Document:

Exhibit 10.1

 

1185 Avenue of the Americas, 2nd Floor,
New York, NY 10036

 

December 8, 2020

 

High Trail Investments SA LLC

221 River Street, 9th Floor

Hoboken, NJ 07030

Attention: Eric Helenek

 

Re:       Pareteum
Corporation Financing

 

Ladies and Gentlemen:

 

This letter agreement pertains to 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, and as further amended by that certain Forbearance Agreement, dated as of November 30,
2020 (the “Forbearance Agreement”), the “Note”), made by Pareteum Corporation, a Delaware
corporation (the “Company”), to High Trail Investments SA LLC (“HT”). All capitalized terms
used in this letter agreement, but not defined herein, have the meanings ascribed to such terms in the Forbearance Agreement or,
if not defined therein, the Note.

 

HT and the Company hereby agree as follows:

 

1.       Shares
in Lieu of December 1, 2020 Cash Interest Payment. HT hereby agrees to accept, in full satisfaction of the Company’s
obligation to make the payment of Stated Interest on the December 1, 2020 Interest Payment Date, 1,093,750 shares of Common Stock
(the “Shares in Lieu of Interest Payment”). The Company shall cause its transfer agent to credit such shares
to HT’s account with The Depositary Trust Company on the date hereof.

 

2.       Stock
Exchange Limitation. The parties hereby agree that Section 1(f)(2) of each of the March Warrant and the June Warrant shall
be amended to remove Section 1(f)(2) in its entirety.

 

3.       Securities
Purchase Agreement. The parties hereby agree that for purposes of Sections 5(d) and 5(e) of the Securities Purchase Agreement,
the Shares in Lieu of Interest Payment shall constitute “Securities” and HT shall constitute a “Buyer”
as such terms are used therein.

 

4.       Material
Non-Public Information. On or before 9:00 a.m., New York time, on the trading day after the date of this letter agreement,
the Company shall file a Current Report on Form 8- K describing all the material terms of the transactions contemplated by this
letter agreement in the form required by the Exchange Act. From and after the filing of the such Form 8-K, 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 issuance of such Form 8-K, 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. The Company shall not, and the Company shall cause each of its subsidiaries
and each of its and their respective officers, directors, employees and agents not to, provide HT with any material, non-public
information regarding the Company or any of its subsidiaries from and after the date hereof unless prior thereto HT shall have
consented in writing to the receipt of such information and agreed with the Company to keep such information confidential.

 

     

     

    

 

5.       Limited
Nature of Agreement. The agreement set forth in this letter agreement is limited to the extent specifically set forth above
and shall in no way serve to amend or waive compliance with any terms, covenants or provisions of the Note, other than as expressly
set forth above.

 

6.       Acknowledgements.
To induce HT to enter into this letter agreement, the Company hereby acknowledges, stipulates, warrants and agrees as follows:

 

(a)       upon
giving effect to this letter agreement, other than as disclosed in the Forbearance Agreement, no default or Event of Default currently
exists or is continuing as of the date hereof and none is currently expected; and

 

(b)       the
execution of this letter agreement does not constitute an agreement by HT that there are no events of default existing under the
Note, the March Warrant, the June Warrant or the Securities Purchase Agreement, and HT has reserved all rights and remedies with
respect to any other such defaults or events of default, subject to the Forbearance Agreement.

 

7.       Miscellaneous.
The Note, the March Warrant, the June Warrant and the Securities Purchase Agreement remain in full force and effect in accordance
with their terms. Nothing in this letter agreement, any other correspondence, or any oral communications between the Company and
HT should be construed to be a waiver, limitation, or forgiveness of any default or any of HT’s default rights and remedies
under any of the Note, the March Warrant, the June Warrant and the Securities Purchase Agreement, any other agreement, instrument
or document between the Company and HT, and as provided by applicable law, all of which rights and remedies remain in full force
and effect.

 

The terms and provisions of the Note, the
March Warrant, the June Warrant and the Securities Purchase Agreement are ratified and confirmed and remain in full force and effect.
Any breach of the terms and conditions of this letter agreement will constitute an event of default under the Note, the March Warrant,
the June Warrant and the Securities Purchase Agreement, as applicable.

 

If the foregoing correctly sets forth the
understanding between the Company and HT, please so indicate in the space provided below for that purpose, whereupon this letter
shall constitute a binding agreement between the Company and HT.

 

[Remainder of Page Left Blank; Signature
Page Follows]

 

     

     

    

 

This letter agreement
may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed
and delivered shall be deemed an original, but all of which counterparts together shall constitute but one and the same instrument.

 

	 	Very truly yours,
	 	 	 
	 	PARETEUM CORPORATION
	 	 	 
	 	By:	/s/ Alexander Korff
	 	Name:	Alexander Korff
	 	Title:	Corporate Secretary

 

 

AGREED AND ACCEPTED:

 

	HIGH TRAIL INVESTMENTS SA, LLC	 
	 	 	 
	By:	/s/ Eric Helenek	 
	Name:	Eric Helenek	 
	Title:	Authorized SignatoryDocument

Exhibit 10.1
Veeva Systems Inc.

September 4, 2020
Tim Cabral 

Dear Tim,
This letter is to document the revised employment arrangement agreed between you and Veeva Systems Inc. (the “Company”) following your retirement as CFO of the Company. The terms of your new role are as follows: 
1.Position.  Your title will be Advisor and you will report to the Doug Ostler. This is a part-time position. You will begin this role effective September 7, 2020. While you render services to the Company, you will not engage in any other employment, consulting or other business activity (whether full-time or part-time) that would create a conflict of interest with the Company.  By signing this letter agreement, you confirm to the Company that you have no contractual commitments or other legal obligations that would prohibit you from performing your duties for the Company.  
2.Compensation.  The Company will pay you a salary at the rate of $35,000 per year, payable in accordance with the Company’s standard payroll schedule.  Your current equity compensation will vest at 10% of the vesting rate in effect prior to September 7, 2020. You agree that each grant agreement you entered into with the Company is hereby amended to reflect the vesting scheduled listed on Exhibit A and will be represented in the Company’s equity system with a new grant number as also listed on Exhibit A. Any stock option awards that have already vested shares will receive a new grant number in the equity system and are not included in Exhibit A. No new equity awards will be made. Your compensation, as described above, will be subject to adjustment pursuant to the Company’s policies, which may change from time to time.
3.Employee Benefits.  In your role as Advisor, you will be eligible to participate in a limited number of Company-sponsored benefits as separately communicated to you.
4.Employment Relationship.  Employment with the Company is for no specific period of time.  Your employment with the Company will be “at will,” meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause.  Any contrary representations that may have been made to you are superseded by this letter agreement.  This is the full and complete agreement between you and the Company on this term.  Although your job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written agreement signed by you and a duly authorized officer of the Company (other than you).
5.Taxes.  All forms of compensation referred to in this letter agreement are subject to reduction to reflect applicable withholding and payroll taxes and other deductions required by law.  You agree that the Company does not have a duty to design its compensation policies in a manner that minimizes your tax liabilities, and you will not make any claim against the Company or its Board of Directors related to tax liabilities arising from your compensation.
6.Interpretation, Amendment and Enforcement.  This letter agreement, your existing equity grant agreements as amended by Exhibit A, and your existing Proprietary Information and Inventions Agreement constitute the complete agreement between you and the Company, contain all of the terms of your employment with the Company and supersede any prior agreements, representations or understandings (whether written, oral or implied) between you and the Company. This letter agreement may not be amended or modified, except by an express written agreement signed by both you and a duly authorized officer of the Company.  The terms of this letter agreement and the resolution of any disputes as to the meaning, effect, performance or validity of this letter agreement or arising out of, related to, or in any way connected with, this 

letter agreement, your employment with the Company or any other relationship between you and the Company (the “Disputes”) will be governed by California law, excluding laws relating to conflicts or choice of law.  You and the Company submit to the exclusive personal jurisdiction of the federal and state courts located in Alameda County, California in connection with any Dispute or any claim related to any Dispute.

* * * * *

Very truly yours,

Josh Faddis
Veeva Systems Inc.

By:    /s/Josh Faddis           
Title:  Sr. Vice President, General Counsel           

I have read and I accept this revision to my employment arrangement and amendments to my equity grant agreements:

By:    /s/Tim Cabral          

Dated:  September 4, 2020

Exhibit A

															
	Original Grant Number	New Grant Number	Share Type	Vest Date	Shares Vesting on Vest Date*
	8365	A008365	ISO	04/01/2024	113
	ISO	04/01/2025	57
	ISO	04/01/2026	57
	ISO	04/01/2027	57
	ISO	04/01/2028	57
	ISO	04/01/2029	57
	ISO	04/01/2030	57
	3337	A003337	ISO	04/01/2021	361
	ISO	04/01/2022	73
	ISO	04/01/2023	73
	ISO	04/01/2024	73
	ISO	04/01/2025	73
	ISO	04/01/2026	73
	ISO	04/01/2027	73
	ISO	04/01/2028	73
	ISO	04/01/2029	73
	N008365	AN008365	NQSO	04/01/2021	2,225
	NQSO	04/01/2022	454
	NQSO	04/01/2023	454
	NQSO	04/01/2024	396
	NQSO	04/01/2025	396
	NQSO	04/01/2026	396
	NQSO	04/01/2027	396
	NQSO	04/01/2028	396
	NQSO	04/01/2029	396
	NQSO	04/01/2030	396
	N03337	AN03337	NQSO	04/01/2021	2,209
	NQSO	04/01/2022	451
	NQSO	04/01/2023	451
	NQSO	04/01/2024	451
	NQSO	04/01/2025	451
	NQSO	04/01/2026	451
	NQSO	04/01/2027	451
	NQSO	04/01/2028	451
	NQSO	04/01/2029	451

															
	RU007377	AU007377	RSU	10/01/2020	763
	RSU	01/01/2021	101
	RSU	04/01/2021	101
	RSU	07/01/2021	101
	RSU	10/01/2021	101
	RSU	01/01/2022	101
	RSU	04/01/2022	101
	RSU	07/01/2022	101
	RSU	10/01/2022	101
	RSU	01/01/2023	101
	RSU	04/01/2023	101
	RSU	07/01/2023	101
	RSU	10/01/2023	101
	RSU	01/01/2024	101
	RSU	04/01/2024	101
	RSU	07/01/2024	101
	RSU	10/01/2024	101
	RSU	01/01/2025	101
	RSU	04/01/2025	101
	RSU	07/01/2025	101
	RSU	10/01/2025	101
	RSU	01/01/2026	101
	RSU	04/01/2026	101
	RSU	07/01/2026	45

*Shares vesting on the Vest Date are subject to the service provider’s continuous service to the Company. 
**If your part-time employment status does not change, equity grants will be forfeited as follows: 
(i) Grant # A008365, 121 options on April 13, 2030,  
(ii) Grant # AN03337, 7,719 stock options on April 10, 2029,  
(iii) Grant # A003337, 1,269 stock options on April 10, 2029, and 
(iv)  Grant #AN008365, 11,699 stock options on April 13,2030
This Exhibit A anticipates you working part-time indefinitely. However, upon your official return to full-time status or a change in your part-time status (i.e., working greater than 10%) your vesting schedule will be adjusted accordingly for the remaining unvested equity grants.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00317-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00317-of-00352.parquet"}]]