Document:

Exhibit 10.1

 

WARRANT EXERCISE AGREEMENT

 

This Warrant Exercise
Agreement (this “Agreement”), dated as of July 17, 2017, is by and between Pareteum Corporation, a Delaware corporation
(the “Company”), and the undersigned holder (the “Holder”) of warrants to purchase shares
of the Company’s common stock, par value $0.00001 per share (the “Common Stock”).

 

WHEREAS, the Holder
beneficially owns in the aggregate the number of warrants to purchase Common Stock at an exercise price of $1.87 per share that
are exercisable until March 15, 2022, as set forth on the Holder's signature page hereto (the “Original Warrants”).

 

WHEREAS, the Holder
desires to exercise such Original Warrants in the amounts set forth on the applicable signature pages hereto and, immediately prior
to such exercise and in consideration of the Holder’s exercise of such Original Warrants, the Company has agreed to lower
the exercise price of the Original Warrants to $1.00 per share and issue the Holder, in addition to the shares of Common Stock
to which such exercising Holder is entitled pursuant to the exercise of the Original Warrants, an equal number of new warrants
as the number of Original Warrants being exercised in the form attached hereto as Exhibit A (the “New Warrants”).
The shares of Common Stock underlying the Original Warrants are referred to herein as the “Warrant Shares”.
The shares of Common Stock underlying the New Warrants are referred to herein as the “New Warrant Shares” and
collectively with the New Warrants and Warrant Shares, the ”Securities”.

 

NOW, THEREFORE, IN
CONSIDERATION of the mutual covenants contained in this Agreement, and for good and valuable consideration the receipt and adequacy
of which are hereby acknowledged, the Holder and the Company agree as follows:

 

ARTICLE I

DEFINITIONS

 

Section 1.1 Definitions.
Capitalized terms not defined in this Agreement shall have the meanings ascribed to such terms in the New Warrants.

 

ARTICLE II

EXERCISE OF ORIGINAL WARRANTS

 

Section 2.1 Exercise of Warrants.
(a) Subject to the conditions in Section 2(e) of each of the Original Warrants, by executing this Agreement, the Company and the
Holder hereby agree that the Holder shall be deemed to have exercised the number of Original Warrants set forth on the signature
page hereto at an amended exercise price per share equal to $1.00 per share, for aggregate cash proceeds to the Company in the
amount set forth on the Holder’s signature page hereto, and otherwise pursuant to the terms of the Original Warrants. The
Holder shall deliver the aggregate cash exercise price for such Original Warrants to the bank account set forth on the Company’s
signature page hereto within two Trading Days after the date hereof and the Company shall deliver the Warrant Shares to the Holder
via the Depository Trust Company Deposit or Withdrawal at Custodian system pursuant to the terms of the Original Warrants, but
pursuant to DWAC instructions set forth on the Holder’s signature page hereto. The date of the closing of the exercise of
the Original Warrants shall be referred to as the “Closing Date”.

 

(b) On or prior to
the Closing Date, the Company shall deliver or cause to be delivered to each Holder the following:

(i)          this
Agreement duly executed by the Company;

 

(ii)         a
legal opinion of Company Counsel mutually agreed upon by the Company and the Holder;

 

(iii)        a
copy of the irrevocable instructions to the Transfer Agent instructing the Transfer Agent to deliver, on an expedited basis, the
number of Warrant Shares set forth on the signature page hereto by crediting the account of
the Holder’s prime broker with The Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”);
and 

 

     

     

    

 

(iv)        a
New Warrant registered in the name of such Holder to purchase up to a number of shares of Common Stock equal to 100% of the shares
issued in connection with the exercise of the Original Warrant, which New Warrant shall be exercisable following the six month
anniversary of the issuance thereof, be exercisable for five (5) years thereafter and have an exercise price equal to $1.39, subject
to adjustment therein (such New Warrant may be delivered within one Trading Day of the Closing Date).

 

Section 2.2 [Intentionally
Omitted]. 

 

Section 2.3 Legends; Restricted
Securities. (a) The Holder understands that the New Warrants and the New Warrant Shares are not, and may never be, registered
under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state and,
accordingly, each certificate, if any, representing such securities shall bear a legend substantially similar to the following:

 

“THIS
SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE
UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY,
MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS. THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT WITH A REGISTERED
BROKER-DEALER OR OTHER LOAN WITH A FINANCIAL INSTITUTION THAT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a)
UNDER THE SECURITIES ACT OR OTHER LOAN SECURED BY SUCH SECURITIES.”

 

(b)  Certificates
evidencing shares of Common Stock underlying the New Warrants shall not contain any legend (including the legend set forth in Section
2.3(a) hereof), (i) while a registration statement covering the resale of such Common Stock is effective under the Securities Act,
(ii) following any sale of such Common Stock pursuant to Rule 144, (iii) if such Common Stock is eligible for sale under Rule 144,
without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such
Common Stock and without volume or manner-of-sale restrictions, (iv) if such Common Stock may be sold under Rule 144 and the
Company is then in compliance with the current public information required under Rule 144 as to such Common Stock, or (v) if such
legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements
issued by the staff of the Securities and Exchange Commission (the “Commission”)). The Company shall cause its
counsel to issue a legal opinion to the transfer agent promptly after the Delegend Date (as defined below) if required by the Company,
the Holder and/or the transfer agent to effect the removal of the legend hereunder, which opinion shall be in form and substance
reasonably acceptable to the Holder. If such Common Stock may be sold under Rule 144 without the requirement for the Company to
be in compliance with the current public information required under Rule 144 or if such legend is not otherwise required under
applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the
Commission) then such Common Stock shall be issued free of all legends. The Company agrees that following the Delegend Date or
at such time as such legend is no longer required under this Section 2.3(b), it will, no later than two (2) Trading Days following
the delivery by the Holder to the Company or the transfer agent of a certificate representing the Common Stock underlying the New
Warrants issued with a restrictive legend (such second Trading Day, the “Legend Removal Date”), deliver or cause
to be delivered to the Holder a certificate representing such shares that is free from all restrictive and other legends or, at
the request of the Holder shall credit the account of the Holder’s prime broker with the Depository Trust Company System
as directed by the Holder. The Company may not make any notation on its records or give instructions to the transfer agent that
enlarge the restrictions on transfer set forth in this Section 2.3(b). “Delegend Date” means the earliest of
the date that (a) a registration statement with respect to the Common Stock has been declared effective by the Commission or (b)
all of the Common Stock has been sold pursuant to Rule 144 or may be sold pursuant to Rule 144 without the requirement for the
Company to be in compliance with the current public information required under Rule 144 and without volume or manner-of-sale restrictions
or (c) following the six (6) month anniversary of (I) the Closing Date if a New Warrant is exercised pursuant to a cashless exercise
or (II) the date of the related cash exercise of the New Warrants provided, in each case that the applicable holder of the New
Warrants or the Common Stock, as the case may be, is not an Affiliate of the Company, the Company is in compliance with the current
public information required under Rule 144 (“Current Public Information Requirement”) and all such Common Stock
may be sold pursuant to Rule 144 or an exemption from registration under Section 4(a)(1) of the Securities Act without volume or
manner-of-sale restrictions; provided, further, however, that if the Company fails to comply with the Current Public Information
Requirement at any time following the applicable six (6) month anniversary set forth above and the one (1) year anniversary of
the Closing Date, the Company shall promptly provide notice to the Holder and the Holder undertakes not to sell such Common Stock
pursuant to Rule 144 until the Company notifies the Holder that it has regained compliance with the Current Public Information
Requirement; and provided further, that if a delegending is in effect solely as the result of the effectiveness of
a registration statement covering the resale of any Common Stock, the Holder undertakes not to sell any such Common Stock if the
Holder is notified or otherwise becomes aware that such registration statement has been withdrawn or suspended, contains a material
misstatement or omission or has become stale. The Holder agrees with the Company that the Holder will sell or transfer any New
Warrants or shares of Common Stock underlying New Warrants pursuant to either the registration requirements of the Securities Act,
including any applicable prospectus delivery requirements, or an exemption therefrom, and that if such securities are sold pursuant
to a registration statement, they will be sold in compliance with the plan of distribution set forth therein, and acknowledges
that the removal of the restrictive legend from certificates representing any such securities as set forth in this Section 2.3
or otherwise is predicated upon the Company’s reliance upon this understanding.

 

    	 	2	 

     

    

 

Section 2.4 Filing of Form
8-K and Amendment to Registration Statement. Prior to 9:00 am ET on July 17, 2017, the Company shall issue a Current Report
on Form 8-K, reasonably acceptable to the Holder disclosing the material terms of the transactions contemplated hereby, which shall
include this form of Agreement (the “8-K Filing”). From and after the issuance of the 8-K Filing, the Company
represents to the Holder that it shall not be in possession of any material, nonpublic information received from the Company, any
of its Subsidiaries or any of their respective officers, directors, employees or agents, that is not disclosed in the 8-K Filing.
In addition, effective upon the filing of the 8-K Filing, the Company acknowledges and agrees that any and all confidentiality
or similar obligations under any agreement, whether written or oral, between the Company, any of its Subsidiaries or any of their
respective officers, directors, employees or agents, on the one hand, and the Holder or any of its affiliates, on the other hand,
shall terminate. The Company shall not, and shall cause each of its Subsidiaries and its and each of their respective officers,
directors, employees and agents, not to, provide the Holder with any material, nonpublic information regarding the Company or any
of its Subsidiaries from and after the date hereof without the express prior written consent of the Holder. To the extent that
the Company, any of its Subsidiaries or any of their respective officers, directors, employees or agents, delivers any material,
non-public information to the Holder without the Holder’s consent, the Company hereby covenants and agrees that the Holder
shall not have any duty of confidentiality with respect to, or a duty not to trade on the basis of, such material, non-public information.

 

ARTICLE III

REPRESENTATIONS AND WARRANTIES

 

Section 3.1 Representations
and Warranties of the Company. The Company hereby makes the representations and warranties set forth below to the Holder that
as of the date of its execution of this Agreement:

 

(a) Authorization;
Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions
contemplated by this Agreement and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery
of this Agreement by the Company and the consummation by it of the transactions contemplated hereby have been duly authorized by
all necessary action on the part of such Company and no further action is required by such Company, its board of directors or its
stockholders in connection therewith. This Agreement has been duly executed by the Company and, when delivered in accordance with
the terms hereof will constitute the valid and binding obligation of the Company enforceable against the Company in accordance
with its terms except (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization,
moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited
by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar
as indemnification and contribution provisions may be limited by applicable law.

 

    	 	3	 

     

    

 

(b) Organization.
The Company is a duly organized and validly existing corporation in good standing under the laws of the State of Delaware.

 

(c) Registration
Statement. The Warrant Shares are registered for issuance on a Form S-3 Registration Statement and the Company knows of no
reasons why such registration statement shall not remain available for the issuance of such Warrant Shares for the foreseeable
future. The Company shall use commercially reasonable efforts to keep the Registration Statement effective and available for the
issuance of the Warrant Shares underlying the Original Warrants until all Original Warrants are exercised.

 

(d) No Conflicts.
The execution, delivery and performance of this Agreement by the Company and the consummation by the Company of the transactions
contemplated hereby do not and will not: (i) conflict with or violate any provision of the Company’s certificate or
articles of incorporation, bylaws or other organizational or charter documents, or (ii) conflict with, or constitute a default
(or an event that with notice or lapse of time or both would become a default) under, result in the creation of any lien upon any
of the properties or assets of the Company, or give to others any rights of termination, amendment, acceleration or cancellation
(with or without notice, lapse of time or both) of, any material agreement, credit facility, debt or other material instrument
(evidencing Company debt or otherwise) or other material understanding to which the Company is a party or by which any property
or asset of the Company is bound or affected, or (iii) conflict with or result in a violation of any law, rule, regulation,
order, judgment, injunction, decree or other restriction of any court or governmental authority to which the Company is subject
(including federal and state securities laws and regulations), or by which any property or asset of the Company is bound or affected.

 

(e) Disclosure.
Except with respect to the material terms and conditions of the transactions contemplated by this Agreement, the Company confirms
that neither it nor any other Person acting on its behalf has provided any of Holder or their agents or counsel with any information
that it believes constitutes or might constitute material, non-public information. The Company understands and confirms that the
Holder will rely on the foregoing representation in effecting transactions in securities of the Company. All of the disclosure
furnished by or on behalf of the Company to the Holder regarding the Company and its Subsidiaries, their respective businesses
and the transactions contemplated hereby, including but not limited to the disclosure set forth in the SEC Reports, is true and
correct and does not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make
the statements made therein, in light of the circumstances under which they were made, not misleading. As used herein, “SEC
Reports” means all reports, schedules, forms, statements and other documents required to be filed by the Company with
the Commission pursuant to the reporting requirements of the 1934 Act, including all exhibits included therein and financial statements,
notes and schedules thereto and documents incorporated by reference therein.

 

(f) Issuance
of Securities. The issuance of the Securities has been duly authorized and, upon issuance in accordance with the terms of this
Agreement, the Securities shall be validly issued and free from all preemptive or similar rights (except for those which have been
validly waived prior to the date hereof), taxes, liens and charges and other encumbrances with respect to the issue thereof. As
of the Closing Date, a number of shares of Common Stock shall have been duly authorized and reserved for issuance which equals
or exceeds the maximum number of New Warrant Shares issuable upon exercise of the New Warrants (without taking into account any
limitations on the exercise of the New Warrants set forth therein). Upon exercise of the New Warrants in accordance therewith,
the New Warrant Shares, when issued, will be validly issued, fully paid and non-assessable and free from all preemptive or similar
rights, taxes, liens, charges and other encumbrances with respect to the issue thereof, with the holders being entitled to all
rights accorded to a holder of Common Stock. Assuming the accuracy of each of the representations and warranties set forth in Section
3.2 of this Agreement, the offer and issuance by the Company of the New Warrants is exempt from registration under the 1933 Act.

 

(g) No General
Solicitation. Neither the Company, nor any of its Subsidiaries or affiliates, nor any Person acting on its or their behalf,
has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with
the offer or sale of the Securities.

 

    	 	4	 

     

    

 

(h) No Integrated
Offering. None of the Company, its Subsidiaries or any of their affiliates, nor any Person acting on their behalf has, directly
or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances that would
require registration of the issuance of any of the New Warrants, or the New Warrants Shares (collectively, the “New Securities”)
under the 1933 Act, whether through integration with prior offerings or otherwise, or cause this offering of the New Securities
to require approval of shareholders of the Company for purposes of the 1933 Act or any applicable shareholder approval provisions,
including, without limitation, under the rules and regulations of any exchange or automated quotation system on which any of the
securities of the Company are listed or designated for quotation. None of the Company, its Subsidiaries, their affiliates nor any
Person acting on their behalf will take any action or steps that would require registration of the issuance of any of the Securities
under the 1933 Act or cause the offering of any of the Securities to be integrated with other offerings for purposes of any such
applicable shareholder approval provisions.

 

(i) No Disqualification
Events. With respect to Securities to be offered and sold hereunder in reliance on Rule 506(b) under the 1933 Act ("Regulation
D Securities"), none of the Company, any of its predecessors, any affiliated issuer, any director, executive officer,
other officer of the Company participating in the offering hereunder, any beneficial owner of 20% or more of the Company's outstanding
voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under
the 1933 Act) connected with the Company in any capacity at the time of sale (each, an "Issuer Covered Person"
and, together, "Issuer Covered Persons") is subject to any of the "Bad Actor" disqualifications described
in Rule 506(d)(1)(i) to (viii) under the 1933 Act (a "Disqualification Event"), except for a Disqualification
Event covered by Rule 506(d)(2) or (d)(3). The Company has exercised reasonable care to determine whether any Issuer Covered Person
is subject to a Disqualification Event. The Company has complied, to the extent applicable, with its disclosure obligations under
Rule 506(e), and has furnished to the Holder a copy of any disclosures provided thereunder.

 

Section 3.2 Representations
and Warranties of the Holder. The Holder hereby makes the representations and warranties set forth below to the Company
that as of the date of its execution of this Agreement.

 

(a) Due Authorization.
The Holder represents and warrants that (i) the execution and delivery of this Agreement by it and the consummation by it
of the transactions contemplated hereby have been duly authorized by all necessary action on its behalf and (ii) this Agreement
has been duly executed and delivered by the Holder and constitutes the valid and binding obligation of the Holder, enforceable
against it in accordance with its terms.

 

(b) No Conflicts.
The Holder represents and warrants that the execution, delivery and performance of this Agreement by the Holder and the consummation
by the Holder of the transactions contemplated hereby do not and will not: (i) conflict with or violate any provision of the
Holder’s organizational or charter documents, or (ii) conflict with or result in a violation of any agreement, law,
rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority which would interfere
with the ability of the Holder to perform its obligations under this Agreement.

 

(c) Access
to Information. The Holder acknowledges that it has had the opportunity to review this Agreement and the SEC Reports and has
been afforded (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives
of the Company concerning the terms and conditions of the exercise of the Original Warrants and the merits and risks of investing
in the Warrant Shares; (ii) access to information about the Company and its financial condition, results of operations, business,
properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain
such additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary
to make an informed investment decision with respect to the investment. The Holder acknowledges and agrees that neither Joseph
Gunnar & Co., LLC (the “Advisor”) nor any Affiliate of the Advisor has provided the Holder with any information
or advice with respect to the Securities nor is such information or advice necessary or desired. Neither the Advisor nor any
Affiliate has made or makes any representation as to the Company or the quality of the securities issued and issuable hereunder
and the Advisor and any Affiliate may have acquired non-public information with respect to the Company which the Holder agrees
need not be provided to it. In connection with the issuance of the securities hereunder to the Holder, neither the Advisor
nor any of its Affiliates has acted as a financial advisor or fiduciary to the Holder.

 

(d) Holder
Status. The Holder represents and warrants that is an “accredited investor” as defined in Rule 501 under the Securities
Act.

 

    	 	5	 

     

    

 

(e) Knowledge.
The Holder, either alone or together with its representatives, has such knowledge, sophistication and experience in business and
financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Warrant Shares, and
has so evaluated the merits and risks of such investment. The Holder is able to bear the economic risk of an investment in the
Warrant Shares and, at the present time, is able to afford a complete loss of such investment.

 

ARTICLE IV

MISCELLANEOUS

 

Section 4.1 [Intentionally Omitted].

 

Section 4.2  Subsequent Equity
Sales.

 

(a)          From
the date hereof until thirty (30) days after the Closing Date, neither the Company nor any Subsidiary shall issue, enter into
any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or Common Stock
Equivalents. As used herein “Common Stock Equivalents” means any securities of the Company or
the Subsidiaries which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation,
any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or
exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

 

(b)          Notwithstanding
the foregoing, this Section 4.2 shall not apply in respect of an Exempt Issuance. “Exempt Issuance” means the
issuance of (a) shares of Common Stock or options to employees, officers or directors of the Company pursuant to any stock incentive
plan duly adopted for such purpose, by a majority of the non-employee members of the Board of Directors or a majority of the members
of a committee of non-employee directors established for such purpose, (b) securities upon the exercise or exchange of or conversion
of any Securities issued hereunder and/or other securities exercisable or exchangeable for or convertible into shares of Common
Stock issued and outstanding on the date of this Agreement, provided that such securities have not been amended since the date
of this Agreement to increase the number of such securities or to decrease the exercise price, exchange price or conversion price
of such securities (other than in connection with stock splits or combinations) or to extend the term of such securities, and (c)
securities issued pursuant to acquisitions or strategic transactions approved by a majority of the disinterested directors of the
Company, provided that any such issuance shall only be to a Person (or to the equityholders of a Person) which is, itself or through
its subsidiaries, believed by the Company to be an operating company or an owner of an asset in a business synergistic with the
business of the Company; provided that any issuance of securities pursuant to clause (c) above shall only be issued as "restricted
securities" (as defined in Rule 144) without any registration rights that require, or are permit, the filing of a registration
statement during the period beginning on the date hereof and ending on the thirtieth day following the Closing Date.

 

Section 4.3 Notices. Any and
all notices or other communications or deliveries required or permitted to be provided hereunder shall be made by email to the
email address of the Holder set forth on Holders’ signature page.

 

Section 4.4 Survival.
All warranties and representations (as of the date such warranties and representations were made) made herein or in any certificate
or other instrument delivered by it or on its behalf under this Agreement shall be considered to have been relied upon by the parties
hereto and shall survive the issuance of the New Warrants. This Agreement shall inure to the benefit of and be binding upon the
successors and permitted assigns of each of the parties; provided however that no party may assign this Agreement or the obligations
and rights of such party hereunder without the prior written consent of the other parties hereto.

 

Section 4.5 Execution.
This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being
understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission,
such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed)
with the same force and effect as if such facsimile signature page were an original thereof.

 

    	 	6	 

     

    

 

Section 4.6 Severability.
If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability of the
remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt
to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and upon so agreeing, shall incorporate
such substitute provision in this Agreement.

 

Section 4.7 Governing Law.
This Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable to agreements
made and to be fully performed therein. Any disputes that arise under this Agreement, even after the termination of this Agreement,
will be heard only in the state or federal courts located in the City of New York, State of New York. The parties hereto expressly
agree to submit themselves to the jurisdiction of the foregoing courts in the City of New York, State of New York. The parties
hereto expressly waive any rights they may have to contest the jurisdiction, venue or authority of any court sitting in the City
and State of New York.

 

Section 4.8 Entire Agreement.
The Agreement, together with the exhibits and schedules thereto, contain the entire understanding of the parties with respect to
the subject matter hereof and supersede all prior agreements and understandings, oral or written, with respect to such matters,
which the parties acknowledge have been merged into such documents, exhibits and schedules.

 

Section 4.9 Construction.
The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect
any of the provisions hereof. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.

 

Section 4.10 Fees and Expenses.
Except as expressly set forth herein, each party shall pay the fees and expenses of its 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 this Agreement. The Company shall pay all transfer agent fees, stamp taxes and other taxes and duties levied in
connection with the delivery of any Warrant Shares.

 

(remainder of page intentionally left
blank; signature page follows)

 

    	 	7	 

     

    

 

IN WITNESS WHEREOF, the undersigned
have executed this Warrant Exercise Agreement as of the date first written above.

 

COMPANY:

 

PARETEUM CORPORATION

 

	By:  	 	 
	Name:	 	 
	Title:  	 	 

 

Bank Account and Wire Instructions

 

[insert]

 

    	 	8	 

     

    

 

[HOLDER SIGNATURE PAGES TO PARETEUM CORPORATION

WARRANT EXERCISE AGREEMENT]

 

IN WITNESS WHEREOF, the undersigned have caused this Agreement
to be duly executed by their respective authorized signatories as of the date first indicated above.

 

	
        Name of Holder:

         
	 
	
        Signature of Authorized Signatory of Holder:

         
	 
	
        Name of Authorized Signatory:

         
	 
	
        Title of Authorized Signatory:

         
	 
	
        Email Address of Holder:

         
	 
	
        Number of Original Warrants held and deemed exercised:

         
	 
	
        Aggregate Exercise Price of  Warrants deemed Exercised:

         
	 
	
        Warrant Shares underlying Warrants deemed exercised:

         
	 
	
        Instructions for Warrant Shares to be issued upon exercise of
        Original Warrants:

         
	 
	
        Number of New Warrants to be issued to Holder upon deemed exercise:

         
	 
	Address for Delivery of New Warrants for Holder:	 

 

    	 	9FINAL
PURCHASING AGREEMENT

BETWEEN
PUERTO RICO INDUSTRIAL COMMERCIAL HOLDINGS BIOTECH

CORPORATION
AND PROJECT 1493, LLC.

 

I.
Parties

 

This
Final Purchasing Agreement (here on after the “Agreement”) is made and entered into by and between Puerto Rico
Industrial Holdings Biotech Corporation, as Party of the First Part, and Project 1493, LLC, as Party of the Second
Part.

 

The
Party of the First Part official communication information is:

 

HC1
Box 16624, Humacao, P.R. 00791

(787)
508-2500

mcjpmc@aol.com

 

The
Party of the Second Part official communication information is:

 

David
Mitchell

793
San Patricio Avenue, San Juan, P.R. 00921

(512)
422-8916

dmitchell2120@gmail.com

 

II.
Definitions

 

In
the present Agreement, unless the context otherwise requires, the following words and expressions shall have the following meanings
when used herein:

 

Department
of Health = Refers to the Health Department of the Commonwealth of Puerto Rico, agency in charge of the regulations for the
Medicinal Cannabis industry in Puerto Rico.

 

Department
of State = Refers to the Department of State of the Commonwealth of Puerto Rico.

 

Dispensary
= A registered establishment that has a valid license or authorization by the Department of Health of Puerto Rico to stock
and dispense Medicinal Cannabis.

 

Due
Diligence or Exclusivity Period = Refers to a Due Diligence Period or a longer period agreed between the parties, in which
the Party for the First Part shall not negotiate with, or in any form, discuss with any third party with regard to this Agreement.

 

Manufacturing
of Cannabis = The process of making Medicinal Cannabis extracts, concentrates, oils, edibles, beverages and other products
by a licensed establishment as construed in Regulation No. 8766 of the Department of Health of Puerto Rico as amended.

 

Material
Breach = The following situations will be considered a material breach:

 

a)
Lack of proper licenses and permits according to Regulation 8766 of the Department of Health of Puerto Rico;

b)
Failure to comply with the rules and regulations of the commonwealth of Puerto Rico for the establishments in question;

c)
False representations regarding the party, the documents submitted or the property subject to the present Agreement;

d)
Failure to comply with rectification of a material breach; and

e)
Changes in the official communication information provided without proper notice.

 

Medicinal
Cannabis= Refers to all parts of the Cannabis Sativa L. and Cannabis Indica, any hybrid of said plants as well
as any compound, derivate, concentrate, mix or confections produced with said plants (i.e. oils, edibles, beverages, etc.) as
defined by Regulation No. 8766 of the Department of Health of Puerto Rico.

 

    	 

    	 

    

 

MOU
= Refers to the Memorandum of Understanding signed between the Parties on April 19th, 2017. A Memorandum of Understanding
is a short form binding and enforceable agreement that stipulates the material terms and conditions that will ultimately become
a purchase agreement if all the representations made by the seller are duly verified and confirmed during the Exclusivity Period.

 

Party
of the First Part = Refers to Puerto Rico Industrial Holdings Biotech Corporation, who will be the seller of the Medicinal
Cannabis dispensaries subject to this Agreement.

 

Party
of the Second Part = Refers to Project 1493, LLC, who will be the buyer of the Medicinal Cannabis dispensaries subject to
this Agreement.

 

Proposed
Acquisition = The proposed acquisition of Medicinal Cannabis dispensaries by the Party of the Second Part from the Party of
the First Part as contemplated in this Agreement.

 

Regulation
No. 8766 = Regulation Number 8766 of the Department of Health of Puerto Rico: Regulation for the Use, Possession, Growth,
Manufacture, Fabrication, Dispensation, Distribution and Investigation of Medicinal Cannabis, approved on the 8th of July, 2016,
and its subsequent amendments.

 

III.
Purpose

 

The
purpose of this Agreement is to establish the terms and conditions for the sale and acquisition of the three (3) Medicinal Cannabis
dispensaries described below for the amount of $300,000 USD, as previously agreed in the MOU signed on April 19th,
2017.

 

IV.
Party Considerations and Representations

 

A.
Party of the First Part Considerations and Representations

 

The
Party of the First Part is a for-profit corporation established under the laws of Commonwealth of Puerto Rico, with its main offices
in Humacao, P.R., with Department of State registration number 185692, represented in this act by it’s CEO, Manuel Cámara-Montull,
with the main purpose of offering high level facilities to pharmaceutical industries or related to the health sector for the manufacture
of medical products.

 

The
Party of the First Part represents that it is the legally rightful owner of the leasing contracts for the following proposed Medical
Cannabis dispensary establishments, as pre-qualified by the Department of Health:

 

	 	1)	Proposed
    Medical Cannabis dispensary located on 65th Infantry Avenue, Km. 11.0, marginal 3, Lomas de Carolina, Carolina,
    P.R. 00987. The following descriptions and representations apply to this establishment:
	 	 	 
	 	a)	HERAS
    P.M. & I, Corp., a corporate entity represented by María Teresa Guzmán García, is the legally rightful
    owner of the property in which the dispensary is located.
	 	 	 
	 	b)	HERAS
    P.M. & I, Corp., and the Party of the First Part entered a Lease Agreement on August 26th, 2016, for the aforementioned
    property. The agreement stipulates a lease term of five (5) years, commencing on September 1st, 2016. 
	 	 	 
	 	c)	The
    property in question has an approximate capacity of 2,500 square feet.
	 	 	 
	 	d)	The
    lease fee is set at $4,500 a month, with an annual increase of 5%.
	 	 	 
	 	e)	A
    lease assignment for this property was signed by the Landlord and the Parties to the present Agreement on June 15th,
    2017.
	 	 	 
	 	2)	Proposed
    Medical Cannabis dispensary located on Building Paseo del Plata Shopping Center, Building No. 3, P.R. 696, int. José
    Efrón Avenue, Dorado, P.R., 00646. The following descriptions and representations apply to this establishment:

 

	 	a)	Efron
    Dorado, S.E., a Puerto Rico corporate entity, is the legally rightful owner of the property in which the dispensary is located.

 

    	 

    	 

    

 

	 	b)	Efron Dorado, S.E., and the Party of the First Part entered a Lease Agreement on August 30th, 2016, for the aforementioned property. The agreement stipulates a lease term of three (3) years, commencing on December 1st, 2016.
	 	 	 
	 	c)	The property in question has an approximate capacity of 1,900 square feet.
	 	 	 
	 	d)	The lease fee is set at an annual amount of $57,000 ($30 sq. ft.), with an additional monthly marketing charge of $158.33 ($1 sq. ft.)
	 	 	 
	 	e)	A lease assignment for this property was signed by the Landlord and the Parties to the present Agreement on June 7th, 2017.
	 	 	 
	 	3)	Proposed Medical Cannabis dispensary located on Bo. Quebrada de Fajardo, Carr. #3 Km. 44.9, Fajardo, P.R. 00648. The following descriptions and representations apply to this establishment:
	 	 	 
	 	a)	José Ramón Cariño Ribot is the legally rightful owner of the property in which the dispensary is located.
	 	 	 
	 	b)	José Ramón Cariño Ribot and the Party of the First Part entered a Lease Agreement on August 30th, 2016, for Local #1 of the aforementioned property. The agreement stipulates a lease term of seventy-eight (78) months with three (3) options to renew the contract for an additional term of sixty (60) months.
	 	 	 
	 	c)	The property in question has an approximate capacity of 2,774 square feet.
	 	 	 
	 	d)	The lease fee is set at a monthly payment of $3,000 with a 5% annual increase for the initial term and any subsequent renewals of the contract. Additionally, the tenant must pay an annual fee of $1,315.71 for property taxes, as well as an annual fee of $1,275 for property insurance.
	 	 	 
	 	e)	A lease assignment for this property has not been signed at the time of closing the present agreement.

 

The
Party of the First Part wishes to sell all legal rights, permits, licenses, leasing contracts and assets in his power pertaining
to the aforementioned dispensaries for the total amount of $300,000 USD ($100,000 USD each) with an initial deposit of $150,000
USD.

 

The
Party of the First Part represents that all of the assets, rights and licenses pertaining to the present Agreement have been acquired
legally in accordance with the laws and regulations of the Commonwealth of Puerto Rico, including Regulation 8766.

 

The
Party of the First Part represents that he has the capacity to transfer all pertinent documents, licenses and property of his
ownership so that the dispensaries remain operational during the final closing periods.

 

The
Party of the First Part represents that he is the legally rightful owner of all assets, rights or licenses that he wishes to sell
through the present Agreement.

 

The
Party of the First Part represents that, to the best of his knowledge, there is no existing, pending or projected administrative
or judicial process regarding the dispensaries subject to this Agreement.

 

The
Party of the First Part represents that there are no outstanding fines at the moment regarding the dispensaries subject to this
Agreement.

 

B.
Party of the Second Part Considerations and Representations

 

The
Party of the Second Part is a for-profit corporation established under the laws of Commonwealth of Puerto Rico, with its main
offices in San Juan, P.R., with Department of State registration number 3292 represented in this act by David Mitchell, authorized
representative of Green Spirit Industries, Inc., who is the sole member of Project 1493, LLC.

 

The
Party of the Second Part represents his interest in purchasing the leasing contracts for the described Medical Cannabis dispensary
establishments from the Party of the First Part for the amount established.

 

The
Party of the Second Part represents that he meets the appropriate demands of capacity, competence and financial accountability
to fulfill his obligations under the present Agreement. To this effect, the Party of the Second Part will provide a Certificate
of Good Standing and any other pertinent and unprivileged document to support this assertion.

 

    	 

    	 

    

 

C.
Mutual Considerations and Representations

 

Each
party to this Agreement represents and warrants that:

 

(1)
It has the power and authority to enter into this Agreement;

 

(2)
All documents supplied to each other pursuant to this Agreement are valid, binding and enforceable upon said party; and

 

(3)
Subject to the terms and conditions of this Agreement, and in reliance on the representations, warranties and conditions set out
in this Agreement, the Party of the First Part agrees to sell all legal rights, permits, licenses and assets in his power pertaining
to the aforementioned dispensaries to the Party of the Second Part, who in turn agrees to purchase these from the Party of the
First Part.

 

V.
Material Terms and Conditions

 

A.
Transfer of Funds

 

The
parties agree to establish an escrow account to manage the transfer of funds. The Party of the Second Part will deposit the amount
of ($150,000 USD) to an FDIC in the United States (including the Commonwealth of Puerto Rico) or COSSEC backed institution in
the Commonwealth of Puerto Rico until the present Agreement is formally closed. At which time he will deposit the remaining balance
for the purchase of the aforementioned Medical Cannabis dispensaries in the following proportions, directly in benefit of the
current owners of Puerto Rico Industrial Commercial Holdings Biotech, Corp., as of the signing date of this agreement:

 

$285,000
USD to the order of Puerto Rico Industrial Commercial Holdings, LLC

 

$15,000
USD to the order of E1 Holdings, LLC

 

The
Party of the Second Part reserves the right to transfer the funds that correspond to individual locations ($100,000 USD) only
upon the receipt of all documents required to close the sale for said location according to this Agreement.

 

B.
Non-Compete Clause

 

The
Party of the First Part agrees not to establish a Medical Cannabis dispensary within a radius of two (2) miles from one of the
described dispensaries in this Agreement, or to compete directly or indirectly with the party of the Second Part within the established
territorial limitations. This limitation does not include any qualified or pre qualified establishment owned by the Party of the
First Part.

 

C.
Extension of Due Diligence Period

 

The
Parties hereby agree to extend the Due Diligence period set forth in the MOU signed on April 19th, 2017, regarding
the third property described above which is located in Fajardo, P.R. The Due Diligence period for said location will be extended
to a further ninety (90) days from the signing of the present Agreement. The Party of the First Part agrees to display the utmost
diligence and take all necessary measures to obtain and furnish all pertinent documents regarding said establishment in a timely
manner. This extension is limited only to the afore-mentioned property.

 

If
by the end of the extended Due Diligence period, the Party of the First Part has not furnished the required documents to close
the sale, the Party of the Second Part reserves the right to withdraw from the purchase of said establishment and the grand total
of the sale described herein will be reduced accordingly. The present Agreement, however, will remain in full effect in regards
to the other establishments that fully comply with the rules and regulations of the Commonwealth of Puerto Rico and the provisions
set forth in the present Agreement.

 

    	 

    	 

    

 

The exclusivity provision set forth in Article V-(B) of the MOU
remains in full effect, thus the Party of the First Part shall not negotiate with, or in any form, discuss with any third party
with regards to the proposed acquisition.

 

VI.
Severability

 

Should
any portion of this Agreement be judicially declared to be null and void or unenforceable, the remainder of the Agreement shall
continue in full force and effect.

 

VII.
Integration Clause

 

This
Agreement constitutes the entire agreement and understanding between the parties and supersedes any and all prior agreements and
understandings, collateral agreements or understandings, oral or written, related to the subject matter herein. Any and all prior
agreements, collateral representations or understandings, oral or written, regarding the sale and acquisition subject to this
Agreement are deemed to be null and void for all legal purposes. The present Agreement may only be amended by written consent
of the Parties.

 

VIII.
Indemnification Clause

 

The
Party of the First Part shall indemnify the Party of the Second Part for any and all causes of action, claims, suits, demands,
damages, obligations, losses, settlements, potential liabilities and costs that may arise by acts or omissions occurred prior
to the signing of this Agreement. This clause shall be interpreted as broad as legally possible and it extends to business partners,
associates, advisors and relatives of the members entity.

 

The
Party of the First Part will hold the Party of the Second Part harmless from and pay any loss, damage cost or expense (including,
without limitation, legal fees and court costs) which the Party of the Second Part incurs by reason of any representation or warranty
of the Party of the First Part being incorrect or by reason of any breach by the Party of the First Part of any of its covenants
or obligations under this Agreement.

 

The
Party of the First Part should hold a reasonable amount of funds in an escrow account for any potential liabilities that may arise
before or after the closing of the Final Agreement and that are the Seller’s sole responsibility.

 

In
the event that the Party of the First Part is compelled to indemnify the Party of the Second Part, the filing of bankruptcy will
not allow the Party of the First Part to discharge the indemnification provision of the present Agreement under any condition.
The Party of the First Part expressly waives any right that the bankruptcy code may furnish said party during a bankruptcy proceeding
pertaining to the present obligation.

 

IX.
Dispute Resolution/ Mediation and Arbitration Clause

 

Any
dispute or reclamation that may arise in regards to the present Agreement, or any other circumstance that requires the intervention
of an administrative or judicial forum, will be referred to mediation in the Commonwealth of Puerto Rico in accordance with the
Regulation for Alternative Methods of Dispute Resolution. The mediator to be chosen must have a minimum of 15 years of experience
in the private law practice.

 

If
the parties fail to resolve any conflict through the mediation process, the issue will be resolved through arbitration in the
Commonwealth of Puerto Rico and in accordance with the rules and regulations set forth by the American Arbitration Association.
These rules require that a panel of three arbitrators resolve any dispute submitted to their consideration. The arbitrators must
have a minimum of 15 years of experience in the private law practice. The decision of the majority of the arbitrators is a final
one for the parties. The arbitrators shall resolve any dispute, including matters related to discovery of evidence that may arise
during the arbitration process. The non-prevailing party will assume all of the costs of the proceedings, including all legal
and attorney fees, the arbitrator fees, filing costs and any other fee incidental to the proceedings. The arbitration panel’s
decision may be entered as a judicial sentence or court order in any court that has proper jurisdiction and venue.

 

    	 

    	 

    

 

X.
Confidentiality

 

Except
as provided herein, the existence and the terms of this Agreement shall be maintained in confidence by the parties hereto and
their respective officers, directors and employees. Except as compelled to be disclosed by judicial or administrative process
or by other requirements of law, legal process, rule or regulation, all public announcements, notices or other communications
regarding such matters to third parties, shall require the prior approval of all parties hereto. The Party of the First Part hereby
agrees not to divulge any corporate, proprietary or financial information in regards to Project 1493, LLC and any license, rights
or property subject to this Agreement.

 

XI.
Copyright Clause

 

The
Party of the First Part hereby transfers any and all ideas, concepts, copyrighted materials and trademarks pertaining to the establishments
in question to the Party of the Second Part. All of the rights conceded through the present Agreement are for the sole exploitation
of the Party of the Second Part in all jurisdictions where it is legally permitted to dispense Medical Cannabis products.

 

XII.
Governing Language

 

The
governing language of the present document will be English. If the need for a translation arises, the document will be translated
from English to Spanish.

 

XIII.
Closing

 

The
closing of the purchase and sale of the assets subject to this Agreement will take place at the time and place that the Parties
mutually agree.

 

At
closing and upon the final transfer of the purchase price in full, the Party of the First Part will provide the Party of the Second
Part with duly executed forms and documents evidencing transfer of assets, where required including, but not limited to, bills
of sale, assignments, assurances, and consents.

 

XIV.
Signatures

 

IN
WITNESS WHEREOF, the parties to this Agreement through their duly authorized representatives have executed this Agreement
on the days and dates set out below, and certify that they have read, understood, and agreed to the terms and conditions of this
Agreement as set forth herein.

 

The
effective date of this Agreement is the date of the signature last affixed to this page. This Agreement does not require the simultaneous
signing of the parties for its validity, but it does require the Party of the First Part to sign before a notary public who will
thereafter proceed to notarize the entire document.

 

The
Parties agree that the sale becomes absolutely final and irreversible upon the signing and notarization of the present document.
Once this Agreement is signed and notarized, the Party of the Second Part will make the final and entire payment to the Party
of the First Part. Once this process is complete, the Party of the First Part cannot withdraw from the present Agreement for any
reason whatsoever, except by express and written consent from the Party of the Second Part.

 

    	 

    	 

    

 

For
the Party of the First Part:

 

	 	 	 
	Manuel Cámara-Montull,
    Esq. 	 	Date

CEO

Puerto
Rico Industrial Holdings Biotech Corporation

 

For
the Party of the Second Part:

 

	 	 	 
	David Mitchell    	 	Date

Authorized
Representative of Green Spirit Industries, Inc.,

Sole
Member of Project 1493, LLC.

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