Document:

Exhibit 10.2

 

PLACEMENT AGENCY AGREEMENT

 

Dawson James Securities,
Inc.

1 North Federal Highway

Boca Raton, Florida 33432

 

May 9, 2018

 

Ladies and Gentlemen:

 

This letter (this “Agreement”)
constitutes the agreement between Pareteum Corp., a Delaware corporation (the “Company”) and Dawson James Securities,
Inc. (“Dawson” or the “Placement Agent”) pursuant to which Dawson shall serve as the exclusive
placement agent (the “Services”) for the Company, on a reasonable “best efforts” basis, in connection
with the proposed offer and placement (the “Offering”) by the Company of its Securities (as defined Section
3 of this Agreement). The Company expressly acknowledges and agrees that Dawson’s obligations hereunder are on a reasonable
“best efforts” basis only and that the execution of this Agreement does not constitute a commitment by Dawson to purchase
the Securities and does not ensure the successful placement of the Securities or any portion thereof or the success of Dawson placing
the Securities.

 

		1.	Appointment of Dawson James Securities, Inc. as Exclusive Placement Agent.

 

On the basis of the
representations, warranties, covenants and agreements of the Company herein contained, and subject to all the terms and conditions
of this Agreement, the Company hereby appoints the Placement Agent as its exclusive placement agent in connection with a distribution
of its Securities to be offered and sold by the Company pursuant to a registration statement filed under the Securities Act of
1933, as amended (the “Securities Act”) on Form S-3 (File No. 333-213575), and Dawson agrees to act as the Company’s
exclusive Placement Agent. Pursuant to this appointment, the Placement Agent will solicit offers for the purchase of or attempt
to place all or part of the Securities of the Company in the proposed Offering. Until the final closing or earlier upon termination
of this Agreement pursuant to Section 5 hereof, the Company shall not, without the prior written consent of the Placement Agent,
solicit or accept offers to purchase the Securities other than through the Placement Agent. The Company acknowledges that the Placement
Agent will act as an agent of the Company and use its reasonable “best efforts” to solicit offers to purchase the Securities
from the Company on the terms, and subject to the conditions, set forth in the Prospectus (as defined below). The Placement Agent
shall use commercially reasonable efforts to assist the Company in obtaining performance by each Purchaser whose offer to purchase
Securities has been solicited by the Placement Agent, but the Placement Agent shall not, except as otherwise provided in this Agreement,
be obligated to disclose the identity of any potential purchaser or have any liability to the Company in the event any such purchase
is not consummated for any reason. Under no circumstances will the Placement Agent be obligated to underwrite or purchase any Securities
for its own account and, in soliciting purchases of the Securities, the Placement Agent shall act solely as an agent of the Company.
The Services provided pursuant to this Agreement shall be on an “agency” basis and not on a “principal”
basis.

 

The Placement Agent
will solicit offers for the purchase of the Securities in the Offering at such times and in such amounts as the Placement Agent
deems advisable. The Company shall have the sole right to accept offers to purchase Securities and may reject any such offer, in
whole or in part. The Placement Agent may retain other brokers or dealers acceptable to the Company to act as sub-agents on its
behalf in connection with the Offering and may pay any sub-agent a solicitation fee with respect to any Securities placed by it.
The Company and Placement Agent shall negotiate the timing and terms of the Offering and acknowledge that the Offering and the
provision of Placement Agent services related to the Offering are subject to market conditions and the receipt of all required
related clearances and approvals.

 

		2.	Fees; Expenses; Other Arrangements.

 

A.                  Placement
Agent’s Fee. As compensation for services rendered, the Company shall pay to the Placement Agent in cash by wire
transfer in immediately available funds to an account or accounts designated by the Placement Agent an amount
(the “Placement Fee”) equal to eight percent (8.0%) of the aggregate gross proceeds received by the
Company from the sale of the Securities, at the closing (the “Closing” and the date on which the Closing
occurs, the “Closing Date”); and the Company shall issue to the Placement Agent or its designees at the
Closing in a private placement a five-year warrant to purchase such number of Shares (as defined in Section 3) equal to 5.0%
of the Shares sold in this Offering at an exercise price of 125% of the Purchase Price per Share, which warrants shall be
exercisable at any time, during the period commencing 180 days from the date of the Offering (the “Placement Agent
Warrant” and together with the shares of Common Stock underlying the Placement Agent Warrant, the
“Placement Agent Securities”). The Placement Agent represents that it is an “accredited investor” as defined in Rule 501(a)
of Regulation D, and that it is purchasing the Placement Agent Warrants for investment purposes and not with a view to resale or
distribution. The Placement Agent has a long standing relationship with the Company, has access to information regarding the Company,
and is financially sophisticated. The Placement Agent understands that the Placement Agent Warrant is being offered and sold to
it in reliance on specific exemptions from the registration requirements of United States federal and state securities laws and
that the Company is relying in part upon the truth and accuracy of, and such Placement Agent’s compliance with, the representations,
warranties, agreements, acknowledgments and understandings of such Placement Agent set forth herein in order to determine the availability
of such exemptions and the eligibility of such Placement Agent to acquire the Securities.

 

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B.                 
Offering Expenses. The Company will be responsible for and will pay all expenses relating to the Offering, including,
without limitation, (a) all filing fees and expenses relating to the registration of the Securities with the Commission; (b) all
FINRA Public Offering filing fees; (c) all fees and expenses relating to the listing of the Company’s common stock on the
Exchange; (d) all fees, expenses and disbursements relating to the registration, qualification or exemption of the Securities under
the securities laws of such foreign jurisdictions as Dawson may reasonably designate; (e) the costs of all mailing and printing
of the Offering documents; (f) transfer and/or stamp taxes, if any, payable upon the transfer of Securities from the Company to
Investors; (g) the fees and expenses of the Company’s accountants; and (h) diligence expenses and legal fees of Dawson not
to exceed in the aggregate $65,000. The Placement Agent may deduct from the net proceeds of the Offering payable to the Company
on the Closing Date the expenses set forth herein to be paid by the Company to the Placement Agent, provided, however, that in
the event that the Offering is terminated, the Company agrees to reimburse the Placement Agent to the extent required by Section
5 hereof.

 

C.                 
Tail Financing. The Placement Agent shall be entitled to fees per Section 2.A. of this Agreement with respect to
any public or private offering or other financing or capital-raising transaction of any kind (“Tail Financing”)
to the extent that such Tail Financing is provided to the Company by any investors that participate in the Offering, if such Tail
Financing is consummated at any time within the 6-month period following the Closing Date.

 

		3.	Description of the Offering. 

 

The Securities to be
offered directly to various investors (each, an “Investor” or “Purchaser” and, collectively,
the “Investors” or the “Purchasers”) in the Offering shall consist of shares (the “Shares”
or “Securities”) of the Company’s common stock (“Common Stock”). The purchase price
for one Share shall be $2.50 per Share (the “Purchase Price”). If the Company shall default in its obligations
to deliver Securities to a Purchaser whose offer it has accepted and who has tendered payment, the Company shall indemnify and
hold the Placement Agent harmless against any loss, claim, damage or expense arising from or as a result of such default by the
Company under this Agreement.

 

		4.	Delivery and Payment; Closing.

 

Settlement of the Securities
purchased by an Investor shall be made as set forth in the Securities Purchase Agreement dated May 9, 2018 between the Company
and the Investors (the “Securities Purchase Agreement”). On the Closing Date, the Shares to which the Closing
relates shall be delivered through such means as the parties to the Securities Purchase Agreement may hereafter agree. The Securities
shall be registered in such name or names and in such authorized denominations as set forth in the Securities Purchase Agreement.
The term “Business Day” means any day other than a Saturday, a Sunday or a legal holiday or a day on which banking
institutions are authorized or obligated by law to close in New York, New York.

 

The Closing shall occur
at such place as shall be agreed upon by the Placement Agent and the Company. In the absence of an agreement to the contrary, each
Closing shall take place at the offices of Schiff Hardin LLP, 901 K Street, NW, Suite 700, Washington, DC 20001. Deliveries of
the documents with respect to the purchase of the Securities, if any, shall be made at the offices of Schiff Hardin, LLP, 901 K
Street, NW, Suite 700, Washington, DC 20001 on the Closing Date. All actions taken at a Closing shall be deemed to have occurred
simultaneously.

 

		5.	Term and Termination of Agreement. 

 

The term of this Agreement
will commence upon the execution of this Agreement and will terminate at the earlier of the Closing of the Offering or 11:59 p.m.
(New York Time) on the fifth Business Day after the date hereof. Notwithstanding anything to the contrary contained herein, any
provision in this Agreement concerning or relating to confidentiality, indemnification, contribution, advancement, the Company’s
representations and warranties and the Company’s obligations to pay fees and reimburse expenses will survive any expiration
or termination of this Agreement. If any condition specified in Section 8 is not satisfied when and as required to be satisfied,
this Agreement may be terminated by the Placement Agent by notice to the Company at any time on or prior to a Closing Date, which
termination shall be without liability on the part of any party to any other party, except that those portions of this Agreement
specified in Section 19 shall at all times be effective and shall survive such termination. Notwithstanding anything to the
contrary in this Agreement, in the event that this Agreement shall not be carried out for any reason whatsoever, within the time
specified herein or any extensions thereof pursuant to the terms herein, the Company shall be obligated to pay to the Placement
Agent the expenses provided for in Section 2.B. above and upon demand the Company shall pay the full amount thereof to the Placement
Agent.

 

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		6.	Permitted Acts. 

 

Nothing in this Agreement
shall be construed to limit the ability of the Placement Agent, its officers, directors, employees, agents, associated persons
and any individual or entity “controlling,” controlled by,” or “under common control” with the Placement
Agent (as those terms are defined in Rule 405 under the Securities Act) to conduct its business including without limitation the
ability to pursue, investigate, analyze, invest in, or engage in investment banking, financial advisory or any other business relationship
with any individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

		7.	Representations, Warranties and Covenants of the Company.

 

As of the date and
time of the execution of this Agreement, the Closing Date and the Initial Sale Time (as defined herein), the Company (i) makes
such representations and warranties to the Placement Agent as the Company makes to the Investors pursuant to the Securities Purchase
Agreement, and (ii) further represents, warrants and covenants to the Placement Agent, other than as disclosed in any of its filings
with the Securities and Exchange Commission (the “Commission”), that:

 

A.                 
Registration Matters.

 

		i.	The Company has filed with the Commission a registration statement on Form S-3 (File No. 333-213575)
including a related prospectus, for the registration of certain securities (the “Shelf Securities”), including
the Shares under the Securities Act, and the rules and regulations thereunder (the “Securities Act Regulations”).
The registration statement has been declared effective under the Securities Act by the Commission. The “Registration Statement,”
as of any time, means such registration statement as amended by any post-effective amendments thereto to such time, including the
exhibits and any schedules thereto at such time, the documents incorporated or deemed to be incorporated by reference therein at
such time pursuant to Form S-3 under the Securities Act and the documents otherwise deemed to be a part thereof as of such time
pursuant to Rule 430A (“Rule 430A”) or Rule 430B under the Securities Act Regulations (“Rule 430B”);
provided, however, that the “Registration Statement” without reference to a time means such registration statement
as amended by any post-effective amendments thereto as of the time of the first contract of sale for the Securities, which time
shall be considered the “new effective date” of such registration statement with respect to the Securities within the
meaning of paragraph (f)(2) of Rule 430B, including the exhibits and schedules thereto as of such time, the documents incorporated
or deemed incorporated by reference therein at such time pursuant to Form S-3 under the Securities Act and the documents otherwise
deemed to be a part thereof as of such time pursuant to Rule 430A or Rule 430B. Any registration statement filed pursuant to Rule
462(b) of the Securities Act Regulations is hereinafter called the “Rule 462(b) Registration Statement,” and
after such filing the term “Registration Statement” shall include the Rule 462(b) Registration Statement. The prospectus
covering the Shelf Securities in the form first used to confirm sales of the Securities (or in the form first made available to
the Placement Agent by the Company to meet requests of purchasers pursuant to Rule 173 under the Securities Act) is hereinafter
referred to as the “Base Prospectus.” The Base Prospectus, as supplemented by the prospectus supplement specifically
related to the Securities in the form first used to confirm sales of the Securities (or in the form first made available to the
Placement Agent by the Company to meet requests of purchasers pursuant to Rule 173 under the Securities Act), is hereinafter referred
to, collectively, as the “Prospectus,” and the term “Preliminary Prospectus” means any preliminary
form of the Prospectus, including any preliminary prospectus supplement specifically related to the Securities filed with the Commission
by the Company with the consent of the Placement Agent.

 

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		ii.	All references in this Agreement to financial statements and schedules and other information which
is “contained,” “included” or “stated” (or other references of like import) in the Registration
Statement, any Preliminary Prospectus or the Prospectus shall be deemed to include all such financial statements and schedules
and other information incorporated or deemed incorporated by reference in the Registration Statement, such Preliminary Prospectus
or the Prospectus, as the case may be, prior to the execution and delivery of this Agreement; and all references in this Agreement
to amendments or supplements to the Registration Statement, any Preliminary Prospectus or the Prospectus shall be deemed to include
the filing of any document under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the
rules and regulations thereunder (the “Exchange Act Regulations”), incorporated or deemed to be incorporated
by reference in the Registration Statement, such Preliminary Prospectus or the Prospectus, as the case may be, at or after the
execution and delivery of this Agreement.

 

		iii.	The term “Disclosure Package” means (i) the Preliminary Prospectus, as most
recently amended or supplemented immediately prior to the Initial Sale Time (as defined herein), (ii) the Issuer Free Writing Prospectuses
(as defined below), if any, identified in Schedule I hereto, and (iii) any other Free Writing Prospectus (as defined below) that
the parties hereto shall hereafter expressly agree to treat as part of the Disclosure Package.

 

		iv.	The term “Issuer Free Writing Prospectus” means any issuer free writing prospectus,
as defined in Rule 433 of the Securities Act Regulations. The term “Free Writing Prospectus” means any free
writing prospectus, as defined in Rule 405 of the Securities Act Regulations.

 

		v.	Neither the Company nor any of the subsidiaries, nor any of their respective affiliates, officers,
directors or, to the Company’s knowledge, any beneficial owner of 5% or more of the Company's equity securities, (i) is required
to register as a “broker” or “dealer” in accordance with the provisions of the Exchange Act or the Exchange
Act Regulations, or (ii) has any direct or indirect affiliation or association with any member firm of Financial Industry Regulatory
Authority, Inc. (“FINRA”) (as determined in accordance with the rules and regulations of FINRA).

 

		vi.	Any Preliminary Prospectus when filed with the Commission, and the Registration Statement as of
each effective date and as of the date hereof, complied or will comply, and the Prospectus and any further amendments or supplements
to the Registration Statement, any Preliminary Prospectus or the Prospectus will, when they become effective or are filed with
the Commission, as the case may be, comply, in all material respects, with the requirements of the Securities Act and the Securities
Act Regulations; and the documents incorporated by reference in the Registration Statement, any Preliminary Prospectus or the Prospectus
complied, and any further documents so incorporated will comply, when filed with the Commission, in all material respects to the
requirements of the Exchange Act and Exchange Act Regulations.

 

		vii.	The issuance by the Company of the Securities has been registered under the Securities Act. The
Securities will be issued pursuant to the Registration Statement and the Securities will be freely transferable and freely tradable
by each of the Investors without restriction, unless otherwise restricted by applicable law or regulation.

 

B.                 
Stock Exchange Listing. The Shares (and the Common Stock underlying the Placement Agent Securities) shall be approved
for listing on the NYSE American (the “Exchange”) on or before the Closing Date and the Company has taken no
action designed to, or likely to have the effect of, delisting the shares of Common Stock from the Exchange, nor has the Company
received any notification that the Exchange is contemplating terminating such listing, except as disclosed in the SEC Reports.
For purposes hereof, “SEC Reports” shall refer to all reports, schedules, forms, statements and other documents required
to be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof
(the foregoing materials, including the exhibits thereto and documents incorporated by reference therein.

 

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C.                 
No Stop Orders, etc. To the Company's knowledge, neither the Commission nor any state regulatory authority has issued
any order preventing or suspending the use of the Registration Statement, any Preliminary Prospectus or the Prospectus or has instituted
or, to the Company's knowledge, threatened to institute, any proceedings with respect to such an order. The Company has complied
with each request (if any) from the Commission for additional information.

 

D.                 
Disclosures in Registration Statement.

 

		i.	Compliance with Securities Act and 10b-5 Representation. 

 

(a)                
Each of the Registration Statement and any post-effective amendment thereto, at the time it became effective, complied in
all material respects with the requirements of the Securities Act and the Securities Act Regulations. The Preliminary Prospectus
and the Prospectus, at the time each was or will be filed with the Commission, complied or will comply in all material respects
with the requirements of the Securities Act and the Securities Act Regulations. The Preliminary Prospectus delivered to the Placement
Agent for use in connection with this Offering and the Prospectus was or will be identical to the electronically transmitted copies
thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T.

 

(b)               
Neither the Registration Statement nor any amendment thereto, at its effective time, as of 8:00 a.m. (Eastern time) on the
date of this Agreement (the “Initial Sale Time”), and at the Closing Date, contained, contains or will contain
an untrue statement of a material fact or omitted, omits or will omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading; provided, however, that this representation and warranty shall not apply
to statements made or statements omitted in reliance upon and in conformity with written information furnished to the Company with
respect to the Placement Agent by the Placement Agent expressly for use in the Registration Statement or any amendment thereof
or supplement thereto. The parties acknowledge and agree that such information provided by or on behalf of any Placement Agent
consists solely of the following disclosure contained in the following paragraphs in the “Plan of Distribution” section
of the Prospectus: (i) the name of the Placement Agent, and (ii) the information under the subsection “Fees and Expenses”
(the “Placement Agent’s Information”).

 

(c)                
The Disclosure Package, as of the Initial Sale Time and at the Closing Date, did not, does not and will not include an untrue
statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading; and each Issuer Free Writing Prospectus does not conflict with the
information contained in the Registration Statement, any Preliminary Prospectus, or the Prospectus, and each such Issuer Free Writing
Prospectus, as supplemented by and taken together with the Preliminary Prospectus as of the Initial Sale Time, did not include
an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light
of the circumstances under which they were made, not misleading; provided, however, that this representation and warranty shall
not apply to statements made or statements omitted in reliance upon and in conformity with written information furnished to the
Company with respect to the Placement Agent by the Placement Agent expressly for use in the Registration Statement, the Preliminary
Prospectus or the Prospectus or any amendment thereof or supplement thereto. The parties acknowledge and agree that such information
provided by or on behalf of any Placement Agent consists solely of the Placement Agent’s Information; and

 

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(d)               
 Neither the Prospectus nor any amendment or supplement thereto, as of its issue date, at the time of any filing with the
Commission pursuant to Rule 424(b), at the Closing Date, included, includes or will include an untrue statement of a material fact
or omitted, omits or will omit to state a material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading; provided, however, that this representation and warranty shall not apply
to the Placement Agent's Information.

 

		ii.	Disclosure of Agreements. The agreements and documents described in the Registration Statement,
the Disclosure Package and the Prospectus conform in all material respects to the descriptions thereof contained therein and there
are no agreements or other documents required by the Securities Act and the Securities Act Regulations to be described in the Registration
Statement, the Disclosure Package and the Prospectus or to be filed with the Commission as exhibits to the Registration Statement,
that have not been so described or filed. Each agreement or other instrument (however characterized or described) to which the
Company is a party or by which it is or may be bound or affected and (i) that is referred to in the Registration Statement, the
Disclosure Package and the Prospectus, and (ii) is material to the Company's business, has been duly authorized and validly executed
by the Company, is in full force and effect in all material respects and is enforceable against the Company and, to the Company's
knowledge, the other parties thereto, in accordance with its terms, except (x) as such enforceability may be limited by bankruptcy,
insolvency, reorganization or similar laws affecting creditors' rights generally, (y) as enforceability of any indemnification
or contribution provision may be limited under the federal and state securities laws, and (z) that the remedy of specific performance
and injunctive and other forms of equitable relief may be subject to the equitable defenses and to the discretion of the court
before which any proceeding therefor may be brought. None of such agreements or instruments has been assigned by the Company, and
neither the Company nor, to the Company's knowledge, any other party is in default thereunder and, to the Company's knowledge,
no event has occurred that, with the lapse of time or the giving of notice, or both, would constitute a default thereunder, except
as disclosed in the Registration Statement, the Disclosure Package and the Prospectus. To the Company's knowledge, performance
by the Company of the material provisions of such agreements or instruments will not result in a violation of any existing applicable
law, rule, regulation, judgment, order or decree of any governmental agency or court, domestic or foreign, having jurisdiction
over the Company or any of its assets or businesses (each, a “Governmental Entity”), including, without limitation,
those relating to environmental laws and regulations.

 

		iii.	Regulations. The disclosures in the Registration Statement, the Disclosure Package and the
Prospectus concerning the effects of federal, state, local and all foreign regulation on the Offering and the Company's business
as currently contemplated are correct in all material respects and no other such regulations are required to be disclosed in the
Registration Statement, the Disclosure Package and the Prospectus which are not so disclosed.

 

		iv.	Changes After Dates in Registration Statement.

 

(a)                
No Material Adverse Change. Since the respective dates as of which information is given in the Registration Statement,
the Disclosure Package and the Prospectus, except as otherwise specifically stated therein and except as stated in the SEC Reports:
(i) there has been no material adverse change in the financial position or results of operations of the Company, nor any change
or development that, singularly or in the aggregate, would involve a material adverse change, in or affecting the condition (financial
or otherwise), results of operations, business, assets or prospects of the Company (a “Material Adverse Change”);
(ii) there have been no material transactions entered into by the Company, other than as contemplated pursuant to this Agreement;
and (iii) no officer or director of the Company has resigned from any position with the Company.

 

(b)               
Recent Securities Transactions, etc. Subsequent to the respective dates as of which information is given in the Registration
Statement, the Disclosure Package and the Prospectus, and except as may otherwise be indicated or contemplated herein or disclosed
in the Registration Statement, the Disclosure Package, the Prospectus and the SEC Reports, the Company has not: (i) issued any
securities (other than (i) grants under any stock compensation plan and (ii) shares of common stock issued upon exercise or conversion
of option, warrants or convertible securities described in the Registration Statement, the Disclosure Package and the Prospectus)
or incurred any liability or obligation, direct or contingent, for borrowed money; or (ii) declared or paid any dividend or made
any other distribution on or in respect to its capital stock.

 

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E.                  
Transactions Affecting Disclosure to FINRA.

 

i.                       
Finder's Fees. Except as described in the Registration Statement, the Disclosure Package and the Prospectus, there
are no claims, payments, arrangements, agreements or understandings relating to the payment of a finder's, consulting or origination
fee by the Company or any executive officer or director of the Company (each an, “Insider”) with respect to
the sale of the Securities hereunder or any other arrangements, agreements or understandings of the Company or, to the Company's
knowledge, any of its stockholders that may affect the Placement Agent’s compensation, as determined by FINRA.

 

ii.                       
Payments Within Twelve (12) Months. Except as described in the Registration Statement, the Disclosure Package and
the Prospectus, the Company has not made any direct or indirect payments (in cash, securities or otherwise) to: (i) any person,
as a finder's fee, consulting fee or otherwise, in consideration of such person raising capital for the Company or introducing
to the Company persons who raised or provided capital to the Company; (ii) any FINRA member; or (iii) any person or entity that
has any direct or indirect affiliation or association with any FINRA member, within the twelve (12) months prior to the date hereof,
other than (A) the payment to the Placement Agent as provided hereunder in connection with the Offering, (B) other payments to
Dawson under other engagement letters, and (C) payments to agents in connection with certain registered exchange offers of securities.

 

iii.                       
Use of Proceeds. None of the net proceeds of the Offering will be paid by the Company to any participating FINRA
member or its affiliates, except as specifically authorized herein.

 

iv.                       
FINRA Affiliation. There is no (i) officer or director of the Company, (ii) to the Company’s knowledge, beneficial
owner of 5% or more of any class of the Company's securities or (iii) to the Company’s knowledge, beneficial owner of the
Company's unregistered equity securities which were acquired during the 180-day period immediately preceding the filing of the
Registration Statement that is an affiliate or associated person of a FINRA member participating in the Offering (as determined
in accordance with the rules and regulations of FINRA).

 

v.                       
Information. To the Company's knowledge, all information provided by the Company's officers and directors in their
FINRA Questionnaires to counsel to the Placement Agent specifically for use by counsel to the Placement Agent in connection with
its Public Offering System filings (and related disclosure) with FINRA is true, correct and complete in all material respects.

 

F.                  
Officers' Certificate. Any certificate signed by any duly authorized officer of the Company and delivered to you
or to Placement Agent Counsel shall be deemed a representation and warranty by the Company to the Placement Agent as to the matters
covered thereby.

 

G.                 
Ineligible Issuer. At the time of filing the Registration Statement and any post-effective amendment thereto, at
the time of effectiveness of the Registration Statement and any amendment thereto, at the earliest time thereafter that the Company
or another offering participant made a bona fide offer (within the meaning of Rule 164(h)(2) of the Securities Act Regulations)
of the Securities and at the date hereof, the Company was not and is not an “ineligible issuer,” as defined in Rule
405 of the Securities Act Rules, without taking account of any determination by the Commission pursuant to Rule 405 of the Securities
Act Rules that it is not necessary that the Company be considered an ineligible issuer.

 

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H.                 
Industry Data. The statistical and market-related data included in each of the Registration Statement, the Disclosure
Package and the Prospectus are based on or derived from sources that the Company reasonably and in good faith believes are reliable
and accurate or represent the Company's good faith estimates that are made on the basis of data derived from such sources.

 

I.                   
Forward-Looking Statements. No forward-looking statement (within the meaning of Section 27A of the Securities Act
and Section 21E of the Exchange Act) contained in the Registration Statement, the Disclosure Package or the Prospectus has been
made or reaffirmed without a reasonable basis or has been disclosed other than in good faith.

 

J.                   
Integration. Neither the Company, nor any of its affiliates, nor any person acting on its or 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
cause the Offering to be integrated with prior offerings by the Company for purposes of the Securities Act that would require the
registration of any such securities under the Securities Act.

 

K.                   Restriction
on Sales of Capital Stock. The Company, on behalf of itself and any successor entity, agrees that it will not, for a period
of 60 days after the date of this Agreement (the “Lock-Up Period”), without the prior written consent of the
Placement Agent (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract
to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any
shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital
stock of the Company; or (ii) file or cause to be filed any registration statement with the Commission relating to the offering
of any shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital
stock of the Company other than the filing of a resale registration statement on Form S-3 to register the underlying securities
of certain warrant holders and any registration statement on Form S-4 with respect to any acquisitions. The restrictions contained
in this Section 7.K shall not apply to issuances under the Company’s 2017 Long Term Incentive Compensation Plan and the following
transactions: (i) any capital raising efforts related to the restructuring of senior secured debt or conversion of existing debt,
(ii) the issuance of shares to vendors at a price not below the then current market price for the Company’s common stock,
(iii) investments in the Company by certain European investors affiliated with the Company and/or its directors, and (iv) a capital
infusion by a strategic investor.

 

L.                    Placement
Agent Warrant Resale Registration. The Company represents, warrants and agrees that it will register the offer and resale of
the shares of Common Stock underlying the Placement Agent Warrant on or before the date that the Placement Agent Warrant may be
exercised.

 

M.                  With
respect to the Placement Agent Warrant to be offered and sold hereunder in reliance on Rule 506(b) under the 1933 Act, the Company
represents and warrants that none of the Company, any of its predecessors, any affiliated issuer, any director, executive officer,
other officer of the Company participating in the offering contemplated hereby, to the Company’s knowledge 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 Buyers a copy of any disclosures provided thereunder.

 

		8.	Conditions of the Obligations of the Placement Agent. 

 

The obligations of
the Placement Agent hereunder shall be subject to the accuracy of the representations and warranties on the part of the Company
set forth in Section 7 hereof, in each case as of the date hereof and as of the Closing Date as though then made, to the timely
performance by each of the Company of its covenants and other obligations hereunder on and as of such dates, and to each of the
following additional conditions: 

 

A.                 
Regulatory Matters.

 

i.                       
Effectiveness of Registration Statement; Rule 424 Information. The Registration Statement is effective on the date
of this Agreement, and, on the Closing Date no stop order suspending the effectiveness of the Registration Statement or any post-effective
amendment thereto has been issued under the Securities Act, no order preventing or suspending the use of any Preliminary Prospectus
or the Prospectus has been issued and no proceedings for any of those purposes have been instituted or are pending or, to the Company’s
knowledge, contemplated by the Commission. The Company has complied with each request (if any) from the Commission for additional
information. All filings with the Commission required by Rule 424 under the Securities Act to have been filed by the Closing Date,
shall have been made within the applicable time period prescribed for such filing by Rule 424.

 

    	 	8	 

     

    

 

ii.                       
FINRA Clearance. On or before the Closing Date of this Agreement, the Placement Agent shall have received clearance
from FINRA as to the amount of compensation allowable or payable to the Placement Agent as described in the Registration Statement.

 

B.                 
Company Counsel Matters.

 

		i.	On the Closing Date, the Placement Agent shall have received the favorable opinion of Sichenzia
Ross Ference Kesner LLP, outside counsel for the Company counsel to the Company, dated the Closing Date and addressed to the Placement
Agent, substantially in form and substance reasonably satisfactory to the Placement Agent.

 

C.                 
Officers’ Certificates.

 

i.                       
Officers’ Certificate. The Company shall have furnished to the Placement Agent a certificate, dated the Closing
Date, of its Chief Executive Officer and its Chief Financial Officer stating that (i) such officers have carefully examined the
Registration Statement, the Disclosure Package, any Issuer Free Writing Prospectus and the Prospectus and, in their opinion, the
Registration Statement and each amendment thereto, as of the Initial Sale Time and through the Closing Date did not include any
untrue statement of a material fact and did not omit to state a material fact required to be stated therein or necessary to make
the statements therein not misleading, and the Disclosure Package, as of the Initial Sale Time through the Closing Date, any Issuer
Free Writing Prospectus as of its date and as of the Closing Date, the Prospectus and each amendment or supplement thereto, as
of the respective date thereof and as of the Closing Date, did not include any untrue statement of a material fact and did not
omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances in which they
were made, not misleading, (ii) since the filing of the most recent Form 10-K, no event has occurred which should have been set
forth in a supplement or amendment to the Registration Statement, the Disclosure Package or the Prospectus, (iii) to their knowledge
after reasonable investigation, as of the Closing Date, the representations and warranties of the Company in this Agreement are
true and correct, and the Company has complied with all agreements and satisfied all conditions on its part to be performed or
satisfied hereunder at or prior to the Closing Date, and (iv) there has not been, subsequent to the date of the most recent audited
financial statements included in the Disclosure Package, any Material Adverse Change in the financial position or results of operations
of the Company, or any change or development that, singularly or in the aggregate, would involve a Material Adverse Change or a
prospective Material Adverse Change, in or affecting the condition (financial or otherwise), results of operations, business, assets
or prospects of the Company, except as set forth in the Prospectus.

 

ii.                       
Secretary’s Certificate. As of the Closing Date the Placement Agent shall have received a certificate of the
Company signed by the Secretary of the Company, dated the Closing Date, certifying: (i) that each of the Company’s Charter
and Bylaws is true and complete, has not been modified and is in full force and effect; (ii) that the resolutions of the Company’s
Board of Directors relating to the Offering are in full force and effect and have not been modified; and (iii) the good standing
of the Company and its subsidiaries. The documents referred to in such certificate shall be attached to such certificate.

 

D.                 
No Material Changes. Prior to and on the Closing Date: (i) there shall have been no Material Adverse Change or development
involving a prospective Material Adverse Change in the condition or prospects or the business activities, financial or otherwise,
of the Company from the latest dates as of which such condition is set forth in the Registration Statement, the Disclosure Package
and the Prospectus; (ii) no action, suit or proceeding, at law or in equity, shall have been pending or threatened against the
Company or any affiliates of the Company before or by any court or federal or state commission, board or other administrative agency
wherein an unfavorable decision, ruling or finding may materially adversely affect the business, operations, prospects or financial
condition or income of the Company, except as set forth in the Registration Statement, the Disclosure Package and the Prospectus;
(iii) no stop order shall have been issued under the Securities Act and no proceedings therefor shall have been initiated or threatened
by the Commission; and (iv) the Registration Statement, the Disclosure Package and the Prospectus and any amendments or supplements
thereto shall contain all material statements which are required to be stated therein in accordance with the Securities Act and
the Securities Act Regulations and shall conform in all material respects to the requirements of the Securities Act and the Securities
Act Regulations, and neither the Registration Statement, the Disclosure Package nor the Prospectus nor any amendment or supplement
thereto shall contain any untrue statement of a material fact or omit to state any material fact required to be stated therein
or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.

 

    	 	9	 

     

    

 

E.                  
Reservation of Common Stock. So long as the Placement Agent Warrant remains outstanding, the Company shall take all
action necessary to at all times have authorized, and reserved for the purpose of issuance, no less than 100% of the maximum number
of shares of Common Stock issuable upon exercise of the Placement Agent Warrant.

 

F.                  
Lock-Up Agreements. At the Closing Date, the Company's directors and executive officers will enter into customary
“lock-up” agreements in favor of the Placement Agent for a period of 45 days from the date of the Offering.

 

G.                 
Additional Documents. At the Closing Date, Placement Agent Counsel shall have been furnished with such documents
and opinions as they may require in order to evidence the accuracy of any of the representations or warranties, or the fulfillment
of any of the conditions, herein contained; and all proceedings taken by the Company in connection with the issuance and sale of
the Securities as herein contemplated shall be satisfactory in form and substance to the Placement Agent and Placement Agent Counsel.

 

		9.	Indemnification and Contribution; Procedures. 

 

A.                 
Indemnification of the Placement Agent. The Company agrees to indemnify and hold harmless the Placement Agent, its
affiliates and each person controlling such Placement Agent (within the meaning of Section 15 of the Securities Act), and the directors,
officers, agents and employees of the Placement Agent, its affiliates and each such controlling person (the Placement Agent, and
each such entity or person hereafter is referred to as an “Indemnified Person”) from and against any losses,
claims, damages, judgments, assessments, costs and other liabilities (collectively, the “Liabilities”), and
shall reimburse each Indemnified Person for all fees and expenses (including the reasonable fees and expenses of counsel for the
Indemnified Persons, except as otherwise expressly provided in this Agreement) (collectively, the “Expenses”)
and agrees to advance payment of such Expenses as they are incurred by an Indemnified Person in investigating, preparing, pursuing
or defending any actions, whether or not any Indemnified Person is a party thereto, arising out of or based upon any untrue statement
or alleged untrue statement of a material fact contained in (i) the Registration Statement, the Disclosure Package, the Preliminary
Prospectus, the Prospectus or in any Issuer Free Writing Prospectus (as from time to time each may be amended and supplemented);
(ii) any materials or information provided to investors by, or with the approval of, the Company in connection with the marketing
of the Offering, including any “road show” or investor presentations made to investors by the Company (whether in person
or electronically); or (iii) any application or other document or written communication (in this Section 9, collectively called
“application”) executed by the Company or based upon written information furnished by the Company in any jurisdiction
in order to qualify the Securities under the securities laws thereof or filed with the Commission, any state securities commission
or agency, any national securities exchange; or the omission or alleged omission therefrom of a material fact required to be stated
therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading,
unless such statement or omission was made in reliance upon, and in conformity with, the Placement Agent’s information. The
Company also agrees to reimburse each Indemnified Person for all Expenses as they are incurred in connection with such Indemnified
Person’s enforcement of his or its rights under this Agreement.

 

B.                 
Procedure. Upon receipt by an Indemnified Person of actual notice of an action against such Indemnified Person with
respect to which indemnity may reasonably be expected to be sought under this Agreement, such Indemnified Person shall promptly
notify the Company in writing; provided that failure by any Indemnified Person so to notify the Company shall not relieve the Company
from any obligation or liability which the Company may have on account of this Section 9 or otherwise to such Indemnified Person,
except to the extent (and only to the extent) that its ability to assume the defense is actually impaired by such failure or delay.
The Company shall, if requested by the Placement Agent, assume the defense of any such action (including the employment of counsel
and reasonably satisfactory to the Placement Agent). Any Indemnified Person shall have the right to employ separate counsel in
any such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such
Indemnified Person unless: (i) the Company has failed promptly to assume the defense and employ counsel for the benefit of the
Placement Agent and the other Indemnified Persons or (ii) such Indemnified Person shall have been advised that in the opinion of
counsel that there is an actual or potential conflict of interest that prevents (or makes it imprudent for) the counsel engaged
by the Company for the purpose of representing the Indemnified Person, to represent both such Indemnified Person and any other
person represented or proposed to be represented by such counsel, it being understood, however, that
the Company shall not be liable for the expenses of more than one separate counsel
(together with local counsel), representing the Placement Agent and all Indemnified persons
who are parties to such action. The Company shall not be liable for any settlement of any action effected without its written
consent (which shall not be unreasonably withheld). In addition, the Company shall not, without the prior written consent of the
Placement Agent, settle, compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened
action in respect of which advancement, reimbursement, indemnification or contribution may be sought hereunder (whether or not
such Indemnified Person is a party thereto) unless such settlement, compromise, consent or termination (i) includes an unconditional
release of each Indemnified Person, acceptable to such Indemnified Party, from all Liabilities arising out of such action for which
indemnification or contribution may be sought hereunder and (ii) does not include a statement as to or an admission of fault, culpability
or a failure to act, by or on behalf of any Indemnified Person. The advancement, reimbursement, indemnification and contribution
obligations of the Company required hereby shall be made by periodic payments of the amount thereof during the course of the investigation
or defense, as every Liability and Expense is incurred and is due and payable, and in such amounts as fully satisfy each and every
Liability and Expense as it is incurred (and in no event later than 30 days following the date of any invoice therefor).

 

    	 	10	 

     

    

 

C.                 
Indemnification of the Company. The Placement Agent agrees to indemnify and hold harmless the Company, its directors,
its officers who signed the Registration Statement and persons who control the Company within the meaning of Section 15 of the
Securities Act or Section 20 of the Exchange Act against any and all Liabilities, but only with respect to untrue statements or
omissions, or alleged untrue statements or omissions made in the Registration Statement, any Preliminary Prospectus, the Disclosure
Package or Prospectus or any amendment or supplement thereto, in reliance upon, and in strict conformity with, the Placement Agent’s
Information. In case any action shall be brought against the Company or any other person so indemnified based on any Preliminary
Prospectus, the Registration Statement, the Disclosure Package or Prospectus or any amendment or supplement thereto, and in respect
of which indemnity may be sought against the Placement Agent, the Placement Agent shall have the rights and duties given to the
Company, and the Company and each other person so indemnified shall have the rights and duties given to the Placement Agent by
the provisions of Section 9.B. The Company agrees promptly to notify the Placement Agent of the commencement of any litigation
or proceedings against the Company or any of its officers, directors or any person, if any, who controls the Company within the
meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, in connection with the issuance and sale of the
Securities or in connection with the Registration Statement, the Disclosure Package, the Prospectus or any Issuer Free Writing
Prospectus, provided, that failure by the Company so to notify the Placement Agent shall
not relieve the Placement Agent from any obligation or liability which the Placement Agent may have on account of this Section
9.C. or otherwise to the Company, except to the extent the Placement Agent is materially prejudiced as a proximate result of such
failure..

 

D.                 
Contribution. In the event that a court of competent jurisdiction makes a finding that indemnity is unavailable to
any indemnified person, then each indemnifying party shall contribute to the Liabilities and Expenses paid or payable by such indemnified
person in such proportion as is appropriate to reflect (i) the relative benefits to the Company, on the one hand, and to the Placement
Agent and any other Indemnified Person, on the other hand, of the matters contemplated by this Agreement or (ii) if the allocation
provided by the immediately preceding clause is not permitted by applicable law, not only such relative benefits but also the relative
fault of the Company, on the one hand, and the Placement Agent and any other Indemnified Person, on the other hand, in connection
with the matters as to which such Liabilities or Expenses relate, as well as any other relevant equitable considerations; provided
that in no event shall the Company contribute less than the amount necessary to ensure that all Indemnified Persons, in the aggregate,
are not liable for any Liabilities and Expenses in excess of the amount of commissions actually received by the Placement Agent
pursuant to this Agreement. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied
by the Company on the one hand or the Placement Agent on the other and the parties’ relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission. The Company and the Placement Agent agree that it
would not be just and equitable if contributions pursuant to this subsection (D) were determined by pro rata allocation or by any
other method of allocation which does not take account of the equitable considerations referred to above in this subsection (D).
For purposes of this paragraph, the relative benefits to the Company, on the one hand, and to the Placement Agent on the other
hand, of the matters contemplated by this Agreement shall be deemed to be in the same proportion as: (a) the total value received
by the Company in the Offering, whether or not such Offering is consummated, bears to (b) the commissions paid to the Placement
Agent under this Agreement. Notwithstanding the above, no person guilty of fraudulent misrepresentation within the meaning of Section
11(f) of the Securities Act shall be entitled to contribution from a party who was not guilty of fraudulent misrepresentation.

 

    	 	11	 

     

    

 

E.                  
Limitation. The Company also agrees that no Indemnified Person shall have any liability (whether direct or indirect,
in contract or tort or otherwise) to the Company for or in connection with advice or services rendered or to be rendered by any
Indemnified Person pursuant to this Agreement, the transactions contemplated thereby or any Indemnified Person’s actions
or inactions in connection with any such advice, services or transactions, except to the extent that a court of competent jurisdiction
has made a finding that Liabilities (and related Expenses) of the Company have resulted primarily from such Indemnified Person’s
gross negligence or willful misconduct in connection with any such advice, actions, inactions or services.

 

F.                  
Survival. The advancement, reimbursement, indemnity and contribution obligations set forth in this Section 9 shall
remain in full force and effect regardless of any termination of, or the completion of any Indemnified Person’s services
under or in connection with, this Agreement. Each Indemnified Person is an intended third-party beneficiary of this Section 9,
and has the right to enforce the provisions of Section 9 as if he/she/it was a party to this Agreement.

 

		10.	Limitation of Dawson’s Liability to the Company. 

 

Dawson and the Company
further agree that neither Dawson nor any of its affiliates or any of their respective officers, directors, controlling persons
(within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act), employees or agents shall have any
liability to the Company, its security holders or creditors, or any person asserting claims on behalf of or in the right of the
Company (whether direct or indirect, in contract or tort, for an act of negligence or otherwise) for any losses, fees, damages,
liabilities, costs, expenses or equitable relief arising out of or relating to this Agreement or the Services rendered hereunder,
except for losses, fees, damages, liabilities, costs or expenses that arise out of or are based on any action of or failure to
act by Dawson and that are finally judicially determined to have resulted solely from the gross negligence or willful misconduct
of Dawson.

 

		11.	Limitation of Engagement to the Company. 

 

The Company acknowledges
that Dawson has been retained only by the Company, that Dawson is providing services hereunder as an independent contractor (and
not in any fiduciary or agency capacity) and that the Company's engagement of Dawson is not deemed to be on behalf of, and is not
intended to confer rights upon, any shareholder, owner or partner of the Company or any other person not a party hereto as against
Dawson or any of its affiliates, or any of its or their respective officers, directors, controlling persons (within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act), employees or agents. Unless otherwise expressly agreed
in writing by Dawson, no one other than the Company is authorized to rely upon any statement or conduct of Dawson in connection
with this Agreement. The Company acknowledges that any recommendation or advice, written or oral, given by Dawson to the Company
in connection with Dawson's engagement is intended solely for the benefit and use of the Company's management and directors in
considering a possible Offering, and any such recommendation or advice is not on behalf of, and shall not confer any rights or
remedies upon, any other person or be used or relied upon for any other purpose. Dawson shall not have the authority to make any
commitment binding on the Company. The Company, in its sole discretion, shall have the right to reject any investor introduced
to it by Dawson.

 

		12.	Amendments and Waivers. 

 

No supplement, modification
or waiver of this Agreement shall be binding unless executed in writing by the party to be bound thereby. The failure of a party
to exercise any right or remedy shall not be deemed or constitute a waiver of such right or remedy in the future. No waiver of
any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (regardless
of whether similar), nor shall any such waiver be deemed or constitute a continuing waiver unless otherwise expressly provided.

 

    	 	12	 

     

    

 

		13.	Confidentiality.

 

In the event of the
consummation or public announcement of any Offering, Dawson shall have the right to disclose its participation in such Offering,
including, without limitation, the placement at its cost of “tombstone” advertisements in financial and other newspapers
and journals. Dawson agrees not to use any confidential information concerning the Company provided to Dawson by the Company for
any purposes other than those contemplated under this Agreement.

 

		14.	Headings. 

 

The headings of the
various sections of this Agreement have been inserted for convenience of reference only and will not be deemed to be part of this
Agreement.

 

		15.	Counterparts. 

 

This Agreement may
be executed in one or more counterparts and, if executed in more than one counterpart, the executed counterparts shall each be
deemed to be an original and all such counterparts shall together constitute one and the same instrument.

 

		16.	Severability. 

 

In case any provision
contained in this Agreement should be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability
of the remaining provisions contained herein will not in any way be affected or impaired thereby.

 

		17.	Use of Information. 

 

The Company will furnish
Dawson such written information as Dawson reasonably requests in connection with the performance of its services hereunder. The
Company understands, acknowledges and agrees that, in performing its services hereunder, Dawson will use and rely entirely upon
such information as well as publicly available information regarding the Company and other potential parties to an Offering and
that Dawson does not assume responsibility for independent verification of the accuracy or completeness of any information, whether
publicly available or otherwise furnished to it, concerning the Company or otherwise relevant to an Offering, including, without
limitation, any financial information, forecasts or projections considered by Dawson in connection with the provision of its services.

 

		18.	Absence of Fiduciary Relationship. 

 

The Company acknowledges
and agrees that: (a) the Placement Agent has been retained solely to act as Placement Agent in connection with the sale of the
Securities and that no fiduciary, advisory or agency relationship between the Company and the Placement Agent has been created
in respect of any of the transactions contemplated by this Agreement, irrespective of whether the Placement Agent has advised or
is advising the Company on other matters; (b) that the Placement Agent owes the Company only those duties and obligations set forth
in this Agreement; (c) the Purchase Price and other terms of the Securities set forth in this Agreement were established by the
Company following discussions and arms-length negotiations with the Placement Agent and the Company is capable of evaluating and
understanding and understands and accepts the terms, risks and conditions of the transactions contemplated by this Agreement; (c)
it has been advised that the Placement Agent and its affiliates are engaged in a broad range of transactions that may involve interests
that differ from those of the Company and that the Placement Agent has no obligation to disclose such interest and transactions
to the Company by virtue of any fiduciary, advisory or agency relationship; and (d) it has been advised that the Placement Agent
is acting, in respect of the transactions contemplated by this Agreement, solely for the benefit of the Placement Agent, and not
on behalf of the Company and that the Placement Agents may have interests that differ from those of the Company. The Company waives
to the full extent permitted by applicable law any claims it may have against the Placement Agent arising from an alleged breach
of fiduciary duty in connection with the Offering.

 

    	 	13	 

     

    

 

		19.	Survival Of Indemnities, Representations, Warranties, Etc. 

 

The respective indemnities,
covenants, agreements, representations, warranties and other statements of the Company and Placement Agent, as set forth in this
Agreement or made by them respectively, pursuant to this Agreement, shall remain in full force and effect, regardless of any investigation
made by or on behalf of the Placement Agent, the Company, the Purchasers or any person controlling any of them and shall survive
delivery of and payment for the Securities. Notwithstanding any termination of this Agreement, including without limitation any
termination pursuant to Section 5, the payment, reimbursement, indemnity, contribution and advancement agreements contained in
Sections 2, 9, 10, and 11, respectively, and the Company’s covenants, representations, and warranties set forth in this Agreement
shall not terminate and shall remain in full force and effect at all times. The indemnity and contribution provisions contained
in Section 9 and the covenants, warranties and representations of the Company contained in this Agreement shall remain operative
and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of
any Placement Agent, any person who controls any Placement Agent within the meaning of either Section 15 of the Securities Act
or Section 20 of the Exchange Act or any affiliate of any Placement Agent, or by or on behalf of the Company, its directors or
officers or any person who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of
the Exchange Act, and (iii) the issuance and delivery of the Securities.

 

		20.	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.

 

		21.	Notices. 

 

All communications
hereunder shall be in writing and shall be mailed or hand delivered and confirmed to the parties hereto as follows: 

 

If to the Company:

 

Pareteum Corp.

Mr. Hal Turner

Principal Executive
Officer

1185 Avenue of the
Americas

New York, New York
10036

 

If to the Placement
Agent:

 

Dawson James Securities,
Inc.

1 North Federal Highway
– 5th Floor

Boca Raton, FL 33432

Attention: Chief Executive
Officer

 

Any party hereto may
change the address for receipt of communications by giving written notice to the others. 

 

    	 	14	 

     

    

 

		22.	Miscellaneous. 

 

This Agreement shall
not be modified or amended except in writing signed by Dawson and the Company. This Agreement constitutes the entire agreement
of Dawson and the Company, and supersedes any prior agreements, with respect to the subject matter hereof. If any provision of
this Agreement is determined to be invalid or unenforceable in any respect, such determination will not affect such provision in
any other respect, and the remainder of this Agreement shall remain in full force and effect. This Agreement may be executed in
counterparts (including facsimile or .pdf counterparts), each of which shall be deemed an original but all of which together shall
constitute one and the same instrument.

 

		23.	Successors. 

 

This Agreement will
inure to the benefit of and be binding upon the parties hereto, and to the benefit of the employees, officers and directors and
controlling persons referred to in Section 9 hereof, and to their respective successors, and personal representative, and, except
as set forth in Section 9 of this Agreement, no other person will have any right or obligation hereunder. 

 

		24.	Partial Unenforceability. 

 

The invalidity or unenforceability
of any section, paragraph or provision of this Agreement shall not affect the validity or enforceability of any other section,
paragraph or provision hereof. If any Section, paragraph or provision of this Agreement is for any reason determined to be invalid
or unenforceable, there shall be deemed to be made such minor changes (and only such minor changes) as are necessary to make it
valid and enforceable.

 

[SIGNATURE PAGE TO FOLLOW]

 

    	 	15	 

     

    

 

In acknowledgment that
the foregoing correctly sets forth the understanding reached by Dawson and the Company, and intending to be legally bound, please
sign in the space provided below, whereupon this letter shall constitute a binding Agreement as of the date executed.

 

Very truly yours,

 

	PARETEUM CORP.	 
	 	 	 
	By:  	 	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

   

Agreed and accepted
as of the date first above written.

 

	DAWSON JAMES SECURITIES, INC.	 
	 	 	 
	By:  	 	 
	 	 	 
	 	Name: Robert D. Keyser, Jr.	 
	 	Title:  Chief Executive Officer	 

 

    	 	16	 

     

    

 

SCHEDULE I

 

 

 

Issuer General Use
Free Writing Prospectuses

 

 

 

None.

 

    	 	17Exhibit

Exhibit 10.1

EMPLOYMENT AGREEMENT
This 2018 Amended and Restated Employment Agreement (the “Agreement”) is made and entered into effective as of April 30, 2018 (the “Effective Date”), by and between Gulfport Energy Corporation, a Delaware corporation (the “Company”), and Michael G. Moore, an individual (“Executive”).

RECITALS
WHEREAS, the Company is engaged in the exploration and development of crude oil and natural gas fields and related activities.
WHEREAS, Executive is experienced in the management and conduct of the Company’s business and, since April 22, 2014, has been the Chief Executive Officer and President of the Company.
WHEREAS, the Company and Executive entered into an Amended and Restated Employment Agreement dated April 29, 2015 (the “Prior Agreement”).
WHEREAS, the Company and Executive, intend to further amend and restate the Prior Agreement upon the terms and subject to the conditions set forth in this Agreement.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing recitals and the terms, covenants and conditions contained herein, the Company and Executive agree as follows:
1.EMPLOYMENT AND DUTIES.
1.1    General.  The Company hereby employs Executive, and Executive agrees to serve, as Chief Executive Officer and President of the Company, upon the terms and subject to the conditions set forth herein.  Executive will report directly to the Board of Directors of the Company.  Subject to the direction and control of the Board of Directors, Executive will have all the responsibilities and powers normally associated with such positions and Executive will perform such other duties and responsibilities as may be designated from time to time by the Board.  
1.2    Exclusive Services.  Executive will devote his full business time, energy and efforts faithfully and diligently to promote the Company’s interests.  Executive will render his services exclusively to the Company during the Employment Term.  The terms of this Section 1 will not prevent Executive from investing or otherwise managing his assets in such form or manner as he chooses and spending such time, whether or not during business hours, as he deems necessary to manage his investments, so long as he is able to fulfill his duties pursuant to Section 1.1 above.
2.    TERM.
Subject to the provisions for termination provided in Section 5, the term of Executive’s employment under this Agreement will continue as of the Effective Date and will terminate on the 

third anniversary of the Effective Date (the “Initial Period”); provided, however, that unless either party gives written notice to the other party of an election not to extend or renew Executive’s employment hereunder at least ninety (90) days prior to the end of the Initial Period, or any anniversary thereof, the term of this Agreement will automatically be extended by successive one-year periods (each an “Extension”).  The term of this Agreement, including the Initial Period and any Extension, is hereinafter referred to as the “Employment Term.”  Each 12 months period beginning on the Effective Date or any anniversary thereof and ending on the day prior to the anniversary thereof is hereinafter referred to as a “Contract Year.”
3.    COMPENSATION.
3.1    Base Salary.  As compensation for services rendered under this Agreement, the Company will pay to Executive a base salary (the “Base Salary”) at an annualized rate of $750,000, effective as of January 1, 2018, payable in accordance with the normal payroll procedures of the Company.  From time to time at the sole discretion of the Compensation Committee (the “Compensation Committee”) of the Board of Directors of the Company (the “Board of Directors”), Executive’s Base Salary will be reviewed by the Compensation Committee and/or the Board of Directors and may be increased, but not decreased, by the Compensation Committee or the Board of Directors in their sole discretion.  The term “Base Salary” as used herein will mean and refer to the then current base salary, as adjusted from time to time in accordance with this Section 3.1.  The Company will deduct from the Base Salary amounts sufficient to cover applicable federal, state and/or local income tax withholdings and any other amounts which the Company is required to withhold by applicable law.
3.2    Bonus Compensation.
3.2.1    Annual Cash Bonus.  During the Term, Executive will be eligible to receive an annual bonus in accordance with the Gulfport Energy Corporation 2014 Executive Annual Incentive Compensation Plan as established by the Compensation Committee or the Board from time to time (the “Annual Bonus”).  A target amount of Annual Bonus as a percentage of Base Salary (the “Target Bonus”) will be determined each Contract Year by the Compensation Committee or the Board based upon achievement of performance goals as determined by the Compensation Committee or the Board for each fiscal year of the Company.  For the Contract Year ending in 2018, Executive will be eligible to receive a Target Bonus of 120% of Base Salary subject to achievement of such performance goals up to a maximum of 240% of Base Salary.  The Compensation Committee or the Board may establish threshold performance goals and Annual Bonus amounts that are less than the Target Bonus amount, but no amount of Annual Bonus will be paid for performance results below the threshold performance goals.  Performance goals may include a level of performance below which no payment will be made and levels of performance at which specified percentages of the Target Bonus award will be paid as well as a maximum level of performance above which no additional Annual Bonus will be paid.  The Annual Bonus will be paid within fifteen (15) business days after the later of: (i) the written certification by the Compensation Committee of the achievement of the performance goals; and (ii) completion and release of the audited financial statements for the applicable fiscal year; provided, however, subject to, and except as provided in Section 6 of this Agreement, Executive must still be employed by the Company on the payment 

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date to receive the Annual Bonus.  The Company may satisfy the Annual Bonus under this Agreement, by means of an award under the Gulfport Energy Corporation 2014 Executive Annual Incentive Compensation Plan or any annual bonus or cash incentive compensation plan it maintains or may in the future adopt for its executives and any such award may be subject to additional terms and conditions under the terms of such plan.  The Company will have the right to condition the payment of any Annual Bonus amounts on Executive’s execution of a document reasonably acceptable to the Company pursuant to which Executive confirms, ratifies and agrees that this Agreement and all of its provisions are valid and binding and are enforceable against Executive in accordance with their terms.  
3.2.2    Signing Bonus.  As an inducement to enter into this Agreement and relieve the Company from certain obligations under the Prior Agreement, the Company will pay Executive a lump sum cash signing bonus of $500,000 (the “Signing Bonus”) within 10 business days following the later of the Effective Date or the date Executive signs this Agreement in consideration 

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of Executive’s agreement to the revised terms herein and the relinquishment of certain rights under the Prior Agreement.
3.3    Equity Awards.  
3.3.1    In addition to the Base Salary, Executive will be eligible, for each fiscal year of the Company ending during the Employment Term, to participate in the Gulfport Energy Corporation 2013 Restated Stock Incentive Plan or such other equity incentive plan or plans then in existence for the benefit of employees, and, subject to Section 3.3.2 below, may in the discretion of the Compensation Committee receive an equity award (an “Equity Award”), in accordance with the terms of such plan or plans.  The amount and timing of such Equity Awards, any target performance goals and the vesting terms of such awards will be determined by the Compensation Committee in its sole discretion.  Except as expressly set forth herein, any Equity Awards are pursuant to and will incorporate all terms and conditions of the Company’s 2013 Restated Stock Incentive Plan or such other equity incentive plan or plans then in existence for the benefit of employees, as applicable, and the Company’s standard form of award agreement.  If Executive’s employment with the Company terminates prior to any scheduled vesting date then, except as expressly provided herein, Executive will forfeit all rights and interests in and to such unvested Equity Awards.
3.3.2    For the Contract Year ending in 2018, Executive will be entitled to receive a grant of restricted stock units (or other form of Equity Award with an equivalent value) with a grant date value of 500% of Base Salary not later than April 30th of such year that will vest in three substantially equal annual installments commencing on or before May 15th in the year granted.
3.4    Other Benefits.
3.4.1    Vacation.  Executive will be entitled to take up to five weeks paid vacation for each calendar year during Executive’s employment; provided, however, that vacation will only be taken at such times as not to interfere with the necessary performance of Executive’s duties and obligations under this Agreement.
3.4.2    Automobile.  During the Employment Term, Executive will be entitled to use of a Company provided automobile, including Company payment of all insurance and maintenance costs.  Such automobile will be of a type consistent with the class of vehicle previously provided to Executive by the Company and will be replaced on a basis consistent with the Company’s previous replacement schedule.
3.4.3    Other Benefits; Insurance.  During the term of Executive’s employment under this Agreement, if and to the extent eligible, Executive will be entitled to participate in all Company Group Health Plans, group life, disability and accidental death and dismemberment insurance or plan, then in effect, including, without limitation, any supplemental disability coverage available to similarly situated executive employees (“Company Welfare Benefit Plans”).  For purposes of this Agreement, “Company Group Health Plans” means all operative medical, dental and vision plans.  Coverage under the Company Welfare Benefit Plans will be provided on the same basis generally applicable to similarly situated employees of the Company; provided, however, that nothing contained in this Agreement will, in any manner whatsoever, directly or indirectly, require 

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or otherwise prohibit the Company from amending, modifying, curtailing, discontinuing, or otherwise terminating any Company Welfare Benefit Plan at any time (whether before or after the date of Executive’s termination).  Executive will be eligible to receive life insurance coverage providing a death benefit of not less than $500,000.
3.4.4    Retirement Plans.  During the term of Executive’s employment under this Agreement, if and to the extent eligible, Executive will be entitled to participate in all Company Retirement Plans then in effect.  For purposes of this Agreement, “Company Retirement Plans” means the Company’s 401(k) Profit Sharing Plan and all operative employee pension benefit plans (tax-qualified and nonqualified plans) that may in the future be sponsored or maintained by the Company, all on the same basis generally applicable to similarly situated employees of the Company; provided, however, that nothing contained in this Agreement will, in any manner whatsoever, directly or indirectly, require or otherwise prohibit the Company from amending, modifying, curtailing, discontinuing, or otherwise terminating any Company Retirement Plan at any time (whether before or after the date of Executive’s termination).
3.4.5    Reimbursement.  Executive will be entitled to reimbursement from the Company for the reasonable costs and expenses incurred in connection with the performance of the duties and obligations provided for in this Agreement.  Reimbursement will be paid upon prompt presentation of expense statements or vouchers and such other supporting information as the Company may from time to time require.
4.    TRADE SECRETS, CONFIDENTIAL INFORMATION AND INVENTIONS.  
4.1    Trade Secrets.  During the course of Executive’s employment, Executive will have access to various trade secrets, confidential information and inventions of Company as defined below.
4.1.1    “Confidential Information” means all information and material which is proprietary to the Company, whether or not marked as “confidential” or “proprietary” and which is disclosed to or obtained from the Company by the Executive, which relates to the Company’s past, present or future research, development or business activities. Confidential Information is all information or materials prepared by or for the Company and includes, without limitation, all of the following:  designs, drawings, specifications, techniques, models, data, source code, object code, documentation, diagrams, flow charts, research, development, processes, systems, methods, machinery, procedures, “know-how”, new product or new technology information, formulas, patents, patent applications, product prototypes, product copies, cost of production, manufacturing, developing or marketing techniques and materials, cost of production, development or marketing time tables, customer lists, strategies related to customers, suppliers or personnel, contract forms, pricing policies and financial information, volumes of sales, and other information of similar nature, whether or not reduced to writing or other tangible form, and any other Trade Secrets, as defined by Section 4.1.3, or non-public business information.  Notwithstanding the foregoing, nothing in this Agreement, any other agreement between Executive and the Company, or any Company policy shall be read to prevent Executive from (a) sharing this Agreement or other information with Executive’s attorney; (b) reporting possible violations of federal law or regulation to any governmental agency or entity including but not limited to the Department of Justice, the Securities 

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and Exchange Commission, the Congress, and any Inspector General, or making other disclosures that are protected under the whistleblower provisions of federal law or regulation.  Executive will not need the prior authorization of the Company to make any such reports or disclosures and Executive will not be required to notify the Company that he has made such reports or disclosures; (c) sharing information about this Agreement with Executive’s spouse, accountant, attorney or financial advisor so long as Executive ensures that such parties maintain the strict confidentiality of this Agreement; or (d) apprising any future or potential employer or other person or entity to which Executive provides services of Executive’s continuing obligations to the Company under this Agreement.
4.1.2    “Inventions” means all discoveries, concepts and ideas, whether patentable or not, including but not limited to, processes, methods, formulas, compositions, techniques, articles and machines, as well as improvements thereof or “know-how” related thereto, relating at the time of conception or reduction to practice to the business engaged in by the Company, or any actual or anticipated research or development by the Company.
4.1.3    “Trade Secrets” means any scientific or technical data, information, design, process, procedure, formula or improvement that is commercially available to the Company and is not generally known in the industry.
This Section includes not only information belonging to Company which existed before the date of this Agreement, but also information developed by Executive for Company or its employees during his employment and thereafter.
4.2    Restriction on Use of Confidential Information.  Executive agrees that his use of Trade Secrets and other Confidential Information is subject to the following restrictions during the term of the Agreement and for an indefinite period thereafter so long as the Trade Secrets and other Confidential Information have not become generally known to the public.
4.2.1    Non-Disclosure.  Except as required by the performance of the Executive’s services to the Company under the terms of this Agreement, Executive will not, directly or indirectly disclose, or permit others to disclose the Company’s Trade Secrets, Confidential Information and/or Inventions as defined above.  The foregoing will not apply to information that (i) was known to the public prior to its disclosure to Executive; (ii) becomes generally known to the public subsequent to disclosure to Executive through no wrongful act of Executive or any representative of Executive; or (iii) Executive is required to disclose by applicable law, regulation or legal process (provided that Executive provides the Company with prior notice of the contemplated disclosure and cooperates with the Company at its expense in seeking a protective order or other appropriate protection of such information).  Executive is hereby notified in accordance with the Defend Trade Secrets Act of 2016 that Executive will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a Trade Secret that: (a) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding.  Executive is further notified that if he files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Executive may disclose the Company’s Trade Secrets to Executive’s attorney and 

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use the Trade Secret information in the court proceeding if he: (a) files any document containing the Trade Secret under seal; and (b) does not disclose the Trade Secret, except pursuant to court order.  The provisions of this Section 4.2 will survive the expiration, suspension or termination of this Agreement for any reason.
4.2.2    Return of Company Information.  Upon termination of Executive’s employment with Company for any reason, Executive will surrender and return to Company all documents and materials in his possession or control which contain Trade Secrets, Inventions and other Confidential Information.  Executive will immediately return to the Company all lists, books, records, materials and documents, together with all copies thereof, and all other Company property in his possession or under his control, relating to or used in connection with the business of the Company. Executive acknowledges and agrees that all such lists, books, records, materials and documents, are the sole and exclusive property of the Company.
4.2.3    Prohibition Against Unfair Competition.  At any time after the termination of his employment with Company for any reason, Executive will not engage in competition with Company while making use of the Trade Secrets of Company.
4.3    Patents and Inventions.  Executive agrees that any Inventions made, conceived or completed by Executive during the term of Executive’s service, solely or jointly with others, which are made with the Company’s equipment, supplies, facilities or Confidential Information, or which relate at the time of conception or reduction to purpose of the Invention to the business of the Company or the Company’s actual or demonstrably anticipated research and development, or which result from any work performed by Executive for the Company, will be the sole and exclusive property of the Company, and all Trade Secrets, Confidential Information, copyrightable works, works of authorship, and all patents, registrations or applications related thereto, all other intellectual property or proprietary information and all similar or related information (whether or not patentable and copyrightable and whether or not reduced to tangible form or practice) which relate to the business, research and development, or existing or future products or services of the Company and/or its subsidiaries and which are conceived, developed or made by Executive during Executive’s employment with the Company (“Work Product”) will be deemed to be “work made for hire” (as defined in the Copyright Act, 17 U.S.C. §101 et seq., as amended) and owned exclusively by the Company.  To the extent that any Work Product is not deemed to be a “work made for hire” under applicable law, and all right, title and interest in and to such Work Product have not automatically vested in the Company, Executive hereby (a) irrevocably assigns, transfers and conveys, and will assign transfer and convey, to the fullest extent permitted by applicable law, all right, title and interest in and to the Work Product  on a worldwide basis to the Company (or such other person or entity as the Company may designate), without further consideration, and (b) waives all moral rights in or to all Work Product, and to the extent such rights may not be waived, agrees not to assert such rights against the Company or its respective licensees, successors, or assigns.  In order to permit the Company to claim rights to which it may be entitled, Executive agrees to promptly disclose to the Company in confidence all Work Product which the Executive makes arising out of the Executive’s employment with the Company.  Executive will assist the Company in obtaining patents on all Work Product patentable by the Company in the United States and in all foreign countries, and will execute all documents and do all things necessary to obtain letters patent, to vest the 

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Company with full and extensive title thereto, and to protect the same against infringement by others.
5.    TERMINATION OF EMPLOYMENT.
5.1    Termination by Reason of Death or Disability.  Executive’s employment hereunder will terminate immediately upon the death of Executive.  The Company may terminate this Agreement upon written notice to Executive if Executive suffers any physical or mental impairment or incapacity that results in Executive being unable to perform Executive’s essential duties, responsibilities and the functions of Executive’s position with the Company for periods aggregating one-hundred twenty (120) days in any three hundred sixty (360) day period (“Disability”).
5.2    Termination by Company for Cause.  The employment of Executive hereunder will terminate immediately upon written notice delivered by the Company to the Executive of termination for “Cause”.  “Cause” means (i) Executive’s conviction (including any plea of guilty or no contest) of (x) any felony involving the embezzlement, theft or misappropriation of monies or other property, of the Company or otherwise; or (y) any crime of moral turpitude; (ii) gross misconduct in the performance of Executive’s duties; or (iii) the repeated failure by Executive (except by reason of Disability) to render full and proper services as required by the terms of Executive’s employment after failure to cure such failure within 30 days after receiving written notice from the Company or the Board of Directors detailing the alleged failure.
5.3    Termination by the Company without Cause.  The employment of Executive hereunder will terminate immediately upon written notice delivered by the Company to the Executive of termination by the Company upon delivery to Executive of written notice of termination by the Company, which will be deemed to be “without cause” unless termination is expressly stated to be pursuant to Section 5.1 or Section 5.2.
5.4    Termination by the Executive for Good Reason.  The employment of Executive hereunder will terminate 30 days following the date on which Executive gives the Company notice of termination for Good Reason (as hereinafter defined), or such earlier date as may be determined by the Company, the Compensation Committee or the Board of Directors.  For purposes of this Agreement, “Good Reason” means without Executive’s consent (i) a material diminution in the duties, authority or responsibilities of Executive or a material breach of this Agreement by the Company, or (ii) requiring Executive to relocate his principal place of employment to a location that is more than thirty-five (35) miles from the location of the Company’s principal office in the Oklahoma City area as of the Effective Date, provided that the Company fails to cure such material diminution, breach or relocation within 30 days of receipt of a written notice from Executive of such Good Reason event  (which notice must be provided by Executive to the Company within 90 days following the initial occurrence of such event). Executive’s Termination Date as a result of any of the foregoing events must occur within two (2) years of the initial occurrence of any such event.
6.    PAYMENTS UPON TERMINATION.

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6.1    Termination Other Than For Cause.  If Executive’s employment with the Company is terminated (i) by the Company other than for “Cause” (as defined herein), including if the Company provides notice of nonrenewal within 90 days of the end of the Initial Period or any Extension, (ii) by the Executive for Good Reason, or (iii) as a result of Executive’s Death or Disability (as provided in Section 5.1 herein) (collectively, subsections (i), (ii) and (iii), a “Qualifying Termination”), then:
6.1.1    the Company will provide Executive (or Executive’s estate, if applicable) (i) on the Termination Date (as such term is defined in Section 6.3), a lump sum payment equal to all accrued and unpaid salary and other compensation payable to Executive by the Company and all accrued and unpaid vacation and sick pay payable to Executive by the Company with respect to services rendered by Executive to the Company through the Termination Date; and (ii) subject to Section 6.1.6 and Section 10.10.5, a lump sum payment on the sixtieth (60th) day following the Termination Date equal to 200% of the amount equal to the sum of Executive’s then current Base Salary and Target Bonus amount; 
6.1.2    subject to Section 6.1.6, (i) all restricted stock and restricted stock units that have been granted to Executive by the Company and that would have vested following the Termination Date solely as a result of Executive’s continued service to the Company will immediately vest on the Termination Date, (ii) all restricted stock and restricted stock units that have been granted to Executive by the Company and that are subject to performance based vesting will immediately vest on the Termination Date at the target vesting level, and (iii) all stock options and stock appreciation rights that have been granted to Executive by the Company and that would have vested following the Termination Date solely as a result of Executive’s continued service to the Company will immediately vest and become exercisable on the Termination Date and will remain exercisable in accordance with the terms and conditions applicable to such equity award; 
6.1.3    if a Qualifying Termination occurs on or before December 31, 2018, in addition to the vesting provided in Section 6.1.2, the Company will immediately issue to Executive, on a fully vested basis, such number of shares of the Company’s common stock with a value equal to $7,000,000, determined by the closing price per share on the Termination Date reported in the Wall Street Journal; 
6.1.4    [reserved];
6.1.5    subject to Section 6.1.6, the Company will pay the cost for continuation coverage under the Company Group Health Plans (as defined herein, and to the extent permitted by applicable law and the terms of each Company Group Health Plan) under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) for Executive and his eligible family members covered under the Company Group Health Plan immediately prior to Termination Date.  Such premiums will be paid by the Company during the 18 month period immediately following Executive’s Termination Date or until Executive becomes eligible for group health plan benefits from another employer, whichever occurs first, provided that Executive timely elects COBRA coverage (“COBRA Benefits”) and provided that Executive’s continued participation is possible under the general terms and provisions of such Company Group Health Plans.  Executive agrees to promptly inform the Company in writing if Executive becomes eligible to receive group health 

9

coverage from another employer.  The period of such COBRA Benefits will be considered part of Executive’s COBRA coverage entitlement period.  At the conclusion of the maximum 18 month period for which the Company will pay the cost of COBRA Benefits, as provided above, Executive may, at Executive’s sole expense, continue to receive COBRA Benefits for the remainder of the COBRA coverage entitlement period, if any, provided under the terms of the Company Group Health Plans.  In addition to paying the cost of COBRA Benefits, the Company will pay Executive a lump sum payment on the sixtieth (60th) day following the Termination Date equal to $10,800, which is intended to enable Executive to obtain six months additional health insurance coverage in excess of the COBRA Benefits; and
6.1.6    notwithstanding anything herein to the contrary, it will be a condition to Executive’s right to receive the amounts provided for in Section 6.1.1, Section 6.1.2, Section 6.1.3, Section 6.1.4 and Section 6.1.5, that Executive timely execute and deliver to the Company, a general release substantially in the form attached hereto as “Exhibit A” (the “General Release”) within twenty-one (21) days of its delivery to Executive (or such longer period as may be required under the Age Discrimination in Employment Act of 1967, as amended), without subsequent revocation of the General Release.  Upon satisfaction of the General Release condition, the payment of the severance benefits will commence as provided in Section 6.1.1 and Section 10.10.5.
6.2    Termination by the Company For Cause or by the Executive because of a Voluntary Termination.  If Executive’s employment with the Company is terminated (i) by the Company for “Cause” (as defined herein), or (ii) by the Executive voluntarily other than for Good Reason, Executive will be entitled to receive on the Termination Date (as such term is defined in Section 6.3), a lump sum payment equal to all accrued and unpaid salary and other compensation payable to Executive by the Company and all accrued and unpaid vacation and sick pay payable to Executive by the Company with respect to services rendered by Executive to the Company through the Termination Date and, subject to the general release requirement in  Section 6.1.6, the payment of an amount equal to the Base Salary amount in effect immediately preceding such termination prorated based on the number of days between the first day of the Contract Year and the Termination Date, divided by 365.    
6.3    Termination Date.  For purposes of this Section 6, the term, “Termination Date” will mean the date of Executive’s “separation from service” as that term is defined in Section 10.10.4 and §1.409A-1(h) of the Treasury Regulations.
6.4    Timing of Payment.  Notwithstanding anything to the contrary in this Agreement, to the extent required to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), if Executive is deemed by the Board of Directors (or its delegate), in its sole discretion, to be a “specified employee” for purposes of Section 409A(a)(2)(B) of the Code, Executive agrees that any non-qualified deferred compensation payments due to Executive under this Agreement in connection with a termination of Executive’s employment that would otherwise have been payable at any time during the six-month period immediately following such termination of employment will be paid in accordance with Section 10.10.6.
7.    CHANGE IN CONTROL.

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7.1    Notwithstanding the provisions of any other agreement to the contrary, if Executive experiences a Qualifying Termination on or before the second anniversary of the date of occurrence of a Change in Control, then, in addition to the benefits provided in Section 6.1 hereof: 
7.1.1    (i) all restricted stock and restricted stock units that have been granted to Executive by the Company and that would have vested at any time after the date of Executive’s termination solely as a result of Executive’s continued service to the Company will immediately vest on the date of termination; (ii) all restricted stock and restricted stock units that have been granted to Executive by the Company and that are subject to performance based vesting will immediately vest on the Termination Date at the target vesting level, and (ii) all stock options and stock appreciation rights that have been granted to Executive by the Company and that would have vested at any time after the date of Executive’s termination solely as a result of Executive’s continued service to the Company will immediately vest and become exercisable on the date of termination.  
7.1.2    The terms of each Equity Award granted to Executive issued on or after the Effective Date of this Agreement will provide that if Executive experiences a Qualifying Termination on or before the second anniversary of the date of occurrence of a Change in Control such Equity Award will become 100% vested upon such termination (at the target performance level in the case of performance vested Awards) and will conform to the vesting and acceleration provisions of this Agreement.
7.1.3    The lump sum payment in Section 6.1.1(ii) will be calculated based on a 300% multiplier instead of a 200% multiplier.
7.1.4    In addition to the payment by the Company of COBRA Benefits for 18 months following the Termination Date under Section 6.1.5, the lump sum payment on the sixtieth (60th) day following the Termination Date under Section 6.1.5 will be equal to $32,400, which is intended to enable Executive to obtain 18 months additional health insurance coverage in excess of the COBRA Benefits.
7.2    For purposes of this Section 7, a “Change in Control” of the Company will be deemed to have occurred if: (a) there is consummated (i) any consolidation or merger of the Company into or with another person (as such term is used in Sections 13(d)(3) and 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) pursuant to which shares of the Company’s common stock would be converted into cash, securities or other property, other than any consolidation or merger of the Company in which the persons who were stockholders of the Company immediately prior to the consummation of such consolidation or merger are the beneficial owners (within the meaning of Rule 13d-3 under the Exchange Act), immediately following the consummation of such consolidation or merger, of more than 50% of the combined voting power of the then outstanding voting securities of the person surviving or resulting from such consolidation or merger, (ii) any sale, lease or other transfer (in one transaction or a series of related transactions) of all or substantially all of the assets of the Company; (iii) any sale, lease or other transfer (in one transaction or a series of related transactions) of all or substantially all of the assets of the Company (i.e., more than 50% of the gross fair market value of the assets of the Company, determined without regard to any liabilities associated with such assets); or (iv) the stockholders of the Company approve any plan or proposal for the liquidation or dissolution of the company.

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8.    INJUNCTIVE RELIEF.
Executive hereby recognizes, acknowledges and agrees that in the event of any breach by Executive of any of his covenants, agreements, duties or obligations hereunder, the Company would suffer great and irreparable harm, injury and damage, the Company would encounter extreme difficulty in attempting to prove the actual amount of damages suffered by the Company as a result of such breach, and the Company would not be reasonably or adequately compensated in damages in any action at law.  Executive therefore agrees that, in addition to any other remedy the Company may have at law, in equity, by statute or otherwise, in the event of any breach by Executive of any of the covenants, agreements, duties or obligations hereunder, the Company or its subsidiaries will be entitled to seek and receive temporary, preliminary and permanent injunctive and other equitable relief from any court of competent jurisdiction to enforce any of the rights of the Company or its subsidiaries or any of the covenants, agreements, duties or obligations of Executive hereunder, or otherwise to prevent the violation of any of the terms or provisions hereof, all without the necessity of proving the amount of any actual damage to the Company or its subsidiaries thereof resulting therefrom; provided, however, that nothing contained in this Section 8 will be deemed or construed in any manner whatsoever as a waiver by the Company or its subsidiaries of any of the rights which any of them may have against Executive at law, in equity, by statute or otherwise arising out of, in connection with or resulting from the breach by Executive of any of his covenants, agreements, duties or obligations hereunder.
9.    NON-SOLICITATION.  
For so long as Executive is employed by the Company and continuing for twelve (12) months thereafter, Executive will not, without the prior written consent of the Company, directly or indirectly, as a sole proprietor, member of a partnership, stockholder, or investor, officer or director of a corporation, or as an employee, associate, consultant or agent of any person, partnership, corporation or other business organization or entity other than the Company: (i) (x) solicit or endeavor to entice away from the Company, or any of its subsidiaries or affiliates, any person or entity who is employed by, or serves as an agent or key consultant of, the Company, or any of its subsidiaries or affiliates, or (y) solicit any person or entity who during the then most recent twelve (12) month period, was employed by or served as an agent or key consultant of the Company or any of its subsidiaries or affiliates, or (ii) endeavor to entice away from the Company or any of its subsidiaries or affiliates or solicit with respect to services then being rendered or planned, proposed or contemplated to be rendered by the Company or any such subsidiary or affiliate, any persons or entity who is, or was within the then most recent twelve (12) month period, a customer or client (or reasonably anticipated, to the general knowledge of Executive or the public, to become a customer or client) of the Company or any of its subsidiaries or affiliates.  
10.    MISCELLANEOUS.
10.1    Entire Agreement.  This Agreement contains the entire agreement of the parties regarding the employment of Executive by the Company and supersedes any prior agreement, arrangement or understanding, whether oral or written, between the Company and Executive concerning Executive’s employment hereunder.

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10.2    Notices.  All notices, requests and other communications (collectively, “Notices”) given pursuant to this Agreement will be in writing, and may be delivered by facsimile transmission with a copy delivered by personal service or by United States first class, registered or certified mail (return receipt requested), postage prepaid, addressed to the party at the address set forth below:
	
		
	If to the Company:
	Gulfport Energy Corporation
3001 Quail Springs Parkway
Oklahoma City, Oklahoma 73134
Attention:  Board of Directors

	If to Executive:
	Michael G. Moore
3001 Quail Springs Parkway 
Oklahoma City, Oklahoma 73134
or
the Executive’s address in the Company’s personnel records

Any Notice will be deemed duly given when received by the addressee thereof, provided that any Notice sent by registered or certified mail will be deemed to have been duly given three days from date of deposit in the United States mails, unless sooner received.  Either party may from time to time change its address for further Notices hereunder by giving notice to the other party in the manner prescribed in this Section 10.2.
10.3    Governing Law.  This Agreement has been made and entered into in the state of Oklahoma and will be construed in accordance with the laws of the state of Oklahoma without regard to the conflict of laws principles thereof.
10.4    Counterparts.  This Agreement may be executed in any number of counterparts, each of which will be deemed to be an original, but all of which together will constitute one and the same instrument.  
10.5    Interpretation.  The Compensation Committee or Board of Directors of the Company will make all determinations under this Agreement and will have the exclusive authority to interpret its terms and conditions.  All determinations and interpretations made by the Compensation Committee or Board of Directors will be final for all purposes and binding on the parties.  
10.6    Severable Provisions.  The provisions of this Agreement are severable, and if any one or more provisions are determined to be judicially unenforceable, in whole or in part, the remaining provisions will nevertheless be binding and enforceable.
10.7    Successors and Assigns.  This Agreement and all obligations and benefits of Executive and the Company hereunder will bind and inure to the benefit of Executive and the Company, their respective affiliates, and their respective successors and assigns.
10.8    Amendments and Waivers.  No amendment or waiver of any term or provision of this Agreement will be effective unless made in writing.  Any written amendment or waiver will be effective only in the instance given and then only with respect to the specific term or provision (or 

13

portion thereof) of this Agreement to which it expressly relates, and will not be deemed or construed to constitute a waiver of any other term or provision (or portion thereof) waived in any other instance.
10.9    Title and Headings.  The titles and headings contained in this Agreement are included for convenience only and form no part of the agreement between the parties.
10.10    Compliance with Tax Rules for Nonqualified Deferred Compensation Plans.  This Agreement is intended to comply with, or otherwise be exempt from, Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and will be administered, interpreted, and construed in a manner that does not result in the imposition on Executive of any additional tax, penalty, or interest under Section 409A of the Code.
10.10.1    For purposes of Section 409A of the Code, the right to a series of installment payments under this Agreement will be treated as a right to a series of separate payments.
10.10.2    Payment dates provided for in this Agreement will be deemed to incorporate grace periods that are treated as made upon a designated payment date as provided by Treasury Regulation §1.409A-3(d).
10.10.3    If the Company determines in good faith that any provision of this Agreement would cause Executive to incur an additional tax, penalty, or interest under Section 409A of the Code, the Company and Executive will use reasonable efforts to reform such provision, if possible, in a mutually agreeable fashion to maintain to the maximum extent practicable the original intent of the applicable provision without violating the provisions of Section 409A of the Code.  The preceding provisions, however, will not be construed as a guarantee or warranty by the Company of any particular tax effect to Executive under this Agreement.  The Company will not be liable to Executive for any payment made under this Agreement, at the direction or with the consent of Executive, that is determined to result in an additional tax, penalty, or interest under Section 409A of the Code, nor for reporting in good faith any payment made under this Agreement as an amount includible in gross income under Section 409A of the Code.
10.10.4    “Termination of employment,” “Termination Date,” “date of termination” or words of similar import, as used in this Agreement mean, for purposes of any payments under this Agreement that are payments of deferred compensation subject to Section 409A of the Code, Executive’s “separation from service” as defined in Treasury Regulation §1.409A-1(h).
10.10.5    Payments under Section 6 and elsewhere in this Agreement will be administered and interpreted to maximize the exceptions to Code Section 409A for short-term deferrals and for separation pay due to involuntary separation from service.  Any payment under this Agreement that is payable during the short-term deferral period (as described in Treasury Regulations §1.409A-1(b)(4)) or that is paid within the involuntary separation pay safe harbor (as described in Treasury Regulations §1.409A-1(b)(9)(iii)) will be treated as not providing for a deferral of compensation and will not be aggregated with any nonqualified deferred compensation plans or payments.  The Severance Payments under Section 6 will commence on the date provided in Section 6.1.1, subject to the General Release requirement.  It is intended that the Severance Payments will in all events commence 60 days following Executive’s Separation from Service, regardless of which 

14

taxable year Executive actually delivers the executed General Release to the Company.  However, if the Severance Payments are deferred compensation subject to Code Section 409A and if the period during which Executive has discretion to execute or revoke the General Release required in Section 6.1.6 exceeds 60 days from the date of termination, the payments will commence on the eighth day following receipt by the Company of Executive’s executed General Release.  If the period during which Executive has discretion to execute or revoke the General Release required in Section 6.1.6 straddles two taxable years of Executive, then the Company will commence the Severance Payments in the second of such taxable years.  Executive may not, directly or indirectly, designate the calendar year of the commencement of any payment hereunder.  Notwithstanding the foregoing, amounts payable hereunder which are not nonqualified deferred compensation, or which may be accelerated pursuant to Section 409A, such as distributions for applicable tax payments, may be accelerated, but not deferred, at the sole discretion of the Company.  
10.10.6    Notwithstanding anything to the contrary in this Agreement, to the extent required to comply with Section 409A of the Code, if Executive is deemed by the Board (or its delegate), in its sole discretion, to be a “specified employee” for purposes of Section 409A(a)(2)(B) of the Code, Executive agrees that any non-qualified deferred compensation payments due to Executive under this Agreement in connection with a termination of Executive’s employment that would otherwise have been payable at any time during the period immediately following such termination of employment and ending on the date that is six months after the Termination Date (or if earlier, Executive’s date of death) will not be paid prior to, and will instead be payable in a lump sum on the first business day following the end of such non-payment period.
10.11    Survival.  Notwithstanding anything to the contrary contained herein, the provisions of Section 4, Section 8, Section 9, and Section 10 will survive the termination of this Agreement.

[Signatures on following page]

15

IN WITNESS WHEREOF, each of the parties has signed this Agreement as of the date opposite their signature below.
	
		
	

Date:  April 30, 2018
	THE “COMPANY”
GULFPORT ENERGY CORPORATION

By:   /s/ David L. Houston 
Name:   David L. Houston, Chairman of the Board

	

Date:  April 30, 2018
	THE “EXECUTIVE”

/s/ Michael G. Moore 
Michael G. Moore, in his individual capacity

Signature page to Employment Agreement

EXHIBIT A

GENERAL RELEASE OF ALL CLAIMS
This general release (this “Agreement”) is entered into pursuant to the terms and conditions of the 2018 Amended and Restated Employment Agreement effective as of April 30, 2018 (“Employment Agreement”), between Michael G. Moore (“Executive”) and Gulfport Energy Corporation (the “Company”).  
In exchange for and in consideration of the benefits described in the Employment Agreement (the “Severance Benefits”), Executive, on behalf of Executive and all of Executive’s heirs, executors, administrators, and assigns (collectively, “Releasors”), hereby releases and forever waives and discharges any and all claims, liabilities, causes of action, demands, suits, rights, costs, expenses, or damages of any kind or nature (collectively, “Claims”) that Executive or any of the other Releasors ever had, now have, or might have against the Company or any of its current, former, and future affiliates, subsidiaries, parents, and related companies (collectively with the Company, the “Company Group” and each a “Company Group Member”), and each Company Group Member’s respective current, former, and future divisions, shareholders, general partners, limited partners, directors, members, trustees, officers, employees, agents, attorneys, successors, and assigns (collectively, with the Company Group, the “Released Parties” and each a “Released Party”), arising at any time prior to and including the date this Agreement is executed, whether such Claims are known to Executive or unknown to Executive, whether such Claims are accrued or contingent, including but not limited to any and all: 
(a) Claims arising out of, or that might be considered to arise out of or to be connected in any way with, Executive’s employment or other relationship with any of the Released Parties, or the termination of such employment or other relationship; 
(b) Claims under any contract, agreement, or understanding that Executive may have with any of the Released Parties, whether written or oral, whether express or implied, at any time prior to the date Executive executes this Agreement (including, but not limited to, under any offer letter executed by Executive and the Company, the Employment Agreement by and between the Company and Executive and any prior employment agreements and any amendments or agreements relating thereto); 
(c) Claims arising under any federal, state, foreign, or local law, rule, ordinance, or public policy, including without limitation: 
(i) Claims arising under Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1866, 42 U.S.C. § 1981, the Civil Rights Act of 1991, the Age Discrimination in Employment Act, the Older Worker Benefit Protection Act, the Americans with Disabilities Act, the Family and Medical Leave Act, the Employee Retirement Income Security Act of 1974, the Vietnam Era Veterans Readjustment Act of 1974, the Immigration Reform and Control Act of 1986, the Equal Pay Act, the Labor Management Relations Act, the National Labor Relations Act, the Consolidated Omnibus Budget Reconciliation Act of 1985, the Occupational Safety and Health Act, the Genetic Information Nondiscrimination Act of 2008, the Rehabilitation Act of 1973, the Uniformed Services Employment and Reemployment Rights Act, the Worker Adjustment and Retraining Notification Act, the Sarbanes-Oxley Act of 2002, the Dodd-Frank Act, the Internal 

Exhibit 10.1

Revenue Code of 1986, or any other federal, state or local law relating to employment or discrimination in employment, which will include, without limitation, any individual or class claims of discrimination on the basis of age, disability, sex, race, religion, national origin, citizenship status, marital status, sexual preference, or any other basis whatsoever, as all such laws have been amended from time to time, or any other federal, state, foreign, or local labor law, wage and hour law, worker safety law, employee relations or fair employment practices law, or public policy; 
(ii) Claims arising in tort, including but not limited to Claims for misrepresentation, defamation, libel, slander, invasion of privacy, conversion, replevin, false light, tortious interference with contract or economic advantage, negligence, fraud, fraudulent inducement, quantum meruit, promissory estoppel, prima facie tort, restitution, or the like; 
(iii) Claims for compensation, wages, commissions, bonuses, royalties, stock options, deferred compensation, equity, phantom equity, carried interest, other monetary or equitable relief, vacation, personal or sick time, other fringe benefits, attorneys’ or experts’ fees or costs, forum fees or costs, or any tangible or intangible property of Executive’s that remains with any of the Releasees; and 
(d) Claims arising under any other applicable law, regulation, rule, policy, practice, promise, understanding, or legal or equitable theory whatsoever; provided, however, that Executive does not release (A) any claims that arise after the date this Agreement is executed; (B) any claims for breach of the obligation to pay Severance Benefits under the Employment Agreement and this Agreement or to enforce the terms of this Agreement, should that ever be necessary; (C) any claims that cannot be waived or released as a matter of law; or (D) any claims for benefits under any Company employee group benefit plan, including the 401(k) plan.  
Executive specifically intends the release of Claims in this Agreement to be the broadest possible release permitted by law and will also extend to release the Released Parties, without limitation, from any and all Claims that Executive has alleged or could have alleged, whether known or unknown, accrued or unaccrued, against any Released Party for violation(s) of any of the Claims or causes of action described in this Agreement; any other federal, state, or local law or ordinance; any public policy, whistleblower, contract, tort, or common law Claim or action; and any demand for costs or litigation expenses, except as otherwise provided in the Employment Agreement, including but not limited to attorneys’ fees.  
Pursuant to the Older Workers Benefit Protection Act of 1990, Executive understands and acknowledges that by executing this Agreement and releasing all claims against any of the Released Parties, he has waived any and all rights or claims that he has or could have against any Released Party under the Age Discrimination in Employment Act, which includes any claim that any Released Party discriminated against Executive on account of his age. Executive also acknowledges the following: 
(a)    The Company, by this written Agreement, has advised Executive to consult with an attorney prior to executing this Agreement; 

2

Exhibit 10.1

(b)    Executive has had the opportunity to consult with his own attorney concerning this Agreement and Executive acknowledges that this Agreement is worded in an understandable way; 
(c)    The rights and claims waived in this Agreement are in exchange for additional consideration over and above anything to which Executive was already undisputedly entitled; 
(d)    This Agreement does not include claims arising after the Effective Date of this Agreement (as defined below), provided, however, that any claims arising after the Effective Date of this Agreement from the then-present effect of acts or conduct occurring before the Effective Date of this Agreement will be deemed released under this Agreement; and
(e)    The Company has provided Executive the opportunity to review and consider this Agreement for twenty-one (21) days from the date Executive receives this Agreement.  At Executive’s option and sole discretion, Executive may waive the twenty-one (21) day review period and execute this Agreement before the expiration of twenty-one (21) days. In electing to waive the twenty-one (21) day review period, Executive acknowledges and admits that he was given a reasonable period of time within which to consider this Agreement and his waiver is made freely and voluntarily, without duress or any coercion by any other person.
Executive may revoke this Agreement within a period of seven (7) days after execution of this Agreement. Executive agrees that any such revocation is not effective unless it is made in writing and delivered to the Company by the end of the seventh (7th) calendar day. Under any such valid revocation, Executive will not be entitled to any severance pay or any other benefits under this Agreement. This Agreement becomes effective on the eighth (8th) calendar day after it is executed by both parties. 
Subject to the exceptions set forth in Section 4.1.1 and Section 4.2.1 of the Employment Agreement, Executive confirms that no claim, charge, or complaint against any of the Released Parties, brought by him, exists before any federal, state, or local court or administrative agency. Executive hereby waives his right to accept any relief or recovery, including costs and attorney’s fees, from any charge or complaint before any federal, state, or local court or administrative agency against any of the Released Parties, except as such waiver is prohibited by law. For avoidance of doubt, nothing in this Agreement, any other agreement between Executive and the Company, or any Company policy shall prevent Executive from reporting suspected legal violations or filing a charge with the Equal Employment Opportunity Commission (the “EEOC”) or any other government agency or participating in any EEOC or other agency investigation; provided that Employee may not receive any relief (including, but not limited to, reinstatement, back pay, front pay, damages, attorneys’ or experts’ fees, costs, and/or disbursements) as a consequence of any charge filed with the EEOC and/or any litigation arising out of an EEOC charge.
The existence, terms, and conditions of this Agreement are and will be deemed to be confidential and will not hereafter be disclosed by Executive to any other person or entity, except (i) as may be required by law, regulation or applicable securities exchange requirements; and (ii) to Executive’s attorneys, spouse, accountants and/or financial advisors, provided that the person to whom disclosure is made is made aware of the confidentiality provisions of this Agreement and 

3

Exhibit 10.1

such person/s agrees to keep the terms of this Agreement confidential. Executive further agrees not to solicit or initiate any demand by others not party to this Agreement for any disclosure of the existence, terms, and conditions of this Agreement. 
Executive agrees that he will not, unless otherwise prohibited by law, at any time hereafter, participate in as a party, or permit to be filed by any other person on his behalf or as a member of any alleged class of person, any action or proceeding of any kind, against the Company, or its past, present, or future parents, subsidiaries, divisions, affiliates, employee benefit and/or pension plans or funds, successors and assigns and any of their past, present or future directors, officers, agents, trustees, administrators, attorneys, employees or assigns (whether acting as agents for the Company or in their individual capacities), with respect to any act, omission, transaction or occurrence up to and including the date of the execution of this Agreement.  Executive further agrees that he will not seek or accept any award or settlement from any source or proceeding with respect to any claim or right covered by this paragraph and that this Agreement will act as a bar to recovery in any such proceedings. 
Executive agrees that neither this Agreement nor the furnishing of the consideration set forth in this Agreement will be deemed or construed at any time for any purpose as an admission by the Released Parties of any liability or unlawful conduct of any kind. Executive further acknowledges and agrees that the consideration provided for herein is adequate consideration for Executive’s obligations under this Agreement.
This Agreement will be governed by and construed in accordance with the laws of the State of Oklahoma without regard to its conflicts of law provisions. If any provision of this Agreement other than the general release set forth above is declared legally or factually invalid or unenforceable by any court of competent jurisdiction and if such provision cannot be modified to be enforceable to any extent or in any application, then such provision immediately will become null and void, leaving the remainder of this Agreement in full force and affect. If any portion of the general release set forth in this Agreement is declared to be unenforceable by a court of competent jurisdiction in any action in which Executive participates or joins, Executive agrees that all consideration paid to him under the Employment Agreement will be offset against any monies that he may receive in connection with any such action. 
This Agreement, together with the Employment Agreement, sets forth the entire agreement between Executive and the Released Parties and it supersedes any and all prior agreements or understandings, whether written or oral, between the parties, except as otherwise specified in this Agreement or the Employment Agreement.  Executive acknowledges that he has not relied on any representations, promises, or agreements of any kind made to him in connection with his decision to sign this Agreement, except for those set forth in this Agreement. 
This Agreement may not be amended except by a written agreement signed by both parties, which specifically refers to this Agreement. 
EXECUTIVE ACKNOWLEDGES THAT HE CAREFULLY HAS READ THIS AGREEMENT; THAT HE HAS HAD THE OPPORTUNITY TO THOROUGHLY DISCUSS ITS TERMS WITH COUNSEL OF HIS CHOOSING; THAT HE FULLY UNDERSTANDS ITS 

4

Exhibit 10.1

TERMS AND ITS FINAL AND BINDING EFFECT; THAT THE ONLY PROMISES MADE TO SIGN THIS AGREEMENT ARE THOSE STATED AND CONTAINED IN THIS AGREEMENT; AND THAT HE IS SIGNING THIS AGREEMENT KNOWINGLY AND VOLUNTARILY.  EXECUTIVE STATES THAT HE IS IN GOOD HEALTH AND IS FULLY COMPETENT TO MANAGE HIS BUSINESS AFFAIRS AND UNDERSTANDS THAT HE MAY BE WAIVING SIGNIFICANT LEGAL RIGHTS BY SIGNING THIS AGREEMENT. 
IN WITNESS WHEREOF, Executive has executed this Agreement as of the date set forth below. 

AGREED AND ACCEPTED

_______________________________
______________, in his individual capacity

Date: _____________________

5

Exhibit 10.1

RECEIPT OF AGREEMENT
I acknowledge that I received today a copy of Gulfport Energy Corporation’s General Release of all Claims (the “Agreement”).  I have been advised of the following:
1)    That I have twenty-one (21) days to consider the Agreement.
2)    I have the opportunity to discuss with Gulfport Energy Corporation any questions or concerns I may have regarding the terms or language of the Agreement.
3)    I have been advised to see an attorney of my choosing to review the Agreement.
4)    I should not sign the Agreement unless I fully understand its terms and, if I sign the Agreement, I do so of my own free will.
5)    I have seven (7) days after signing the Agreement to revoke the Agreement, and the Agreement will not become effective, enforceable or binding until this revocation period has expired.  Any revocation must be in writing and either postmarked and mailed to or hand-delivered to the Company within seven (7) days after I sign the Agreement.  
6)    The Agreement does not waive any rights or claims that may arise after its execution.
7)    In consideration for signing the Agreement, I will be receiving Severance Benefits or benefits in addition to any monies I am already entitled to.
8)    No other promises have been made to me beyond the terms of the Employment Agreement and the Agreement.

Dated:    _____________            ________________________________
_____________
WITNESS:

Dated:_____________    ________________________________        Signature

________________________________    
Witness’ printed name and title 

6

Exhibit 10.1

WAIVER OF 21-DAY REVIEW PERIOD – OPTIONAL
I acknowledge that I was provided with a copy of Gulfport Energy Corporation’s General Release of all Claims (the “Agreement”) on ___________, I have had an opportunity to review the Agreement, have been afforded the opportunity to have it reviewed by an attorney of my choosing, and have made the voluntary decision to execute the Agreement prior to the expiration of the twenty-one (21) day review period.  Therefore, I have executed the Agreement today, and I understand that I have seven (7) days from today to revoke the Agreement in writing.  I further understand that the Agreement will not become effective, enforceable, or binding until this revocation period has expired.

Dated:    _____________            ________________________________
_____________
WITNESS:

Dated: _____________    ________________________________        Signature

________________________________    
Witness’ printed name and title 

7

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