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Pareteum Announces 3-Year Employment Extension of Founder, Executive Chairman & Principal Executive Officer, Robert 'Hal' TurnerNEW YORK, June 6, 2018 /PRNewswire/ -- Pareteum Corporation (NYSE American: TEUM), ("Pareteum" or the "Company"), the rapidly growing Cloud Communications Platform company, today announced that it has entered into an employment amendment agreement ("Agreement") with Mr. Turner, pursuant to which his engagement will continue until at least November 18, 2021. Mr. Turner's prior agreement was based on a fixed term through November 2018 and the company is therefore delighted to ensure the continued engagement of Mr. Turner for a further three years, while the company executes on a significant and value-generating corporate development and market growth strategy. The Agreement also includes provisions for performance-based remuneration, as well as M&A change of control provisions to permit accelerated vesting of equity awards, and tax gross-up allowances. Commenting on the Agreement, Mr. Turner stated: "I am very pleased to offer my continued and undivided commitment to Pareteum, its shareholders and our 'TEUMates'. This phase in the company's aggressive growth cycle will be as dramatic and positive as the last three years, and will involve enhanced value-generation for all stakeholders. I am fortunate to have a world-class executive management team, a talented and experienced Board of Directors, and an active and supportive shareholder base, all of whom I thank for the opportunity to lead Pareteum. As is clear from our recent announcements and results, we are attacking the market with unprecedented vigor and speed, and we have a highly ambitious market capture strategy which my executive management team and I are laser-focused on delivering." Mr. Yves van Sante, Chairman of the Nominating and Governance Committee of the Board of Directors stated: "We are delighted with the renewed engagement of Mr. Turner as Founder, Executive Chairman and Principal Executive Officer of the Company. Pareteum is a remarkable success story in the making, a company which Mr. Turner effectively founded followin the dramatic corporate rescue and turnaround of the past three years. On behalf of my colleagues on the Board, we thank Mr. Turner for his extraordinary dedication and commitment, and we look forward to realizing the clear opportunity in the next chapter of this success story." About Pareteum: Forward Looking Statements: Pareteum Investor Relations Contact: Stephen Hart Carrie Howes
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