SEC Contract Filing

Filing Date: 2020-07-20

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>5
<FILENAME>tm2024914d2_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.2&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Execution Version</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXCHANGE AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Exchange Agreement
(this &ldquo;<B>Agreement</B>&rdquo;) is dated July 20, 2020 (the &ldquo;<B>Effective Date</B>&rdquo;), by and among each of the
undersigned individuals or entities (the &ldquo;<B>Undersigned Entities</B>&rdquo; and each an &ldquo;<B>Undersigned Entity</B>&rdquo;),
for itself and on behalf of the beneficial owners listed on <U>Exhibit A</U>&nbsp;hereto (&ldquo;<B>Accounts</B>&rdquo;) for whom
such Undersigned Entity holds contractual and investment authority (each Account, as well as such Undersigned Entity if it is exchanging
Old Notes (as defined below) hereunder, a &ldquo;<B>Holder</B>&rdquo;), Teligent, Inc., a Delaware corporation, (the &ldquo;<B>Company</B>&rdquo;),
and the entities listed on the signature pages hereof as the initial &ldquo;Subsidiary Guarantors&rdquo; (the &ldquo;<B>Subsidiary
Guarantors</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company
is proposing to exchange (the &ldquo;<B>Exchange</B>&rdquo;) the Company&rsquo;s 4.75% Convertible Senior Notes due 2023 (CUSIP
87960W AA2) held by the Holders listed on <U>Exhibit A</U> hereto (the &ldquo;<B>Old Notes</B>&rdquo;) for a new issuance of the
Company&rsquo;s 9.5% Series C Senior Secured Convertible Notes due 2023 (CUSIP 87960W AG9) (the &ldquo;<B>New Notes</B>&rdquo;),
to be issued pursuant to the provisions of that certain Indenture, dated as of the date of this Agreement (the &ldquo;<B>Indenture</B>&rdquo;),
by and among the Company, the Subsidiary Guarantors and Wilmington Trust, National Association as trustee (together with its successors
and assigns, in such capacity, the &ldquo;<B>Trustee</B>&rdquo;) and collateral agent (together with its successors and assigns,
in such capacity, the &ldquo;<B>Collateral Agent</B>&rdquo;), upon the terms and conditions set forth herein and the other Exchange
Documents (defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">WHEREAS
each of the Undersigned Entities understands that the Exchange is being made without registration under the Securities Act of 1933,
as amended (the &ldquo;<B>Securities Act</B>&rdquo;), or any securities laws of any state of the United States or of any other
jurisdiction, and that the Exchange is only being offered to &ldquo;qualified institutional buyers&rdquo; (as defined in Rule 144A
under the Securities Act) in reliance upon a private placement exemption from registration under the Securities Act. The New Notes
will be issued pursuant to the Indenture (as defined herein).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW THEREFORE, on,
and subject to, the terms and conditions set forth in this Agreement, the parties hereto agree as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Article I</U>: Terms of the Exchange</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the terms
hereof, each of the Undersigned Entities hereby agrees to cause the Holders to exchange and deliver an aggregate principal amount
of Old Notes, and in exchange therefor, the Company shall issue to the Holders an aggregate principal amount of New Notes, in each
case, as set forth on <U>Exhibit A</U> hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -279pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The closing for the
Exchange (the &ldquo;<B>Closing</B>&rdquo;) shall occur substantially concurrently with, and subject to, the closing of the Company&rsquo;s
issuance and sale of the New Notes and on a date (the &ldquo;<B>Closing Date</B>&rdquo;) no later than two Trading Days after the
date of this Agreement. At the Closing, (a) each of the Undersigned Entities shall cause each of its Holders to deliver to the
Company all right, title and interest in and to such Holder&rsquo;s Old Notes, as set forth on <U>Exhibit A</U> hereto (and no
other consideration), free and clear of any mortgage, lien (statutory or otherwise), pledge, charge, secur