Document:

Exhibit 10.26

 

SHARE EXCHANGE AGREEMENT

 

by and between

 

PARETEUM CORPORATION

 

and

 

ARTILIUM, PLC

 

DATED AS OF OCTOBER 16, 2017

 

     

     

    

 

SHARE EXCHANGE AGREEMENT

 

This Share Exchange Agreement (this “Agreement”)
is made and entered into as of the 16th day of October, 2017 (“Agreement Date”), by and between Pareteum
Corporation., a Delaware corporation (“TEUM”) and Artilium, PLC, a public limited company incorporated under
the laws of England and Wales with registered number 03904535 (“ARTA”). TEUM and ARTA are referred to
herein individually as a “Party” and jointly as the “Parties.”

 

PREAMBLE

 

WHEREAS, pursuant
to the terms and subject to the conditions of this Agreement, TEUM desires to issue and sell to ARTA, and ARTA desires to acquire
from TEUM 3,200,332 shares of common stock of $0.0001 each in the capital of TEUM (the “TEUM Shares”), notionally
valued at USD $1.26 per share, in exchange for 27,695,177 newly issued ordinary shares of £0.05 each in the capital of ARTA
(the “ARTA Shares”) notionally valued at GBP £0.11 each. The TEUM Shares and the ARTA Shares are at times
collectively referred to herein as the “Exchange Securities.”

 

WHEREAS, the obligation
of the Parties to effect the Exchange is subject to the conditions set forth in Article V hereof.

 

WHEREAS, the Parties
concurrently with the execution of this Agreement will execute a Strategic Partnership Agreement for the mutual pursuit of joint
commercial opportunities.

 

NOW, THEREFORE,
in consideration of the premises and the mutual covenants, representations and warranties contained herein, the Parties hereto,
intending to be legally bound, hereby agree as follows:

 

CERTAIN DEFINITIONS

 

In addition to the terms
defined elsewhere in this Agreement the following terms have the meanings set forth below:

 

“Affiliate” means any Person
that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a
Person as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Applicable Law” means any
domestic or foreign law, statute, regulation, rule, policy, guideline or ordinance applicable to the businesses of the Parties,
the Exchange (as defined in Section 1.1 of this Agreement) and/or the Parties.

 

“ARTA Ordinary Shares” means
the ordinary shares of £0.05 each in the capital of ARTA.

 

“Board of Directors” means
the board of directors of TEUM or ARTA, as appropriate.

 

“Business Day” means any
day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking
institutions in the State of New York and/or in the City of London are authorized or required by law or other governmental action
to close.

 

“Closing” means the closing
of the exchange of the TEUM Shares and the ARTA Shares pursuant to Section 1.2.

 

“Closing Date” means the
Business Day on which all of the Transaction Documents have been executed and delivered by the applicable parties thereto, and
all conditions precedent to (i) ARTA’s obligations to issue the ARTA Shares as payment and (ii) TEUM’s obligations
to deliver the TEUM Shares, in each case, have been satisfied or waived, but in no event later than the third Business Day following
the date hereof.

 

     

     

    

 

“Commission” means the United
States Securities and Exchange Commission.

 

“Consents” means consents,
authorization, approvals, actions, waivers and similar writings.

 

“Contract”
means any contract, mortgage, indenture, lease, sublease, note, bond, deed of trust, license, sublicense, purchase order, sales
order, undertaking, understanding, plan, commitment, arrangement, instrument, or other agreement, oral or written, formal or informal.

 

“Document” means any Contract,
financial statement, registration, certificate (including officer’s certificates), application, other writing or other document.

 

“GAAP” means generally accepted
accounting principles in the United States of America as promulgated by the American Institute of Certified Public Accountants
and the Financial Accounting Standards Board or any successor institutes concerning the treatment of any accounting matter.

 

“IFRS” means the standards
and interpretations adopted by the International Accounting Standards Board (“IASB”), including (i) the International
Financial Reporting Standards issued by the IASB, (ii) the International Accounting Standards originally issued by the International
Accounting Standards Committee, in the form adopted by the IASB (iii) the final interpretations issued by the International Financial
Reporting Interpretations Committee and (iv) the final interpretations issued by the Standing Interpretations Committee, consistently
applied, as in effect at the date of such financial statements or information to which it refers.

 

“Governmental Authority”
means any United Kingdom, United States and/or foreign federal, state, local or other governmental authority of any kind or nature,
including any department, subdivision, commission, board, bureau, regulatory agency, agency or instrumentality thereof, any court
and any administrative agency, and any comparable body performing any governmental functions.

 

“Indemnifiable Claim” means
any claim or other Proceeding with respect to which an Indemnitee may be entitled to indemnification or damages under this Agreement.

 

“Indemnitee” means the Party
or other Person seeking indemnification or damages pursuant to this Agreement.

 

“Indemnitor” means the Party
that is required or requested to provide indemnification or damages pursuant to this Agreement.

 

“Law” means, as to any Person,
the certificate of incorporation and by-laws, and any statute, rule, regulation, ordinance, code, guideline, law, judicial decision,
determination, order (including any injunction, judgment, writ, award or decree) or Consent of a court, other Governmental Authority
or arbitrator, in each case applicable to or binding upon such Person, including the conduct of its business, or any of its assets
or revenues or to which such Person or any of its assets or revenues are subject.

 

“Liabilities” means any
liabilities, commitments or other obligations of any kind or nature whatsoever, accrued, fixed, contingent or otherwise, liquidated
or unliquidated, direct or indirect, choate or inchoate, determined, determinable or non-determinable, due or to become due.

 

“Losses” means
any and all Liabilities, losses, claims (including allegations), demands, other Proceedings, damages, deficiencies, assessments,
judgments, fines, penalties, reasonable costs (including remediation, renewal or response costs, and costs of investigation), and
reasonable expenses (including reasonable legal fees and expenses, including reasonable legal fees and expenses incurred in the
enforcement of the obligations under Section 6.1 or Section 6.2).

 

    	 	- 2 -	 

     

    

 

“Material Adverse Effect”
means a material adverse effect upon the businesses, operations, results of operations, assets, condition (financial or otherwise)
of TEUM or ARTA (when taken as a combined whole).

 

“Person” means any individual,
corporation, partnership, limited liability company, trust, association, Governmental Authority or any other entity.

 

“Proceedings” means any
claims, controversies, demands, actions, lawsuits, investigations, proceedings or other disputes, formal or informal, including
any by, involving or before any arbitrator or any Governmental Authority.

 

“Securities Act” means the
Securities Act 1933, as amended or supplemented from time to time, in the United States.

 

“Subsidiaries” means the
subsidiaries of TEUM listed in its SEC Reports (as defined below) or ARTA as the case may require.

 

“Taxes” means any and all
taxes or assessments of any kind or nature whatsoever, whether imposed in the United Kingdom, the United States or elsewhere in
the world, including any and all income, franchise, gross receipts, sales, alternative, add-on, minimum, employment, real property,
personal property, business, capital stock, use and occupancy, ad valorem, transfer, license, excise, stamp, other transfer,
estimated, withholding, service, payroll and recording taxes and any related penalties, charges, interest and other additions thereto.

 

“TEUM Common Stock” means,
at any applicable point in time, the issued and outstanding shares of common stock of $0.0001 TEUM.

 

“Trading Market” means the
principal trading market on which the shares of TEUM or ARTA, as the case may be, are traded.

 

“Transaction Documents”
means this Agreement, any documents appended hereto as an Exhibit and all agreements, documents and instruments executed and delivered
pursuant thereto.

 

ARTICLE I

THE EXCHANGE

 

1.1         The
Exchange. On the Closing Date, subject to the terms and conditions set forth in this Agreement, substantially concurrent with
the execution and delivery of this Agreement by the parties hereto, TEUM hereby agree to issue and deliver to ARTA, with full title
guarantee, and ARTA shall acquire and accept from TEUM, 3,200,332 TEUM Shares and in exchange, ARTA shall issue and deliver 27,695,177
ARTA Shares to TEUM (the “Exchange”). The Parties shall deliver the other items set forth in Sections 1.3 and
1.4, deliverable at the Closing.

 

1.2         Closing
and Effective Time. Upon satisfaction of the covenants and conditions set forth in Articles IV and V, the Closing of the issuance
by TEUM of the TEUM Shares and the issuance by ARTA of the ARTA Shares shall be deemed to take place at the offices of Sichenzia
Ross Ference Kesner LLP not later than three Business Days after all of the conditions to closing specified in this Agreement (other
than those conditions requiring the execution or delivery of a Document or the taking of some action at the Closing) have been
fulfilled or waived by the Party entitled to waive that condition; provided, however, that (a) the Parties shall use their best
efforts to effect the Closing by 16:00 Eastern Standard Time on Monday October 16, 2017, and (b) the Closing may take place by
facsimile or other means as may be mutually agreed upon in advance by the Parties.

 

    	 	- 3 -	 

     

    

 

1.3         Deliveries
at Closing by TEUM. At the Closing, subject to the terms and conditions of this Agreement, TEUM shall execute and/or deliver
(as applicable), or cause to be executed and/or delivered, to ARTA:

 

(a)          this
Agreement duly executed by TEUM;

 

(b)
       a letter of instruction to TEUM’s transfer agent instructing such transfer
agent to issue certificates evidencing the TEUM Shares in the name of ARTA; and

 

(c)          such
other Documents as may be reasonably requested by ARTA and approved in good faith by TEUM’s Board of Directors and TEUM’s
counsel, that are necessary to effect the Closing.

 

1.4         Deliveries
at Closing by ARTA. At the Closing, subject to the terms and conditions of this Agreement, ARTA shall execute and deliver or
cause to be executed and delivered to TEUM:

 

(a)          this
Agreement duly executed by ARTA;

 

(b)
       a letter of instruction to ARTA’s transfer agent instructing such transfer
agent to issue certificates evidencing the ARTA Shares in the name of TEUM; and

 

 

(b)          
such other Documents as may be reasonably requested by TEUM and approved in good faith by ARTA’s
Board of Directors and ARTA’s counsel, that are necessary to effect the Closing.

 

1.5         Restrictions
on Resale. None of the TEUM Shares will be registered under the Securities Act, or the securities laws of any state, and the
TEUM Shares cannot be transferred, hypothecated, sold or otherwise disposed of until; (i) a registration statement with respect
to such securities is declared effective under the Securities Act, or (ii) an opinion of counsel
for the a Party is provided, reasonably satisfactory to counsel for the other Party, that an exemption from the registration requirements
of the Securities Act is available. The TEUM Certificates will accordingly contain a customary Securities Act 1933, section 144,
legend until the same is removed in accordance with that Act. To the extent that similar rules or restrictions apply to ARTA Shares,
TEUM agrees to comply with those. Further, both Parties hereby agree to provide reasonable assistance and cooperation to ensure
compliance with their respective jurisdictions’ securities laws in place from time to time as well as ensuring admission
to trading of the TEUM Shares and/or ARTA Shares on a relevant stock exchange and/or otherwise disposing of the TEUM Shares or
ARTA Shares after the agreed lock-up period. 

 

1.6         CRESR
Holding/Listing of ARTA Shares 

 

(a)          ARTA
confirms that it has authorised its nominated advisor to make application on its behalf in accordance with Rule 29 of part 1 of
the AIM Rules for Companies in connection with the admission to trading on AIM of the ARTA Shares (the “Application”)
and undertakes that it will pay all such fees as may be necessary to obtain admission of the ARTA Shares to trading on AIM becoming
effective in accordance with Rule 6 of Part 1 of the AIM Rules for Companies by no later than 8.00 am on December 31, 2017 or such
later date as is agreed in writing between the parties.

 

(c)          ARTA
undertakes to TEUM that it shall promptly, following admission of the ARTA Shares to trading on AIM becoming effective procure
the registration of TEUM as a member of ARTA and ARTA shall, subject to TEUM or its nominated agent having provided ARTA’s
registrars with the relevant CREST participant ID and CREST member account ID, procure that the registrars credit such shares to
the relevant CREST accounts not later than December 31, 2017.

 

    	 	- 4 -	 

     

    

 

ARTICLE II

REPRESENTATIONS
AND WARRANTIES OF TEUM

 

Except
as set forth in the reports, schedules, forms, statements and other documents required to be filed by TEUM under the Securities
Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding the date hereof (or such shorter
period as the Company was required by law or regulation to file such material) (the foregoing materials and any amendments filed
through the date hereof, including the exhibits thereto and documents incorporated by reference therein, being collectively referred
to herein as the “SEC Reports”), disclosure in any one of which shall apply to any and all representations and
warranties made by TEUM in this Agreement, TEUM hereby represents and warrants to the ARTA, as of the date of this Agreement and
as of the Closing Date, as follows:

 

2.1         Organization,
Standing and Power. TEUM is a company duly incorporated, validly existing and in good
standing under the laws of the State of Delaware and has corporate power and authority to conduct its business as presently conducted
by it and to enter into and perform this Agreement and to carry out the transactions contemplated by this Agreement. The
TEUM Common Stock is currently trading on NYSE American (“NYSE American”) under the symbol “TEUM”.
TEUM is duly qualified to do business as a foreign corporation doing business in each state in which it owns or leases real property
and where the failure to be so qualified and in good standing would have a Material Adverse Effect on TEUM or its business.
Other than the Subsidiaries, TEUM does not have an ownership interest in any corporation, partnership (general or limited), limited
liability company or other entity, whether foreign or domestic (collectively such ownership interests including capital stock).

 

2.2         Capitalization.

 

(a)          On
or about the date of this Agreement, there are 550,000,000 shares of capital stock of TEUM authorized, consisting of (i) 500,000,000
shares of TEUM Common Stock and (ii) 50,000,000 shares of Preferred Stock of TEUM, of which there are (i) approximately 16,082,068
TEUM Common Stock issued and outstanding with a par value of $0.0001, and (ii) there are no shares of Preferred Stock issued and
outstanding.

 

 

2.3         Authority
for Agreement. The execution, delivery, and performance of this Agreement by TEUM has been duly authorized by all necessary
corporate and shareholder action, and this Agreement, upon its execution by the Parties, will constitute the valid and binding
obligation of TEUM enforceable against it in accordance with and subject to its terms, except as enforceability may be affected
by bankruptcy, insolvency or other laws of general application affecting the enforcement of creditors' rights. The execution, delivery
and performance of this Agreement and compliance with its provisions by TEUM will not violate any provision of Applicable Law and
will not conflict with or result in any breach of any of the terms, conditions, or provisions of, or constitute a default under
(whether with or without notice or lapse of time or both), TEUM 's Certificate of Incorporation or Bylaws, in each case as amended,
or, in any material respect, any indenture, lease, loan agreement or other agreement or instrument to which TEUM is a party or
by which it or any of its properties are bound, or any decree, judgment, order, statute, injunction, charge, rule or regulation
or other restriction of any governmental agency applicable to TEUM except to the extent that any breach or violation of any of
the foregoing would not constitute or result in a Material Adverse Effect on TEUM. Except as set forth the SEC Reports, no consent,
filing with or notification to, or approval or authorization of any governmental, regulatory or other authority is required on
the part of TEUM in connection with the execution, delivery and performance of this Agreement.

 

2.4          Issuance
of the TEUM Shares. The shares of TEUM Common Stock issuable to ARTA will, when issued pursuant to this Agreement, be duly
and validly authorized and issued, fully paid and non-assessable. The shares of TEUM Common Stock issuable to ARTA will rank pari
passu with the existing TEUM Common Shares currently in issue. TEUM undertakes to assist ARTA with facilitating the electronic
trading of the TEUM Shares after the lockup period.

 

    	 	- 5 -	 

     

    

 

2.5         Financial
Statements.

 

(a)          The
financial statements of TEUM included in the SEC Reports comply in all material respects with applicable accounting requirements
and the rules and regulations of the SEC with respect thereto as in effect at the time of filing. The financial statements (the
“TEUM Financial Statements”) of TEUM included in its Form 10-K for the year ended December 31, 2016 and Form
10-Q for the quarter ending June 30, 2017 have been prepared in accordance with United States generally accepted accounting principles
applied on a consistent basis during the periods involved (“GAAP”), except as may be otherwise specified in
such financial statements or the footnotes thereto except that unaudited financial statements may not contain all footnotes required
by GAAP, and fairly present in all material respects the financial position of TEUM and its Subsidiaries as of and for the dates
thereof and the results of operations and cash flows for the periods then ended, subject to normal, immaterial, year-end audit
adjustments. There is no transaction, arrangement, or other relationship between TEUM or any Subsidiary and an unconsolidated or
other off balance sheet entity that is not disclosed in its financial statements that should be disclosed in accordance with GAAP
and that would be reasonably likely to have a Material Adverse Effect.

 

(b)          Except
as disclosed in the consolidated financial statements contained in the TEUM Financial Statements, there has been no material change
in the financial condition, operations or business of TEUM since the date of the most recent 10-Q filing.

 

(d)          Except
as otherwise disclosed in the consolidated financial statements contained in the TEUM Financial Statements included in the SEC
Reports, TEUM does not have any liabilities.

 

2.6         Governmental
Consent. No consent, waiver, approval, order or authorization of, or registration, declaration
or filing with, any court, administrative agency or commission or other federal, state, county, local or other foreign governmental
authority, instrumentality, agency or commission or any third party, including a party to any agreement with TEUM, is required
by or with respect to TEUM in connection with the execution and delivery of this Agreement or the
consummation of the transactions contemplated hereby, except for such consents, waivers, approvals, orders, authorizations, registrations,
declarations and filings as may be required under applicable state or securities laws,.

 

2.7         Litigation.
Except as set forth in the SEC Reports, there is no action, suit, investigation, audit or proceeding pending against, or to the
knowledge of TEUM threatened against or affecting, TEUM or any of its assets or properties before
any court or arbitrator or any governmental or other body, agency or official in which an unfavorable outcome would materially
harm TEUM’s financial position.

 

2.8          Interested
Party Transactions. Except as set forth in the SEC Reports, TEUM is not indebted to
any officer or director of TEUM (except for compensation and reimbursement of expenses incurred in the ordinary course of business
and payment of which is not overdue), and no such person is indebted to TEUM.

 

2.9         Compliance
with Applicable Laws. The business of TEUM has not been, and is not being, conducted in violation of any Applicable Law, except
for possible violations which both individually and also in the aggregate have not had and are not reasonably likely to have a
Material Adverse Effect. No investigation or review by any governmental entity with respect to TEUM is pending or, to the knowledge
of TEUM after reasonable inquiry, threatened, nor has any governmental entity indicated an intention to conduct the same, except
for investigations or reviews which both individually and also in the aggregate would not have, nor be reasonably likely to have,
a Material Adverse Effect. TEUM has not been threatened or subject to delisting on any exchange on which it is traded.

 

2.10       No
Undisclosed Liabilities. Except as set forth in the SEC Reports, there are no liabilities or debts of TEUM of any kind
whatsoever, whether accrued, contingent, absolute, determined, determinable or otherwise, and there is no existing condition, situation
or set of circumstances which could reasonably be expected to result in such a liability or debt.

 

    	 	- 6 -	 

     

    

 

2.11       Tax
Returns and Payment. Except as set forth in the SEC Reports, TEUM has duly and timely
filed all Tax Returns required to be filed by it and has duly and timely paid all Taxes. Except as disclosed in the TEUM Financial
Statements, there is no claim for Taxes that is a lien against the property of TEUM other than liens for Taxes not yet due and
payable, none of which Taxes is material. TEUM has not received notification of any audit of any Tax Return of TEUM being
conducted or pending by a Tax authority, no extension or waiver of the statute of limitations on the assessment of any Taxes has
been granted by TEUM which is currently in effect, and TEUM is not a party to any agreement,
contract or arrangement with any Tax authority or otherwise, which may result in the payment of any amount in excess of the amount
reflected on the TEUM Financial Statements.

 

2.12       TEUM
Public Filings. All public filings by TEUM under the Securities Exchange Act of 1934,
as amended (the “Exchange Act”), are true, correct and complete in all material respects, are not misleading
and do not omit to state any material fact which is necessary to make the statements contained in such public filings not misleading
in any material respect. Except as set forth in the SEC Reports, all TEUM public filings
under the Exchange Act have been timely made. TEUM is not in violation of the listing requirements
of NYSE American and does not reasonably anticipate that the Common Stock will be delisted by NYSE American in the foreseeable
future, nor are the Company’s securities “chilled” by FINRA. TEUM and
its subsidiaries are unaware of any facts or circumstances which might give rise to any of the foregoing.

 

ARTICLE III

REPRESENTATIONS
AND WARRANTIES OF ARTA.

 

Except as set forth in
Disclosure Schedules, attached hereto, disclosure in any one of which shall apply to any and all representations
and warranties made by ARTA in this Agreement, ARTA hereby represents and warrants
to TEUM, as of the date of this Agreement and as of the Closing Date, as follows:

 

3.1           Organization,
Standing and Authority; Ownership of Shares. ARTA is a corporation duly organized, validly existing and in good standing under
the laws of England and Wales. ARTA has the full corporate power and corporate authority to execute, deliver and perform each Transaction
Document to which it is a party. ARTA is qualified to do business and is in good standing in each jurisdiction in which the nature
of its business or the properties owned or leased by it requires qualification. ARTA has all right, power and authority to execute
and deliver this Agreement and each Transaction Document to which it is a party and to perform its obligations hereunder and thereunder.
ARTA’s ordinary shares are currently trading on the Alternative Investment Market of the
London Stock Exchange (“AIM”) under the symbol “ARTA”. ARTA is duly qualified to do business as
a foreign corporation doing business in each jurisdiction in which it owns or leases real property and where the failure to be
so qualified and in good standing would have a Material Adverse Effect on ARTA or its business.
Other than its subsidiaries, ARTA does not have an ownership interest in any corporation, partnership (general or limited), limited
liability company or other entity, whether foreign or domestic (collectively such ownership interests including capital stock).

 

3.2         Capitalization.

 

(a)          On
or about the date of this Agreement, there are 313,588,578 shares of ARTA issued, consisting of only ordinary shares of ARTA with
par value £0.05 (“ARTA Ordinary Shares”).

 

    	 	- 7 -	 

     

    

 

3.3         Authority
for Agreement. The execution, delivery, and performance of this Agreement by ARTA has been duly authorized by all necessary
corporate and shareholder action, and this Agreement, upon its execution by the Parties, will constitute the valid and binding
obligation of ARTA enforceable against it in accordance with and subject to its terms, except as enforceability may be affected
by bankruptcy, insolvency or other laws of general application affecting the enforcement of creditors' rights. The execution, delivery
and performance of this Agreement and compliance with its provisions by ARTA will not violate any provision of Applicable Law and
will not conflict with or result in any breach of any of the terms, conditions, or provisions of, or constitute a default under
(whether with or without notice or lapse of time or both), ARTA's Certificate of Incorporation or Bylaws, in each case as amended,
or, in any material respect, any indenture, lease, loan agreement or other agreement or instrument to which ARTA is a party or
by which it or any of its properties are bound, or any decree, judgment, order, statute, injunction, charge, rule or regulation
or other restriction of any governmental agency applicable to ARTA except to the extent that any breach or violation of any of
the foregoing would not constitute or result in a Material Adverse Effect on ARTA. Except as set forth the Disclosure Schedules,
no consent, filing with or notification to, or approval or authorization of any governmental, regulatory or other authority is
required on the part of ARTA in connection with the execution, delivery and performance of this Agreement.

 

3.4         Issuance
of the ARTA Shares.

 

(a)          The
ARTA Ordinary Shares issuable to TEUM will, when issued pursuant to this Agreement, be duly and validly authorized and issued,
credited as fully paid up and shall rank parri passu with the existing ARTA Ordinary Shares currently in issue.

 

(b)          ARTA
confirms that it has authorised its nominated advisor to make application on its behalf in accordance with Rule 29 of part 1 of
the AIM Rules for Companies in connection with the admission to trading on AIM of the ARTA Shares (the “Application”)
and undertakes that it will pay all such fees as may be necessary to obtain admission of the ARTA Shares to trading on AIM becoming
effective in accordance with Rule 6 of Part 1 of the AIM Rules for Companies by no later than 8.00 am on December 31, 2017 or such
later date as is agreed in writing between the parties.

 

 

3.5         ARTA
is aware that the TEUM Shares have not been registered under the Securities Act, or any state securities laws or regulations in
reliance upon the exemption set forth in Section 4(2) of the Securities Act and safe-harbor set forth in Regulation S adopted
under the Securities Act that provides certain offerings conducted outside the United States are not subject to the registration
requirements of the Securities Act, and similar exemptions under state law. ARTA will not offer or sell the TEUM Shares unless
they are registered or are exempt from registration under the Securities Act and any applicable state securities laws or regulations.

 

3.6         Financial
Statements.

 

(a)          The
financial statements of ARTA included in the Disclosure Schedules are true and complete copies of the financial statements of ARTA
(the “ARTA Financial Statements”) and have been prepared in accordance with IFRS, except as may be otherwise
specified in such financial statements or the footnotes thereto except that unaudited financial statements may not contain all
footnotes required by IFRS, and fairly present in all material respects the financial position of ARTA and its subsidiaries as
of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject to normal, immaterial,
year-end audit adjustments. There is no transaction, arrangement, or other relationship between ARTA or any of its subsidiaries
and an unconsolidated or other off balance sheet entity that is not disclosed in its financial statements that should be disclosed
in accordance with IFRS and that would be reasonably likely to have a Material Adverse Effect.

 

(b)          Except
as disclosed in the consolidated financial statements contained in the ARTA Financial Statements, there has been no material change
in the financial condition, operations or business of ARTA since June 30, 2017.

 

(d)          Except
as otherwise disclosed in the consolidated financial statements contained in the ARTA Financial Statements included in the Disclosure
Schedules, ARTA does not have any liabilities.

 

    	 	- 8 -	 

     

    

 

3.7         Governmental
Consent. No consent, waiver, approval, order or authorization of, or registration, declaration
or filing with, any court, administrative agency or commission or other federal, state, county, local or other foreign governmental
authority, instrumentality, agency or commission or any third party, including a party to any agreement with ARTA, is required
by or with respect to ARTA in connection with the execution and delivery of this Agreement or the
consummation of the transactions contemplated hereby, except for such consents, waivers, approvals, orders, authorizations, registrations,
declarations and filings as may be required under applicable state or securities laws,.

 

3.8         Litigation.
Except as set forth in the Disclosure Schedules, there is no action, suit, investigation, audit or proceeding pending against,
or to the knowledge of ARTA threatened against or affecting, ARTA or any of its assets or properties before
any court or arbitrator or any governmental or other body, agency or official in which an unfavorable outcome would materially
harm ARTA’s financial positon.

 

3.9         Interested
Party Transactions. Except as set forth in the Disclosure Schedules, ARTA is not indebted
to any officer or director of ARTA (except for compensation and reimbursement of expenses incurred in the ordinary course of business
and payment of which is not overdue), and no such person is indebted to ARTA.

 

3.10       Compliance
with Applicable Laws. The business of ARTA has not been, and is not being, conducted in violation of any Applicable Law, except
for possible violations which both individually and also in the aggregate have not had and are not reasonably likely to have a
Material Adverse Effect. No investigation or review by any governmental entity with respect to ARTA is pending or, to the knowledge
of ARTA after reasonable inquiry, threatened, nor has any governmental entity indicated an intention to conduct the same, except
for investigations or reviews which both individually and also in the aggregate would not have, nor be reasonably likely to have,
a Material Adverse Effect. ARTA has not been threatened or subject to delisting on any exchange on which it is traded.

 

3.11       No
Undisclosed Liabilities. Except as set forth in the Disclosure Schedules, there are no liabilities or debts of ARTA
of any kind whatsoever, whether accrued, contingent, absolute, determined, determinable or otherwise, and there is no existing
condition, situation or set of circumstances which could reasonably be expected to result in such a liability or debt.

 

3.12       Tax
Returns and Payment. Except as set forth in the Disclosure Schedules, ARTA has duly
and timely filed all Tax Returns required to be filed by it and has duly and timely paid all Taxes. Except as disclosed in the
ARTA Financial Statements, there is no claim for Taxes that is a lien against the property of ARTA other than liens for Taxes not
yet due and payable, none of which Taxes is material. ARTA has not received notification of any audit of any Tax Return of ARTA
being conducted or pending by a Tax authority, no extension or waiver of the statute of limitations on the assessment of
any Taxes has been granted by ARTA which is currently in effect, and ARTA is not a party
to any agreement, contract or arrangement with any Tax authority or otherwise, which may result in the payment of any amount in
excess of the amount reflected on the ARTA Financial Statements.

 

 

ARTICLE IV

CERTAIN COVENANTS AND AGREEMENTS

 

4.1         Additional
Covenants and Agreements. The Parties hereto do hereby mutually covenant and agree as to the matters set forth in this Section
4.1 below:

 

(a)          Announcement.
No Party shall issue any press release or otherwise make any public statement with respect to this Agreement or the transactions
contemplated hereby without the prior consent of the other Party hereto (which consent shall not be unreasonably withheld or delayed),
except as may be required by Applicable Law or securities regulation. Notwithstanding anything
in this Section 4.1 to the contrary, the Parties will, to the extent practicable, consult with each other before issuing, and provide
each other the opportunity to review and comment upon, any such press release or other public statements with respect to this Agreement
and the transactions contemplated hereby whether or not required by Applicable Law.

 

    	 	- 9 -	 

     

    

 

(b)          Notification
of Certain Matters. Each Party shall give prompt written notice to the other Party upon becoming aware of:

 

(i)          The
occurrence, or non-occurrence, of any event the occurrence, or non-occurrence, of which would be reasonably likely to cause any
representation or warranty contained in this Agreement to be untrue or inaccurate in any material respect at or prior to the Closing
Date; and

 

(ii)         Any
material failure of TEUM, on the one hand, or ARTA, on the other hand, to comply with or satisfy any covenant, condition or agreement
to be complied with or satisfied by it hereunder.

 

(c)            Reasonable
Efforts. Before Closing, upon the terms and subject to the conditions of this Agreement, the Parties agree to use their respective
reasonable efforts to take, or cause to be taken, all actions, and to do, or cause to be done, all things necessary, proper or
advisable (subject to applicable laws) and with their respective policies to consummate and make effective the Exchange and other
transactions contemplated by this Agreement as promptly as practicable including, but not limited to:

 

(i)          The
preparation and filing of all forms, registrations and notices required to be filed to consummate the Exchange, including without
limitation, any approvals, consents, orders, exemptions or waivers by any third party or governmental entity; and

 

(i)          The
satisfaction of the other Party's conditions precedent to Closing.

 

(d)          Access
to Information.

 

(i)          Inspection
by ARTA. ARTA will make available for inspection by TEUM and its advisers, during normal business hours and in a manner so
as not to interfere with normal business operations, all of ARTA’s records (including tax records), books of account, premises,
contracts and all other documents in ARTA’s possession or control that are reasonably requested by TEUM or its advisers to
inspect and examine the business and affairs of ARTA. ARTA will cause its managerial employees and regular independent accountants
to be available upon reasonable advance notice to answer questions of TEUM concerning the business
and affairs of ARTA. TEUM will treat and hold as confidential any information they receive from ARTA in the course of the reviews
contemplated by this Section 4.1(d). No examination by TEUM will, however, constitute a waiver or relinquishment by TEUM of its
rights to rely on ARTA’s covenants, representations and warranties made herein or pursuant hereto.

 

(ii)         Inspection
by TEUM. TEUM will make available for inspection by ARTA and its advisers, during normal business hours and in a manner so
as not to interfere with normal business operations, all of TEUM’s records (including tax records), books of account, premises,
contracts and all other documents in TEUM’s possession or control that are reasonably requested by ARTA or its advisers to
inspect and examine the business and affairs of TEUM. TEUM will cause its managerial employees and regular independent accountants
to be available upon reasonable advance notice to answer questions of ARTA concerning the business and affairs of TEUM. ARTA will
treat and hold as confidential any information it receives from TEUM in the course of the reviews contemplated by this Section
4.1(d). No examination by ARTA will, however, constitute a waiver or relinquishment by ARTA
of its rights to rely on TEUM’s covenants, representations and warranties made herein or pursuant hereto.

 

(e)          Notice
of Developments. Each Party shall give prompt written notice to the others of any development causing a breach of any of its
representations and warranties contained in this Agreement. No disclosure by any Party pursuant to this Section 4.1(e), however,
shall be deemed to amend or supplement the SEC Reports or to prevent or cure any misrepresentation, breach of warranty, or breach
of covenant.

 

    	 	- 10 -	 

     

    

 

4.2         TEUM
Shares Lock-Up/Leak-Out Agreement. Except as otherwise expressly provided herein, ARTA agrees not to sell, assign, pledge,
hypothecate, encumber, or transfer any of the TEUM Shares or any interest therein, until the nine month anniversary of the Closing
Date (the “Lock-Up Period”), subject to the following:

 

(a)          Commencing
30 days from the end of the Lock-Up Period, ARTA agrees not to sell more than 1/5th of the TEUM Shares
in any 30-day period (the “Leak-Out Period”) with the first sale not to occur prior to 30 days
after the end of the Lock-Up Period (the “Leak-Out Restriction”).

 

(b)          ARTA
shall not engage in any short selling (as defined under Rule 200 of Regulation SHO under the Exchange Act) of the Exchange Securities
during the Lock-Up Period or while the Leak-Out Restriction is in effect.

 

(c)          The
following legend describing this Agreement shall be imprinted on each stock certificate representing Common Stock covered hereby,
and the transfer records of the Company’s transfer agent shall reflect such appropriate restrictions:

 

“THE TRANSFERABILITY
OF THE SHARES REPRESENTED BY THIS STOCK CERTIFICATE IS SUBJECT TO THE TERMS OF THE LOCK-UP AND LEAK-OUT AGREEMENT ENTERED INTO
BY THE SHAREHOLDER AND THE COMPANY.”

 

(d)          During
the Leak-Out Period, TEUM shall maintain its “reporting” status with the Securities and Exchange Commission; file all
reports that are required to be filed by it during such period; and use its “best efforts” to ensure that the Common
Stock is continually quoted for public trading on a nationally recognized stock exchange.

 

4.3           ARTA
Shares Lock-In/Orderly Market Agreement . 

 

(a)         TEUM
hereby undertakes to ARTA and finnCap:

 

(i)           not
at any time during the Lock-Up Period, without the prior written consent of ARTA, to offer, dispose of, or agree to offer or otherwise
dispose of directly or indirectly, whether for consideration or not:

 

a. any ARTA Shares (or any legal or beneficial interest
in any ARTA Shares); or

 

b. any securities of ARTA that are substantially similar
to the ARTA Shares (or any legal or beneficial interest in such securities or right in respect of such securities) including any
securities that are convertible into or exchangeable for, or that represent the right (whether conditional or not) to receive ARTA
Shares or any such substantially similar securities,

 

or do anything with the same or
substantially the same economic effect as any of the foregoing (including, a derivatives transaction); and

 

(ii)         not,
whilst finnCap remains as broker to the Company, until the end of the Lock-Up Period make any such disposal as is referred
to in section 4.3(a)(i) above except through finnCapIn this section 4.3(a), "dispose" includes mortgaging, pledging,
charging, lending, assigning, selling, transferring, issuing or granting options, rights or warrants or otherwise disposing.

 

(b)          TEUM
acknowledges that any decision by finnCap and/or ARTA to withhold consent in any of the circumstances mentioned in section 4.3(a)
shall not form the basis of any claim against finnCap and/or ARTA for any damage, loss, cost or expense alleged to have been caused
by such decision.

 

    	 	- 11 -	 

     

    

 

(c)          In
view of the difficulties in placing a monetary value upon the effects of any breach of the terms of the undertakings referred to
in this section 4.3, TEUM recognises that finnCap and ARTA will be entitled to seek injunctive relief as well as any other relief
which may be appropriate under the circumstances in any court of competent jurisdiction in the event of any breach or anticipatory
breach of the obligations set out in this agreement.

 

ARTICLE V

CONDITIONS OF CLOSING

 

5.1         Conditions
Precedent to Obligations of ARTA. The obligations of ARTA hereunder in
connection with the Closing are subject to the following conditions being met:

 

(a)          the
accuracy in all material respects (or, to the extent representations or warranties are qualified by materiality or Material Adverse
Effect, in all respects) on the Closing Date of the representations and warranties of ARTA contained herein (unless as of a specific
date therein in which case they shall be accurate as of such date);

 

(b)          all
obligations, covenants and agreements of ARTA required to be performed at or prior to the Closing Date shall have been performed;

 

(c)          from
the date hereof to the Closing Date, trading in the ARTA Ordinary Shares shall not have been suspended by ARTA’s principal
Trading Market, and, at any time prior to the Closing Date, trading in securities generally as reported by Bloomberg L.P. shall
not have been suspended or limited, or minimum prices shall not have been established on securities whose trades are reported by
such service, or on any Trading Market, nor shall a banking moratorium have been declared either by the United Kingdom or London
authorities nor shall there have occurred any material outbreak or escalation of hostilities or other national or international
calamity of such magnitude in its effect on, or any material adverse change in, any financial market which, in each case, in the
reasonable judgment of TEUM, makes it impracticable or inadvisable to exchange the Exchange Securities at the Closing; and

 

(d)          the
delivery by ARTA of the items set forth in Section 1.4 of this Agreement.

 

5.2         Conditions
Precedent to Obligations of TEUM. The obligations of TEUM hereunder in connection with the Closing are subject to the following
conditions being met:

 

(a)           the
accuracy in all material respects (or, to the extent representations or warranties are qualified by materiality or Material Adverse
Effect, in all respects) when made and on the Closing Date of the representations and warranties of TEUM contained herein (unless
as of a specific date therein);

 

(b)          all
obligations, covenants and agreements of the Company required to be performed at or prior to the Closing Date shall have been performed;

 

(c)           from
the date hereof to the Closing Date, trading in the TEUM Common Stock shall not have been suspended by the Commission or TEUM’s
principal Trading Market, and, at any time prior to the Closing Date, trading in securities generally as reported by Bloomberg
L.P. shall not have been suspended or limited, or minimum prices shall not have been established on securities whose trades are
reported by such service, or on any Trading Market, nor shall a banking moratorium have been declared either by the United States
or New York State authorities nor shall there have occurred any material outbreak or escalation of hostilities or other national
or international calamity of such magnitude in its effect on, or any material adverse change in, any financial market which, in
each case, in the reasonable judgment of ARTA, makes it impracticable or inadvisable to exchange the Exchange Securities at the
Closing; and

 

    	 	- 12 -	 

     

    

  

(d)          the
delivery by TEUM of the items set forth in Section 1.3 of this Agreement. 

 

ARTICLE VI

INDEMNIFICATION

 

6.1         Indemnification
by TEUM. Subject to the provisions of this Article VI, TEUM agrees to indemnify, defend and hold harmless ARTA from and against
any and all Losses incurred or suffered arising out of any breach of any representation or warranty in this Agreement and/or in
any Transaction Document made or given by TEUM.

 

6.2         Indemnification
by ARTA Subject to the provisions of this Article VI, ARTA agrees to indemnify, defend and hold harmless TEUM from and against
any and all Losses incurred or suffered arising out of any breach of any representation or warranty in this Agreement and/or in
any Transaction Document made or given by ARTA.

 

6.3         Other
Indemnification Arrangements.

 

(a)          Notwithstanding
the other provisions of this Article VI, no Indemnitor shall be liable under this Article VI or otherwise for a breach
of representation or warranty unless the Indemnitee gives notice of a claim against such Indemnitor giving reasonable details of
the claim and the events which gave rise to the claim and, if practicable, the Indemnitee’s genuine pre-estimate of the amount
of the claim not later than 12 months (the “Claims Period”) after the Closing Date (and for the avoidance of
doubt, claims asserted in writing before such date shall be deemed timely made regardless of whether litigation or arbitration
proceedings are commenced by such date) and proceedings in respect of any claim so notified are commenced (by the issue and service
of a claim form) within six months of such notification if the claim is not settled within such six month period. Such limitation
shall not apply to Indemnifiable Claims arising out of an inaccuracy of a statement, or a breach of warranty, as applicable, set
forth in this Agreement, which shall survive the Claims Period without limitation.

 

(b)          Indemnitee
agrees to give to the Indemnitor prompt written notice of any claim with respect to which it may be entitled to indemnity or damages
hereunder (but the obligations of Indemnitor under this Article 6.3 or otherwise shall not be impaired by failure to give such
notice except to the extent said failure actually causes Losses to, or prejudices the rights of Indemnitor). Indemnitor shall have
the right to (and shall upon the request of Indemnitee) assume, with counsel reasonably satisfactory to Indemnitee, the defense
of any such claim brought by a third party. After Indemnitor’s written confirmation of the assumption of the defense of any
such claim and its obligation to indemnify and hold harmless Indemnitee in respect thereof Indemnitor shall not be responsible
for the legal fees and expenses of counsel independently retained by Indemnitee during the continuance of such assumption (but
shall be liable for any such fees and expenses other than during the continuance of such assumption). Indemnitor may effect any
settlement, adjustment or other compromise (collectively, “Settlement”) of any such claim without the consent
of Indemnitee if Indemnitor has paid, or made adequate provision for the payment of, the amount of such Settlement at the time
thereof and obtained a complete release respecting any such claims against the Indemnitee, as applicable, provided that before
entering into any Settlement that involves any remedy other than the payment of money by Indemnitor, Indemnitor shall obtain the
prior written consent of Indemnitee, which shall not be unreasonably withheld, denied or delayed. Indemnitee may, at its election,
employ counsel at its own expense in connection with the handling of any such claim. Indemnitee shall have the right to enter into
any Settlement of any such claim provided Indemnitee shall not be entitled to any indemnification or damages hereunder in connection
with the payment of any amounts pursuant to any Settlement agreed to by it unless such Settlement is consented to in writing by
Indemnitor, which consent shall not be unreasonably withheld, denied or delayed. The Parties agree to cooperate with each other
in connection with the defense, negotiation or Settlement of any claim of a third party.

 

    	 	- 13 -	 

     

    

 

(c)          The
Indemnitee shall not be entitled to claim more than once in respect of the same loss or damage. The Indemnitee shall not have any
claim under this Agreement in respect of any matter to the extent that the facts which might result in a claim or possible claim
were fairly disclosed in the Disclosure Schedule or in this Agreement or the other documents referred to in this Agreement.

 

(d)          No
Indemnitor shall have a liability for a claim under this Agreement unless and until such claim reaches final determination, which
means:

 

(i)          the
relevant Indemnitor(s) and the Indemnitee agreeing a settlement in respect of the relevant claim or it being otherwise satisfied;
or

 

(ii)         an
order or a decree of a court of competent jurisdiction being given in proceedings in respect of a relevant claim and such order
or decree being final and not or no longer appealable.

 

(e)          If
any claim under this Agreement is based upon a liability that is contingent only an Indemnitor shall not be liable to make any
payment to an Indemnitee, unless and until such contingent liability becomes an actual liability and is discharged and in the case
of a claim under the warranties set out in this Agreement loss is proven.

 

(f)          Where
an Indemnitee is at any time entitled to recover from some other Person any sum in respect of any matter giving rise to a claim
under this Agreement the Indemnitee shall undertake all reasonable steps to enforce such recovery prior to taking any actions (other
than notifying the Indemnitor of the claim) against an Indemnitor and in the event that an Indemnitee shall recover any amount
from such other Person the amount of the claim against an Indemnitor shall be reduced by the amount recovered less the reasonable
costs incurred by the Indemnitee in recovering that sum from such other person.

 

(g)          If
an Indemnitor makes any payment to an Indemnitee in relation to any claim under this Agreement and the Indemnitee subsequently
receives from a third party any amount referable to, or any benefit which would not have been received but for the circumstances
giving rise to, the subject matter of that claim, the Indemnitee shall, once it has received such amount or benefit, immediately
repay or procure the repayment to the Indemnitor of either:

 

(i)          the
amount of such receipt (after deducting an amount equal to the reasonable costs of the Indemnitee incurred in recovering such receipt
and any taxation payable on it); or if lesser,

 

(ii)         the
amount paid in respect of such claim by the Indemnitor together with any interest or repayment supplement paid to the Indemnitee
in respect of it.

 

(h)          Nothing
in this Section shall in any way affect or prejudice the Indemnitee’s common law duty to mitigate its loss.

 

(i)          ARTA
shall not be entitled to claim in respect of any matter provided for in the TEUM Financial Statements.

 

(j)          TEUM
shall not be entitled to claim in respect of any matters provided for in the ARTA Financial Statements.

 

6.4         Maximum
Liability. The aggregate liability of the Indemnitor in respect of all claims under this Agreement will not exceed an amount
equal to the consideration received by that Indemnitor under this Agreement

 

6.5         Small
claims throw away. An Indemnitor will not be liable for any claim unless the amount of the liability in respect of that claim
(excluding interest and costs) exceeds $5,000.

 

    	 	- 14 -	 

     

    

 

6.6         Threshold.
A Indemnitor will not be liable for any claim unless and until the amount of the liability in respect of that claim, when aggregated
with the amount of the liability in respect of all other claims (excluding any amounts in respect of a claim for which the Indemnitor
has no liability because of Article 6.5), exceeds $50,000 in which event the Indemnitor will be liable for the whole amount of
such liability and not merely for the excess.

 

6.7         Fraud.
The limitations set out in this Article VI shall not apply to an Indemnitor in respect of
Liabilities arising from fraud or willful non-disclosure on the part of that Indemnitor, its agents
or advisers. 

 

ARTICLE VIII

MISCELLANEOUS

 

7.1         Termination.
This Agreement may be terminated before the Closing by a Party by written notice to the other Party, if the Closing has not been
consummated on or before December 31, 2017; provided, however, that such termination will not affect the right of any party to
sue for any breach by any other party.

 

7.2           Entire
Agreement, Survival.

 

(a)          This
Agreement, and the documents referred to in it, constitute the entire agreement and understanding of the Parties and supersede
any previous agreements made or existing between the Parties or any of them before or simultaneously with this Agreement and relating
to the subject matter of this Agreement (all of which shall be deemed to have been terminated by mutual consent with effect from
the date of this Agreement).

 

(b)          Each
of the Parties acknowledges and agrees that on entering into this Agreement, and the documents referred to herein, does not rely
on, and shall have no remedy in respect of, any statement, representation, warranty or understanding (whether negligently or innocently
made) of any person (whether party to this Agreement or not) other than as expressly set out in this Agreement.

 

(c)          Save
as provided for in section 7.3(b), the only remedy available to a Party for a breach of this Agreement shall be for breach of contract
under the terms of this Agreement.

 

(d)          Nothing
in this Section 7.2 shall, however, operate to limit or exclude any liability for fraud.

 

(e)          Except
as otherwise permitted by this Agreement no change to its terms shall be effective unless it is in writing and signed by or on
behalf of each of the Parties.

 

7.3         Jurisdiction
and Governing Law; Jury Trial.

 

(a)          This
Agreement shall be governed by and construed solely and exclusively in accordance with the internal laws of England & Wales
without regard to the conflicts of laws principles thereof. The Parties hereto hereby expressly and irrevocably agree that any
suit or proceeding arising directly and/or indirectly pursuant to or under this Agreement shall be brought solely in a court located
in the City, of London, England. By its execution hereof, the Parties hereby covenant and irrevocably submit to the in personam
jurisdiction of the federal and state courts located in London, England, and agree that any process in any such action may be served
upon any of them personally, or by certified mail or registered mail upon them or their agent, return receipt requested, with the
same full force and effect as if personally served upon them in London. The Parties hereto expressly and irrevocably waive any
claim that any such jurisdiction is not a convenient forum for any such suit or proceeding and any defense or lack of in personam
jurisdiction with respect thereto. In the event of any such action or proceeding, the party prevailing therein shall be entitled
to payment from the other party hereto of all of its reasonable counsel fees and disbursements.

 

    	 	- 15 -	 

     

    

 

(b)          Each
of the Parties hereto acknowledges and agrees that irreparable damage would occur in the event that any
of the provisions of this Agreement or any other Transaction Document was not performed
in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the Parties
shall be entitled to an injunction or injunctions to prevent or cure breaches of the provisions of this Agreement and the
other Transaction Documents to enforce specifically the terms and provisions hereof and thereof, this being in addition to any
other remedy to which any of them may be entitled by law or equity.

 

(c)          Each
of the Parties hereto hereby waives a trial by jury in any action, proceeding or counterclaim brought by either of the Parties
hereto against the other in respect of any matter arising out or in connection with this Agreement or any Transaction Document.

 

7.4         Schedules;
Tables of Contents and Headings. Any section required to be attached and not attached to this Agreement on the Agreement
Date shall be deemed to have been attached thereto with the following thereon: “None.” The table of contents and section
headings of this Agreement and titles given to Schedules to this Agreement are for reference purposes only and are to be given
no effect in the construction or interpretation of this Agreement. All notices and other communications under this Agreement shall
be in writing and shall be deemed given when (a) delivered personally
or (b) delivered by a responsible overnight courier service, in each such case delivered or mailed to the Parties at the
addresses set forth below (or to such address as a Party may have specified by notice given to the other Parties pursuant to this
provision).

 

7.5         Severability.
In the event that any provision hereof would, under applicable law, be invalid or unenforceable in any respect (a) such provision
shall be enforced to the maximum extent permissible under applicable law, and (b) the invalidity or unenforceability of any provision
of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain
in full force and effect.

 

7.6         Expenses.
Each Party shall pay the fees and expenses of its own advisers, counsel, accountants and other experts, if any, and all other expenses
incurred by such party incident to the negotiation, preparation, execution, delivery and performance of the Transaction Documents.

 

7.7         Notices.         All
notices and other communications under this Agreement shall be in writing and shall be deemed given
when (a) delivered personally or (b) delivered by a responsible overnight courier
service, in each such case delivered or mailed to the Parties at the addresses set forth below (or to such address as a Party may
have specified by notice given to the other Parties pursuant to this provision). The addresses for such communications shall be:

 

If to ARTA to:

 

Artilium PLC

Attn: Bart Weijermars

Vaartdijkstraat
19, 8200 Brugge, Belgium

 

If to TEUM to:

Pareteum Corporation

100 Park Avenue, 16th Floor

New York, New York 10017

Attention: Edward O’Donnell

 

With a copy (which shall not constitute notice)
to:

 

Sichenzia Ross
Ference Kesner LLP

1185 Avenue of
the Americas, 37rh Floor

 

    	 	- 16 -	 

     

    

 

New York, NY 10036

Attention: Darrin
M. Ocasio, Esq.

 

7.8         Miscellaneous
Provisions. 

 

(a)          Subject
and without prejudice to Section 7.1, all rights and remedies of any Party under any provision of this Agreement shall be in addition
to any other rights and remedies provided for by any law of any kind (including all forms of legal and equitable relief, including
specific performance), all rights and remedies contemplated in the preceding part of this sentence shall be independent and cumulative,
and may, to the extent permitted by law, be exercised concurrently or separately, and the exercise of any one right or remedy shall
not be deemed to be an election of such right or remedy or to preclude or waive the exercise of any other right or remedy.

 

(b)          Any
Party may waive compliance by another with any of the provisions of this Agreement provided that (i) no waiver of any provision
shall be construed as a waiver of any other provision, (ii) any waiver must be in writing and shall be strictly construed, and
(iii) a waiver in any one instance shall not be deemed a waiver in any subsequent instance.

 

(c)          This
Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns. The Parties
may not assign this Agreement or any rights or obligations hereunder without the prior written consent. A Party may assign any
or all of its rights under this Agreement to any Person to whom the Party assigns or transfers any Exchange Securities, provided
that such transferee agrees in writing to be bound, with respect to the transferred Exchange Securities, by the provisions of the
Transaction Documents that apply to such Party.

 

(d)         This Agreement may be
executed via fax and or other electronic transmission in counterparts, each of which shall be an original, but which together shall
constitute one and the same Agreement.

 

(e)          Each Party (severally) shall indemnify and hold harmless the other Parties from and against any and all claims for investment bankers,
brokers, finders or similar commissions (“Third Party Commission”) made by any Person as a result of this Agreement
and the transactions contemplated hereunder to the extent that any such Third Party Commission was incurred, or alleged to have
been incurred, by or through that Party.

 

[Signature page follows]

 

    	 	- 17 -	 

     

    

 

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

 

	 	PARETEUM CORPORATION	 
	 	 	 	 
	 	By:	 	 
	 	Name:	Robert H. Turner	 
	 	Title: 	Executive Chairman	 
	 	 	 	 
	 	ARTILIUM, PLC	 
	 	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title:	 	 

 

    	 	- 18 -Exhibit 10.27

 

AGREEMENT ESTABLISHING

 

A STRATEGIC ALLIANCE

 

Between

 

PARETEUM CORPORATION

 

And

 

ARTILIUM PLC

 

October 16, 2017

 

    	 	1 / 14

     

    

 

		1	PARTIES

 

This Strategic Alliance Agreement (“Agreement”)
is made and entered into on October 16, 2017 (the “Effective Date”), between:

 

		(A)	Pareteum Corporation, a company duly incorporated
under the laws of Delaware, USA, with its principal office at 100 Park Avenue, New York, USA (hereinafter referred to as “Pareteum”),
and

 

		(B)	Artilium PLC, a company duly incorporated under
the laws of England & Wales, with its principal office at 9-13 St Andrew Street, London, UK (hereinafter referred to as “Artilium”).

 

Pareteum and Artilium are each hereinafter
also referred to as a “Party” and, together, as the “Parties”.

 

		2	DEFINITIONS

 

The terms and expressions
set out below shall have the following meaning:

 

“Affiliate” means a
company or other legal entity which controls, is controlled by, or under common control with a Party to this Agreement, but any
such company or other legal entity shall be deemed to be an Affiliate only as long as such control exists, and for the purposes
of this definition, “control” shall mean direct or indirect ownership of more than fifty percent (50%) of the voting
rights of the controlled or commonly controlled entity.

 

“Appendix” means an
appendix to this Agreement.

 

“Agreement” means this
Strategic Alliance Agreement and all its Appendices.

 

“Customer” means a third
party prospective customer to which the Solutions will be co-marketed, sold and delivered - pursuant to this Agreement.

 

“Effective Date” means
the date written above on the first page.

 

“NDA” means the mutual
Non-Disclosure Agreement entered between the Parties and effective October 13, 2017.

 

“Opportunity Registration Form”
means a document identifying a Customer for a Project which will be agreed and executed between the Parties in a form similar to
Appendix 3.

 

“Projects” means the
proposed deployment of any one or more (or a combination) of the following technological solutions:

 

(1) Pareteum’s (a) Managed Services
Platform; (b) Global Mobility Cloud Platform; and/or (c) Application Exchange Platform, including as appropriate its full MVNE/MVNA/MVNx
capabilities, API suites, HLR-as-a-Service and Internet-of-Things connectivity solutions (the “Pareteum Solutions”);
and

 

(2) Artilium’s ARTA® solution
suites, including ARTA AAA, ARTA BILL, OneApp, and real-time session control, rating, usage monitoring and billing of voice, sms,
mms, data sessions and mobile payments for prepaid and postpaid offerings (the “Artilium Solutions”).

 

    	 	2 / 14

     

    

 

Which together may be referred to as the
“Solutions”.

 

“Project Agreement”
means a contract to be concluded between the Parties during the preparation phase of a Project for a Customer.

 

“Territory” means the
continent of South America, Asia and Africa, and such other jurisdictions anywhere in the world as may be agreed between the Parties
in writing from time to time.

 

In addition to the above, defined terms
and expressions in the Appendices and elsewhere in this Agreement shall apply. Definitions may be used in the singular or plural.

 

		3	SCOPE

 

		3.1	The Parties desire to set forth the general terms upon
which they shall cooperate to jointly market, bid, offer and sell from time to time in respect of future commercial opportunities
to supply their own and each other’s Solutions through exploiting Projects with potential new Customers in the Territory.

 

		3.2	Each Party will use all reasonable efforts to win business
with new Customers for Projects in the Territory in accordance with the terms and conditions specified herein and in each Opportunity
Registration Form.

 

		3.3	Either Party may from time to time be a principal or ‘prime’
contractor vis-à-vis one or more Customers and may appoint the other Party as a joint- or sub- contractor. In bidding for
a Project opportunity, the Parties will determine on a case by case basis which of the Parties will act as the prime contractor
and which will have joint- or sub-contractor responsibility.

 

		3.4	A Party may choose to pursue Customers in the Territory
alone or in conjunction with another party without the involvement of the other Party, provided that neither Party shall circumvent
the other Party in respect of a potential Customer where an Opportunity Registration Form or a Project Agreement have been executed,
or where both Parties have agreed to cooperate pursuant to this Agreement.

 

		4	APPENDICES TO THE AGREEMENT

 

This Agreement consists of this document
and the Appendices listed below, which shall constitute and form an integral part of the Agreement:

 

	Appendix 1	Commercial Framework
	Appendix 2	Non-Disclosure Agreement
	Appendix 3	Opportunity Registration Form

 

In case of conflicts or inconsistencies,
this document will prevail over the Appendices unless an Opportunity Registration Form expressly states otherwise or a Project
Agreement has been executed which will supersede this Agreement in respect of a specific opportunity only.

 

    	 	3 / 14

     

    

 

		5	POTENTIAL OPPORTUNITIES

 

		5.1	The Parties may in their discretion, exchange technical,
commercial and/or sales and marketing information including sales leads, information about market opportunities and competitor
activity relating to Projects. The Parties will also share such information as may reasonably be required in order to enable the
other Party to understand and co-market or co-sell the Solutions of the other Party to Customers.

 

		5.2	The Parties further agree to collaborate closely and in
good faith on customer RFPs, RFIs and demonstrations and to provide reasonable access to each other’s technological Solutions
and systems in the course of such customer demonstrations.

 

		5.3	Neither Party shall use or issue material referring to
or describing the other Party or the other Party’s Solutions, products, processes or services or technology without that
Party’s prior written approval of the material to be used or issued and the use and context in which the material is to
be used or issued, and the third party(-ies) to which it is proposed to be disclosed.

 

		6	INDIVIDUAL PROJECT AGREEMENTS AND JOINT PROPOSALS

 

		6.1	The Parties agree that each new Project will be subject
to an individual Project Agreement between Artilium and Pareteum. Parties will negotiate such Project Agreement(s) in good faith
and in accordance with principles of this Agreement, unless otherwise agreed by the Parties.

 

		6.2	The operational and technical support responsibilities
for each Project and/or Customer will be stipulated in each Opportunity Registration Form.

 

		6.3	The overall commercial and financial arrangements for this
Agreement are described in Appendix 1 (Commercial Framework) which will be further particularised in each Opportunity Registration
Form (Appendix 3).

 

		6.4	Each Party agrees that when it has identified a specific
Project which it would like to pursue jointly, pursuant to this Agreement, that it will notify the other Party by written notice
including the information stipulated in Appendix 3 (Opportunity Registration Form) (a “Notice”) describing
in as much detail as possible the proposed Project and the identity of the Customer.

 

		6.5	The Party receiving the Notice must respond in writing
and sign the Notice within seven (7) business days confirming that it agrees to participate in the Project. After mutually executing
the Opportunity Registration Form, the Parties will negotiate the Project Agreement in good faith in accordance with the principles
of this Agreement and the Opportunity Registration Form.

 

		6.6	Once either Party issues an Opportunity Registration Form,
if the other Party does not wish to participate jointly in such Project, it shall be precluded from competing in that Project,
unless the receiving Party was already aware of that Project and had made efforts to participate in such Project itself (“Prior
Participation”).

 

		6.7	The Parties commit themselves, upon execution of an Opportunity
Registration Form to negotiating and concluding a detailed and final Project Agreement. Furthermore,
Parties hereto shall immediately commence good faith negotiations of a contract (hereinafter, consistent with the terms of this
Agreement, encompassing each Party’s proposed services and deliverables for the Services and other appropriate tasks required
by the prime contract. The Contract will be based upon a full back-to-back principle for the respective rights and obligations
of the parties. The Contract shall include, amongst other appropriate provisions, those provisions concerning each Party’s
responsibilities, liability and limitation hereof, terms or conditions pertaining to their respective services

 

    	 	4 / 14

     

    

 

		6.8	Project Agreements concluded pursuant to this Agreement
shall stipulate, among other things: (i) which Party will take the lead in preparing and submitting any appropriate proposal,
RFP and/or tender documentation; (ii) which Party will be the prime or principal contractor and which Party will take a joint
or sub-contracting responsibility; (iii) which Party is responsible for which aspects of which of the Solutions or Project (in
accordance with Appendix 3); (iv) commercial and financial provisions (in accordance with Appendices 1 and 3); (v) the standard
terms and conditions of supply of Solutions to the Customer; as well as if applicable (vi) a price list of Solutions and other
terms and conditions governing the same.

 

		6.9	In support of this effort, the Parties agree to provide
each other with such assistance as may be reasonably requested of either of them by the other in the preparation and submission
of proposals/RFPs/tenders etc. and in securing the award of resulting Projects to the Parties. In particular Parties will cooperate
on those matters relating to the supply of the Parties’ respective Solutions and within the Parties’ specialisms as
follows:

 

		(a)	to appoint qualified personnel to interact with the
other Party and/or Customer regarding pre sales activities and receipt of product or technical information. Parties warrant that
such appointed personnel shall adhere to any security regulations and security directives issued by the other Party and/or Customer
from time to time with respect to said commercial, product or technical information.

 

		(b)	to provide each other with such assistance as may be
required during the pre-proposal, proposal and post-proposal stages;

 

		(c)	to furnish each other with materials for the Proposal/RFP,
including without limitation manuscripts, graphic materials, engineering design, price options, and other required supporting
materials;

 

		(d)	to ensure availability of qualified management and
technical personnel during the pre-proposal, proposal and post-proposal stages;

 

		(e)	to submit management, technical and price presentation
or proposal materials and clarifications within the time frames jointly agreed  between the parties.

 

		6.10	The prime Party shall have overall editorial control of
any sales proposal(s) and shall be responsible for submission of the same to the Customer. The supporting Party will be entitled
prior to submission to review, evaluate and comment on any such joint Proposal to the extent that it relates to the works to be
performed by either Party and shall exercise joint control on the form and content of the Proposal to the extent that it relates
to the same.

 

		6.11	For purposes of facilitating communication with the Customer
in respect of matters pertaining to a Proposal, the Customer’s response to the Proposal or the negotiation and preparation
of a contract, the prime Party will be the primary interface to the Customer and will manage communication between the bidding
team and the Customer.

 

    	 	5 / 14

     

    

 

		6.12	The prime Party will notify the supporting Party as soon
as possible of the receipt by the prime Party of a written acceptance or refusal by the Customer of a Proposal.

 

		6.13	Except where otherwise agreed in writing, each Party shall
bear all its own expenses incurred in connection with preparing joint Proposals/RFP, the negotiations which follow, and all other
efforts resulting from the issue of the Proposals/RFP (including the award and finalising of contracts).

 

		6.14	It is agreed between the Parties that in case a Customer
rejects or does not wish to procure the Solutions of one Party or such Solutions do not meet the Customer’s requirements
or specifications, the prime Party shall be entitled following notification to the supporting Party, and after affording the supporting
Party a reasonable opportunity to suggest alternative solutions for the products and services, to pursue individually or co-operate
with another party to procure the same.

 

		7	EXCLUSIVITY

 

		7.1	The Parties agree that this Agreement is not exclusive
and Parties are free to pursue their own respective and competing business interests in the Territory and elsewhere. The Parties
agree that (save in relation to duties of confidentiality) nothing in this Agreement shall preclude or restrict them from individually
or in association with any third party directly or indirectly submitting or assisting in the submission of a proposal in respect
of an RFP in competition with a proposal that has been tendered by the other Party.

 

		7.2	Subject to Section 6.6, Parties are expressly forbidden
from individually participating and/or competing in Projects where an Opportunity Registration Form or a Project Agreement have
been executed.

 

		8	JOINT EFFORTS

 

		8.1	Each Party shall use all reasonable efforts to achieve
the purpose of this Agreement. Neither Party shall, however, have a claim against the other Party arising out of a failure to
fulfil the purpose except as a result of material breach of this Agreement.

 

		8.2	Except as set out in clause 16, no claims for loss of profit
or any other indirect or consequential damages shall be allowed between the Parties, which principle will also be mirrored in
any subsequent Project Agreement(s).

 

		9	BASIC RESPONSABILITIES AND UNDERSTANDINGS IN CASE
OF JOINT EFFORTS

 

it
has been agreed to apply the following principles:

 

		-	For the performance of the contract, the 2 parties
will be considered to be the preferred suppliers with priority above any other Subcontractors. Third Parties will only be requested
to participate as subcontractors when the needed competencies and qualities are not available with the parties to this contract.

 

		-	Roles and activities : The roles and activities of
each party will be detailed as soon as possible after the receipt of the Notice and could be reviewed, completed and detailed
during the bid process once the Project has been analysed in depth.

 

    	 	6 / 14

     

    

 

		-	The parties do agree that a fair share in the revenue
of the contract must be agreed

 

		-	The parties do also agree that in the staffing of
the different sub-projects (called “sectors” in the RFI) when one partner staffs the project-manager, the other partner
will staff the assistant project-manager.

 

		-	Possibility of trading: The repartition of tasks between
the members might be modified based upon the Project, upon context negotiations with the client or upon changes in available competencies
over time, but with respecting the “fair share of each member”.

 

		-	Quality of the service provided: The parties need
to safeguard the quality of its service delivery. If a party fails to cope with these quality standards, in certain domains it
can be decided to transfer these activities towards the other party or to a subcontractor if the client agrees upon this operation.

 

		-	The
Parties will work as a joined team in their relations with the client. A detailed plan describing the basic responsibilities of
all the Parties will be elaborated during the proposal phase.

 

		10	RIGHTS IN INVENTIONS

 

Copyright and any and all other intellectual
property rights in any documentation or other information developed or written or reduced to any tangible or literary form whatsoever
pursuant to this Agreement or any Proposal, tender, contract or sub-contract to which this Agreement refers shall vest in the Party
originating them. Any developments which originate due to the joint efforts of the Parties shall be owned by the Parties jointly
without restriction or rate of accounting to the other, provided that each Party shall exercise the same level of care to preserve
the proprietary nature of such joint developments as it exercises to preserve the proprietary nature of its own proprietary materials.
In addition, no development shall be deemed to be joint developments and therefore jointly owned by the Parties without the Parties
first specifically identifying those jointly developed works in writing prior to the development thereof. If each Party contributes
to the development of a work product and such work product is not identified as a joint work, each Party’s ownership rights
shall be limited to the portion of the work product developed by it. Each Party will, however, negotiate the transfer or licensing
of its ownership rights to the other upon mutually acceptable terms. Each Party shall to the extent specified in the Proposal or
tender grant licences or other rights to the other Parties and/or the Client (as appropriate) upon such terms as the Parties shall
mutually agree.

 

		11	ADDITIONAL UNDERTAKINGS

 

		11.1	If a Customer requires the integration of other vendors’
products in the scope of a relevant Project, both Parties undertake to negotiate in good faith the performance and delivery of
such integration to other vendors’ equipment, software or services.

 

		11.2	If a Customer requires the supply of other vendors’
products in the scope of the relevant Project, both Parties undertake to negotiate in good faith the supply of such relevant products.

 

    	 	7 / 14

     

    

 

		12	DURATION

 

		12.1	The Agreement shall be effective and valid as from the
Effective Date and shall have a duration of five (5) years. Unless renewed in writing by the Parties, or otherwise superseded
by a different contractual arrangement, this Agreement shall expire at the end of the initial five (5) year term.

 

		12.2	In the event of either Party becoming the subject of an
insolvency event or an arrangement with its creditors generally, then this Agreement will terminate automatically and will cease
to have any further validity or effect.

 

		12.3	Either party may terminate this Agreement prior to expiration
in the event of refusal, inability or failure of the other party to perform any material obligations under this Agreement. Such
termination will be made upon ten (10) business days prior written notice specifying the breach and upon the failure of the other
party to cure the breach within that time.

 

		12.4	The provisions of Clauses 6.14, 14, 15, 19 will expressly
survive the termination or expiration of this Agreement. Likewise, in the event of termination of this Agreement, any and all
outstanding responsibilities pursuant to in force Project Agreements with Customers will survive, and Parties will ensure continuity
of commitments with the Customer.

 

		13	COSTS

 

Each Party hereto shall bear separately
and solely any costs and expenses incurred in connection with this Agreement, its execution and performance. Similarly, each Party
will bear its own costs incurred or other obligations undertaken in connection with any matter arising out of any Proposal/Customer
engagement or any such matter, unless different arrangements have been agreed between the Parties in writing. For the avoidance
of doubt, neither Party shall be liable for the social taxes and/or labor liabilities of the other Party resulting from the commercial
relationship established pursuant to this Agreement.

 

		14	CONTACT PERSONS AND NOTICE ADDRESS

 

		14.1	The contact persons stated below shall be authorized to
take operational and day to day decisions, and are the only parties entitled to make changes or amendments to the Agreement.

 

The Parties have appointed
the following contact persons:

 

	Pareteum’s 	Hal Turner, Excutive Chairman and
	Contact Person	 Principal Executive Officer
	Name & Title:	 
	Address:	As above
	Direct telephone no.:	N/A
	Mobile telephone no.:	+1 415 425 0874
	E-mail:	Hal.Turner@pareteum.com 

 

    	 	8 / 14

     

    

 

	Artilium’s Contact 	Bart Weijermars , CEO
	Person	 
	Name & Title:	 
	Address:	Vaartdijkstraat 19, 8200 Brugge, 
	 	Belgium
	Direct telephone no.:	N/A
	Mobile telephone no.:	+32484451694
	E-mail:	bart.weijermars@artilium.com

 

Any notices to be sent by a Party according
to the Agreement shall be sent to the other Party’s contact person under address stated above which shall constitute effective
service.

 

		15	ASSIGNMENT

 

The Parties hereto
shall not assign any rights and obligations arising out of or in connection with this Agreement without the prior written consent
of the other Party, provided however that a Party shall be entitled to assign this entire Agreement to an Affiliate as part of
an internal group restructure undertaken in the ordinary course of business, or as a result of a merger or acquisition.

 

		16	CONFIDENTIALITY

 

The Parties have executed the NDA which
governs each Party’s obligations with respect to the confidential information of the other Party, as disclosed for the purpose
of this Agreement. Each Party agrees to keep this Agreement and all information received in connection with this Agreement confidential
as required by the NDA which is deemed incorporated in full into this Agreement and will survive this Agreement for a period of
no less than three (3) years.

 

		17	RELATIONS BETWEEN THE PARTIES

 

This Agreement alone
does not establish a joint venture or legal agency and neither Party shall without explicit written consent in each case create
obligations, accept commitments or waive rights on behalf of the other Party.

 

		18	LIMITATION OF LIABILITY

 

No Party hereunder shall be liable to any
other Party hereunder for any direct, consequential, indirect or special damages arising out of or related to this Agreement including,
without limitation, damages for loss of business profits, business interruption, loss of business information, and the like, even
if each Party has been advised of the possibility of such damages, save that such limitation shall not apply with respect to violation
of a Party’s confidential information or intellectual property rights.

 

		19	GOVERNING LAW AND JURISDICTION

 

This Agreement shall
be governed by the substantive laws of England & Wales

 

Any and all disputes,
differences or questions between the Parties with respect to any matter arising out of or relating to this Agreement that cannot
be amicably settled by the Parties, having acted in good faith and escalated up through the management of the Parties, shall be
finally settled by means of litigation in London, England, and the Courts in London shall have exclusive jurisdiction.

 

    	 	9 / 14

     

    

 

This Agreement may be executed in one or
more (electronic) counterparts:

 

	Signed on behalf of Pareteum:	 	Signed on behalf of Artilium:
	 	 	 	 
	Place and date: USA, October 16, 2017	 	Place and date: 	 
	 	 	 
	Name: Robert H. Turner	 	Name: 
	 	 	 
	Title: Executive Chairman	 	Title: 
	 	 	 	 	 
	Signature:	 	 	Signature: 	 

 

    	 	10 / 14

     

    

 

Appendix 1

 

Commercial Framework

 

The commercial and financial arrangements
are dependent on the nature of the Solutions which are being deployed for a given Customer, and the pricing and third party costs
which will be agreed with the end Customer as well as third party suppliers (e.g. network carriers) and defined in each Opportunity
Registration Form.

 

Accordingly, the specific commercial and
financial terms will be agreed between Parties’ respective commercial leads on a case by case basis, but these may include
some or all of the following:

 

1. Resale fee;

2. Gross or Net Revenue share;

3. License plus margin

4. Etc.

 

Each of the foregoing (or any alternative
arrangements) may have different charging components, including (without limitation):

 

1. Setup/implementation fees;

2. Monthly recurring subscriber/SIM fees;

3. One-off additional orders;

4. Support & maintenance charges;

5. License fees.

 

- o -

 

    	 	11 / 14

     

    

 

Appendix 2

 

NDA

 

[NDA dated October 13, 2017, enclosed]

 

    	 	12 / 14

     

    

 

Appendix 3

 

Opportunity Registration Form

 

	Opportunity Registration Number:	#0001
	Opportunity Registration Type:	 ̈ Pareteum Initiated           ̈ Artilium Initiated

 

	Opportunity Description:	 
	
        Customer

        Name:

        Business Address:

         

        Client Contact(s): 

        Name:

        Telephone Number:

        Email:
	
         

         

 

	
        Pareteum Primary Contact

        Primary Contact Name:

        Primary Contact Number:

        Primary Contact Email:
	
         

         

 

	
        Artilium Primary Contact

        Account Exec. Name:

        Account Exec. Number:

        Account Exec. Email:
	
         

         

 

	
        Submission Date:

        Acceptance Date by other Party:

        Termination Date:
	 

 

	Opportunity Description:	
        [a] 

        [b] 

        [c] etc.

	Pareteum and Artilium respective roles in Project / RFP /  Sale:	 

 

	
        Prime/sub Roles:

        (Select one)
	 ̈ Pareteum Prime        ̈ Artilium Prime       ̈ Other (describe)
	 	Pareteum Responsibilities:	Artilium Responsibilities:
	Sales	 	 
	Consulting / Design	 	 
	Installation	 	 
	Integration	 	 
	Localization	 	 
	Tests	 	 
	Go-live	 	 
	Operations	 	 
	Business configuration	 	 
	1st line support	 	 

 

    	 	13 / 14

     

    

 

	2nd line support	 	 
	3rd line support	 	 
	PM	 	 
	HW / hosting	 	 
	Proposal Schedule:	[a]

        [b]

        [c] etc.

	Opportunity Specific (Financial and Commercial) Terms and Conditions:	 

 

	
        Pareteum Deal Value (Optional):

        Artilium Talk Deal Value (Optional):

        Total:
	To be agreed.

 

	Pareteum: Value Terms and Conditions	 
	Artilium: Value Terms and Conditions	 

 

	Sales ‘Win’ Plan	 

 

	

Terms and Conditions:	
        This Opportunity Registration
        is subject to the terms and conditions of the Strategic Alliance Agreement between Pareteum and Artilium dated October
        __, 2017, except insofar as any terms are expressly replaced or amended herein:

         

        In view of the above, in case of termination
        of the referred Strategic Alliance Agreement for any reason or means whatsoever, this Opportunity Registration shall continue in
        full force and effect until the end of its effective term. All the terms and conditions of the Strategic Alliance Agreement that
        are applicable to this Opportunity Registration shall continue to be valid and in force with regards to this Opportunity Registration.

         

        [REPLACED OR AMENDED TERMS GO
        HERE]

         

 

1- In the event of an inconsistency between
the terms of this Opportunity Registration and the terms of the Strategic Alliance Agreement, this Opportunity Registration shall
prevail.

 

2- This Opportunity Registration establishes
exclusivity as between Pareteum and Artilium for twenty four (24) months counted as from the date hereof (the “Exclusivity
Period”).

 

3. The relationship of exclusivity during
the Exclusivity Period is on a per-potential Customer and its related parties basis, and will be extended for the duration of any
subsequent Project Agreement.

 

4. Authorized Signatories: In consideration
of the mutual obligations assumed under the Strategic Alliance Agreement and this Opportunity Registration, the Parties agree to
the terms and conditions of both and represent that this Opportunity Registration is executed by duly authorized representatives
as of the date below.

 

AGREED FOR AND ON BEHALF OF:

 

	Pareteum Corporation	 	Artilium PLC
	 	 	 	 	 
	By:	 	 	By:	 
	 	 	 	 	 
	Name:	 	 	Name:	 
	 	 	 	 	 
	Title:	 	 	Title:	 
	 	 	 	 	 
	Date:	 	 	Date:	 

 

    	 	14 / 14

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