Document:

Exhibit 10.8

 

FORWARD PURCHASE
AGREEMENT

 

This Forward Purchase
Agreement (this “Agreement”) is entered into as of ___, 2020, by and between Nebula Caravel Acquisition Corp.,
a Delaware corporation (the “Company”), and the purchaser named on the signature page hereto (the “Purchaser”).

 

Recitals

 

WHEREAS, the Company
was incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization
or similar business combination with one or more businesses (a “Business Combination”);

 

WHEREAS, the Company
is in the process of filing with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement
on Form S-1 (the “Registration Statement”) for its initial public offering (“IPO”)
of 25,000,000 units (or 28,750,000 units if the underwriters’ over-allotment option (the “IPO Option”)
is exercised in full) (the “Public Units”) at a price of $10.00 per Public Unit, each Public Unit comprised
of one share of Class A common stock, par value $0.0001 per share, of the Company (the “Class A Shares,”
and the Class A Shares included in the Public Units, the “Public Shares”), and one-fourth of one redeemable
warrant, where each whole redeemable warrant is exercisable to purchase one Class A Share at an exercise price of $11.50 per
share (the “Warrants,” and the Warrants included in the Public Units, the “Public Warrants”);

 

WHEREAS, the Company’s
sponsor, Nebula Caravel Holdings, LLC, has agreed or will agree to purchase an aggregate of 4,833,333 Warrants (or 5,333,333 Warrants
if the IPO Option is exercised in full) at a price of $1.50 per warrant in a private placement that will close simultaneously with
the closing of the IPO (the “Private Placement Warrants”);

 

WHEREAS, following
the closing of the IPO (the “IPO Closing”), the Company will seek to identify and consummate a Business Combination;

 

WHEREAS, the parties
wish to enter into this Agreement, pursuant to which concurrently with the closing of the Company’s initial Business Combination
(the “Business Combination Closing”), the Company may issue and sell to the Purchaser, and the Purchaser may
purchase from the Company, on a private placement basis, [ ] Class A Shares at $10.00 per share (the “Forward Purchase
Shares”) for an aggregate purchase price of $[ ];

 

WHEREAS, proceeds
from the IPO and the sale of the Private Placement Warrants in an aggregate amount equal to the gross proceeds from the IPO will
be deposited into a trust account for the benefit of the holders of the Public Shares (the “Trust Account”),
as described in the Registration Statement.

 

NOW, THEREFORE,
in consideration of the premises, representations, warranties 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:

 

Agreement

 

1. Sale
and Purchase.

  

(a)
Forward  Purchase Units.

 

(i) Subject
to the terms and conditions set forth herein, the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase
from the Company, [ ] Forward Purchase Shares for a purchase price of $10.00 per Forward Purchase Share (the “Forward
Purchase Price”), or $[ ] in the aggregate.

 

     

     

    

 

(ii)
As soon as reasonably practicable, but in no event less than twenty (20) Business Days after the Company has identified a
target for the Business Combination and that target has indicated a willingness to enter into definitive negotiations for the Business
Combination, the Company shall provide the Purchaser with notice (the “Initial Company Notice”). Along with
delivery of the Initial Company Notice, the Company shall provide the Purchaser with all pertinent information related to the Business
Combination, including: (1) the identity of the counterparty or parties to the Business Combination (the “Target”);
(2) audited financial documents (at a minimum, income statements, balance sheets, statements of cash flow, and general ledgers)
of the Target for each fiscal for each of the previous three (3) fiscal years (if such audited financial documents are commercially
reasonably obtainable by the Company; if audited financial documents are not commercially reasonably obtainable, then unaudited
financial documents); (3) the complete terms of the Business Combination (including identification of other Forward Purchase Agreements
and the amounts thereof, any debt being utilized by the Company in furtherance of the Business Combination, and capitalization
tables for the Company immediately prior to and following the Business Combination); (4) the proposed timeline for the Business
Combination; and (5) such other information as the Purchaser (or any applicable Transferee pursuant to Section 4(b) hereof)
may reasonably request. The Company shall keep the Purchaser informed of the progress of the negotiations with the target of the
Business Combination, and shall update the information provided to the Purchaser as reasonably necessary to keep the Purchaser
informed of the status of the target and the Business Combination.

  

(B) The
Company shall inform the Purchaser of the entry into definitive agreements with the Target for the Business Combination. Prior
to the later of twenty (20) Business Days after this notification to the Purchaser or twenty (20) business days before
the Business Combination Closing, the Purchaser shall provide the Company with notice of the decision of its investment committee
as to the approval or non-approval of the purchase of Forward Purchase Shares. If approved, this notice shall constitute
the binding obligation of the Purchaser to purchase the Forward Purchase Shares, subject to the terms and conditions of this Agreement.
The determination of the Purchaser’s investment committee as to whether the Forward Purchase Shares offered to the Purchaser
are to be purchased by the Purchaser shall be made in the committee’s reasonable business judgement.

 

(iii) At
least ten (10) Business Days before the Business Combination Closing, the Company shall provide the Purchaser with an updated
notice (the “Final Company Notice”) including:

 

(A) the
anticipated date of the Business Combination Closing; and

 

(B) instructions
for wiring the Forward Purchase Price.

 

(iv) The
closing of the sale of Forward Purchase Shares (the “Forward Closing”) shall be held on the same date and concurrently
with the Business Combination Closing (such date being referred to as the “Forward Closing Date”). At least
three (3) Business Days prior to the Forward Closing Date, the Purchaser shall deliver the Forward Purchase Price for the
Forward Purchase Shares by wire transfer of U.S. dollars in immediately available funds to the account specified by the Company
in such notice (which shall be an escrow account maintained by American Stock Transfer & Trust Company, acting as escrow agent)
to be held in escrow until the Forward Closing. Immediately prior to the Forward Closing on the Forward Closing Date, (i) the
Forward Purchase Price shall be released from escrow automatically and without further action by the Company or the Purchaser,
and (ii) upon such release, the Company shall issue the Forward Purchase Shares to the Purchaser in book-entry form, free
and clear of any liens or other restrictions whatsoever (other than those arising under state or federal securities laws), registered
in the name of the Purchaser (or its nominee in accordance with its delivery instructions), or to a custodian designated by the
Purchaser, as applicable. In the event the Business Combination Closing does not occur within five (5) Business Days of the
date scheduled for closing, the Forward Closing shall not occur and the Company shall promptly (but not later than one (1) Business
Day thereafter) return the Forward Purchase Price to the Purchaser. For purposes of this Agreement, “Business Day”
means any day, other than a Saturday or a Sunday, that is neither a legal holiday nor a day on which banking institutions are generally
authorized or required by law or regulation to close in the City of New York, New York.

 

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(b) Legends.
Each register and book entry for the Forward Purchase Shares shall contain a notation, and each certificate (if any) evidencing
the Forward Purchase Shares shall be stamped or otherwise imprinted with a legend, in substantially the following form:

 

“THE SECURITIES REPRESENTED
HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION,
AND MAY NOT BE TRANSFERRED IN VIOLATION OF SUCH ACT AND LAWS. THE SALE, PLEDGE, HYPOTHECATION, OR TRANSFER OF THE SECURITIES REPRESENTED
HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN FORWARD PURCHASE AGREEMENT BY AND BETWEEN THE HOLDER AND THE COMPANY.
COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY.”

 

2. Representations
and Warranties of the Purchaser. The Purchaser represents and warrants to the Company as follows, as of the date
hereof:

 

(a) Organization
and Power. The Purchaser is duly organized, validly existing, and in good standing under the laws of the jurisdiction of its
formation and has all requisite power and authority to carry on its business as presently conducted and as proposed to be conducted.

 

(b) Authorization.
The Purchaser has full power and authority to enter into this Agreement. This Agreement, when executed and delivered by the Purchaser,
will constitute the valid and legally binding obligation of the Purchaser, enforceable against the Purchaser in accordance with
its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and
any other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws
relating to the availability of specific performance, injunctive relief or other equitable remedies, or (iii) to the extent
the indemnification provisions contained in the Registration Rights (as defined below) may be limited by applicable federal or
state securities laws.

 

(c) Governmental
Consents and Filings. No consent, approval, order or authorization of, or registration, qualification, designation, declaration
or filing with, any federal, state or local governmental authority is required on the part of the Purchaser in connection with
the consummation of the transactions contemplated by this Agreement.

 

(d) Compliance
with Other Instruments. The execution, delivery and performance by the Purchaser of this Agreement and the consummation by
the Purchaser of the transactions contemplated by this Agreement will not result in any violation or default (i) of any provisions
of its organizational documents, (ii) of any instrument, judgment, order, writ or decree to which it is a party or by which
it is bound, (iii) under any note, indenture or mortgage to which it is a party or by which it is bound, (iv) under
any lease, agreement, contract or purchase order to which it is a party or by which it is bound or (v) of any provision of
federal or state statute, rule or regulation applicable to the Purchaser, in each case (other than clause (i)), which would have
a material adverse effect on the Purchaser or its ability to consummate the transactions contemplated by this Agreement.

 

(e) Purchase
Entirely for Own Account. This Agreement is made with the Purchaser in reliance upon the Purchaser’s representation to
the Company, which by the Purchaser’s execution of this Agreement, the Purchaser hereby confirms, that the Forward Purchase
Shares to be acquired by the Purchaser will be acquired for investment for the Purchaser’s own account, not as a nominee
or agent, and not with a view to the resale or distribution of any part thereof in violation of any state or federal securities
laws, and that the Purchaser has no present intention of selling, granting any participation in, or otherwise distributing the
same in violation of law. By executing this Agreement, the Purchaser further represents that the Purchaser does not presently have
any contract, undertaking, agreement or arrangement with any Person to sell, transfer or grant participations to such Person or
to any third Person, with respect to any of the Forward Purchase Shares. For purposes of this Agreement, “Person”
means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization,
any other entity or any government or any department or agency thereof. Person does not include any affiliated entity of Purchaser.

 

(f) Disclosure
of Information. The Purchaser has had an opportunity to discuss the Company’s business, management, financial affairs
and the terms and conditions of the offering of the Forward Purchase Shares, as well as the terms of the Company’s proposed
IPO, with the Company’s management.

 

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(g) Restricted
Securities. The Purchaser understands that the offer and sale of the Forward Purchase Shares to the Purchaser has not been,
and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), by reason of
a specific exemption from the registration provisions of the Securities Act which depends upon, among other things, the bona fide
nature of the investment intent and the accuracy of the Purchaser’s representations as expressed herein. The Purchaser understands
that the Forward Purchase Shares are “restricted securities” under applicable U.S. federal and state securities laws
and that, pursuant to these laws, the Purchaser must hold the Forward Purchase Shares indefinitely unless they are registered with
the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available.
The Purchaser acknowledges that the Company has no obligation to register or qualify the Forward Purchase Shares for resale, except
for the Registration Rights. The Purchaser further acknowledges that if an exemption from registration or qualification is available,
it may be conditioned on various requirements including, but not limited to, the time and manner of sale, the holding period for
the Forward Purchase Shares, and on requirements relating to the Company which are outside of the Purchaser’s control, and
which the Company is under no obligation and may not be able to satisfy. The Purchaser acknowledges that the Company will file
the Registration Statement for its proposed IPO. The Purchaser understands that the offering of the Forward Purchase Shares is
not, and is not intended to be, part of the IPO, and that the Purchaser will not be able to rely on the protection of Section 11
of the Securities Act with respect to the Forward Purchase Shares.

 

(h) No
Public Market; IPO and Related Transactions. The Purchaser understands that no public market now exists for the Forward Purchase
Shares, and that the Company has made no assurances that a public market will ever exist for the Forward Purchase Shares. The Purchaser
further understands that the terms of the proposed IPO and each of the transactions related thereto described herein, including
but not limited to the number and price of securities sold as well as their structure and terms, are subject to adjustment and
change in the discretion of the Company and its affiliates.

 

(i) High
Degree of Risk. The Purchaser understands that its agreement to purchase the Forward Purchase Shares involves a high degree
of risk which could cause the Purchaser to lose all or part of its investment.

 

(j) Accredited
Investor. The Purchaser is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the Securities
Act.

 

(k) No
General Solicitation. Neither the Purchaser, nor any of its officers, directors, employees, agents, stockholders or partners
has either directly or indirectly, including, through a broker or finder (i) engaged in any general solicitation, or (ii) published
any advertisement in connection with the offer and sale of the Forward Purchase Shares.

 

(l) Residence.
The Purchaser’s principal place of business is the office or offices located at the address of the Purchaser set forth on
the signature page hereof.

 

(m) Non-Public Information.
The Purchaser acknowledges its obligations under applicable securities laws with respect to the treatment of non-public information
relating to the Company.

 

(n) Adequacy
of Financing. At the time of the Forward Closing, the Purchaser will have available to it sufficient funds to satisfy its obligations
under this Agreement.

 

(o) No
Other Representations and Warranties; Non-Reliance. Except for the specific representations and warranties contained in
this Section 2 and in any certificate or agreement delivered pursuant hereto, none of the Purchaser nor any
person acting on behalf of the Purchaser nor any of the Purchaser’s affiliates (the “Purchaser Parties”)
has made, makes or shall be deemed to make any other express or implied representation or warranty with respect to the Purchaser
and this offering, and the Purchaser Parties disclaim any such representation or warranty. Except for the specific representations
and warranties expressly made by the Company in Section 3 of this Agreement and in any certificate or agreement
delivered pursuant hereto, the Purchaser Parties specifically disclaim that they are relying upon any other representations or
warranties that may have been made by the Company, any person on behalf of the Company or any of the Company’s affiliates
(collectively, the “Company Parties”).

 

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3. Representations
and Warranties of the Company. The Company represents and warrants to the Purchaser as follows:

 

(a) Incorporation
and Corporate Power. The Company is duly incorporated and validly existing and in good standing as a corporation under the
laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as presently conducted
and as proposed to be conducted. The Company has no subsidiaries.

 

(b) Capitalization.
On the date hereof, the authorized share capital of the Company consists of:

 

(i) 200,000,000
Class A Shares, none of which are issued and outstanding.

 

(ii) 20,000,000
shares of Class B common stock, par value $0.0001 per share, of the Company (the “Class B Shares”),
7,187,500 of which are issued and outstanding. All of the outstanding Class B Shares have been duly authorized, are fully
paid and nonassessable and were issued in compliance with all applicable federal and state securities laws.

 

(iii) 1,000,000
shares of undesignated preferred stock, none of which are issued and outstanding.

 

(c) Authorization.
All corporate action required to be taken by the Company’s Board of Directors and stockholders in order to authorize the
Company to enter into this Agreement and to issue the Forward Purchase Shares at the Forward Closing has been taken or will be
taken prior to the Forward Closing. All action on the part of the stockholders, directors and officers of the Company necessary
for the execution and delivery of this Agreement, the performance of all obligations of the Company under this Agreement to be
performed as of the Forward Closing, and the issuance and delivery of the Forward Purchase has been taken or will be taken prior
to the Forward Closing. This Agreement, when executed and delivered by the Company, shall constitute the valid and legally binding
obligation of the Company, enforceable against the Company in accordance with its terms except (i) as limited by applicable
bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or other laws of general application relating to or
affecting the enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific
performance, injunctive relief, or other equitable remedies, or (iii) to the extent the indemnification provisions contained
in the Registration Rights may be limited by applicable federal or state securities laws.

 

(d) Valid
Issuance of Securities. The Forward Purchase Shares, when issued, sold and delivered in accordance with the terms and for the
consideration set forth in this Agreement, will be validly issued, fully paid and nonassessable, as applicable, and free of all
preemptive or similar rights, taxes, liens, encumbrances and charges with respect to the issue thereof and restrictions on transfer
other than restrictions on transfer specified under this Agreement, applicable state and federal securities laws and liens or encumbrances
created by or imposed by the Purchaser. Assuming the accuracy of the representations of the Purchaser in this Agreement and subject
to the filings described in Section 3(e) below, the Forward Purchase Shares will be issued in compliance
with all applicable federal and state securities laws.

 

(e) Governmental
Consents and Filings. Assuming the accuracy of the representations and warranties made by the Purchaser in this Agreement,
no consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing with, any federal,
state or local governmental authority is required on the part of the Company in connection with the consummation of the transactions
contemplated by this Agreement, except for filings pursuant to Regulation D of the Securities Act, and applicable state securities
laws, if any, and pursuant to the Registration Rights.

 

(f) Compliance
with Other Instruments. The execution, delivery and performance of this Agreement and the consummation of the transactions
contemplated by this Agreement will not result in any violation or default (i) of any provisions of the Company’s certificate
of incorporation, as it may be amended from time to time (the “Charter”), or other governing documents of the
Company, (ii) of any instrument, judgment, order, writ or decree to which the Company is a party or by which it is bound,
(iii) under any note, indenture or mortgage to which the Company is a party or by which it is bound, (iv) under any lease,
agreement, contract or purchase order to which the Company is a party or by which it is bound or (v) of any provision of federal
or state statute, rule or regulation applicable to the Company, in each case (other than clause (i)) which would have a material
adverse effect on the Company or its ability to consummate the transactions contemplated by this Agreement.

 

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(g) Operations.
As of the date hereof, the Company has not conducted, and prior to the IPO Closing the Company will not conduct, any operations
other than organizational activities and activities in connection with offerings of its securities.

 

(h) No
General Solicitation. Neither the Company, nor any of its officers, directors, employees, agents or stockholders has either
directly or indirectly, including, through a broker or finder (i) engaged in any general solicitation, or (ii) published
any advertisement in connection with the offer and sale of the Forward Purchase Shares.

 

(i) No
Other Representations and Warranties; Non-Reliance. Except for the specific representations and warranties contained in
this Section 3 and in any certificate or agreement delivered pursuant hereto, none of the Company Parties
has made, makes or shall be deemed to make any other express or implied representation or warranty with respect to the Company,
this offering, the proposed IPO or a potential Business Combination, and the Company Parties disclaim any such representation or
warranty. Except for the specific representations and warranties expressly made by the Purchaser in Section 2 of
this Agreement and in any certificate or agreement delivered pursuant hereto, the Company Parties specifically disclaim that they
are relying upon any other representations or warranties that may have been made by the Purchaser Parties.

 

4. Registration
Rights; Transfer

 

(a) Registration
Rights. The Purchaser has been or will be granted customary registration rights by the Company with respect to the Forward
Purchase Shares pursuant to a registration rights agreement to be entered into with the Company, a form of which has been or will
be filed with the registration statement relating to the Company’s IPO (the “Registration Rights”).

 

(b) Transfer.
This Agreement and all of the Purchaser’s rights and obligations hereunder (including the Purchaser’s obligation to
purchase the Forward Purchase Shares) may be transferred or assigned, at any time and from time to time, in whole or in part, to
one or more affiliates of the Purchaser (each such transferee, a “Transferee”). Upon any such assignment:

 

(i) the
applicable Transferee shall execute a signature page to this Agreement, substantially in the form of the Purchaser’s signature
page hereto (the “Joinder Agreement”), which shall reflect the number of Forward Purchase Shares to be purchased
by such Transferee (the “Transferee Securities”), and, upon such execution, such Transferee shall have all the
same rights and obligations of the Purchaser hereunder with respect to the Transferee Securities, and references herein to the
“Purchaser” shall be deemed to refer to and include any such Transferee with respect to such Transferee and
to its Transferee Securities; provided, that any representations, warranties, covenants and agreements of the Purchaser
and any such Transferee shall be several and not joint and shall be made as to the Purchaser or any such Transferee, as applicable,
as to itself only; and

 

(ii) upon
a Transferee’s execution and delivery of a Joinder Agreement, the number of Forward Purchase Shares to be purchased by the
Purchaser hereunder shall be reduced by the total number of Forward Purchase Shares to be purchased by the applicable Transferee
pursuant to the applicable Joinder Agreement, which reduction shall be evidenced by the Purchaser and the Company amending Schedule
A to this Agreement to reflect each transfer and updating the “Number of Forward Purchase Shares” and “Aggregate
Purchase Price for Forward Purchase Shares” on the Purchaser’s signature page hereto to reflect such reduced number
of Forward Purchase Shares, and the Purchaser shall be fully and unconditionally released from its obligation to purchase such
Transferee Securities hereunder. For the avoidance of doubt, this Agreement need not be amended and restated in its entirety, but
only Schedule A and the Purchaser’s signature page hereto need be so amended and updated and executed by
each of the Purchaser and the Company upon the occurrence of any such transfer of Transferee Securities.

 

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5. Additional
Agreements, Acknowledgements and Waivers of the Purchaser.

 

(a) Lock-up; Transfer
Restrictions. The Purchaser agrees that it shall not Transfer any Forward Purchase Shares until 30 days after the completion
of the initial Business Combination. Notwithstanding the foregoing, Transfers of the Forward Purchase Shares are permitted (any
such transferees, the “Permitted Transferees”): (A) to the Company’s officers or directors, any affiliates
or family members of any of the Company’s officers or directors, any members of the Purchaser, or any affiliates of the Purchaser;
(B) in the case of an individual, by gift to a member of the individual’s immediate family, to a trust, the beneficiary
of which is a member of individual’s immediate family or an affiliate of such person, or to a charitable organization; (C) in
the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (D) in the case of
an individual, pursuant to a qualified domestic relations order; (E) in the event of the Company’s liquidation, merger, share
exchange, reorganization or other similar transaction which results in all of the Company’s stockholders having the right
to exchange their Class A Shares for cash, securities or other property subsequent to the completion of a Business Combination;
(F) as a distribution to limited partners, members or stockholders of the Purchaser; (G)  to a nominee or custodian of
a person or entity to whom a disposition or transfer would be permissible under clauses (A) through (F) above; provided, however,
that in each case, these Permitted Transferees must enter into a written agreement agreeing to be bound by these transfer restrictions.
“Transfer” shall mean the (x) sale or assignment of, offer to sell, contract or agreement to sell, hypothecation,
pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment
or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position (within the meaning
of Section 16 of the Exchange Act, and the rules and regulations of the SEC promulgated thereunder) with respect to, any of
the Forward Purchase Shares (excluding any pledges in the ordinary course of business for bona fide financing purposes or as part
of prime brokerage arrangements), (y) entry into any swap or other arrangement that transfers to another, in whole or in part,
any of the economic consequences of ownership of any of the Forward Purchase Shares, whether any such transaction is to be settled
by delivery of such Forward Purchase Shares, in cash or otherwise, or (z) public announcement of any intention to effect any
transaction specified in clause (x) or (y).

 

(b) Trust
Account.

 

(i) The
Purchaser hereby acknowledges that it is aware that the Company will establish the Trust Account for the benefit of its public
stockholders upon the IPO Closing. The Purchaser, for itself and its affiliates, hereby agrees that it has no right, title, interest
or claim of any kind in or to any monies held in the Trust Account, or any other asset of the Company as a result of any liquidation
of the Company, except for redemption and liquidation rights, if any, the Purchaser may have in respect of any Public Shares held
by it.

 

(ii) The
Purchaser hereby agrees that it shall have no right of set-off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account
that it may have now or in the future, except for redemption and liquidation rights, if any, the Purchaser may have in respect
of any Public Shares held by it. In the event the Purchaser has any Claim against the Company under this Agreement, the Purchaser
shall pursue such Claim solely against the Company and its assets outside the Trust Account and not against the property or any
monies in the Trust Account, except for redemption and liquidation rights, if any, the Purchaser may have in respect of any Public
Shares held by it.

 

6. NASDAQ
Listing. The Company will use commercially reasonable efforts to effect the listing of the Class A Shares and Public
Warrants on the Nasdaq Capital Market (or another national securities exchange) at the time of the Business Combination Closing.

 

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7. Forward
Closing Conditions.

 

(a) The
obligation of the Purchaser to purchase the Forward Purchase Shares at the Forward Closing under this Agreement shall be subject
to the fulfillment, at or prior to the Forward Closing of each of the following conditions, any of which, to the extent permitted
by applicable laws, may be waived by the Purchaser:

 

(i) The
Business Combination shall be consummated substantially concurrently with the purchase of the Forward Purchase Shares, on terms
materially identical to those set forth in the Initial Company Notice;

 

(ii) The
Purchaser and any applicable Transferee shall have obtained the approval of its respective investment committee to consummate
the purchase of the Forward Purchase Shares hereunder;

 

(iii) The
Company shall have delivered to the Purchaser a certificate evidencing the Company’s good standing as a Delaware corporation;

 

(iv) The
representations and warranties of the Company set forth in Section 3 of this Agreement shall have been true
and correct as of the date hereof and shall be true and correct as of the Forward Closing Date, as applicable, with the same effect
as though such representations and warranties had been made on and as of such date (other than any such representation or warranty
that is made by its terms as of a specified date, which shall be true and correct as of such specified date), except where the
failure to be so true and correct would not have a material adverse effect on the Company or its ability to consummate the transactions
contemplated by this Agreement;

 

(v) The
Company shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required
by this Agreement to be performed, satisfied or complied with by the Company at or prior to the Forward Closing; and

 

(vi) No
order, writ, judgment, injunction, decree, determination, or award shall have been entered by or with any governmental, regulatory,
or administrative authority or any court, tribunal, or judicial, or arbitral body, and no other legal restraint or prohibition
shall be in effect, preventing the purchase by the Purchaser of the Forward Purchase Shares.

 

(b) The
obligation of the Company to sell the Forward Purchase Shares at the Forward Closing under this Agreement shall be subject to the
fulfillment, at or prior to the Forward Closing of each of the following conditions, any of which, to the extent permitted by applicable
laws, may be waived by the Company:

 

(i) The
Business Combination shall be consummated substantially concurrently with the purchase of Forward Purchase Shares;

 

(ii) The
representations and warranties of the Purchaser set forth in Section 2 of this Agreement shall have been
true and correct as of the date hereof and shall be true and correct as of the Forward Closing Date, as applicable, with the same
effect as though such representations and warranties had been made on and as of such date (other than any such representation or
warranty that is made by its terms as of a specified date, which shall be true and correct as of such specified date), except where
the failure to be so true and correct would not have a material adverse effect on the Purchaser or its ability to consummate the
transactions contemplated by this Agreement;

 

(iii) The
Purchaser shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required
by this Agreement to be performed, satisfied or complied with by the Purchaser at or prior to the Forward Closing; and

 

    8

     

    

 

(iv) No
order, writ, judgment, injunction, decree, determination, or award shall have been entered by or with any governmental, regulatory,
or administrative authority or any court, tribunal, or judicial, or arbitral body, and no other legal restraint or prohibition
shall be in effect, preventing the purchase by the Purchaser of the Forward Purchase Shares.

 

8. Termination.
This Agreement may be terminated at any time prior to the Forward Closing:

 

(a) by
mutual written consent of the Company and the Purchaser;

 

(b) automatically

 

(i) if
the IPO is not consummated on or prior to twelve months from the date of this Agreement; or

 

(ii) if
the Business Combination is not consummated within 30 months from the closing of the IPO, or such later date as may be approved
by the Company’s stockholders.

 

In the event of
any termination of this Agreement pursuant to this Section 8, the Forward Purchase Price (and interest thereon,
if any), if previously paid, and all Purchaser’s funds paid in connection herewith shall be promptly returned to the Purchaser,
and thereafter this Agreement shall forthwith become null and void and have no effect, without any liability on the part of the
Purchaser or the Company and their respective directors, officers, employees, partners, managers, members, or stockholders and
all rights and obligations of each party shall cease; provided, however, that nothing contained in this Section 8 shall
relieve either party from liabilities or damages arising out of any fraud or willful breach by such party of any of its representations,
warranties, covenants or agreements contained in this Agreement.

 

9. General
Provisions.

 

(a) Notices.
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively
given upon the earlier of actual receipt, or (i) personal delivery to the party to be notified, (ii) when sent, if sent
by electronic mail or facsimile (if any) during normal business hours of the recipient, and if not sent during normal business
hours, then on the recipient’s next Business Day, (iii) five (5) Business Days after having been sent by registered
or certified mail, return receipt requested, postage prepaid, or (iv) one (1) Business Day after deposit with a nationally
recognized overnight courier, freight prepaid, specifying next Business Day delivery, with written verification of receipt. All
communications sent to the Company shall be sent to: Nebula Caravel Acquisition Corp., Four Embarcadero Center, Suite 2100, San
Francisco, CA 94111, Attn: Rufina Adams, Chief Financial Officer, , email: rufina@truewindcapital.com, with a copy
to the Company’s counsel at: Ellenoff Grossman & Schole LLP, 1345 Avenue of the Americas, New York, NY 10105, Attn: Stuart
Neuhauser, Esq.., email: sneuhauser@egsllp.com.

 

All communications
to the Purchaser shall be sent to the Purchaser’s address as set forth on the signature page hereof, or to such e-mail address,
facsimile number (if any) or address as subsequently modified by written notice given in accordance with this Section 9(a).

 

(b) No
Finder’s Fees. Each party represents that it neither is nor will be obligated for any finder’s fee or commission
in connection with this transaction. The Purchaser agrees to indemnify and to hold harmless the Company from any liability for
any commission or compensation in the nature of a finder’s or broker’s fee arising out of this transaction (and the
costs and expenses of defending against such liability or asserted liability) for which the Purchaser or any of its officers, employees
or representatives is responsible. The Company agrees to indemnify and hold harmless the Purchaser from any liability for any commission
or compensation in the nature of a finder’s or broker’s fee arising out of this transaction (and the costs and expenses
of defending against such liability or asserted liability) for which the Company or any of its officers, employees or representatives
is responsible.

 

(c) Survival
of Representations and Warranties. All of the representations and warranties contained herein shall survive the Forward Closing.

 

    9

     

    

 

(d) 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.

 

(e) Successors.
All of the terms, agreements, covenants, representations, warranties, and conditions of this Agreement are binding upon, and inure
to the benefit of and are enforceable by, the parties hereto and their respective successors. Nothing in this Agreement, express
or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights,
remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

 

(f) Assignments.
Except as otherwise specifically 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.

 

(g) 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.

 

(h) 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.

 

(i) Governing
Law. This Agreement, the entire relationship of the parties hereto, and any dispute 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 New York, without giving effect to its choice of laws principles.

 

(j) Jurisdiction.
The parties (i) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts of New York and to the
jurisdiction of the United States District Court for the Southern District of New York for the purpose of any suit, action or other
proceeding arising out of or based upon this Agreement, (ii) agree not to commence any suit, action or other proceeding arising
out of or based upon this Agreement except in state courts of New York or the United States District Court for the Southern District
of New York, and (iii) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit,
action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property
is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that
the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced
in or by such court.

 

(k) 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.

 

(l) Amendments.
This Agreement may not be amended, modified or waived as to any particular provision except with the prior written consent of the
Company and the Purchaser.

 

(m) 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.

 

(n) Expenses.
Each of the Company and the Purchaser 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. The Company shall be responsible for the fees of
its transfer agent; stamp taxes and all of The Depository Trust Company’s fees associated with the issuance of the Forward
Purchase Shares.

 

    10

     

    

 

(o) 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
representation, warranty, and covenant contained herein will have independent significance. If any party hereto has breached any
representation, warranty, or covenant contained herein in any respect, the fact that there exists another representation, warranty
or 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 representation, warranty,
or covenant.

 

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

 

(q) Specific
Performance. The Purchaser agrees that irreparable damage may occur in the event any provision of this Agreement was not performed
by the Purchaser in accordance with the terms hereof and that the Company shall be entitled to specific performance of the terms
hereof, in addition to any other remedy at law or equity.

 

[Signature Page
Follows]

 

    11

     

    

 

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

 

	PURCHASER:	 
	 	 	 
	[            
    ]	 
	 	 	 
	By:	                          	 
	Name:	 	 
	Title:	Chief Executive Officer	 

 

Address for Notices: 

 

[            ]

 

With a copy to

 

[            ]

 

COMPANY:

 

NEBULA CARAVEL ACQUISITION CORP.

 

	By:	 	 
	Name:	Adam H. Clammer	 
	Title:	Chief Executive Officer	 

 

[Signature Page
to Forward Purchase Agreement]

 

    12

     

    

 

TO BE EXECUTED UPON ANY ASSIGNMENT
IN ACCORDANCE WITH THIS AGREEMENT TO “NUMBER OF FORWARD PURCHASE SHARES” AND “AGGREGATE PURCHASE PRICE FOR FORWARD
PURCHASE SHARES” SET FORTH BELOW

 

 

	 	 	 	 
	Number of Forward Purchase Shares:	 	 	 	 
	 	 	 	 	 
	Aggregate Purchase Price for Forward Purchase Shares:	 	$		 
	 	 	 	 	 

 

Number of Forward Purchase Shares and
Aggregate Purchase Price for Forward Purchase Shares as of    ,
202[   ], accepted and agreed to as of this            day
of                  , 202[    ].

	 	 	 
	 	[__________]
	 	 	 
	 	By:	              
	 	Name:	 
	 	Title:	 
	 	 
	 	NEBULA CARAVEL ACQUISITION CORP.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    13

     

    

 

SCHEDULE A

 

SCHEDULE OF
TRANSFERS OF FORWARD PURCHASE SHARES

 

The following
transfers of a portion of the original number of Forward Purchase Shares have been made:

 

	
        Date of

        

        Transfer

        
	 	Transferee	 	Number of

Forward Purchase Shares

Transferred	 	
        Purchaser Revised

        Forward Purchase Shares

         Amount

        

	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

    A-1

     

    

 

TO BE EXECUTED UPON ANY ASSIGNMENT
OF FORWARD PURCHASE SHARES:

 

Schedule A as
of            , 202[       ], accepted
and agreed to as of this            day
of             , 202[
        ] by:

 

	[__________]	 	NEBULA CARAVEL ACQUISITION CORP.
	 	 	 	 	                  
	By:	       	 	By:	 
	Name:	 	 	Name:	 
	Title:	 	 	Title:	 

 

 

A-2Exhibit 10.1

 

FORBEARANCE AGREEMENT

 

This FORBEARANCE AGREEMENT,
dated as of November 30, 2020 (this “Agreement”), is entered into between Pareteum Corporation, a Delaware corporation
(the “Company”), and HT Investments SA LLC (“HT”).

 

PRELIMINARY
STATEMENTS:

 

WHEREAS, the Company
and HT are parties to (i) that certain Senior Secured Convertible Note due 2025, dated as of June 8, 2020 (as amended by that certain
Amendment to Senior Secured Convertible Note Due 2025, dated as of July 18, 2020, the “Note”), made by the Company
to HT, (ii) that certain Warrant to Purchase Common Stock, dated June 8, 2020 (the “June Warrant”), issued by
the Company to HT, (iii) that certain Warrant to Purchase Common Stock, dated March 17, 2020 (the “March Warrant”),
issued by the Company to HT and (iv) that certain Securities Purchase Agreement, dated as of June 8, 2020 (the “SPA”),
between HT and the Company;

 

WHEREAS, the Company
has requested that HT agree to forebear from exercising certain rights and remedies under the Note and the SPA; and

 

WHEREAS, HT is,
on the terms and conditions stated below, willing to grant such request and to forebear from exercising such rights and remedies
as hereinafter set forth;

 

NOW THEREFORE,
for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each party to this Agreement
agrees, as follows:

 

ARTICLE
I

DEFINITIONS

 

1.01       Definitions.
The following capitalized terms not otherwise defined herein have the following meanings:

 

“Enforcement
Action” means any of the following actions:

 

(a)       any
acceleration of any amounts owed under the Note pursuant to Section 11(B)(ii) thereof;

 

(b)       any
exercise of any remedy with respect to any collateral of the Company or any of its Subsidiaries under (i) Section 4.6 of the Security
Agreement, or (ii) any Control Agreement, the Artilium Pledge Agreement, the Pareteum Europe Pledge Agreement or the Pareteum Europe
Security Agreement (each as defined in the Security Agreement);

 

(c)       any
action in its capacity as attorney-in-fact for the Company or any of its Subsidiaries pursuant to Section 4.10 of the Security
Agreement;

 

    	 	1	 

     

    

 

(d)       any
action to file or initiate, or to join with other Persons in filing or initiating, any proceeding, assignment or appointment described
in Section 11(A)(xx) of the Note against the Company or any of its Subsidiaries;

 

(e)       any
action to bring, or cause to be brought on its behalf, any charge, cause of action, complaint, demand, mediation, arbitration or
other legal proceeding alleging, or arising out of, any breach or alleged breach of the terms and provisions of any Transaction
Document;

 

(f)       any
action to enforce specifically the rights provided to a party under the SPA or recover damages by reason of any breach of any provision
of the SPA; and/or

 

(g)       any
action to enforce specifically the rights provided to a party under the Warrant or recover damages by reason of any breach of any
provision of the Warrant;

 

provided, that,
for the avoidance of doubt, the accrual of Default Interest pursuant to Section 4(B)(ii) of the Note shall not constitute an Enforcement
Action.

 

“Security Agreement”
means that certain Security Agreement, dated as of June 8, 2020, among the Company, certain of its Subsidiaries and HT.

 

“Transaction
Documents” means the Note, the SPA, the June Warrant, the March Warrant, the Security Agreement, the other Security Documents
(as defined in the Security Agreement) and any other Transaction Documents (as defined in the SPA).

 

1.02       Other
Definitions. Unless otherwise defined herein or the context otherwise requires, terms used in this Agreement, including its
preamble and recitals, have the meanings provided in the Note or the SPA, as may be applicable.

 

ARTICLE
II

FORBEARANCE

 

2.01       Forbearance.
Effective as of the date hereof and until the Forbearance Termination Date, HT agrees that it shall not, directly or indirectly,
exercise any right or remedy under any Transaction Document or take any other Enforcement Action in respect of the occurrence and
continuance of any Existing Event of Default, or encourage any other Person to take or initiate any such Enforcement Action or
other action.

 

2.02       Reservation
of Rights.

 

(a)       The
execution and delivery of this Agreement by HT, and the acceptance by HT of performance by the Company hereunder (i) shall not
constitute a waiver or release of any Existing Event of Default and (ii) except as expressly provided in Section 2.01, shall
be without prejudice to, and is not a waiver or release of any right of HT to exercise any and all rights conferred on it under
the Transaction Documents or at law or in equity in respect of any Existing Event of Default or otherwise.

 

    	 	2	 

     

    

 

(b)       The
Company acknowledges and agrees that HT expressly reserves all of its rights, remedies, claims and causes of action under the Transaction
Documents and pursuant to applicable law, including, without limitation, in regard to the property subject to security interests
under the Transaction Documents. HT has not waived any of such rights, remedies, claims or causes of action, and nothing in this
Agreement, and no delay on its part in exercising any such rights, remedies, claims or causes of action, may or will be construed
as a waiver of any such rights, remedies, claims or causes of action.

 

(c)       On
the Forbearance Termination Date, without any further action by HT or any other Person, all of the terms and provisions set forth
in the Transaction Documents with respect to any Existing Event of Default shall have the same force and effect as if the agreement
in Section 2.01 had never become effective, and HT shall have all of the rights and remedies afforded to it under the Transaction
Documents with respect to any such Existing Event of Default as though the agreements in Section 2.01 had never become effective.

 

(d)       Notwithstanding
anything contained herein to the contrary, the agreement in Section 2.01 is not intended and shall not be deemed or construed
to constitute a waiver of any other Default or Event of Default that hereafter may occur under any Transaction Document or to establish
a custom or course of dealing among the parties to this Agreement or any of them. HT shall not be under any obligation to extend
the Forbearance Termination Date or to enter into any further agreement in respect of the Existing Events of Default.

 

2.03       Termination.
The obligation of HT pursuant to Section 2.01 shall terminate without notice or action by any party on the date of the earlier
to occur of the following (the “Forbearance Termination Date”): (a) December 31, 2020 (or any later date agreed
to in writing by HT); (b) the occurrence of any Event of Default (other than an Existing Event of Default); and (c) the initiation
of any action by the Company or any other Person to invalidate or limit the enforceability of any of the acknowledgments set forth
in Article 3 hereof.

 

ARTICLE
III

REPRESENTATIONS AND WARRANTIES

 

In order to induce HT
to enter into this Agreement, the Company hereby represents and warrants that on and as of the date hereof after giving effect
to this Agreement:

 

3.01       Existing
Events of Default. The Company hereby acknowledges and agrees that the Events of Default set forth in Schedule I to
this Agreement (each an “Existing Event of Default”) have occurred and are continuing, each of which independently
constitutes an Event of Default and entitles HT to exercise its rights and remedies under the Note, applicable law, or otherwise.

 

3.02       SPA
Representations. The representations and warranties of the Company contained in the SPA are true and correct in all material
respects except (i) to the extent that such representations and warranties specifically refer to an earlier date, in which case
they shall be true and correct in all material respects as of such earlier date and (ii) to the extent such representations and
warranties are not true and correct as a result of any of the Existing Events of Default.

 

    	 	3	 

     

    

 

3.03       Acknowledgment
of Indebtedness. The Company hereby acknowledges, confirms, and agrees that as of the date hereof, the Company is indebted
to HT in the principal amount of $17,500,000, in addition to interest, expenses, fees and other Event of Default Acceleration Amount.
The Company hereby acknowledges, confirms, and agrees that (i) all Event of Default Acceleration Amount, including interest accrued
and accruing thereon, and all fees, costs, expenses, and other charges now or hereafter payable to HT, in each case in accordance
with the terms of the Note, are unconditionally owing by the Company, and (ii) that the Company has entered an Event of Default
Conversion Period as a result of the existence of the Existing Events of Default, in each case without offset, defense, or counterclaim
of any kind, nature, or description whatsoever.

 

3.04       Ratification;
Reaffirmation.  The Company hereby reaffirms and ratifies the Transaction Documents, each as amended, restated, modified, and/or
supplemented. The Company hereby ratifies, affirms, reaffirms, acknowledges, confirms and agrees that (a) all of the Company’s
obligations owing to HT under the Transaction Documents are hereby reaffirmed; and (b) the Transaction Documents are the legal,
valid and binding obligations of the Company and are enforceable against the Company in accordance with their respective terms,
except as enforceability may be limited by applicable equitable principles or by bankruptcy, insolvency, reorganization, moratorium
or other similar laws affecting creditors' rights generally.

 

3.05       No
Default.  Except for the Existing Events of Default, no other Default or Event of Default has occurred and is continuing or
resulted from the consummation of the transactions contemplated by this Agreement and the Company hereby acknowledges and agrees
that as of the date hereof, it is not aware of any prospective Event of Default other than the Existing Events of Default.

 

3.06       Additional
Events of Default. The parties hereto acknowledge, confirm, and agree that any misrepresentation by the Company or any failure
of the Company to comply with the covenants, conditions and agreements contained in this Agreement will constitute an immediate
default under this Agreement and an immediate Event of Default under the Note. Notwithstanding the agreement to forbear contained
in Section 2.01 of the Agreement, in the event that any Person, other than HT, at any time exercises for any reason (including,
without limitation, by reason of any present or future Event of Default, or otherwise) any of its rights or remedies against the
Company or against the Company's properties or assets, in each case, of the type that would constitute an Event of Default under
the terms and provisions of the Note, then such occurrence shall also be deemed to constitute an immediate Event of Default hereunder
and under the Note.

 

3.07       Binding
Effect of Documents. The Company hereby represents, warrants, and covenants that this Agreement has been duly authorized, executed,
and delivered to HT by the Company, is enforceable in accordance with its terms, and is in full force and effect.

 

3.08       No
Conflict. The Company hereby represents, warrants, and covenants that the execution, delivery, and performance of this Agreement
by the Company will not violate any requirement of law or contractual obligation of the Company and will not result in, or require,
the creation or imposition of any Lien on any of their properties or revenues (other than Liens in favor of HT).

 

    	 	4	 

     

    

 

ARTICLE
IV

AMENDMENTS

 

4.01       Amendment
to Definitions Under the Note. Section 1 of the Note is hereby amended by restating in its entirety the definitions of “Event
of Default Conversion Period”, “Event of Default Conversion Price” and “Market Stock Payment Price”
as follows:

 

““Event
of Default Conversion Period” means, with respect to an Event of Default, the period beginning on, and including, the
date such Event of Default occurs and ending on the later of (A) the twentieth (20th) Trading Day after the Holder’s receipt
of an Event of Default Notice and (B) thirty (30) Trading Days after the date the Holder receives written notice from the Company
that such Event of Default has been cured.””

 

““Event
of Default Conversion Price” means, with respect to the conversion of this Note (or any portion of this Note), the lesser
of (A) the Conversion Price that would be in effect immediately after the Close of Business on the Conversion Date for such conversion,
without giving effect to Section 8(H); and (B) seventy five percent (75%) of the lowest Daily VWAP per share of Common Stock during
the thirty (30) consecutive VWAP Trading Days ending on, and including, such Conversion Date (or, if such Conversion Date is not
a VWAP Trading Day, the immediately preceding VWAP Trading Day).”

 

““Market
Stock Payment Price” means, with respect to any Interest Payment Date or Optional Redemption Stock Payment Date, an amount
equal to eighty-five percent (85%) of the lowest Daily VWAP during the ten (10) VWAP Trading Day period ending on the VWAP Trading
Day immediately prior to such Interest Payment Date or Optional Redemption Stock Payment Date, as applicable.”

 

    	 	5	 

     

    

 

4.02       Amendment
to Company’s Election to Pay Stated Interest in Cash or Common Stock. Section 5(B) of the Note is hereby amended and
restated in its entirety as follows:

 

“Company’s
Election to Pay Stated Interest in Cash or Common Stock. At least ten (10) Trading Days (but no more than twenty (20) Trading
Days) prior to an Interest Payment Date, the Company, if it desires to elect to make a payment of Stated Interest with respect
to such Interest Payment Date, entirely or partially, in cash, shall deliver to the Holder a written notice of such election stating
which portion thereof the Company has elected to pay in cash (a “Interest Cash Payment Notice”), and such amount
shall be paid on the applicable Interest Payment Date in cash pursuant to Section 5(A) (and such election shall be irrevocable
as to such payment of Stated Interest (or portion thereof)). Failure to timely deliver such written notice to the Holder shall
be deemed an election by the Company to pay the Stated Interest (or applicable portion thereof) with respect to such Interest Payment
Date in shares of Common Stock, subject to the terms hereof. With respect to any Interest Payment Date for which the Company has
made a deemed election to pay Stated Interest (or any applicable portion thereof) in shares of Common Stock in accordance with
this Section 5(B), (i) the Holder shall have the right to allocate all or any portion of the applicable payment of Stated
Interest (or applicable portion thereof) to one or more Scheduled Trading Days (any such date, an “Interest Stock Payment
Date”) during the period beginning on, and including, the applicable Interest Payment Date and ending on, and including,
the Scheduled Trading Day immediately before the subsequent Interest Payment Date (the “Interest Stock Payment Period”)
or defer such payment of Stated Interest (or applicable portion thereof) to any future Interest Payment Date selected by the Holder;
and (ii) the Company shall issue to the Holder a number of validly issued, fully paid and Freely Tradable shares of Common Stock
equal to the quotient (rounded up to the closest whole number) obtained by dividing such payment of Stated Interest (or any applicable
portion thereof) by the Market Stock Payment Price as of such Interest Stock Payment Date. The Holder must provide notice to the
Company of its election of any Interest Stock Payment Date and the applicable portion of Stated Interest it is electing to receive
on each such Interest Stock Payment Date no later than 4:30 p.m. New York Time on such Interest Stock Payment Date. Notwithstanding
anything herein to the contrary, the Company will not have the right to, and will not, make any payment of Stated Interest (or
any applicable portion thereof) in shares of Common Stock if the Equity Conditions are not satisfied for each VWAP Trading Day
occurring between the date that is five (5) Trading Days prior to the applicable Interest Payment Date and the applicable Interest
Stock Payment Date, and such payment of Stated Interest (or any applicable portion thereof) shall instead be paid in cash in accordance
with Section 5(A), unless such failure of the Equity Conditions to be so satisfied is waived in writing by the Holder, which
waiver may be granted or withheld by the Holder in its sole discretion. The Company shall not pay any portion of a payment of Stated
Interest in shares of Common Stock unless the Holder has designated an Interest Stock Payment Date for such portion. Any portion
of a payment of Stated Interest not paid in shares of Common Stock because the Holder did not allocate such payment of Stated Interest
(or applicable portion thereof) to a Scheduled Trading Day during the applicable Interest Stock Payment Period or because the Holder
elected to defer the receipt of such payment of Stated Interest (or portion thereof) during the applicable Interest Stock Payment
Period will be automatically deferred to the next Interest Payment Date or such future Interest Payment Date as was elected by
the Holder, as applicable. Any such shares of Common Stock will be delivered by the Company to the Holder on or before the second
(2nd) Business Day following the applicable Interest Stock Payment Date.”

 

    	 	6	 

     

    

 

4.03       Amendment
to Company’s Election to Pay Optional Redemption Payments in Cash or Common Stock. Section 5(C) of the Note is hereby
amended and restated in its entirety as follows:

 

“Company’s
Election to Pay Optional Redemption Payments in Cash or Common Stock. At least ten (10) Trading Days (but no more than twenty
(20) Trading Days) prior to an Optional Redemption Date, the Company, if it desires to elect to make an Optional Redemption Payment
with respect to such Optional Redemption Date, entirely or partially, in cash, shall deliver to the Holder a written notice of
such election stating which portion thereof the Company has elected to pay in cash (an “Optional Redemption Cash Payment
Notice”) (and such election shall be irrevocable as to such Optional Redemption Date). Failure to timely deliver such
written notice to the Holder shall be deemed an election by the Company to pay the Optional Redemption Payment (or applicable portion
thereof) with respect to such Optional Redemption Date in shares of Common Stock, subject to the terms hereof. With respect to
any Optional Redemption Date for which the Company has made a deemed election to make an Optional Redemption Payment (or any applicable
portion thereof) in shares of Common Stock in accordance with this Section 5(C), (i) the Holder shall have the right to
allocate all or any portion of the applicable Optional Redemption Payment (or applicable portion thereof) to one or more Scheduled
Trading Days (any such date, an “Optional Redemption Stock Payment Date”) during the period beginning on, and
including, the applicable Optional Redemption Date and ending on, and including, the Scheduled Trading Day immediately before the
subsequent Optional Redemption Date (the “Optional Redemption Stock Payment Period”) or defer such Optional
Redemption Payment (or applicable portion thereof) to any future Optional Redemption Date selected by the Holder; and (ii) the
Company shall issue to the Holder, a number of validly issued, fully paid and Freely Tradable shares of Common Stock equal to the
quotient (rounded up to the closest whole number) obtained by dividing such Optional Redemption Payment (or any applicable portion
thereof) by the Market Stock Payment Price as of such Optional Redemption Stock Payment Date. The Holder must provide notice to
the Company of its election of any Optional Redemption Stock Payment Date and the applicable portion of the Optional Redemption
Payment it is electing to receive on each such Optional Redemption Stock Payment Date no later than 4:30 p.m. New York Time on
such Optional Redemption Stock Payment Date. Notwithstanding anything herein to the contrary, the Company will not have the right
to, and will not, make any Optional Redemption Payment (or any applicable portion thereof) in shares of Common Stock if the Equity
Conditions are not satisfied for each VWAP Trading Day occurring between the date that is five (5) Trading Days prior to the applicable
Optional Redemption Date and the applicable Optional Redemption Stock Payment Date, and such Optional Redemption Payment (or any
applicable portion thereof) shall instead be paid in cash in accordance with Section 5(A), unless such failure of the Equity
Conditions to be so satisfied is waived in writing by the Holder, which waiver may be granted or withheld by the Holder in its
sole discretion. The Company shall not pay any portion of the Optional Redemption Payment in shares of Common Stock unless the
Holder has designated an Optional Redemption Stock Payment Date for such portion. Any portion of the Optional Redemption Payment
not paid in shares of Common Stock because the Holder did not allocate such Optional Redemption Payment (or applicable portion
thereof) to a Scheduled Trading Day during the applicable Optional Redemption Stock Payment Period or because the Holder elected
to defer the receipt of such Optional Redemption Payment (or portion thereof) during the applicable Optional Redemption Stock Payment
Period will be automatically deferred to the next Optional Redemption Date or such future Optional Redemption Date as was elected
by the Holder, as applicable. Any such shares of Common Stock will be delivered by the Company to the Holder on or before the second
(2nd) Business Day following the applicable Optional Redemption Stock Payment Date.

 

4.04       Amendment
to Stock Reserve Under the Note. Section 8(E)(i) of the Note is hereby amended and restated in its entirety as follows:

 

“Stock
Reserve. At all times when this Note is outstanding, the Company will reserve, out of its authorized but unissued and unreserved
shares of Common Stock, a number of shares of Common Stock equal to one hundred fifty percent (150%) of (1) the then-outstanding
Principal Amount of the Note plus accrued and unpaid interest on the Note; divided by (2) the Floor Price (as of November 30, 2020
without regard to any future splits or stock combinations).”

 

    	 	7	 

     

    

 

4.05       Amendment
to Exercise Price of June Warrant. Section 1(b) of the June Warrant is hereby amended and restated in its entirety as follows:

 

“Exercise
Price. For purposes of this Warrant, “Exercise Price” means $0.37, subject to adjustment as provided herein.”

 

4.06       Amendment
to Exercise Price of March Warrant. Section 1(b) of the March Warrant is hereby amended and restated in its entirety as follows:

 

“Exercise
Price. For purposes of this Warrant, “Exercise Price” means $0.37, subject to adjustment as provided herein.”

 

4.07       Amendment
to Required Reserve Amount Under the SPA. Section 4(j) of the SPA is hereby amended and restated in its entirety as follows:

 

“Reservation
of Shares. So long as any of the Convertible Notes or Warrants remain outstanding, the Company shall take all action necessary
to at all times have authorized, and reserved for the purpose of issuance upon conversion or redemption of the Convertible Notes
and exercise of the Warrants, no less than (i) a number of shares of Common Stock equal to one hundred fifty percent (150%) of
(1) the then-outstanding Principal Amount of the Notes plus accrued and unpaid interest on the Note; divided by (2) the Floor Price
(as of November 30, 2020 without regard to any future splits or stock combinations), and (ii) fifteen million (15,000,000) shares
of Common Stock to satisfy the Company’s obligation to issue shares of Common Stock under the Warrants (collectively, the
 “Required Reserve Amount”); provided that at no time shall the number of shares of Common Stock reserved pursuant
to this Section 4(j) be reduced other than in connection with any stock combination, reverse stock split or other similar transaction
or proportionally in connection with any conversion and/or redemption, as applicable, of the Convertible Notes, or the exercise
of the Warrants. If at any time the number of shares of Common Stock authorized and reserved for issuance is not sufficient to
meet the Required Reserve Amount, the Company will promptly take all corporate action necessary to authorize and reserve a sufficient
number of shares, including, without limitation, calling a special meeting of stockholders to authorize additional shares to meet
the Company’s obligations pursuant to the Transaction Documents, in the case of an insufficient number of authorized shares,
obtain stockholder approval (if required) of an increase in such authorized number of shares, and voting the management shares
of the Company in favor of an increase in the authorized shares of the Company to ensure that the number of authorized shares is
sufficient to meet the Required Reserve Amount.”

 

ARTICLE
V

MISCELLANEOUS

 

5.01       Effect
of Agreement. (a) Each Transaction Document, as specifically supplemented and/or amended by this Agreement, is and shall continue
to be in full force and effect and is hereby in all respects ratified and confirmed. Without limiting the generality of the foregoing,
the Security Agreement and all of the collateral described therein does and shall continue to secure the payment of all amounts
due under the Note under the Transaction Documents, in each case as supplemented by this Agreement.

 

    	 	8	 

     

    

 

(b)       The
execution, delivery and effectiveness of this Agreement shall not, except as expressly provided herein, operate as a waiver of
any right, power or remedy of HT under any of the Transaction Documents, nor constitute a waiver of any provision of any of the
Transaction Documents.

 

5.02       Covenants.
Notwithstanding anything in the Transaction Documents to the contrary, the Company shall comply with all limitations, restrictions,
or prohibitions that would otherwise be effective or applicable under the Transaction Documents prior to or during the continuance
of any Event of Default, and any right or action of the Company set forth in the Transaction Documents that is conditioned on the
absence of any Event of Default may not be exercised or taken as a result of the Existing Events of Default.

 

5.03       Fees
and Expenses. The effectiveness of this Agreement shall be contingent upon the Company paying for legal fees and disbursements
of Latham & Watkins LLP, counsel to HT, in an amount of $11,500.

 

5.04       Disclosure
of Transactions. On or before 9:00 a.m., New York time, on the trading day after the date of the Agreement, the Company shall
file a Current Report on Form 8-K describing all the material terms of the transactions contemplated by the Agreement in the form
required by the Exchange Act and attaching the Agreement (including all attachments, the “8-K Filing”). From
and after the filing of the 8-K Filing, the Company shall have disclosed all material, non-public information (if any) provided
to HT by the Company or any of its Subsidiaries or any of their respective officers, directors, employees or agents. In addition,
effective upon the filing of the 8-K Filing, the Company acknowledges and agrees that any and all confidentiality or similar obligations
under any agreement, whether written or oral, between the Company, any of its Subsidiaries or any of their respective officers,
directors, affiliates, employees or agents, on the one hand, and HT or any of its affiliates, on the other hand, shall terminate.

 

5.05       Tolling
of Statute of Limitations. Each and every statute of limitations or other applicable law, rule, or regulation governing the
time by which HT must commence legal proceedings or otherwise take any action against the Company with respect to any breach or
default that exists on or prior to the expiration or termination of the Forbearance Termination Date and arises under or in respect
of the Transaction Documents shall, for each Existing Event of Default, be tolled during the period beginning on the date of occurrence
of such Existing Event of Default and ending on the Forbearance Termination Date. The Company agrees, to the fullest extent permitted
by law, not to include such period of time as a defense (whether equitable or legal) to any legal proceeding or other action by
HT in the exercise of its rights or remedies referred to in the immediately preceding sentence.

 

5.06       Section
Captions. Section captions used in this Agreement are for convenience of reference only, and shall not affect the construction
of this Agreement.

 

    	 	9	 

     

    

 

5.07       Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which shall
constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or
other electronic means shall be effective as delivery of a manually executed counterpart of this Agreement.

 

5.08       Governing
Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

 

 

[Signature Page Follows]

 

 

 

    	 	10	 

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be executed by their respective officers thereunto duly authorized, as of the
date first above written.

 

 

	COMPANY:	 	 	HT:	 
	 	 	 	 	 
	Pareteum Corporation	 	 	HT Investments SA, LLC	 
	 	 	 	 	 
	 	 	 	 	 
	By:	/s/ Alexander Korff	 	 	By:	/s/ Eric Helenek        	 
	 	Alexander Korff, Secretary	 	 	 	Eric Helenek, Authorized
        Signatory	 

  

 

 

 

 

 

 

[Signature Page to Forbearance Agreement]

     

     

    

 

Schedule I

 

Existing Events of
Defaults.

 

(i)       the
Company’s failure, as of October 2, 2020, to have caused either (i) the conversion or exchange of all shares of the Series
C Preferred Stock into shares of Common Stock or (ii) the extension of any mandatory redemption date, final maturity date or other
applicable repurchase obligation with respect to such Series C Preferred Stock by October 1, 2020, as required by Section 9(R)
of the Note;

 

(ii)       (x)
the Company’s failure, as of November 1, 2020, to have obtained the Requisite Stockholder Approval by October 31, 2020; and
(y) the Company’s failure to have used commercially reasonable efforts to obtain the Requisite Stockholder Approval by October
31, 2020, in each case as required by Section 11(a)(ix) of the Note and Section 4(R) of the SPA;

 

(iii)       the
Company’s failure to have timely filed all reports required to be filed with the SEC pursuant to the Exchange Act, as required
by Section 4(b) of the SPA;

 

(iv)       the
Company’s failure after October 31, 2020 to timely file its quarterly reports on Form 10-Q or its annual reports on Form
10-K with the Commission in the manner and within the time periods required by the Exchange Act, as required by Section 11(A)(xiv)
of the Note;

 

(v)       the
Company’s failure, as of November 1, 2020, to file restated financial statements with the Commission for (A) the fiscal year
ended December 31, 2018, (B) the quarter ended March 31, 2019 and (C) the quarter ended June 30, 2019, in each case on or prior
to October 31, 2020 and in compliance with all requirements under the Exchange Act, as required by Section 11(A)(xv) of the Note;
and

 

(vi)       the
Company’s failure under any Transaction Document to provide notice of the Events of Default set forth in clauses (i)-(v)
above prior to the date hereof.

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