Exhibit 10.22


 


 


 


 


[DANCING BEAR LETTERHEAD]


 


December 31, 2017


 


theglobe.com, inc.


1500 Cordova Road, Suite 302


Fort Lauderdale, Florida 33316


 


 


		Re:	Termination of Revolving Loan Agreement



 


Dear Mr. Cespedes:


 


Reference is made to
that certain (a) Revolving Loan Agreement, entered into in June 6, 2008 (the “Loan Agreement”), by and between
Dancing Bear Investments, Inc. (“Dancing Bear”) and theglobe.com, inc. (“theglobe”), and
(b) Stock Purchase Agreement, dated as of December 31, 2017 (the Purchase Agreement”) by and among Delfin Midstream,
LLC (the “Purchaser”) and Michael S. Egan, Jacqueline Egan, Dancing Bear, E&C Capital Partners, LLP, E&C
Capital Partners II, LLLP, the Registry Management Company, LLC, and certain Grantor Retained Annuity Trusts with Michael S. Egan
as Grantor (collectively, the “Sellers”). Capitalized terms used herein and not otherwise defined shall have
the meaning given to such terms in the Purchase Agreement.


 


By executing this termination
agreement (this “Termination Agreement”), the parties hereto acknowledge and agree as follows:


 


(1)       Effective
as of December 31, 2017 (the “Effective Date”) (a) all provisions of the Services Agreement shall be terminated
and shall be null and void and of no further force or effect, (b) no party thereto shall have any rights, liabilities or obligations
thereunder and (c) all amounts due and outstanding under the Loan Agreement, which was a total of approximately $1,175,000.00 as
of September 30, 2017, as of immediately prior to the Effective Date, shall be deemed satisfied in full, discharged, terminated
and released, in all respects.


 


(2)       Dancing
Bear and theglobe each agree to take such further actions and execute and deliver such other documents and agreements as may be
reasonably required to further evidence the termination of the Loan Agreement or effect the intent and purpose of this Termination
Agreement.


 


(3)       In
consideration of the Purchase Price (as defined in the Purchase Agreement) to be paid to Sellers under the Purchase Agreement,
Dancing Bear hereby releases and forever discharges all claims, demands, debts, obligations, and liabilities of any kind or character
whatsoever that Dancing Bear ever had, now has, or might hereafter have against theglobe and each of its respective subsidiaries,
affiliates, agents, shareholders, partners, members, employees, officers, directors, attorneys and representatives, as well as
the successors and assigns of any and all of them, and anyone claiming through or under any of them (collectively, the “Released
Parties”), arising from or by reason of any matter, act, omission, cause or thing whatsoever occurring, without regard
to the present, actual knowledge of such acts, omissions, breaches or events, on or prior to the date of this Termination Agreement,
that relate to the Loan Agreement or any other transaction, document, contract, instrument, representation, understanding or agreement
between Dancing Bear and any Released Party, in whole or in part, directly or indirectly (collectively, the “Dancing Bear
Released Claims”). Dancing Bear intends that this release shall be a full and final settlement of and bar to any and
all claims and/or causes of action against the Released Parties relating to the Dancing Bear Released Claims.


 






     


     


    

 


(4)       This
Termination Agreement (a) shall be binding upon and inure to the benefit of the parties hereto and their respective successors
and permitted assigns and is not intended to confer upon any other person any rights or remedies hereunder, (b) may be executed
in any number of counterparts, each of which shall be an original but all of which taken together shall constitute one and the
same instrument and (c) shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware
without regard to its rules of conflict of laws.


 


(5)       Each
party shall bear its own costs and expenses in connection with entering into this Termination Agreement. In the event that it becomes
necessary for any party to bring suit to enforce the terms of this Termination Agreement or in connection with a breach of this
Termination Agreement, then the prevailing party shall be entitled to recover all reasonable costs, including attorneys' fees,
incurred in connection with such litigation (including appellate proceedings) against the non-prevailing party.


 


(6)       This
Termination Agreement constitutes the entire agreement between the parties with respect to the subject matter contained herein
and any and all previous agreements and understandings, written or oral, express or implied with respect to the subject matter
hereof are hereby terminated and canceled.


 


 


[Signatures appear
on following page]


 


 




     


     


    

If
the foregoing properly sets forth our agreement kindly execute a copy of this Termination Agreement where indicated below and return
the same to the undersigned.


 





	 	Very Truly Yours,
	 	 
	 	Dancing Bear Investments, Inc.
	 	 	 
	 	By:	/s/ Michael S. Egan	 
	 	Name:	Michael S. Egan
	 	Title: 	President


  


Acknowledged, accepted and agreed, this 31st day
of December, 2017:


 


theglobe.com, inc.


1500 Cordova Road, Suite 302


Fort Lauderdale, Florida 33316


 





	By:	/s/ Robin S. Lebowitz	 	 
	Name:  	Robin S. Lebowitz	 
	Title:    	Vice President of Finance


 


  


 


 


[Signature Page to Termination Agreement
– Loan]