Document:

Exhibit
10.9

 

CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (i) NOT MATERIAL AND (ii) WOULD
BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED

 

FIRST
AMENDMENT TO AGREEMENT FOR PURCHASE AND SALE OF REAL

PROPERTY

 

THIS
FIRST AMENDMENT TO AGREEMENT FOR PURCHASE AND SALE OF REAL

PROPERTY
(this “Amendment”) is made effective as of the 11th day of August, 2021 (the “Effective Date”),
by and between [***] LLC, a Delaware limited liability company (“Seller”) and BELPOINTE PREP ACQUISITIONS,
LLC, a Connecticut limited liability company (“Buyer”).

 

RECITALS:

 

WHEREAS,
Buyer and Seller entered into that certain Agreement for Purchase and Sale of Real Property dated as of July 13, 2021 (the “Agreement”),
pursuant to which Seller has agreed to sell, and Buyer has agreed to purchase, certain real property and improvements located in [***],
Tennessee, and more particularly described in the Agreement as the “Property”, pursuant to the terms and conditions set forth
therein.

 

WHEREAS,
Seller and Buyer now desire to amend the Agreement to extend the Examination Period, subject to the terms and conditions set forth
herein.

 

NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants and agreements herein contained, the parties hereto covenant
and agree as follows:

 

1.
RECITALS. The foregoing recitals are hereby incorporated by this reference as if originally set forth herein.

 

2.
DEFINITIONS. Capitalized terms used but not defined herein shall have the meaning given to each in the Agreement.

 

3.
EXAMINATION PERIOD. Seller and Buyer hereby acknowledge and agree that Section 1 of the Agreement is hereby amended to extend
the “Examination Period” through and including 6:00 p.m. Eastern Time on August 31, 2021.

 

4.
RATIFICATION. Except as otherwise amended by this Amendment, the Agreement remains unmodified and unamended, and the Agreement,
as amended by this Amendment, is hereby ratified, confirmed, and remains in full force and effect. In the event of any inconsistency
or conflict between the Agreement and this Amendment, the terms of this Amendment shall control.

 

5.
COUNTERPARTS. This Amendment may be executed in multiple counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same document. The parties may deliver their respective counterparts by facsimile or in electronic
PDF format and such delivery shall be deemed effective and binding.

 

[Signature
pages follow]

 

    	 

     

    

 

IN
WITNESS WHEREOF, Seller and Buyer have caused this Amendment to be executed the day and year first above written.

 

	 	SELLER:
	 	 	 
	 	 	[***]
    LLC,
	 	 	a
    Delaware limited liability company
	 	 	 
	 	By:	 
	 	Name:	[***]
	 	Title:	[***]

 

    	 

     

    

 

	 	BUYER:
	 	BELPOINTE
    PREP ACQUISITIONS, LLC,
	 	a
    Connecticut limited liability company
	 	 	 
	 	By:	/s/
    Brandon Lacoff
	 	 	Brandon
    Lacoff
	 	 	Its
    Authorized SignerExhibit
10.10

 

CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (i) NOT MATERIAL AND (ii) WOULD
BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED

 

SECOND
AMENDMENT TO AGREEMENT FOR PURCHASE AND SALE OF REAL

PROPERTY

 

THIS
SECOND AMENDMENT TO AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY (this “Amendment”) is made effective as of the
31st day of August, 2021 (the “Effective Date”) by and between [***] LLC, a Delaware limited liability company
(“Seller”) and BELPOINTE PREP ACQUISITIONS, LLC, a Connecticut limited liability company (“Buyer”).

 

RECITALS:

 

WHEREAS,
Buyer and Seller entered into that certain Agreement for Purchase and Sale of Real Property dated as of July 13, 2021 (as amended
by that certain First Amendment to Agreement for Purchase and Sale of Real Property dated August 11, 2021, the “Agreement”),
pursuant to which Seller has agreed to sell, and Buyer has agreed to purchase, certain real property and improvements located in [***],
Tennessee, and more particularly described in the Agreement as the “Property”, pursuant to the terms and conditions set forth
therein.

 

WHEREAS,
Seller and Buyer now desire to amend the Agreement to extend the Examination Period, subject to the terms and conditions set forth
herein.

 

NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants and agreements herein contained, the parties hereto covenant
and agree as follows:

 

1.
RECITALS. The foregoing recitals are hereby incorporated by this reference as if originally set forth herein.

 

2.
DEFINITIONS. Capitalized terms used but not defined herein shall have the meaning given to each in the Agreement.

 

3.
EXAMINATION PERIOD. Seller and Buyer hereby acknowledge and agree that Section 1 of the Agreement is hereby amended to extend
the “Examination Period” through and including 6:00 p.m. Eastern Time on September 1, 2021.

 

4.
PURCHASE PRICE. Seller and Buyer hereby acknowledge and agree that the definition of the “Purchase Price” set forth
in Section 1 of the Agreement is hereby replaced with ‘‘the sum of Twenty Million Eight Hundred Twenty Five Thousand and
NO/100 DOLLARS ($20,825,000.00), payable in cash at Closing.”

 

5.
RATIFICATION. Except as otherwise amended by this Amendment, the Agreement remains unmodified and unamended, and the Agreement,
as amended by this Amendment, is hereby ratified, confirmed, and remains in full force and effect. In the event of any inconsistency
or conflict between the Agreement and this Amendment, the terms of this Amendment shall control.

 

6.
COUNTERPARTS. This Amendment may be executed in multiple counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same document. The parties may deliver their respective counterparts by facsimile or in electronic
PDF format and such delivery shall be deemed effective and binding.

 

[Signature
pages follow]

 

    	 

     

    

 

IN
WITNESS WHEREOF, Seller and Buyer have caused this Amendment to be executed the day and year first above written.

 

	 	SELLER:
	 	 
	 	[***]
    LLC,
	 	a
    Delaware limited liability company
	 	 	 
	 	By:	 
	 	Name:	[***]
	 	Title:	[***]

 

    	 

     

    

 

 

	 	BUYER:
	 	BELPOINTE
    PREP ACQUISITIONS, LLC,
	 	a
    Connecticut limited liability company
	 	 	 
	 	By:	/s/
    Brandon Lacoff
	 	 	Brandon
    Lacoff
	 	 	Its
    Authorized Signerex_302824.htm

Exhibit 10.1

 

November 3, 2021

 

ESOUSA Holdings, LLC

211 East 43rd Street, Suite 402

New York, NY 10017

Attention: Michael Wachs

E-mail: michael@esousallc.com   

 

	 	
			RE:

				
			Exercise price reduction offer of Purchase Warrants (as defined below)

			

 

On December 29, 2017, Net Element, Inc. (the “Company”), entered into, and consummated the transactions contemplated by, a Unit Purchase Agreement (the “Purchase Agreement”) with ESOUSA Holdings, LLC, a New York limited liability company (“ESOUSA”). Pursuant to the Purchase Agreement, on December 29, 2017, the Company sold to ESOUSA, among other securities, 404,676 five-year warrants to purchase shares of Company common stock (the “Purchase Warrants”) at a purchase price of $0.125 per share and exercise price of $11.12 per share. The resale of the shares acquired upon exercise of the Purchase Warrants (“Warrant Shares”) has been registered pursuant to a registration statement on Form S-3 (File No. 333-222466) (the “Registration Statement”).

 

The Company is pleased to offer to ESOUSA the opportunity to exercise of all, but not less than all, of the Purchase Warrants. In consideration for exercising by ESOUSA in full not later than November 4, 2021 (by paying the company in cash the exercise price and not by cashless exercise) all of the Purchase Warrants (the “Warrant Exercise”), the Company hereby offers ESOUSA a temporarily reduced exercise price of the Purchase Warrants to $6.796 per share. Such reduced exercise price of the Purchase Warrants will expire at 5:00 pm (New York City time) on November 5, 2021 and will automatically revert to the original exercise price of $11.12 per share if all of the Purchase Warrants are not exercised by ESOUSA on or before 5:00 pm (New York City time) on November 5, 2021. ESOUSA may accept this offer by signing this letter below, with such acceptance constituting ESOUSA’s exercise in full of the Purchase Warrants for an aggregate exercise price (payable by ESOUSA to the Company in cash) of $2,750,178.10 on or before 5:00 pm (New York City time) on November 4, 2021.

 

If this offer is accepted on or before on or before 5:00 pm (New York City time) on November 4, 2021, then on or before 9:00 a.m. (New York City time) on November 5, 2021, the Company shall file a Current Report on Form 8-K with the U.S. Securities and Exchange Commission disclosing all material terms of the transactions contemplated hereunder. The Company shall also file prospectus supplements to the Registration Statement disclosing the reduced exercise price of the Purchase Warrants within 2 business days after the exercise. ESOUSA agrees to comply with all applicable securities laws concerning any resale of the Warrant Shares. The terms of the Purchase Warrants, including, but not limited to, the obligations to deliver the Warrant Shares, shall otherwise remain in effect as if the acceptance of this offer were a formal notice of exercise.

 

To accept this offer, ESOUSA must counter execute this letter agreement and return the fully executed agreement to the Company on or before 5:00 pm (New York City time) on November 4, 2021.

 

	 	
			Sincerely yours,

			
	 	 
	 	
			NET ELEMENT, INC.

			
	 	 
	 	By:	  /s/ Oleg Firer	 
	 	 	Oleg Firer, CEO

 

Accepted and Agreed:

 

ESOUSA HOLDINGS, LLC

 

 

By: _/s/ Michael Wachs____

Name: Michael Wachs

Title: Managing Member

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