Document:

Exhibit 10.1

 

THIS SUBSCRIPTION AGREEMENT IS EXECUTED
IN RELIANCE UPON THE EXEMPTION TO AN OFFERING OF SECURITIES IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS
DEFINED HEREIN) PURSUANT TO RULE 903 OF REGULATION S (“REGULATION S”) PROMULGATED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE “SECURITIES ACT”). THIS OFFERING IS BEING MADE ONLY TO NON-U.S. PERSONS PURSUANT TO RULE 903 OF REGULATION
S PROMULGATED UNDER THE SECURITIES ACT. NONE OF THE SECURITIES TO WHICH THIS SUBSCRIPTION RELATES HAVE BEEN REGISTERED UNDER THE
SECURITIES ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY,
EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE SECURITIES ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS
INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN ACCORDANCE WITH THE SECURITIES ACT.

_________________________

 

SUBSCRIPTION AGREEMENT

_________________________

 

THIS SUBSCRIPTION AGREEMENT (this
“Subscription”) has been executed by Pareteum Corporation, a corporation organized under the laws of the State of Delaware
(hereinafter referred to as the “Company”) and the purchaser set forth in the Omnibus Signature Page (the “Signature
Page”) attached hereto (the “Purchaser”) in connection with the private placement of up to a maximum of $20,000,000
of the Company’s newly-created Series C Redeemable Preferred Stock having the rights and preferences set forth on the form
of Certificate of Designations (the “Series C Certificate”) of Series C Redeemable Preferred Stock attached as Exhibit
B hereto (each, a “Share”, and collectively, the “Securities”). The Securities being subscribed for
pursuant to this Subscription have not been registered under the Securities Act. The offer of the Securities and, if this Subscription
is accepted by the Company, the sale of Securities, is being made in reliance upon Rule 903 of Regulation S promulgated under the
Securities Act. All dollar amounts in this Subscription are expressed in U.S. Dollars.

  

This Subscription is submitted by the undersigned
in accordance with and subject to the terms and conditions described in this Subscription, including the Exhibits and Schedules
hereto.

 

The terms and conditions of the Securities
offered in this offering of (“Offering”) are more completely described in the Series C Certificate attached hereto
as Exhibit B.

 

The Purchaser hereby
represents and warrants to, and agrees with the Company as follows:

 

ARTICLE 1

SUBSCRIPTION

 

		Subscription	

 

1.1       The
undersigned Purchaser hereby subscribes to purchase the amount of Securities set forth on the Signature Page attached hereto, at
an aggregate purchase price as set forth on the Signature Page (the “Subscription Funds”). The price per Share shall
be $47,619.05 on or prior to December 10, 2019 for the issuance and sale of the initial $5,000,000 of Securities (the “Initial
Securities”). Following such date the price per Share shall be $100,000.00 (the “Subsequent Securities”).

 

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Minimum
Subscription

 

1.2       The
Purchaser must subscribe for a minimum of $100,000 of Securities.

 

Method of
Payment

 

1.3       The Purchaser shall pay the Subscription
Funds by delivering good funds in United States Dollars by way of wire transfer of funds to Sichenzia Ross Ference LLP, the escrow
agent for this Offering (“Escrow Agent”). The wire transfer instructions are as set forth in Exhibit C, attached
hereto and made a part hereof.

 

Upon receipt of the
Subscription Funds and acceptance of this Subscription by the Company, the Company shall take up the Subscription Funds (the “Closing
Date”) and issue to the Purchaser such number of Securities represented by the amount of the accepted Subscription Funds.

 

The Purchaser acknowledges
that the subscription for Securities hereunder may be rejected in whole or in part by the Company in its sole discretion and for
any reason, notwithstanding prior receipt by the Purchaser of notice of acceptance of such subscription. The Company shall have
no obligation hereunder until the Company shall execute and deliver to the Purchaser an executed copy of this Subscription. If
this Subscription is rejected in whole, or the offering of Securities is terminated, all funds received from the Purchaser will
be returned without interest or offset, and this Subscription shall thereafter be of no further force or effect. If this Subscription
is rejected in part, the funds for the rejected portion of this subscription will be returned without interest or offset, and this
Subscription will continue in full force and effect to the extent this Subscription was accepted.

 

Term; Termination

 

1.4       All
funds received from the Purchaser will be held in a non-interest-bearing escrow account by the Escrow Agent, pending the earlier
of (a) instructions from the Company to disburse the funds, (b) completion of the Maximum Offering or (c) the end of the Offering
Period.

  

ARTICLE
2

REPRESENTATIONS
AND WARRANTIES OF THE PURCHASER

 

Representations
and Warranties

 

2.1       The
Purchaser represents and warrants to the Company, with the intent that the Company will rely thereon in accepting this Subscription,
that:

 

		(a)	Non-U.S. Purchaser. The Purchaser is outside the United States when receiving and executing
this Subscription Agreement and the Purchaser is not a U.S. Person as defined in Rule 902 of Regulation S promulgated under the
Securities Act and as set forth in Exhibit A attached hereto and made a part hereof;

 

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		(b)	Experience. The Purchaser is sufficiently experienced in financial and business matters
to be capable of evaluating the merits and risks of its investments, and to make an informed decision relating thereto, and to
protect its own interests in connection with the purchase of the Securities;

 

		(c)	Own Account. The Purchaser is purchasing the Securities as principal for its own account
and not for the account or benefit of, directly or indirectly, any U.S. Person. The Purchaser is purchasing the Securities for
investment purposes only and not with a view to resale or distribution and, in particular, it has no intention to distribute either
directly or indirectly any of the Securities in the United States or to U.S. Persons;

 

		(d)	Exemption. The Purchaser understands that none of the Securities have been registered under
the 1933 Act, or under any state securities or “blue sky” laws of any state of the United States, and, unless so registered,
may not be offered or sold in the United States or, directly or indirectly, to U.S. Persons, except in accordance with the provisions
of Regulation S, pursuant to an effective registration statement under the 1933 Act, or pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the 1933 Act and in each case in accordance with applicable state
and provincial securities laws;

 

		(e)	Importance of Representations. The Purchaser understands that the Securities are being offered
and sold to it in reliance on an exemption from the registration requirements of the Securities Act, and that the Company is relying
upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and understandings of the Purchaser
set forth herein in order to determine the applicability of such safe harbor and the suitability of the Purchaser to acquire the
Securities;

 

		(f)	No Registration. The Securities have not been registered under the Securities Act or any
state securities laws and may not be transferred, sold, assigned, hypothecated or otherwise disposed of unless registered under
the Securities Act and applicable state securities laws or unless an exemption from such registration is available. The Purchaser
represents and warrants and hereby agrees that all offers and sales of the Securities shall be made only pursuant to such registration
or to such exemption from registration;

 

		(g)	Information Concerning the Company and the Offering of the Securities. The Purchaser and
its purchaser representatives, if any, have carefully reviewed this Subscription and the Series C Certificate (the “Transaction
Documents”), and all exhibits and schedules thereto, including Schedule I, Risk Factors, and understand the information contained
therein, and further acknowledge that the Purchaser and its purchasers representatives, if any, have reviewed the Company’s
public documents filed with the Securities and Exchange Commission (the “Commission”) since January 1, 2018, including
that Current Report on Form 8-K filed as of October 21, 2019 (the “Restatement 8-K”) and have been given access and
the opportunity to examine all material contracts and documents relating to this Offering. In formulating a decision to invest
in the Securities, the Purchaser and its purchaser representatives, if any have relied solely on the Transaction Documents, including
all exhibits and schedules thereto.

 

		(h)	Risk. The Purchaser acknowledges that the purchase of the Securities involves a high degree
of risk, including the risks set forth in the SEC Documents and in Schedule I hereto, is aware of the risks and further acknowledges
that it can bear the economic risk of the Securities, including the total loss of its investment. The Purchaser has adequate means
of providing for its financial needs and foreseeable contingencies and has no need for liquidity of its investment in the Securities
for an indefinite period of time;

 

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		(i)	Reserved.

 

		(j)	No Recommendation or Endorsement. The Purchaser understands that no federal, state or other
regulatory authority has passed on or made any recommendation or endorsement of the Securities. Furthermore, the foregoing authorities
have not confirmed the accuracy or determined the adequacy of this Subscription. Any representation to the contrary is a criminal
offense;

 

		(k)	No Representation. In evaluating the suitability of an investment in the Company, the Purchaser
has not relied upon any representation or information (oral or written) other than as stated in this Subscription;

 

		(l)	No Tax, Legal, Etc. Advise. The Purchaser is not relying on the Company, or any of their
respective employees or agents with respect to the legal, tax, economic and related considerations of an investment in the Securities,
and the Purchaser has relied on the advice of, or has consulted with, only its own advisers;

 

		(m)	No Directed Selling Efforts. The Purchaser has not acquired the Securities as a result of,
and will not itself engage in, any “directed selling efforts” (as defined in Regulation S under the 1933 Act) in the
United States in respect of the Securities which would include any activities undertaken for the purpose of, or that could reasonably
be expected to have the effect of, conditioning the market in the United States for the resale of the Securities; provided, however,
that the Purchaser may sell or otherwise dispose of the Securities pursuant to registration thereof under the 1933 Act and any
applicable state and provincial securities laws or under an exemption from such registration requirements;

 

		(n)	No Plan or Scheme. Purchaser acknowledges that the statutory and regulatory basis for the
exemption from U.S registration requirements claimed for the offer of the Securities, although in technical compliance with Regulation
S, would not be available if the offering is part of a plan or scheme to evade the registration provisions of the 1933 Act or any
applicable state or provincial securities laws;

 

		(o)	Foreign Jurisdiction. Purchaser hereby represents that it has satisfied itself as to the
full observance of the laws of its jurisdiction in connection with any invitation to subscribe for the Securities or any use of
this Subscription Agreement, including: (a) the legal requirements within its jurisdiction for the purchase of the Securities;
(b) any foreign exchange restrictions applicable to such purchase; (c) any governmental or other consents that may need to be obtained;
and (d) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale or transfer
of the Securities. Such Purchaser’s subscription and payment for, and its continued beneficial ownership of the Securities,
will not violate any applicable securities or other laws of the Purchaser’s jurisdiction and

 

		(p)	Short Sales and Confidentiality after the Date Hereof. The Purchaser covenants that neither
it, nor any Affiliate acting on its behalf or pursuant to any understanding with it, will execute any “short sales”
as defined in Rule 200 of Regulation SHO under the Securities Exchange Act of 1934, as amended (“Short Sales”, which
shall not be deemed to include the location and/or reservation of borrowable shares of common stock) during the period commencing
at the time it first became aware of this Offering and ending at the time that the transactions contemplated by this Subscription
are first publicly announced.  The Purchaser covenants that until such time as the transactions contemplated by this Subscription
are publicly disclosed by the Company such Purchaser will maintain the confidentiality of the existence and terms of this Offering
and the information included in this Subscription.  The Purchaser acknowledges the positions of the Commission set forth in
Item 65, Section A, of the Manual of Publicly Available Telephone Interpretations, dated July 1997, compiled by the Office of Chief
Counsel, Division of Corporation Finance. Notwithstanding the foregoing, Purchaser makes no representation, warranty or covenant
hereby that it will not engage in Short Sales in the securities of the Company after the time that the Offering is publicly announced. 
Notwithstanding the foregoing, if Purchaser is a multi-managed investment vehicle whereby separate portfolio managers manage separate
portions of Purchaser’s assets and the portfolio managers have no direct knowledge of the investment decisions made by the
portfolio managers managing other portions of such Purchaser’s assets, the covenant set forth above shall only apply with
respect to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Securities
covered by this Subscription.

 

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Survival

 

2.2       The
representations and warranties of the Purchaser contained herein will be true at the date of execution of this Subscription by
the Purchaser and as of the Closing Date in all material respects as though such representations and warranties were made as of
such times and shall survive the Closing Date and the delivery of the Securities. The Purchaser agrees that it will notify and
supply corrective information to the Company immediately upon the occurrence of any change therein occurring prior to the Company’s
issuance of the Securities.

 

ARTICLE 3

REPRESENTATIONS AND
WARRANTIES OF THE COMPANY

 

3.1       The
Company, upon taking up and accepting this Subscription, represents and warrants in all material respects to the Purchaser, with
the intent that the Purchaser will rely thereon in making this Subscription, that:

 

		(a)	Legality. The Company has the requisite corporate power and
authority to take up and accept this Subscription and to issue, sell and deliver the Securities; this Subscription and the issuance,
sale and delivery of the Securities hereunder and the transactions contemplated hereby have been duly and validly authorized by
all necessary corporate action by the Company; this Subscription and the Securities have been duly and validly executed and delivered
by and on behalf of the Company, and are valid and binding agreements of the Company, enforceable in accordance with their respective
terms, except as enforceability may be limited by general equitable principles, bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium, or other laws affecting creditors’ rights generally;

 

		(b)	Proper Organization. The Company and its subsidiaries (“Subsidiaries”)
are corporations duly organized, validly existing and in good standing under the laws of their respective jurisdiction of incorporation
and are duly qualified as a foreign corporation in all jurisdictions where the failure to be so qualified would have a materially
adverse effect on their business, taken as whole;

 

		(c)	No Legal Proceedings. Except as disclosed in the Schedule
II hereto, to the knowledge of the Company, there is no action, suit or proceeding before or by any court or any governmental
agency or body, domestic or foreign, now pending against or affecting the Company or its Subsidiaries, or any of their properties
or assets, which might reasonably be expected to result in (i) a material adverse effect on the legality, validity or enforceability
of this Subscription or the Securities (collectively, the “Transaction Documents”), (ii) a material adverse effect
on the results of operations, assets, business, prospects or condition (financial or otherwise) of the Company and its Subsidiaries,
taken as a whole, or (iii) a material adverse effect on the Company’s ability to perform in any material respect on a timely
basis its obligations under any Transaction Document (any of (i), (ii) or (iii), a “Material Adverse Effect”);

 

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		(d)	Non-Default. Except as disclosed in Schedule III hereto,
to the knowledge of the Company, neither the Company nor any of its Subsidiaries is aware of any claimed default in the performance
or observance of any material obligation, agreement, covenant or condition contained in any indenture, mortgage, deed of trust
or other material instrument or agreement to which it is a party or by which it or its property may be bound, which default might
reasonably be expected to result in a Material Adverse Event;

 

		(e)	Non-Contravention. The acceptance of this Subscription and
the consummation of the issuance of the Securities and the transactions contemplated by this Subscription do not and will not conflict
with or result in a breach by the Company of any of the terms or provisions of, or constitute a default under the Certificate of
Incorporation or Bylaws of the Company, or any indenture, mortgage, deed of trust, or other material agreement or instrument to
which the Company or any of its Subsidiaries is a party or by which it or any of its properties or assets are bound, or any existing
applicable decrees, judgment or order of any court, federal, state or provincial regulatory body, administrative agency or other
domestic governmental body having jurisdiction over the Company or any of its properties or assets, which conflict or breach might
reasonably be expected to result in a Material Adverse Event; provided however that the entities party to the agreements set forth
in Schedule IV may claim a conflict or breach of such agreements;

 

		(f)	Filings, Consents and Approvals. The Company is not required
to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any court
or other federal, state, local or other governmental authority in connection with the execution, delivery and performance by the
Company of the Transaction Documents, other than the filing of Form D with the Commission and such filings as are required to be
made under applicable state securities laws;

 

		(g)	Issuance of the Securities. The Securities, when issued in
accordance with the terms of the Transaction Documents, will be validly issued, fully paid and nonassessable, free and clear of
all Liens imposed by the Company other than restrictions on transfer provided for in the Transaction Documents;

 

		(h)	Environmental Compliance. The Company and its Subsidiaries
are and have been in compliance in all material respects with all applicable federal, state and local laws, regulations and codes,
in each case relating to pollution, protection of the environment or public health and safety (collectively, “Environmental
Laws”). There is no civil, criminal or administrative judgment, action, suit, demand, claim, hearing, notice of violation,
investigation, proceeding, notice or demand letter pending or, to the knowledge of the Company, threatened against the Company
or its Subsidiaries pursuant to Environmental Laws which would reasonably be expected to have a Material Adverse Effect; and, to
the knowledge of the Company, there are no past or present events, conditions, circumstances, activities, practices, incidents,
agreements, actions or plans which may prevent compliance with, or which have given rise to or will give rise to liability under,
Environmental Laws, that would reasonably be expected to have a Material Adverse Effect;

 

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		(i)	No General Solicitation. Neither the Company nor any person
acting on behalf of the Company has offered or sold any of the Securities by any form of general solicitation or general advertising.
The Company has offered the Securities for sale only to the Purchasers and non- “U.S. person” within the meaning of
Rule 902 of Regulation S promulgated under the Securities Act; and

 

		(j)	Foreign Corrupt Practices. Neither the Company nor, to the
knowledge of the Company, any agent or other person acting on behalf of the Company, has (i) directly or indirectly, used any funds
for unlawful contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity,
(ii) made any unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic political
parties or campaigns from corporate funds, (iii) failed to disclose fully any contribution made by the Company (or made by any
person acting on its behalf of which the Company is aware) which is in violation of law, or (iv) violated in any material respect
any provision of the Foreign Corrupt Practices Act of 1977, as amended.

 

Survival

 

3.2       The
representations and warranties of the Company will be true and correct as of the Closing Date in all material respects and shall
survive the Closing Date and the delivery of the Securities.

 

ARTICLE 4

COVENANTS OF THE COMPANY

 

Covenants of the Company

 

4.1       The
Company covenants and agrees with the Purchaser that:

 

		(a)	Filings. The Company shall make all necessary filings in connection
with the sale of the Securities as required by the laws and regulations of all appropriate jurisdictions and securities exchanges,
including but not limited to “Form D”;

 

		(b)	Integration. The Company shall not sell, offer for sale or
solicit offers to buy or otherwise negotiate in respect of any security (as defined in Section 2 of the Securities Act) that would
be integrated with the offer or sale of the Securities in a manner that would require the registration under the Securities Act
of the sale of the Securities to the Purchasers; and

 

		(c)	Non-Public Information. Except with respect to the material
terms and conditions of the transactions contemplated by the Transaction Documents, the Company covenants and agrees that neither
it nor any other Person acting on its behalf, will provide any Purchaser or its agents or counsel with any information that the
Company believes constitutes material non-public information, unless prior thereto such Purchaser shall have executed a written
agreement regarding the confidentiality and use of such information. The Company understands and confirms that each Purchaser shall
be relying on the foregoing covenant in effecting transactions in securities of the Company.

 

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Piggy-back Registration
Rights

 

4.2(a)       If
at any time the Company has registered or has determined to register any of its securities for its own account or for the account
of other security holders of the Company on any registration form (other than Form S-4 or S-8) which permits the inclusion
of the Registrable Securities (a “Piggyback Registration”), the Company will give holders of the Securities (the “Holders”)
written notice thereof promptly (but in no event less than 15 days prior to the anticipated filing date) and, subject to Section 4.2(b),
shall include in such registration all Registrable Securities requested to be included therein pursuant to the written request
of one or more Holders received within 10 days after delivery of the Company’s notice.  If a Piggyback Registration
is initiated as a primary underwritten offering on behalf of the Company, and the managing underwriters advise the Company and
the Holders that in their reasonable opinion the number of shares of common stock, par value $0.00001 per share of the Company,
and other Registrable Securities proposed to be included in such registration exceeds the Maximum Number of Shares, the Company
shall include in such registration:  (i) first, the number of shares of common stock that the Company proposes to sell;
and (ii) second, the number of shares of common stock and other Registrable Securities requested to be included therein by
holders of common stock and other Registrable Securities, including Holders who have provided notice in accordance with this Section 4.
2(a), pro rata among all such holders on the basis of the number of shares of Common Stock and other Registrable Securities requested
to be included therein by all such holders or as such holders and the Company may otherwise agree. “Registrable Securities”
means the common stock issuable upon conversion of the Securities, if the Securities are amended to add a conversion feature or
exchanged into common stock or securities exercisable into or convertible into common stock.

 

4.2(b)       If
a Piggyback Registration is initiated as an underwritten registration on behalf of a holder of shares of common stock other than
the Holders, and the managing underwriters advise the Company that in their reasonable opinion the number of shares of common stock
and other Registrable Securities proposed to be included in such registration exceeds the Maximum Number of Shares, then the Company
shall include in such registration:  (i) first, the number of shares of common stock requested to be included therein
by the holder(s) requesting such registration; (ii) second, the number of shares of common stock and other Registrable
Securities requested to be included therein by other holders of shares of common stock and other Registrable Securities, including
the Holders (if the Holders have elected to include Registrable Securities in such Piggyback Registration), pro rata among such
holders on the basis of the number of shares of common stock and other Registrable Securities requested to be included therein
by such holders or as such holders and the Company may otherwise agree; and (iii) third, the number of shares of common stock
that the Company proposes to sell. “Maximum Number of Shares” means the number of shares of common stock (and other
Registrable Securities) proposed to be included in a Registration Statement that can be sold in an underwritten offering without
materially delaying or jeopardizing the success of the subject offering (including the offering price per Share).

 

ARTICLE 5

ISSUANCE OF SECURITIES

 

5.1       As
soon as practicable after the Closing Date, the Company shall issue and deliver, or shall cause the issuance and delivery of, the
Securities in the name or names specified by the Purchaser purchased in the Offering. Such Securities shall bear a legend in substantially
the following form:

 

“THESE SECURITIES
WERE ISSUED IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED HEREIN) PURSUANT TO REGULATION S UNDER THE
UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”). ACCORDINGLY, NONE OF THE SECURITIES TO WHICH THIS
CERTIFICATE RELATES HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE
MAY BE OFFERED OR SOLD IN THE UNITED STATES (AS DEFINED HEREIN) OR, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS (AS DEFINED HEREIN)
EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION,
HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN ACCORDANCE WITH THE 1933 ACT. “UNITED STATES"
AND "U.S. PERSON" ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.”

 

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5.2       The
legend(s) set forth above shall be removed, and the Company shall issue a certificate without such legend to the transferee of
the Securities represented thereby, if, unless otherwise required by state securities laws, (i) such Securities have been sold
under an effective registration statement under the Securities Act, (ii) such Securities have been sold pursuant to a valid exemption
under the Securities Act or (iii) such legend is not required under applicable requirements of the Securities Act (including judicial
interpretations and pronouncements issued by the staff of the Commission). The Company may not make any notation on its records
or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Article 5.

 

ARTICLE 6

GUARANTEE

 

6.1       So
long as the Initial Securities are outstanding, and except as set forth in this Article 6, Pareteum Europe B.V . (the “Guarantor”)
hereby guarantees to the Purchaser of the Initial Securities and its transferees the prompt and complete payment when due of the
divididends and redemption price set forth in the Series C Certificate (the “Obligations”). The maximum liability of
the Guarantor hereunder and under any other Transaction Document shall in no event exceed the amount which can be guaranteed by
the Guarantor under applicable federal, state and foreign laws, including laws relating to the insolvency of debtors, fraudulent
conveyance or transfer or laws affecting the rights of creditors generally.

 

6.2       Payment
of any and all of the Obligations shall be subordinate to and subject in right and time of payment, to the prior indefeasible payment
in full of all secured debt the Company or Guarantor may incur.

 

6.3       Guarantor
will be released from all liability hereunder concurrently with the indefeasible repayment in full of all amounts owed under the
Series C Certificate.

 

6.4       Purchaser
shall cause any transferee to agree in writing to the terms of this Article 6 as a condition to such transferee’s acquisition
of the Initial Securities.

 

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ARTICLE 7

CLOSING

 

Closing shall be effected
through the delivery of the Subscription Funds by the Escrow Agent to the Company and the delivery of the Securities purchased
in the Offering by the Company to the Purchaser (or the Purchaser’s representative), together with a copy of this Subscription
Agreement, duly executed.

 

ARTICLE 8

FEES

 

As compensation for
services rendered, the Company shall pay to Hoving & Partners S.A. or its designees (“Hoving”) the certain fees
set forth as follows (the “Fees”), such Fees to be paid cash by wire transfer of immediately available funds to an
account or accounts designated by Hoving: (i) $300,000 upon the sale of the Initial Securities; (ii) $300,000 upon the consummation
by the Company of a debt financing transaction with net proceeds to the Company of no less than $10,000,000 (the “Future
Transaction”), provided that the payment to Hoving by the Company of such fees does not violate the terms or conditions of
the Future Transaction; and (iii) an amount equal five percent (5%) of the gross proceeds received from the sale of Subsequent
Securities.

 

ARTICLE 9

GENERAL PROVISIONS

 

Governing Law

 

9.1       The
Transaction Documents will be governed by and construed under the laws of the State of New York as applied to agreements among
New York residents entered into and to be performed entirely within New York. The parties hereto (1) agree that any legal suit,
action or proceeding arising out of or relating to this Subscription will be instituted exclusively in New York State Supreme Court,
County of New York, or in the United States District Court for the Southern District of New York, (2) waive any objection which
the parties may have now or hereafter to the venue of any such suit, action or proceeding, and (3) irrevocably consent to the jurisdiction
of the New York State Supreme Court, County of New York, and the United States District Court for the Southern District of New
York in any such suit, action or proceeding. Each of the parties hereto further agrees to accept and acknowledge service of any
and all process which may be served in any such suit, action or proceeding in the New York State Supreme Court, County of New York,
or in the United States District Court for the Southern District of New York and agrees that service of process upon it mailed
by certified mail to its address will be deemed in every respect effective service of process upon it, in any such suit, action
or proceeding. If either party shall commence an action or proceeding to enforce any provisions of the Transaction Documents, then,
in addition to the obligations of the Company under Section 4.9, the prevailing party in such action, suit or proceeding shall
be reimbursed by the other party for its reasonable attorneys’ fees and other costs and expenses incurred with the investigation,
preparation and prosecution of such action or proceeding. THE PARTIES HERETO AGREE TO WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL
OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS SUBSCRIPTION OR ANY DOCUMENT OR AGREEMENT CONTEMPLATED HEREBY.

 

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Successors and Assigns

 

9.2       This
Subscription shall inure to the benefit of and be binding on the respective successors and assigns of the parties hereto.

 

Execution by Counterparts and Facsimile

 

9.3       This
Subscription may be executed in counterparts and by facsimile, each of which when executed by any party will be deemed to be an
original and all of which counterparts will together constitute one and the same Subscription.

 

Independent Legal Advice

 

9.4       The
parties hereto acknowledge that they have each received independent legal advice with respect to the terms of this Subscription
and the transactions contemplated herein or have knowingly and willingly elected not to do so.

 

Severability

 

9.5       If
any term, provision, covenant or restriction of this Subscription is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full
force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially
reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated
by such term, provision, covenant or restriction.

 

[Remainder of page intentionally
left blank]

 

    11

     

    

 

SIGNATURE PAGE TO

SUBSCRIPTION AGREEMENT

FOR THE PURCHASE OF SHARES OF PARETEUM CORPORATION’S

SERIES C REDEEMABLE PREFERRED STOCK

 

 

Purchaser hereby elects to subscribe
under the Subscription Agreement for a total of           Shares, at a price per Share of $           and an aggregate purchase price of $                . 

 

Purchaser’s signature below constitutes
execution of the Subscription Agreement. 

  

Date:                               ,
2019.

 

If the purchaser is an INDIVIDUAL, and
if purchased as JOINT TENANTS, as TENANTS IN COMMON, or as COMMUNITY PROPERTY:

 

	 	 	 
	Print Purchaser Name	 	Print Co-Purchaser Name (if applicable)
	 	 	 
	 	 	 
	Signature of Purchaser	 	Signature of Co-Purchaser (if applicable)
	 	 	 
	 	 	 
	Address	 	 
	 	 	 
	 	 	 
	If the purchaser is a PARTNERSHIP, CORPORATION, LIMITED LIABILITY COMPANY or TRUST:
	 	 	 
	 	 	 
	 	 	Country of Organization
	 	 	 	 	 
	By:	 	 	By:	 
	 	Name:	 	 	Name:
	 	Title:	 	 	Title:
	 	 	 
	 	 	 
	Address	 	 

 

PLEASE FAX OR E-MAIL A COPY OF THE COMPLETED
AND EXECUTED SUBSCRIPTION AGREEMENT TO:

 

Attn: Darrin Ocasio

Sichenzia Ross Ference LLP

1185 Avenue of the Americas, 37th Floor

New York, NY 10036

dmocasio@srf.law

 

SIGNATURE PAGE TO

SUBSCRIPTION AGREEMENT

 

    1

     

    

 

Pareteum Corporation’s and Pareteum
Europe B.V.’s signatures below constitutes execution of the Subscription Agreement. 

  

	ACCEPTED AND AGREED TO	 
	this ___ day of ___________, 2019.	 
	 	 
	PARETEUM CORPORATION	 
	 	 
	 	 
	By:	       	 
	 	Name:	 
	 	Title:	 
	 	 
	 	 
	 	 
	 	 
	ACCEPTED AND AGREED TO	 
	this ___ day of ___________, 2019, with	 
	respect to Article VI only.	 
	 	 
	PARETEUM EUROPE. B.V.	 
	 	 
	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

    2Exhibit

Exhibit 10.1

AMENDED AND RESTATED DIRECTOR DESIGNATION AGREEMENT

This AMENDED AND RESTATED DIRECTOR DESIGNATION AGREEMENT (this “Agreement”), executed this 12th day of December, 2019 to be effective as of the 12th day of December, 2019, amends and restates that certain Amended and Restated Director Designation Agreement dated as of January 28, 2015, is made by and between Kaiser Aluminum Corporation, a Delaware corporation (the “Company”), and the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union, AFL-CIO, CLC (formerly known as the United Steelworkers of America, AFL-CIO, CLC) (the “Union”).

RECITALS

WHEREAS, in February 2002, the Company, along with Kaiser Aluminum & Chemical Corporation, a wholly owned subsidiary of the Company (“KACC”), and certain of KACC’s wholly owned subsidiaries, filed for protection under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”);

WHEREAS, in connection with their reorganization under the Bankruptcy Code, the Company and KACC had negotiations with their key constituencies regarding the terms of their reorganization and, as part of such negotiations, KACC and the Union reached an agreement in principle with respect to certain modifications to certain labor agreements between KACC and the Union, the terms and conditions of which are reflected in the Final Company Proposal to the USWA under 11 U.S.C. §1113 and §1114, dated January 27, 2004 and approved by the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) in a final order dated March 22, 2004 (the “Union Settlement Agreement”);

WHEREAS, pursuant to the Union Settlement Agreement, all plans, funds and programs providing retiree benefits (as defined by Section 1114(a) of the Bankruptcy Code) and maintained or established by KACC prior to February 12, 2002 were to be terminated, and KACC and the Union agreed to establish a voluntary employee benefit association trust (“VEBA”), with two trustees appointed by each of KACC and the Union, to provide, among other things, benefits for certain eligible retirees of KACC represented by the Union and other unions and their surviving spouses and eligible dependents, to which KACC agreed to contribute a portion of its equity upon KACC’s emergence from the protection of chapter 11 of the Bankruptcy Code;

WHEREAS, pursuant to the Union Settlement Agreement, the Union was granted certain rights with respect to the composition of the board of directors of reorganized KACC and certain committees thereof;

WHEREAS, under the Second Amended Joint Plan of Reorganization of the Company, KACC and Certain of Their Debtor Affiliates, as modified, filed pursuant to Section 1121(a) of the Bankruptcy Code and confirmed by an order of the Bankruptcy Court entered on February 6, 2006 which confirmation was affirmed by an order of the United States District Court for the District of Delaware entered on May 11, 2006 (the “Plan”), the Company (rather than KACC, as 

was contemplated by the Union Settlement Agreement) is the ultimate parent company in the reorganization of the Company, KACC and certain of their debtor affiliates;

WHEREAS, pursuant to the Plan, the Company contributed, among other things, 11,439,900 shares of the common stock, par value $0.01 per share, of the Company (“Common Stock”) to the VEBA, representing 57.2% of the issued and outstanding shares of the Common Stock as of the effective date of the Plan (the “Effective Date”);

WHEREAS, pursuant to the Union Settlement Agreement and the Plan, (a) the number of directors comprising the board of directors of the Company (the “Board”) as of the Effective Date was fixed at 10 and (b) the Union designated four individuals to serve on the Board commencing as of the Effective Date (the “Initial Union Directors”);

WHEREAS, pursuant to the Plan, the Company adopted an amended and restated certificate of incorporation (as adopted and as amended from time to time, the “Charter”) and amended and restated bylaws (as adopted and as amended from time to time, the “Bylaws”) which provide, among other things, that (a) stockholders may elect directors at, and only at, an annual meeting of stockholders and nominations of persons for election as directors may be made only at an annual meeting of stockholders and may be made by or at the direction of the Board or a committee thereof or by any stockholder that is a stockholder of record at the time it gives notice of such nomination, who is entitled to vote for the election of directors at such annual meeting, and who complies with the procedures with respect to the nomination of directors set forth in the Bylaws, (b) vacancies on the Board will be filled solely by the remaining directors, (c) any newly created directorship will be filled solely by the directors then in office, and (d) the Board is entitled to designate committees and select the members thereof;

WHEREAS, on or promptly after the Effective Date, the Board adopted corporate governance guidelines addressing, among other things, the selection of directors, the composition of the Board and the creation and operation of Board committees (as so adopted, and as amended from time to time by the Board in good faith and to the extent either required by applicable law or Applicable Listing Requirements (as defined below) or consistent with recognized corporate governance best practices among U.S. corporations having publicly-held equity securities that are traded or quoted on a national securities exchange or association or quotation system, the “Corporate Governance Guidelines”);

WHEREAS, on or promptly after the Effective Date, the Board established a Nominating and Corporate Governance Committee (the “Nominating Committee”) for the purposes of (a) establishing criteria to be utilized by it in assessing whether a candidate for a position on the Board has appropriate skills and experience, (b) identifying individuals qualified to become members of the Board, including without limitation evaluating candidates submitted to the Company by its stockholders, (c) recommending candidates to fill vacancies and newly-created positions on the Board, (d) recommending director nominees for the election by stockholders at the annual meetings of stockholders, and (e) developing and recommending to the Board corporate governance principles applicable to the Company;

WHEREAS, promptly after its formation, the Nominating Committee  adopted certain policies establishing criteria to be utilized by it in assessing whether a director candidate has 

appropriate skills and experience, which policies are applicable to all director candidates including any candidate designated by the Union in accordance with this Agreement (as so adopted, and as amended from time to time by the Nominating Committee in good faith and to the extent either required by applicable law or Applicable Listing Requirements or consistent with recognized corporate governance best practices among U.S. corporations having publicly-held equity securities that are traded or quoted on a national securities exchange or association or quotation system, the “Director Candidate Policies”);

WHEREAS, in addition to establishing the Nominating Committee, the Board established an Executive Committee (the “Executive Committee”) and an Audit Committee (the “Audit Committee”), in each case on or promptly after the Effective Date; and

WHEREAS, the Company and the Union desire to definitively document their understanding with respect to the continuing right of the Union to nominate individuals to serve on the Board, which understanding is predicated in part on the foregoing description of the Charter and Bylaws and the various actions taken by the Board and the Nominating Committee described above.

AGREEMENT

NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties hereto agree as follows:

Article I.  Preliminary Acknowledgement

Each of the Company and the Union acknowledge that each director of the Company owes his or her fiduciary duties to the Company and all of its stockholders.

Article II.  Right of Union to Designate Directors

2.1    General.  The Union shall at all times prior to the termination of this Agreement pursuant to Article VI hereof have the right, subject in all cases to the procedures set forth in this Article II and the exercise by the directors of the Company of their fiduciary duties, to designate individuals to serve on the Board, and this Agreement sets forth the exclusive rights of the Union with respect thereto.  For purposes of this Agreement, the term “Union Director” means individuals serving on the Board that have been designated by the Union in accordance with the procedures set forth in this Agreement.

2.2    Election at Annual Meetings of Stockholders.  In connection with each annual meeting of the Company’s stockholders, the Union shall have the right to designate as candidates to be submitted to stockholders of the Company for election at such annual meeting that minimum number of candidates necessary to ensure that, assuming (x) such candidates are included in the slate of director candidates recommended by the Board in the Company’s proxy statement relating to such annual meeting and (y) the stockholders of the Company elect each candidate so included, at least 40% of the members of the Board immediately following such election are Union Directors subject to the proviso set forth in subsection (e) below, all in accordance with the following procedures (subject to Section 2.4):

		
	(a)
	The Union shall timely deliver to the Nominating Committee a written notice (an “Annual Meeting Candidate Notice”) specifying, with respect to each candidate designated by the Union, the following information (the “Required Information”):  (i) his or her name, age, business and residential address and principal occupation or employment; (ii) the number of shares of the Common Stock beneficially owned by him or her; (iii) a resume or similar document detailing his or her personal and professional experiences and accomplishments; and (iv) all other information relating to the candidate that would be required to be disclosed in a proxy statement or other filing made in connection with the solicitation of proxies for the election of directors pursuant to (A) the Securities Exchange Act of 1934, as amended (the “Exchange Act”), (B) the rules of the Securities and Exchange Commission (the “SEC”), or (C) the Marketplace Rules or other applicable criteria of the National Association of Securities Dealers, Inc. or, if securities of the Company are then principally traded or quoted on a national securities exchange or association or quotation system other than The Nasdaq Stock Market, Inc., such national securities exchange or association or quotation system (the “Applicable Listing Requirements”); provided, however, that, if a Union Director's term on the Board expires at the related annual meeting of stockholders and the Union desires to designate such Union Director as a candidate for re-election at such annual meeting, the Annual Meeting Candidate Notice need only so indicate and include the name of such Union Director.  In addition, such Annual Meeting Candidate Notice must be accompanied by the written consent of each director candidate named therein to serve as a member of the Board and any committee of the Board to which he or she may be assigned to serve if elected.

		
	(b)
	Where the date of the Company’s annual meeting of stockholders does not change by more than 30 calendar days from the date of the previous year’s annual meeting, the Annual Meeting Candidate Notice shall be timely if, and only if, it is received by the Nominating Committee not less than 120, nor more than 150, calendar days before the anniversary of the date that the Company’s proxy statement was first mailed to stockholders in connection with its previous year’s annual meeting.  Where there was no annual meeting of stockholders in the previous year or where the date of the Company’s annual meeting of stockholders changes by more than 30 calendar days from the date of the previous year’s annual meeting, the Annual Meeting Candidate Notice shall be timely if, and only if, it is received by the Nominating Committee no later than the close of business on the 10th calendar day following the first day on which the date of the upcoming annual meeting is publicly disclosed in a press release reported by the Dow Jones News Service, Associated Press or comparable national news service or in a document filed by the Company with the SEC pursuant to the Exchange Act or furnished by the Company to stockholders.  The Company shall, as promptly as practicable after any formal action by the Board to fix the date of the annual meeting of stockholders next following such action, deliver to the Union a written notice setting forth the date fixed for such annual meeting and identifying any Union Directors whose terms are expiring at such annual meeting.

		
	(c)
	The Nominating Committee shall evaluate each director candidate identified in the Annual Meeting Candidate Notice and determine whether such candidate satisfies the qualifications contemplated by Article IV hereof (with such determination to be made in good faith and not to be unreasonably made, withheld or delayed).  If the Nominating Committee so determines that such candidate satisfies such qualifications, then, unless otherwise required by its fiduciary duties (as determined in good faith by the Nominating Committee after consultation with legal counsel), the Nominating Committee shall recommend such director candidate to the Board for inclusion in the slate of directors recommended by the Board in the Company's proxy statement relating to the annual meeting.

		
	(d)
	The Board shall, unless otherwise required by its fiduciary duties (as determined in good faith by the Board after consultation with legal counsel), accept the recommendation of the Nominating Committee with respect to each director candidate identified in the Annual Meeting Candidate Notice and direct that such director candidate be included in the slate of directors recommended by the Board in the Company’s proxy statement relating to the annual meeting.

		
	(e)
	Notwithstanding any other provision in this Agreement to the contrary, the Company shall have the right to increase the size of the board from 10 to 12 members without increasing the Union’s nominating rights set forth above.  For the avoidance of doubt, the Union’s nomination rights set forth above will remain unchanged if the size of the Board is 10 or less or greater than 12.

		
	(f)
	The Company and the Union shall meet not less than annually to discuss (i) the Company’s most recent assessment of strategic board skills, experience, attributes of all Directors, (ii) desired strategic board skills, experience, attributes and priorities in the context of anticipated vacancies and upcoming elections and (iii) each Union nominated Director and contemplated future Union nominees in light of these considerations.  Notwithstanding any other provision in this Agreement to the contrary, the Union  (i) shall reasonably bear in mind the Company’s assessment and desired strategic board skills, experience, attributes and priorities when nominating a candidate and (ii) shall not renominate any Union nominated Director without the prior approval of the Company.

2.3    Vacancies and Newly Created Directorships.  In the event of (x) a vacancy on the Board resulting from the death, resignation, disqualification or removal of a Union Director (a “Vacancy”) or (y) newly created directorships resulting from an increase in the number of directors of the Company (“Newly Created Directorships”), the Union shall have the right to designate (i) in the case of a Vacancy, the individual to fill such Vacancy and (ii) in the case of Newly Created Directorships, the minimum number of individuals to fill such Newly Created Directorships necessary to ensure that at least 40% of the members of the Board immediately following the filling of such Newly Created Directorships are Union Directors, all in accordance with the following procedures (subject to Section 2.4):

		
	(a)
	The Union shall deliver to the Nominating Committee a written notice (the “Candidate Notice”) specifying, with respect to each candidate designated to fill 

the Vacancy or Newly Created Directorships, as applicable, the Required Information.  Such Candidate Notice must be accompanied by the written consent of each director candidate named therein to serve as a member of the Board and any committee of the Board to which he or she may be assigned to serve if elected.

		
	(b)
	The Nominating Committee shall evaluate each director candidate identified in the Candidate Notice and determine whether such candidate satisfies the qualifications contemplated by Article IV hereof (with such determination to be made in good faith and not to be unreasonably made, withheld or delayed).  If the Nominating Committee so determines that such candidate satisfies such qualifications, then, unless otherwise required by its fiduciary duties (as determined in good faith by the Nominating Committee after consultation with legal counsel), the Nominating Committee shall recommend to the Board that it fill the Vacancy or Newly Created Directorship, as applicable, with such candidate.

		
	(c)
	The Board shall, unless otherwise required by its fiduciary duties (as determined in good faith by the Board after consultation with legal counsel), accept the recommendation of the Nominating Committee with respect to the director candidate identified in the Candidate Notice and fill the Vacancy or Newly Created Directorship, as applicable, with such candidate.

		
	(d)
	Notwithstanding any other provision in this Agreement to the contrary, when nominating a candidate, the Union shall reasonably bear in mind the Company’s most recent assessment and the strategic board skills, experience, attributes and priorities identified by the Company pursuant to the terms of Section 2.2(f) herein as priorities for all Board nominees and Directors.

2.4    Modifications to Procedures.  In the event that the procedures set forth in Section 2.2 or Section 2.3 are no longer consistent with (a) applicable law, including without limitation the rules of the SEC, or Applicable Listing Requirements, (b) the Charter as a result of any amendment thereto, or (c) the Bylaws as a result of (i) any amendment thereto adopted by the stockholders of the Company or (ii) any amendment thereto adopted by the Board but not stockholders in order to reflect changes in (A) applicable law, including without limitation the rules of the SEC, or (B) Applicable Listing Requirements, then the Company and the Union will negotiate in good faith to modify the procedures set forth in Section 2.2 or Section 2.3, as applicable, so as to effect the original intent of the parties as closely as possible in an acceptable manner to permit the Union to exercise its rights under Section 2.1.

Article III.  Union Directors to Serve on Board Committees

So long as the Board maintains any of the following committees, each such committee shall, unless otherwise required by the Board’s fiduciary duties (as determined in good faith by the Board after consultation with legal counsel), include at least one Union Director (provided at least one Union Director is qualified to serve thereon as determined by the Board, with such 

determination to be made in good faith and not to be unreasonably made, withheld or delayed):  (a) Audit Committee; (b) Executive Committee; and (c) Nominating Committee.

Article IV.  Qualifications of Union Directors

Each individual designated by the Union pursuant to Article II hereof to serve as a director of the Company must satisfy (a) the applicable independence criteria contained in the Applicable Listing Requirements, (b) the qualifications to serve as a director of the Company as set forth in the Corporate Governance Guidelines and the Director Candidates Policies, and (c) any other qualifications to serve as a director of the Company imposed by applicable law, including without limitation the rules of the SEC (in each case as such criteria and qualifications shall be interpreted by the Nominating Committee reasonably and in good faith).  In addition, no such individual may be at the time of his or her designation by the Union to serve as a director of the Company or his or her election as a Union Director, and no such individual may become while serving as a Union Director, an officer, employee, director or member of the Union or any of its locals or affiliated organizations (any such officer, employee, director or member, a “Union Associate”).  The Company and the Union agree and acknowledge that an individual shall not fail to satisfy the criteria and qualifications set forth in the first sentence of this Article IV solely because such individual was a Union Associate prior to the time of his or her designation by the Union to serve as a director of the Company; it being understood that unusual facts and circumstances concerning a particular Union Associate could dictate otherwise.

Article V.  Independence of Board

A majority of the members of the Board shall satisfy the independence criteria contained in the Applicable Listing Requirements, as such requirements shall be interpreted by the Board reasonably and in good faith.

Article VI.  Termination

This Agreement shall terminate in its entirety, and the Union shall have no further rights hereunder, on December 31, 2025, unless the Company and the Union shall otherwise agree in writing.  Upon the termination of this Agreement, the Union shall cause each Union Director to submit his or her resignation to the Board, which submission the Board may accept or reject in its discretion.

Article VII.  Miscellaneous

7.1    Notices.  All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given or made by delivery in person, by overnight courier, by facsimile transmission, by electronic transmission or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties at the following addresses (or at such other address for a party specified in a notice given in accordance with this Section 7.1):

(a)    If to the Company:

Kaiser Aluminum Corporation
27422 Portola Parkway, Suite 200
Foothill Ranch, California 92610
Facsimile:  949-614-1930
Attention:  Corporate Secretary
E-mail:  cherrie.tsai@kaiseraluminum.com

with a copy to:

Kaiser Aluminum Corporation
27422 Portola Parkway, Suite 200
Foothill Ranch, California 92610
Facsimile:  949-614-1930
Attention:  EVP - Legal, Compliance and Human Resources
E-mail:  john.donnan@kaiseraluminum.com
with a copy to:

Jones Day
2727 N. Harwood Street
Dallas, Texas 75223
Facsimile:  214-969-5100
Attention:  Troy B. Lewis, Esq.
E-mail:  tblewis@jonesday.com

(b)    If to the Union:

United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union, AFL-CIO, CLC
60 Boulevard of the Allies, Suite 807
Pittsburgh, Pennsylvania 15222
Facsimile:  412-562-2429
Attention:  General Counsel
E-mail:  djury@usw.org

with a copy to:

United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union, AFL-CIO, CLC
International President
60  Boulevard of the Allies, 12th Floor
Pittsburgh, Pennsylvania 15222
Facsimile:  412-562-2429
Attention:  Thomas M. Conway
E-mail:  tconway@usw.org

All such notices and communications shall be deemed to have been delivered or given upon receipt, if delivered personally, by electronic transmission or by overnight courier; when receipt is acknowledged, if sent by facsimile transmission and three Business Days after being deposited in the mail, if mailed.

7.2    Assignment.  Neither of the parties to this Agreement shall assign or delegate any of their respective rights or obligations under this Agreement without the prior written consent of the other party hereto.

7.3    No Third-Party Beneficiaries.  Except as expressly set forth herein, this Agreement shall be binding upon and inure solely to the benefit of the parties hereto and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other person any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

7.4    Entire Agreement.  This Agreement constitutes the entire agreement of the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and undertakings, both written and oral, between the parties with respect to the subject matter hereof.

7.5    Amendment and Waiver.  This Agreement may not be amended or modified or any provision hereof waived except by an instrument in writing signed by both of the parties to this Agreement.

7.6    Counterparts.  This Agreement may be executed by facsimile signature and in any number of counterparts, each such counterpart to be deemed an original and all such counterparts, taken together, to constitute one instrument.

7.7    Severability.  If any term or other provision of this Agreement is invalid, illegal or unenforceable under any law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect.  Upon a determination that any term or other provision is invalid, illegal or unenforceable, the parties hereto shall negotiate in good faith to replace the invalid, illegal or unenforceable provisions with valid, legal and enforceable provisions the effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

7.8    Governing Law.  This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to the principles of conflict of laws thereof.

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IN WITNESS WHEREOF, this Agreement has been duly executed and delivered by the duly authorized officers of each of the Company and the Union as of the date first above written.	
					
	 
	 
	 
	 
	 

	 
	 
	KAISER ALUMINUM CORPORATION

	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	By:
	 
	/s/ John M. Donnan

	 
	 
	 
	 
	John M. Donnan, Executive Vice President - Legal, Compliance and Human Resources

	 
	 
	 
	 
	 

	 
	 
	UNITED STEEL, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial AND Service Workers International Union, AFL-CIO, CLC

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	By:
	 
	/s/ Thomas M. Conway

	 
	 
	 
	 
	Thomas M. Conway, International President

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