Allowed memory size of 134217728 bytes exhausted
With regard to this part of error, it could be related to memory_limit = 134217728÷1024÷1024 = 128M
Not sure if raising this limit can help it or not, though?..
See at
http://php.net/manual/en/ini.core.php :
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[ post_max_size integer ]
Sets max size of post data allowed. This setting also affects file upload. To upload large files, this value must be larger than upload_max_filesize. If memory limit is enabled by your configure script, memory_limit also affects file uploading. Generally speaking, memory_limit should be larger than post_max_size.
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Also according to
https://kb.mediatemple.net/questions/1117/How+do+I+increase+the+PHP+upload+limits%3F#gs----
If the upload_max_filesize is larger than post_max_size, you must increase post_max_size so that it is bigger than upload_max_size.
If the value of post_max_size is larger than memory_limit, you must increase memory_limit so that it is larger than post_max_size.
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Also check if there are any limits present for max_input_time or max_execution_time (if any).
Finally, if nothing helps, you could post your ~/public_html/php.ini so that the experts could see it.
And check if there are other php.ini files messing around in your directories, here is one article that mentions how there could be many php.ini
http://www.a2hosting.com/kb/developer-corner/php/custom-php.ini-files(also .htaccess files might have upload size limits).