Document:

THIRD
AMENDMENT TO

EXECUTIVE
EMPLOYMENT AGREEMENT

 

This
is the Third Amendment (this “Third Amendment”) to that certain Executive Employment Agreement (the “Original
Agreement”) by and between Car Charging Group, Inc. (the “Company”) and Michael D. Farkas (the “Executive”)
dated October 29, 2010.

 

WHEREAS,
the Executive currently serves as Executive Chairman of the Company pursuant to the Original Agreement as amended on December
23, 2014 (the “First Amendment”) and on July 24, 2015 (the “Second Amendment”);

 

WHEREAS,
prior to entering into the Original Agreement, the Company and an entity controlled by the Executive entered into: (i) that
certain Consulting Agreement dated October 20, 2009 (the “Consulting Agreement”); and (ii) that certain Car
Charging Group, Inc. Fee/Commission Agreement dated November 17, 2009 (the “Fee Agreement”) and, after entering
into the Original Agreement, the parties entered into that certain Patent License Agreement dated March 29, 2012 among the Company,
Executive and Balance Holdings, LLC and the March 11, 2016 Agreement regarding the Patent License Agreement (collectively with
the Fee Agreement and the Consulting Agreement, the “Affiliate Agreements”) ; and

 

WHEREAS,
the Company and the Executive wish to clarify the Executive’s role, the accrued compensation owed to the Executive,
the payment terms of such accrued compensation, and the Executive’s monthly salary.

 

NOW,
THEREFORE, in consideration of the foregoing, of the mutual promises contained herein and of other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

1.
Capitalized Terms. All capitalized terms not otherwise defined herein shall have the meaning ascribed to same in the Original
Agreement.

 

2.
Effective Date. The Effective Date of this Third Amendment is June 15, 2017.

 

3.
Role as Executive Chairman. The Executive shall remain Executive Chairman of the Company’s Board of Directors (the
“Board”) reporting to the other members of the Board. The Executive has been and will remain an employee of
the Company. This role is a full-time position. For the sake of clarity, the Executive shall be one of the Company’s “named
executive officers” (as defined by Regulation S-K Item 402(a)(3) or 402(m)(2), as applicable) and shall serve as the Company’s
principle executive officer.

 

4.
The Original Agreement’s Terms and Conditions. All terms and conditions of the Original Agreement, including but
not limited to, benefits and compensation payable to the Executive pursuant to the Original Agreement, that remain unchanged by
the terms of this Third Amendment shall remain in full force and effect. The First Amendment and Second Amendment are hereby declared
null and void.

 

A.       The
Executive hereby agrees that he shall be entitled to four (4) weeks of vacation time during each calendar year during the Term
to be utilized or paid for each calendar year and, irrespective of use or payment of such vacation time, no vacation time shall
accrue and carry over into the following year.

 

B.       The
Executive hereby agrees that if Executive’s employment is terminated other than for Cause (as defined in the Original Agreement),
the Company shall be obligated to pay to Executive his salary and benefits for eighteen (18) months following the termination
date.

 

C.       The
Executive hereby agrees that he shall not be paid any Termination Fee if his employment is terminated or ends for any reason whatsoever
prior to the expiration of the Term.

 

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5.
Cash Owed Pursuant to Accrued Compensation.

 

A.       At
a Board meeting on April 17, 2014, the Board resolved to enter into a three-year contract with the Executive, whereby the Executive
was due to receive a monthly salary of $40,000 with an increase to $50,000 per month in the event the Company became listed on
a national securities exchange. The Company hereby agrees that the Executive was paid $20,000 per month from July 24, 2015 to
November 24, 2015 and there is $80,000 still owed to the Executive. The Company hereby agrees to pay the Executive the equivalent
of $15,000 per month in cash compensation for the past eighteen (18) months (from December 1, 2015 through May 31, 2017), or $270,000.

 

B.       In
addition to the payment of $270,000 of cash compensation to the Executive for the past eighteen (18) months detailed in Section
5(A), the Company hereby agrees to pay the Executive an additional $270,000 in the form of shares of the Company’s common
stock.

 

C.       The
Second Amendment had suspended the Fee Agreement and the Consulting Agreement from July 2015 to October 2015. The Company hereby
agrees to pay the Executive the following amounts due pursuant to the Affiliate Agreements: $256,500 due for accrued commissions
on hardware sales and $118,500 due for accrued commissions on revenue from charging stations.

 

6.
Securities Owed Pursuant to Accrued Compensation.

 

A.       The
Company hereby agrees to issue to the Executive the following warrants, expiring five years from the issuance date, as replacements
of expired warrants as per the Original Agreement:

 

	 	i.	Warrants
    for 100,000 shares of the Company’s common stock at an exercise price of $0.19 per share.
	 	 	 
	 	ii.	Warrants
    for 3,433,335 shares of the Company’s common stock at an exercise price of $0.43 per share.
	 	 	 
	 	iii.	Warrants
    for 2,200,000 shares of the Company’s common stock at an exercise price of $0.74 per share.
	 	 	 
	 	iv.	All
    warrants described in this Section 6(A) are on a pre-reverse stock split basis. The amounts and share prices will be adjusted
    if such warrants are issued following a reverse stock split.

 

B.       The
Company hereby agrees to issue to the Executive the following options, fully vested on issuance and expiring five years from the
issuance date, as compensation for accrued commissions on hardware sales:

 

	 	i.	Options
    for 350,000 shares of the Company’s common stock at an exercise price of $0.60 per share.
	 	 	 
	 	ii.	Options
    for 412,000 shares of the Company’s common stock at an exercise price of $0.75 per share.
	 	 	 
	 	iii.	All
    options described in this Section 6(B) are on a pre-reverse stock split basis. The amounts and share prices will be adjusted
    if such options are issued following a reverse stock split.

 

7.
Timing of Payments.

 

A.       The
Company is currently in the process of pursuing: (i) a public offering of its securities; and (ii) the listing of its shares of
common stock on the NASDAQ or other national securities exchange (collectively, the “Offering”). The Company
shall pay to the Executive $270,000 in cash (monthly cash salary owed since December 1, 2015) by the third (3rd) business
day following the closing of the Offering.

 

B.       By
the third (3rd) business day following the closing of the Offering, the Company shall issue units of shares of the
Company’s common stock and warrants sold in the Offering with a value of $645,000 (the value of the accrued commissions
on hardware sales, accrued commissions on revenue from charging stations, and accrued monthly stock compensation) at a 20% discount
to the price per unit of the units sold in the Offering. In addition, the Company and the Executive hereby agree that not all
amounts due pursuant to the Affiliate Agreements have been calculated as of the Effective Date. Once calculated using the same
methodology used to calculate the amounts owed as stated in Section 5(C) and agreed to by the Compensation Committee of the Board,
the additional amounts shall be paid in the same manner as the amount listed in this Section 7(B).

 

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C.       Upon
the signing of this Third Amendment, the Company shall issue the options and warrants owed pursuant to Sections 6(A) and 6(B)
of this Third Amendment.

 

D.       Regardless
of whether the Offering is ever closed, the Company hereby acknowledges that the cash and securities discussed in this Third Amendment
are owed to the Executive as of the Effective Date.

 

E.       Until
the Offering is closed, the Company shall accrue all cash and securities owed to the Executive pursuant to this Third Amendment
as a liability of the Company.

 

8.
Term. The Term of Executive’s employment hereunder will end three (3) years from the Effective Date (the “Term”).
The Term shall automatically renew (the “Renewal Term”) for successive one (1) year terms, unless written notification
terminating the Executive’s employment is provided by either party at least sixty (60) days prior to the expiration of the
Term or the then-current Renewal Term.

 

9.
Monthly Salary. Prior to the closing of the Offering, the Executive’s monthly salary during the Term shall be: (a)
$15,000 in cash compensation; and (b) $15,000 in shares of the Company’s common stock. After the closing of the Offering,
the Executive’s monthly salary during the Term shall be $30,000 of cash compensation. If the Company has positive EBITDA
for a fiscal quarter during the Term, the Executive’s monthly salary shall be $40,000 of cash compensation for as long as
the Company has positive EBITDA as assessed on a quarterly basis.

 

10.
Board Member Compensation. Payment to the Executive of: (i) accrued compensation, if any, for past service on the Board;
and (ii) ongoing compensation, if any, for serving on the Board, will be governed by a separate agreement.

 

11.
Fee Agreement and Consulting Agreement. The Executive hereby agrees that the Fee Agreement and the Consulting Agreement
shall be suspended and no payments shall be due thereunder (other than the payments specifically detailed in this Third Amendment)
for as long as the Executive is a full-time employee of the Company that is due to be paid a monthly salary of at least $30,000.
It is also acknowledged that if ever reinstated the Fee Agreements will include all parties that were ever introduced to the Company
by the Executive for the life of the arrangement.

 

12.
Executive Bonus. Executive will be entitled to a semiannual bonus that will be initiated by the Compensation Committee
for all executives of the Company that will take into consideration hardware sales, EV charging station revenues, revenue growth,
profitability as well as other factors. The Executive will be entitled to the bonus for all parties that were ever introduced
by the Executive to the Company and for the life of the relationship.

 

13.
Stock Payments. The Company hereby agrees that, on a going-forward basis, if the Company is unable to pay any cash amounts
that are owed to the Executive, the Company shall issue an amount of the Company’s common stock (at the closing trading
price per share of the business day prior to the due date of the payment) equal to one and one-half (1.5) times the equivalent
cash amount that would have otherwise been payable to the Executive.

 

14.
Conflicts. In the event that there is a conflict between the provisions of this Third Amendment and the Original Agreement,
the terms stated herein shall prevail. In the event that there is a conflict between the provisions of this Third Amendment and
any of the Affiliate Agreements, the terms stated herein shall prevail.

 

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15.
Counterparts. This Third Amendment may be executed in any number of counterparts, including facsimile and scanned versions,
each of which when so executed shall be deemed an original and all of which shall constitute together one and the same instrument,
and shall be effective upon execution by all of the parties.

 

IN
WITNESS WHEREOF, the parties have executed this Third Amendment to Executive Employment Agreement.

 

	CAR
    CHARGING GROUP, INC. 	 	EXECUTIVE
	 	 	 	 
	By:
    	 	 	 
	 	Andy
    Kinard, President	 	Michael
    D. Farkas

 

    	4June
23, 2017

 

Michael
D. Farkas

 

VIA
ELECTRONIC MAIL

 

Re:
Agreement to Convert –Series A Preferred Stock

 

 Dear
Mr. Farkas :

 

You
are being sent this letter (the “Letter Agreement”) as you are currently the holder of Series A Preferred shares of
Car Charging Group, Inc. (the “Company”). Reference is made to transaction documents entered into by and among Car
Charging Group, Inc. and you pursuant to which you acquired Series A Preferred Stock (the “Transaction Documents”).

 

Our
Current Financing

 

As
you may be aware, the Company is currently in the process of pursuing a public offering of its securities to raise up to $20,000,000
and list its securities onto the NASDAQ (the “Offering”). The Company has filed a registration statement on Form S-1
related to the Offering which is being led by Joseph Gunnar & Co. The registration statement relating to these securities
has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold
nor may offers to buy be accepted prior to the time the registration statement becomes effective. A copy of the preliminary offering
prospectus and registration statement related to the Offering can be found at www.sec.gov and may be obtained by writing to the
Company at 3284 West 29 Court, Hollywood, Florida 33020, attention: CEO. In connection with the Offering and prior to its closing,
the Company will be engaging in a reverse stock split pursuant to which the number of our shares of common stock, par value $0.001
per share (the “Common Stock”), issued and outstanding, will be reduced proportionately based on the reverse stock
split ratio (the “Reverse Split”). The Company believes that attaining and maintaining the listing of our shares of
Common Stock on NASDAQ is in the best interests of our Company and its stockholders, because if listed on NASDAQ, the Company
believes that the liquidity in the trading of its Common Stock could be significantly enhanced, which could result in an increase
in the trading price and may encourage investor interest and improve the marketability of our Common Stock to a broader range
of investors. The Company is therefore contacting you and other holders of the Company’s securities to request they convert
their holdings into Common Stock.

 

What
We Need From You

 

As
of March 31, 2017 our records indicate that you own 10,000,000 Series A Preferred shares which are convertible into 25,000,000
shares of Common Stock. Under the terms of the Series A Preferred Stock Certificate of Designation, as amended, the Reverse Split
will not result in a proportionate adjustment to the conversion ratio of the Series A Preferred Stock. By executing and delivering
this Letter Agreement, you agree that, upon the Company’s implementation of the Reverse Split, your 25,000,000 (as converted)
shares of Common Stock will be reduced to 2,000,000 shares of Common Stock (the “Reverse Split Reduction”).

 

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In
addition, by executing and delivering this Letter Agreement, you agree to accept shares of restricted common stock as described
below as full compensation for all outstanding Series A Preferred shares, and any other amounts owed to you under any compensation
associated with the Transaction Documents or any other agreements not referenced that may provide you with any rights to Series
A Preferred shares.

 

You
hereby agree to automatically convert upon closing of the Offering (the “Automatic Preferred Conversion”), your Series
A Preferred shares into 2,000,000 restricted shares of Common Stock.

 

Upon
the triggering of the Automatic Preferred Conversion, the Company shall send you prompt written notice (the “Automatic Preferred
Conversion Notice”) specifying the date upon which such conversion was effective (the “Effective Date”) and
the number of restricted shares of Common Stock to be issued to you upon conversion. The Automatic Preferred Conversion Notice
will also contain instructions on surrendering to the Company your original Series A Preferred share certificates; provided, however,
the Automatic Preferred Conversion shall be effective on the Effective Date whether or not you surrender your original Series
A Preferred share certificates, which shall be null and void on the Effective Date.

 

By
your agreement and acknowledgment below, this Letter Agreement shall serve as written confirmation that:

 

1. You agree to the terms of the Reverse Split Reduction and the Automatic Preferred Conversion.

  

2. You acknowledge and agree that upon the Automatic Preferred Conversion, the Series A Preferred Stock shall be cancelled. 

  

3. You agree to the following lock-up conditions:

 

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	 	a.	That
    for a period of 270 days beginning on the Effective Date (the “Lock-Up Period”), you will not, without the prior
    written consent of the Underwriter, (1) offer, pledge, sell, contract to sell, grant, lend, or otherwise transfer or dispose
    of, directly or indirectly, any of the 2,000,000 restricted shares of the Common Stock referenced in this Letter Agreement
    (the “Lock-Up Securities”) (for the purpose of clarity, any shares or securities other than the “Lock-Up
    Securities” owned by the holder, are not affected by this Letter Agreement); (2) enter into any swap or other arrangement
    that transfers to another, in whole or in part, any of the economic consequences of ownership of the Lock-Up Securities, whether
    any such transaction described in clause (1) above or this clause (2) is to be settled by delivery of Lock-Up Securities,
    in cash or otherwise; (3) make any demand for or exercise any right with respect to the registration of any Lock-Up Securities;
    or (4) publicly disclose the intention to make any offer, sale, pledge or disposition, or to enter into any transaction, swap,
    hedge or other arrangement relating to any Lock-Up Securities. Notwithstanding the foregoing, and subject to the conditions
    below, you may transfer Lock-Up Securities without the prior written consent of the Underwriter in connection with (a) transactions
    relating to Lock-Up Securities acquired in open market transactions after the completion of the Offering; provided that no
    filing under Section 16(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), shall be required
    or shall be voluntarily made in connection with subsequent sales of Lock-Up Securities acquired in such open market transactions;
    (b) transfers of Lock-Up Securities as a bona fide gift, by will or intestacy or to a family member or trust for the benefit
    of a family member (for purposes of this Letter Agreement, “family member” means any relationship by blood, marriage
    or adoption, not more remote than first cousin); (c) transfers of Lock-Up Securities to a charity or educational institution;
    or (d) if you, directly or indirectly, control a corporation, partnership, limited liability company or other business entity,
    any transfers of Lock-Up Securities to any shareholder, partner or member of, or owner of similar equity interests in such
    entity, as the case may be; provided that in the case of any transfer pursuant to the foregoing clauses (b), (c) or (d), (i)
    any such transfer shall not involve a disposition for value, (ii) each transferee shall sign and deliver to the Underwriter
    a lock up agreement substantially in the form of the lock-up provisions of this Letter Agreement and (iii) no filing under
    Section 16(a) of the Exchange Act shall be required or shall be voluntarily made. You also agree and consent to the entry
    of stop transfer instructions with the Company’s transfer agent and registrar against the transfer of your Lock-Up Securities
    except in compliance with the lock-up provisions of this Letter Agreement.
	 	 	 
	 	b.	If
    (i) during the last 17 days of the Lock-Up Period, the Company issues an earnings release or material news or a material event
    relating to the Company occurs, or (ii) prior to the expiration of the Lock-Up Period, the Company announces that it will
    release earnings results or becomes aware that material news or a material event will occur during the 16-day period beginning
    on the last day of the Lock-Up Period, the restrictions imposed by the lock-up provisions of this Letter Agreement shall continue
    to apply until the expiration of the 18-day period beginning on the issuance of the earnings release or the occurrence of
    such material news or material event, as applicable, unless the Underwriter waives, in writing, such extension.
	 	 	 
	 	c.	You
    agree that, prior to engaging in any transaction or taking any other action that is subject to the terms of the lock-up provisions
    of this Letter Agreement during the initial Lock-Up Period and including the 34th day following the expiration
    of the initial Lock-Up Period, you will give notice thereof to the Company and will not consummate any such transaction or
    take any such action unless you have received written confirmation from the Company that the Lock-Up Period (as may have been
    extended pursuant to the previous paragraph) has expired. 

 

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	 	d.	No
    portion of the lock-up provisions of this Letter Agreement shall be deemed to restrict or prohibit the exercise, exchange
    or conversion by you of any securities exercisable or exchangeable for or convertible into the Shares, as applicable; provided
    that you do not transfer the Shares acquired on such exercise, exchange or conversion during the Lock-Up Period, unless otherwise
    permitted pursuant to the terms of the lock-up provisions of this Letter Agreement. In addition, no provision herein shall
    be deemed to restrict or prohibit the entry into or modification of a so-called “10b5-1” plan at any time (other
    than the entry into or modification of such a plan in such a manner as to cause the sale of any Lock-Up Securities within
    the Lock-Up Period).
	 	 	 
	 	e.	You
    understand that the lock-up provisions of this Letter Agreement are irrevocable and shall be binding upon your heirs, legal
    representatives, successors and assigns.

 

By
signing below, this Letter Agreement shall serve as written confirmation that you have reviewed this Letter Agreement (and consulted
with your legal and tax advisors to the extent you deemed necessary) and agree to the terms and conditions of the Reverse Split
Reduction and the Automatic Preferred Conversion as described herein. Upon the Effective Date, you understand that you will be
releasing and discharging the Company and its affiliates from any and all obligations and duties that such persons may have to
you with respect to your Series A Preferred shares. Notwithstanding anything contained herein, in the event the Offering is not
consummated on or before October 2, 2017, this Letter Agreement will terminate and the Automatic Preferred Conversion shall not
take place.

 

This
Letter Agreement contains the entire understanding between and among the parties and supersedes any prior understandings and agreements
among them respecting the subject matter of this Letter Agreement. In addition, you hereby represent that you meet the requirements
of at least one of the suitability standards for an “accredited investor” as that term is defined in Regulation D
promulgated under the Securities Act of 1933, as amended and that you have had the opportunity to obtain any additional information,
to the extent the Company has such information in its possession or could acquire it without unreasonable effort or expense, necessary
in connection with the matters set forth in this Letter Agreement including, without limitation, information concerning the financial
condition, results of operations, capitalization and business of the Company deemed relevant by you or your advisors, if any,
and all such requested information, to the extent the Company had such information in its possession or could acquire it without
unreasonable effort or expense, has been provided to your full satisfaction.. This Letter Agreement shall be governed by and construed
in accordance with the laws of the State of Nevada without regard to choice of law principles. This Letter Agreement may be executed
in any number of counterparts, each of which shall be an original but all of which together shall constitute one and the same
instrument. In case any provision of this Letter Agreement shall be held to be invalid, illegal or unenforceable, such provision
shall be severable from the rest of this Letter Agreement, and the validity legality and enforceability of the remaining provisions
shall not in any way be affected or impaired thereby.

 

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This
Letter Agreement evidences waiver by the undersigned with respect to any and all defaults or events of default by the Company
with respect to any failure by the Company to comply with any covenants contained in the Transaction Documents.

 

The
parties hereby consent and agree that if this Letter Agreement shall at any time be deemed by the parties for any reason insufficient,
in whole or in part, to carry out the true intent and spirit hereof or thereof, the parties will execute or cause to be executed
such other and further assurances and documents as in the reasonable opinion of the parties may be reasonably required in order
more effectively to accomplish the purposes of this Letter Agreement.

 

***REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK***

 

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Please
indicate confirmation of the terms provided herein by executing and returning this Letter Agreement in the space provided below.

 

	 	Very truly yours,
	 	 
	 	CAR CHARGING GROUP, INC.
	 	 	 
	 	By:
    	 
	 	Name:	Michael
    J. Calise
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	Date:
    	________________

 

ACCEPTED
AND AGREED:

 

MICHAEL
D. FARKAS

 

___________________________

Date:
_____________________

 

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