SEC Contract Filing

Filing Date: 2021-12-10

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>tm2134987d1_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.3</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Pareteum
Corporation</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Senior Secured Convertible Incremental Note
due 2025</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THE ISSUANCE AND SALE OF NEITHER THE SECURITIES
REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE &ldquo;SECURITIES ACT&rdquo;), OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY&nbsp;NOT BE OFFERED
FOR SALE, SOLD, TRANSFERRED OR ASSIGNED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO
AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION AND PROSPECTUS-DELIVERY REQUIREMENTS OF THE SECURITIES ACT.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Pareteum
Corporation</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Senior Secured Convertible Incremental Note
due 2025</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate
No.</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">B-2</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pareteum Corporation, a Delaware
corporation (the&nbsp;&ldquo;<B>Company</B>&rdquo;), for value received, promises to pay to Channel Ventures Group, LLC (the &ldquo;<B>First
Holder</B>&rdquo;), or its registered assigns, the principal sum of Four Hundred Ninety-Nine Thousand Nine Hundred Sixty-One dollars ($499,961.00)
(such principal sum, the &ldquo;<B>Principal Amount</B>&rdquo;) on October&nbsp;1, 2025, and to pay interest thereon, as provided in this
Note, in each case as provided in and subject to the other provisions of this Note, including the earlier redemption, repurchase or conversion
of this Note.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Additional provisions of this
Note are set forth on the other side of this Note.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[<B><I>The Remainder of This Page&nbsp;Intentionally
Left Blank; Signature Page&nbsp;Follows</I></B>]</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IN
WITNESS WHEREOF</B></FONT>, Pareteum Corporation has caused this instrument to be duly executed as of the date set forth below.</P>

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 <TD STYLE="font: small-caps 10pt Times New Roman, Times, Serif">&nbsp;</TD>
 <TD COLSPAN="3" STYLE="font: small-caps 10pt Times New Roman, Times, Serif">Pareteum Corporation</TD></TR>
 <TR STYLE="vertical-align: bottom">
 <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
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 <TD STYLE="font: 10pt Times New Roman, Times, Serif">Date:&nbsp;&nbsp;&nbsp;&nbsp;&