Licensor’s project team with knowledge of current installation and business processes (or access
to them).

 

4.2. Licensee Failure.
Licensee acknowledges and agrees that its failure to satisfy or provide any of the preceding requirements and specifications is
likely to hinder Licensor’s ability to perform the Maintenance and Support Services, and that if such specifications and
requirements are not met by Licensee, then the failure of Licensor to perform the Maintenance and Support Services, whether in
whole or partially, shall be excused and Licensor shall have no liability for such performance failure.

 

4.3. Use Release
Event. As further set forth in Section 4.7 (Effect of Use Release Event), Licensor’s obligations to provide, and Licensee’s
rights to receive, the Maintenance and Support Services shall immediately terminate upon the occurrence of a Use Release Event.

 

5.
Defect Correction.

 

5.1. Defect Correction
Support. When Licensee reports a suspected Defect in the Platform to Licensor, Licensor shall attempt, based upon information
provided by Licensee, to recreate the suspected Defect. If the Defect is confirmed, Licensor shall use commercially reasonable
efforts to provide Licensee a Correction during Licensor’s normal business hours. For the purpose herein, a “Defect”
is a material failure of the Platform to operate substantially in accordance with the applicable Documentation, and a “Correction”
includes, without limitation, workarounds, support releases, update disks, correction disks, component replacements, patches and/or
Documentation changes, as Licensor deems appropriate.

 

    22

     

    

 

5.2. Implementation
of Corrections. Licensee agrees to implement within a reasonable time all Corrections provided by Licensor hereunder.

 

6.
Service Level Agreement. Licensor shall, using commercially reasonable efforts and commercially reasonable
response and resolution times, ensure that the Platform has an uptime of 99.9% measured on a monthly basis (the “Availability
Commitment”), subject to reasonable downtime for maintenance, error corrections, and matters beyond Licensor’s
control (each, an “Exception”). The total number of minutes that the Platform’s availability does not
meet the Availability Commitment in a given month that is not due to an Exception, shall be referred to as “Downtime”.
If Licensor fails to meet the Availability Commitment in a particular month, then Licensee shall be entitled to a service credit
(each, a “Service Credit”), and such Service Credit be calculated as a percentage of one-twelfth (1/12) of the
Maintenance Fees for the calendar year in which the Service Credit is due as follows:

 

	
        Availability in a given calendar
month
	Percentage Credit
	> 97.9% but < 99.9%	No Credit
	> 96.9% but < 97.9%	3%
	< 96.9%	6%

 

By way of clarification,
and not limitation, if the Platform availability in a month during the first calendar year of the Effective Date is 97.5%, then
the available Service Credit shall be $1,250 (i.e., (500,000/12)(.03)).

 

7.
Service Credits as Exclusive Remedy. Licensee agrees that the remedies provided for under Schedule A Section
6 (Service Level Agreement) are the sole and exclusive remedy available to Licensee for any failure in the availability of the
Platform, service interruptions, service response issues, and/or service deficiencies of any kind and, Licensee agrees that Licensee
shall not have any other claims, rights, or remedies, and Licensor shall have no other liabilities or obligations to Licensee,
with respect to the availability of the Platform, service interruptions, service response issues, and/or service deficiencies of
any kind.

 

8.
Termination of Support/Renewal. Licensor may suspend providing support upon thirty (30) days’ written
notice to Licensee, if Licensee fails to pay the (a) Maintenance Fees, or (b) any other amount owed under this Agreement within
thirty (30) days of the receipt of Licensor’s invoice and if such failure is not corrected within the said thirty (30) day
period.

 

9.
Authorized Representatives. The following employee representatives of Licensee are hereby authorized to
contact the following employee representatives for Licensor (each of the below listed persons, an “Authorized Representative”
for the respective Party) for support for the term of this Schedule, or unless otherwise modified in writing by an authorized representative
of the respective Party.

 

	Licensor Authorized Representative:	Licensee Authorized Representative:
	 	 
	Contact 1: 	Contact 1: Arik Maimon, CEO

 ____________________________
	 	 
	Contact 2: ____________________________	Contact 2: Michael De Prado, President

 ____________________________

 

    23

     

    

 

EXHIBIT 5.2 (LIST OF THIRD PARTY
MATERIALS)

 

		1.	Mongo

 

		2.	New Relic

 

		3.	Twilo

 

		4.	Mandril (email)

 

		5.	Taxjar

 

		6.	QR Code Service

 

		7.	Amazon Web Services (lambda, ElasticSearch, Support, Cloudwatch,
Knesis, ElastiCache, RDs, Hosting/Transactional and AWS Hosting (Ec2))

 

    24

     

    

 

EXHIBIT 9.1.3 (LIST OF PASS-THROUGH
FEES)

 

		1.	Fixed Costs. The estimated monthly fixed costs are
as follows:

 

		·	Basic production environment – approximately
$4,000,

 

		·	Test environment – approximately $2,000; and

 

		·	Development and Project Management – approximately
$15,000.

 

		2.	Variable Costs.

 

    25

     

    

 

EXHIBIT 15.2 (PLEDGE AGREEMENT)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    26

     

    

 

EXHIBIT 1.2 (AURIS PLATFORM DESCRIPTION)

 

Auris Retail Platform

 

		1.	PRODUCT MANAGEMENT

 

		a.	Manage

		i.	 	Rate Deck Management
		ii.	 	Pin Management
		iii.	 	Pinless ANI Recognition
		iv.	 	IVR and Call Flows
		v.	 	Access Number Mgmt.

 

		2.	ENHANCED BILLING

 

		a.	Create and manage flexible service plans
		b.	Bundle Packages
		c.	Unlimited Packages
		d.	DID Packages
		e.	Define billing cycles, coupons, schedules
		f.	Support for pre/post paid models

 

		3.	FRAUD CONTROL

 

		a.	Comprehensive Fraud Prevention Mechanisms
		b.	Fraud Alarms
		c.	Define Fraud Thresholds

 

		4.	REPORTS

 

		a.	Traffic and Quality
		b.	Compliance
		c.	Activation by Product/Date
		d.	Profitability Report
		e.	Recharge History
		f.	Balance Check
		g.	Product Stats
		h.	Customizable

 

		5.	CUSTOMER SERVICE

 

		a.	Agent and reseller can manage:

		b.	Customer’s Profile

		c.	Transactions

		d.	Call History

		e.	Reports

		f.	User Account

 

		6.	SALES ENABLEMENT

 

		a.	E commerce Sites

		b.	Retail Portal

		c.	Customer Management

		d.	Agent Management

		e.	Fraud Management

		f.	Internal User Management

		g.	Content Management

		h.	Reports

		i.	Distributor Management

 

		7.	API

 

		a.	Extensive API library for integration into external
interface

 

    27

     

    

 

EXHIBIT 1.8 (KNETIK PLATFORM DESCRIPTION)

 

Knetik Retail Platform

 

		1.	Access management

 

		a.	User Management

		i.	 	Rich Metadata CRM

		ii.	 	Single-Sign-On (SSO)

		iii.	 	Grouping

		iv.	 	Tracking User Behavior

 

		b.	Transmedia Entitlement

		i.	 	Video

		ii.	 	Gaming

		iii.	 	Print

		iv.	 	Audio

 

		c.	Digital Services

		i.	 	Ecosystem Entitlement

		ii.	 	Branded Services

		iii.	 	Online experiences

 

		2.	Rules Engine

 

		a.	Gamification

		i.	 	Badging

		ii.	 	Questing

		iii.	 	Leveling

		iv.	 	Points Consumption

		v.	 	Leaderboards

 

		b.	User Engagement

		i.	 	Loyalty

		ii.	 	Rewards

		iii.	 	Testing

 

		c.	Personalization

		i.	 	Behavior Management

		ii.	 	Messaging

		iii.	 	Tracking

 

		3.	Platform

 

		a.	Products

		i.	 	Physical Goods

		ii.	 	Virtual Goods

		iii.	 	Digital Assets

		iv.	 	Behavior Assignment

 

		b.	Currency

		i.	 	Real-time Currency value/exchanges

		ii.	 	Virtual Currency Support with exchange rates

		iii.	 	Non-Traditional Asset support

		iv.	 	Wallet Management

		v.	 	Credit Card/Cash/POS/Other integrations

 

		c.	Business intelligence

		i.	 	Reporting

		ii.	 	Business Intelligence

		iii.	 	Daily, Monthly User & Device Reporting

		iv.	 	Retention Rates

 

 

28Exhibit 10.7

 

EXECUTION
VERSION

 

VOTING
AGREEMENT and Proxy

 

This
Voting Agreement and Proxy (this “Agreement”) is entered into as of December 31, 2019, by and among Cuentas
Inc., a Florida corporation (the “Company”), Arik
Maimon (“Maimon”), Michael De Prado
(“De Prado”), Dinar Zuz LLC, a Florida limited
liability company (“Dinar”), and CIMA Telecom Inc.,
a Florida corporation doing business as “CIMA Group” (“CIMA”). Each of Maimon, De Prado,
Dinar, and CIMA are referred to in this Agreement as a “Shareholder.”

 

RECITALS

 

A. Maimon
owns 368,808 shares (the “Maimon Common Stock”) of Common Stock, par value $0.001 per share, of the Company
(“Common Stock”), and 5,107,500 shares (the “Maimon Preferred Stock”) of Series
B Preferred Stock, par value $0.001 per share, of the Company (“Series B Preferred Stock”). The Maimon
Common Stock, Maimon Preferred Stock, and all other shares of Common Stock, Series B Preferred Stock, and any other class or series
of capital stock of the Company hereafter authorized and issued, whether now owned or subsequently directly or indirectly acquired
by Maimon, and however acquired, whether through stock splits, stock dividends, reclassifications, recapitalizations, similar events,
or otherwise, are collectively referred to in this Agreement as the “Maimon Stock.”

 

B. De
Prado owns 256,957 shares of Common Stock (the “De Prado Common Stock”) and 822,700 shares of Series
B Preferred Stock (the “De Prado Preferred Stock”). The De Prado Common Stock, De Prado Preferred Stock,
and all other shares of Common Stock, Series B Preferred Stock, and any other class or series of capital stock of the Company hereafter
authorized and issued, whether now owned or subsequently directly or indirectly acquired by De Prado, and however acquired, whether
through stock splits, stock dividends, reclassifications, recapitalizations, similar events, or otherwise, are collectively referred
to in this Agreement as the “De Prado Stock.”

 

C. Dinar
owns (i) 500,000 shares of Common Stock (the “Dinar Common Stock”), (ii) zero shares of Series B Preferred
Stock (the “Dinar Preferred Stock”), and (iii) a Warrant (the “Dinar Warrant”)
to purchase shares of Common Stock of the Company, subject to the terms and conditions of the Dinar Warrant. The Dinar Common Stock,
Dinar Preferred Stock, and all other shares of Common Stock, Series B Preferred Stock, and any other class or series of capital
stock of the Company hereafter authorized and issued, whether now owned or subsequently directly or indirectly acquired by Dinar
(including, but not limited to, any shares of Common Stock acquired upon exercising the Dinar Warrant), and however acquired, whether
through stock splits, stock dividends, reclassifications, recapitalizations, similar events, or otherwise, are collectively referred
to in this Agreement as the “Dinar Stock.”

 

D. CIMA
and the Company have entered into that certain Note Purchase Agreement, dated December 30, 2019 (the “Purchase Agreement”),
pursuant to which CIMA has agreed to purchase from the Company, and the Company has agreed to issue and sell to CIMA, (i) a Debenture
in the principal amount of $9,000,000 that is convertible into Common Stock of the Company (the “Debenture”);
and (ii) a Warrant (the “CIMA Warrant”) to purchase shares of Common Stock of the Company, subject to
the terms and conditions of the CIMA Warrant. The shares of Common Stock issuable to CIMA upon conversion of the Debenture and
exercise of the CIMA Warrant are collectively referred to in this Agreement as the “CIMA Stock” and,
collectively with the Maimon Stock, De Prado Stock, and Dinar Stock, the “Voting Stock.”

 

     

     

    

 

E. Contemporaneous
with the Company’s issuance of the Debenture and the CIMA Warrant to CIMA, the Company, CIMA, Knetik, Inc., a Delaware corporation
(“Knetik”), and Auris, LLC, a Florida limited liability company (“Auris”),
shall enter into a Platform License Agreement (the “License Agreement”) pursuant to which Knetik and
Auris shall license certain Licensed Technology (as defined in the License Agreement) to the Company.

 

F. To
induce CIMA to enter into the Purchase Agreement, purchase the Debenture and the CIMA Warrant, and enter into the License Agreement
and other Transaction Documents (as described in the Purchase Agreement), and to induce Dinar to purchase the Dinar Warrant, the
parties desire to enter into this Agreement to: (i) set forth the terms and conditions of proxies intended to be granted by Maimon
and De Prado to each of CIMA and Dinar pursuant to the terms and conditions of this Agreement; (ii) determine the election of certain
members of the Board of Directors of the Company (the “Board”) in accordance with the terms of this Agreement;
and (iii) confirm how the parties shall vote on other particular matters described in this Agreement during the term of this Agreement,
including, but not limited to, the reclassification of Series B Preferred Stock as Common Stock pursuant to Amended and Restated
Articles of Incorporation of the Company proposed to be filed soon after the closing of the transactions contemplated by the Purchase
Agreement.

 

G. On
or before the date of this Agreement, Adiv Baruch and Richard Berman resigned as directors of the Company, leaving at least two
vacant seats on the Board.

 

NOW,
THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

1.
Voting Provisions Regarding the Board of Directors.

 

1.1
Size of the Board.

 

(a) Subject
to Section 1.1(b) and Section 1.1(c), each Shareholder hereby agrees to vote, or cause to be voted, all Shares (as
defined below) owned by such Shareholder, or over which such Shareholder has voting control, from time to time and at all times,
in whatever manner as shall be necessary, to ensure that the size of the Board shall be set and remain at five (5) directors elected
pursuant to Section 1.2(a) and may be increased only with the written consent of the Shareholders who are signatories to
this Agreement, subject to the limitations of Section 6. For the purposes of this Agreement, the term “Shares”
shall mean and include any securities of the Company that the holders of which are entitled to vote for members of the Board, including,
but not limited to, Common Stock and Series B Preferred Stock, whether now owned or subsequently acquired by a Shareholder, and
however acquired, whether through stock splits, stock dividends, reclassifications, recapitalizations, similar events, or otherwise.

 

    2

     

    

 

(b) If
the Company’s shares of Common Stock become listed on the NASDAQ Capital Market (or if there is any other similar transaction
which ultimately involves the listing of the Company’s capital stock, whether Common Stock or any other class or series of
capital stock of the Company, on any exchange affiliated with or similar to NASDAQ) (such event, the “NASDAQ Uplisting”),
each Shareholder hereby agrees to vote, or cause to be voted, all Shares owned by such Shareholder, or over which such Shareholder
has voting control, from time to time and at all times, in whatever manner as shall be necessary, to ensure that the size of the
Board shall be set and remain at eleven (11) directors elected pursuant to Section 1.2(b) and may be increased only with
the written consent of the Shareholders who are signatories to this Agreement, subject to the limitations of Section 6.

 

(c) If
there is a Budget Violation (as defined below) before the NASDAQ Uplisting, then each Shareholder hereby agrees to vote, or cause
to be voted, all Shares owned by such Shareholder, or over which such Shareholder has voting control, from time to time and at
all times, in whatever manner as shall be necessary, to ensure that the size of the Board shall be set and remain at seven (7)
directors elected pursuant to Section 1.2(c) and may be increased only with the written consent of the Shareholders who
are signatories to this Agreement, subject to the limitations of Section 6.

 

1.2
Board Composition.

 

(a) Prior
to NASDAQ Uplisting. Subject to Section 1.1(b), Section 1.1(c), Section 1.2(b), and Section 1.2(c),
as promptly as practicable after the execution of this Agreement, the Company and the Shareholders shall cause the appointment
of the following individuals to fill vacant seats on the Board (but only to the extent such individual is not already serving as
a director), and each Shareholder agrees to vote, or cause to be voted, all Shares owned by such Shareholder, or over which such
Shareholder has voting control, from time to time and at all times, in whatever manner as shall be necessary, to ensure that at
each annual or special meeting of shareholders at which an election of directors is held or pursuant to any written consent of
the shareholders, the following individuals shall be elected to the Board:

 

(i) one
individual designated from time to time by CIMA, which seat shall initially be vacant and which person shall be subsequently identified
by CIMA in its discretion;

 

(ii) one
individual designated from time to time by Dinar, which individual shall initially be Yochanon Bruk;

 

(iii) one
individual designated by De Prado, who shall initially be De Prado; and

 

(iv) two
individuals designated by Maimon, who shall initially be Maimon and Natali Dadon.

 

    3

     

    

 

(b) After
NASDAQ Uplisting. Subject to Section 1.1(c) and Section 1.2(c), if the NASDAQ Uplisting is completed and the
size of the Board is increased to eleven (11) directors pursuant to Section 1.1(b), then the Company and the Shareholders
shall cause the appointment of the following individuals to the Board, and each Shareholder agrees to vote, or cause to be voted,
all Shares owned by such Shareholder, or over which such Shareholder has voting control, from time to time and at all times, in
whatever manner as shall be necessary, to ensure that at each annual or special meeting of shareholders at which an election of
directors is held or pursuant to any written consent of the shareholders, the following individuals shall be elected to the Board:

 

(i) one
individual designated from time to time by CIMA;

 

(ii) one
individual designated from time to time by Dinar;

 

(iii) one
individual designated by De Prado;

 

(iv) two
individuals designated by Maimon; and

 

(v) six
directors elected by the shareholders of the Company pursuant to the Company’s Amended and Restated Articles of Incorporation
(as further amended from time to time, the “Articles”) and Amended and Restated Bylaws (as further amended
from time to time, the “Bylaws”), each as further amended from time to time.

 

(c) Budgetary
Violation Before NASDAQ Uplisting. It is agreed by the parties that, until the NASDAQ Uplisting, management will present a
quarterly budget to the Board of Directors for its approval at least two weeks before the beginning of each fiscal quarter. For
the avoidance of doubt, the first fiscal quarter for which such a budget shall be presented and approved shall be the fiscal quarter
ending March 31, 2020. It also agreed that prior to the NASDAQ Uplisting, if the Company’s expenses exceed the expenses set
forth in any such quarterly budget for the Company for two consecutive fiscal quarters during the fiscal year ending December 31,
2020, by more than twenty percent (20%), either individually or in the aggregate, without the prior written approval of at least
three of CIMA, Dinar, Maimon, and De Prado (each of the matters described in (x) and (y) above, a “Budget Violation”),
then the size of the Board shall be increased to seven (7) directors pursuant to Section 1.1(c), and the Company and the
Shareholders shall cause the Board to appoint the following individuals to the Board, and each Shareholder agrees to vote, or cause
to be voted, all Shares owned by such Shareholder, or over which such Shareholder has voting control, from time to time and at
all times, in whatever manner as shall be necessary, to ensure that at each annual or special meeting of shareholders at which
an election of directors is held or pursuant to any written consent of the shareholders, the following individuals shall be elected
to the Board:

 

(i) two
individuals designated from time to time by CIMA,

 

(ii) two
individuals designated from time to time by Dinar,

 

(iii) one
individual designated from time to time by De Prado, and

 

(iv) two
individuals designated from time to time by Maimon, and

 

thereafter, the executive
officers of the Company may be removed by the affirmative vote of at least four directors, and upon such removal, the Board shall
appoint new executive officers of the Company.

 

    4

     

    

 

(d) The
Shareholders shall cause the Board to include the individuals identified by the Shareholders pursuant to Section 1.2 to
be included as nominees for election to the Board on the slate of nominees recommended by the Board in the Company’s future
proxy statements and on its proxy cards for future annual or special meetings of the shareholders at which an election of directors
is held or pursuant to any written consent of the shareholders, and shall use its best efforts (which shall include the solicitation
of proxies) to obtain the election of such individuals to the Board for as long as this Agreement is in effect, subject to the
limitations of Section 6.

 

(e) To
the extent that any of Section 1.2(a)(i) through Section 1.2(a)(iv), Section 1.2(b)(i) through Section
1.2(b)(v), or Section 1.2(c)(i) through Section 1.2(c)(iv) shall not be applicable (including, but not limited
to, as a result of a Shareholder ceasing to have rights under this Agreement pursuant to Section 6), any member of the Board
who would otherwise have been designated in accordance with the terms thereof shall instead be voted upon by all of the shareholders
of the Company entitled to vote thereon in accordance with, and pursuant to, the Company’s Articles and Bylaws.

 

(f) For
purposes of this Agreement, an individual, firm, corporation, partnership, association, limited liability company, trust, or any
other entity (collectively, a “Person”) shall be deemed to be an “Affiliate”
of another Person who, directly or indirectly, controls, is controlled by, or is under common control with such Person, including,
but not limited to, any general partner, managing member, officer, or director of such Person.

 

1.3
Failure to Designate a Board Member. In the absence of any designation by
the Persons or groups with the right to designate a director as specified above, the director previously designated by them and
then serving on the Board shall be reelected if still eligible and willing to serve as provided herein and, otherwise, such Board
seat shall remain vacant.

 

1.4
Removal of Board Members. Each Shareholder also agrees to vote, or cause
to be voted, all Shares owned by such Shareholder, or over which such Shareholder has voting control, from time to time and at
all times, in whatever manner as shall be necessary, to ensure that:

 

(a) no
director elected pursuant to Section 1.2 of this Agreement may be removed from office other than for cause unless (i) such
removal is directed or approved by the affirmative vote of the Person(s) entitled under Section 1.2 to designate such director;
or (ii) the Person(s) originally entitled to designate or approve such director or occupy such Board seat pursuant to Section
1.2 is no longer so entitled to designate or approve such director or occupy such Board seat, including as a result of the
limitations in Section 6;

 

(b) any
vacancies created by the resignation, removal, or death of a director elected pursuant to Section 1.2 shall be filled pursuant
to the provisions of this Section 1; and

 

(c) upon
the request of any party entitled to designate a director as provided in Section 1.2 to remove such director, such director
shall be removed.

 

    5

     

    

 

All Shareholders
agree to execute any written consents required to perform the obligations of this Agreement, and the Company agrees at the request
of any Person or group entitled to designate directors to call a special meeting of shareholders for the purpose of electing directors.

 

1.5
No Liability for Election of Recommended Directors. No Shareholder, nor
any Affiliate of any Shareholder, shall have any liability, as a result of designating an individual (other than the Shareholder)
for election as a director, for any act or omission by such designated individual in such individual’s capacity as a director
of the Company, nor shall any Shareholder have any liability as a result of voting for any such designee in accordance with the
provisions of this Agreement.

 

1.6
Other Governance Matters. For as long as any individual designated by CIMA
or Dinar pursuant to Section 1.2 is serving on the Board, then: (a) each committee of the Board shall include at least
one director designated by CIMA, if requested by CIMA, and one director designated by Dinar, if requested by Dinar; and (b) the
Board shall meet at least once per calendar quarter unless otherwise agreed upon by a vote of the majority of the Board; provided,
that any such decision not to hold a quarterly meeting must include the affirmative vote of at least one director designated by
CIMA and at least one director designated by Dinar in order to be effective. Promptly after the execution of this Agreement, in
preparation for the NASDAQ Uplisting, the Shareholders shall cause the Board to, and the Company shall, take all commercially
reasonable steps to comply with NASDAQ Listing Standards relating to corporate governance, including, but not limited to, holding
an Annual Meeting of Shareholders, adopting and adhering to a Conflict of Interest Policy for transactions involving related parties,
and creating standing committees of the Board similar to other U.S. companies whose shares are publicly traded on the NASDAQ exchange.

 

1.7
Board Observer. At any time when CIMA or Dinar, as applicable, does not
have a designee serving as a director of the Company, the Company shall invite one representative of CIMA (who shall initially
be Juan Martin Gomez) or one representative of Dinar, as applicable, to attend all meetings of the Board in a non-voting observer
capacity and, in this respect, shall give such representative copies of all notices, minutes, consents, and other materials that
the Company provides to its directors at the same time and in the same manner as provided to such directors; provided,
however, that such representative shall agree to hold in confidence and trust and to act in a fiduciary manner with respect
to all information so provided; and provided further, that the Company reserves the right to withhold any information and
to exclude such representative from any meeting or portion thereof if access to such information or attendance at such meeting
could adversely affect the attorney-client privilege between the Company and its counsel or result in disclosure of trade secrets
or a conflict of interest.

 

2.
Voting Provisions Regarding Share Reclassification and Amended and Restated Articles of Incorporation.
Each of Maimon, De Prado, Dinar, and CIMA agree to vote all of their respective shares of Voting Stock (which, for the avoidance
of doubt, shall include all of their respective shares of Common Stock and Series B Preferred Stock), to (a) authorize, approve,
and direct the Company file Amended and Restated Articles of Incorporation of the Company with the Florida Department of State,
Division of Corporations, substantially in the form attached as Appendix A to the Schedule 14A (Preliminary Proxy Statement) filed
with the Securities and Exchange Commission on December 10, 2019 (the “Preliminary Proxy”), with any
deviations therefrom to be agreed upon by Maimon, De Prado, Dinar and CIMA; and (b) approve all other proposals set forth in the
Preliminary Proxy and any additional matters set forth in a subsequent Definitive Proxy Statement based on the Preliminary Proxy,
in each case, as soon as practicable after the closing of the transactions contemplated by the Purchase Agreement, but no later
than May 28, 2020.

 

    6

     

    

 

3.
Grant of Irrevocable Proxies for CIMA and Dinar.

 

3.1
Definitions. The following definitions shall apply for purposes of this
Section 3:

 

(a) “CIMA
Proxy Stock” means a number of shares of Series B Preferred Stock, which may fluctuate from time to time subject
to the terms and conditions of this Agreement, that CIMA would need to own and control in order for the sum of (i) the voting power
represented by CIMA’s shares of Voting Stock, plus (ii) the voting power represented by the CIMA Proxy Stock, to equal 25.0%
of all of the voting power of the Common Stock and Series B Preferred Stock of the Company.

 

(b) “Dinar
Proxy Stock” means a number of shares of Series B Preferred Stock, which may fluctuate from time to time subject
to the terms and conditions of this Agreement, that Dinar would need to own and control in order for the sum of (i) the voting
power represented by Dinar’s shares of Voting Stock, plus (ii) the voting power represented by the Dinar Proxy Stock, to
equal 25.0% of all of the voting power of the Common Stock and Series B Preferred Stock of the Company.

 

(c) “Pro
Rata Percentage” means, for purposes of this Section 3, the product obtained by multiplying the number of
shares of CIMA Proxy Stock or Dinar Proxy Stock, as applicable, by the quotient of (i) the number of shares of Voting Stock owned
by Maimon or De Prado, as applicable, as of the date on which the calculation is being made, divided by (ii) the total number of
shares of Voting Stock owned by Maimon and De Prado as of the date on which the calculation is being made.

 

3.2
Proxy for CIMA. Each of Maimon and De Prado hereby appoint CIMA as his proxy
and attorney-in-fact, with full power of substitution and resubstitution, to vote or act by written consent with respect to shares
of his Voting Stock representing his Pro Rata Percentage of the CIMA Proxy Stock, as may be recalculated from time to time subject
to the terms and conditions of this Agreement, until the CIMA Warrant is exercised. Maimon and De Prado shall take such further
actions and execute such other instruments as may be necessary from time to time to effectuate the intent of their respective
proxies and limited powers of attorney. The proxies and limited powers of attorney granted by Maimon and De Prado pursuant to
this Section 3 shall (a) be irrevocable until CIMA exercises the CIMA Warrant, (b) be deemed to be coupled with an interest
sufficient in law to support an irrevocable proxy, and (c) shall revoke any and all prior proxies granted by Maimon or De Prado,
as applicable, with respect to the matters contemplated hereunder. The power of attorney granted by Maimon and De Prado pursuant
to this Section 3 is a limited durable power of attorney and, with respect to each of Maimon and De Prado, shall survive
the bankruptcy, death, or incapacity of each of Maimon and De Prado, as applicable. Each of Maimon and De Prado hereby revokes
any and all previous proxies or powers of attorney with respect to their respective shares of Voting Stock and shall not hereafter,
unless and until CIMA exercises the CIMA Warrant, purport to grant any other proxy or power of attorney with respect to any of
the CIMA Proxy Stock or deposit any of the CIMA Proxy Stock into a voting trust, voting agreement, or other voting arrangement
with any person or entity, directly or indirectly, to vote, grant any proxy, or give instructions with respect to the voting of
any of the CIMA Proxy Stock. Each of Maimon and De Prado agrees that he will not, and will not permit any entity under his control,
to grant any proxies with respect to the CIMA Proxy Stock or subject any of the CIMA Proxy Stock to any voting trust, voting agreement,
or other voting arrangement with respect to the CIMA Proxy Stock other than pursuant to this Agreement. For the avoidance of doubt,
upon CIMA’s exercise of the CIMA Warrant, the proxy described in this Section 3.2 shall terminate, but the other
rights of CIMA set forth in this Agreement shall continue in full force and effect subject to Section 6.1.

 

    7

     

    

 

3.3
Proxy for Dinar. Each of Maimon and De Prado hereby appoint Dinar as his
proxy and attorney-in-fact, with full power of substitution and resubstitution, to vote or act by written consent with respect
to shares of his Voting Stock representing his Pro Rata Percentage of the Dinar Proxy Stock, as may be recalculated from time
to time subject to the terms and conditions of this Agreement, until the Dinar Warrant is exercised. Maimon and De Prado shall
take such further actions and execute such other instruments as may be necessary from time to time to effectuate the intent of
their respective proxies and limited powers of attorney. The proxies and limited powers of attorney granted by Maimon and De Prado
pursuant to this Section 3 shall (a) be irrevocable until Dinar exercises the Dinar Warrant, (b) be deemed to be coupled
with an interest sufficient in law to support an irrevocable proxy, and (c) shall revoke any and all prior proxies granted by
Maimon or De Prado, as applicable, with respect to the matters contemplated hereunder. The power of attorney granted by Maimon
and De Prado pursuant to this Section 3 is a limited durable power of attorney and, with respect to each of Maimon and
De Prado, shall survive the bankruptcy, death, or incapacity of each of Maimon and De Prado, as applicable. Each of Maimon and
De Prado hereby revokes any and all previous proxies or powers of attorney with respect to their respective shares of Voting Stock
and shall not hereafter, unless and until Dinar exercises the Dinar Warrant, purport to grant any other proxy or power of attorney
with respect to any of the Dinar Proxy Stock or deposit any of the Dinar Proxy Stock into a voting trust, voting agreement, or
other voting arrangement with any person or entity, directly or indirectly, to vote, grant any proxy, or give instructions with
respect to the voting of any of the Dinar Proxy Stock. Each of Maimon and De Prado agrees that he will not, and will not permit
any entity under his control, to grant any proxies with respect to the Dinar Proxy Stock or subject any of the Dinar Proxy Stock
to any voting trust, voting agreement, or other voting arrangement with respect to the Dinar Proxy Stock other than pursuant to
this Agreement. For the avoidance of doubt, upon Dinar’s exercise of the Dinar Warrant, the proxy described in this Section
3.3 shall terminate, but the other rights of Dinar set forth in this Agreement shall continue in full force and effect subject
to Section 6.2.

 

4.
Covenants.

 

4.1 Each
of Maimon and De Prado hereby represents, warrants, and agrees that, without first obtaining CIMA’s and Dinar’s prior
written consent, he shall not (a) grant any liens, claims, charges, security interests, or other encumbrances on any shares of
Voting Stock that are necessary to fulfill their respective obligations under Section 3.1 and Section 3.2 for as
long as the proxies described in Section 3.1 and Section 3.2 are in effect, other than those that may be created
pursuant to applicable securities laws, the Transaction Documents, or this Agreement; (b) grant any options, warrants, or other
rights, agreements, arrangements, or commitments of any kind relating to the pledge, disposition, or voting of any shares of Voting
Stock that are necessary to fulfill their respective obligations under Section 3.1 and Section 3.2 for as long as
the proxies described in Section 3.1 and Section 3.2 are in effect; and (c) enter into any voting trusts, voting
agreements, or other voting arrangement with respect to any shares of Voting Stock that are necessary to fulfill their respective
obligations under Section 3.1 and Section 3.2 for as long as the proxies described in Section 3.1 and Section
3.2 are in effect, other than this Agreement and applicable trust agreements for estate planning purposes, including, but not
limited to, charitable remainder trusts.

 

    8

     

    

 

4.2 Each
of Maimon and De Prado hereby represents and warrants to CIMA and Dinar that: (a) he has the full power and authority to enter
into, execute, and deliver this Agreement and to fully perform his obligations pursuant to this Agreement; (b) this Agreement constitutes
his legal, valid, and binding obligation in accordance with its terms; (c) he has not granted any other proxy or entered into any
other voting trust, voting agreement, or similar voting arrangement with respect to his shares of Voting Stock; (d) he has not
granted any liens, claims, charges, security interests, or other encumbrances on any of his shares of Voting Stock that are necessary
to fulfill his obligations under Section 3.1 and Section 3.2; and (e) his shares of Voting Stock described in the
recitals of this Agreement constitute all of the securities of the Company directly or indirectly owned by him as of the date of
this Agreement.

 

4.3 Notwithstanding
anything to the contrary in this Agreement, neither Maimon nor De Prado shall transfer any shares of Voting Stock that are necessary
to fulfill their respective obligations under Section 3.1 and Section 3.2 for as long as the proxies described in
Section 3.1 and Section 3.2 are in effect. For the avoidance of doubt, Maimon and De Prado shall be free to transfer
any shares of Voting Stock that they own that are not necessary for fulfilling their respective obligations under Section 3.1
and Section 3.2. For purposes of this Agreement, “Transfer”
means to, directly or indirectly, sell, transfer, assign, pledge, encumber, hypothecate, or similarly dispose of, either voluntarily
or involuntarily, by operation of law or otherwise, or to enter into any contract, option, or other arrangement or understanding
with respect to the sale, transfer, assignment, pledge, encumbrance, hypothecation, or similar disposition of, any Voting Stock
or any interest (including a beneficial interest) in any Voting Stock.

 

5.
Remedies.

 

5.1
Covenants of the Company. The Company agrees to use its best efforts, within
the requirements of applicable law, to ensure that the rights granted under this Agreement are effective and that the parties
enjoy the benefits of this Agreement. Such actions include, but are not limited to, the use of the Company’s best efforts
to cause the nomination and election of the directors as provided in this Agreement.

 

    9

     

    

 

5.2
Remedial Irrevocable Proxy and Power of Attorney. Each party to this Agreement
hereby constitutes and appoints as the proxy of the parties, and hereby grants a power of attorney to, a designee of CIMA (who
shall be an executive officer of CIMA and shall initially be Juan Martin Gomez), with full power of substitution, with respect
to the matters set forth herein, including, but not limited to, the election of individuals as members of the Board in accordance
with Section 1 hereof and the approval of the matters described in Section 2, and hereby authorizes each of them
to represent and vote, if and only if such party (i) fails to vote, or (ii) attempts to vote (whether by proxy, in person,
or by written consent), in a manner that is inconsistent with the terms of this Agreement, all of such party’s Shares in
favor of the election of individuals as members of the Board determined pursuant to and in accordance with the terms and provisions
of this Agreement and the approval of the matters described in Section 2. Each of the proxy and power of attorney granted
pursuant to this Section 5.2 is given in consideration of the agreements and covenants of the Company and the parties in
connection with the transactions contemplated by this Agreement and, as such, each is coupled with an interest and shall be irrevocable
unless and until CIMA’s rights under this Agreement terminate or expire pursuant to Section 6 hereof. Each party
hereto hereby revokes any and all previous proxies or powers of attorney with respect to the Shares (except as set forth in Section
3) and shall not hereafter, unless and until CIMA’s rights under this Agreement terminate or expire pursuant to Section
6 hereof, purport to grant any other proxy or power of attorney with respect to any of the Shares, deposit any of the Shares
into a voting trust, or enter into any agreement (other than this Agreement), arrangement, or understanding with any Person, directly
or indirectly, to vote, grant any proxy, or give instructions with respect to the voting of any of the Shares, in each case, with
respect to any of the matters set forth herein.

 

5.3
Specific Enforcement. Each party to this Agreement acknowledges and agrees
that each party hereto will be irreparably damaged in the event any of the provisions of this Agreement are not performed by the
parties in accordance with their specific terms or are otherwise breached. Accordingly, it is agreed that each of the Company
and the Shareholders shall be entitled to an injunction to prevent breaches of this Agreement and to specific enforcement of this
Agreement and its terms and provisions in any action instituted in any court of the United States or any state having subject
matter jurisdiction.

 

5.4
Remedies Cumulative. All remedies, either under this Agreement or by law
or otherwise afforded to any party, shall be cumulative and not alternative.

 

6.
Term. Subject to Section 6.1 through Section 6.4 below, this
Agreement shall be effective as of the date hereof and shall continue in effect until the earlier to occur of (a) the parties
to this Agreement executing a binding written agreement terminating this Agreement; or (b) the termination of all of CIMA’s,
Dinar’s, De Prado’s, and Maimon’s respective rights under this Agreement pursuant to the terms and conditions
of Section 6.1 through Section 6.4. Notwithstanding the foregoing sentence and the terms and conditions of Section
6.1 through Section 6.4, the termination of the proxies set forth in Section 3.1 and Section 3.2 shall
be governed by Section 3.1 and Section 3.2, respectively.

 

6.1
CIMA. CIMA’s rights under this Agreement shall automatically terminate
upon the earliest to occur of: (a) the termination of the License Agreement; (b) the payment in full of all outstanding principal,
accrued and unpaid interest, and all other amounts required to be paid by the Company to CIMA under the Debenture in cash and
not as a result of the conversion of the Debenture into Common Stock of the Company; or (c) after the conversion of the Debenture
into Common Stock of the Company, the date on which CIMA ceases to own 5% or more of the issued and outstanding Common Stock of
the Company.

 

    10

     

    

 

6.2
Dinar. Dinar’s rights under this Agreement shall automatically terminate
when Dinar ceases to own 5% or more of the issued and outstanding Common Stock of the Company.

 

6.3
De Prado. De Prado’s rights under this Agreement shall automatically
terminate when De Prado ceases to own 5% or more of the issued and outstanding Common Stock of the Company.

 

6.4
Maimon. Maimon’s rights under this Agreement shall automatically terminate
when Maimon ceases to own 5% or more of the issued and outstanding Common Stock of the Company.

 

7.
Other Provisions.

 

7.1
Successors and Assigns. The terms and conditions of this Agreement shall
inure to the benefit of and be binding upon the respective successors and permitted assigns of the parties. Nothing in this Agreement,
express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns
any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.
No party shall assign this Agreement without the prior written consent of the other parties to this Agreement.

 

7.2
Governing Law. This Agreement shall be governed by the internal laws of
the State of Florida, without regard to conflict of law principles that would result in the application of any law other than
the law of the State of Florida.

 

7.3
Counterparts. This Agreement may be executed in two or more counterparts,
each of which shall be deemed an original, and all of which together shall constitute one and the same instrument. Counterparts
may be delivered via fax, e-mail (including .pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000,
such as DocuSign) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly
delivered and be valid and effective for all purposes.

 

7.4
Notices. All notices and other communications given or made pursuant to
this Agreement shall be in writing and shall be deemed effectively given upon the earlier of actual receipt or (i) personal delivery
to the party to be notified, (ii) when sent, if sent by e-mail during normal business hours of the recipient, and if not sent
during normal business hours, then on the recipient’s next business day, (iii) five (5) days after having been sent by registered
or certified mail, return receipt requested, postage prepaid, or (iv) one business day after deposit with a nationally recognized
overnight courier, freight prepaid, specifying next business day delivery, with written verification of receipt. All communications
shall be sent to the respective parties at their address set forth below or any other address as subsequently modified by written
notice given in accordance with this Section 7.4:

 

If to the Company,
Maimon, or De Prado:

 

Cuentas
Inc.

200 S. Biscayne Blvd., Suite 5500

Miami,
Florida 33131

Attn:
Arik Maimon and Michael De Prado

 

    11

     

    

 

If to
CIMA:

 

CIMA Telecom,
Inc.

1728 SW
22nd Street, 6th Floor

Miami,
Florida 33145

Attn: Juan
Martin Gomez

 

If
to Dinar:

 

Dinar
Zuz LLC

1898
NW 74th Avenue

Pembrook
Pines, Florida 33024

Attn:
Yochanon Bruk

 

7.5
Consent Required to Amend, Modify, Terminate or Waive. This Agreement may
be amended, modified, or terminated only by a written agreement signed by all of CIMA, Dinar, De Prado, Maimon, and the Company.
The observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively
or prospectively) by a written instrument executed by the party providing the waiver.

 

7.6
Delays or Omissions. No delay or omission to exercise any right, power,
or remedy accruing to any party under this Agreement, or upon any breach or default of any other party under this Agreement, shall
impair any such right, power, or remedy of such non-breaching or non-defaulting party nor shall it be construed to be a waiver
of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring, nor
shall any waiver of any single breach or default be deemed a waiver of any other breach or default previously or thereafter occurring.
Any waiver, permit, consent, or approval of any kind or character on the part of any party of any breach or default under this
Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and shall
be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by law or
otherwise afforded to any party, shall be cumulative and not alternative.

 

7.7
Severability. The invalidity or unenforceability of any provision hereof
shall in no way affect the validity or enforceability of any other provision.

 

7.8
Entire Agreement. This Agreement, the Articles, the Bylaws, and the other
Transaction Agreements (as defined in the Purchase Agreement) constitute the full and entire understanding and agreement between
the parties with respect to the subject matter hereof.

 

    12

     

    

 

7.9
Share Certificate Legend. Each certificate representing any Shares of Voting
Stock of the Company issued to a signatory to this Agreement prior to or after the date hereof shall be notated by the Company
with a legend reading substantially as follows:

 

“THE
SHARES REPRESENTED HEREBY ARE SUBJECT TO A VOTING AGREEMENT AND PROXY, AS MAY BE AMENDED FROM TIME TO TIME (A COPY OF WHICH MAY
BE OBTAINED UPON WRITTEN REQUEST FROM THE COMPANY).”

 

The
Company, by its execution of this Agreement, agrees that it will cause the certificates evidencing the Shares issued to a Shareholder
prior to or after the date hereof to be notated with the legend required by this Section 7.9 of this Agreement, and the
Company shall supply, free of charge, a copy of this Agreement to any holder of such Shares upon written request from such holder
to the Company at its principal office. The parties to this Agreement do hereby agree that the failure to cause the certificates
evidencing the Shares to be notated with the legend required by this Section 7.9 herein and/or the failure of the Company
to supply, free of charge, a copy of this Agreement as provided hereunder shall not affect the validity or enforcement of this
Agreement.

 

7.10
Stock Splits, Stock Dividends, Etc. In the event of any issuance of additional
Shares hereafter to any of the Shareholders (including, without limitation, in connection with any stock split, stock dividend,
recapitalization, reorganization, or the like), such Shares shall become subject to this Agreement and shall be notated with the
legend set forth in Section 7.9.

 

7.11
Manner of Voting. The voting of Shares pursuant to this Agreement may be
effected in person, by proxy, by written consent, or in any other manner permitted by applicable law. For the avoidance of doubt,
voting of the Shares pursuant to this Agreement need not make explicit reference to the terms of this Agreement.

 

7.12
Further Assurances. At any time or from time to time after the date hereof,
the parties agree to cooperate with each other, and at the request of any other party, to execute and deliver any further instruments
or documents and to take all such further action as the other party may reasonably request in order to carry out the intent of
the parties hereunder.

 

7.13
Dispute Resolution. The parties (a) hereby irrevocably and unconditionally
submit to the jurisdiction of the state courts of Florida and to the jurisdiction of the United States District Court for the
Southern District of Florida for the purpose of any suit, action or other proceeding arising out of or based upon this Agreement,
(b) agree not to commence any suit, action, or other proceeding arising out of or based upon this Agreement except in the state
courts of Florida or the United States District Court for the Southern District of Florida, and (c) hereby waive, and agree not
to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject
personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution,
that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper
or that this Agreement or the subject matter hereof may not be enforced in or by such court.

 

    13

     

    

 

Waiver
of Jury Trial: EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON
OR ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, THE SHARES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE
OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE
SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH
OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO
AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH
PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS
FOLLOWING CONSULTATION WITH LEGAL COUNSEL.

 

7.14
Costs of Enforcement. If any party to this Agreement seeks to enforce its
rights under this Agreement by legal proceedings, the non-prevailing party shall pay all costs and expenses incurred by the prevailing
party, including, without limitation, all reasonable attorneys’ fees and costs.

 

7.15
Aggregation of Stock; Capacity.  All Shares held or acquired by a Shareholder
and/or its Affiliates shall be aggregated together for the purpose of determining the availability of any rights under this Agreement,
and such Affiliates may apportion such rights as among themselves in any manner they deem appropriate.

 

[Remainder
of Page Left Blank - Signatures Follow] 

 

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

 

	 	Company:
	 	 
	 	Cuentas Inc., a Florida corporation
	 	 
	 	By:	 /s/ Arik Maimon
	 	Name:  	Arik Maimon
	 	Title:  	Chief Executive Officer
	 	 
	 	/s/ Arik Maimon
	 	Arik Maimon
	 	 
	 	/s/ Michael De Prado
	 	Michael De Prado
	 	 
	 	Dinar:
	 	 
	 	Dinar Zuz LLC, a Florida limited liability company
	 	 
	 	By:	/s/ Yochanon Bruk
	 	Name:  	Yochanon Bruk
	 	Title:  	Manager
	 	 
	 	CIMA:
	 	 
	 	CIMA Telecom Inc., a Florida corporation

 doing business as “CIMA Group”
	 	 
	 	By:	/s/ Juan Martin Gomez
	 	Name:  	Juan Martin Gomez
	 	Title: 	 Chief Executive Officer

 

Signature
Page to Voting Agreement and Proxy

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