Document:

Exhibit 4.1

 

THIS OPTION AND THE UNDERLYING
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). THEY MAY NOT BE SOLD,
OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO SUCH SECURITIES UNDER THE
ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED OR UNLESS SOLD PURSUANT TO RULE
144 UNDER THE ACT.

 

NET ELEMENT, INC.

 

OPTION TO PURCHASE SHARES OF RESTRICTED
COMMON STOCK

 

September ___, 2015

Void
After September ___, 2020

 

This Certifies
That, for value received, _________________
(the “Investor”), with its principal office located across from such party’s name on the first
page of the Purchase Agreement (as defined below) or its assigns (the “Holder”), is entitled to subscribe
for and purchase from Net Element, Inc., a Delaware corporation (the “Company”),
with its principal office at 3363 NE 163 Street, Suite 705, North Miami Beach, FL 33160, those
Exercise Shares (as defined below) at the Exercise Price (as defined below).

 

This option to purchase
shares of restricted common stock of the Company is issued as part of a series of similar options (collectively, the “Options”)
issued pursuant to the terms of that certain Letter Agreement, dated as of September ___, 2015, by and among the Company, the Investor
and certain other parties thereto (the “Purchase Agreement”). Pursuant to the Purchase Agreement, the
Company is concurrently selling and issuing to Investor certain shares of the Company’s common stock and this option to purchase
shares of restricted common stock of the Company (this “Option”).

 

1.            Definitions.
As used herein, the following terms shall have the following respective meanings:

 

(a)          “Exercise
Period” shall mean the period commencing on the date hereof and ending on September 11, 2020.

 

(b)          “Exercise
Price” shall mean 110% of the closing trading price per one (1) share of the
Company’s common stock (“Common Stock”) reported on The NASDAQ Capital Market on the date
hereof, subject to adjustment pursuant to Section 5 below.

 

(c)          “Exercise
Shares” shall mean _____________ shares of the Common Stock (which
shall be equal to the number of shares set forth opposite Investor’s name on Exhibit A to the Purchase Agreement under the
column “Number of Restricted Options”).

 

2.            Exercise
of Option. The rights represented by this Option may be exercised in whole or in part at any time during the Exercise
Period, by delivery of the following to the Company at its address set forth above (or at such other address as it may designate
by notice in writing to the Holder):

 

(a)          An
executed Notice of Exercise in the form attached hereto;

 

(b)          Payment
of the Exercise Price either (i) in cash or by check, or (ii) by cancellation of indebtedness; and

 

(c)          This
Option.

 

    	1. 

     

    

 

Upon the exercise of
the rights represented by this Option, a certificate or certificates for the Exercise Shares so purchased, registered in the name
of the Holder or persons affiliated with the Holder, if the Holder so designates, shall be issued and delivered to the Holder within
a reasonable time after the rights represented by this Option shall have been so exercised. In the event that this Option is being
exercised for less than all of the then-current number of Exercise Shares purchasable hereunder, the Company shall, concurrently
with the issuance by the Company of the number of Exercise Shares for which this Option is then being exercised, issue a new Option
of like tenor exercisable for the remaining number of Exercise Shares purchasable hereunder.

 

The person in whose
name any certificate or certificates for Exercise Shares are to be issued upon exercise of this Option shall be deemed to have
become the holder of record of such shares on the date on which this Option was surrendered and payment of the Exercise Price was
made, irrespective of the date of delivery of such certificate or certificates, except that, if the date of such surrender and
payment is a date when the stock transfer books of the Company are closed, such person shall be deemed to have become the holder
of such shares at the close of business on the next succeeding date on which the stock transfer books are open.

 

Notwithstanding anything
to the contrary contained in this Option or any other documents, this Option cannot be exercised, and at no time shall the Company
issue shares of Common Stock in connection with any such exercise, if such exercise (counted together with all of the shares of
Common Stock previously issued (i) pursuant to the Purchase Agreement to the Investor and certain other parties to the Purchase
Agreement and (ii) as a result of all other Options’ exercises) would result in the issuance of more than 19.9% of the amount
of issued and outstanding common stock of the Company unless (i) the Company’s stockholders shall have approved the issuance
of shares of common stock in excess of 20%, or (ii) The NASDAQ has provided a waiver of Listing Rule 5635(d).

 

2.1           Net
Exercise. Notwithstanding any provisions herein to the contrary, if the fair market value of one Exercise Share is greater
than the Exercise Price (at the date of calculation as set forth below), in lieu of exercising this Option by payment of cash,
the Holder may elect to receive shares equal to the value (as determined below) of this Option (or the portion thereof being canceled)
by surrender of this Option at the principal office of the Company together with the properly endorsed Notice of Exercise in which
event the Company shall issue to the Holder a number of Exercise Shares computed using the following formula:

 

X = Y * (A-B)

A

 

	Where	X =	the number of Exercise Shares to be issued to the Holder
	 	 	 
	 	Y =	the number of Exercise Shares purchasable under this Option or, if only a portion of this Option is being exercised, the portion of this Option being canceled (at the date of such calculation)
	 	 	 
	 	A =	the fair market value of one Exercise Share (at the date of such calculation)
	 	 	 
	 	B =	Exercise Price (as adjusted to the date of such calculation)

 

    	2. 

     

    

 

3.           Covenants
of the Company.

 

3.1           Covenants
as to Exercise Shares. The Company covenants and agrees that all Exercise Shares that
may be issued upon the exercise of the rights represented by this Option will, upon issuance, be validly issued and outstanding,
fully paid and nonassessable, and free from all taxes, liens and charges with respect to the issuance thereof. The Company further
covenants and agrees that the Company will at all times during the Exercise Period, have authorized and reserved, free from preemptive
rights, a sufficient number of Exercise Shares to provide for the exercise of the rights represented by this Option. If at any
time during the Exercise Period the number of authorized but unissued Exercise Shares shall not be sufficient to permit exercise
of this Option, the Company will take such corporate action as may, in the opinion of its counsel, be necessary to increase its
authorized but unissued Exercise Shares to such number of shares as shall be sufficient for such purposes.

 

4.           Representations
of Holder.

 

4.1           Acquisition
of Option for Personal Account. The Holder represents and warrants that Holder is acquiring
this Option and the Exercise Shares solely for Holder’s account for investment and not with a view to or for sale or distribution
of said Option or Exercise Shares or any part thereof. The Holder also represents that the entire legal and beneficial interests
of this Option and Exercise Shares the Holder is acquiring is being acquired for, and will be held for, Holder’s account
only.

 

4.2           Securities
Are Not Registered.

 

(a)          The
Holder understands that this Option and the Exercise Shares have not been registered under the Act on the basis of an applicable
exemption from such registration. The Holder realizes that the basis for the exemption may not be present if, notwithstanding Holder’s
representations, the Holder has a present intention of acquiring the securities for a fixed or determinable period in the future,
selling (in connection with a distribution or otherwise), granting any participation in, or otherwise distributing the securities.
The Holder has no such present intention.

 

(b)          The
Holder recognizes that this Option and the Exercise Shares must be held indefinitely unless they are subsequently registered under
the Act or an exemption from such registration is available. The Holder recognizes that the Company has no obligation to register
this Option or the Exercise Shares of the Company, or to comply with any exemption from such registration.

 

(c)          The
Holder is aware that neither this Option nor the Exercise Shares may be sold pursuant to Rule 144 adopted under the Act unless
certain conditions are met, including, among other things, the existence of a public market for the shares, the availability of
certain current public information about the Company, the resale following the requirements of Rule 144. 

 

4.3           Economic
Risk and Protection of Interest. 

 

(a)          The
Holder has substantial experience in evaluating and investing in private placement transactions of securities in companies similar
to the Company so that Holder is capable of evaluating the merits and risks of Holder’s investment in the Company and has
the capacity to protect Holder’s own interests. 

 

(b)          The
Holder represents that by reason of Holder’s, or of Holder’s management’s, business or financial experience,
the Holder has the capacity to protect Holder’s own interests in connection with the transactions contemplated herein. Further,
the Holder is aware of no publication of any advertisement in connection with the transactions contemplated herein.

 

4.4           Accredited
Investor. The Holder represents that Holder is an “accredited investor”
within the meaning of Regulation D under the Act.

 

4.5           Corporate
Information. The Holder has had the full and complete opportunity to discuss the Company’s
business, management and financial affairs with directors, officers and management of the Company and has had the full and complete
opportunity to review the Company’s operations and facilities. The Holder has also had the opportunity to ask questions of
and receive answers from, the Company and its management regarding the terms and conditions herein.

 

    	3. 

     

    

 

4.6           Residence.
If the Holder is an individual, then the Holder resides in the state or province identified in the address of the Holder set forth
below; if the Holder is a partnership, corporation, limited liability Company or other entity, then the office or offices of the
Holder in which Holder’s investment decision was made is located at the address or addresses of the Holder set forth herein.

 

4.7           Disposition
of Option and Exercise Shares.

 

(a)          The
Holder further agrees not to make any disposition of all or any part of this Option or Exercise Shares in any event unless and
until:

 

(i)          The
Company shall have received a letter secured by the Holder from the Securities and Exchange Commission stating that no action will
be recommended to the Commission with respect to the proposed disposition;

 

(ii)         There
is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance
with said registration statement; or

 

(iii)        The
Holder shall have notified the Company of the proposed disposition and shall have furnished the Company with a detailed statement
of the circumstances surrounding the proposed disposition, and if requested by the Company or its transfer agent, the Holder shall
have furnished the Company and/or its transfer agent with an opinion of counsel for the Holder to the effect that such disposition
will not require registration of such Option or Exercise Shares under the Act or any applicable state securities laws.

 

(b)          The
Holder understands and agrees that all certificates evidencing the shares to be issued to the Holder may bear the following legend:

 

THE SECURITIES REPRESENTED BY
THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE
SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT
FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS, OR (B) AN OPINION OF COUNSEL,
IN A REASONABLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR APPLICABLE STATE SECURITIES LAWS, OR (II)
UNLESS SOLD PURSUANT TO RULE 144 UNDER SAID ACT.

 

5.          Adjustment
of Exercise Price and Number of Exercise Shares. In the event of changes in the series of equity securities of the Company
comprising the Exercise Shares by reason of stock dividends, splits, recapitalizations, reclassifications, combinations, conversions
or exchanges of shares, separations, reorganizations, liquidations, or the like, the number and class of Exercise Shares available
under this Option in the aggregate and the Exercise Price shall be correspondingly adjusted to give the Holder of this Option,
on exercise for the same aggregate Exercise Price, the total number, class, and kind of shares as the Holder would have owned had
this Option been exercised prior to the event and had the Holder continued to hold such shares until after the event requiring
adjustment. The form of this Option need not be changed because of any adjustment in the number of Exercise Shares subject to this
Option.

 

    	4. 

     

    

 

6.          Fractional
Shares. No fractional shares shall be issued upon the exercise of this Option as a consequence of any adjustment pursuant
hereto. All Exercise Shares (including fractions) issuable upon exercise of this Option may be aggregated for purposes of determining
whether the exercise would result in the issuance of any fractional share. If, after aggregation, the exercise would result in
the issuance of a fractional share, the Company shall, in lieu of issuance of any fractional share, pay the Holder otherwise entitled
to such fraction a sum in cash equal to the product resulting from multiplying the then current fair market value of an Exercise
Share by such fraction.

 

7.          Transfer
of Option and Exercise Shares. Subject to applicable laws and the restriction on transfer set forth on the first page
of this Option, this Option and all rights hereunder are transferable, by the Holder in person or by its duly authorized attorney,
upon delivery of this Option and the form of assignment attached hereto to any transferee designated by Holder. The transferee
shall sign an investment letter in form and substance satisfactory to the Company.

 

8.          No
Stockholder Rights. This Option in and of itself shall not entitle the Holder to any voting rights or other rights as
a stockholder of the Company.

 

9.          Lost,
Stolen, Mutilated or Destroyed Option. If this Option is lost, stolen, mutilated or destroyed, the Company may, on such
terms as to indemnity or otherwise as it may reasonably impose (which shall, in the case of a mutilated Option, include the surrender
thereof), issue a new Option of like denomination and tenor as the Option so lost, stolen, mutilated or destroyed. Any such new
Option shall constitute an original contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated
or destroyed Option shall be at any time enforceable by anyone.

 

10.         Notices,
etc. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon
personal delivery to the party to be notified, (b) when sent by confirmed facsimile or electronic mail if sent during normal
business hours of the recipient, if not, then on the next business day, (c) five (5) days after having been sent by registered
or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized
overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the
Company at the address listed on the signature page and to Holder at Holder’s address listed in the first paragraph hereto,
or at such other address as the Company or Holder may designate by ten (10) days advance written notice to the other parties hereto.

 

11.         Acceptance.
Receipt of this Option by the Holder shall constitute acceptance of and agreement to all of the terms and conditions
contained herein.

 

12.         Governing
Law. This Option and all rights, obligations and liabilities hereunder shall be governed by and construed under the
laws of the State of Delaware in all respects as such laws are applied to agreements among Delaware residents entered into and
performed entirely within Delaware. THE COMPANY AND THE HOLDER HEREBY WAIVE THEIR RIGHT TO A TRIAL BY JURY WITH RESPECT TO DISPUTES
ARISING UNDER THIS OPTION AND CONSENT TO A BENCH TRIAL WITH THE APPROPRIATE JUDGE ACTING AS THE FINDER OF FACT.

 

[SIGNATURE PAGE FOLLOWS]

 

    	5. 

     

    

 

In
Witness Whereof, the Company has caused this Option to Purchase Common Stock to be executed by its duly authorized officer
as of the date first set forth above.

 

	 	Net Element, Inc.
	 	 
	 	By:	 
	 	Name: 	 	 
	 	Title:	 	 

 

     

     

    

 

NOTICE OF EXERCISE

 

TO:
Net Element, Inc.

 

(1)          ̈         The
undersigned hereby elects to purchase ________ shares of the Common Stock of Net Element, Inc. (the “Company”)
pursuant to the terms of the attached Option, and tenders herewith payment of the exercise price in full, together with all applicable
transfer taxes, if any.

 

 ̈         The
undersigned hereby elects to purchase ________ shares of the Common Stock of Net Element, Inc. (the “Company”)
pursuant to the terms of the net exercise provisions set forth in Section 2.1 of the attached Option, and shall tender payment
of all applicable transfer taxes, if any.

 

(2)         Please
issue a certificate or certificates representing said shares of Common Stock in the name of the undersigned or in such other
name as is specified below:

 

	 	 	 
	 	(Name)	 
	 	 	 
	 	 	 
	 	 	 
	 	(Address)	 

 

(3)         The
undersigned represents that (i) the aforesaid shares of Common Stock are being acquired for the account of the undersigned
for investment and not with a view to, or for resale in connection with, the distribution thereof and that the undersigned has
no present intention of distributing or reselling such shares; (ii) the undersigned is aware of the Company’s business affairs
and financial condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision
regarding its investment in the Company; (iii) the undersigned is experienced in making investments of this type and has such knowledge
and background in financial and business matters that the undersigned is capable of evaluating the merits and risks of this investment
and protecting the undersigned’s own interests; (iv) the undersigned understands that the shares of Common Stock issuable
upon exercise of the Option have not been registered under the Securities Act of 1933, as amended (the “Securities
Act”), by reason of a specific exemption from the registration provisions of the Securities Act, which exemption
depends upon, among other things, the bona fide nature of the investment intent as expressed herein, and, because such securities
have not been registered under the Securities Act, they must be held indefinitely unless subsequently registered under the Securities
Act or an exemption from such registration is available; (v) the undersigned is aware that the aforesaid shares of Common Stock
may not be sold pursuant to Rule 144 adopted under the Securities Act unless certain conditions set forth in Rule 144 are met;
(vi) the undersigned is an “accredited investor” within the meaning of Regulation D under the Securities Act; and (vii)
the undersigned agrees not to make any disposition of all or any part of the aforesaid shares of Common Stock unless and
until there is then in effect a registration statement under the Securities Act covering such proposed disposition and such disposition
is made in accordance with said registration statement, or the undersigned has provided the Company and its transfer agent with
an opinion of counsel stating that such registration is not required.

 

	 	 	 
	(Date)	 	(Signature)
	 	 	 
	 	 	 
	 	 	 (Print name)

 

     

     

    

 

ASSIGNMENT FORM

 

(To assign the foregoing Option,
execute this form and supply required information. Do not use this form to purchase shares.)

 

For
Value Received, the foregoing Option and all rights evidenced thereby are hereby assigned to

 

	Name: 	 

(Please Print)

 

	Address: 	 

(Please Print)

 

Dated: __________, 20__

 

	Holder’s	 	 
	Signature: 	 	 
	 	 	 
	Holder’s	 	 
	Address: 	 	 

 

NOTE: The signature to this Assignment
Form must correspond with the name as it appears on the face of the Option, without alteration or enlargement or any change whatever.
Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority
to assign the foregoing Option.Exhibit 10.1

 

LetTER
Agreement

 

VIA
EMAIL

 

Star Equities, LLC

3363 NE 163rd St., Suite 705

North Miami Beach, FL 33160

 

Steven Wolberg

3363 NE 163rd St., Suite 705

North Miami Beach FL 33160

 

William Healy

16W281 83rd Street, Suite B 

Burr Ridge, IL 60527

 

Kenges Rakishev

c/o SAT & Company 

241 Mukanova Street 

Almaty Kazakhstan 050008

 

Vladimir Sadovskiy

3363 NE 163 Street, Suite 705

North Miami Beach, FL 33160

 

David Rozinov

210 Central Park South

23A

New York, NY 10019

 

Re: Equity Investment
for Funding of Net Element

 

This letter agreement is dated as of September
11, 2015 (the "Effective Date"). The parties hereby agree as follows:

 

		1.	In order to meet Net Element, Inc.’s, a Delaware corporation ("NETE"), current
working capital requirements of up to $2,500,000, Star Equities, LLC, Steven Wolberg, William Healy, Kenges Rakishev, Vladimir
Sadovskiy, David Rozinov and such other additional investors that become party hereto and execute this letter agreement (each,
an “Investor” and, collectively, the “Investors”) have agreed to purchase, and NETE has agreed
to issue to the Investors, on or as soon as practically possible after the Effective Date:

 

		(i)	such number of restricted (i.e., issued in reliance on an applicable exemption from registration
under the Securities Act of 1933, as amended (the “Securities Act”), and any disposition of such shares to be
subject to Rule 144 of the Securities Act) shares of common stock of NETE (“Common Stock”), as set forth on
Exhibit A hereto next to the name of each Investor, at the per share purchase price equal to the closing trading price of
Common Stock on July 29, 2015, the date when the Investors committed to the transactions contemplated in this Letter Agreement
subject to the approval of the Board of Directors of NETE or a committee thereof; and

 

    

     

    

 

		(ii)	such number of options to purchase restricted shares of Common Stock as set forth on Exhibit
A hereto next to the name of each Investor (collectively, the “Restricted Options”). Each Restricted Option
shall expire on the fifth (5th) annual anniversary of the Effective Date and shall be exercisable (prior to its expiration)
into one (1) Restricted Share at the exercise price equal 110% of the closing trading price per one (1) share of Common Stock reported
on The NASDAQ Capital Market on the Effective Date.

 

		2.	The consideration for such restricted shares of Common Stock (the restricted shares of Common Stock
to be issued to the Investors are collectively referred to herein as the “Restricted Shares”) and the Restricted
Options issued to the Investors hereunder shall be Investor’s funding to NETE the purchase price set forth on Exhibit
A hereto next to the name of each Investor. Subject to the limitation set forth in the last sentence of this Section 2, the
aggregate amount of the investments hereunder by all Investors shall be up to $2,500,000 (with a minimum aggregate investment by
all Investors to be at least $1,000,000). Notwithstanding anything to the contrary contained in this letter agreement or any other
documents, at no time shall NETE issue shares of Common Stock if such transaction would result in the issuance of more than 19.9%
of the amount of issued and outstanding common stock of NETE unless (i) Net Element, Inc.’s stockholders shall have approved
the issuance of shares of common stock in excess of 20%, or (ii) NASDAQ has provided a waiver of Listing Rule 5635(d).

 

		3.	The Investors understand and acknowledge that the issuance of the Restricted Shares hereunder shall
be unregistered in reliance on the applicable exemption under the federal securities laws, and any dispositions of the Restricted
Shares shall be subject to Rule 144 under the Securities Act. In connection with the issuance of the Restricted Shares and as a
condition to the issuance of the Restricted Shares, each Investor hereby provides to NETE the representations and warranties set
forth in Exhibit B hereto.

 

		4.	All notices, requests, demands, and other communications required or permitted hereunder shall
be in writing and shall be deemed to have been duly given (i) when delivered by verifiable facsimile or electronic mail transmission,
unless such delivery is made on a day that is not a business day, in which case such delivery will be deemed to be made on the
next succeeding business day or (ii) on the next business day after timely delivery to a reputable overnight courier, to the parties
at the addresses set forth on the first page hereto.

 

		5.	This letter agreement constitutes the entire agreement among the parties hereto pertaining to the
subject matter hereof and supersedes all prior agreements and understandings pertaining thereto. This letter agreement may not
be amended or modified in any respect, except by the written agreement of the parties hereto. No party hereto may, without the
prior written consent of the other party hereto, assign or otherwise transfer, in whole or in part, any of its rights and obligations
under this letter agreement. Except as expressly provided for herein, nothing in this letter agreement shall confer any rights
upon any person that is not a party hereto or the successor or permitted assignee of a party to this letter agreement.

 

    	 	2	 

     

    

 

		6.	This letter agreement shall be governed by, and shall be construed, interpreted and enforced in
accordance with the laws of the State of Florida without regard to its choice of law provisions that would require the application
of the law of another jurisdiction.

 

		7.	This letter agreement may be executed and delivered (including by facsimile or electronic mail
transmission) in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed
and delivered shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. Copies
of executed counterparts transmitted by telecopy or other electronic transmission service shall be considered original executed
counterparts.

 

[Signatures are on next page.]

 

    	 	3	 

     

    

 

Please indicate your consent to the terms
of this letter agreement by signing and dating this letter agreement and returning it to the undersigned.

 

	 	NET ELEMENT, INC.
	 	 	 
	 	By:	/s/ Oleg Firer
	 	Name:	Oleg Firer
	 	Title:	Chief Executive Officer

 

AGREED AND ACCEPTED BY:

 

INVESTORS:

 

STAR EQUITIES, LLC

 

	By:	/s/ Oleg Firer	 
	Name:	Oleg Firer	 
	Title:	Managing Member	 

 

	/s/ Steven Wolberg	 
	STEVEN WOLBERG	 
	 	 
	/s/ William Healy	 
	WILLIAM HEALY	 
	 	 
	/s/ Kenges Rakishev	 
	KENGES RAKISHEV	 
	 	 
	/s/ Vladimir Sadovskiy	 
	VLADIMIR SADOVSKIY	 
	 	 
	/s/ David Rozinov	 
	DAVID ROZINOV	 

 

    	 	4	 

     

    

 

ADDITIONAL INVESTORS SIGNATURE PAGE(S):

 

_______________________________

Name: _____________________

Amount of Investment in Dollars: ________________________

Amount of Restricted Shares corresponding to the above investment:
_____________________

Amount of Restricted Options corresponding to the above investment:
____________________

 

    	 	5	 

     

    

 

Exhibit
A

 

	Investor	 	Number
    of 
restricted 
shares	 	 	Purchase
    
price per 
each 
restricted 
share	 	 	Number
    of 
restricted 
OPTIONS	 	 	Aggregate
    
Purchase price to 
be funded to nete 
by investor	 
	Star Equities, LLC	 	 	2,142,857	 	 	$	0.14	 	 	 	2,142,857	 	 	$	300,000	 
	Steven Wolberg	 	 	357,143	 	 	$	0.14	 	 	 	357,143	 	 	$	50,000	 
	William Healy	 	 	714,286	 	 	$	0.14	 	 	 	714,286	 	 	$	100,000	 
	Kenges Rakishev	 	 	7,142,857	 	 	$	0.14	 	 	 	7,142,857	 	 	$	1,000,000	 
	Vladimir Sadovskiy	 	 	285,714	 	 	$	0.14	 	 	 	285,714	 	 	$	40,000	 
	David Rozinov	 	 	714,286	 	 	$	0.14	 	 	 	714,286	 	 	$	100,000	 
	TOTAL:	 	 	11,357,143

Restricted Shares	 	 	 	 	 	 	 	11,357,143

Restricted Options	 	 	$	1,590,000	 

 

    	 	6	 

     

    

 

EXHIBIT B

 

Investors’ Representations and
Warranties

 

As a condition to the issuance of the Restricted
Shares and the Restricted Options (collectively, the “Restricted Securities”) to each Investor, such Investor
hereby represents and warrants to NETE as follows:

 

Investor acknowledges that the issuance
and transfer to it of the Restricted Securities has not been reviewed by the United States Securities and Exchange Commission or
any state securities regulatory authority because such transaction is intended to be exempt from the registration requirements
of the Securities Act and applicable state securities laws. Investor understands that each of NETE is relying upon the truth and
accuracy of, and Investor’s compliance with, the representations, warranties, acknowledgments and understandings of Investor
set forth in this letter agreement in order to determine the availability of such exemptions and the eligibility of Investor to
acquire the Restricted Securities.

 

Investor represents that the Restricted
Securities are being acquired by Investor for its own account, for investment purposes only and not with a view to or for distribution
or resale to others in contravention of the registration requirements of the Securities Act or applicable state securities laws.
Investor agrees that it will not sell or otherwise transfer any of the Restricted Securities unless such transfer or resale is
registered under the Securities Act and applicable state securities laws or unless exemptions from such registration requirements
are available.

 

Investor has such knowledge and experience
in financial and business matters that it is capable of evaluating the merits and risks of Investor’s investment in NETE
through Investor’s acquisition of the Restricted Securities. Investor is able to bear the economic risk of its investment
in NETE through Investor’s acquisition of the Restricted Securities for an indefinite period of time. At the present time,
Investor can afford a complete loss of such investment and has no need for liquidity in such investment.

 

Investor recognizes that its acquisition
of the Restricted Securities involves a high degree of risk in that: (a) an investment in NETE is highly speculative and only Investor
who can afford the loss of their entire investment should consider investing in NETE and securities of NETE; (b) transferability
of the Restricted Securities is limited; (c) NETE has experienced recurring losses and it must raise substantial additional capital
in order to continue operating its business; (d) subsequent equity financings will dilute the ownership and voting interests of
Investor and equity securities issued by NETE to other persons or entities may have rights, preferences or privileges senior to
the rights of Investor; (e) any debt financing that may be obtained by NETE must be repaid regardless of whether NETE generates
revenues or cash flows from operations and may be secured by substantially all of NETE’s assets; (f) there is absolutely
no assurance that any type of financing on terms acceptable to NETE will be available to NETE or otherwise obtained by NETE; and
(g) if NETE is unable to obtain additional financing or is unable to obtain additional financing on terms acceptable to it, then
NETE may be unable to implement its business plans or take advantage of business opportunities, which could have a material adverse
effect on NETE’s business prospects, financial condition and results of operations and may ultimately require NETE to suspend
or cease operations.

 

    	 	7	 

     

    

 

Investor acknowledges that he has prior
investment experience and that he recognizes and fully understands the highly speculative nature of Investor’s investment
in NETE pursuant to its acquisition of the Restricted Securities. Investor acknowledges that he, either alone or together with
its professional advisors, has the capacity to protect its own interests in connection with this transaction.

 

Investor acknowledges that it has carefully
reviewed the this letter agreement and NETE’s filings with the United States Securities and Exchange Commission, which are
available on the Internet at www.sec.gov, all of which documents and filings Investor acknowledges have been made available to
it. Investor has been given the opportunity to ask questions of, and receive answers from, NETE concerning this letter agreement,
the issuance to it of the Restricted Securities, and NETE’s business, operations, financial condition and prospects, and
Investor has been given the opportunity to obtain such additional information, to the extent NETE possesses such information or
can acquire it without unreasonable effort or expense, necessary to verify the accuracy of same as Investor reasonably desires
in order to evaluate its investment in NETE pursuant its acquisition of the Restricted Securities. Investor fully understands all
of such documents and filings and has had the opportunity to discuss any questions regarding any of such documents or filings with
its legal counsel and tax, investment and other advisors. Notwithstanding the foregoing, Investor acknowledges and agrees that
the only information upon which it has relied upon in executing this letter agreement is the information set forth in this letter
agreement and NETE’s filings with the United States Securities and Exchange Commission. Investor acknowledges that it has
received no representations or warranties from NETE, its employees, agents or attorneys in making this investment decision. Investor
acknowledges that it does not desire to receive any further information from NETE or any other person or entity in order to make
a fully informed decision of whether or not to execute this letter agreement and accept the Restricted Securities.

 

Investor acknowledges that the issuance
to it of the Restricted Securities may involve tax consequences to Investor. Investor acknowledges and understands that Investor
must retain its own professional advisors to evaluate the tax and other consequences of Investor’s receipt of the Restricted
Securities.

 

Investor understands and acknowledges that
NETE is under no obligation to register the resale of the Restricted Securities under the Securities Act or any state securities
laws. Investor agrees that NETE may, if it desires, permit the transfer of the Restricted Securities out of Investor’s name
only when Investor’s request for transfer is accompanied by an opinion of counsel reasonably satisfactory to NETE that the
proposed transfer satisfies an applicable exemption from registration requirements under the Securities Act and applicable state
securities laws.

 

Investor understands that the certificate(s)
representing the Restricted Securities shall bear a restrictive legend in substantially the following form (and a stop-transfer
order may be placed against transfer of the Restricted Securities):

 

    	 	8	 

     

    

 

THE SECURITIES REPRESENTED BY
THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE
SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT
FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS, OR (B) AN OPINION OF COUNSEL,
IN A REASONABLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR APPLICABLE STATE SECURITIES LAWS, OR (II)
UNLESS SOLD PURSUANT TO RULE 144 UNDER SAID ACT.

 

The legend set forth above will be removed,
and NETE will issue a certificate without such legend to the holder of the Restricted Securities upon which it is stamped, only
if (a) such Restricted Securities are being sold pursuant to an effective registration statement under the Securities Act, (b)
such holder delivers to NETE an opinion of counsel, in a reasonably acceptable form to NETE, that the disposition of the Restricted
Securities is being made pursuant to an exemption from federal and state registration requirements, or (c) such holder provides
NETE with reasonable assurance that a disposition of the Restricted Securities may be made pursuant to Rule 144 under the Securities
Act without any restriction as to the number of shares acquired as of a particular date that can then be immediately sold.

 

Investor acknowledges that he has a preexisting
personal or business relationship with NETE or one or more of its officers, directors or controlling persons.

 

Investor represents and warrants that he
was not induced to invest in NETE (pursuant to the issuance to it of the Restricted Securities) by any form of general solicitation
or general advertising, including, but not limited to, the following: (a) any advertisement, article, notice or other communication
published in any newspaper, magazine or similar media (including via the Internet) or broadcast over the news or radio; and (b)
any seminar or meeting whose attendees were invited by any general solicitation or advertising.

 

Each Investor’s current address is
set forth on page 1 of the letter agreement.

 

    	 	9

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