Document:

EXHIBIT 10.1

 

THIS DEED OF RELEASE AND TERMINATION is
made on 28 February 2014 and is given by:

	(1)	XIN HUA, holder of PRC Identity Card Number 522501197702277338, of 37/F, 500 Chengdu North
Road, Huangpu District, Shanghai, the People’s Republic of China (the “Lender”); in favour of
	 	 
	(2)	GULFSTREAM CAPITAL PARTNERS LTD., a company incorporated in Seychelles with limited liability,
the registered office of which is at 1st Floor, #5 DEKK House, De Zippora Street, P.O. Box 456, Povidence Industrial Estate, Mahe,
Republic of Seychelles (the “Chargor”).

Whereas:

	(A)	By a share charge dated 28 October 2014 and executed by the Chargor in favour of the Lender (the
“Share Charge”), the Chargor granted security over the Charged Securities, 378,467,031 shares (each a “Share”)
of HK$1.00 each in the capital of China Motion Telecom (HK) Limited (“China Motion”) as security for the payment and
discharge of the Secured Obligations.
	 	 
	(B)	By an option deed dated 28 October 2014 and entered into between the Chargor and the Lender (the
“Option Deed”), the Chargor granted a call option to the Lender for the acquisition by the Lender from the Chargor
the entire issued share capital of China Motion;
	 	 
	(C)	Upon full repayment of the Loan (as defined in the Loan Agreement) by the Chargor, (i) the Lender
has agreed to release the Charged Securities from the Share Charge; and (ii) Lender and the Chargor has agreed to terminate the
Option Deed subject to the terms and conditions of the Loan Agreement.

 

Now
this Deed witnesses as follows:

 

	1.	Interpretation

 

Unless the context otherwise
requires or unless otherwise defined in this Deed, capitalised terms in this Deed (including the Recitals) shall have the same
meaning ascribed to them in the Share Charge.

 

	2.	Release

	2.1	The Lender hereby unequivocally and irrevocably RELEASES, REASSIGNS AND DISCHARGES unto the Chargor
the Charged Securities and all and any right title interest property claim and demand whatsoever of the Lender therein and thereto
and TO HOLD the same unto the Chargor absolutely as the Chargor held the same immediately prior to the execution of the Share Charge
freed and absolutely discharged of and from the Share Charge and of and from all principal, interest and other monies thereby secured
and all claims and demands for and in respect of the same and in any manner relating thereto.

 

    	1

    	 

    

 

	 	 
	2.2	The Lender hereby undertakes that it shall
forthwith upon the execution of this Deed return to the Chargor the following documents (which shall be identically the same as
those delivered by the Chargor to the Lender pursuant to the Share Charge):

 

		(a)	share certificate(s) in respect of the Charged Securities issued in the name of the Chargor;

		(b)	undated instrument(s) of transfer in respect of the Charged Securities duly executed in blank by
the Chargor;

		(c)	undated bought and sold notes in respect of the Charged Securities duly executed in blank by the
Chargor;

		(d)	undated declaration of the Chargor that there is no loss of the share certificate(s) of the Charged
Securities as referred to in sub-paragraph (a) above;

		(e)	a duly executed letter of authorisation from each of the directors of the Company; and

		(f)	undated letter of resignation of each of Tay Yong Lee, George Alvarez, Hung Chau Wai Peter resigning
from their respective office as director of the Company.

	3.	TERMINATION OF OPTION

 

	3.1	The Lender and the Chargor hereby agree to terminate the Option Deed with effect from the date
of this Deed. Each of the Chargor and the Lender hereby releases the others from all past, present and future duties, obligations
and liabilities under the Option Deed, notwithstanding any clauses of the Option Deed providing otherwise.

 

	4.	Governing Law

 

This Deed shall be governed by and construed
in accordance with the laws of Hong Kong and the Lender hereby irrevocably submits to the non-exclusive jurisdictions of the Hong
Kong courts.

 

	5.	COUNTERPARTS

 

This Deed may be executed
in any number of counterparts and by different parties on separate counterparts as the Lender may require which taken together
shall be deemed to constitute one document. Satisfactory evidence of execution of this Deed will include evidence by facsimile
of execution by the relevant party and in such case the executing party undertakes to produce the original as soon as reasonably
practicable thereafter.

    	2

    	 

    

In
witness whereof this Deed has been duly executed by the Lender the day and year first above written.

	THE LENDER	 
	 	 
	SIGNED, SEALED AND DELIVERED	)
	 	)
	By XIN HUA	)    /s/ Xin Hua
	 	)
	in the presence of:	)

	THE CHARGOR	 
	 	 
	Executed
as a Deed	)
	 	)
	and SIGNED by Colin
Tay, its director	)
	 	)
	for and on behalf of	) /s/ Colin Tay
	 	)
	Gulfstream
Capital Partners, Ltd.	)
	 	)
	in the presence of:	)

 

 

 

    	3EXHIBIT 10.2

 

SECOND AMENDED LOAN AGREEMENT

This agreement (“Second Amended
Loan Agreement”) is entered into as of March 4, 2014 (“Effective Date”) between VelaTel Global Communications,
Inc., a Nevada corporation (“VelaTel”), and AQC, LLC, a Delaware limited liability company (“AQC”).
In this Second Amended AQC Loan Agreement, VelaTel and AQC are each referred to as a “Party”, and together as
the “Parties.”

RECITALS

A.            The Parties previously entered into a loan agreement dated August 16, 2013 (“Original Loan Agreement”),
and an amended loan agreement dated December 13, 2013 (“First Amended Loan Agreement”). Under the Original and
First Amended Loan Agreements, AQC is erroneously referred to as AQT, LLC.

B.            The proceeds of the of the Original and First Amended Loan Agreements were paid directly by AQC to reduce the balance due
under a loan agreement (“Xin Hua Loan Agreement”) between VelaTel’s subsidiary Gulfstream Capital Partners
Limited (“Gulfstream”) and Xin Hua, related to the acquisition by VelaTel/Gulfstream of 100% of the equity interest
in China Motion Telecom (HK) Limited (“China Motion” and “China Motion Stock”). Under the
First Amended Loan Agreement, AQC had the option but not the obligation to pay the remaining balance due under the Xin Hua Loan
Agreement. Upon payment in full of the Xin Hua Loan Agreement, AQC was to receive either an assignment of Xin Hua’s collateral
interest in the China Motion Stock, or a grant of substantially identical collateral by creation of new instruments in favor of
AQC. AQC also had certain option rights to acquire China Motion Stock.

C.            AQC has now paid or facilitated payment
of the remaining balance due under the Xin Hua Loan Agreement totaling. In lieu of the rights described in the First Amended Loan
Agreement, the Parties now desire to again amend the terms of their agreement, whereby the entire repayment obligation, collateral
protection and other equity rights granted to AQC will flow directly from China Motion to AQC.

AGREEMENT

1.            In consideration of and subject to the full execution of the following instruments between AQC and China Motion, all rights
and obligations of the Parties under the Original Loan Agreement and First Amended Loan Agreement are hereby deemed and declared
satisfied:

		a.	Promissory Note;

		b.	Security Agreement for China Motion’s assets; and

		c.	Warrant for Purchase of China Motion Stock.

2.            This Second Amended Loan Agreement shall be governed by the laws of California, without regard to the conflict of laws principles
thereof, as the same apply to agreements executed solely between residents of California and wholly to be performed within California.
The Parties agree that all actions or proceedings arising in connection with this Agreement shall be brought exclusively in the
state or federal courts in San Diego County, California. The aforementioned choice of venue is intended by the Parties to be mandatory
and not permissive in nature, thereby precluding the possibility of litigation between the Parties with respect to or arising out
of this Agreement in any jurisdiction other than that specified in this Section. Each Party hereby waives any right it may have
to assert the doctrine of forum non conveniens or similar doctrine.

    	1

    	 

    

3.            If any action at law or in equity is necessary to enforce or interpret the terms of any of this Agreement, the prevailing
Party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief
to which such Party may be entitled.

4.                  
This Second Amended Loan Agreement may be signed in as many counterparts as may be necessary, each of which so signed (including
any signed copy sent by electronic facsimile transmission) shall be deemed to be an original, such counterparts together shall
constitute one and the same instrument and, notwithstanding the date of the execution, shall be deemed to bear the Effective Date
as set forth above.

	
        VELATEL GLOBAL COMMUNICATIONS, INC.

         

         

         

        By  /s/ George Alvarez

               George Alvarez
        its Chief Executive Officer
	
        AQC, LLC

         

         

         

        By  /s/ David Somrack

               David Somrack,
        its Manager

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	2EXHIBIT 10.3

 

	US$2,863,000]	March 4, 2014

 

PROMISSORY NOTE 

FOR VALUE RECEIVED, the undersigned,
CHINA MOTION TELECOM (HK) LIMITED, a business company organized under laws of Hong Kong (“Maker”), promises
to pay to the order of AQC, LLC, a limited liability company organized under the laws of Delaware, or any successor holder
of this Note (“Holder”), at the address of 38448 Lakeshore Boulevard, Willoughby, OH 44095, or such other place
as Holder may designate, the principal amount of Two Million Eight Hundred Sixty-Three Thousand United States Dollars (US$2,863,000),
together with interest thereon as provided below.

1.            Interest. Prior to any default, interest shall accrue at the fixed rate of ten percent (10%) per annum on the outstanding
principal balance of this Note. If any default under this Note shall occur and for so long as such default shall be continuing,
interest shall accrue on the outstanding principal balance hereof at the fixed rate of twenty percent (20%) per annum or the maximum
rate per annum permitted by law, whichever is less.

2.            Payments; Prepayment. All amounts payable hereunder are payable in lawful money of the United States of America. All outstanding
principal shall be payable on June 1, 2014 (the “Maturity Date”) in cash by wire transfer of immediately available
funds into an account designated by Holder. Maker may prepay all or any part of the principal owing on this Note at any time or
times prior to the Maturity Date without payment of any premium or penalty.

3.            Extension of Maturity Date. Maker shall have the right to extend the Maturity Date for up to twelve consecutive increments
of three calendar months each upon payment in cash to Holder of an extension fee (each an “Extension Fee”) equal
to 3% of the then current principal owing on this Note.

4.            Board Representative. For such time as any amount is owing pursuant to this Note, Holder shall have the right from time
to time to nominate one person to be appointed and to continue in office as a director of Maker, provided that such persons fulfil
the requirements under the applicable law to be appointed as a director. At such time as this Note is paid in full, Holder shall
cause its appointed director to promptly resign. Any of the following decisions shall require unanimous consent of all directors:
(a) borrow any sum or enter into any contract for capital expenditures that is in excess of US$1,000,000 or is outside the course
of the Company’s general business model as a telecommunications service provider; (b) consolidate or merge with or acquire
any other business or sell any existing capital assets of Maker except those which are obsolete; (c) issue any share of stock or
other security of Maker or create or issue any debentures or other securities convertible into shares or debentures of Maker, or
vary any right attaching to any existing securities of Maker; (d) pass any resolutions in general meeting or by way of written
resolution relating to wind-up or dissolution of Maker; and (e) distribute any profits of Maker by way of dividends to shareholders.

5.            Security. Payment of this Note is and shall be secured by a security interest in all of Makers’ presently existing
and hereafter acquired property, wherever located, as provided in the Security Agreement of even dated herewith between Makers
and Holder (“Security Agreement”). Holder is not required to rely on collateral for the payment of this Note
in the event of default by Maker, but may proceed directly against Maker in such manner as Holder deems desirable or appropriate.

    	1

    	 

    

6.            Default. Each of the following events shall constitute an event of default (“Event of Default”) and Holder,
in addition to any remedies available to it at law or in equity, shall thereupon have the option to declare Maker in default under
this Note and declare due all obligations of Maker to Holder (it also being understood that the occurrence of any of the Events
of Default set forth in subsections (c) or (d) automatically shall constitute an Event of Default and cause an immediate acceleration
of Maker’s indebtedness to Holder):

(a)               
the failure of Maker to make any payment required hereunder when due;

(b)              
the default by Maker in the performance or observance of any other term, covenant, condition or obligation contained in this Note
or in the Security Agreement, which default is not cured within 15 days after written notice to Maker thereof;

(c)               
the filing of any voluntary or involuntary bankruptcy petition, request for appointment of liquidator, receiver or trustee, resolution
passed for the winding up, liquidation or dissolution, or other action or proceedings taken for the purpose of winding up, liquidating
or dissolving Maker, where such proceedings are not discharged or discontinued within thirty days;

(d)              
the filing of any voluntary or involuntary bankruptcy petition, request for appointment of liquidator, receiver or trustee, resolution
passed for the winding up, liquidation or dissolution, writ for attachment of any Shares of the Company owned by, or other action
or proceedings taken for the purpose of winding up, liquidating or dissolving the Company’s ultimate holding company, VelaTel
Global Communications, Inc., or its intermediate holding company, Gulfstream Capital Partners Limited, where such proceedings are
not discharged or discontinued within thirty days; or

(e)              
any change of management control of the Company’s ultimate holding company, VelaTel Global Communications, Inc.

7.            Collection Costs. Upon the occurrence of any Event of Default, Maker agrees to pay Holder, upon demand, any and all costs,
expenses and fees, including without limitation, reasonable attorneys’ fees incurred before or after suit is commenced in
order to enforce payment hereof, and in the event suit is brought to enforce payment hereof, that such costs, expenses and fees
shall be determined by a court proceeding without a jury.

8.            Waiver. Maker hereby acknowledges and agrees that the failure by Holder to insist upon Maker’s strict performance
of this Note or the failure by Holder to exercise its remedies hereunder shall not be deemed a waiver of such default, and shall
not be a waiver by Holder of any of Holder’s rights or remedies hereunder or at law or in equity.

9.            Usury. No provision of this Note shall require the payment or permit the collection of interest in excess of the maximum
permitted by law. If any excess interest is herein provided for, or shall be adjudicated to be so, the provisions of this Section
shall govern, and neither Maker nor its successors or assigns shall be obligated to pay the amount of such interest to the extent
that it is in excess of the amount permitted by law, and any such amount paid, at the option of Holder, shall either be applied
against the principal balance of this Note due at maturity or rebated to Maker within 30 days after such determination.

All sums contracted for, charged or received
by Holder for the use, forbearance or detention of the indebtedness evidenced by this Note shall, to the extent required to avoid
or minimize usury and to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full
stated term of this Note so that the interest rate does not exceed the maximum non-usurious rate of interest permitted for that
day by applicable law. The provisions of this Section shall control all agreements, whether now or hereafter existing and whether
written or oral, between Maker and Holder.

    	2

    	 

    

10.           Governing Law. This Note shall be governed by and construed in accordance with the laws of Hong Kong, without regard to
its conflicts of laws principles.

11.           Representations and Warranties of Maker. Maker hereby represent and warrants to Holder as follows:

(a)               
Maker has full power, authority and capacity to issue this Note and to perform and comply with all covenants and obligations contained
herein.

(b)              
This Note has been duly executed and delivered by Maker and constitutes the legal, valid and binding obligations of Maker, enforceable
against Maker in accordance with its terms, subject to bankruptcy, insolvency, reorganization, moratorium or other similar laws
now or hereafter in effect relating to creditors’ rights generally.

(c)               
Neither the execution and delivery of this Note, nor the performance by Maker of its obligations hereunder, will (i) require the
consent of any other party to any agreement or commitment by which Maker is bound, (ii) with or without the giving of notice or
the lapse of time or both, conflict with or result in a breach of any terms or provisions of, or result in the creation or imposition
of any lien, claim, charge or encumbrance upon Maker’s assets under any material agreements or other instrument, other than
the Security Agreement, or (iii) violate any applicable law, rule, regulation, judgment, decree or order of any court or governmental
instrumentality.

IN WITNESS WHEREOF, this Note has been
duly executed to be effective as of the 4th day of March, 2014.

CHINA MOTION TELECOM (HK) LIMITED

 

 

 

By: 
/s/ Colin Tay

        Colin Tay, Director

 

 

 

 

 

 

 

 

 

 

 

 

 

    	3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00227-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00227-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00227-of-00352.parquet"}]]