Document:

Exhibit 10.1

 

Portions of this exhibit have been omitted pursuant to a request
for confidential treatment filed with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange
Act of 1934. Such portions are marked “[*]” in this document; they have been filed separately with the Commission.

 

June
26, 2012

 

Globalstar Canada Satellite Co. ("Globalstar Canada")

115 Matheson Boulevard West, Suite 100

Mississauga, Ontario, L5R 3L1

Canada

 

Globalstar, Inc. ("Globalstar, Inc.")

300 Holiday Square Blvd.

Covington, Louisiana 70433

Attention: Mr. Jay Monroe

 

Ref: Contract Number GINC-C-08-0390 ("Contract")
between Globalstar Canada and Hughes Network Systems, LLC ("Hughes"), as amended;

Letter Agreement, dated March 21, 2011, as amended
on Oct. 14, 2011 and December 30, 2011 and March 30, 2012 (the "Letter Agreement")

 

Dear Jay:

 

This letter memorializes
the recent discussions regarding certain milestone payments due and payable to Hughes under the Contract and reflects the parties'
further understandings and agreements in respect of the Letter Agreement. The Specified Amount currently owing from Globalstar
Canada to Hughes (excluding accrued interest) is $19,831,729, which includes the remaining $1,277,243 of the January 2011 milestone
payment and the full amounts of the April and July 2011 milestone payments. The deadline stated in the Letter Agreement for repayment
of the Specified Amount is the earlier of [*] and June 29, 2011 (such earlier date, the "Due Date").

 

The parties hereby agree to further amend
the Letter Agreement as follows:

 

·        Globalstar
Canada agrees to pay to Hughes $1,000,000 in two installments, as follows: i) $500,000 no later than July 6, 2012 ("Installment
Payment #1"); and ii) $500,000 no later than August 15, 2012 ("Installment Payment #2"). Both such payments shall
be credited against the January 2011 milestone payment and upon receipt of each such payment, the Specified Amount shall be reduced
by the amount paid.

·        Provided
that Hughes receives Installment Payment #1 no later than July 6, 2012, the Due Date for repayment of the Specified Amount shall
be extended to the earlier of [*] and August 15, 2012.

 

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·        Provided
that Hughes receives Installment Payment #1 no later than July 6, 2012 and receives Installment Payment #2 no later than August
15, 2012, the Due Date for repayment of the Specified Amount shall be further extended to the earlier of [*] and September 28,
2012.

·        Upon
each extension of the Due Date as specified above, the dates specified in Paragraphs 2¬3 of the Letter Agreement shall be extended
to the then-current Due Date, and the associated dates referenced in Paragraph 5 of the Letter Agreement shall be adjusted to the
corresponding days in September 2012 after payment of Installment Payment #1 and October 2012 after payment of Installment Payment
#2, respectively.

·        Prior
to payment of the entire Specified Amount being made to Hughes, neither Globalstar, Inc. nor Globalstar Canada shall pay, or cause
to be paid, directly or indirectly, any amount in respect of capital expenses related to new capital projects not currently contracted
for, or capital projects previously contracted for other than i) the project for the manufacture and launch, together with related
insurance, of the satellites (the "Satellites") already manufactured by Thales, or for which an order has been placed
as of October 14, 2011, pursuant to the Amended and Restated Contract between Globalstar, Inc. and Thales Alenia Space France dated
June 3, 2009 and ii) projects for the development and supply ground network infrastructure to be used with the Satellites under
orders placed prior to October 14, 2011 or under orders valued at no more than $1.5 million.

·        Except
as amended herein, all terms and conditions of the Letter Agreement and Contract shall remain in full force and effect. In the
event of a discrepancy between the terms and conditions contained in this Letter Agreement, as amended, and those contained in
the contract, the terms and conditions contained in this Letter Agreement, as amended, shall prevail.

 

In light of the extensions
contemplated by this letter, the parties agree to revise the program milestones set forth in Exhibit A of the Contract and the
payment milestones set forth in Exhibit C of the Contract. Notwithstanding anything to the contrary in the Contract, until such
time as the Specified Amount has been paid to Hughes and the parties have agreed on revised program milestones and payment milestones,
Hughes shall not be required to order any hardware and materials or deliver any test or production units under the Contract.

 

We would appreciate
the acknowledgement of Globalstar Canada's and Globalstar, Inc's agreement to this letter by having a duly authorized representative
of Globalstar Canada and Globalstar, Inc. sign in the respective signature blocks below.

 

	 	Sincerely,
	 	 
	 	/s/ Sean P. Fleming
	 	 
	 	Sean P. Fleming

 

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AGREED AND ACCEPTED BY:

 

	GLOBALSTAR CANADA	 	GLOBALSTAR INC.
	SATELLITE CO.	 	 
	 	 	 
	/s/ Stephen Drew	 	/s/ James Monroe III
	Signature	 	Signature
	 	 	 
	Stephen Drew	 	James Monroe III
	Name	 	Name
	 	 	 
	Treasurer	 	CEO
	Title	 	Title
	 	 	 
	6/26/12	 	6/26/12
	Date	 	Date

 

    	3Exhibit 10.2

 

Portions of this exhibit have been omitted pursuant to a request
for confidential treatment filed with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange
Act of 1934. Such portions are marked “[*]” in this document; they have been filed separately with the Commission.

 

July 17, 2012

 

Globalstar Inc

Att: Paul Monte

461 SO Milpitas Blvd

Milpitas, CA 95035

 

Subject: Globalstar requested payment delays and "temporary
hold" - Second Extension

 

Dear Paul:

 

In response to your
second request to defer outstanding and accumulated payments for the Globalstar CN Program, your contract number GINC-C-08-0400
(the "Agreement"), this letter acknowledges the agreement by Ericsson to defer the payments for achieved and upcoming
Payment Milestones as defined in the Agreement and in the letter agreement PJR0311-002 dated March 7, 2011. Specifically this deferral
consists of:

 

[*]

 

$1,922,658 Total owed Feb 23rd 

 

[*]

 

Total additional owed before June 28th: $2,235,305

 

Total deferral: $4,157,963

 

Subject to your consent as indicated below, Ericsson Inc. (“Ericsson”')
would agree as follows:

 

		(a)	Assuming the Payment Milestone is completed and invoiced, Globalstar shall pay any unpaid milestone
payments in Exhibit C and C-1 of the Agreement (referred to as "Deferred Payments") upon the earlier of the completion
of a third party source of financing or February 1st, 2013. Upon such payment, Globalstar and Ericsson will use good faith efforts
to come to a mutual agreement on a revised milestone payment schedule and amend Exhibits C and C1 of the Agreement.

 

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		(b)	In consideration for agreeing to the Deferred Payments, Globalstar shall pay six and a half percent
(6.5%) per annum interest on the Deferred Payments. Interest shall begin to accrue after the 31st day of acceptance of the completion
of any Payment Milestone and shall be paid at the same time as the Deferred Payment is made.

 

		(c)	For any material event, such as change of ownership, bankruptcy filing, material investment, shareholder
or ownership changes affecting control (i.e. the ownership and/or ability to vote more than 50% of the total shares), breach of
obligations, failure to pay debts, and the like, the Deferred Payments become due and payable immediately.

 

		(d)	Due to delays by Globalstar in delivering necessary Customer Furnished Equipment for the Core Network
Program (both as defined in the Agreement), the only work that will be performed by Ericsson between now and when the project is
resumed under a new mutually agreed milestone schedule (the "Temporary Hold Period") will be the completion of the following
agreed punch list items for the Milpitas lab:

 

[*]

 

Should Globalstar require
installation (including upgrading the software on all boxes to the same version that is on the Milpitas lab), and integration of
the Clifton Site 1 during the Temporary Hold Period, Ericsson will initiate such work within 4 weeks of Globalstar satisfying the
following 3 requirements:

 

		1.	Globalstar notifies Ericsson that the site is ready for integration including completion of Globalstar's
agreed deliverables such as Power; and

		2.	Ericsson's receipt of a written request for the integration work; and

		3.	[*]

 

    	2

    	 

    

 

		(e)	Globalstar understands and agrees that the above “temporary hold” will cause a delay
to the Core Network Program, and that Ericsson cannot guarantee a day-for-day schedule delay nor can Ericsson commit to re-staffing
the project with the same individuals as have been assigned to-date when the Core Network Program resumes as these individuals
may have been assigned to other long term Ericsson projects. Ericsson will use commercially reasonable efforts to limit any such
delay caused by such “temporary hold” to a period of time equal to the length of the Temporary Hold Period plus four
months. Ericsson will not be obligated to perform any work until the project is resumed and a new milestone schedule is agreed.
Upon Ericsson's resumption of work, Globalstar agrees to pay Ericsson a project re-setup fee of $250,000.00.

 

Globalstar and Ericsson agree that
the delays in the Core Network Program have created issues regarding the obsolescence of certain program features [*]. Ericsson
will present an alternative solution for [*] by July 31, 2012. Upon the signing of this letter agreement, Globalstar and Ericsson
agree to continue the good faith technical discussions agreed to in the letter agreement dated March 8, 2012 relating to [*]. Globalstar
agrees to forego the requirements for [*] previously committed to and Ericsson agrees to credit Globalstar for the elimination
of these requirements. Globalstar and Ericsson will use good faith efforts to come to mutual agreement on the technical solution
for [*] by August 31, 2012. However, Ericsson will not commit to deliver the agreed solution on a particular schedule due to the
delays in payment as outlined in a) above. Globalstar and Ericsson agree to enter into good faith commercial discussions regarding
the ordering and delivery of the revised [*] functionality and any commercial impacts following Ericsson's receipt of the Deferred
Payments. At that time, Globalstar and Ericsson will execute a contract amendment reflecting the agreed solution for [*] and the
elimination of [*]. Should the parties be unable to agree on the above technical solution by the August 31, 2012 deadline, then
either Globalstar or Ericsson may choose to terminate the Agreement. Upon such termination due to a failure to agree on the foregoing
issues, Globalstar would be required to pay the Deferred Payments and amounts set forth in paragraph b) above (with appropriate
credit adjustments to Globalstar for the elimination of [*]) in final settlement of the Agreement. Thereafter, neither party will
have any liability whatsoever under the Agreement.

 

		(f)	This letter agreement will become effective upon Globalstar signature below and Globalstar payment
to Ericsson on or before July 24 of $850,000. Additionally, Globalstar will pay Ericsson $100,000 immediately when the punch list
items 1 through 4 for the Milpitas lab integration referenced in paragraph d) above are completed. The payment of $950,000, when
paid, will be applied as follows: [*]. The letter agreement between the parties dated March 8, 2012 is hereby superseded by this
letter agreement.

 

		(g)	Globalstar requests the following payment modifications:

 

		1.	If Globalstar has not paid Ericsson the amount due, together with interest and any other amounts
owing under the Agreement as of February 1st, 2013, Globalstar may terminate the Agreement for convenience by delivering such written
notice of the termination and agreeing to make a final payment of $10,000,000 ("Final Payment") to Ericsson.

 

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		2.	If Globalstar cancels the Agreement for convenience on February 1st, 2013, then Globalstar
shall make the Final Payment either: (a) in cash not later than February 15, 2013 or (b) subject to paragraph 4 below, in Globalstar
common stock (NASDAQ: GSAT, the GSAT Stock; not later than February 15, 2013. Globalstar shall provide written notice of such its
request to pay in cash or GSAT Stock on February 1, 2013.

 

		3.	If payment is to be made in GSAT Stock, such GSAT Stock shall be registered and freely tradable,
free and clear of any liens, encumbrances or other restrictions. The number of shares delivered by Globalstar to Ericsson shall
be equal to the Final Payment plus 5%, divided by the volume weighted average price of GSAT for the 20 trading days immediately
prior to (but not including) the date of delivery of such shares. If Globalstar requests to make the Final Payment in GSAT Stock,
Ericsson shall have the option (exercisable by written notice delivered on or before February 10, 2013) either to accept such GSAT
Stock (including the additional 5% mentioned in the above paragraph) or to receive the Final Payment in cash from the sale of such
GSAT stock by Globalstar and/or from other sources who will then remit the full amount of the Final Payment. Under no circumstance
would Globalstar remit less than the total Final Payment amount.

 

		(h)	Globalstar will pay Ericsson a progress payment of an additional $650.000 on or before September
24. 2012. [*]. Should this payment not be received on or before September 24, 2012, the Agreement is automatically terminated.
Upon such termination, Globalstar would be required to pay the Deferred Payments and amounts set forth in paragraph b) above (with
appropriate credit adjustments to Globalstar for the elimination of [*]) in final settlement of the Agreement. Thereafter, neither
party will have any liability whatsoever under the Agreement.

 

		(i)	Except as modified hereby, the terms and conditions of the Agreement will continue on in full force
and effect.

 

If Globalstar concurs with the foregoing, please execute a copy
of this letter and return it to attention at Ericsson.

 

	 	Sincerely,
	 	 
	 	/s/ Johan Westerberg
	 	ERICSSON INC.
	 	Johan Westerberg
	 	Vice President Eastern Region

 

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Agreed and accepted by Ericsson Inc and Globalstar Inc:

 

	Ericsson Inc.	 	Globalstar Inc.
	 	 	 
	/s/ Johan R. Westerberg	 	/s/ Paul A. Monte
	Signature	 	Signature
	 	 	 
	Johan R. Westerberg	 	Paul A. Monte
	Name	 	Name
	 	 	 
	Vice President	 	Vice President
	Title	 	Title
	 	 	 
	7/23/2012	 	7/23/2012
	Date	 	Date

 

    	5

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