Document:

Exhibit 10.27

 

CONFIDENTIAL
TREATMENT REQUESTED

INFORMATION
FOR WHICH CONFIDENTIAL TREATMENT HAS

BEEN REQUESTED
IS OMITTED AND NOTED WITH

[***].

 

AN UNREDACTED
VERSION OF THIS DOCUMENT

HAS ALSO BEEN
PROVIDED TO THE

SECURITIES AND
EXCHANGE COMMISSION.

 

CONFIDENTIAL SETTLEMENT AND
PATENT ASSIGNMENT AGREEMENT

 

This CONFIDENTIAL SETTLEMENT AND
PATENT ASSIGNMENT AGREEMENT (this “Agreement”) is entered into on December 5, 2016 (the “Effective
Date”), by and between FORM Holdings Corp., a Delaware corporation formerly known as Vringo Inc (“FORM Holdings”)
and Nokia Corporation, a company organized under the laws of Finland (“Nokia”). FORM Holdings and Nokia are
herein referred to separately as “a party” or collectively as “the parties.”

 

RECITALS

 

In August 9, 2012 the parties entered into Confidential
Purchase and Sale Agreement (“PPA”).

 

Under
the PPA, FORM Holdings reported to Nokia royalties for reporting periods 2Q2016 and 3Q2016. The parties disagree on the amount
of royalties that FORM Holdings should have reported and paid to Nokia for the said periods under the PPA.

 

The parties wish to settle any disagreement
related to royalties and agree on an assignment of certain patents and therefore agree as set forth herein:

 

AGREEMENT

 

		1.	DEFINITIONS

 

The definitions of this Agreement
shall be the same as defined in the section 1 of the PPA, unless expressly otherwise defined in this Agreement.

 

		2.	PAYMENT

 

FORM Holdings shall, at signing of this
Agreement, pay to Nokia the royalties under the PPA reported by FORM Holdings for 2Q2016 ($ 2,028,250.00) and for 3Q2016 ($ 71,750.00),
total $2,100,000.00 (two million one hundred thousand).

 

		3.	ASSIGNMENT OF PATENTS

 

3.1       Except
for the Non-Assigned Patents listed in Appendix 2 of this Agreement, FORM Holdings shall assign to Nokia Technologies OY or
[***] OY the Assigned Patents (as defined and listed in the PPA, and listed in Appendix 1 of this Agreement) together with
any rights to sue for past infringement. The assignment shall be made promptly following Nokia’s written request which
shall be made within [***] from the Effective Date of this Agreement at the latest (“Assignment Date”). The
assignment shall be made in the form substantially similar to the Assignment Agreement in Appendix 3 of this Agreement. Nokia
acknowledges certain of the Assigned Patents are no longer in force or effect, have lapsed or expired, are no longer pending
and/or have been abandoned (“Exceptions”). Nokia agrees that Nokia Technologies OY shall take the Assigned
Patents and have them assigned “as- is” as of the Assignment Date.

 

     

     

    

 

3.2       Any
licenses granted by FORM Holdings to the Assigned Patents before the Effective Date of this Agreement shall be Existing Encumbrances
to the Patents. FORM Holdings agrees to provide a list of Existing Encumbrances to Nokia upon request and warrants that the Assigned
Patents are not encumbered by any other Existing Encumbrances. FORM Holdings agrees not to litigate with or grant any licenses,
releases or other immunities to the Assigned Patents (except for the Patents listed in Appendix 2 as “Non-Assigned Patents”)
after the Effective Date of this Agreement and during the nine (9) months period referred in section 3.1. During the period before
Assignment Date Nokia Technologies OY shall have an option, in its sole discretion, to grant licenses to the Assigned Patents (subject
to Exceptions).

 

FORM Holdings agrees to, in
conjunction with Nokia, facilitate the transition, between FORM Holdings and Nokia, in prosecuting and/or maintaining the Assigned
Patents until the Assignment Date. FORM Holdings agrees to provide reasonable assistance to Nokia in any prosecution and/or maintenance
of the Assigned Patents for sixty (60) days after the Assignment Date. Nokia releases FORM Holdings and waives all liability or
causes of action related to prosecution and/or maintenance of the Assigned Patents.

 

Nokia agrees to pay directly
or reimburse to FORM Holdings any such reasonable fees or external costs occurred to FORM Holdings with regard to prosecution and/or
maintenance of the Assigned Patents until the end of the sixty (60) day period from the Assignment Date.

 

		4.	SETTLEMENT AND WAIVER

 

4.1       Subject
to a) the assignment of the Assigned Patents to Nokia in accordance with the section 3 above, and b) payment of the royalties in
accordance with the section 2 above, Nokia will waive any claims related to royalties under PPA..

 

4.2       For
avoidance of doubt, the PPA (including but not limited to section 9 Compliance with Existing Encumbrances) shall continue to apply
to the Patents that are not assigned back to Nokia (“Non-Assigned Patents”) with exception that, as of the Effective
Date, sections 4.3 through 4.6 of the PPA regarding royalties shall not apply and FORM Holdings does not have any obligation to
pay further royalties to Nokia or provide any reporting under the PPA.

 

		5.	RELEASE

 

Other than with regard to a breach of
this Agreement, in further consideration of the agreements made between the parties, each party hereby waives, releases and
forever discharges the other party (and each of their respective present and former members, partners, directors, officers,
shareholders, investors, employees, fiduciaries, administrators, agents, attorneys, insurers, successors and assigns) from
and with respect to any and all legally waivable claims, grievances, injuries, controversies, agreements, covenants,
promises, debts, accounts, actions, causes of action, suits, arbitrations, sums of money, attorneys’ fees, costs,
damages, or any right to any monetary recovery or any other personal relief, whether known or unknown, in law or in equity,
by contract, tort or pursuant to federal, state or local statute, regulation, ordinance or common law, which the releasing
party now has, ever had, or may hereafter have, based upon or arising from any fact or set of facts, whether known or unknown
to the releasing party, from the beginning of time until the date of this Agreement. Notwithstanding the foregoing, nothing
in this Agreement shall prevent the parties from seeking enforcement of the terms and obligations set forth in this
Agreement.

 

    Confidential – Page 2

     

    

 

		6.	REPRESENTATIONS AND WARRANTIES

 

		6.1	The parties hereby represents and warrants to that:

 

		a)	Authority; Enforceability. The parties have the
right and authority to enter into this Agreement and to carry out its obligations hereunder and require no third party consent,
approval, and/or other authorization to enter into this Agreement and to carry out its obligations hereunder, including the assignment
of the Assigned Patents to Nokia subject to the Exceptions set forth in Section 3.1. This Agreement has been duly authorized,
executed and delivered by each party and constitutes a valid and binding agreement of each party enforceable against each party
in accordance with its terms.

 

		b)	Title. Subject to the Exceptions set forth in
Section 3.1, FORM Holdings has good and marketable title to the Assigned Patents, including all rights, title, and interest in
the Assigned Patents and the right to sue for past, present and future infringement thereof.

 

		7.	MISCELLANEOUS

 

7.1       Applicable
Law. The validity, construction, and performance of this Agreement shall be governed by and construed first in accordance
with the federal laws of the United States to the extent federal subject matter jurisdiction exists, and second in accordance
with the laws of the State of New York, exclusive of its choice of law rules. Any disputes arising out of this Agreement shall
be finally settled in arbitration. The arbitrator is to be appointed by the American Arbitration Association (“AAA”)
and the rules of the AAA are to be followed in the arbitration. The award shall be final and binding and enforceable in any court
of competent jurisdiction. The arbitration shall be held in New York, NY, USA, in the English language. The parties undertake
and agree that all arbitral proceedings conducted with reference to this section shall be kept strictly confidential and all information
disclosed in the course of such arbitral proceeding shall be used solely for the purpose of those proceedings.

 

7.2       Disclaimer.
OTHER THAN AS EXPRESSLY SET FORTH IN THIS AGREEMENT, NEITHER PARTY MAKES ANY OTHER REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED.
THE PARTIES HEREBY DISCLAIM ANY OTHER WARRANTIES (INCLUDING IMPLIED OR STATUTORY WARRANTIES) WITH RESPECT TO THE ASSIGNED PATENTS,
INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NONINFRINGEMENT, INFRINGEMENT, OR PATENT VALIDITY
OR ENFORCEABILITY.

 

7.2       Confidentiality
of Terms. The existence of this Agreement and the identity of its parties are not confidential. All terms and conditions in
this Agreement shall be kept in confidence by the parties, and the parties shall not now or hereafter divulge this Agreement or
any of its terms to any third party except: (a) with the prior written consent of the other party; (b) to any governmental body
having jurisdiction to require disclosure, to the extent required by such governmental body; (c) as otherwise may be required
by law or legal process, including to legal and financial advisors in their capacity of advising a party in such matters; (d)
during the course of litigation or arbitration, so long as the disclosure of such terms and conditions are restricted in the same
manner as is the confidential information of other litigating/arbitrating parties; (e) to accountants, banks, and financing sources
and their advisors solely in connection and compliance with financial transactions and reporting; (f) while obtaining legal advice
from legal counsel as needed in the normal course of business; or (g) in connection with the Securities and Exchange Act of 1934,
as amended, the Securities Act of 1933, as amended, and any other reports filed with the Securities and Exchange Commission or
any stock exchange rule, or any other filings, reports or disclosures that may be required under applicable law, regulations or
rules; provided that, in (b) through (g) above, (i) the Parties shall use all legitimate and legal means available to minimize
the disclosure to third parties, including seeking a confidential treatment request or protective order whenever appropriate or
available; and (ii) Nokia and FORM Holdings shall provide the other party, when reasonable, with at least ten (10) business days’
prior written notice of such disclosure.

 

    Confidential – Page 3

     

    

 

7.3       Entire
Agreement; Headings. This Agreement reflects the complete understanding of the parties regarding the subject of the Agreement,
and supersedes all prior related negotiations. The section headings contained in this Agreement are for reference purposes only
and shall not affect in any way the meaning or interpretation of this Agreement.

 

7.4       Notices.
Any notice under this Agreement shall be effective upon receipt when made in writing and delivered to the other party at the address
stated below. Notice by email or facsimile is effective upon receipt if an original signature copy is mailed contemporaneously
to the other party at the address stated below:

 

	If to Nokia:	If to FORM Holdings:
	 	 
	Nokia Corporation	FORM Holdings Corp.
	 Karaportti 3	780 Third Avenue – 12th Floor
	02160 Espoo, Finland	New York, New York 10017 
	Attn: VP, Intellectual Property	Attn: CEO
	email: iprroyaltyreporting@nokia.com	email: notices@formholdings.com

 

7.5       Relationship
of Parties. The parties hereto are independent contractors. Neither party has any express or implied right or authority to
assume or create any obligations on behalf of the other or to bind the other to any contract, agreement or undertaking with any
third party. Nothing in this Agreement shall be construed to create a partnership, joint venture, employment or agency relationship
between Nokia and FORM Holdings.

 

7.6       Severability.
To the extent any terms or conditions of this Agreement are held invalid or unenforceable in a jurisdiction, those terms or conditions
shall be enforced to the maximum extent possible in that jurisdiction and the remaining terms and conditions shall retain full
force and effect in that jurisdiction, so long as the remaining Agreement continues to express the intent of the parties.

 

    Confidential – Page 4

     

    

 

7.7       Waiver.
Failure by either party to enforce any term of this Agreement shall not be deemed a waiver of future enforcement of that or any
other term in this Agreement.

 

7.8       Successors;
Assigns. The terms and conditions of this Agreement shall inure to the benefit of, and shall be binding upon, any successors
or permitted assigns of FORM Holdings or Nokia.

 

7.9       Modifications.
This Agreement may not be modified after the Effective Date except by a written amendment that expressly references this Agreement
and that is signed by an authorized officer of each party.

 

7.10       Construction.
As used in this Agreement, (a) the words “include” and “including” and variations thereof, shall not be
deemed to be terms of limitation, but rather shall be deemed to be followed by the words “without limitation,” and
(b) unless the context otherwise requires, the word “or” shall be deemed to be an inclusive “or” and shall
have the meaning equivalent to “and/or.”

 

7.11       Signatures.
This Agreement may be executed in counterparts, each of which shall be deemed an original, but each together shall constitute
one and the same instrument. For purposes hereof, an email or facsimile copy of this Agreement, including the executed signature
pages hereto, shall be deemed to be an original. Notwithstanding the foregoing, the parties shall deliver original signature copies
of this Agreement to the other party as soon as practicable following execution thereof.

 

7.12       Third
Party Beneficiary. Nothing in this Agreement, express or implied, is intended to, or shall confer upon, any third party, any
legal or equitable right, benefit or remedy of any nature whatsoever.

 

 7.13       List of Appendices.

 

Appendix 1Assigned Patents, including Exceptions

 

Appendix 2Non-Assigned Patents

 

Appendix 3Assignment Agreement

  

[signature
page follows]

 

    Confidential – Page 5

     

    

 

IN WITNESS WHEREOF, the parties
have executed this Confidential Settlement and Patent Assignment Agreement as of the Effective Date:

 

	NOKIA CORPORATION	 	FORM Holdings Corp.	 
	 	 	 	 
	 	 	/s/ Anastasia
Nyrkovskaya
	 
	Signature	 	Signature	 
	 	 		 
	 	 	Anastasia
Nyrkovskaya
	 
	Printed Name	 	Printed Name	 
	 	 		 
	 	 	Chief Financial
Officer
	 
	Title	 	Title	 
	 	 	 	 
	 	 	December
5, 2016
	 
	Date	 	Date	 
	 	 	 	 
	 	 	 	 
	Signature
	 	 	 
	 	 	 	 
	 	 	 	 
	Printed
Name
	 	 	 
	 	 	 	 
	 	 	 	 
	Title
	 	 	 
	 	 	 	 
	 	 	 	 
	Date 
	 	 	 

 

    Confidential – Page 6

     

    

 

 

IN WITNESS
WHEREOF, the parties have executed this Confidential Settlement and Patent Assignment Agreement as of the Effective Date:

 

	NOKIA CORPORATION	 	FORM Holdings Corp.	 
	 	 	 	 
	/s/ Sonja London	 	 	 
	Signature	 	Signature	 
	 	 	 	 
	Sonja London	 	 	 
	Printed Name	 	Printed Name	 
	 	 	 	 
		 	 	 
	Title	 	Title	 
	 	 	 	 
	Espoo, Finland

                                                                                                                  December 5, 2016
	 	 	 
	Date	 	Date	 
	 	 	 	 
	/s/ Nallfeemu Soininen	 	 	 
	Signature	 	 	 
	 	 	 	 
	Nallfeemu Soininen	 	 	 
	Printed Name	 	 	 
	 	 	 	 
	 	 	 	 
	Title	 	 	 
	 	 	 	 
	Espoo, Finland 

December 5, 2016

                                                                                                                  
	 	 	 
	Date	 	 	 

 

    Confidential – Page 7

     

    

 

APPENDIX 1 – Assigned Patents, including
Exceptions

 

ASSIGNED PATENTS

 

[***]

 

    Confidential – Page 8

     

    

 

APPENDIX 2 – Non-Assigned Patents

 

[***]

 

    Confidential – Page 9

    APPENDIX 3 – Assignment Agreement

    

 

CONFIDENTIAL PATENT
ASSIGNMENT AGREEMENT

 

This CONFIDENTIAL PATENT ASSIGNMENT
AGREEMENT (this “Agreement”) is entered into on [DATE] (the “Effective Date”), by and between
FORM Holdings Corp., a Delaware corporation formerly known as Vringo Inc. (“Assignor”) and [COMPANY],
a corporation organized under the laws of [STATE] (“Assignee”). Assignor and Assignee are herein referred to
separately as “a party” or collectively as “the parties.”

 

RECITALS

 

WHEREAS Assignor owns and has the
right to assign certain patents and patent applications; and

 

WHEREAS Assignor wishes to
assign to Assignee and Assignee wishes to obtain all substantive right, title, and interest in such patents and patent applications;

 

NOW THEREFORE, in consideration
of the mutual covenants and conditions stated herein, and for other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties hereby agree as set forth herein.

 

AGREEMENT

 

		1.	DEFINITIONS

 

“Affiliate”
means (a) with respect to Assignee, any entity Controlling, Controlled by, or under common Control with Assignee whether in the
past, present or future for so long, and only for so long, as such Control exists; (b) with respect to Assignor, any entity Controlling,
Controlled by, or under common Control with Assignor as of the Effective Date and for so long, and only for so long, thereafter
as such Control continues to exist and (c) with respect to any third party, any entity Controlling, Controlled by, or under common
Control with such third party for so long, and only for so long, as such Control exists.

 

“Agreement”
means this Patent Assignment Agreement and any exhibits, appendices, annexes or schedules thereto.

 

“Applicable Law”
shall have the meaning set forth in Section 8.1.

 

“Assign”
means to sell, assign, convey, delegate or otherwise transfer any right, title or interest in or to this Agreement, in each case
whether directly or indirectly, expressly or impliedly, voluntarily or involuntarily, in one or a series of transactions, by contract,
operation of law or otherwise (including without limitation by means of any merger, consolidation, recapitalization, liquidation,
dissolution, Change of Control, transfer or sale of all or substantially all of a business, or similar transaction).

 

“Assigned
Patents” means (a) all patents and patent applications listed in Exhibit A hereto; (b) all reissues,
reexaminations, continuations, continuations-in-part, divisionals, renewals and extensions of such patents and patent
applications (whether pending, issued, abandoned or filed prior to, on or after the Effective Date); (c) all patents and
patent applications (i) to which any or all of the foregoing directly or indirectly claims priority to, or the benefit of,
the filing date, or (ii)       for which any or all of the foregoing directly or
indirectly forms a basis for priority or otherwise provides the benefit of an earlier filing date; and (d) all foreign
counterparts to any or all of the foregoing, and all utility models, certificates of invention, patent registrations and
equivalent rights worldwide.

 

    Confidential – Page 10

    APPENDIX 3 – Assignment Agreement

    

  

“Assignee” shall
have the meaning set forth in the first paragraph hereto

 

“Assignor” shall
have the meaning set forth in the first paragraph hereto.

 

“Change of Control”
shall mean any one or more of the following, whether directly or indirectly, voluntarily or involuntarily, by agreement, operation
of law or otherwise, and whether by means of one transaction or a series of related transactions: (a) the acquisition of a party
or any Affiliate Controlling such party by another entity (including, without limitation, by means of any stock acquisition, reorganization,
merger, consolidation or similar business combination) other than a transaction or series of transactions in which the holders
of the voting securities of such party or any Affiliate Controlling such party (as applicable) outstanding immediately prior to
such transaction continue to retain (either by such voting securities remaining outstanding or by such voting securities being
converted into voting securities of the surviving entity), as a result of securities of such party or any Affiliate Controlling
such party (as applicable) held by such holders prior to such transaction, at least fifty percent (50%) of the total voting power
represented by the voting securities of such party or any Affiliate Controlling such party (as applicable), or such surviving entity,
outstanding immediately after such transaction or series of transactions; (b) the sale, lease, license, assignment, transfer or
other conveyance or disposition of all or substantially all the business, properties or assets of such party; or (c) the commencement
of any a proceeding under Title 11 of the United States Code (11 U.S.C. § 101 et seq.) or other insolvency, liquidation, reorganization,
receivership, moratorium, dissolution or winding up or other similar proceeding of such party or any Affiliate Controlling such
party.

 

“Control”
means (a) direct or indirect ownership of more than fifty percent (50%) of the outstanding shares representing the right to vote
for members of the board of directors or other managing officers of an entity, or (b) for an entity that does not have outstanding
shares, more than fifty percent (50%) of the direct or indirect ownership interest representing the right to make decisions for
such entity.

 

“Effective Date”
shall have the meaning set forth in the first paragraph hereto.

 

“Encumbrance”
means any lien, charge, claim, pledge, security interest, conditional sale agreement or other title retention agreement, lease,
mortgage, security agreement, right, option, restriction, immunity, license, covenant, adverse claim or other encumbrance, including
without limitation any (a) patent licenses or sublicenses, covenants not to assert and/or similar patent immunities; (b) rights
to renew or extend pre-existing patent licenses exercised solely by third parties (such as legally binding options); and (c) releases
for past infringement.

 

“Essential Cellular
Patents” means Assigned Patents which have been declared essential to the GSM/GPRS Standard or UMTS Standard, including
Patents, listed in Exhibit B.

 

    Confidential – Page 11

    APPENDIX 3 – Assignment Agreement

    

 

“Existing Encumbrances”
means, in relation to the Assigned Patents, (a) pre-existing patent licenses, covenants not to assert and/or similar patent immunities,
(b) rights to renew or extend pre-existing patent licenses exercised solely by third parties (such as legally binding options);
(c) releases for past infringement; and (d) pre-existing commitments or assurances pursuant to Assignor’s or its Affiliates’
standards- or specifications- related activities, in each case of (a), (b), (c), (d) and (e) which transfer in connection with
the transfer of the Assigned Patent(s) and/or which Assignor or any of its Affiliates has committed to maintain in connection with
the transfer of such Assigned Patent(s), solely in the form they existed prior to the Effective Date.

 

“GSM/GPRS
Standard” means the TDMA based GSM/GPRS specification as defined by ETSI and/or 3GPP prior to and at the time of the
Effective Date as well as any updates or releases in respect of such GSM/GPRS Standard by ETSI, 3GPP and/or other relevant telecommunications
standard setting bodies, as long as not fundamentally technically altering the character thereof, and includes E-GPRS (EDGE), GPRS/HSCSD/EDGE/EGSM
and GSM850.

 

“Patent”
means any and all (a) patents and patent applications; (b) reissues, reexaminations, continuations, continuations-in-part, divisionals,
renewals and extensions of such patents and patent applications (whether pending, issued, abandoned or filed prior to, on or after
the Effective Date); and (c) foreign counterparts to any or all of the foregoing, and all utility models, certificates of invention,
patent registrations and equivalent rights worldwide.

 

“Sale”
shall mean the sale, transfer, assignment or exclusive license (with the right to enforce and grant sublicenses) of an Assigned
Patent, and “Sell” shall mean to consummate a Sale.

 

“Standards Organization”
means any standards organization, standards body, standards developing organization (SDO), standards setting organization (SSO),
or any other organization, entity, association, body or other group of any type whatsoever that may impose upon an affiliated or
associated member or participant an obligation or commitment to any Encumbrance on an Assigned Patent.

 

“UMTS Standard”
means The Universal Mobile Telecommunications System Standard as promulgated by 3GPP and/or ETSI, as well as the TD-SCDMA, FOMA,
HSPA, HSPA+, HSUPA and HSDPA Standards being derivative standards thereof.

 

		2.	ASSIGNMENT OF PATENTS; COMPLIANCE WITH EXISTINGENCUMBRANCES

 

2.1       Patent
Assignment. Assignor hereby assigns to Assignee, and Assignee hereby acquires and accepts from Assignor, all right, title and
interest in, to and under the Assigned Patents, including any and all inventions and discoveries claimed therein, any and all rights
entitled by the original owner of the Assigned Patents and all rights to sue for past, present and future infringement, to collect
royalties under such Assigned Patents, to prosecute all existing Assigned Patents worldwide, to apply for additional Assigned Patents
worldwide and to have Assigned Patents issue in the name of Assignee or its designated Affiliate. For the avoidance of doubt, no
patent license or other agreements related to the Assigned Patents are being assigned to Assignee under this Agreement.

 

2.2       Assignment
of Causes of Action. Assignor hereby assigns to Assignee, and Assignee hereby acquires and accepts from Assignor, all right,
title and interest in, to and under all causes of action and enforcement rights of any type or nature whatsoever, whether known,
unknown, currently pending, filed, or otherwise, for the Assigned Patents, including all rights to pursue damages, injunctive
relief and other remedies for past, current and future infringement of the Assigned Patents.

 

    Confidential – Page 12

    APPENDIX 3 – Assignment Agreement

    

 

2.3       Existing
Encumbrances. The Assigned Patents are assigned and transferred subject to the Existing Encumbrances, and Assignee hereby commits
to respect such Existing Encumbrances, including without limitation Assignee shall ensure that any subsequent sale, assignment,
lien, mortgage or other transfer of the Assigned Patents by Assignee or its future assignees, transferees or successors of any
Assigned Patents shall be made subject to Existing Encumbrances. For the avoidance of doubt, any pre-existing patent license agreements
related to the Assigned Patents, including, without limitation, any related royalty payments, shall not be assigned or transferred
to Assignee.

 

		3.	DELIVERY

 

3.1       Executed
Assignment. Upon the Effective Date, Assignor shall execute an assignment (“Assignment”) attached hereto
as Exhibit C suitable for recordation with the United States Patent and Trademark Office and other patent offices worldwide.

 

3.2       Delivery.
Within forty-five (45) days following the Effective Date, Assignor shall send, or instruct its counsel and attorneys to send to
Assignee, the executed original or certified copy of the Assignment along with all material files and documents in the possession
of or available to Assignor regarding patent prosecution of the Assigned Patents including (a) prosecution history files for all
issued, pending or abandoned Assigned Patents, (b) a current electronic copy of a docketing report for the Assigned Patents accurately
setting forth to the best of Assignor’s knowledge any and all dates relevant to the prosecution or maintenance of the Assigned
Patents, including information relating to deadlines through and including a period of not less than the following three (3) months,
payments and filings for the Assigned Patents, and the names, business addresses, email addresses, and phone numbers of all prosecution
counsel and agents and (c) any other material files and documents not otherwise provided under Section 3.2 (a) through (b) in
the possession of Assignor’s outside attorneys who have been involved in the prosecution of any of the Assigned Patents.

 

3.3       Cooperation
After Effective Date. Assignor further covenants and agrees that after the Effective Date, it shall, upon request and without
further consideration, promptly execute and deliver to Assignee any and all other documents and materials, and take any and all
reasonable further actions, that are reasonably necessary for Assignee to perfect its title in the Assigned Patents.

 

		4.	COMPLIANCE WITH EXISTING ENCUMBRANCES

 

4.1       Existing
Encumbrances. Assignor shall without unnecessary delay provide to Assignee, at Assignee’s reasonable request, (A)
information on whether any specific named entit(y)ies do(es) not benefit from any Existing Encumbrances under the Assigned
Patents, subject to any confidentiality obligations Assignor may have under any Existing Encumbrance and (B) a description of
the type of products and/or services that are not covered by any Existing Encumbrances that Assignor may be committed to with
respect to any specific named entity under the Assigned Patents. In case the information requested by Assignee under this
Section 4.1 is subject to non-disclosure obligations preventing disclosure to Assignee, the parties shall negotiate in good
faith and use reasonable efforts to identify and implement a method for providing Assignee with reasonable access to useful
information without breaching any such confidentiality obligations.

 

    Confidential – Page 13

    APPENDIX 3 – Assignment Agreement

    

 

		5.	DELIVERY; PROSECUTION; COOPERATION

 

5.1       Continued
Prosecution. Assignor or its Affiliates shall have no obligation to pay any prosecution costs, maintenance fees, annuities
and the like relating to the Assigned Patents after the the Effective Date.

 

5.2       Cooperation
After Effective Date. Assignor further covenants and agrees that after the Effective Date, it shall, upon request and without
further consideration, without unnecessary delay execute and deliver to Assignee any and all other documents and materials, and
take any and all reasonable further actions (including taking reasonable action to obtain the cooperation of the named inventors),
that are reasonably necessary for Assignee to perfect its right, title and interest in the Assigned Patents. In addition, Assignor
shall take, or cause to be taken, any and all reasonable actions to provide reasonable access relevant documents (including information
about whether a particular third party does not have a license under the Assigned Patents) to assist Assignee in the prosecution,
maintenance or defense of the Assigned Patents.

 

5.3       Costs.
Unless expressly specified herein or in the Related Agreements, each party shall bear its own costs in connection with and arising
out of obligations set forth herein.

 

		6.	TAXES

 

This Section 6 governs the treatment of all taxes
arising as a result of or in connection with this Agreement, notwithstanding any other provision of this Agreement.

 

6.1       Responsibility
for Own Taxes. Each party is responsible for all taxes (including, but not limited to, net income, gross receipts, franchise,
or property taxes and taxes arising from transactions between such party and its customers) imposed on such party under applicable
laws and arising as a result of or in connection with this Agreement or the transactions contemplated by this Agreement.

  

		7.	REPRESENTATIONS AND WARRANTIES

 

 7.1       Assignor hereby represents and warrants to Assignee that:

 

(a)       Authority;
Enforceability. Assignor has been duly organized, and is validly existing and in good standing under the laws of the jurisdiction
of its incorporation. Assignor has the right and authority to enter into this Agreement and to carry out its obligations hereunder
and requires no third party consent, approval, and/or other authorization to enter into this Agreement and to carry out its obligations
hereunder. This Agreement has been duly authorized, executed and delivered by Assignor and constitutes a valid and binding agreement
of such party, enforceable against such party in accordance with its terms.

 

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    APPENDIX 3 – Assignment Agreement

    

 

(b)       Title.
Assignor is the sole and exclusive owner and assignee of all right, title and interest in the Assigned Patents, including all
rights to sue for past, present and future infringement thereof, free and clear of all Encumbrances, other than Existing Encumbrances.
After giving effect to the assignment as set forth in Section 2, Assignee shall be the sole and exclusive owner and assignee
of, and shall have good and marketable title to, all right, title and interest in the Assigned Patents, including all rights to
sue for past, present and future infringement thereof, free and clear of all Encumbrances, other than Existing Encumbrances. All
Assigned Patents have been duly filed or registered (as applicable) with the applicable Governmental Authorities, prosecuted and
maintained, including the submission of all necessary filings and fees in accordance with all requirements of applicable laws,
regulations and administrative requirements of the appropriate jurisdictions.

 

(c)       Standards
Organizations. Assignor represents and warrants that all Standards Organizations which are relevant for the Essential Cellular
Patents, and to which Assignor or its Affiliates have made or are required to make any declarations, commitments, disclosures
or other obligations, are specified on Exhibit B. Assignor and its Affiliates have complied with all obligations to each
Standards Organization specified on Exhibit B to the extent relating to the Essential Cellular Patents for which Assignor
or its Affiliates had an obligation to do so.

 

7.2       Assignee.
Assignee hereby represents and warrants to Assignor that:

 

(a)       Assignee
has been duly organized, and is validly existing and in good standing under the laws of the jurisdiction of its incorporation.

 

(b)       Assignee
has the right and authority to enter into this Agreement and to carry out its obligations hereunder and requires no third party
consent, approval, and/or other authorization to enter into this Agreement and to carry out its obligations hereunder. This Agreement
has been duly authorized, executed and delivered by Assignee and constitutes a valid and binding agreement of such party, enforceable
against such party in accordance with its terms.

 

(c)       Assignee’s
existing agreements and other undertakings shall not result in the imposition of any encumbrances on the Assigned Patents, and
Assignee covenants and agrees not to enter into any agreements or permit any arrangements that would result in Assignee’s
existing agreements and other undertakings so imposing any encumbrances on the Assigned Patents.

 

		8.	MISCELLANEOUS

 

8.1       Applicable
Law, Jurisdiction, Venue and Waiver of Jury Trial. The validity, construction, and performance of this Agreement shall be governed
by and construed in accordance with the laws of the State of New York, U.S.A., exclusive of its choice of law rules. Any legal
suit, action or proceeding arising out of or related to or arising out of this Agreement or any transaction contemplated hereby
shall be commenced solely in the United States District Court for the Southern District of New York, U.S.A., and each party (a)
irrevocably submits to the personal and exclusive jurisdiction and venue of such court in any such suit, action or proceeding,
and (b) waives any right to trial by jury with respect to any action related to or arising out of this Agreement or any transaction
contemplated hereby.

 

    Confidential – Page 15

    APPENDIX 3 – Assignment Agreement

    

 

8.2       LIMITATION
ON CONSEQUENTIAL DAMAGES. EXCEPT IN THE CASE OF INTENTIONAL MISUSE OR GROSS NEGLIGENCE, NO PARTY SHALL BE LIABLE TO ANY OTHER
FOR ANY SPECIAL, CONSEQUENTIAL OR INCIDENTAL DAMAGES, HOWEVER CAUSED, KNOWN OR UNKNOWN, ANTICIPATED OR UNANTICIPATED, EVEN IF
ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE PARTIES ACKNOWLEDGE THAT THESE LIMITATIONS ON POTENTIAL DAMAGES WERE AN ESSENTIAL
ELEMENT IN SETTING CONSIDERATION UNDER THIS AGREEMENT.

 

8.3       LIMITATION
OF LIABILITY. EXCEPT IN THE CASE OF WILLFUL MISCONDUCT, INTENTIONAL MISUSE OR GROSS NEGLIGENCE, ASSIGNOR’S TOTAL LIABILITY
UNDER THIS AGREEMENT SHALL NOT EXCEED 1.750.000,00 (one million seven hundred fifty thousand) US dollars.

 

8.4       DISCLAIMER
OF REPRESENTATIONS AND WARRANTIES. NO PARTY MAKES ANY REPRESENTATION OR WARRANTY EXCEPT FOR THEIR RESPECTIVE REPRESENTATIONS
AND WARRANTIES SET FORTH IN SECTION 8, AND EACH PARTY DISCLAIMS ALL IMPLIED WARRANTIES, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY
AND FITNESS FOR A PARTICULAR PURPOSE. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 8 HEREOF, NEITHER PARTY GIVES THE OTHER PARTY ANY
ASSURANCE (A) REGARDING THE PATENTABILITY OF ANY CLAIMED INVENTION IN, OR THE VALIDITY, OF ANY PATENT OR (B) THAT MANUFACTURE,
USE, SALE, OFFERING FOR SALE, IMPORTATION, EXPORTATION OR OTHER DISTRIBUTION OF ANY PRODUCT OR METHOD DISCLOSED AND CLAIMED IN
ANY PATENT SHALL NOT CONSTITUTE AN INFRINGEMENT OF THE INTELLECTUAL PROPERTY RIGHTS OF OTHER PERSONS. EXCEPT AS SPECIFICALLY PROVIDED
IN SECTION 8 HEREOF, THE ASSIGNED PATENTS ARE ASSIGNED “AS IS” WITHOUT ANY FURTHER REPRESENTATION OR WARRANTY.

 

8.5       Compliance
with Laws. Notwithstanding anything contained in this Agreement to the contrary, the obligations of the parties shall be subject
to all laws, present and future, of any government having jurisdiction over the parties and this transaction, and to orders, regulations,
directions or requests of any such government.

 

 8.6       Confidentiality of Terms; Announcements.

 

(a)       Other
than the existence of this Agreement and the identity of its parties all other provisions of this Agreement shall be kept in strict
confidence by the parties.

 

(b)       Neither
party shall issue any press release or otherwise make any public statement, announcement or advertisement (each, an “Announcement”)
related to this Agreement without the prior consent of the other party.

 

(c)       The
confidentiality obligations of the parties set forth in this Section 8.6 shall not apply to any disclosure (i) with the
prior consent of the other party; (ii) to any governmental body having jurisdiction to require disclosure or to any arbitral
body, to the extent required by same; (iii)       as otherwise may be required by
applicable law, regulation, rule of a stock exchange or automated quotation system, order of a governmental agency or a court
of competent jurisdiction or legal process, including tax authorities (“Applicable Law”), and to legal and
financial advisors in their capacity of advising a party in such matters; (iv) during the course of litigation, so long as
the disclosure of such terms and conditions are restricted in the same manner as is the confidential information of other
litigating parties; (v) to legal and financial advisors in their capacity of advising a party in such matters as needed in
the normal course of business; (vi) to a bona fide potential acquirer; or (vii) in connection with the Securities and
Exchange Act of 1934, as amended, the Securities Act of 1933, as amended, and any other reports filed with the Securities and
Exchange Commission or any stock exchange rule, or any other filings, reports or disclosures that may be required under
applicable law, regulations or rules; provided that, in (ii) through (vii) above, (A) the parties shall use reasonable
means available to minimize the disclosure to third parties, including seeking a confidential treatment request or protective
order whenever appropriate or available; and (B) except for permitted disclosures to legal and financial advisors and
accountants or potential acquirers and assignees, the parties provide the other party, when reasonable, with at least ten
(10) days’ prior notice of such disclosure to afford the other party reasonable opportunity to object thereto or to
seek confidential treatment or a protective order.

 

    Confidential – Page 16

    APPENDIX 3 – Assignment Agreement

    

 

8.7       Entire
Agreement; Headings. This Agreement reflects the complete understanding of the parties regarding the subject of the Agreement,
and supersedes all prior related negotiations. The section headings contained in this Agreement are for reference purposes only
and shall not affect in any way the meaning or interpretation of this Agreement.

 

8.8       Notices.
Any notice, consent, waiver or other communication required or permitted to be given by one party to the other party pursuant
to this Agreement shall be in writing, shall conspicuously reference (including in the subject line) this Agreement and the provision
to which it relates, shall be delivered by any lawful means to such other party at its address indicated below, or to such other
address as the addressee shall have last furnished in writing to the addressor, and shall be effective upon actual receipt by
the addressee:

 

	If to Assignor:	If to Assignee:
	 	 
	FORM Holdings Corp.	 
	780 Third Avenue – 12th Floor

                                           New York, New York 10017

                                           Attn: General Counsel
	 
	Email: Notices@FORMHoldings.com	 

  

8.9       Relationship
of Parties. The parties hereto are independent contractors. Neither party has any express or implied right or authority to
assume or create any obligations on behalf of the other or to bind the other to any contract, agreement or undertaking with any
third party. Nothing in this Agreement shall be construed to create a partnership, joint venture, employment or agency relationship
between Assignee and Assignor.

 

8.10       Severability.
To the extent any terms or conditions of this Agreement are held invalid or unenforceable in a jurisdiction, those terms or conditions
shall be enforced to the maximum extent possible in that jurisdiction and the remaining terms and conditions shall retain full
force and effect in that jurisdiction, so long as the remaining Agreement continues to express the intent of the parties.

 

8.11       Waiver.
Failure by either party to enforce any term of this Agreement shall not be deemed a waiver of future enforcement of that or any
other term in this Agreement.

 

    Confidential – Page 17

    APPENDIX 3 – Assignment Agreement

    

 

 8.12       Assignment; Successors; Assigns.

 

This Agreement is personal to the parties, and
except as provided in Section 8.12, neither this Agreement nor any right or obligation hereunder is Assignable by either party
(whether directly or indirectly, expressly or impliedly, voluntarily or involuntarily, in one or a series of transactions, by contract,
operation of law or otherwise (including without limitation by means of any merger, consolidation, recapitalization, liquidation,
dissolution, Change of Control, transfer or sale of all or substantially all of a business, or similar transaction)), and shall
not be Assigned by a party, without the prior express consent of the other party, which consent may be withheld at the sole discretion
of said other Party. Any purported Assignment in violation of this Section 8.12 shall be null and void. Subject to the foregoing,
this Agreement shall be binding on and inure to the benefit of the parties and their permitted successors and assigns.

 

8.13       Modifications.
This Agreement may not be modified after the Effective Date except by a written amendment that expressly references this Agreement
and that is signed by an authorized officer of each party.

 

8.14       Construction.
As used in this Agreement, (a) the words “include” and “including” and variations thereof, shall not be
deemed to be terms of limitation, but rather shall be deemed to be followed by the words “without limitation,” and
(b) unless the context otherwise requires, the word “or” shall be deemed to be an inclusive “or” and shall
have the meaning equivalent to “and/or.”

 

8.15       Signatures.
This Agreement may be executed in counterparts, each of which shall be deemed an original, but each together shall constitute
one and the same instrument. For purposes hereof, an email or facsimile copy of this Agreement, including the executed signature
pages hereto, shall be deemed to be an original. Notwithstanding the foregoing, the parties shall deliver original signature copies
of this Agreement to the other party as soon as practicable following execution thereof.

 

8.16       Specific
Performance. The parties agree that they would be irreparably damaged if any provision of this Agreement was not performed
in accordance with its specific terms or was otherwise breached and that any non-performance or breach of this Agreement by any
party could not be adequately compensated by monetary damages alone and that the parties would not have any adequate remedy at
law. Accordingly, the parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce
specifically the performance of the terms of this Agreement to prevent breaches or threatened breaches of any of the provisions
of this Agreement without posting any bond or other undertaking, in addition to any other remedy at law or in equity.

 

8.17       Mutual
Drafting. Each of the parties has participated in the drafting of this Agreement, which each of the parties acknowledges is
the result of extensive negotiations among the parties.

 

8.18       Third
Party Beneficiary. Notwithstanding the license and/or provisions granting rights to potential acquirer and/or assignee of
Royalty nothing in this Agreement, express or implied, is intended to, or shall confer upon, any third party, any legal or equitable
right, benefit or remedy of any nature whatsoever.

 

    Confidential – Page 18

    APPENDIX 3 – Assignment Agreement

    

 

 

*       *       *

 

 

[Signature Page Follows]

 

    Confidential – Page 19

    APPENDIX 3 – Assignment Agreement

    

 

IN WITNESS WHEREOF, the parties have executed this
Confidential Patent Purchase Agreement as of the Effective Date:

 

	FORM Holdings Corp.	 	[COMPANY]	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	Signature	 	Signature	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	Printed Name	 	Printed Name	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	Title	 	Title	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	Date	 	Date	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	Signature	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	Printed Name	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	Title	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	Date	 	 	 

 

    Confidential – Page 20

    APPENDIX 3 – Assignment Agreement

    

 

Exhibit
A ASSIGNED PATENTS

 

 

[TO BE ADDED]

 

    Confidential – Page 21

    APPENDIX 3 – Assignment Agreement

    

 

Exhibit B

 

ESSENTIAL CELLULAR PATENTS

 

[TO BE ADDED]

 

    Confidential – Page 22

    APPENDIX 3 – Assignment Agreement

    

 

Exhibit
C ASSIGNMENT

 

For good and valuable consideration, the receipt
of which is hereby acknowledged, FORM Holdings Corp., a Delaware corporation formerly known as Vringo Inc. (“Assignor”),
does hereby assign, transfer and convey unto                                                          ,
with an office at                                                                        (“Assignee”),
all of Assignor’s entire right, title and interest in and to (a) all Assigned Patents and patent applications listed below
(including all inventions and discoveries claimed or otherwise disclosed therein); (b) all reissues, reexaminations, continuations,
parents, continuations-in-part, divisionals and extensions (collectively “Related Cases”) of such Assigned
Patents and patent applications; (c) Assigned Patents or patent applications (i) to which
any or all of the foregoing directly or indirectly claims priority, and (ii) for which any or all of the foregoing directly or
indirectly forms a basis for priority; and (d) all Related Cases (whether pending, issued, abandoned or filed in the future) and
foreign counterparts to any or all of the foregoing , certificates of invention and equivalent rights worldwide (collectively
“Patent Rights”):

Assigned Patents specified in Exhibit
A attached hereto.

 

In addition, Assignor agrees
to and hereby does sell, assign, transfer and convey unto Assignee all rights (i) in and to causes of action and enforcement rights
for the Patent Rights including all rights to pursue damages, injunctive relief and other remedies for past, present and future
infringement of the Patent Rights, (ii) the right to apply (or continue prosecution) in any and all countries of the world for
Assigned Patents, design Assigned Patents, utility models, certificates of invention or other governmental grants for the Patent
Rights, including under the Paris Convention for the Protection of Industrial Property, the International Patent Cooperation Treaty,
or any other convention, treaty, agreement or understanding, and (iii) the rights, if any, to revive prosecution of any abandoned
Patent Rights.

 

Assignor also hereby authorizes
the respective patent office or governmental agency in each jurisdiction to issue any and all Assigned Patents or certificates
of invention or equivalent which may be granted upon any of the Patent Rights in the name of Assignee, as the assignee to the entire
interest therein.

 

The terms and conditions of
this Assignment shall inure to the benefit of Assignee, its successors, assigns and other legal representatives, and shall be binding
upon Assignor, its successor, assigns and other legal representatives.

 

    Confidential – Page 23

    APPENDIX 3 – Assignment Agreement

    

  

IN WITNESS WHEREOF, this Assignment of Patent
Rights is executed at _________ on _____________________.

 

ASSIGNOR

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

(Signature must be notarized)

 

    Confidential – Page 24PROMISSORY NOTE

$500,000.00

FOR VALUE RECEIVED, AMBASE CORPORATION ("AmBase" or the "Company") promises to pay, without setoff, deduction or counterclaim of any kind or nature to RICHARD A. BIANCO, his heirs or assigns (collectively, "Richard A. Bianco"), the principal sum of FIVE HUNDRED THOUSAND AND NO/100 DOLLARS (US $500,000), or so much thereof as has been advanced and remains unpaid, to be paid in lawful money of the United States together with interest thereon at a rate equal to 5.25% per annum, which is the prime lending rate as published by the Wall Street Journal as of the date of this Note (i.e. 3.75%), plus 1.50% point, as follows:

Interest and Maturity Date.  Interest shall accrue on the outstanding principal balance due hereunder commencing on the date hereof and continuing on all outstanding amounts until this Promissory Note (the "Note") has been paid in full.  Interest shall be calculated on the basis of a year of 360 days and paid for the actual number of days elapsed (including the first day but excluding the last day).  The entire outstanding principal balance due hereunder, all accrued interest, and any other charges or fees provided for by this Note shall be and become due and payable from AmBase to Richard A. Bianco upon the first to occur (the "Maturity Date") of the following: (a) within one (1) week after the date the Company receives funds from any source sufficient to pay all amounts due under this this Note, including  all accrued interest thereon, including without limitation, from any sale or refinancing of the Company's building at 100 Putnam Green, Greenwich, CT  06830, or (b) December 31, 2019.  As used herein the term "business day" shall mean a day of the week that is not a Saturday, Sunday or Federal banking holiday.

Prepayment.  AmBase may, at any time and from time to time without premium, penalty or advance notice (written or otherwise) from AmBase to Richard A. Bianco, prepay to Richard A. Bianco all or any portion of the outstanding balance under this Note.  Any partial prepayment shall not affect the obligation to continue to pay in full the amount outstanding hereunder until the entire unpaid principal balance hereof, along with all accrued interest, if any, and any other charges and fees, have been paid in full.

Method and Application of Payment.  AmBase shall pay all amounts payable under this Note in cash of immediately available funds: (a) by wire transfer to an account designated by Richard A. Bianco; or (b) if no account has been designated, by bank check delivered to Richard A. Bianco at the address for Richard A. Bianco set forth herein or at such other place as may be designated in writing by Richard A. Bianco.  All such payments shall be made without setoff, deduction or counterclaim.  All payments received by Richard A. Bianco under in connection with this Note shall be applied: first, to any charges or fees due under the Note; second, to accrued and unpaid interest; and third, to outstanding and unpaid principal due in connection with the Note.

Collateral.  As security for repayment of all amounts due under this Note, AmBase hereby grants to Richard A. Bianco a first priority security interest in and pledge of all shares of stock of its wholly-owned subsidiary, Maiden Lane Associates, Ltd. ("MLA"). AmBase and MLA acknowledge and agree that MLA is benefiting directly from the extension of credit to AmBase provided under this Note. AmBase hereby further agrees to cause MLA to grant to Richard A. Bianco a first priority security interest in and mortgage on the Company's building at 100 Putnam Green, Greenwich, CT  06830 (the "Building"), which is wholly owned by MLA, as security for all indebtedness under this Note.

AmBase shall take any action reasonably requested by Richard A. Bianco  to perfect his security interest in the foregoing collateral, including filing any UCC-1 financing statements with respect to MLA shares and/or the Building, and filing or recording any mortgage or other security documentation with respect to the Building.  AmBase shall pay all reasonable expenses incurred in connection with the foregoing.

Notices.  All notices, consents or other communications required or permitted to be given under this Note shall be in writing and shall be deemed to have been duly given when delivered personally or one (1) business day after being sent by a nationally recognized overnight delivery service, postage or delivery charges prepaid or five (5) business days after being sent by registered or certified mail, return receipt requested, postage charges prepaid to the addresses set forth below, or may be given by facsimile and shall be effective on the date transmitted if confirmed within 48 hours thereafter by a signed original sent in one of the manners provided in the preceding sentence:

	
If to AmBase Corporation:

	
AmBase Corporation

	 	
100 Putnam Green, 3rd Floor

	 	
Greenwich, CT  06830

	 	
ATTN:  John Ferrara

	 	
Vice President & Chief Financial Officer

	 	
Facsimile Number:  203-532-1115

	 	 
	
If to Richard A. Bianco:

	
Richard A. Bianco

	 	
c/o AmBase Corporation

	 	
One South Ocean Boulevard, Suite 301

	 	
Boca Raton, FL  33432

	 	 

Miscellaneous.

	
•

	
This Note and all matters arising out of or relating to this Note shall be governed by and construed in accordance with the laws of the State of Connecticut, applicable to agreements made and to be performed solely therein, without giving effect to principles

 of conflicts of  law.

	
•

	

	
•

	
Subject to applicable law, this Note may be amended, extended, supplemented or otherwise modified only by written agreement entered into by AmBase and Richard A. Bianco.

	
•

	
The section headings set forth in this Note are solely for the purpose of reference and shall not in any way affect the meaning or construction of this Note.  Ambiguities and uncertainties in the wording of this Note shall not be construed for or against either AmBase or Richard A. Bianco, but shall be construed in the manner that most accurately reflects AmBase and Richard A. Bianco's intent as of the date of this Note.  AmBase and Richard A. Bianco acknowledge that each has been represented by counsel in connection with the review and execution of this Note and, accordingly, there shall be no presumption that this Note, or any provision hereof, be construed against AmBase.

	
•

	
If any provision of this Note is construed to be invalid, illegal or unenforceable, then the remaining provisions hereof shall not be affected thereby and shall be enforceable without regard thereto.

	
•

	
This Note is and shall be binding upon the successors and assigns of AmBase.

	
•

	
The rights and remedies of Richard A. Bianco under this Note shall be cumulative and not alternative.  No waiver by Richard A. Bianco of any right or remedy under this Note shall be effective unless in writing signed by Richard A. Bianco.  Neither the failure nor any delay in exercising any right, power or privilege under this Note will operate as a waiver of such right, power or privilege, and no single or partial exercise of any such right, power or privilege by Richard A. Bianco will preclude any other or further exercise of such right, power or privilege or the exercise of any other right, power or privilege. To the maximum extent permitted by applicable law:  (i) no claim or right of Richard A. Bianco arising out of this Note can be discharged, in whole or in part, by a waiver or renunciation of the claim or right unless in a writing signed by Richard A. Bianco; (ii) no waiver that may be given by Richard A. Bianco will be applicable except in the specific instance for which it is given; and (iii) no notice to or demand on AmBase will be deemed to be a waiver of any obligations of AmBase or of the right of Richard A. Bianco to take further action without notice or demand as provided in this Note.  AMBASE HEREBY WAIVES PRESENTMENT, DEMAND, PROTEST AND NOTICE OF DISHONOR AND PROTEST AND OTHER DEMANDS AND NOTICES IN CONNECTION WITH THE DELIVERY, ACCEPTANCE OR ENFORCEMENT OF THIS NOTE.

	
•

	
AMBASE ACKNOWLEDGES THAT THE TRANSACTION OF WHICH THIS NOTE IS A PART IS A COMMERCIAL TRANSACTION AND HEREBY VOLUNTARILY AND KNOWINGLY WAIVES ITS RIGHT TO NOTICE AND HEARING UNDER CHAPTER 903a OF THE CONNECTICUT GENERAL STATUTES, OR AS OTHERWISE ALLOWED BY THE LAW OF ANY STATE OR FEDERAL LAW WITH RESPECT TO, FOLLOWING ANY DEFAULT IN ITS OBLIGATIONS UNDER THIS NOTE, ANY PREJUDGMENT REMEDY WHICH RICHARD A. BIANCO MAY DESIRE TO USE.

	
•

	

IN WITNESS WHEREOF, AmBase has caused this Note to be duly executed and delivered as of the date set forth below.

AmBase Corporation

 /s/ John Ferrara

John Ferrara

Vice President & Chief Financial Officer

AmBase Corporation

Dated:  January 31, 2017

 /s/ Richard A. Bianco

Richard A. Bianco

Dated:  January 31, 2017

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