Document:

EX-4.12

 Exhibit 4.12 

SEQUANS COMMUNICATIONS 

Société anonyme au capital de 1.182.668,64 Euros 

Siège social : Les Portes de la Défense, 15-55 boulevard Charles de Gaulle - 92700 COLOMBES 

RCS Nanterre B 450 249 677 
 BSA
(Warrants) Issuance Agreement 
  
  

Dated June 26th, 2014 
 (1) SEQUANS COMMUNICATIONS 

(2) THE HOLDER OF BSA 

 Summary 

PREAMBLE : PRESENTATION OF THE ISSUANCE AGREEMENT 
  

							
	Title 1.		SUBSCRIPTION AND FEATURES OF BSA		3
				
			Article 1.		Holder of BSA		3
			Article 2.		Allotment and subscription of BSA		3
			Article 3.		Features and period of validity of BSA – Conditions of exercise		4
			Article 4.		Termination of the mandate of non-executive Board Member of Sequans Communications		4
			Article 5.		Setting of the subscription price for shares covered by the BSA		4
			
	Title 2.		RIGHT OF EXERCISE – SUSPENSION – FORMALITIES – SHARES SUBSCRIBED		4
				
			Article 6.		Suspension of the rights to exercise the BSA		4
			Article 7.		Conditions of exercise of BSA		5
			Article 8.		Delivery and form of shares		5
			Article 9.		Rights and availability of shares		5
			
	Title 3.		REPRESENTATION OF HOLDERS - PROTECTION – AMENDMENT OF THE ISSUANCE AGREEMENT		5
				
			Article 10.		Representation of Holders		5
			Article 11.		Protection of Holders – Rights of the Company		5
			Article 12.		Binding effect – Amendment of the issuance agreement – Term – Jurisdiction		6

 WHEREAS 
 In
a decision taken on June 26th, 2014, a combined general shareholders’ meeting (the “CGM”) voted in favour of the issuance a total number of 85,000 BSA, at the price of 0.01 Euro per BSA, allocated as follows : 

 

							
	-		Mr. Hubert de Pesquidoux		10,000 BSA		
	-		Mr. Gilles Delfassy		10,000 BSA		
	-		Mr. James Patterson		10,000 BSA		
	-		Mr. Dominique Pitteloud		10,000 BSA		
	-		Mr. Zvi Slonimsky		10,000 BSA		
	-		Mr. Alok Sharma		10,000 BSA		
	-		Mr. Yves Maître		25,000 BSA		

 Each BSA gives the Holder the right to subscribe for one ordinary share at the market value approved by the most recent
Board of Directors prior to the actual issue of said BSA. This decision entails the suppression of the shareholders’ pre-emptive subscription rights with respect to the ordinary shares likely to be issued. 

Furthermore, the Board of Directors was granted the power to increase share capital by a maximum nominal amount of Euro 1,700, with respect to 85,000 BSA, to
record the successive increases in share capital as a result of the exercise of the BSA, and to carry out all formalities required as a result thereof. 

The CGM, having eliminated the preferred subscription right of shareholders to the BSA, fully reserved subscription of these BSA for the subscribers
designated by the CGM. 
 The purpose of this BSA issuance agreement (the “Issuance Agreement”) is to define the terms and conditions governing
the BSA issued to each Holder with a vesting period. 
 THE PARTIES AGREE AS FOLLOWS 

Title 1. SUBSCRIPTION AND FEATURES OF BSA 
  

	Article 1.	Holder of BSA 

 The Holder is a physical person being an non-executive member of the
Company’s Board of Directors, designated by the CGM. 
 The number of BSA allocated to the Holder is 10.000 or 25.000, as provided in the recitals.

  

	Article 2.	Allotment and subscription of BSA. 

 The BSA proposed to the Holders shall be subscribed at the
price of 0.01 Euro per BSA, price which shall be paid on subscription, either by mean of a payment in cash or by way of a set-off with a debt. 
 The number
of BSA proposed to Holder shall be indicated in an Individual Notification Letter sent to him/her by the Chairman; the subscription of such shall be done no later than 10 days from the receipt of the aforesaid letter, by returning to the
Company 
  

	 	•	 	the BSA subscription form duly signed, 

  

	 	•	 	as well as a copy of this Issuance Agreement attached to said letter, after the Holder has duly executed said copies. 

FAILURE TO COMPLY WITH THIS MAJOR FORMALITY
WITHIN THE APPLICABLE PERIOD – EXCEPT IN THE EVENT OF FORCE MAJEURE -
SHALL RENDER THE BSA ISSUED IMMEDIATELY AND AUTOMATICALLY VOID. 

	Article 3.	Features and period of validity of BSA – Conditions of exercise 

 Provided they are
subscribed for by the Holder, BSA are granted for a period of 10 years as from June 26th, 2014, date of their issuance by the CGM and subscription by the Holder. 

BSA must be exercised within the aforementioned maximum period of 10 years; furthermore, the vesting schedule is at the rate of 1/3rd per year. For the
sake of clarity, it is specified that, the Holder shall be entitled to exercise up to 1/3rd of his BSA on the first, up to 2/3rd on the second
and without restriction on the third anniversary of the date defined by the CGM and reminded in the Individual Notification Letter. 
 Exercising a BSA
entitles the Holder to subscribe for one ordinary share of Sequans Communications’ share capital at the price of USD 1.77 (closing price of Sequans Communications ADS on NYSE on 26 June 2014); the counter value in Euro shall be
determined on the exercise date of the BSA. 
 This number of shares cannot be modified during the BSA’ period of validity, except in the event of an
adjustment in the subscription price and any other adjustments in accordance with statutory and regulatory requirements. 
 Any BSA that is not exercised
before the expiry of the aforementioned 10-year period shall be null and void. 
  

	Article 4.	Termination of the mandate of non-executive Board member of Sequans Communications 

 In the event
of a termination, anticipated or not, of the Holder’s mandate as non-executive Board member of Sequans Communications, regardless of the reason, said Holder shall lose any and all rights with regard to BSA not yet exercisable on the date of the
aforesaid termination (hereafter the “Termination Date”), in accordance with the schedule for exercising the BSA set under article 2 above. 

However, the Holder retains the right to exercise BSA that are exercisable and that have not yet been exercised, provided that Holder exercises them within a
period of thirty (30) days following the Termination Date. 
 After the expiry of such period, the Holder shall lose any and all rights with regard to
unexercised BSA which shall be null and void. 
 Notwithstanding the above and in the event of death of the Holder, his heirs or beneficiaries shall have a
period of 6 months to exercise the BSA. After the expiry of this 6-month period hereinabove, said heirs or beneficiaries shall lose all rights with regard to unexercised BSA. 

However and should Sequans Communications be subject to an acquisition by a third company, all BSA subscribed by the Holder and not yet exercisable would
nevertheless become exercisable from the effective date of such change of control, notwithstanding the schedule set out under article 3 above, allowing said Holder to exercise any and all remaining BSA, provided that such exercise occurs within a
period of 30 days following the aforesaid acquisition. 
  

	Article 5.	Setting of the subscription price for shares covered by the BSA 

 The CGM decided that the
subscription price for shares to be issued pursuant to an exercise of the BSA shall be equal to the closing price of Sequans Communications share on NYSE as determined on June 26, 2014. 

This subscription price – with respect to this BSA Issuance Agreement - is set in the amount of USD 1.77 per share (ADS) ; the counter value in Euros
shall be determined on the exercise date of the BSA. The par value of each share (ADS) is EUR 0.02. 
 This price may not be changed during the BSA period
of validity, except in the event of adjustments in accordance with statutory and regulatory requirements. 
 Title 2. RIGHT OF EXERCISE
– SUSPENSION – FORMALITIES – SHARES SUBSCRIBED 
  

	Article 6.	Suspension of the rights to exercise BSA 

 If necessary, the Board of Directors may suspend the
right to exercise the BSA. In particular, a suspension may be ordered whenever a transaction concerning Sequans Communications’ share capital requires knowing in advance the exact number of shares that make up share capital or in the event that
one of the financial transactions requiring an adjustment is carried out. 

  
 - 4/6 - 

 In such case, Sequans Communications shall inform the Holders of the BSA, indicating the date of the suspension
and the date on which the right to exercise BSA will be re-established. Such suspension may not exceed 3 months. 
 If the right to exercise a BSA expires
during a period in which rights are suspended, the period for exercising the BSA shall be extended by 3 months. 
  

	Article 7.	Conditions of exercise of BSA 

 All requests for exercising BSA, documented by the signature of
the corresponding subscription certificate, shall be sent to Sequans Communications, and must be accompanied by a cheque or a money transfer made out to the Company’s order in an amount corresponding to the number of shares subscribed.
Alternatively, BSA may be exercised via any on-line equity incentives system which may be put in place by Sequans Communications. 
 Shares subscribed must
be, at the time of subscription, either fully paid up in cash or by way of a set-off with a debt. 
 Failure to do so renders the subscription of shares
null and void. 
  

	Article 8.	Delivery and form of shares 

 Shares acquired by exercising BSA are registered in the books of
Sequans Communications as registered shares. 
  

	Article 9.	Rights and availability of shares 

 The ordinary shares shall be subject to all provisions of the
by-laws and shall enjoy all rights pertaining to shares of such class as from the date the increase in share capital is completed. 
 These shares shall be
immediately transferable. 
 Title 3. REPRESENTATION OF HOLDERS – PROTECTION – AMENDMENT OF THE ISSUANCE AGREEMENT 

 

	Article 10.	Representation of Holders of BSA 

 Pursuant to the provisions of Article L. 228-103 of the
French Commercial Code, the Holders of BSA are grouped into a body with legal personality protecting their joint interests (the “masse”). General meetings of Holders meet at the registered office or in any other location of the
department of the registered office or of bordering departments. 
 The masse will appoint one or more representatives of the body, at
the request of the Board of Directors. The representative(s) of the masse will be governed by applicable legal and regulatory provisions. The representative of the masse will receive no remuneration for his duties. 

 

	Article 11.	Protection of Holders – Rights of the Company 

  

	11.1	Holders will enjoy the protection reserved by law and regulations for holders of securities giving access to the capital. The Company will provide the Holders, or their representative, with the information set out by
the law and regulations. 

  

	11.2	During the entire period of validity of the BSA, the Company will have the option of changing its form or object, without obtaining prior authorisation from the Holders of BSA. In addition, the Company shall be entitled
to change the rules for distributing profits, write down its capital, or create preferred shares entailing such modification or writing down, subject to the prior authorisation to be delivered pursuant the terms of Article L. 228-103 of the French
Commercial code and provided that the Company accordingly take the measures necessary to maintain the rights of the Holders, in compliance with applicable legal and/or regulatory provisions. 

 

	11.3	Subject to the powers expressly reserved by law for the general meeting of shareholders and, as the case may be, for the general meeting and for the representative of the body of Holders, the Board of directors will be
empowered to take any measure relating to the protection and adjustment of the rights of Holders as provided for by the law and regulations, in particular by Article L. 228-99 of the French Commercial Code. 

 

	11.4	The Issuance Agreement and the conditions for the subscription or allotment of equity securities determined at the time of the issuance may only be amended by the extraordinary general meeting of shareholders of the
Company, with the authorisation of the Holders obtained under the conditions provided for by law, in particular by Article L. 228-103 of the French Commercial Code. 

  
 - 5/6 - 

	Article 12.	Binding effect – Amendment of the issuance agreement – Term – Jurisdiction 

  

	12.1	The Holders are automatically subject to this Issuance Agreement, through this subscription or acquisition of BSA. 

  

	12.2	This Issuance Agreement becomes effective on the date of effective subscription of the BSA and ends on the first of the following dates: (a) the expiry date of the BSA, (b) the date on which all the BSA have been
exercised or waived. In addition, it will cease to be binding on each BSA Holder on the date on which such holder ceases to hold any BSA. 

  

	12.3	This Issuance Agreement is subject to French law. Any dispute relating to this Issuance Agreement or relating to the application of the terms and conditions of the BSA will be referred to the relevant court of the
district of the Cour d’appel of the registered office of the Company. 

  

					
	SEQUANS COMMUNICATIONS		  
		
			
	M.                                      
              		  
		
			
	(the “Holder””)				
	
	(The Holder shall initialize each page, sign the last page and write down: “read and approved”)

  
 - 6/6 -EX-4.13

 Exhibit 4.13 
  

 
 Consultancy Agreement 

The present agreement (“Agreement”), dated December 11, 2014, is entered into by and between Sequans Communications S.A.
(“Sequans”), a French corporation with an office located at 15-55 boulevard Charles de Gaulle, 92700 Colombes, France, together with its subsidiaries and affiliates and Alok Sharma (“Consultant”), an independent contractor. 

1 The Mission 
 This Agreement sets forth the general
business terms under which Consultant shall provide Sequans with consulting services, as more fully detailed in Appendix A of this Agreement and/or with respect to other similar services as shall be specified in the future by Sequans and agreed with
Consultant from time to time (“Consulting Services” or “Mission”). 
 Consultant’s activities with respect to this Agreement shall
be coordinated with Sequans through Georges Karam, CEO, or anyone else determined by Sequans. 
 The Consulting Services shall generally be rendered in
India. Consultant hereby acknowledges and agrees that the Consulting Services may require flexible working hours and may include, among other things, at Sequans’ request and approval, occasional travel, at Sequans’ expense. 

Documentation materials, models and other work developed by Consultant for Sequans under the Mission shall be referred to herein as “Deliverables.”

 Consultant shall maintain electronic records related to the Services provided in connection with the Mission. 

Consultant shall regularly keep Sequans advised as to Consultant’s progress in performing the Consulting Services hereunder, and will, as may be
requested by Sequans, prepare written reports with respect thereto. 
 2 Payment for the Mission - Expenses 

In consideration of the performance and the duration of the Mission, Sequans shall pay to the Consultant the fee set forth in Appendix A (“the Fee”).

 Consultant shall invoice Sequans starting with the last day of each month for his Fee and for his other costs. Such invoices shall be due and payable
within 15 days of receipt of the invoice. 
 If needed, Sequans will furnish all specific materials and equipment (such as product samples and prototypes)
required to provide the Services under this Agreement. 
 Sequans shall reimburse Consultant for reasonable out-of-pocket expenses (included but not limited
to flight tickets, accommodations, conferences fee, etc.) which have been authorized in advance in writing by Sequans and incurred in connection with performances of the Consulting Services. Such expenses shall be itemized on Consultant’s
invoices and supported with receipts. Company shall pay such invoices along with the above monthly Fee. 
 3 Term 

This Agreement shall commence on December 11, 2014 and shall continue in force for 3 (three) months except if terminated pursuant to Section 8. After that
initial period, the Agreement may be extended by mutual written consent for additional analysis phases. 
 4 Relationship of the Parties 

Consultant is engaged by Sequans as an independent Consultant on the basis of his specific skill. Consultant shall not disclose to any third party information
concerning any efforts undertaken for Sequans except information which is required to fulfill the Mission, without the express prior written consent of Sequans. 

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 Consultant shall perform the Mission under its own responsibility and shall determine the adequate manner and
means by which the Mission is accomplished, subject to the express condition that Consultant shall at all times comply with the terms and conditions of this Agreement and applicable law. 

Consultant shall not subcontract any of its duties under this Agreement, nor retain third parties to furnish services to it, in connection with its
performance of this Agreement except with the express prior written consent of Sequans. 
 During the Term of this Agreement and for three (3) months
thereafter, Consultant shall not provide substantially similar services for a third party who directly competes with Sequans within the specific Consultancy Service scope without prior written approval of Sequans. 

5 Warranties - Limitation of Liability 
 Consultant
warrants that (i) all services performed under this Agreement shall be performed with general prevailing professional or industry standards and that (ii). In the performance of the Mission, Consultant will not use any confidential, proprietary, or
trade secret information that it has learned in prior projects for other clients, nor will it violate any existing copyright, trademark and/or patent 

Consultant represents and warrants that he is not under any pre-existing obligation or obligations inconsistent with the provisions of this Agreement. 

Sequans takes over the responsibility for the accuracy of the content of the Deliverables. The accuracy of Deliverables cannot be warranted against continued
development of Sequans’ products or technology, inaccuracies in Sequans’ source material supplied to Consultant or lack of review by Sequans’ technical experts. 

EXCEPT FOR THE WARRANTIES CONTAINED IN THIS SECTION 5, CONSULTANT MAKES NO WARRANTIES, EXPRESS OR IMPLIED FOR THE DELIVERABLES OR SERVICES DEVELOPED OR
PROVIDED UNDER STATEMENTS OF WORK OR OTHERWISE UNDER THIS AGREEMENT. CONSULTANT SPECIFICALLY DISCLAIMS THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO SUCH DELIVERABLES AND SERVICES. CONSULTANT’S
TOTAL LIABILITY UNDER ANY LEGAL THEORY SHALL BE LIMITED TO THE AMOUNT ACTUALLY PAID TO CONSULTANT FOR THE PROJECT IN QUESTION. IN NO EVENT SHALL CONSULTANT BE LIABLE FOR INDIRECT, SPECIAL PUNITIVE, CONSEQUENTIAL, OR INCIDENTAL DAMAGES INCURRED AS A
RESULT OF ITS ACTS OR OMISSION UNDER THIS AGREEMENT. HOWEVER, CONSULTANT SHALL REMAIN LIABLE FOR BODILY INJURY OR PERSONAL PROPERTY DAMAGE RESULTING FROM GROSSLY NEGLIGENT AND WILLFUL ACTIONS OF CONSULTANT WHILE ON SEQUANS PREMISES TO THE EXTENT
SUCH ACTIONS WERE NOT CAUSED BY SEQUANS. 
 6 Intellectual Property Ownership 

Consultant agrees that all right, title and interest in and to all techniques, methods, processes, formulae, improvements, inventions and discoveries made or
conceived or reduced to practice by Consultant, solely or jointly with others, which are specifically conceived in the course of providing the Services hereunder to Sequans during the period of this Agreement (“Intellectual Property”)
shall become the sole and exclusive property of Sequans, pursuant to the conditions set out hereafter in this section 6. This Agreement does not apply to an invention or other intellectual property for which no equipment, supplies, facility, or
trade secret information of Sequans was used and which was developed entirely on Consultant’s own time, and which does not relate to the business of Sequans as disclosed to Consultant and which relates to his specific
Services, and which does not result from any work performed by Consultant for Sequans. 
 Consultant shall promptly and fully disclose to Sequans all
notes, drawings, data and other information relating to Intellectual Property in the course of providing the Services during the term of this Agreement. 

To the extent that any Intellectual Property is not an “oeuvre collective” conceived under the supervision of Sequans (i.e. a “collective work
of authorship” governed by the provisions of article L.113-2 of the French Intellectual Property Code ”Code de la Propriété Intellectuelle”) which shall consequently hold all related intellectual property rights, Consultant
agrees to assign to Sequans, or its designees, without additional consideration, all Consultant full right, title and interest, now existing or hereafter created, in and to all Intellectual Property, including all rights in the nature of copyright,
trademark, patent, trade secret, know-how and associated goodwill. Consultant agrees that, during the term of this Agreement and subsequent to the 

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 completion or termination of this Agreement, Consultant shall, at Sequans’ request and expense, execute all
applications for French and foreign patents, trademarks, copyrights, or other rights, and will otherwise provide assistance (including but not limited to the execution and delivery of instruments of further assurance or confirmation) to assign such
Intellectual Property to or confirm ownership of such Intellectual Property by Sequans and to permit Sequans to enforce any patents, trademarks, copyrights, trade secrets or other rights in and to such Intellectual Property. Subject to section 6(a)
above, Consultant shall not have any proprietary or other rights whatsoever in any of the Intellectual Property, and he shall not have the right or privilege to use any such Intellectual Property. 

With respect to patents and notwithstanding the transfer to Sequans of all related Intellectual Property rights likely to be held by Consultant as inventor,
pursuant to the terms and conditions provided for under section 6 (c) herein, Sequans will take all necessary steps so that Consultant’s quality of inventor shall be expressly mentioned in the corresponding patent applications. 

7 Confidentiality 
 Confidential information. In
order to conduct the duties involved with the services to be provided to Sequans, Consultant wishes to obtain certain information concerning Sequans and its business which is not generally known, and which Sequans considers to be proprietary and/or
confidential (hereinafter referred to as “Confidential Information”), which may include but is not limited to, trade secrets, discoveries, ideas, concepts, know-how, techniques, designs, specifications, drawings, diagrams, data, computer
programs, business activities and operations, reports, studies and other technical and business information. 
 Protection of Confidential
Information. Consultant acknowledges that Sequans claims its Confidential Information as a special, valuable and unique asset. Consultant agrees that it will keep in confidence all Confidential Information and that it will not directly or
indirectly disclose to any third party or use for its own benefit, or use for any purpose other than the consultancy services provided by Consultant, any Confidential Information it receives from Sequans. Consultant agrees to use reasonable care to
protect the Confidential Information, and in no event less than the same degree of care to protect the Confidential Information as it would employ with respect to its own information of like importance, which it does not desire to have published or
disseminated. Any information exchanged by the parties and entitled to protection under this Agreement shall be identified as such by appropriate markings on any documents exchanged, or, if the disclose has been made orally, then the disclosing
party shall identify the information as “confidential” at the time the disclosure is made and, within two (2) weeks of the disclosure, shall confirm in writing the confidential nature of the oral communication. 

Limitations on Confidential Information. Confidential Information shall not include the information which: 

 

	 	•	 	The Consultant knows at the time of disclosure, free of any obligation to keep it confidential, as evidenced by written records; 

  

	 	•	 	Is or becomes publicly available through authorized disclosure; 

  

	 	•	 	Is independently developed by the Consultant without the use of any Confidential Information; or 

  

	 	•	 	The Consultant rightfully obtains from a third party who has the right to transfer or disclose it. 

 If any
portion of any Confidential Information falls within any of the above exceptions, the remainder of the Confidential Information shall continue to be subject to the requirements of this Agreement. 

Compelled Disclosure. Should the Consultant be faced with legal action to disclose Confidential Information received under this Agreement, the Consultant
shall promptly notify Sequans and, upon the request of the latter, shall cooperate with Sequans in contesting such a disclosure. Except in connection with failure to discharge the responsibilities set forth in the preceding sentence, neither party
shall be liable in damages for any disclosures pursuant to such legal action. 
 8 Termination 

Notwithstanding the duration of the Mission set forth under section 1 herein, either party may terminate this Agreement, upon written notice to the other
party, with acknowledgment of receipt. However, such termination shall respect a notice period of fifteen (15) days. 
 Either party may terminate this
Agreement without respecting any notice period if the other party has materially breached any of his obligations under the Agreement, provided a written notice was furnished to the party being in breach and such breach was not cured within 5 days of
receipt of written notice with acknowledgment of receipt 
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 Upon the termination of this Agreement for any reason, Sequans shall promptly pay Consultant any amounts due
under this Agreement – on a prorate basis with respect to the lump sum referred to under section 2 herein - upon delivery to Sequans by Consultant of work in progress and related Deliverables. Except as otherwise stated herein, each party shall
be released from all obligations and liabilities to the other party arising after the date of such termination. Sections 5, 6, 7, 8 and 9D shall survive termination of this Agreement. 

Upon termination of this Agreement Consultant shall return to Sequans all tangible property belonging to Sequans including documents, computer files, data or
programs. 
 9 Miscellaneous 
 This Agreement is the
exclusive agreement between the parties with respect to its subject matter and as of its date supersedes all prior agreements, negotiations, representations, and proposals, written or oral, related to its subject matter. Its terms cannot be
modified, supplemented, or rescinded except by an agreement in writing signed by both parties. Neither party shall be bound by nor liable to the other party for any representation, promise, or inducement made by any of such party’s agents or
employees which is not embodied in this Agreement. In the event of any discrepancy or inconsistency between this Agreement and any other form used by either party in connection herewith, the terms of this Agreement shall govern. 

If any provision of this Agreement is held invalid, illegal, or unenforceable, the validity, legality, or enforceability of the remaining provisions shall in
no way be affected or impaired thereby. 
 No waiver of any breach of this Agreement shall constitute a waiver of any other breach, whether of the same or
any other covenant, term, or condition. The subsequent performance of any of the terms, covenants, or conditions of this Agreement shall not constitute a waiver of any preceding breach, regardless of the other party’s knowledge of the preceding
breach at the time of subsequent performance, nor shall any delay or omission of either party’s exercise of any right arising from any such default affect or impair the parties’ rights as to the same or future default. 

Any and all disputes with respect to this Agreement shall be determined in accordance with the laws of France, without regard to its rules on conflict of
laws, and are irrevocably submitted to the exclusive authority of a competent court in Paris. 
 Whenever notice is required to be given under the terms of
this Agreement, it shall be in writing and shall be personally delivered or mailed, certified mail, return receipt requested, addressed as set forth on Page 1 of this Agreement, to the party to receive such notice. E-mail notifications with receipt
requested will be accepted. Any change of address of either party shall be effective upon receipt of written notice of such change by the opposite party. 

By executing this Agreement, the signatory for each party represents that it is duly authorized to execute this Agreement on behalf of such party. 

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

SEQUANS COMMUNICATIONS S.A.: 
 Signature: /s/ Deborah
Choate 
  

			
	Name:		Deborah Choate
	Title:		Chief Financial Officer
	Phone:		+33 1 70 72 16 00
	Fax:		+33 1 70 72 16 09

 ALOK SHARMA 
 Signature:
/s/ Alok Sharma 
  

			
	Name:		Alok Sharma
	 Title:
 Phone:

Fax: .
		

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 Appendix A 

Scope of Services and Fees 

Consultancy Services 
 Mission: Provide strategic
business development (including, formation of industry partnerships) support for Sequans in the key markets of India and US across specific industry verticals beyond the traditional service provider market segment. 

Key Accounts and Applications in India: 
  

	 	1.	India Defense Market (Annual expenditure of ~$40 billion) – Tata Advanced Systems, Larsen & Toubro (L&T), Mahindra Aerospace/Mahindra Engineering Services,, Wipro,
Bharat Electronics Limited etc. 

  

	 	2.	Tata Group (Revenues $103 billion) – Tata Motors (Connected Car), Tata Power (Smart Grid), Tata Steel/Chemicals (M2M/IoT), Tata Consultancy Services (Smart Cities, M2M/IoT)

  

	 	3.	Mahindra Group (Revenues $17 billion) – Mahindra & Mahindra/SsangYong Motor (Connected Car), Mahindra Systech/Tech Mahindra/Mahindra Satyam (Smart Cities), Mahindra Ugine Steel Company
(M2M) 

  

	 	4.	Wipro Group (Revenues $7.5 billion) – Wipro Ltd. (Smart Cities), Wipro Consumer Care & Lighting/Wipro Infrastructure Engineering/Wipro GE Medical Systems Limited (M2M/IoT)

  

	 	5.	Larsen and Toubro (Revenues $14.3 billion) – L&T EDRC (Smart Cities), L&T Solar/Electrical & Automation/Information technology/Machinery & Industrial Products
(M2M/IoT/Industrial Networks) 

 Note, this list is subject to modification as business conditions dictate. Further, additional accounts (such
as, Infosys, Birla Group etc.) are likely to be added as business development activity proceeds. 
 Key Accounts and Applications in US: 

 

	 	1.	Cisco (M2M/IoT) 

  

	 	2.	Intel (M2M/IoT) 

  

	 	3.	Harris (Defense – PMR, similar to Motorola Solutions) 

 This list is subject to modification
as business conditions dictate. 
 Consultancy Fee (in USD): 
  

	 	•	 	The monthly fee for the Consultancy Services above will be US$ 15,000 per month. 

  

	 	•	 	Should specific projects be identified which will require more time, the fee will be agreed in advance of any work being performed. 

  

	 	•	 	In the event that the Consultant is not able to perform the Consultancy Services or provide the Deliverables due to other commitments agreed in advance with Sequans, the fee shall be reduced on a pro rata basis for the
days not worked. 

  

	 	•	 	In addition to the Fee, Sequans shall reimburse Consultant for all reasonable out of pocket expenses as per section 2 above of the Agreement. 

 

	 	•	 	The payment of the Fee will be paid monthly within 15 days of receipt of invoice. 

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