Document:

Consultancy Services Agreement

 Exhibit 10.6 
 - CONSULTANCY SERVICES AGREEMENT - 
 This is an agreement (the “Agreement”) dated
27 May 2010 between SEQUANS COMMUNICATIONS (“SEQUANS” or “Company”), French company incorporated under the form of Société Anonyme, registered with the Nanterre Corporate Register (R.C.S.) under
the number 450 249 677, and having its registered office located at 19, Parvis de la Défense – Bâtiment CitiCenter – 92073 PARIS LA DEFENSE Cedex (FRENCE), represented by Mr. Georges Karam, CEO, and Mr. Zvi
Slonimsky (the “CONCULTANT”) residing at 12, Rekanati St., Tel-Aviv 69494 (ISRAEL), collectively referred to as “THE PARTIES” 
 WHEREAS, 
 SEQUANS is engaged in the business of researching, developing and
commercializing silicon and software solutions in the areas of broadband wireless access, specifically compliant with WiMAX standard or other similar broadband wireless standards. 
 Mr. Zvi Slonimsky has a great knowledge and expertise in the broadband wireless access industry, and is in the business of providing related consultancy services. 

SEQUANS desires to use such consultancy services. 
 The Parties are willing to establish the relationship contemplated herein. 
 NOW THEREFORE,
in consideration of their mutual covenants and undertakings, the parties agree as follows. 
  

	1.	Services. As mutually agreed upon by the parties, CONSULTANT shall provide the following services to SEQUANS (the “Services”) during the term of this
Agreement: 

  

	 	i)	Review of the company’s Board of Directors meetings materials 

  

	 	ii)	Active participation to the Company’s business reviews 

  

	 	iii)	General advise to the Company about its business strategy 

  

	 	iv)	Report on specific business topics in the areas of expertise of the CONSULTANT as requested by the Company from time to time 

CONSULTANT shall maintain electronic records related to the services provided pursuant to this Agreement. 

Likewise, CONSULTANT undertakes to report on his activities performed under this Agreement to the Company. The nature and frequency of
these reports will be left to the reasonable discretion of SEUQANS. 
  

	2.	Term. This Agreement shall enter in force with retroactive effect to 11 January 2010 and shall continue for a period of two (2) years. It is expressly
agreed that this 2 year-period is likely to be renewed once for the same duration. 

  
 1 

	3.	Remuneration – Expenses – Warrants. In consideration with the consultancy services provided pursuant to the present Agreement, the CONSULTANT shall
receive a fixed fee which shall be settled by monthly installments of USD 3,333. 

 The CONSULTANT shall be
reimbursed for reasonable travel and other out of pocket expenses incurred in fulfilling his Services under this Agreement, subject to the provision of receipts and to the prior approval of the Company. 

The CONSULTANT shall invoice SEQUANS every moth for his fees and costs. Such invoices shall be due and payable within 15 days of receipt
of the invoice. 
  

	4.	Diligence. CONSULTANT shall collaborate with SEQUANS as an independent CONSULTANT on the basis of his specific skill. SEQUANS doesn’t undertake by this
Agreement or otherwise to perform any of CONSULTANT’s obligations. In no way is CONSULTANT to be construed as are employee or agent or acting as an employee or agent of SEQUANS in any respect CONSULTANT shall not disclose to any third party
information concerning any efforts undertaken for SEQUANS without the express prior, written consent of SEQUANS. 

CONSULTANT warrants that all services likely to be performed under this Agreement shall be performed with the skill, care and diligence to
be expected of a professional consultant. 
 CONSULTANT shall render his services under his own responsibility and shall
determine the adequate manner and means by which such services are accomplished, subject to the express condition that CONSULTANT shall at all times comply with the terms and conditions of this Agreement and applicable law. 

In the performance of his services, CONSULTANT will not use any confidential, proprietary, or trade secret information that it has learned
in prior projects for other clients, nor will it violate any existing copyright or trademark. 
  

	5.	Termination.  

  

	 	a)	Notwithstanding the terms of section 2 herein, either party may terminate this Agreement, with or without cause, upon 30 days-written notice to the other party.

  

	 	b)	SEQUANS may terminate this Agreement without respecting any notice period if CONSULTANT has breached any of his obligations under the Agreement.

  

	 	c)	Except as otherwise stated herein, each party shall be released from all obligations and (liabilities to the other party arising after the date of such termination,
except with respect to Confidentiality obligations, as set forth under section 6 hereafter, which shall remain in force for a period of five (5) years from the date of disclosure of any Confidential information. 

  
 2 

	 	d)	Upon termination of this Agreement CONSULTANT shall return to SEQUANS all tangible property belonging to SEQUANS including documents, computer files, data or programs.

  

	6.	Confidentiality. 

  

	 	a)	Confidential information. In order to conduct the duties involved with the services to be provided to SEQUANS, CONSULTANT wishes to obtain certain information
concerning SEQUANS and its business which is not generally known, and which SEQUANS considers to be proprietary and/or confidential (hereinafter referred to as “Confidential Information”), which may include but is not limited to, trade
secrets, discoveries, ideas, concepts, know-how, techniques, designs, specifications, drawings, diagrams, data, computer programs, business activities and operations, reports, studies and other technical and business information.

  

	 	b)	Protection of Confidential Information. CONSULTANT acknowledges that SEQUANS claims its Confidential Information as a special, valuable and unique asset.
CONSULTANT agrees that it will keep in confidence all Confidential Information and that it will not directly or indirectly disclose to any third party or use for its own benefit, or use for any purpose other than the consultancy services provided by
CONSULTANT, any Confidential Information it receives from SEQUANS. CONSULTANT agrees to use reasonable care to protect the Confidential Information, and in no event less than the same degree of care to protect the Confidential Information as it
would employ with respect to its own information of like importance, which it does not desire to have published or disseminated. Any information exchanged by the parties and entitled to protection under this Agreement shall be identified as such by
appropriate markings on any documents exchanged, or, if the disclose has been made orally, then the disclosing party shall identify the information as “confidential” at the time the disclosure is made and, within two (2) weeks of the
disclosure, shall confirm in writing the confidential nature of the oral communication. 

  

	 	c)	Limitations on Confidential Information. Confidential Information shall not include the information which: 

 

	 	•	 	 The CONSULTANT knows at the time of disclosure, free of any obligation to keep it confidential, as evidenced by written records;

  

	 	•	 	 Is or becomes publicly available through authorized disclosure; 

 

	 	•	 	 Is independently developed by the CONSULTANT without the use of any Confidential Information; or 

 

	 	•	 	 The CONSULTANT rightfully obtains from a third party who has the right to transfer or disclose it. 

If any portion of any confidential Information falls within any of the above exceptions, the remainder of the Confidential Information
shall continue to be subject to the requirements of this Agreement. 

  
 3 

	 	d)	Compelled Disclosure. Should the CONSULTANT be faced with legal action to disclose Confidential Information received under this Agreement, the CONSULTANT shall
promptly notify SEQUANS and, upon the request of the latter, shall cooperate with SEQUANS in contesting such a disclosure. Except in connection with failure to discharge the responsibilities set forth in the preceding sentence, neither party shall
be liable in damages for any disclosures pursuant to such legal action. 

  

	7.	Miscellaneous. 

  

	 	a)	This Agreement is the exclusive agreement between the parties with respect to its subject matter and as of its date supersedes all prior agreements, negotiations,
representations, and proposals, written or oral, related to its subject matter. Its terms cannot be modified, supplemented, or rescinded except by an agreement in writing signed by both parties. 

Neither party shall be bound by nor liable to the other party for any representation, promise, or inducement made by any of such
party’s agents or employees which is not embodied in this Agreement In the event of any discrepancy or inconsistency between this Agreement and any other form used by either party in connection herewith, the terms of this Agreement shall
govern. 
  

	 	b)	If any provision of this Agreement is held invalid, illegal, or unenforceable, the validity, legality, or enforceability of the remaining provisions shall in no way be
affected or impaired hereby. 

  

	 	c)	No waiver of any breach of this Agreement shall constitute a waiver of any other breach, whether of the same or any other covenant, term, or condition. The subsequent
performance of any of the terms, covenants, or conditions of this Agreement shall not constitute a waiver of any preceding breach, regardless of the other party’s knowledge of the preceding breach at the time of subsequent performance, ne shall
any delay or omission of either party’s exercise of any right arising from any such default affect or impair the parties’ rights as to the same or future default. 

 

	 	d)	This Agreement shall be governed by and interpreted in accordance with the laws of FRANCE. Any dispute arising out of the interpretation and/or the performance of the
present Agreement shall be submitted to the Courts of Paris (France). 

  

	 	e)	Whenever notice is required to be given under the terms of this Agreement, it shall be in writing and shall be personally delivered or mailed, certified mail, return
receipt requested, addressed as set forth on page 1 of this Agreement, to the party to receive such notice. E-mail notifications with receipt requested will be accepted. Any change of address of either party shall be effective upon of written notice
of such change by the opposite party. 

  

	 	f)	By executing this Agreement, the signatory for each party represents that it is duly authorized to execute this Agreement on behalf of such party.

  
 4 

									
	SEQUANS COMMUNICATIONS	 		 	Agreed and Accepted:
					
	By	 	
 

	 		 	By	 	
 

			
	Mr. Georges Karam	 		 	Mr. Zvi Slonimsky
	President and Chief Executive Officer	 		 	
					
	Date	 	 31/5/2010
	 		 	Date	 	 30.5.10

  
 5Form of Letter Agreement

 Exhibit 10.7 
 SEQUANS COMMUNICATIONS S.A. 
 19 Le Parvis de La Défense

 La Défense Cedex 
 92073, Paris France 
 November 25, 2010 

[Name] 
 [Address 1] 

[Address 2] 
 Dear [Name]: 

I am pleased to extend an offer to you to join the Board of Directors (the “Board”) of Sequans Communications S.A. (the
“Company”) on the following terms and conditions: 
 1. Services. You will provide advice and
assistance to the Company (i) first by attending our Board and committee meetings in a non-voting advisor capacity and providing related services as mutually agreed to between you and the Company, and (ii) subject to appointment by our
shareholders, by services as a member of our Board and committees of the Board to which you are appointed, collectively referred to as the “Services”. You will commence these Services on December 1, 2010 (the
“Commencement Date”). 
 2. Appointment to the Board. The Board intends to call a special meeting
of shareholders where it will recommend that the size of the Board be increased and that you be appointed as a member of the Board effective as of the time of such shareholders’ meeting. Your appointment is subject to the vote of our
shareholders. You agree to serve on the Board as of the time of this appointment. The Company expects that this appointment will occur in January 2011. 
 3. Compensation. 
 a. Cash. Subject to your
appointment as a member of the Board and as long as you will have such capacity, you will receive an annual retainer (jetons de presence) of $20,000, payable on terms to be determined. You will also be entitled to annual retainers (jetons
de presence spéciaux) in amounts to be determined in connection with your service as a chairperson or member of a committee of the Board. These annual retainers are $5,000, $9,000 to $12,000 for governance, compensation and audit
committee chairpersons, respectively, and $2,500, $4,500 to $6,000 for governance, compensation and audit committee members, respectively. Until your appointment to the Board you will not be paid for your Services. All payments will be subject to
standard withholding by the Company, if applicable. 
 b. Equity. Subject to approval by the Board, the Company
will grant you warrants (Bons de souscription d’action - BSA) to purchase 50,000 of the Company’s ordinary shares, with an exercise price per share equal to the fair market value at the time of grant, as determined by the
Company’s Board. These warrants will be subject to the terms and conditions of the applicable warrants issuance agreement, which you will need to sign. Such shares will vest and become exercisable in accordance with the following schedule:
1/3rd of the total 

 
number of shares under the warrants shall vest and become exercisable on each of the annual anniversary dates of your Commencement Date, provided you continue to provide the Services to the
Company, and as further specified in the warrants issuance agreement between you and the Company. The vesting of shares under the warrants will be accelerated in full upon a sale or merger of the Company, as provided further in the warrants
agreement between you and the Company. 
 Furthermore, subject to approval by the Board and provided you have the capacity of
Board member, the Company will grant you, on a yearly basis, additional warrants to purchase 12,000 of the Company’s ordinary shares, with an exercise price per share equal to the fair market value at the time of grant. These warrants will be
granted at the time of each annual meeting of the Company’s shareholders following the effective date of the Company’s anticipated initial public offering, being specified that the first grant shall not occur prior to the annual meeting to
be held in 2012. This warrants will vest as to 100% of the shares underlying the warrants on the earlier of the (i) one year anniversary of the date of grant and (ii) the date immediately preceding the date of the annual meeting of our
shareholders for the year following the year of grant, provided you continue to provide the Services to the Company as of such vesting date. 
 4. Expenses. The Company will reimburse you for reasonable travel and related expenses incurred in the course of performing the Services provided, however, that any expenses in excess of
$1,000 shall be approved in advance by the Company, and you shall provide written documentation of all expenses. 
 5.
Term and Termination. The term of this Agreement shall be for a period of three years from the Commencement Date, and may be renewed by mutual agreement of the parties; provided, however, that this Agreement may be terminated by either
party for any reason upon ten days prior written notice without further obligation or liability. 
 6. Independent
Contractor. Your relationship with the Company will be that of an independent contractor and not that of an employee. You will not be eligible for any employee benefits, nor will the Company make deductions from payments made to you for
employment or income taxes, all of which will be your responsibility. You agree to indemnify and hold the Company harmless from any liability for, or assessment of, any such taxes imposed on the Company by relevant taxing authorities. You will have
no authority to enter into contracts that bind the Company or create obligations on the part of the Company without the prior written authorization of the Company. 
 7. Nondisclosure of Confidential Information. You understand that you will obtain and have access to Proprietary Information of the Company. Accordingly, you agree to maintain in confidence
and not publish or otherwise disclose to third parties or use for any purpose other than providing the Services any Proprietary Information. “Proprietary Information” shall mean any information or other subject matter disclosed to or
developed by you in connection with your performance of the Services, and may include, by way of example, nonpublic information relating to inventions, products, research and development activities, business strategies, and financial status.
Notwithstanding the foregoing, Proprietary Information shall not include information that: (i) was publicly known and generally available in the public 

  
 -2-

 
domain prior to the time of disclosure to you; (ii) becomes publicly known and generally available after disclosure to you through no action or inaction of you; or (iii) is in your
possession, without confidentiality restrictions, at the time of disclosure as shown by your files and records immediately prior to the time of disclosure. 
 In addition, you may be in possession of confidential information developed in contexts other than your performance of the Services. You agree that all information disclosed by you to the Company may be
used by the Company without restriction. You will not disclose to the Company any information belonging to third parties that you know, suspect or should reasonably be expected to know is confidential and proprietary. 

8. Assignment of Intellectual Property. To the extent that, in the course of performing the Services, you jointly or solely
conceive, develop, or reduce to practice any invention, original works of authorship, development, concept, know-how, improvement or trade secret, whether or not patentable or registrable under copyright or similar laws, hereafter the
“Intellectual Property”, you assign to the Company, or its designees, without additional consideration, all your full right, title and interest, now existing or hereafter created, in and to all such Intellectual Property. As regards
copyright, such assignment shall notably comprise the rights of reproduction, adaptation, marketing. You agree that, during the term of this Agreement and subsequent to the completion or termination of this Agreement, you shall, at the
Company’s request and expense, execute all applications for French and foreign patents, trademarks, copyrights, or other rights, and will otherwise provide assistance (including but not limited to the execution and delivery of instruments of
further assurance or confirmation) to assign such Intellectual Property to or confirm ownership of such Intellectual Property by the Company and to permit the Company to enforce any patents, trademarks, copyrights, trade secrets or other rights in
and to such Intellectual Property. You shall not have any proprietary or other rights whatsoever in any of the Intellectual Property, and you shall not have the right or privilege to use any such Intellectual Property. 

9. No Conflicts. You represent that your compliance with the terms of this Agreement and provision of Services hereunder
will not violate any duty which you may have to any other person or entity (such as a present or former employer), including obligations concerning providing services to others, confidentiality of proprietary information and assignment of
inventions, ideas, patents or copyrights, and you agrees that you will not do anything in the performance of Services hereunder that would violate any such duty. 
 10. Miscellaneous. Any term of this Agreement may be amended or waived only with the written consent of the parties. This Agreement, including any exhibits hereto, constitutes the sole
agreement of the parties and supersedes all oral negotiations and prior writings with respect to the subject matter hereof. Any notice required or permitted by this Agreement shall be in writing and shall be deemed sufficient upon delivery, when
delivered personally or by overnight courier or sent by email or fax. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the Republic of France without giving effect to the principles of
conflict of laws. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together will constitute one and the same instrument. 

  
 -3-

 The parties have executed this Agreement as of the date first written above. 

 

			
	SEQUANS COMMUNICATIONS S.A.
		
	By:	 	  

		 	(Signature)
		
	Name:	 	  

	Title:	 	  

	
	Agreed and accepted:
	
	[NAME]
	
	  

	(Signature)
	
	Address:
	
                                        

	
                                        

  
 -4-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00186-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00186-of-00352.parquet"}]]