Document:

Exhibit 4.3

Consent of Independent Registered
Public Accounting Firm

We consent to the
reference made to our firm under the caption “Independent Registered Public Accounting Firm” in Part B of the Prospectus
and to the use of our report dated March 29, 2016, in this Registration Statement (Form S-6 No. 333-208954) of Smart Trust 231,
comprising Smart Trust, Argus Dividend Growers Total Return Trust, Series 8.

 

/s/ Grant
Thornton LLP

 

Chicago, Illinois

March 29, 2016ped_ex1075.htm

Exhibit 10.75

 

AMENDMENT NO. 1 TO VESTING AGREEMENT

This Amendment No. 1 to Vesting Agreement (“Amendment”), effective as of January 6, 2016, is entered into by and between PEDEVCO Corp. (herein referred to as the “Company”), and _________________ (the “Executive”).

WITNESSETH:

WHEREAS, the Company and the Executive have entered into a Vesting Agreement, dated May 21, 2015 (the “Prior Vesting Agreement”), which deferred vesting with respect to certain unvested shares of restricted common stock of the Company held by the Executive which are scheduled to vest on January 7, 2016 (the “January 2016 Vesting Shares”);

WHEREAS, the Company and the Executive have entered into a new Vesting Agreement, dated December 29, 2015 (the “New Vesting Agreement”), which defers vesting with respect to certain additional unvested shares of restricted common stock of the Company held by the Executive which are scheduled to vest upon certain triggers as set forth in the New Vesting Agreement; and

WHEREAS, the parties wish to amend the New Vesting Agreement to provide that the January 2016 Vesting Shares shall not vest on January 7, 2016, but shall instead be included in the definition of “Subject Shares” thereunder and vest in accordance with the provisions of the New Vesting Agreement as “Subject Shares” thereunder;

NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, the parties hereto agree as follows:

	
1.  

	
Section 1 of the New Vesting Agreement is amended and restated in full to read as follows:

 

“Delay of Vesting of Unvested Stock.  Immediately upon the effectiveness of this Agreement, the future vesting of Unvested Stock subject to vesting from January 1, 2016 through June 1, 2016 (the “Delay Period”) in accordance with such Unvested Stock’s vesting schedules, including all Unvested Stock that is subject to vesting on January 7, 2016 pursuant to the terms of the Prior Vesting Agreement (as defined below) (all such Unvested Stock, the “Subject Shares”), held by the Executive shall be delayed, with no further vesting occurring except as provided under this Agreement.  For avoidance of doubt, any previously delayed vesting of unvested shares of restricted common stock of the Company held by the Executive that is scheduled to occur on January 7, 2016 pursuant to that certain Vesting Agreement entered into by the Executive and the Company, dated May 21, 2015 (the “Prior Vesting Agreement”) shall be further delayed pursuant to this Agreement, with such shares included as “Subject Shares” hereunder.”

 

	
2.  

	
Except to the extent modified hereby, the Agreement shall remain in full force and effect.

	
3.  

	
This Amendment shall be binding upon and inure to the benefit of the parties and their successors and assigns.

[Signature Page Follows]

 

 

Amendment to Vesting Agreement

 

  

1

  

 

IN WITNESS WHEREOF, the parties have caused the Amendment to be executed as of the date and year first referenced above.

 

 

	The “Company” 	PEDEVCO Corp.	 
	 	 	 	 
	

Date: January 6, 2016

	
By: 

	 	 
	 	 	Frank C. Ingriselli	 
	 	 	Chief Executive Officer	 
	 	 	 	 

 

	The “Executive”	 	 
	 	 	 	 
	
Date: January 6, 2016

	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

  

 

Amendment to Vesting Agreement

 

 

2EX-10.26

 Exhibit 10.26 

THIRD AMENDMENT AGREEMENT 

This Third Amendment Agreement (this “Amendment”) is entered into this
24th day of March, 2016, by and among BENEFITFOCUS, INC., a Delaware corporation (the “Parent”), BENEFITFOCUS.COM, INC., a South Carolina corporation
(“Benefitfocus.com”), and BENEFITSTORE, INC., a South Carolina corporation (“BenefitStore”, and together with the Parent and Benefitfocus.com, each individually, a
“Borrower”, and collectively, the “Borrowers”), the several banks and other financial institutions or entities party hereto (each a “Lender” and, collectively, the
“Lenders”), and SILICON VALLEY BANK, as administrative agent and collateral agent for the Lenders (in such capacity, the “Administrative Agent”). 

RECITALS 

A. The Borrowers, the Lenders and the Administrative Agent have entered into that certain Credit Agreement dated as of
February 20, 2015, as amended pursuant to that certain First Amendment Agreement dated June 16, 2015, and pursuant to that certain Second Amendment Agreement dated December 18, 2015 (as amended and as the same may from time to time be
further amended, modified, supplemented or restated, the “Credit Agreement”), pursuant to which the Lenders have extended credit to the Borrowers for the purposes permitted in the Credit Agreement. 

B. The Borrowers and the Required Lenders desire to amend the Credit Agreement as set forth herein. 

C. The Required Lenders have agreed to so amend certain provisions of the Credit Agreement, but only to the extent, in accordance with
the terms, subject to the conditions and in reliance upon the representations and warranties set forth below. 

AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing recitals and other good and valuable consideration, the
receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 
 1.
Definitions. Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Credit Agreement. 

2. Amendments to Credit Agreement. 

2.1 Section 1.1 (Defined Terms). Section 1.1 of the Credit Agreement is hereby amended by deleting
“$20,000,000” in the penultimate line of the definition of “Liquidity” and by substituting “$30,000,000” in its stead. 

2.2 Section 6.1 (Financial Statements). Section 6.1(b) of the Credit Agreement is hereby amended by adding “(provided
that, for the month ending January 31, 2016, such financial statements shall be due on or before March 25, 2016)” after “35 days” in the first line thereof. 

 2.3 Section 7.1 (Financial Covenants).  

(a) Section 7.1(a) of the Credit Agreement (Minimum Liquidity) is hereby amended by deleting “$30,000,000” appearing in
the last line thereof and by substituting “$45,000,000” in its stead. 
 (b) Section 7.1(b) of the Credit Agreement
(Minimum Consolidated EBITDA) is hereby amended by deleting the grid set forth therein and by substituting the following in its stead: 
  

					
	 Quarter Ending
	  	 	  	Minimum Consolidated EBITDA
	 March 31, 2015
	  		  	($22,500,000)
	 June 30, 2015
	  		  	($22,500,000)
	 September 30, 2015
	  		  	($22,500,000)
	 December 31, 2015
	  		  	($16,500,000)
	 March 31, 2016
	  		  	($14,000,000)
	 June 30, 2016
	  		  	($13,000,000)
	 September 30, 2016
	  		  	($5,750,000)
	 December 31, 2016
	  		  	$0.0
	 March 31, 2017
	  		  	$8,000,000
	 June 30, 2017
	  		  	$9,000,000
	 September 30, 2017
	  		  	$12,000,000
	 December 31, 2017
	  		  	$18,000,000

 (c) Section 7.7 of the Credit Agreement (Consolidated Capital Expenditures) is hereby amended by
deleting the grid set forth therein and by substituting the following in its stead: 
  

			
	 Fiscal Year
	  	Consolidated Capital Expenditures
	 2015 fiscal year
	  	$16,500,000
	 2016 fiscal year
	  	$21,000,000
	 2017 and each fiscal year thereafter
	  	$17,000,000

 2.4 Exhibit B (Form of Compliance Certificate). Exhibit B to the Credit Agreement is
hereby deleted in its entirety and the Exhibit A attached hereto is substituted in its stead. 
 3. Limitation of Amendment. 

3.1 The amendments set forth in Section 2, above, are effective for the purposes set forth herein and shall be limited
precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which the Administrative Agent or
the Lenders may now have or may have in the future under or in connection with any Loan Document. 
 3.2 This Amendment shall be
construed in connection with and as part of the Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall
remain in full force and effect. 
 4. Representations and Warranties. To induce the Administrative Agent and the Required Lenders to
enter into this Amendment, the Borrowers hereby represent and warrant as follows: 
 4.1 Immediately after giving effect to
this Amendment (a) the representations and warranties contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier
date, in which case they are true and correct as of such date), and (b) no Event of Default has occurred and is continuing; 

4.2 Each Borrower have the power and authority to execute and deliver this Amendment and to perform its obligations under the Credit
Agreement, as amended by this Amendment; 
 4.3 The organizational documents of the Borrowers previously delivered remain true,
accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect; 
 4.4
The execution and delivery by each Borrower of this Amendment and the performance by such Borrower of its obligations under the Credit Agreement, as amended by this Amendment, have been duly authorized; 

4.5 The execution and delivery by each Borrower of this Amendment and the performance by each Borrower of its obligations under the
Credit Agreement, as amended by this Amendment, do not and will not contravene (a) any law or regulation binding on or affecting such Borrower, (b) any contractual restriction with a Person binding on such Borrower, (c) any order,
judgment or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on such Borrower, or (d) the organizational documents of such Borrower; 

 4.6 The execution and delivery by each Borrower of this Amendment and the performance by
such Borrower of its obligations under the Credit Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any
governmental or public body or authority, or subdivision thereof, binding on such Borrower, except as already has been obtained or made; and 

4.7 This Amendment has been duly executed and delivered by each Borrower and is the binding obligation of such Borrower, enforceable
against such Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable principles relating to or
affecting creditors’ rights. 
 5. No Defenses of Borrowers. Each Borrower hereby acknowledges and agrees that such Borrower has
no offsets, defenses, claims, or counterclaims against the Administrative Agent or any Lender with respect to the Obligations, or otherwise, and that if such Borrower now has, or ever did have, any offsets, defenses, claims, or counterclaims against
the Administrative Agent or any Lender, whether known or unknown, at law or in equity, all of them are hereby expressly WAIVED and such Borrower hereby RELEASES the Administrative Agent and each Lender from any liability thereunder. 

6. Integration. This Amendment and the Loan Documents represent the entire agreement about this subject matter and supersede prior
negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Amendment and the Loan Documents merge into this Amendment and the Loan
Documents. 
 7. Counterparts. This Amendment may be executed in any number of counterparts and all of such counterparts taken
together shall be deemed to constitute one and the same instrument. 
 8. Effectiveness. This Amendment shall be deemed
effective upon the following: 
 8.1 The due execution and delivery to the Administrative Agent by each party hereto. 

8.2 The payment by the Borrower to the Administrative Agent, for the ratable benefit of each Lender party to this amendment based on
such Lender’s Revolving Percentage, an amendment fee equal to .075% of the Revolving Commitment of each Lender party hereto. 

 [Signature page follows.] 

 IN WITNESS WHEREOF, the parties hereto have
caused this Amendment to be duly executed and delivered as of the date first written above. 
 BORROWERS: 

 

									
	BENEFITFOCUS.COM, INC.	 		 	BENEFITFOCUS, INC.
					
	By:	 	/s/ Milton A. Alpern	 		 	By:	 	/s/ Milton A. Alpern
	Name:	 	MILTON A. ALPERN	 		 	Name:	 	MILTON A. ALPERN
	Title:	 	CHIEF FINANCIAL OFFICER	 		 	Title:	 	CHIEF FINANCIAL OFFICER
			
		 		 	BENEFITFOCUS, INC.
					
		 		 		 	By:	 	/s/ Milton A. Alpern
		 		 		 	Name:	 	MILTON A. ALPERN
		 		 		 	Title:	 	CHIEF FINANCIAL OFFICER

  
  

  
 Exhibit B 

 SILICON VALLEY BANK, as Administrative Agent and as a Lender 

			
	
		
	By:	 	/s/ Michael Shuhy
	Name:	 	Michael Shuhy
	Title:	 	Director
	
	COMERICA BANK, as a Lender
		
	By:	 	/s/ John Benetti
	Name:	 	John Benetti
	Title:	 	SVP
	
	
	PACIFIC WESTERN BANK, as a Lender
		
	By:	 	/s/ Adam Glick
	Name:	 	Adam Glick
	Title:	 	SVP

  

  
 Exhibit B 

 EXHIBIT B 

FORM OF COMPLIANCE CERTIFICATE 

BENEFITFOCUS, INC. 

BENEFITFOCUS.COM, INC. 

BENEFITSTORE, INC. 
  

Date:             ,
20             
 1. This Compliance Certificate is delivered pursuant to
Section 6.2(b) of that certain Credit Agreement, dated as of February 20, 2015, by and among BENEFITFOCUS, INC., a Delaware corporation (“Parent”), BENEFITFOCUS.COM, INC., a South Carolina
corporation (“Benefitfocus.com”), and BENEFITSTORE, INC., a South Carolina corporation (“BenefitStore”, and together with Parent and Benefitfocus.com, each individually, a
“Borrower”, and collectively, the “Borrowers”), the several banks and other financial institutions or entities from time to time parties thereto (each a “Lender” and,
collectively, the “Lenders”), SILICON VALLEY BANK, as the Issuing Lender and the Swingline Lender, SILICON VALLEY BANK (“SVB”), as administrative agent and collateral agent for the
Lenders (in such capacity, the “Administrative Agent”) and COMERICA BANK, as documentation agent (in such capacity, the “Documentation Agent”) (as amended, restated, amended and restated,
supplemented, restructured or otherwise modified from time to time, the “Credit Agreement”). Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the
Credit Agreement. 
 2. The undersigned, a duly authorized and acting Responsible Officer of Parent, hereby certifies, in his/her capacity
as an officer of Parent, and not in any personal capacity, as follows: 
 3. I have reviewed and am familiar with the contents of this
Compliance Certificate. 
 4. I have reviewed the terms of the Credit Agreement and the other Loan Documents and have made, or caused to be
made under my supervision, a review in reasonable detail of the transactions and condition of Parent and its Subsidiaries during the accounting period covered by the financial statements attached hereto as Attachment 1 (the
“Financial Statements”). Except as set forth on Attachment 2, such review did not disclose the existence during or at the end of the accounting period covered by the Financial Statements, and I have no knowledge of the
existence as of the date of this Compliance Certificate, of any condition or event which constitutes a Default or an Event of Default. 
 5.
Attached hereto as Attachment 3 are the computations showing compliance with the covenants set forth in Section 7.1 of the Credit Agreement. 

6. [To the extent not previously disclosed to the Administrative Agent, a description of any change in the jurisdiction of organization of any
Loan Party.] 
 7. [To the extent not previously disclosed to the Administrative Agent, a list of any material patents, registered
trademarks or registered copyrights issued to or acquired by any Loan Party since [the Closing Date][the date of the most recent report delivered].] 

[Remainder of page intentionally left blank; signature page follows] 

  
 Exhibit B 

 IN WITNESS WHEREOF, I have executed this Compliance Certificate as of the date first written
above. 
  

			
	PARENT, for itself and on behalf of each other Borrower:
	
	BENEFITFOCUS, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  

  
 Exhibit B 

 Attachment 1 

to Compliance Certificate 
 [Attach
Financial Statements] 

  
 Attachment 1 to
Compliance Certificate 

 Attachment 2 

to Compliance Certificate 
 Except
as set forth below, no Default or Event of Default has occurred. [If a Default or Event of Default has occurred, the following describes the nature of the Default or Event of Default in reasonable detail and the steps, if any, being taken or
contemplated by the Borrowers to be taken on account thereof.] 

  
 Attachment 2 to
Compliance Certificate 

 Attachment 3 

to Compliance Certificate 

Preliminary Note to Compliance Certificate Calculations 

The information described herein is as of
[                    ], [        ] (the “Statement Date”), and pertains
to the subject period described below. 
  

	(a)	Minimum Liquidity. 

 Required: Permit Liquidity at any time, as tested on the last day of each month, to
be less than $45,000,000. 
 Actual: 
  

							
			
	A.	  	The Available Revolving Commitment as of the Statement Date	  	 	$                        	  
			
	B.	  	The aggregate amount of unrestricted cash held by the Borrowers and the Guarantors in Deposit Accounts maintained with SVB or SVB’s Affiliates or another Lender or an Affiliate thereof, or with National Bank of South
Carolina (“NBSC”, provided that the aggregate amounts held in deposit accounts with NBSC shall not exceed $6,500,000 at any time), and in each case subject to a first priority lien in favor of the Administrative Agent,
including, without limitation, pursuant to a Deposit Account Control Agreement with respect to each such Deposit Account provided that, in connection with any calculation of Liquidity required hereunder, at least $30,000,000 must consist of
unrestricted cash satisfying the requirements of clause (i) above.	  	 	$                        	  
			
	C.	  	 MINIMUM LIQUIDITY (the sum of line A plus line B)
	  	 	$                        	  

 Does line C consist of not less than $30,000,000 of unrestricted cash? 

 

					
	              No, not in Compliance	  	              Yes, in Compliance	  	

 Is line C equal to or greater than $45,000,000? 

No, not in Compliance Yes, in Compliance 
  

					
	              No, not in Compliance	  	              Yes, in Compliance	  	

 Attachment 3 to Compliance Certificate 

	(b)	Minimum Consolidated EBITDA. 

 Required: Permit Consolidated EBITDA for any quarter specified below, as
calculated on a trailing six (6) months basis, to be less than the correlative amount specified below: 
  

			
	 Quarter Ending
	  	 Minimum Consolidated EBITDA

		
	 March 31, 2015
	  	($22,500,000)
	 June 30, 2015
	  	($22,500,000)
	 September 30, 2015
	  	($22,500,000)
	 December 31, 2015
	  	($16,500,000)
	 March 31, 2016
	  	($14,000,000)
	 June 30, 2016
	  	($13,000,000)
	 September 30, 2016
	  	   ($5,750,000)
	 December 31, 2016
	  	              $0.0
	 March 31. 2017
	  	    $8,000,000
	 June 30, 2017
	  	     $9,000,000
	 September 30, 2017
	  	   $12,000,000
	 December 31, 2017
	  	   $18,000,000

 Actual: All amounts measured on a trailing six month basis: 

 

							
			
	A.	  	Consolidated Net Income	  	 	$                        	  
			
	B.	  	Consolidated Interest Expense	  	 	$                        	  
			
	C.	  	Provisions for taxes based on income	  	 	$                        	  
			
	D.	  	Total depreciation and amortization expense	  	 	$                        	  
			
	E.	  	Non-cash compensation expense	  	 	$                        	  
			
	F.	  	The fees, costs and expenses incurred in connection with the Credit Agreement and the other Loan Documents and the transactions thereunder	  	 	$                        	  
			
	G.	  	Reasonable one-time fees, costs and expenses incurred in connection with a Permitted Acquisition or a successful offering or issuance of Capital Stock, in each case to the extent approved in writing by the Administrative Agent as
an ‘add-back’ to Consolidated EBITDA	  	 	$                        	  

 Attachment 3 to Compliance Certificate 

							
			
	H.	  	Other non-cash items reducing Consolidated Net Income (excluding any such non-cash item to the extent that it represents an accrual or reserve for
potential cash items in any future period or amortization of a prepaid cash item that was paid in a prior period) approved by the Administrative Agent in writing as an ‘add back’ to Consolidated EBITDA	  	 	$                        	  
			
	I.	  	The Sum of lines A through H	  	 	$                        	  
			
	J.	  	Other non-cash items increasing Consolidated Net Income for such period (excluding any such non-cash item to the extent it represents the reversal of
an accrual or reserve for potential cash item in any prior period)	  	 	$                        	  
			
	K.	  	Interest Income	  	 	$                        	  
			
	L.	  	The Sum of lines J and K	  	 	$                        	  
			
	M.	  	CONSOLIDATED EBITDA (line I minus line L)	  	 	$                        	  

 Is Line M equal to or greater than
$[                             ]? 

 

					
	              No, not in Compliance	  	              Yes, in Compliance	  	

  
 Attachment 3 to Compliance Certificate

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