Document:

ex10-1.htm

Exhibit 10.1

EXTENSION AGREEMENT

This Extension Agreement, made effective as of May 15, 2014 (the “Agreement”), is between Innovative Food Holdings, Inc., a Florida corporation (the “Company”) and the signatories hereto (each, a “Subscriber” and collectively, the “Subscribers”).

WHEREAS, the Company has issued notes, as amended to date, as further described on Schedule A hereto (the “Notes”) and warrants, as amended to date (the “Warrants”); and

WHEREAS, the Company and the Subscribers have agreed to make certain changes to the terms of the Notes and Warrants; and

WHERAS, simultaneously herewith the Company and Alpha Capital Anstalt have entered into a Leakout Agreement.

NOW THEREFORE, in consideration of the promises and mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby consent and agree as follows:

1. Effective on the date hereof (i) the interest rate on the Notes is modified to be at a rate of 1.9% per annum and (ii) provided such interest has not previously been converted by a Subscriber, such interest shall be payable, at the discretion of the Company, in cash or stock as per the term of each Note, or accrued until the Maturity Date.  Default interest shall be as stated in the Notes.

2. The Maturity Date of each Note is hereby amended to December 31, 2015, provided that at the discretion of the Company, the Notes may be extended beyond such date up to an additional three months under the same terms. If the Note is extended, the terms of the Leakout Agreement in Exhibit A shall apply for the length of the extension.

3. Except as permitted herein, the Notes may not be prepaid without the permission of the Subscribers.

4. The Notes and the principal and interest represented thereby, and any rights related thereto, which includes the convertibility feature and the underlying stock, as well as the Warrants, and any rights related thereto, cannot be transferred without the written consent of the Company.

5. Payments of interest first and then principal (after all interest has been paid) accrued under those Notes listed on Schedule B may be prepaid, in the Company’s discretion, as follows:

(i)    up to $5,500 per month with respect to interest on the Notes listed on Schedule B hereto;

(ii)   up to an additional $10,000 per month of the interest and then principal on the Notes listed on Schedule B hereto; if the prior month’s total trading volume exceeded 2,000,000 shares; and

(iii)  up to a further additional $5,000 per month of the interest and then principal on the Notes listed on Schedule B hereto;  if the prior month’s total trading volume exceeded 3,000,000 shares.

6.  To the extent any of the Subscribers have any rights of first refusal to participate in any financings of the Company, each Subscriber hereby permanently and irrevocably waives any of such rights.

7.      In the event the Company enters into a material acquisition, merger or consolidation transaction and reducing the amount of the outstanding Notes becomes a key factor to closing the transaction, the Company can require the each Subscriber to immediately convert into equity an amount of outstanding principle and interest as would cause the Subscriber to own up to, but not exceed, 6.5% of the Company’s outstanding common stock including all shares then held by the Subscribers.

8.      In the event any of the Subscribers takes action to cause the Company to be in default under the terms of any Note or Warrant, any restrictions or limitations on the Company’s ability to prepay the Notes is hereby waived and the Company may, at any time thereafter, satisfy its obligations under the Notes in full by paying all outstanding interest and principle without prepayment penalty.

 

  

  

  

9. All other terms of, and definitions used in, the Transaction Documents (the Notes, Warrants, Subscription Agreements Extension Agreements and all other related documents between the Company and a Subscriber) remain in full force and effect (including the terms of any amendments not specifically superseded by this Agreement) as if this Agreement had not been executed.

10. This Agreement may be executed in counterparts, all of which when taken together shall be considered one and the same Agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that all parties need not sign the same counterpart.  In the event that any signature is delivered by facsimile transmission, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile signature were an original thereof.  A copy of this Agreement annexed to the Note or the Warrant, as appropriate, shall be sufficient to reflect the amendment thereto.

[THIS SPACE INTENTIONALLY LEFT BLANK]

 

 

  

  

  

 

IN WITNESS WHEREOF, the parties hereby execute this Agreement as of the date first written above.

INNOVATIVE FOOD HOLDINGS, INC.

By: _______________________________________

ALPHA CAPITAL ANSTALT

By: _______________________________________

LANE VENTURES, INC

By: _______________________________________

MOMONA CAPITAL LLC

By: _______________________________________

OSHER CAPITAL PARTNERS LLC

By: _______________________________________

ASSAMEKA CAPITAL, INC.

By: _______________________________________

__________________________________________

ASHER BRANDex10-33.htm

Exhibit 10.33

 

CONSULTING AGREEMENT

This consulting agreement (the "Agreement"), made as of December 10, 2010 is entered into by BioSig Technologies, Inc., at 10161 Park Run Dr #150 Las Vegas, NV  89145 (the "Company"), and,  Jonathan Steinhouse residing at 338 S 2nd St Philadelphia, PA  19106 (the "Consultant").

 

The Company desires to retain the services of the Consultant and the Consultant desires to perform certain services for the Company.  In consideration of the mutual covenants and promises contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the parties hereto, the parties agree as follows:

 

1. Services.  The Consultant agrees to perform such consulting, advisory and related services to and for the Company as may be reasonably requested from time to time by the Company, including, but not limited to, the services specified in Exhibit A.

2. Term.  This Agreement shall commence on December 10, 2010 (the "Commencement Date") and shall continue until December 10, 2012.

3. Compensation.

	
3.1.  

	
  Consulting Fees.  The Company shall compensate Consultant with 43,750 shares of common stock of the Company.

	
3.2.  

	
  Reimbursement of Expenses. All expenditures shall be the sole responsibility of the Consultant and will not be reimbursed.

4. Cooperation.  The Consultant shall use his/her best efforts in the performance of his/her obligations under this Agreement.  The Company shall provide such access to its information and property as may be reasonably required in order to permit the Consultant to perform his/her obligations hereunder.  The Consultant shall cooperate with the Company's personnel, shall not interfere with the conduct of the Company's business and shall observe all rules, regulations and security requirements of the Company concerning the safety of persons and property.

5. Independent Parties.  It is the express intention of the parties to this Agreement that the Consultant is an independent contractor, and is classified by the Company as such for all employee benefit purposes, and is not an employee, agent, joint venture, or partner of the Company.  Nothing in this Agreement shall be interpreted or construed as creating or establishing an employment relationship between the Company and the Consultant.  Both parties understand and agree that the Consultant may perform services for others during the term of this Agreement.   Consultant shall have no authority to assume, create, or enlarge any obligation or commitment on behalf of the Company without the prior written consent of the Company.

6. Confidential Information.  Consultant understands that the Company possesses Proprietary Information (as defined below) which is important to its business and that this Agreement creates a relationship of confidence and trust between Consultant and the Company with regard to Proprietary Information.

For purposes of this Agreement, “Proprietary Information” is information that was or will be developed, created, or discovered by or on behalf of the Company, or is developed, created or discovered by Consultant while performing Services, or which became or will become known by, or was or is conveyed to the Company which has commercial value in the Company’s business.  “Proprietary Information” includes, but is not limited to, trade secrets, designs, technology, know-how, works of authorship, source and object code, algorithms, processes, data, computer programs, ideas, techniques, inventions (whether patentable or not), business and product development plans, customers, customer lists and other information concerning the Company’s actual or anticipated business, research or development, personnel information, terms of compensation and performance levels of Company employees, or information which is received in confidence by or for the Company from any other person.  Consultant understands and agrees that this consulting relationship creates a relationship of confidence and trust between the Company and Consultant with respect to Proprietary Information.

 

  

  

  

At all times, both during the term of this Agreement and after its termination, Consultant will keep in confidence and trust, and will not use or disclose, any Proprietary Information without the prior written consent of an officer of the Company, except as may be necessary in the ordinary course of performing the Services under this Agreement.

7. Notices.  All notices required or permitted under this Agreement shall be in writing and shall be deemed effective upon personal delivery, email or upon deposit in the United States Post Office or other courier addressed to the other party at the address shown above, or at such other address or addresses as either party shall designate to the other in accordance with this Section 7.

8. Entire Agreement.  This Agreement constitutes this entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement.

9. Amendment.  This Agreement may be amended or modified only by a written instrument executed by both the Company and the Consultant.

10. Governing Law.  This Agreement shall be construed, interpreted and enforced in accordance with the laws of the State of Delaware.

11. Successors and Assigns.  This Agreement shall be binding upon, and inure to the benefit of, both parties and their respective successors and assigns, including any corporation with which, or into which, the Company may be merged or which may succeed to its assets or business, provided, however, that the obligations of the Consultant are personal and shall not be assigned by the Consultant.

12. Miscellaneous.

 

	
12.1.  

	
No delay or omission by the Company in exercising any right under this Agreement shall   operate as a waiver of that or any other right.  A waiver or consent given by the Company on any one occasion shall be effective only in that instance and shall not be construed as a bar or waiver of any right on any other occasion.

	
12.2.  

	
The captions of the sections of this Agreement are for convenience of reference only and in no way define, limit or affect the scope or substance of any section of this Agreement.

 

 13.  In the event that any provision of this Agreement shall be invalid, illegal or otherwise unenforceable, the validity, legality and enforceability of the remaining provisions shall in no way be affected or impaired thereby.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year set forth above.

BioSig Technologies, Inc.

 /s/ Kenneth L Londoner                                                            

Kenneth L. Londoner, CEO and Chairman

Consultant

 

  /s/ Jonathan Steinhouse                                                          

Jonathan Steinhouse

 

  

  

  

 

EXHIBIT A

DESCRIPTION OF CONSULTING SERVICES

	
Description of Services:

 

Provide consulting to the Company’s R&D team on use and integration of Oracle Health Sciences’ products.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}]]