Document:

Exhibit 10.11 

 

EQUITY
AGREEMENT

 

THIS
EQUITY AGREEMENT (the “Agreement”) is made and entered into effective as of December 6, 2017, by and between
Blink Charging Co. (f/k/a Car Charging Group, Inc.), a Nevada corporation (the “Company”) and Michael D. Farkas,
the Executive Chairman of the Company.

 

WHEREAS,
the Company is currently in the process of pursuing: (i) a public offering of its securities; and (ii) the listing of its
shares of common stock on the Nasdaq Capital Market or other national securities exchange (collectively, the “Offering”);

 

WHEREAS,
effective August 29, 2017, the Company implemented a 1-for-50 reverse split of the Company’s issued and outstanding
common stock (the “Reverse Split”);

 

WHEREAS,
Mr. Farkas is the sole owner of an entity called The Farkas Group Inc. (“FGI”) and the Company issued warrants
to FGI in June 2016, July 2016, August 2016, September 2016, and August 2017 (the “FGI Warrants”);

 

WHEREAS,
pursuant to the terms of the FGI Warrants, the Reverse Split did not result in a proportionate adjustment to the shares to
be issued upon the exercise of the FGI Warrants;

 

WHEREAS,
in August 2017 following the Reverse Split, FGI exercised, on a cashless basis, warrants issued by the Company such that FGI
received 2,990,404 shares of the Company’s common stock (the “FGI Warrant Shares”);

 

WHEREAS,
Mr. Farkas owns ten million (10,000,000) shares of the Company’s Series A Preferred Stock (“Series A Shares”)
which, pursuant to the Series A Certificate of Designation (as amended), were convertible into twenty-five million (25,000,000)
shares of the Company’s common stock with the Reverse Split not resulting in a proportionate adjustment to the conversion
ratio of the Series A Preferred Stock;

 

WHEREAS,
Mr. Farkas agreed, pursuant to a June 2017 agreement, that upon the closing of the Offering, Mr. Farkas would automatically
convert his Series A Shares into two million (2,000,000) shares of the Company’s common stock;

 

WHEREAS,
in connection with the Offering, the staff of the Nasdaq Capital Market requested that the FGI Warrant Shares and the conversion
ratio of the Series A Shares be subject to the Reverse Split and Mr. Farkas has agreed;

 

WHEREAS,
the Board of Directors of the Company (the “Board”), in consideration of Mr. Farkas’ many years of
work for the Company, considers it to be in the Company’s best interest to grant equity to Mr. Farkas in connection with
the Offering;

 

WHEREAS,
pursuant to the Third Amendment to Executive Employment Agreement between the Company and Mr. Farkas effective June 15, 2017
(the “Third Amendment”), after the closing of the Offering, Mr. Farkas’ monthly salary during the term
of his employment was to be $30,000 of cash compensation;

 

WHEREAS,
pursuant to the Third Amendment, Mr. Farkas’ monthly salary was to be $40,000 of cash compensation for as long as the
Company has positive EBITDA as assessed on a quarterly basis; and

 

WHEREAS,
the Board considers it to be in the Company’s best interest for Mr. Farkas’ monthly salary to be $40,000 following
the closing of the Offering.

 

NOW,
THEREFORE, in consideration of the foregoing, of the mutual promises contained herein and of other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

	 	1.	Cancellation
    of Portion of FGI Warrant Shares. The Company and Mr. Farkas hereby agree that upon the closing of the Offering, Mr. Farkas
    (as the sole owner of FGI) shall cancel 2,930,596 shares of the Company’s common stock.

 

    	1

     

    

 

	 	2.	New
    Series A Conversion Agreement. The Company and Mr. Farkas hereby agree that upon the closing of the Offering, Mr. Farkas
    is extinguishing his right to 24,500,000 (twenty-four million five hundred thousand) shares of the Company’s common
    stock on an as-converted basis. Upon the closing of the Offering, the Series A Shares shall automatically convert into five
    hundred thousand (500,000) restricted shares of the Company’s common stock instead of the 25,000,000 shares of Common
    stock Mr. Farkas is entitled to..
	 	 	 
	 	3.	Equity.
    The Company and Mr. Farkas hereby agree that upon the closing of the Offering and simultaneous and pursuant to the actions
    above, the Company will irrevocably transfer 886,119 restricted shares of the Company’s common stock to Mr. Farkas.
	 	 	 
	 	4.	Monthly
    Salary. After the closing of the Offering, the Executive’s monthly salary during the term of his employment, as
    governed by the Third Amendment, shall be $40,000 of cash compensation. This Section 4 of the Agreement shall supersede the
    last two sentences of Section 9 of the Third Amendment.
	 	 	 
	 	5.	Expiration
    of this Agreement. If the Offering does not close by 5:00 PM Eastern Standard Time on December 29, 2017, this Agreement
    shall expire.
	 	 	 
	 	6.	Counterparts.
    This Agreement may be executed in any number of counterparts, including facsimile and scanned versions, each of which when
    so executed shall be deemed an original and all of which shall constitute together one and the same instrument, and shall
    be effective upon execution by all of the parties.

 

IN
WITNESS WHEREOF, the parties have executed this Conversion Agreement.

 

	BLINK
    CHARGING CO.	 	MICHAEL
    D. FARKAS
	 	 	 	 
	By:	/S/
    Michael J. Calise 	 	/S/
    Michael D. Farkas 
	 	Michael
    J. Calise, Chief Executive Officer	 	 

 

    	2AMENDMENT
#4

TO
THE SECURITIES PURCHASE AGREEMENT AND

TO THE $3,725,000 PROMISSORY NOTE

 

This
Amendment #4, dated July 20, 2017 (this “Amendment”), is by and between Car Charging Group, Inc., a Nevada corporation
(the “Issuer”) and JMJ Financial (the “Investor”) (referred to collectively herein as the
“Parties”)

 

WHEREAS,
the Issuer and the Investor entered into a Securities Purchase Agreement Document SPA-10052016 (the “SPA”)
dated as of October 7, 2016, pursuant to which the Issuer issued to the Investor a $3,725,000 Promissory Note (the “Note”),
a Warrant, and Origination Shares (all capitalized terms not otherwise defined herein shall have the meanings given such terms
in the SPA);

 

WHEREAS,
the Issuer and the Investor previously entered into Amendment #1 to the SPA and the Note dated March 23, 2017 extending the Maturity
Date of the Note and the date for delivery of the Origination Shares;

 

WHEREAS,
the Issuer and the Investor previously entered into Amendment #2 to the SPA and the Note dated May 15, 2017 further extending
the Maturity Date of the Note and the date for delivery of the Origination Shares; and

 

WHEREAS,
the Issuer and the Investor previously entered into Amendment #3 to the SPA and the Note dated June 15, 2017 again extending the
Maturity Date of the Note and the date for delivery of the Origination Shares.

 

NOW,
THEREFORE, the Issuer and the Investor agree as follows:

 

1.
Extension of Maturity Date. In the sentence in the Note (as previously amended) that states “The Maturity Date is
the earlier of July 15, 2017 or the third business day after the closing of the Public Offering,” the date of July 15, 2017
shall be replaced with the date of August 20, 2017.

 

2. Extension
of Origination Shares Dates. The references to the date of July 15, 2017 in Sections 1.3.1 and 1.3.2 of the SPA (as
previously amended) shall be replaced with the date of August 20, 2017.

 

3.
Conditional Waiver of Default. The Investor conditionally waives the defaults for the Issuer’s failure to meet the
original and previously amended Maturity Dates of the Note and delivery dates for the Origination Shares, but the Investor does
not waive any damages, fees, penalties, liquidated damages, or other amounts or remedies otherwise resulting from such defaults
(which damages, fees, penalties, liquidated damages, or other amounts or remedies the Investor may choose in the future to assess,
apply or pursue in its sole discretion) and the Investor’s conditional waiver is conditioned on the Issuer’s not being
in default of and not breaching any term of the Note or the SPA or any other Transaction Documents at any time subsequent to the
date of this Amendment (if the Issuer triggers an event of default or breaches any term of the Note, the SPA, or the Transaction
Documents at any time subsequent to the date of this Amendment, the Investor may issue a notice of default for the Issuer’s
failure to meet the original Maturity Date of the Note and delivery date of the Origination Shares).

 

ALL
OTHER TERMS AND CONDITIONS OF THE SPA AND THE NOTE REMAIN IN FULL FORCE AND EFFECT.

 

    	 

    	 	 

    

 

Please
indicate acceptance and approval of this Amendment by signing below:

 

	/s/
    Michael J. Calise 	 	/s/
Justin Keener 
	Michael
    J. Calise 	 	JMJ
    Financial
	Car
    Charging Group, Inc. 	 	Its
    Principal
	Chief
    Executive Officer	 	 

 

[Amendment
#4 Signature Page]AMENDMENT #5

TO THE SECURITIES PURCHASE
AGREEMENT AND

TO THE $3,725,000 PROMISSORY NOTE

 

This Amendment
#5, dated August 21, 2017 (this “Amendment”), is by and between Car Charging Group, Inc., a Nevada corporation (the
“Issuer”) and JMJ Financial (the “Investor”) (referred to collectively herein as the “Parties”)

 

WHEREAS,
the Issuer and the Investor entered into a Securities Purchase Agreement Document SPA-10052016 (the “SPA”) dated
as of October 7, 2016, pursuant to which the Issuer issued to the Investor a $3,725,000 Promissory Note (the “Note”),
a Warrant, and Origination Shares (all capitalized terms not otherwise defined herein shall have the meanings given such terms
in the SPA);

 

WHEREAS,
the Issuer and the Investor previously entered into Amendment #1 to the SPA and the Note dated March 23, 2017 extending the Maturity
Date of the Note and the date for delivery of the Origination Shares;

 

WHEREAS,
the Issuer and the Investor previously entered into Amendment #2 to the SPA and the Note dated May 15, 2017 further extending the
Maturity Date of the Note and the date for delivery of the Origination Shares;

 

WHEREAS,
the Issuer and the Investor previously entered into Amendment #3 to the SPA and the Note dated June 15, 2017 again extending the
Maturity Date of the Note and the date for delivery of the Origination Shares; and

 

WHEREAS,
the Issuer and the Investor previously entered into Amendment #4 to the SPA and the Note dated July 20, 2017 again extending the
Maturity Date of the Note and the date for delivery of the Origination Shares.

 

NOW, THEREFORE, the Issuer and the Investor agree as follows:

 

1. Extension of Maturity Date.
In the sentence in the Note (as previously amended) that states “The Maturity Date is the earlier of August 20, 2017 or the
third business day after the closing of the Public Offering,” the date of August 20, 2017 shall be replaced with the date
of August 23, 2017.

 

2. Extension
of Origination Shares Dates. The references to the date of August 20, 2017 in Sections 1.3.1 and 1.3.2 of the SPA (as
previously amended) shall be replaced with the date of August 23, 2017.

 

3. Conditional Waiver of Default.
The Investor conditionally waives the defaults for the Issuer's failure to meet the original and previously amended Maturity Dates
of the Note and delivery dates for the Origination Shares, but the Investor does not waive any damages, fees, penalties, liquidated
damages, or other amounts or remedies otherwise resulting from such defaults (which damages, fees, penalties, liquidated damages,
or other amounts or remedies the Investor may choose in the future to assess, apply or pursue in its sole discretion) and the Investor's
conditional waiver is conditioned on the Issuer's not being in default of and not breaching any term of the Note or the SPA or
any other Transaction Documents at any time subsequent to the date of this Amendment (if the Issuer triggers an event of default
or breaches any term of the Note, the SPA, or the Transaction Documents at any time subsequent to the date of this Amendment, the
Investor may issue a notice of default for the Issuer's failure to meet the original Maturity Date of the Note and delivery date
of the Origination Shares).

 

    	 

    	 	 

    

 

ALL OTHER TERMS AND CONDITIONS OF THE SPA AND THE
NOTE REMAIN IN FULL FORCE AND EFFECT.

 

Please indicate acceptance and approval of this Amendment
by signing below:

 

	/s/ Michael J. Calise
    	 	/s/ Justin Keener
    
	Michael J. Calise	 	JMJ Financial
	Car Charging Group, Inc	 	Its Principal
	Chief Executive Officer	 	 

 

[Amendment #5 Signature Page]

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