SEC Contract Filing

Filing Date: 2020-06-29

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10-1.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
10.1</B></FONT></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THIS
EXCHANGE AGREEMENT (the &ldquo;<U>Agreement</U>&rdquo;) is made as of June 23, 2020 (the &ldquo;<U>Effective Date</U>&rdquo;),
by and between Surge Holdings, Inc., a Nevada corporation (the &ldquo;<U>Company</U>&rdquo;), AltCorp Trading LLC (the &ldquo;<U>Investor</U>&rdquo;)
and consented and agreed to by GBT Technologies, Inc, the parent company of the Investor. In addition to the terms defined elsewhere
in this Agreement, certain terms used herein have the meanings set forth in Section 6 hereof.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
reference is made to a loan made by the Investor to the Company as evidenced by that certain Convertible Promissory Note issued
by the Company for the benefit of the Investor on September 27, 2019 in the principal amount of $4,000,000 (the &ldquo;<U>Note</U>&rdquo;),
which such Note was subsequently assigned to GBT&rsquo;s subsidiary AltCorp on February 3, 2020; and</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
subject to the satisfaction of the conditions set forth herein, the Company and the Investor desire to exchange $2,750,000 of
principal and any and all interest or other fees and expenses currently due on such principal amount (the &ldquo;<U>Note Exchange
Balance</U>&rdquo;) for 5,500,000 shares (the &ldquo;<U>Shares</U>&rdquo;) of the Company&rsquo;s common stock, par value $0.001
per share (the &ldquo;<U>Common Stock</U>&rdquo;);</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree
as follows:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
<U>Exchange</U>. The closing will occur on June 23, 2020 (or such later date as the parties hereto may agree in writing) (the
&ldquo;<U>Closing</U>&rdquo;) following the satisfaction or waiver of the conditions set forth herein (such date, the &ldquo;<U>Closing
Date</U>&rdquo;). On the Closing Date, subject to the terms and conditions of this Agreement, the Investor and the Company shall
exchange the Note Exchange Balance for the Shares. At the Closing, the following transactions shall occur (such transactions in
this Section 1, the &ldquo;<U>Exchange</U>&rdquo;):</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1.
On the Closing Date and concurrently with the Exchange, the remaining $1,250,000 of principal due under the Note and any and all
interest or other fees and expenses currently due on such principal amount (the &ldquo;<U>Remaining Note Balance</U>&rdquo;) shall
be immediately exchanged for shares and transferred and assigned to Glen Eagles Acquisition LP (the &ldquo;<U>Assignment</U>&rdquo;).</FONT></P>

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