Document:

Unassociated Document

    FOURTH
      AMENDMENT TO LEASE AGREEMENT

     

    

    THIS
      FOURTH AMENDMENT TO LEASE AGREEMENT
      (the "
      Fourth Amendment") is dated the _______ day of February, 2006, by and between
      FORT
      LAUDERDALE CROWN CENTER, INC.,
      a
      Florida corporation (hereinafter referred to as "Landlord") and FUSION
      TELECOMMUNICATIONS INTERNATIONAL, INC.,
      a
      Delaware corporation (hereinafter referred to as "Tenant").

     

    WITNESSETH:

     

    WHEREAS,
      Landlord and Tenant entered into that certain Lease Agreement dated on or about
      October, 1999 (the "Original Lease"), for approximately 13,502 rentable square
      feet (the "Original Premises") located on the second (2nd)
      floor
      in Suite 220 of that certain building known as the "Crown Center" located at
      1415 Cypress Creek Road, Fort Lauderdale, Florida 33309 (the "Original
      Building"); and

     

    WHEREAS,
      the
      Original Lease was amended by (i) that certain Amendment Number One to Lease
      Agreement dated December 19, 1999 (the "First Amendment"), and (ii) that certain
      Second Amendment to Lease Agreement dated April 24, 2003 (the "Second
      Amendment"); and 

     

    WHEREAS,
      Landlord and Tenant entered into that certain Third Amendment to Lease dated
      April 28, 2004 (the “Third Amendment”) to, inter alia, relocate the Original
      Premises to the premises containing approximately 9,716 rentable square feet
      located on the second floor in Suite 204 of the "Crown Center" building located
      at 1475 Cypress Creek Road, Fort Lauderdale, Florida 33309; and

     

    WHEREAS,
      the
      Original Lease as amended by the First Amendment, the Second Amendment, and
      the
      Third Amendment shall be collectively hereinafter referred to as the "Lease";
      and 

     

    WHEREAS,
      Landlord and Tenant desire to enter into this Fourth Amendment to expand the
      Premises, extend the Term, and otherwise amend the Lease as hereinafter set
      forth.

     

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

     

    1. Recitals.
      The
      foregoing recitations are true and correct and are incorporated herein by this
      reference.

     

    2. Conflict.
      In
      the
      event of any conflict between the provisions of the Lease and the provisions
      of
      this Fourth Amendment, the provisions of this Fourth Amendment shall control.
      The initial capitalized terms used herein shall have the same meaning given
      such
      terms in the Lease, unless otherwise defined herein or unless the context
      otherwise indicates.

     

    3. Expansion
      of Premises.
      Effective upon the date that Landlord substantially completes the Tenant
      Improvements (as hereinafter defined) and delivers the Expansion Premises (as
      hereinafter defined) to Tenant (“Expansion Premises Commencement Date”), and
      throughout the Lease Term, the Premises shall be expanded to include an
      additional 3,433 rentable square feet on the second (2nd) floor of the Building,
      as depicted on Exhibit “A” attached hereto and made a part hereof (the
“Expansion Premises”). Landlord shall use its best efforts to deliver the
      Expansion Premises to Tenant on or before May 1, 2006; provided, however, that
      Tenant expressly acknowledges and agrees that (i) the foregoing estimate may
      be
      affected by factors beyond Landlord’s control, including, without limitation,
      delays in obtaining necessary building permits, and (ii) that Landlord shall
      have no liability to Tenant and that Landlord shall not be in default under
      the
      Lease if, in spite of Landlord’s best efforts, Landlord does not deliver
      possession of the Expansion Premises to Tenant on or before May 1, 2006.
      Thereafter, the Premises shall be modified to mean 13,149 rentable square feet
      of space consisting of the Premises, as expanded by the Expansion Premises,
      and
      all references in the Lease to the term “Premises” shall refer to the Premises,
      including the Expansion Premises. The Expansion Space is subject to all of
      the
      terms and conditions of the Lease, as amended.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4. Condition
      of Expansion Premises.
      Landlord
      shall not be responsible for the renovation, construction or installation of
      any
      leasehold improvements relating to the Expansion Premises, except as expressly
      hereinafter set forth. Tenant acknowledges that Landlord has not made any
      representations or warranties with respect to the condition of the Expansion
      Premises and neither Landlord nor any assignee of Landlord shall be liable
      for
      any latent defect therein. The taking of possession of the Expansion Premises
      by
      Tenant shall be conclusive evidence that the Expansion Premises was in good
      and
      satisfactory condition at the time such possession was taken. Landlord shall
      perform the improvements to the Expansion Premises shown on Exhibit “B” attached
      hereto (the “Tenant Improvements”). All work will be scheduled by Landlord
      during normal business hours on normal business days in cooperation with Tenant
      in a manner as to not inconvenience other tenants of the Building. If
      applicable, Tenant shall be responsible for the movement of any of its equipment
      and furniture necessary to accommodate Landlord’s work schedule. Landlord and
      its contractor assume no liability for Tenant’s equipment, furniture or other
      personal property at the Expansion Premises during the construction of the
      Tenant Improvements and Tenant shall hold Landlord, its contractors and their
      respective agents and employees (“Landlord’s Indemnified Parties”) harmless and
      indemnify same from and against any damage or injury relating to Tenant’s
      equipment, furniture or personal property left in the Expansion Premises during
      the construction of the Tenant Improvements, unless caused by the willful
      misconduct of the Landlord’s Indemnified Parties.

    

    5. Extended
      Term.
      The Term
      of the Lease shall be extended for a period of eight (8) years from the
      Expansion Premises Commencement Date (the "Extended Term"), and shall expire
      at
      midnight (Eastern Standard Time) on the date immediately preceding the eighth
      (8th)
      anniversary of the Expansion Premises Commencement Date (the "Extended
      Expiration Date"), and all references in the Lease to the Expiration Date of
      the
      Term of the Lease shall hereafter be deemed to refer to the Extended Expiration
      Date. Notwithstanding anything set forth in the Lease to the contrary, Tenant
      shall not have any right or option to extend the Term beyond the Extended
      Expiration Date, except as hereinafter expressly set forth in this Fourth
      Amendment. 

     

    6. Base
      Rent.
      From
      the Expansion Premises Commencement Date through June 30, 2006, Tenant shall
      pay
      Base Rent to Landlord, plus applicable sales tax thereon, as follows:

    

    
      	
              Period

            	
              Base
                Rent per RSF 

              per
                Annum

            	
              Monthly
                Base Rent 

              Payments
                (not 

              including
                sales tax)

            
	
              Expansion
                Premises Commencement Date through June 30, 2006

            	
              $11.96

            	
              $13,105.17

            

    

    

    Commencing
      on July 1, 2006, and on each anniversary thereof during the Extended Term,
      Base
      Rent shall increase by four percent (4%). 

     

    7. Tenant’s
      Proportionate Share.
      Effective as of the Expansion Premises Commencement Date and throughout the
      Extended Term of the Lease, Tenant shall continue to pay to Landlord, in the
      form of Additional Rent, plus applicable sales tax thereon, Tenant's
      Proportionate Share of the Operating Expenses of the Building and the Property
      for the applicable calendar year in accordance with the terms of the Lease.
      Upon
      the Expansion Premises Commencement Date and throughout the Extended Term,
      Tenant's Proportionate Share shall be modified to mean 19.17% (to wit:
      13,149/68,608 x 100). 

     

    8. Parking.
      Effective
      as of the Expansion Premises Commencement Date, Article VI of the Lease shall
      be
      deleted in its entirety and the following shall be inserted in lieu
      thereof:

     

    "There
      shall be available at the Building up to four (4) parking spaces for each 1,000
      square feet of rentable square feet contained in the Premises (to wit: fifty-two
      (52) nonreserved spaces), for the nonexclusive use of Tenant, free of charge.
      Seven (7) covered parking spaces of these fifty-two (52) parking spaces will
      be
      designated reserved for Tenant and located in an area as reasonably designated
      by Landlord."

     

    9. Right
      of First Refusal.
      Section
      17 of the Third Amendment is hereby deleted in its entirety and the following
      is
      inserted in lieu thereof:

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    “Provided
      Tenant is not in default of the Lease and is still occupying the Premises,
      Landlord shall grant Tenant one (1) right of first refusal on any space located
      on the second (2nd) floor of the Building (“First Refusal Space”), subject to
      the rights of existing tenants to such space. The exercise of Tenant’s right of
      first refusal shall be accomplished as follows: Within five (5) days of Landlord
      entering into a signed letter of intent with a prospective tenant for the First
      Refusal Space, Landlord shall provide Tenant with written notice of the same,
      which notice shall include all of the business terms of such proposed lease
      (“Landlord’s Notice”). Tenant shall have seven (7) days after receipt of
      Landlord’s Notice to either accept all of the terms contained in Landlord’s
      Notice or reject the offer contained in Landlord’s Notice. Tenant’s failure to
      respond within such time period shall be deemed a waiver of Tenant’s right of
      first refusal. If Tenant accepts such offer, Landlord and Tenant shall
      thereafter execute an amendment to the Lease expanding the Premises to include
      the First Refusal Space upon the terms and conditions contained in Landlord’s
      Notice. If Tenant rejects the offer, Landlord shall have the right to lease
      the
      First Refusal Space to any other tenant (or third party) without regard to
      the
      Lease or Tenant’s rights thereunder. Time is of the essence with regard to the
      notifications in this section.” 

    

    10. Option
      to Renew.
      Provided
      Tenant is not currently in default of any provision of this Lease, and Tenant
      is
      still occupying the Premises, Landlord shall grant Tenant one (1) five-year
      option to renew the Lease (“Option to Renew”) at the conclusion of the Extended
      Term as to the entire Premises only. Tenant shall notify Landlord of Tenant’s
      intent to exercise its Option to Renew no later than nine (9) months prior
      to
      the expiration of the Extended Term, with time being of the essence as to this
      notification period. The Base Rent during the renewal term shall equal the
      then
      prevailing market rate for comparable buildings in the market in which the
      Building is located. Notwithstanding anything to the contrary herein, Base
      Rent
      for the renewal term shall in no event be less than the Base Rent payable under
      the Lease during the last year of the Extended Term. Within thirty (30) days
      after Tenant notifies Landlord of its intent to exercise its Option to Renew,
      Landlord shall determine the then prevailing market rate for comparable
      buildings in the market in which the Building is located and shall notify Tenant
      of the prevailing market rate.

    

    The
      then
      prevailing market rate, as determined in accordance with this Section,
      multiplied by the rentable square feet of the Premises, shall be the annual
      Base
      Rent for the Premises for the first year of the renewal term, payable in advance
      and without notice, in equal monthly installments, commencing on the first
      day
      of the renewal term and continuing on the first day of each and every calendar
      month thereafter during the first year of the renewal term. Commencing with
      the
      first month of the second year and each successive year throughout the renewal
      term thereafter, the annual Base Rent shall be increased over the annual Base
      Rent for the previous year by four percent (4%).
      

    

    11. Broker.
      The
      parties represent and warrant to each other that they have not dealt with any
      real estate brokers, salesmen, or finders in connection with this Fourth
      Amendment other than Commercial Property Realty Advisors, LLC (the “Broker”).
      Landlord shall be responsible to pay a commission to the Broker in accordance
      with a separate agreement between Landlord and Broker. Other than the Broker,
      if
      a claim for commission in connection with this transaction is made by any
      broker, salesmen, or finder claiming to have dealt through on behalf of one
      of
      the parties hereto, such party shall indemnify, defend and hold the other party
      hereunder harmless from and against all liabilities, damages, claims, costs,
      fees and expenses (including reasonable attorney's fees and court costs at
      trial
      and all appellate levels) with respect to said claim for brokerage.

     

    12. Choice
      of Law.
      This
      Fourth Amendment shall be construed and interpreted in accordance with the
      laws
      of the State of Florida, contains the entire agreement of the parties hereto
      with respect to the subject matter hereof, and may not be changed or terminated
      orally or by course of conduct, or by any other means except by a written
      instrument, duly executed by the party to be bound thereby. This Fourth
      Amendment shall inure to the benefit of and shall be binding upon the parties
      hereto and their respective successors and assigns.

     

    13. Ratification.
      Except
      as
      modified hereby, the Lease shall remain in full force and effect in accordance
      with the terms and provisions thereof and Tenant hereby ratifies and affirms
      all
      of the terms and conditions thereof.

     

    14. Counterparts.
      This
      Amendment may be executed in several counterparts, each of which shall be fully
      effective as an original and all of which together shall constitute one and
      the
      same instrument. Signature pages may be detached from the counterparts and
      attached to a single copy of this document to physically form one
      document.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    15. Authority.
      Each
      party hereto warrants and represents that it has the authority to enter into
      this Fourth Amendment without the joinder of any other party; that the person
      executing this Fourth Amendment of its behalf is authorized to do so; and that
      this Fourth Amendment is valid, binding and enforceable against such party.
      

    

     

    IN
      WITNESS WHEREOF,
      the
      undersigned have executed this Fourth Amendment as of the date first above
      written.

     

    
      	 	 	
              "LANDLORD"

            
	 	 	 
	
              WITNESS:

            	 	
              FORT
                LAUDERDALE CROWN CENTER, INC.,
                a
                Florida corporation

            
	 	 	 
	  
	 	  

	
              Print
                Name: __________________________________

               

              Print
                Name: __________________________________

            	 	
              By:
                __________________________________

              Print
                Name: ____________________________

              Title:
                _________________________________

            
	 	 	 
	 	 	
              "TENANT"

            
	 	 	 
	
              WITNESS:

            	 	
              FUSION
                TELECOMMUNICATIONS INTERNATIONAL, INC.,
                a
                Delaware corporation 

            
	 	 	 
	  
	 	By:
	
              Print
                Name: __________________________________

               

              Print
                Name: __________________________________ 

            	 	
              Print
                Name: _____________________________

              Title:
                __________________________________

            

    

    

    
      
        
        

      

      
        4Unassociated Document

    Amendment
      to Stock Purchase Agreement 

     

    This
      Amendment to the Stock Purchase Agreement dated
      as
      of March 24, 2006 (this “Amendment”),
      is
      entered into by and between Karamco,
      Inc. (“Karamco”), Efonica, FZ-LLC (“Efonica or Company”) and Fusion
      Telecommunications International, Inc. (“Fusion”).

     

    RECITALS:

     

    A.  Fusion,
      Efonica and Karamco have entered into that certain Stock Purchase Agreement
      dated January 11, 2005, as amended on February 9, 2005, May 12, 2005 and
      November 2, 2005 (the “Agreement”),
      pursuant to which Fusion purchased all of Karamco’s shares of Efonica, FZ-LLC
      (the “Company”).

     

    B.  At
      the
      present time, Fusion, Efonica and Karamco
      request, and all are agreeable to amend the Agreement, subject to the terms
      and
      conditions hereinafter set forth.

     

    Now,
      Therefore,
      in
      consideration of the premises and other good and valuable consideration, the
      receipt and adequacy of which are hereby acknowledged, Fusion, Efonica and
      Karamco hereby agree as follows:

     

    AGREEMENTS:

     

    1.  RECITALS.
      The
      foregoing Recitals are hereby made a part of this Amendment.

     

    2.  DEFINITIONS.
      Capitalized words and phrases used herein without definition shall have the
      respective meanings ascribed to such words and phrases in the
      Agreement.

     

    3.  AMENDMENT
      TO AGREEMENT.
      Section
      1 of the Agreement is hereby amended in its entirety to read as
      follows: 

     

    “SECTION

    1

    

    PURCHASE
      AND SALE OF THE SHARES

    

     1.1
      Purchase and Sale. Upon the terms and subject to the conditions of this
      Agreement, at the Closing (as defined below), Karamco agrees to sell to Buyer,
      and Buyer agrees to purchase from Karamco, the number of Shares owned by
      Karamco, as set forth opposite its name on Schedule 1 hereto 249 Shares). The
      aggregate purchase price for the Shares (the "Final Purchase Price") shall
      be
      set forth and payable as expressed on Section 1.2.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    1.2 Purchase
      Price 

     

    Base
      Purchase Price. The base purchase price for the Shares (the "Base Purchase
      Price") shall be NINE
      MILLION SEVEN HUNDRED EIGHTY FIVE THOUSAND SEVEN HUNDRED
      ($9,785,700) DOLLARS
      subject
      to adjustment pursuant to Section 1.2(C)(vii) and Section 8 of the Agreement,
      and payable as set forth in Section 1.2(C).

    

    C. Payment
      at Closing. At Closing, Buyer shall deliver to Karamco:

    

    (i) Stock. 1,439,463
      shares of Buyer’s common stock (the aggregate number of Shares under this
      Section shall be referred to as the “Base Shares”); 

    (ii) Escrow.
      Buyer’s attorney (the “Escrow Agent”) shall hold 675,581 shares of the Base
      Shares (not to include the Registered Stock) in escrow (the “Escrowed Stock”)
      and subject to an Escrow Agreement between the parties and the Escrow Agent,
      a
      form of which is attached hereto as Exhibit “D”. The Escrowed Stock will be
      subject to adjustment pursuant to Section 1.2(C)(vi); 

    

    (iii) Cash
      Payment. Within three (3) days of the Closing, Buyer will pay Karamco an amount
      equal to FIVE HUNDRED THOUSAND ($500,000.00) DOLLARS;”

    

    (iv)
      (a)
      Registration. Buyer shall use its reasonable efforts to cause 150,000 shares
      of
      the Base Shares to be registered (the “Registered Shares”) within 60 days of the
      Buyer’s initial public offering , unless said date is extended with Karamco’s
      consent. The date the Registered Shares are effectively registered shall be
      defined as the “Registration Date.” Fusion shall use its best efforts to keep
      the registration statement covering the Registered Shares (the “Registration
      Statement”) effective for the period set forth in this section (iv) (a).
      Following registration, Karamco may sell up to an aggregate of $1 million in
      Registered Shares in transactions (including block transactions) that may take
      place in the over-the-counter market or an exchange including ordinary broker
      transactions, privately negotiated transaction or through sales to one or more
      dealers for resale as principals (1/2 of the Registered Shares on the
      Registration Date and the remaining 1/2 on May 15, 2005). In the event Buyer
      is
      unable to cause the Registered Shares to be registered as set forth above,
      Buyer
      shall purchase the Registered Shares from Karamco (in the amount Karamco would
      have been otherwise able to sell as set forth above) at the higher of the IPO
      price or the average 5 day bid price prior to the date Buyer notifies Karamco
      that it is unable to cause the registered Shares to be registered. In the event
      that Karamco’s aggregate gross proceeds of a sale of the Registered Shares as
      set forth in this Section 1.2C(iv)(a), in the aggregate, and within 635 days
      following the effective date of the Registration Statement, does not equal
      $1,000,000, the Buyer shall pay Karamco the difference between the aggregate
      gross proceeds of Karamco’s sale of the Registered Shares and $1,000,000 (the
“Difference Payment”). On April 25, 2005, Fusion made a payment of $150,000 to
      Karamco and on May 12, 2005 made a payment of $175,000 and on the date hereof,
      will make an additional payment of $105,000 which payments ($430,000 in the
      aggregate) shall be deducted from the Difference Payment owed. In the event
      that
      the Difference Payment owed, pursuant to this Section 1.2(C)(iv)(a) of the
      Agreement, is less than $430,000, Karamco shall immediately reimburse Fusion
      for
      such excess. The Company retains the right to advance additional funds in its
      sole discretion. 

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    (b)
      Karamco’s Obligation to reimburse Fusion for any excess shall be secured by
      50,387 shares (the “Escrowed Shares”) of Fusion’s common stock owned by Karamco.
      Upon execution of this Agreement, Karamco will deliver the Escrowed Shares
      to
      the Escrow Agent until such excess is repaid.

    

    (v) Lock-Up.
      The unregistered Base Shares issued to Karamco will be subject to a lock-up
      for
      a one year period following the effective date of the IPO (“Lock-Up Period”).
      Karamco agrees to execute an agreement to that effect in the form attached
      hereto as Exhibit “B” (the “Lock-Up Agreement”). In the event a significant
      shareholder (owner of 5% or more of the issued and outstanding common stock
      (“Significant Shareholder”)) is allowed to register all or a portion of his
      common stock prior to the expiration of the Lock-Up Period, Karamco will be
      allowed to register its shares on a pro rata basis (will be allowed to sell
      the
      same % of shares the Significant Shareholder sells). If any Significant
      Shareholder shall receive and determine to accept any bona fide offer from
      a
      third party (the "Offeror") to purchase all or substantially all of such
      Significant Shareholders' Shares “a "Tag-Along Offer") prior to expiration of
      the Lock-Up Period, Karamco shall have the right to participate in such
      transaction in the manner set forth in this Section.  The Significant
      Shareholders shall, promptly after receipt of a Tag-Along Offer, send a copy
      thereof or a summary of the terms of any offer to Karamco.  Karamco shall
      have the right to cause the Significant Shareholder(s) to condition his or
      their
      sale of Shares to an Offeror on the sale of all, or a pro-rata amount (equal
      to
      the percentage of the selling Significant Shareholder), of Shares of Karamco
      to
      Offeror (the "Tag-Along Shareholder").  The purchase price and payment
      terms for the Shares of the Tag-Along Shareholder shall be the same price per
      Share and same payment terms for the Shares as the Significant Shareholders'
      Shares and as set forth in the Tag-Along Offer.  Should Karamco choose to
      participate in a sale of Shares pursuant to this Section, it shall pay its
      proportionate share of any expenses attributable to the sale of Shares
      hereunder. In the event Karamco sells any stock prior to expiration of the
      Lock-Up Period, it shall cause the purchaser to be bound by the Lock-up
      Agreement.

    (vi) Post
      Closing Adjustments.  On
      the
      date hereof, the Escrow Agent shall release the Escrow Shares to Karamco. The
      released shares shall be subject to a lock -up until February 15, 2007, and
      Karamco agrees to execute a Lock - Up Agreement to that effect as a condition
      of
      such release. 

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    (vii) Limitation
      on Sale Following Lock-Up Period. The Lock-Up Agreement will further provide
      after the Lock-Up Period sales by the Stockholder shall be subject to Rule
      144.
      Both parties acknowledge that the holding period for Karamco’s unregistered
      shares commences at the time of closing.”

     

    4.  REPRESENTATIONS
      AND WARRANTIES.
      To
      induce Karamco to enter into this Amendment, Fusion hereby certifies, represents
      and warrants to Karamco that:

     

    4.1  Authorization.
      It is
      duly authorized to execute and deliver this Amendment and is and will continue
      to perform its obligations under the Agreement, as amended hereby.

     

    4.2  No
      Conflicts.
      The
      execution and delivery of this Amendment
      and the performance by Fusion of its obligations under the Agreement, as amended
      hereby, do not and will not conflict with any provision of law or of the
      articles of incorporation or bylaws/articles of organization or operating
      agreement, as applicable, of Fusion or of any agreement binding upon
      Fusion.

     

    4.3  Validity
      and Binding Effect.
      The
      Agreement, as amended hereby, is a legal, valid and binding obligation of
      Fusion, enforceable against Fusion in accordance with its terms, except as
      enforceability may be limited by bankruptcy, insolvency or other similar laws
      of
      general application affecting the enforcement of creditors’ rights or by general
      principles of equity limiting the availability of equitable
      remedies.

     

    5.  GENERAL.

     

    5.1  Governing
      Law; Severability.
      This
      Amendment shall be construed in accordance with and governed by the laws of
      the
      State of New York. Wherever possible each provision of the Agreement and this
      Amendment shall be interpreted in such manner as to be effective and valid
      under
      applicable law, but if any provision of the Agreement and this Amendment shall
      be prohibited by or invalid under such law, such provision shall be ineffective
      to the extent of such prohibition or invalidity, without invalidating the
      remainder of such provision or the remaining provisions of the Agreement and
      this Amendment.

     

    5.2  Successors
      and Assigns.
      This
      Amendment shall be binding upon Fusion, Efonica and Karamco and their respective
      successors and assigns.

     

    5.3  Continuing
      Force and Effect of the Agreement.
      Except
      as specifically modified or amended by the terms of this Amendment, all other
      terms and provisions of the Agreement are incorporated by reference herein,
      and
      in all respects, shall continue in full force and effect. Fusion, by execution
      of this Amendment, hereby reaffirms, assumes and binds itself to all of the
      obligations, duties, rights, covenants, terms and conditions that are contained
      in the Agreement 

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    5.4  Expenses.
      Fusion
      shall pay all costs and expenses in connection with the preparation of this
      Amendment. 

     

    4.5 Counterparts.
      This
      Amendment may be executed in any number of counterparts, all of which shall
      constitute one and the same agreement.

     

    In
      Witness Whereof,
      the
      parties hereto have executed this Amendment to the Stock Purchase Agreement
      as
      of the date first above written.

    

    
      	 	Fusion
              Telecommunications International, Inc. 
	 	By: _______________________
	 	 	Name: _______________
	 	 	Title:  
              _______________
	 	 	 
	 	Karamco,
              Inc. 
	 	By: ________________________
	 	 	Name: ________________ 
	 	 	Title:  
              ________________
	 	 	 
	 	Efonica,
              FZ-LLC
	 	By: ________________________
	 	 	Name: ________________  
	 	 	Title:  
              ________________ 

    

     

     

    
      
        
        

      

      
        5

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