Document:

EXHIBIT 10.2

 

STOCK PURCHASE AGREEMENT

 

THIS STOCK PURCHASE AGREEMENT (the “Agreement”)
is made and entered into this 1st day of March, 2013 by and between LUSTROS, INC., a Utah corporation (“LUSTROS”),
and Angelique de Maison, an individual (“Purchaser”). LUSTROS and Purchaser shall be individually referred
to herein as a “Party” and collectively as the “Parties”.

 

NOW, THEREFORE, in consideration of the
premises, and of the promises, covenants and conditions contained herein, the Parties intending to be legally bound, hereby agree
as follows:

 

ARTICLE
1

PURCHASE OF SHARES

 

1.1             
LUSTROS hereby issues and sells to Purchaser, and Purchaser hereby purchases from LUSTROS, 181,818 shares of LUSTROS’
Common Stock, $.001 par value (the “LUSTROS Shares”), in consideration for $0.55 per share or a total of $100,000
(the “Purchase Price”).

 

1.2             
The Purchase Price shall be paid in installments as required by LUSTROS or LUSTROS’ operating division, Lustros
Chile SpA.

 

1.3             
Shares will be issued in increments after each payment is received.

 

ARTICLE
2

REPRESENTATIONS AND WARRANTIES

 

2.1             
Representations by Purchaser. Purchaser hereby represents, warrants, covenants and acknowledges that:

 

(a)               
Purchaser has the authority to enter into this Agreement and when this Agreement is executed and delivered, it shall
constitute a legal, valid and binding obligation, enforceable against Purchaser in accordance with its terms.

 

(b)              
The execution and delivery of this Agreement and the performance of the obligations imposed hereunder will not conflict
with, or result in a breach by Purchaser of any material agreement or instrument to which she is a party, or by which she or any
of her properties or assets are bound, or result in a violation of any order, decree, or judgment of any court or governmental
agency having jurisdiction over her or her properties, will not conflict with, constitute a default under, or result in the breach
of, any contract, agreement, or other instrument to which she is a party or is otherwise bound and no consent, authorization or
order of, or filing or registration with, any court, governmental, or regulatory authority is required in connection with the execution
and delivery of this Agreement and any related agreements or the performance by her of her obligations hereunder.

 

    	1

    	 	

    
 

(c)               
Purchaser understands and acknowledges that (i) the LUSTROS Shares being offered and sold
to her hereunder are being offered and sold without registration under the Securities Act of 1933, as amended (the “Securities
Act”) in a private placement that is exempt from the registration provisions of the Securities Act under Section 4(2)
of the Securities Act and Regulation D; (ii) Purchaser is an “accredited investor” within the meaning of Regulation
D under the Securities Act and (iii) the availability of such exemption depends in part on, and that LUSTROS will rely upon the
accuracy and truthfulness of, the foregoing representations and Purchaser hereby consents to such reliance.

 

(d)              
Purchaser is acquiring the LUSTROS Shares for her own account for investment purposes
only and not with a view to or for distributing or reselling such LUSTROS Shares, or any part thereof or interest therein, without
prejudice, however, to such Purchaser’s right, subject to the provisions of this Agreement, at all times to sell or otherwise
dispose of all or any part of such LUSTROS Shares in compliance with applicable United States securities laws.

 

(e)               
Purchaser, either alone or together with her representatives, has such knowledge, sophistication
and experience in business and financial matters so as to be capable of evaluating the merits and risks of an investment in the
LUSTROS Shares, and has so evaluated the merits and risks of such investment; Purchaser understands that an investment in the LUSTROS
Shares involves a “high degree” of risk.

 

(f)               
Purchaser is able to bear the economic risk of an investment in the LUSTROS Shares and,
at the present time, is able to afford a complete loss of such investment.

 

(g)              
Purchaser acknowledges that she has been afforded (i) the opportunity to ask such questions
as she has deemed necessary of, and to receive answers from, representatives of LUSTROS concerning the terms and conditions of
the LUSTROS Shares and the merits and risks of investing in the LUSTROS Shares; (ii) access to information about LUSTROS and LUSTROS’s
financial condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate
her investment in the LUSTROS Shares; and (iii) the opportunity to obtain such additional information which LUSTROS possesses or
can acquire without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the
investment and to verify the accuracy and completeness of the information that he, it or it has received about LUSTROS.

 

(h)              
Purchaser acknowledges that all of the certificates for the LUSTROS Shares will bear legends restricting their transfer,
sale, conveyance or hypothecation, unless such LUSTROS Shares are either registered under the provisions of the Securities Act
and under applicable state securities laws or such registration is not required as a result of applicable exemptions therefrom.

 

(i)                
Purchaser acknowledges and agrees that LUSTROS may place stop transfer orders with its transfer agent with respect
to the LUSTROS Shares.

 

2.2             
Representations by LUSTROS. LUSTROS hereby represents, warrants, covenants and acknowledges that as of the
date hereof:

 

(a)               
LUSTROS is a corporation duly organized, validly existing, and in good standing under the laws of the State of Utah
and has the legal capacity and all necessary corporate authority to carry on its business, to own its properties and assets, and
to enter into and perform this Agreement and to consummate the transactions contemplated hereby.

 

    	2

    	 	

    
 

(b)              
This Agreement has been duly authorized, executed and delivered by LUSTROS and constitutes a legal, valid and binding
obligation of LUSTROS, enforceable against LUSTROS in accordance with its terms.

 

(c)               
The execution and delivery of this Agreement and the performance of the obligations imposed hereunder will not conflict
with, or result in a breach by LUSTROS of, any of the terms or provisions of, or constitute a default under the certificate of
incorporation or bylaws of LUSTROS, or any material agreement or instrument to which LUSTROS is a party, or by which it or any
of its properties or assets are bound, or result in a violation of any order, decree, or judgment of any court or governmental
agency having jurisdiction over LUSTROS or LUSTROS’s properties, will not conflict with, constitute a default under, or result
in the breach of, any contract, agreement, or other instrument to which LUSTROS is a party or is otherwise bound and no consent,
authorization or order of, or filing or registration with, any court, governmental, or regulatory authority is required in connection
with the execution and delivery of this Agreement and any related agreements or the performance by LUSTROS of its obligations hereunder.

 

(d)              
The LUSTROS Shares will, when issued, be duly authorized, validly issued, fully paid, and non-assessable.

 

ARTICLE
3

NOTICES

 

All notices, demands or other communications
given hereunder shall be in writing and shall be deemed to have been duly given when sent if sent by fax or e-mail, or the date
received if sent by overnight courier, and if mailed shall be deemed to have been given on the first business day after mailing
by United States registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

 

	To Purchaser:	
        Angelique de Maison

        565 Walnut Ave

        Redlands, CA 92373

        Telephone: 310-595-6900

        Email: Get2red@gmail.com

         

	To LUSTROS:	
        LUSTROS, INC. - Acctg. Office

        9025 Carlton Hills Blvd, Ste. A

        Santee, CA, USA 92071

        Attn:Trisha Malone, CFO

        Telephone: (619) 916-3722

        Facsimile: (619) 568-3148

        Email:trish@Lustros.com

 

    	3

    	 	

    
 

ARTICLE
4

MISCELLANEOUS

 

4.1             
Additional Undertakings. Each of the Parties agrees to take such actions as are reasonably necessary to carry
out the intentions of the parties under this Agreement, including but not limited to the prompt execution and delivery of any documents
reasonably necessary to carry out and perform the terms or intention of this Agreement.

 

4.2             
Costs and Expenses. All costs and expenses incurred in connection with this Agreement and the transactions
contemplated hereby shall be paid by the Party incurring such costs or expenses, unless otherwise agreed.

 

4.3             
Governing Law; Venue; Choice of Language. This Agreement shall be governed by and construed in accordance
with the laws of the State of Utah, USA, without regard to conflicts of laws of principles, and each Party hereby agrees that all
performances due and transactions undertaken pursuant to this Agreement shall be deemed to be due or have occurred in California,
and the exclusive venue and place of jurisdiction for any litigation arising from or related to this Agreement shall be the state
or federal courts located in Orange County, State of California, USA. To the extent of any inconsistency between this English language
version and the Spanish language translation of this Agreement, the Agreement shall be construed in accordance with English.

 

4.4             
Headings. The headings used in this Agreement are for convenience only, do not form a part of this Agreement,
and shall not affect in any way the meaning or interpretation of this Agreement.

 

4.5             
Counterparts. This Agreement may be executed in one or more counterparts which when taken together shall constitute
one agreement. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “pdf”
format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature
is executed) with the same force and effect as if such facsimile or “pdf” signature page were an original thereof.

 

4.6             
Enforcement of Agreement. This Agreement is intended for the benefit of the Parties hereto and is not for
the benefit of, nor may any provisions hereof be enforced by any other person, firm or entity.

 

4.7             
Modification and Amendments. This Agreement may be amended, modified and supplemented in writing only by the
mutual consent of the Parties hereto.

 

4.8             
Successors and Assigns. This Agreement and all of the provisions hereof shall be binding upon and inure to
the benefit of the Parties hereto and their respective successors and permitted assigns, but neither this Agreement nor any of
the rights, interests or obligations hereunder shall be assigned by any of the Parties hereto without the prior written consent
of the other parties, and any attempts to do so without the consent of the other Parties shall be void and of no effect.

 

    	4

    	 	

    
 

4.9             
Attorneys Fees and Costs. In the event any Party breaches the terms of this Agreement, the non-breaching Parties
shall be entitled to the recovery of their reasonable attorney’s fees and other professional costs and fees incurred in enforcing
their rights hereunder.

 

4.10         
Entire Agreement. This writing constitutes the entire agreement and understanding between the Parties hereto
with respect to the subject matter contained herein. No Party is relying on any representation or statement not contained in this
writing. This Agreement supersedes and cancels any prior agreements relating to the subject matter contained herein.

 

4.11         
Severability. Whenever possible each provision of this Agreement shall be interpreted in such manner as to
be effective and valid under applicable law, but if any provision of this Agreement shall be or become prohibited or invalid under
applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity without invalidating the remainder
of such provision or the remaining provisions of this Agreement.

 

(signature page follows)

 

 

 

 

 

 

 

    	5

    	 	

    
 

IN WITNESS WHEREOF, the Parties hereto have
executed and delivered this Agreement as of the date first written above.

 

	
        LUSTROS, INC.

         

         

         
	 
	
        By:  /s/Trisha Malone

        Name: Trisha Malone

        Title: Chief Financial Officer

         
	 
	 	 
	 	 
	 	 
	
        PURCHASER:

         
	 
	
         

        /s/Angelique de Maison

        
	 

 

 

 

 

 

 

 

 

 

 

6EXHIBIT 10.1

 

WAIVER
AGREEMENT

 

This Waiver Agreement
(“Agreement”) is made and entered into as of February 25, 2013, by and between VelaTel Global Communications,
Inc., a Nevada corporation (“Company”), and Ironridge Technology Co., a division of Ironridge Global IV, Ltd.,
a British Virgin Islands business company (“Purchaser”).

 

Recitals

 

A.          The parties entered into a Stock Purchase Agreement (“SPA”) as of December 14, 2012, which is incorporated herein
by reference. Capitalized terms used in this Agreement and not otherwise defined shall have the meanings ascribed to them in the
SPA.

 

B.          The parties entered into a First Amendment to the SPA (“First Amendment”) on January 25, 2013.

 

C.          Purchaser has fully and timely performed all of its obligations under the SPA. The first Closing was fully effectuated and consummated
as set forth in the SPA.

 

D.          As of the date of this Agreement, all Conditions for each Closing after the first Closing, as set forth in Section II.D
of the SPA, have not been met. Company nevertheless desires to proceed with a second Closing, plus a partial payment against a
third Closing (“Revised Second Closing”), in the total amount of $750,000, and Purchaser is willing to proceed
with the Revised Second Closing as set forth hereinbelow.

 

Agreement

 

In consideration of
the foregoing, and the promises and covenants herein contained, the receipt and sufficiency of which are hereby acknowledged by
the parties hereto, the Company and Purchaser, intending to be legally bound, hereby agree as follows:

 

1.          Revised Second Closing. On the date hereof, Purchaser shall purchase 75 Preferred Shares, in accordance with the
procedures set forth in Section II.E of the SPA, and make payment for such Preferred Shares in cash by wire transfer of
immediately available funds to an account designated by Company.

 

2.          Share Issuance. In consideration of the premises, Company shall issue a certificate representing 75 additional Preferred
Shares to Purchaser as a non-refundable fee for entering into this Agreement.

 

    	1

    	 	

    
 

3.          Other Financings. The Company agrees that while any Preferred Shares issued pursuant to the SPA are outstanding and
for six months after their conversion into Common Stock, the Company will not discuss, negotiate, effect or enter into any agreement,
plan, arrangement or understanding to effect or modify any transaction with anyone other than (A) Purchaser or its affiliates,
or (B) the existing investors and commitments identified in the Disclosure Schedule the Company has delivered to Purchaser, in
which the Company or any subsidiary or affiliate of the Company: (i) issues or sells, agrees to issue or sell, or may issue or
sell, any Common Stock or security convertible or exchangeable into Common Stock, either (a) at a conversion, exercise or exchange
rate or other price that is based upon or varies with the trading prices of, or quotations for, the shares of Common Stock at any
time after the initial issuance of such securities, (b) with a conversion, exercise or exchange price that is subject to being
reset at some future date after the initial issuance of such securities, or upon the occurrence of specified or contingent events
directly or indirectly related to the business of the Company, the market price or the market for the Common Stock, (c)
pursuant to or registered under any Form S-8 registration statement, or
(d) in accordance with or reliance upon any provision of Section 3(a) of the Act; or (ii) enters into any agreement whereby the
Company or any subsidiary or affiliate of the company issues or sells, agrees to issue or sell, must or may issue or sell, any
Common Stock or other security at a future determined price, including, without limitation, any form of “equity line of credit”
or “at the market offering.”

 

4.          Reserved Shares. The Company will immediately and irrevocably instruct its transfer agent (a) to immediately reserve
a minimum of 492,000,000 shares of Common Stock for potential issuance to Purchaser, through and including, without limitation,
conversion of the Preferred Shares described in this Agreement, and (b) immediately upon an increase in authorized shares, to reserve
the full number of all Common Shares required under (i) Section 13(d) of Order for Approval of Stipulation for Settlement of Claims
dated July 3, 2012 (“Order”), and (ii) Section III.H of the SPA. Company and each of its officers, directors
and attorneys will use their best efforts to amend the Company’s articles of incorporation to increase the number of Common
Shares authorized to ensure full compliance with this Section as soon as possible.

 

5.          No Future Waiver. All Conditions to subsequent Closings, including without limitation those set forth in Section
II.D of the SPA, shall remain in full force and effect. Purchaser shall have no obligation to effect any additional Closings
if all such Conditions are not fully met. Additionally, it shall be a Condition to the next subsequent Closing that the Company
has taken all actions necessary to amend its articles of incorporation to increase the number of Common Shares authorized, and
to have filed such amended articles with the Nevada Secretary of State. Thereafter, the Company shall at all times comply with
Section III.H of the SPA. Company hereby further re-acknowledges, ratifies and confirms the impact and effect of the last
sentences of Sections 8 and 10 of the Order.

 

6.          Ratification. In the event of any conflict between the SPA and this Agreement, this Agreement shall control. Except
as expressly provided hereinabove, the SPA shall remain in full force and effect, and is hereby ratified and confirmed in all respects
by both parties.

 

7.          Authorization. The execution and delivery of this Agreement by Company and the consummation by it of the transactions
contemplated hereby have been duly authorized by all necessary action on the part of Company, including without limitation approval
by its Board of Directors, and no further consent or action is required by Company. This Agreement has been, or upon delivery will
be, duly executed by Company and, when delivered in accordance with the terms hereof, will constitute the valid and binding obligation
of Company, enforceable against Company in accordance with its terms.

 

    	2

    	 	

    
 

8.          Entire Agreement. This Agreement, the First Amendment, the SPA, and the Order as amended contain the entire agreement
and understanding of the parties, and supersede all prior and contemporaneous agreements, term sheets, letters, discussions, communications
and understandings, both oral and written, which the parties acknowledge have been merged into this Agreement. No party, representative,
attorney or agent has relied upon any collateral contract, agreement, assurance, promise, understanding or representation not expressly
set forth hereinabove. The parties hereby expressly waive all rights and remedies, at law and in equity, directly or indirectly
arising out of or relating to, or which may arise as a result of, any Person’s reliance on any such assurance.

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be duly executed by their respective authorized signatories as of the date first
indicated above.

 

Company:

 

VELATEL GLOBAL COMMUNICATIONS, INC.

 

 

By: /s/ George Alvarez

Name: George Alvarez

Title: Chief Executive Officer

 

 

Purchaser:

 

IRONRIDGE TECHNOLOGY CO.,

a division of IRONRIDGE GLOBAL IV, LTD.

 

 

By: /s/ Peter Cooper

Name: Peter Cooper

Title: Director

 

 

 

 

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00213-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00213-of-00352.parquet"}]]