Document:

Exhibit 10.3

 

COMMON STOCK PURCHASE AGREEMENT

 

This
Common Stock Purchase Agreement (this “Agreement”), is entered into on October 18, 2013, between Global Eagle
Entertainment Inc., a Delaware corporation (the “Company”), and Putnam Equity Spectrum Fund, a series of Putnam
Funds Trust, a Massachusetts business trust (the “Purchaser”).

 

WHEREAS, the
Company is considering the acquisition of one or more businesses (each, a “Target”).

 

WHEREAS, in order to secure financing
for the acquisition of a Target (the “Transaction”), the parties hereto desire to enter into this Agreement
to set forth certain agreements with respect to the sale and purchase of shares of the Company’s common stock, par value
$0.0001 per share (“GE Common Stock”), upon and subject to the closing of the Transaction (the “Closing”).

 

WHEREAS, the
Company has filed a shelf registration statement on Form S-3 which was declared effective by the Securities and Exchange Commission
(the “SEC”) on August 22, 2013 (as amended, the “Shelf Registration Statement”).

 

WHEREAS, the Company intends to offer
the GE Common Stock pursuant to this Agreement by means of a prospectus supplement to the prospectus
included in the Shelf Registration Statement (the “Prospectus Supplement”) which Prospectus Supplement shall
be filed with the SEC pursuant to Rule 424 of the Securities Act of 1933, as amended (the “Securities Act).

 

NOW, THEREFORE, in consideration
of the premises and the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt,
sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

 

1. Common Stock Purchase.

 

The Purchaser hereby agrees that concurrent
with, and subject to, the Closing, it shall purchase from the Company, and the Company hereby agrees that concurrent with, and
subject to, the Closing, it shall issue and sell to the Purchaser, 2,453,472 shares of GE Common Stock (the “Shares”)
at a per share purchase price equal to $8.5593 for an aggregate purchase price of $21,000,002 (the “Purchase Price”),
payable by the Purchaser by wire transfer of immediately available funds.

 

2. Fractional Shares.

 

If any fractional share would
be obligated to be issued to the Purchaser pursuant to Section 1, the number of shares issued to the Purchaser shall be
rounded up to the nearest whole share.

 

    	 

    	 

    

 

3. Procedures.

 

(a) Timing of Actions. All actions
taken at the Closing shall be deemed to have been taken simultaneously.

 

(b) Purchase Price. At the Closing,
the Purchaser shall deliver to the Company the Purchase Price for the Shares against delivery of the Shares by the Company.

 

(c) Further Assurances. The parties
hereto shall execute and deliver such additional documents and take such additional actions as either party reasonably may deem
to be practical and necessary in order to consummate the purchase and sale of the GE Common Stock as contemplated by this Agreement. 

 

4. Closing Conditions.

 

The obligation of the Purchaser to purchase
shares of GE Common Stock under this Agreement shall be subject to the fulfillment, at or prior to the Closing, of each of the
following conditions, any of which, to the extent permitted by applicable laws, may be waived by the Purchaser:

 

(a) The Closing shall have occurred, or happen
concurrently with, the purchase of the Shares.

 

(b) The Company shall have offered and delivered
the Shares to the Purchaser pursuant to the Prospectus Supplement.

 

(c) The Shares shall have been duly authorized,
validly issued and, when paid for in accordance with this Agreement, will be fully paid and non-assessable, and the issuance of
such Shares shall not be subject to any preemptive or similar rights.

 

(d) The Company and affiliates of the Purchaser
shall have entered into a voting rights waiver agreement in the form attached hereto as Exhibit A.

 

5. Termination.

 

This Agreement may be terminated
at any time prior to the Closing by mutual written consent of the Company and the Purchaser.

 

6. General Provisions.

 

(a) Entire
Agreement.  This Agreement, together with any documents, instruments and writings that are delivered pursuant hereto or
referenced herein, constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter and
supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent
they relate in any way to the subject matter hereof or the transactions contemplated hereby.

 

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(b) Successors. 
This Agreement shall be binding upon, and inure to the benefit of and are enforceable by, the parties hereto and their respective
successors.

 

(c) Assignments.
Except as otherwise provided herein, no party hereto may assign either this Agreement or any of its rights, interests, or obligations
hereunder without the prior written approval of the other party.

 

(d) Counterparts.
This Agreement may be executed in two or more counterparts, each of which will be deemed an original but all of which together
will constitute one and the same instrument.

 

(e) Headings.
The section headings contained in this Agreement are inserted for convenience only and will not affect in any way the meaning or
interpretation of this Agreement.

 

(f) Governing
Law. This Agreement, the entire relationship of the parties hereto, and any litigation between the parties (whether grounded
in contract, tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the
laws of the State of Delaware, without giving effect to its choice of laws principles.

 

 (g) Waiver
of Jury Trial.  The parties hereto hereby waive any right to a jury trial in connection with any litigation pursuant to
this Agreement and the transactions contemplated hereby.

 

(h) Amendments.
This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by
all parties hereto.

 

(i) Severability.
The provisions of this Agreement will be deemed severable and the invalidity or unenforceability of any provision will not affect
the validity or enforceability of the other provisions hereof; provided that if any provision of this Agreement, as applied to
any party hereto or to any circumstance, is adjudged by a governmental authority, arbitrator, or mediator not to be enforceable
in accordance with its terms, the parties hereto agree that the governmental authority, arbitrator, or mediator making such determination
will have the power to modify the provision in a manner consistent with its objectives such that it is enforceable, and/or to delete
specific words or phrases, and in its reduced form, such provision will then be enforceable and will be enforced.

 

(j) Expenses.
Each party hereto will bear its own costs and expenses incurred in connection with the preparation, execution and performance of
this Agreement and the consummation of the transactions contemplated hereby, including all fees and expenses of agents, representatives,
financial advisors, legal counsel and accountants.

 

(k) Construction.
The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of
intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption
or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of any provision of this Agreement.
Any reference to any federal, state, local, or foreign Law will be deemed also to refer to Law as amended and all rules and regulations
promulgated thereunder, unless the context requires otherwise. The words “include,” “includes,”
and “including” will be deemed to be followed by “without limitation.” Pronouns in masculine,
feminine, and neuter genders will be construed to include any other gender, and words in the singular form will be construed to
include the plural and vice versa, unless the context otherwise requires. The words “this Agreement,” “herein,”
“hereof,” “hereby,” “hereunder,” and words of similar import refer to
this Agreement as a whole and not to any particular subdivision unless expressly so limited. The parties hereto intend that each
covenant contained herein will have independent significance. If any party hereto has breached any covenant contained herein in
any respect, the fact that there exists another covenant relating to the same subject matter (regardless of the relative levels
of specificity) which such party hereto has not breached will not detract from or mitigate the fact that such party hereto is in
breach of the first covenant.

 

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(l) Waiver.
No waiver by any party hereto of any default or breach of covenant hereunder, whether intentional or not, may be deemed to extend
to any prior or subsequent default or breach of covenant hereunder or affect in any way any rights arising because of any prior
or subsequent occurrence.

 

(m) Confidentiality.
Except as may be required by law, regulation or applicable stock exchange listing requirements
or, unless and until the Transaction is publicly announced, the parties hereto shall keep confidential and shall not publicly disclose
the existence or terms of this Agreement.

 

 

 

[Signature page follows]

 

    	- 4 -

    	 

    

 

IN WITNESS WHEREOF, the undersigned
have executed this Agreement to be effective as of the date first set forth above.

 

 

	 	COMPANY:
	 	 	 
	 	GLOBAL EAGLE ENTERTAINMENT INC.
	 	     	 
	 	 	 
	 	By:	/s/ Michael Pigott
	 	 	Name: Michael Pigott
	 	 	Title: Vice-President, Legal Affairs
	 	 	 
	 	 	 
	 	PURCHASER:
	 	  	 
	 	PUTNAM EQUITY SPECTRUM FUND
	 	 	 
	 	By: Putnam Investment Management, LLC
	 	     	 
	 	 	 
	 	By:  	/s/ David Glancy
	 	 	Name: David Glancy
	 	 	Title:   Portfolio Manager

 

A copy of the Agreement and Declaration of Trust of Putnam
Funds Trust (the "Trust") is on file with the Secretary of The Commonwealth of Massachusetts, and notice is hereby given
that this instrument is executed on behalf of the Trustees of the Trust as Trustees and not individually and that the obligations
of or arising out of this instrument are not binding on any of the Trustees, officers or shareholders individually of the Trust,
but are binding only upon the trust property of the Trust. Furthermore, notice is given that the trust property of the Purchaser
and each other series of Putnam Funds Trust is separate and distinct and that the obligations of or arising out of this Agreement
are several and not joint or joint and several and are binding only on the trust property of the Purchaser with respect to its
obligations under this Agreement.

 

    	 

    	 

    

 

Exhibit A

 

Voting Rights Waiver

 

See Attached

 

    	 

    	 

    

 

Putnam letterhead

 

 

 

October 21, 2013

 

Global Eagle Entertainment Inc.

4353 Park Terrace Drive

Westlake Village, California 91361

To Whom It May Concern:

 

Putnam Investment Management,
LLC (“PIM”) is the investment manager to Putnam Capital Spectrum Fund (“Capital Spectrum”) and Putnam Equity
Spectrum Fund (“Equity Spectrum”), both series of Putnam Funds Trust, a Massachusetts business trust. Capital Spectrum
and Equity Spectrum hold shares of common stock, $0.0001 par value per share (“Shares”), of Global Eagle Entertainment
Inc. (“Global Eagle”). In addition, other funds, entities or accounts sponsored or managed on a discretionary basis
by PIM, Putnam Investments Limited or The Putnam Advisory Company, LLC and other officers, directors, and/or employees of PIM,
Putnam Investments Limited, or The Putnam Advisory Company, LLC (collectively, “Other Putnam Investors”) may own or
acquire securities issued by Global Eagle.

 

In the event that Shares
of Global Eagle, together with any other securities issued by Global Eagle that constitute “voting securities” (as
defined below) (”Global Eagle Voting Securities”), confer “voting rights” (as defined below) (“Global
Eagle Voting Rights”), in each case exercisable by Capital Spectrum, Equity Spectrum, and any Other Putnam Investors, exceeding,
in the aggregate, 4.99% of the total voting rights exercisable by outstanding Global Eagle Voting Securities (the portion of the
Global Eagle Voting Securities held by Capital Spectrum, Equity Spectrum, and Other Putnam Investors that confer Global Eagle Voting
Rights exceeding 4.99% of all voting rights exercisable by outstanding Global Eagle Voting Securities being referred to as the
“Excess Voting Securities”), Capital Spectrum, Equity Spectrum, and PIM (on behalf of each Other Putnam Investor) agree
to forego and to waive any and all voting rights they may have in respect of the Excess Voting Securities and any additional Global
Eagle Voting Securities (“Additional Voting Securities”) so that Global Eagle Voting Rights exercisable by Capital
Spectrum, Equity Spectrum, and Other Putnam Investors in the aggregate do not confer voting rights exceeding 4.99% of total voting
rights exercisable by all outstanding Global Eagle Voting Securities after subtracting from such total voting rights, in the calculation
of the total number of Global Eagle Voting Rights deemed to be outstanding, all Global Eagle Voting Rights exercisable by Excess
Voting Securities, Additional Voting Securities and any other Global Eagle Voting Securities held by other securityholders of Global
Eagle who have waived any or all voting rights. (In respect of PIM’s agreement on behalf of Other Putnam Investors, PIM has
or will obtain authority from each such other Putnam Investor to agree to the foregoing waiver on behalf of the Other Putnam Investor.)
The voting rights so foregone and waived will be apportioned among Capital Spectrum, Equity Spectrum, and Other Putnam Investors
on a pro rata basis based upon their relative Share holdings in Global Eagle at the time of the exercise of any vote. For
purposes of this agreement, “voting rights” are rights to vote for the election or removal of Global Eagle’s
directors, or rights deemed to be equivalent to the right to vote for the election or removal of a director, under applicable interpretations
of the term “voting security” under the Investment Company Act of 1940, as amended, by the Securities and Exchange
Commission or its staff.

 

    	A-2-

    	 

    

 

This agreement to forego
and waive voting rights is irrevocable with respect to Capital Spectrum, Equity Spectrum, and any Other Putnam Investor that is
an investment company registered under the Investment Company Act of 1940, as amended, and is irrevocable with respect to Other
Putnam Investors until such time as Capital Spectrum, Equity Spectrum, and any Other Putnam Investor that is an investment company
registered under the Investment Company Act of 1940, as amended, is no longer an owner of any Shares in Global Eagle, at which
time this agreement will expire and the remaining Other Putnam Investors will be entitled to any and all voting rights pertaining
to their Shares. It is the intention of the undersigned that this letter be interpreted broadly to effect the desire that the Excess
Shares and Additional Shares be identical to that of a separate non-voting class.

 

A copy of the Agreement
and Declaration of Trust of each of the Putnam Funds is on file with the Secretary of the Commonwealth of Massachusetts and notice
is hereby given that this instrument is executed on behalf of the Trustees of each Putnam Fund as Trustees and not individually
and that the obligations of this instrument are not binding on any of the Trustees or officers or shareholders individually, but
are binding only on the assets or property of each Putnam Fund with respect to its obligations hereunder. Furthermore, notice is
given that the assets and liabilities of each series of each Putnam Fund that is a series company are separate and distinct and
that the obligations of or arising out of this instrument are several and not joint and are binding only on the assets or property
of each series with respect to its obligations hereunder. In addition, although multiple Putnam Funds may be party hereto, each
Putnam Fund is entering into this instrument individually (and not jointly or jointly and severally) and is not liable for any
matter relating to any other Putnam Fund.

 

Very truly yours,

 

Putnam Investment Management, LLC

For itself and as investment manager for Putnam Capital Spectrum
Fund and Putnam Equity Spectrum Fund, each a series of Putnam Funds Trust

 

 

	By:  	                 	 
	Brian Lenhardt, Authorized Person	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Accepted and Agreed to:	 
	 	 	 
	Global Eagle Entertainment Inc.	 
	 	 	 
	 	 	 
	By:	 	 
	[Name]	 

 

    	A-3-Exhibit 10.4

EXECUTION VERSION

 

AMENDMENT
NO. 1 TO THE AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

 

This
AMENDMENT NO. 1 TO THE AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (the “Amendment”) is entered
into on October 21, 2013, by and between Global Eagle Entertainment Inc., a Delaware corporation (the “Company”),
and the parties named on the signature pages hereto (collectively referred to hereinafter as the “Holders”).

 

W I T N E
S S E T H:

 

WHEREAS,
the Company and the Holders, among others, entered into an Amended and Restated Registration Rights Agreement dated as of January
31, 2013 (the “Agreement”); and

 

WHEREAS,
the Company and the Holders desire to amend the Agreement as provided in this Amendment.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the foregoing, the mutual covenants, promises and agreements hereinafter set forth, the mutual
benefits to be gained by the performance thereof, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged and accepted, the parties to this Amendment, intending to be legally bound, hereby agree as follows:

 

Section
1. Defined Terms. Capitalized terms used herein,
unless otherwise defined herein, have the meanings ascribed to them in the Agreement.

 

Section
2. New Defined Terms. The parties hereby agree
to amend Section 1.1 to the Agreement to add the following new defined terms, in alphabetical order, as follows:

 

“Convertible
Note” means the convertible promissory note issued to PAR as of October 21, 2013.

 

“Existing
Resale Registration Statement” has the meaning specified in Section 1.2(a).

 

“New
Resale Registration Statement” has the meaning specified in Section 1.2(a).

 

“Original
Resale Registration Statement” has the meaning specified in Section 1.2(a).

 

    	 

    	 

    

 

“PAR
Secondary Registrable Securities” means those shares of Non-Voting Common Stock issued pursuant to the conversion of the
Convertible Note.

 

“Post-Effective
Amendment” has the meaning specified in Section 1.2(a).

 

Section
3. Amendment to Definition of PAR Registrable Securities.
The definition of “PAR Registrable Securities” in Section 1.1 is deleted in its entirety and replaced with the following
text:

 

“PAR
Registrable Securities” means the Registrable Securities issued to PAR and its affiliates pursuant to the Merger Agreement,
the Stock Purchase Agreement, the Equity Backstop Agreement and the shares of Common Stock issuable upon conversion of the shares
of Non-Voting Common Stock issuable upon conversion of the Convertible Note.

 

Section
4. Amendment to Definition of Registrable Securities.
The definition of “Registrable Securities” in Section 1.1 is deleted in its entirety and replaced with the following
text:

 

“Registrable
Securities” means (i) all shares of Common Stock of the Company held by any Holder, (ii) all shares of Common Stock of the
Company issued or issuable upon the conversion, exercise or exchange of any other equity security of the Company held by any Holder,
including without limitation, (A) any warrants to purchase shares of Common Stock and any shares of Non-Voting Common Stock of
the Company, including the PAR Secondary Registrable Securities and (B) any warrants originally exercisable for shares of capital
stock of Row 44, Inc., which warrants, pursuant to the terms of the Merger Agreement, are now, or may be, exercisable for shares
Common Stock, (iii) all shares of Common Stock issued to any Holder in connection with any stock split, stock dividend, recapitalization
or similar event (including without limitation, any shares of Common Stock issued or issuable upon conversion of any shares of
Non-Voting Common Stock issued to any Holder in connection with any stock split, stock dividend, recapitalization or similar event),
and (iv) any shares of Common Stock issued or issuable upon the exercise of any equity security of the Company that is issuable
upon conversion of any working capital loans in an amount up to $500,000 made to the Company by any Holder; provided, however,
that as to any particular Registrable Securities, such securities shall cease to be Registrable Securities when (a) a Registration
Statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities
shall have been sold, transferred, disposed of or exchanged in accordance with such Registration Statement; (b) such securities
shall have been otherwise transferred, new certificates for such securities not bearing a legend restricting further transfer
shall have been delivered by the Company and subsequent public distribution of such securities shall not require registration
under the Securities Act; (c) such securities shall have ceased to be outstanding; (d) such securities have been sold to, or through,
a broker, dealer or underwriter in a public distribution or other public securities transaction; or (e) such securities (other
than with respect to the Founder Registrable Securities, the PAR Registrable Securities or the Registrable Securities issued to
Putnam Capital Spectrum Fund and Putnam Equity Spectrum Fund and their affiliates) shall be eligible for sale pursuant to Rule
144 (or any similar rule or regulation then in force).

 

    	2

    	 

    

 

Section
5. Amendment to Section 1.2(a). Section 1.2(a) is deleted in its entirety and replaced with the following text:

 

“Registration
Statement Covering Resale of Registrable Securities. The Company shall prepare and file or cause to be prepared and filed
with the SEC, no later than seven (7) Business Days after January 31, 2013, a Registration Statement for an offering to be made
on a continuous basis pursuant to Rule 415 of the Securities Act registering the resale from time to time by Holders of all of
the Registrable Securities held by the Holders (the “Original Resale Registration Statement”) and, in the event
that the Convertible Note converts into shares of Non-Voting Common Stock, the Company shall prepare and file either (a) a new
Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415 of the Securities Act registering
the resale from time to time by Holders of all of the Registrable Securities issuable upon conversion of such shares of Non-Voting
Common Stock held by the Holders (a “New Resale Registration Statement”) or (b) a post-effective amendment
(a “Post-Effective Amendment”) to that certain registration statement on Form S-3 of the Company (SEC File
No. 333-188121) (the “Existing Resale Registration Statement”) (collectively with the Original
Registration Statement, the “Resale Shelf Registration Statement”). The Resale Shelf Registration Statement
shall be on Form S-3 or another appropriate form permitting registration of such Registrable Securities for resale by such Holders.
The Company shall use reasonable best efforts to cause the Original Resale Registration Statement to be declared effective under
the Securities Act on or prior to February 14, 2013, provided that if the Original Resale Registration Statement is not declared
effective on or prior to February 14, 2013, then the Company shall use its reasonable best efforts to cause the Original Resale
Registration Statement to be declared effective as soon as possible thereafter and in any event within seventy-five (75) days
after the date of January 31, 2013, and to keep the Original Resale Shelf Registration Statement effective under the Securities
Act at all times until the expiration of the Effectiveness Period. The Company shall prepare and file with the SEC any New Resale
Registration Statement or Post-Effective Amendment no later than thirty (30) days after the Maturity Date (as defined in the Convertible
Note) (the “Filing Date”). The Company shall use reasonable best efforts to cause any New Resale Registration
Statement or Post-Effective Amendment, as the case may be, to be declared effective under the Securities Act within thirty (30)
days following the Filing Date, provided that if such New Resale Registration Statement or Post-Effective Amendment, as the case
may be, is not declared effective on or prior to such thirtieth day, then the Company shall use reasonable best efforts to cause
such New Resale Registration Statement or Post-Effective Amendment, as the case may be, to be declared effective as soon as possible
thereafter and in any event within seventy-five (75) days after the Filing Date, and to keep the New Resale Registration Statement
or Post-Effective Amendment, as the case may be, effective under the Securities Act at all times until the expiration of the Effectiveness
Period.”

 

Section
6. Amendment to Section 1.2(e)(iii). Section 1.2(e)(iii) is deleted in its entirety and replaced with the following text:

 

“If
the managing underwriter in an Underwritten Takedown advises the Company and the Requesting Holder that, in its view, the number
of shares of Registrable Securities requested to be included in such underwritten offering exceeds the largest number of shares
that can be sold without having an adverse effect on such offering, including the price at which such shares can be sold (the
“Maximum Offering Size”), the Company shall include in such underwritten offering, up to the Maximum Offering
Size, first, as many of the Registrable Securities not including the Registrable Securities issuable upon conversion of the PAR
Secondary Registrable Securities, requested to be included by all Selling Holders (and allocated pro rata among such Selling Holders
on the basis of the relative number of Registrable Securities, not including the Registrable Securities issuable upon conversion
of the PAR Secondary Registrable Securities, held by each such Selling Holder at such time (it being understood that for the purposes
of calculating the relative number of Registrable Securities held by any Selling Holder, in the event such Selling Holder owns
any security of the Company that may be converted, exercised or exchanged into Registrable Securities, the relative number of
Registrable Securities held by such Selling Holder shall be determined as if such Selling Holder exercised such equity security
on a cashless exercise basis or converted such equity security, exclusive in each such instance of the PAR Secondary Registrable
Securities)) as can be included without adversely affecting such distribution by all Selling Holders; and second, as many of the
Registrable Securities issuable upon conversion of the PAR Secondary Registrable Securities that PAR has requested be included
as can be included without adversely affecting such distribution.”

 

    	3

    	 

    

 

Section
7 Amendment to Section 1.3. Section 1.3 is deleted in its entirety and replaced with the following text:

 

“Piggyback
Rights. If the Company proposes to register any of its shares of Common Stock (other than any registration for the account
of the Company of securities issued pursuant to any employee benefit plan or in any acquisition by the Company), the Company will
include in such registration all Registrable Securities held by the Holders requested to be so included; provided, however,
that if, in the case of an underwritten offering, the managing underwriter informs the Company that the number of shares held
by the Holders requested to be included exceeds the amount which can be sold in such offering without adversely affecting the
distribution of the shares being offered, the Company shall include, first, all of the shares the Company has proposed to register;
second, as many of the Registrable Securities not including the Registrable Securities issuable upon conversion of the PAR Secondary
Registrable Securities (pro rata based on the number of Registrable Securities, not including the Registrable Securities issuable
upon conversion of the PAR Secondary Registrable Securities, that each Holder has requested be included in such underwritten offering
and the aggregate number of Registrable Securities, not including the Registrable Securities issuable upon conversion of the PAR
Secondary Registrable Securities, that the Holders have requested to be included in such underwritten offering), as can be included
without adversely affecting such distribution; third, as many of the Registrable Securities issuable upon conversion of the PAR
Secondary Registrable Securities that PAR has requested be included in such underwritten offering as can be included without adversely
affecting such distribution; and, fourth, any other shares of Common Stock proposed to be included in such offering; provided,
however, that in no event may less than one-third of the total number of shares of Common Stock to be included in such
underwritten offering be made available for Registrable Securities.”

 

    	4

    	 

    

 

8. Effect of Amendment.
Except as explicitly amended by the terms of this Amendment, the terms of the Agreement shall remain in effect and are unchanged
by this Amendment.

 

[Signature
Page Follows]

  

    	5

    	 

    

 

IN
WITNESS WHEREOF, each of the parties hereto has caused this Amendment to be duly executed, all as of the day and year first above
written.

 

 

 

	 	COMPANY:
	 	 
	 	GLOBAL EAGLE ENTERTAINMENT INC.
	 	 
	 	By:	/s/ Michael Pigott
	 	Name:   	Michael Pigott
	 	Title:   	Vice-President, Legal Affairs
	 	 	 
	 	 	 
	 	HOLDERS:
	 	 
	 	GLOBAL EAGLE ACQUISITION LLC
	 	 	 
	 	By:	/s/ James
    A. Graf
	 	Name:	James A. Graf 
	 	Title:	Vice President, CFO, Treasurer and Secretary
	 	 	 
	 	PAR INVESTMENT PARTNERS, L.P.
	 	 
	 	By:	PAR Group, L.P., its general partner
	 	 	 
	 	By:	PAR Capital Management, Inc., its general partner
	 	 	 
	 	       	 
	 	By:	/s/ Steven M. Smith
	 	Name:	Steven M. Smith
	 	Title: 	Chief Operating Officer and General Counsel
	 	 	 
	 	PUTNAM CAPITAL SPECTRUM FUND
	 	PUTNAM EQUITY SPECTRUM FUND
	 	 
	 	 
	 	By:	Putnam Investment Management, LLC
	 	 	 
	 	        	 
	 	By:	/s/ David Glancy
	 	Name: 	David Glancy
	 	Title:  	Portfolio Manager

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