Document:

Exhibit 10.42

 

Form for Stand Down Agreement

 

 

August 1, 2013

 

CIG Wireless Corp.

5 Concourse Parkway, Suite 3100

Atlanta, Georgia 30328

Facsimile: (678) 332-5050

Attn: Paul McGinn, CEO

pmcginn@cigwireless.com

 

Re:  Stand Down Agreement

 

Ladies and Gentlemen:

 

Each of the undersigned understands that
CIG Wireless Corp., a Nevada corporation (the “Company”) is entering into a Securities Purchase Agreement, of
even date herewith, by and among the Company, on the one hand, and each of the undersigned investors (the “Investors”),
on the other hand (the “Purchase Agreement”), pursuant to which the Company is issuing, on the date hereof,
and, may issue in one or more closings, shares of the Company’s Series A-1 Non-Convertible Preferred Stock, par value $0.00001
per share (“Series A-1 Preferred Stock”) and shares of the Company’s Series A-2 Convertible Preferred
Stock, par value $0.00001 per share (“Series A-2 Preferred Stock”) to the Investors as described in the Purchase
Agreement (the “Transaction”).

 

In consideration of the execution of the
Purchase Agreement by the Company, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, each of the Investors hereby agrees that, except as otherwise expressly provided herein, such Investor will not,
during the period commencing on the date hereof and ending on the earlier of (i) December 31, 2014; or (ii) termination
of this Agreement by its terms prior to the foregoing date (the “Market Stand Down Period”), directly or indirectly
(1) offer, assign, publicly announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase
any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, any
shares of common stock of the Company, par value $0.00001 per share (“Common Stock”) owned either of record
or beneficially (as defined in the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) by such
Investor on the date hereof or acquired during the Market Stand Down Period; or (2) enter into any swap or other agreement or arrangement
(other than cash settled swaps) that transfers, in whole or in part, any of the economic consequences of ownership of the Common
Stock, whether any such transaction described in clause (1) or (2) above is to be settled by delivery of Common Stock or such other
securities, in cash (except in the case of cash settled swaps) or otherwise, or publicly announce an intention to do any of the
foregoing.

 

    	 

    	 

    

 

	CIG Wireless Corp. – Stand Down Agreement

 

The foregoing sentence shall not apply
to the following:

 

(i) the sale of shares
of Common Stock acquired by such Investor in any underwritten public offering of the Company during the Market Stand Down Period;

 

(ii) transactions relating
to shares of Common Stock acquired in open market transactions;

 

(iii) transfers of
shares of Common Stock or any security directly or indirectly convertible into or exercisable or exchangeable for Common Stock
as a bona fide gift or in connection with estate planning, including but not limited to, dispositions to any trust for the direct
or indirect benefit of such Investor and/or the immediate family of such Investor and dispositions from any grantor retained annuity
trust established for the direct benefit of such Investor and/or a member of the immediate family of such Investor, or by will
or intestacy;

 

(iv) transfers or distributions
of shares of Common Stock or any security directly or indirectly convertible into or exercisable or exchangeable for Common Stock
to limited partners, members, stockholders or affiliates of such Investor, or to any partnership, corporation, limited liability
company or pooled investment vehicle controlled or managed by such Investor or by a member of the immediate family of such Investor,
provided that such entities and/or persons shall remain subject to the terms and conditions of this Agreement;

 

(v) the establishment
of a trading plan pursuant to Rule 10b 5-1 under the Exchange Act for the transfer of shares of Common Stock, provided that such
plan does not provide for the transfer of Common Stock during the Market Stand Down Period, provided ̧ however, that (a) in
the case of any transfer or distribution pursuant to clause (iii) or (iv), each donee or distributee shall sign and deliver an
agreement substantially in the form of this letter agreement (this “Agreement”) and (b) in the case of any transaction
pursuant to clauses (iii), (iv) or (v), such transaction is not required to be registered or reported during the Market Stand Down
Period by anyone in any public report or filing with the Securities and Exchange Commission or otherwise (other than a required
filing on Form 5, Form 4 or Form 3, Schedule 13D or Schedule 13G (or 13D-A or 13G-A) and no such filing shall be made voluntarily
during the Market Stand Down Period;

 

(vi) the conversion
of any shares of Series A-2 Preferred Stock; provided, however, the shares of Common Stock issuable upon such conversion thereof
shall continue to be subject to the restrictions provided for in this Agreement;

 

(vii) the public or
private sale of shares of Common Stock by such Investor, to the extent permitted under Rule 144 promulgated under the Securities
Act of 1933, as amended (the “Securities Act”), provided the maximum aggregate number of shares of Common Stock
such Investor may transfer in any 90-day period shall not exceed one percent (1%) of the total issued and outstanding shares of
Common Stock, as calculated in accordance with Rule 144(e); or

 

(viii) any private
sale, gift, transfer or other disposition of shares of Common Stock under Regulation S promulgated under the Securities Act, pursuant
to which the recipient of such shares of Common Stock executes and delivers an enforceable form of this Agreement to the Company
prior to the effectiveness of such transaction.

 

    	2

    	 

    

 

	CIG Wireless Corp. – Stand Down Agreement

 

Notwithstanding the foregoing, this Agreement
shall not restrict any transfer, sale or other disposition, of any shares of Series A-1 Preferred Stock or Series A-2 Preferred
Stock; provided, however, the shares of Common Stock issuable upon conversion of Series A-2 Preferred Stock shall continue to be
subject to the restrictions provided for in this Agreement.

 

Each of the Investors hereby represents
and warrants that such Investor has full power and authority to enter into this Agreement. Each of the Investors understands that
the Company is relying upon this Agreement in consummating the Transaction. Each of the Investors further understands that this
Agreement is irrevocable and shall be binding upon such Investor’s successors and assigns.

 

This Agreement shall automatically terminate
upon the earliest to occur of: (a) any expiration, termination or waiver of any similar version of this Agreement now or hereafter
executed by any other shareholder of the Company which would authorize or facilitate, directly or indirectly, disposition of any
shares of Common Stock in the public capital markets (and the Company shall promptly notify the Investors within one (1) Business
Day of any such termination event); (b) the occurrence of any Event of Default (as defined in the Purchase Agreement); or
(c) at 11:59 pm Eastern Standard Time on December 31, 2014.

 

This Agreement shall be governed by and
construed in accordance with the laws of the State of New York, without regard to the conflict of laws principles thereof. This
Agreement constitutes the entire agreement, and supersedes all prior agreements, of the parties hereto relating to the subject
matter hereof, and there are no written or oral terms or representations made by either party other than those contained herein.
This Agreement cannot be modified, altered or amended except by a writing signed by the Company and each of the Investors to which
such modification, alteration or amendment applies. No waiver by either party of any provision or condition of this Agreement at
any time shall be deemed a waiver of such provision or condition at any prior or subsequent time or of any other provision or condition
at the same or any prior or subsequent time. If any provision contained in this Agreement is invalid, the provisions of this Agreement
shall not be rendered void but shall be deemed amended to apply as to such maximum time and territory and to such other extent
as such court may determine or indicate to be reasonable. This Agreement may be executed in several counterparts, each of which
shall be deemed to be an original but all of which together will constitute one and the same instrument, and may be delivered via
facsimile, “pdf” or any other mode of electronic delivery which shall be an original for all purposes.

 

Any notice required or permitted under
this Agreement shall be deemed to have been effectively made or given if in writing and personally delivered, or sent properly
addressed in a sealed envelope postage prepaid by certified or registered mail, or delivered by a reputable overnight delivery
service, with copy via facsimile or e-mail. Unless otherwise changed by notice given in accordance with one of the foregoing methods
of delivery, notice shall be properly addressed to the respective address of each party set forth on the signature page hereto.

 

[Signature Page Follows]

 

    	3

    	 

    

 

	CIG Wireless Corp. – Stand Down Agreement

 

Very truly yours,

 

See attached Schedule I

 

	By: 	 
	 	Name: 
	 	Title: 
	 	Address for Notices: 

 

Acknowledged and Agreed: 

 

CIG Wireless Corp.

 

	By: 	/s/ Paul McGinn
	 	Name: Paul McGinn
	 	Title: CEO
	 	Address for Notices: 
	 	CIG Wireless Corp.
	 	5 Concourse Parkway, Suite 3100
	 	Atlanta, Georgia 30328
	 	Facsimile:  (678) 332-5050
	 	Attn: Paul McGinn, CEO
	 	pmcginn@cigwireless.com
	 	 
	 	with copy to:
	 	 
	 	
        Wuersch & Gering LLP

        Attention: Travis L. Gering,
        Esq.

        100 Wall Street, 10th Floor

        New York, New York 10005

        Facsimile: 610-819-9104

        travis.gering@wg-law.com

 

    	4

    	 

    

 

	CIG Wireless Corp. – Stand Down Agreement

 

List of Signatories to the Stand Down Agreement

 

Chesapeake Towers Development, LLC

 

Compartment IT2, LP

 

Compartment IT5, LP

 

Compartment IT9, LP

 

ENEX Group Management, S.A.

 

Eric Sivertsen

 

Fir Tree Capital Opportunity (LN) Master Fund, LP

 

Fir Tree Ref III Tower LLC

 

Gabriel Margent

 

Gert Rieder

 

Grant Barber

 

Housatonic Equity Affiliates IV, L.P.

 

Housatonic Equity Investors IV, L.P.

 

Michael Hofe

 

Paul McGinn

 

Romain Gay-Crosier

 

Sebastien Koechli

 

Wireless Investment Fund AG

 

    	5Exhibit 10.43

 

AMENDMENT NO. 3

 TO THE

 AMENDED AND RESTATED

 LIMITED LIABILITY COMPANY OPERATING
AGREEMENT, DATED JUNE 30, 2012

 OF

 COMMUNICATIONS INFRASTRUCTURE
GROUP, LLC

(a Delaware limited liability company)

 

THIS AMENDMENT NO. 3, dated as of August
1, 2013 (this “AMENDMENT NO. 3”), to the Amended and Restated Limited Liability Company Operating Agreement of Communications
Infrastructure Group, LLC Dated June 30, 2012, is hereby made by and among:

 

COMPARTMENT IT2, LP, a
Georgia Limited Partnership (“Compartment IT2”), by action of IAM US, LLC, a Delaware limited liability company, its
General Partner (the “General Partner”);

 

COMPARTMENT IT5, LP, a
Georgia Limited Partnership (“Compartment IT5”), by action of the General Partner;

 

COMPARTMENT IT9, LP, a
Georgia Limited Partnership (“Compartment IT9”), by action of the General Partner;

 

CIG TOWERS, LLC, a Delaware
limited liability Company (“CIGT”), by action of its Manager, CIG Solutions, LLC, a Delaware limited liability Company;

 

CIG SOLUTIONS, LLC, a
Delaware limited liability company (the “Manager”); and

 

COMMUNICATIONS INFRASTRUCTURE
GROUP, LLC, a Delaware limited liability company (the “Company”), by action of the Manager;

 

CIG WIRELESS CORP., a
Nevada corporation (the “Parent”).

 

Capitalized terms not defined herein shall
have the meanings ascribed to them in the Amended and Restated Limited Liability Company Operating Agreement, dated June 30, 2012
(the “Operating Agreement”).

 

RECITALS:

 

WHEREAS, the
Company, the Parent, the Manager, Compartment IT2, Compartment IT5, Compartment IT9 and CIGT (collectively, the “Parties”)
previously entered into the Operating Agreement and an Amendment No. 2, dated as of December 31, 2012 (the “Amendment No.
2”);

 

WHEREAS, the
Class A Interests shall continue not to be subject to full cost accounting and the Parties desire to clarify the calculation of
Funds Available For Class A-IT2 Distribution, Funds Available For Class A-IT5 Distribution, Funds Available For Class A-IT9 Distribution
and Funds Available For Class A Distribution;

 

    	1

    	 

    

 

	AMENDMENT NO. 3
	Amended And Restated Limited Liability Company Operating Agreement
	Communications Infrastructure Group, LLC

 

WHEREAS, the
Parties desire to establish a fixed conversion price of $1.00 per share of for the conversion of the Class A Interests into Common
Stock;

 

WHEREAS, on
or about the date hereof, the Parent is entering into a Securities Purchase Agreement, by and among the Parent, on the one hand,
and each of the investors set forth on the signature pages affixed thereto (the “Series A Investors”), on the
other hand (the “Securities Purchase Agreement”), pursuant to which the Parent is issuing, on the date hereof,
and, may issue in one or more closings, shares of the Parent’s Series A-1 Non-Convertible Preferred Stock, par value $0.0001
per share (“Series A-1 Preferred Stock”) and shares of the Parent’s Series A-2 Convertible Preferred
Stock, par value $0.0001 per share (“Series A-2 Preferred Stock”) to the Series A Investors as described in
the Securities Purchase Agreement (the “Financing Transaction”);

 

WHEREAS, in
accordance with the Securities Purchase Agreement and in order to induce the Series A Investors to consummate the Financing Transaction,
the Company and Members have agreed to include certain provisions in this AMENDMENT NO. 3 for the express benefit of the Series
A Investors, pursuant to which, among other things, all Class A Interests, and all preferences, privileges, rights or powers in
respect thereof, will be subordinated, as and to the extent set forth in this AMENDMENT NO. 3, to the Series A Investors with respect
to all the Series A-1 Preferred Stock and Series A-2 Preferred Stock; and

 

WHEREAS, each
of the Parties has hereby determined that it is in its best interest to amend the Operating Agreement pursuant to the authority
granted by Section 12.1 of the Operating Agreement.

 

NOW, THEREFORE,
for and in consideration of the premises and mutual agreements contained herein, and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the Parties agree that the following provisions of the Operating Agreement
are amended as follows:

 

		1.	Paragraph (a) of Section 10.4 of the Operating Agreement is hereby deleted in its entirety and
replaced in its entirety as follows:

 

“(a)          The
Class A Interests shall be convertible into shares of the Parent’s common stock, par value $0.00001 per share (the “Common
Stock”) within ten (10) Business Days’ following receipt of written notice by the Class A Member delivered to the
Manager requesting such conversion (the “Conversion Date”);

 

(i)         The
Class A Interests will convert into such number of shares of Common Stock equal to: (x) the respective Class A conversion value
set forth in clause 10.4(a)(ii) below (the “Conversion Value”); divided by (y) One U.S. Dollar (USD
$1.00) (the “Initial Conversion Price).

 

    	2

    	 

    

 

	AMENDMENT NO. 3
	Amended And Restated Limited Liability Company Operating Agreement
	Communications Infrastructure Group, LLC

 

(ii)          Class
A Conversion Values:

 

Class A-IT2 Interests: Seven Million,
Fifty Thousand, Eight Hundred Eleven U.S. Dollars ($7,050,811);

 

Class A-IT-5 Interests: Three Million,
Nine Hundred Fifty Nine Thousand, One Hundred Eighteen U.S. Dollars ($3,959,118);

 

Class A-IT9 Interests: Five Hundred
Eight Thousand, Nine Hundred Seventy One U.S. Dollars ($508,971).

 

(iii)        The
Company represents and confirms to the General Partner of each of the Compartments, IAM US, LLC, and its Managing Director, MfAM
Mobilfunk Asset Management GmbH, that the Class A Conversion Values set forth above in clause ii) of this paragraph (a) of this
Section 10.4, have been calculated correctly and on an arms-length basis.

 

(iv)        Except
with respect to the limited exception for conversion and sales of Common Stock as set forth in clause (v) of this paragraph (a)
of this Section 10.4, the conversion rights provided herein may be exercised at any time, but only in full and not in part,
and therefore immediately following any such conversion, the Class A Member’s Capital Account will be reduced to zero. All
such shares of Common Stock as and when issued by the Parent pursuant to conversion hereof, shall be duly authorized, fully paid,
validly issued and non-assessable.

 

(v)         Notwithstanding
any other provision of this Agreement, each Class A Member shall have the right to convert their respective Class A Interests
to Common Stock and sell such Common Stock, provided that: (x) all such sales of Common Stock must comply with Rule 144 of the
Securities Act; and (y) the aggregate of all such shares of Common Stock sold during any 90 day period may not exceed more than
one percent (1%) of the total issued and outstanding shares of Common Stock of the Parent as of the date of conversion. Each Class
A Member shall comply with any and all other applicable laws, rules and regulations pertaining such conversions and sales, including
without limitation, prohibitions on engaging in securities transactions while in possession of material non-public information
concerning the Company. Any and all such conversions shall reduce the respective Class A Conversion Value of the converting Class
A Member, dollar for dollar.”

 

		2.	Paragraph (e) of Section 10.4 of the Operating Agreement is hereby deleted in its entirety and
replaced in its entirety as follows:

 

“The
rights of conversion set forth in this Section 10.4 may only be exercised in whole and not in part.”

 

    	3

    	 

    

 

	AMENDMENT NO. 3
	Amended And Restated Limited Liability Company Operating Agreement
	Communications Infrastructure Group, LLC

 

		3.	For purposes of clarity, (i) the Class A Interest shall continue not to be subject to full cost
accounting and (ii) the Funds Available For Class A-IT2 Distribution, Funds Available For Class A-IT5 Distribution, Funds Available
For Class A-IT9 Distribution and Funds Available For Class A Distribution shall be calculated in accordance with the Operating
Agreement notwithstanding anything contained in Sections 2 and 8 of the Amendment No. 2.

 

		4.	Section 7 of the Amendment No. 2 is hereby deleted in its entirety and replaced in its entirety
in this AMENDMENT NO. 3 as follows:

 

“No adjustments
shall be made to Initial Conversion Price on or after the date hereof other than pursuant to the adjustments provided in Section
10.4(b) of the Operating Agreement. No upward adjustments, and except in connection with conversions and distributions no downward
adjustments, shall be made to the respective Conversion Value of any Class A Interests. The aggregate of any and all distributions
made to the holders of Class A Interests for any and all reasons with respect to the Conversion Value shall not exceed the respective
amount of the Conversion Value for each such Class A Interest as set forth in set forth in Section 10.4(a)(ii) of the Operating
Agreement contained in this AMENDMENT NO. 3. Any and all cash or In-Kind distributions made pursuant to the Operating Agreement
shall be subject to, respectively, the Funds Available For Class A-IT2 Distribution as applied to the Class A-IT2 Interests, Funds
Available For Class A-IT5 Distribution as applied to the Class A-IT5 Interests, Funds Available For Class A-IT9 Distribution as
applied to the Class A IT9 Interests, and Funds Available For Class A Distribution as applied to the Class A Interests generally.”

 

		5.	The definition of “Adjusted Conversion Price” shall be deleted from Section 1.1 Certain
Definitions of the Operating Agreement contained in Amendment No. 2.

 

		6.	The definition of “Credit Agreement” shall be deleted from Section 1.1 Certain Definitions
of the Operating Agreement in its entirety and replaced in its entirety as follows:

 

“Credit
Agreement” means that certain Credit Agreement, dated as of August 17, 2012, by and among CIG Comp Tower, LLC, as borrower,
the lenders from time to time party thereto, as lenders, and Macquarie Bank Limited, as administrative agent and collateral agent.”

 

		7.	Section 1.1 Certain Definitions of the Operating Agreement is hereby amended by adding the following
definitions in correct alphabetical order:

 

“Requisite
Series A Investors” means, as of any date of determination, (a) the holders of at least two-thirds of the then outstanding
shares of Series A-1 Preferred Stock and (b) the holders of at least two-thirds of the then outstanding shares of Series A-2
Preferred Stock, each voting separately as a class.

 

    	4

    	 

    

 

	AMENDMENT NO. 3
	Amended And Restated Limited Liability Company Operating Agreement
	Communications Infrastructure Group, LLC

 

“Restricted
Payment” means: (a) the declaration or making by the Company of any distribution (whether in cash, securities or other
property) with respect to any Interests of the Company; and (b) any payment or other transfer of value (whether in cash or In Kind)
by the Company to any owner of any Interests in the Company, including any sinking fund or similar deposit, on account of the purchase,
redemption, retirement, acquisition, exchange, revolving, cancellation or termination of any Interests in the Company.

 

“Senior
Obligations” has the meaning set forth in Section 13.19 hereof.

 

“Series
A Certificate of Designation” means the Certificate of Designation, Preferences and Rights of the Series A-1 Preferred
Stock and Series A-2 Preferred Stock, as it may be amended from time to time.

 

“Series
A Investors” means, as of any date of determination, the holders of the then outstanding shares of (a) Series A-1
Preferred Stock and (b) Series A-2 Preferred Stock.

 

“Series
A-1 Preferred Stock” means the Parent’s Series A-1 Non-Convertible Preferred Stock, par value $0.00001 per share.

 

“Series
A-2 Preferred Stock” means the Parent’s Series A-2 Convertible Preferred Stock, par value $0.00001 per share.

 

		8.	Section 2.8 Business Purpose of the Operating Agreement is hereby amended by deleting such Section
2.8 in its entirety and replacing such Section 2.8 in its entirety with the following:

 

“2.8
Business Purpose.

 

The business
purposes of the Company shall be to conduct business, directly or through its Subsidiaries, in the United States of America, of
the development and leasing of telecommunications Towers and related facilities, including, without limitation, identification
of possible locations for Towers; development of potential locations for Towers; erection and leasing of Towers to telecommunications
companies and other lessees; service and maintenance for the Company’s own Towers and Towers managed by third parties; brokerage,
sales, and commercial dealings concerning poles and similar operating equipment; and sales of further products and services developed
by the Company, in accordance with the Schedule B hereto setting forth the Assets and Investment Criteria qualified for
acquisition; and to enter into any and all agreements related to the Credit Agreement or the Securities Purchase Agreement and
to take any and all actions related thereto, including, without limitation: (a) the guarantee of all obligations under the
Credit Agreement and pledge of assets of the Company and its Subsidiaries as collateral thereto, and the consent to any and all
security agreements and servicing arrangements in connection therewith; (b) the guarantee of all Senior Obligations; and (c) any
and all activities ancillary or related to the foregoing, including without limitation the items expressly permitted in the last
sentence of Section 6.2 hereof (collectively, the “Business Purpose”).”

 

    	5

    	 

    

 

	AMENDMENT NO. 3
	Amended And Restated Limited Liability Company Operating Agreement
	Communications Infrastructure Group, LLC

 

		9.	Section 6.2 Management Restrictions is hereby amended by deleting the last sentence of such Section
6.2 in its entirety and replacing such sentence in its entirety with the following:

 

“Notwithstanding
the foregoing or anything to the contrary herein, the Company is expressly permitted to (a) guaranty indebtedness of its Subsidiaries,
to pledge all of its assets to secure such guaranty and indebtedness, and to enter into any and all other transactions and Company
actions contemplated by the Credit; and (b) guaranty any and all Senior Obligations.”

 

		10.	Section 12.1 Amendments and Waivers of the Operating Agreement is hereby amended by deleting the
second sentence of such Section 12.1 in its entirety and replacing such sentence in its entirety with the following:

 

“However,
notwithstanding anything to the contrary contained herein, this Agreement may be amended or modified by the Manager (without the
consent of the Members but subject to the consent of the Series A Investors as provided below) if such actions do not adversely
affect the Class A Members; reflect the issuance of new Interests to the Management Member, the Transfer of Interests, the admission
of additional Management Members, changes in Percentage Interests and the making of additional Capital Contributions in accordance
with the operation of this Agreement; provided that, for so long as any shares of Series A-1 Preferred Stock or Series A-2 Preferred
Stock remain outstanding, this Agreement shall not be amended, modified or waived in any respect unless such amendment, modification
or waiver is approved in advance in writing by the Requisite Series A Investors.”

 

		11.	There shall be added to the Operating Agreement a new Section 13.19, which shall read in its entirety
as follows:

 

“13.19         Limitation
on Distributions; Subordination of Interests.

 

(a)          Anything
herein to the contrary notwithstanding, so long as any shares of Series A-1 Preferred Stock or Series A-2 Preferred Stock
remain outstanding, without the prior affirmative vote or prior written consent of the Requisite Series A Investors, the Company
shall not, directly or indirectly, declare or make, and no Member or holder of any Interest shall be entitled to receive or retain,
any Restricted Payment. For purposes of clarity, the intent of this Section 13.19 is that
all Interests, including, without limitation, all Class A Interests, and all preferences, privileges, rights or powers in respect
thereof, are subordinated, in all respects, in right of payment to all obligations of the Parent and/or the Company, whether direct
or indirect, to the Series A Investors in respect of Series A-1 Preferred Stock and Series A-2 Preferred Stock now existing or
hereafter arising, together with all costs of collecting such obligations (including reasonable attorneys’ fees and expenses),
including without limitation, all amounts accruing after the commencement by or against the Parent and/or the Company of any bankruptcy,
reorganization or similar proceeding, and all obligations under the Securities Purchase Agreement or the Series A Certificate of
Designation, including, without limitation, any Series A-1 Preferred Dividends (as defined in the Series A Certificate of Designation)
and any payments due upon any redemption of Series A-1 Preferred Stock or Series A-2 Preferred Stock or upon a Liquidation
Event (as defined in the Series A Certificate of Designation), whether any such payments are due in cash, additional shares of
Series A-2 Preferred Stock, or otherwise (the “Senior Obligations”). Senior Obligations shall continue
to constitute Senior Obligations, notwithstanding the fact that such Senior Obligations or any claim for such Senior Obligations
is subordinated, avoided, or disallowed under the federal Bankruptcy Code or other applicable law. Any Senior Obligations shall
be reinstated, if after payment thereof, they are returned, disgorged or otherwise repaid by any Series A Investor to or for the
benefit of the Parent or its creditors.

 

    	6

    	 

    

 

	AMENDMENT NO. 3
	Amended And Restated Limited Liability Company Operating Agreement
	Communications Infrastructure Group, LLC

 

(b)          Should
any Restricted Payment be collected or received by a Member or any of its Affiliates, then such Member will forthwith (in no event
more than two (2) Business Days) deliver, or cause any such Affiliate to deliver, the same to the Parent, on behalf and for the
benefit of the Series A Investors, in precisely the form held by the Member or any such Affiliate, (except for any necessary
endorsement) and until so delivered, the same shall be held in trust by the Member, or any such Affiliate, as the property of the
Series A Investors in respect of the Senior Obligations and shall not be commingled with other property of the Member or any such
Affiliate and all Senior Obligations shall be paid in full before any payment or distribution is made to any Member.

 

(c)          In
the event of any of the Company’s, the Parent’s or their Affiliate’s insolvency, reorganization or any case or
proceeding under any bankruptcy or insolvency law or laws relating to the relief of debtors or equityholders, the provisions of
this Section 13.19 shall remain in full force and effect, except that any proceeds received by a Member shall constitute
a “Restricted Payment” for purposes of this Agreement and shall be subject to the automatic turnover provisions set
forth in Section 13.19(b) above.

 

(d)          Each
Series A Investor is an unqualified, express intended third party beneficiary of this Agreement and shall have the right to assert
and enforce the provisions of this Agreement directly against the Company and/or any Member directly on its own behalf.

 

(e)          The
Parent, the Company and each Member agrees, jointly and severally, to indemnify the Series A Investors in their capacity as such,
from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or
disbursements of any kind whatsoever that may at any time be imposed on, incurred by or asserted against such Series A Investor
in any way relating to or arising out of, this Agreement or the transactions contemplated hereby or any action taken or omitted
to be taken by any Series A Investor under or in connection with any of the foregoing; provided that neither the Company nor any
Member shall be liable for the payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses or disbursements to any Series A Investor that are found by a final and nonappealable decision of a court
of competent jurisdiction to have resulted from such Series A Investor’s gross negligence or willful misconduct. The agreements
in this Section 13.19(e) shall survive the payment of the Senior Obligations.

 

    	7

    	 

    

 

	AMENDMENT NO. 3
	Amended And Restated Limited Liability Company Operating Agreement
	Communications Infrastructure Group, LLC

 

(f)          This
Section 13.19 shall terminate and be of no further force and effect at such time as there are no longer any shares of Series
A-1 Preferred Stock or Series A-2 Preferred Stock issued and outstanding provided that all Senior Obligations shall have been indefeasible
paid in full. Notwithstanding the foregoing, Section 13.19(e) shall survive indefinitely.

 

(g)          For
the avoidance of doubt, nothing in this Section 13.19 shall restrict or prohibit any Class A Member from exercising its
conversion rights with respect to any Class A Interests pursuant to, and in accordance with, Section 10.4 of this Agreement.”

 

		12.	Each of the Parties acknowledges that this AMENDMENT NO. 3 is being entered into in accordance
with the Securities Purchase Agreement and in order to induce the Series A Investors to consummate the Financing Transaction. Each
of the Parties hereby represents and warrants that it has full power and authority to enter into this AMENDMENT NO. 3 and understands
that the Series A Investors are relying upon this AMENDMENT NO. 3 in consummating the Financing Transaction.

 

		13.	All terms, conditions and provisions of the Operating Agreement and Amendment No. 2 shall remain
in full force and effect as therein written, except as modified or amended by this AMENDMENT NO. 3, as to which such terms, conditions
and provisions of the Operating Agreement are hereby ratified and confirmed in all respects.

 

		14.	This AMENDMENT NO. 3 shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns.

 

		15.	If any provision of this AMENDMENT NO. 3 or the application thereof to any person or circumstance
shall be invalid or unenforceable to any extent, the remainder of this AMENDMENT NO. 3 and the application of such provisions to
other persons or circumstances shall not be affected thereby and shall be enforced to the greatest extent permitted by law.

 

		16.	This AMENDMENT NO. 3 may be executed in multiple counterparts, each of which shall constitute an
original, but all of which together shall constitute but one instrument.

 

		17.	In the event of any conflict or inconsistency between the provisions of this AMENDMENT NO. 3, on
the one hand, and the provisions of the Operating Agreement or Amendment No. 2, on the other hand, the provisions of this AMENDMENT
NO. 3 shall govern and control to the extent of such conflict or inconsistency.

 

		18.	Time is of the essence for the performance of the obligations set forth in this AMENDMENT NO. 3.

 

[SIGNATURE PAGES FOLLOW]

 

    	8

    	 

    

 

	AMENDMENT NO. 3
	Amended And Restated Limited Liability Company Operating Agreement
	Communications Infrastructure Group, LLC

 

IN WITNESS WHEREOF, the parties hereto
have entered into this AMENDMENT NO. 3 as of the date first above set forth.

 

	COMPANY:	COMMUNICATIONS INFRASTRUCTURE GROUP, LLC
	 	 	 	 

	By:	CIG SOLUTIONS, LLC
	 	Manager
	 	 	 	 
	 	By:	/s/ Paul McGinn
	 	 	Name:	Paul McGinn 
	 	 	Title:	Chief Executive Officer
	 	 	 	 
	MANAGER:	CIG SOLUTIONS, LLC
	 	 	 	 
	By:	/s/ Paul McGinn
	 	Name:	Paul McGinn
	 	Title:	Chief Executive Officer
	 	 	 	 
	MANAGEMENT MEMBER:  CIG TOWERS, LLC
	 	 	 	 
	By:	CIG SOLUTIONS, LLC
	 	Manager
	 	 	 	 
	 	By:	/s/ Paul McGinn
	 	 	Name:	Paul McGinn 
	 	 	Title:	Chief Executive Officer
	 	 	 	 
	PARENT:	CIG WIRELESS CORP. 
	 	 	 	 
	By:	/s/ Paul McGinn
	 	Name:	Paul McGinn
	 	Title:	Chief Executive Officer

 

    	9

    	 

    

 

	AMENDMENT NO. 3
	Amended And Restated Limited Liability Company Operating Agreement
	Communications Infrastructure Group, LLC

 

	CLASS A MEMBERS:
	 	 	 	 
	CLASS A-IT2 MEMBER:  COMPARTMENT IT2, LP

 

	BY:	IAM US, LLC
	 	General Partner
	 	 	 	 
	 	BY:	MfAM Mobilfunk Asset Management GmbH
	 	 	Managing Director
	 	 	 	 
	 	 	BY:	/s/ Stephan Bruckl
	 	 	 	Name: Stephan Brückl
	 	 	 	Title:  Managing Director
	 	 	 	 
	CLASS A-IT5 MEMBER:  COMPARTMENT IT5, LP
	 	 	 	 
	BY:	IAM US, LLC	 
	 	General Partner	 
	 	 	 	 
	 	BY:	MfAM Mobilfunk Asset Management GmbH
	 	 	Managing Director
	 	 	 	 
	 	 	BY:	/s/ Stephan Bruckl
	 	 	 	Name: Stephan Brückl
	 	 	 	Title:  Managing Director
	 	 	 	 
	CLASS A-IT9 MEMBER: COMPARTMENT IT9, LP
	 	 	 	 
	BY:	IAM US, LLC
	 	General Partner
	 	 	 	 
	 	BY:	MfAM Mobilfunk Asset Management GmbH
	 	 	Managing Director
	 	 	 	 
	 	 	BY:	/s/ Stephan Bruckl
	 	 	 	Name: Stephan Brückl
	 	 	 	Title:  Managing Director

 

    	10

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