Document:

sila_ex1014.htm

EXHIBIT 10.14

DEBT EXCHANGE AGREEMENT

 

This Debt Exchange Agreement (the “Agreement”) is made and entered into as of this 25th day of February, 2013, between Gold American Mining Corp., a Nevada corporation (“SILA”), and Brett Bertolami, a citizen and resident of Davidson, North Carolina (“Bertolami”), and also the President of SILA.

WHEREAS, SILA is indebted to Bertolami pursuant to a promissory note, dated September 25, 2012, in the principal amount of $25,000 (the “Note”), a copy of which is attached as Exhibit A hereto.

WHEREAS, Bertolami desires to exchange the Note in its entirety for 1,000,000 shares of newly issued restricted shares of common stock, $.00001 par value, of SILA, which amounts to a an exchange ratio of $.025 per share.

WHEREAS, SILA desires for good and valuable consideration to exchange and have Bertolami cancel the Note and issue 1,000,000 shares to Bertolami, which exchange rate is in excess of the $.00001 par value per share of common stock, and SILA believes that such exchange is in the best interests of the corporation.

WHEREAS, SILA intends to issue the new shares to Bertolami simultaneously with the closing under an Asset Purchase Agreement among, SILA, Inception Resources LLC, Inception Development, Inc. and Bertolami, dated the date hereof (the “Asset Purchase Agreement”).

WHEREAS, for a period commencing on the date hereof through the earlier of the one year anniversary or the effective date of the Form S-1 Registration Statement (the “Floor Deadline”), SILA has agreed not to issue any of its common stock at a price below $0.35 per share (the “Floor”) in connection with any financing without first obtaining Bertolami’s consent.

NOW, THEREFORE, in consideration of the mutual covenants and promises herein, as well as other good and valuable consideration, the receipt and sufficiency of which the parties hereby acknowledge, it is hereby agreed as follows:

	
1.  

	
Bertolami hereby cancels and exchanges the $25,000 principal amount of the Note with SILA for 1,000,000 shares of common stock of SILA to be issued by SILA, all effective on the closing of the Asset Purchase Agreement and Bertolami hereby confirms that 617,453 shares of common stock shall be subject to that certain Lock-Up Agreement between SILA and Bertolami.

	
2.  

	
The exchange transaction contemplated herein is exempt from the registration provisions of the Securities Act of 1933, as amended, by Rule 506 and Section 4(6) under the Securities Act of 1933, as amended.

 

  

1

  

 

	
3.  

	
SILA will not issue its common stock below the Floor in connection with a financing prior to the Floor Deadline without obtaining Berolami’s consent.

	
4.  

	
Bertolami represents that he is an “accredited investor” as such term is defined in Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended (the “Securities Act”), and that Bertolami is able to bear the economic risk associated with holding the shares to be issued hereunder.   Bertolami recognizes that (a) SILA remains a development stage business with limited operating history and requires substantial funds to continue as a business concern; (b) Bertolami may not be able to liquidate the shares issued hereunder; and (c) Bertolami could sustain the complete loss of any value in the shares issued hereunder.

	
5.  

	
Entire Agreement.  This Debt Exchange Agreement embodies the entire agreement between SILA and Bertolami and supersedes any prior agreements, whether written or oral with respect to the subject matter hereof.

 

	
6.  

	
Successors.  This Debt Exchange Agreement shall be binding upon and shall inure to the benefit of each of the parties to this Debt Exchange Agreement and each of their respective successors and assigns.

 

	
7.  

	
Counterparts.  This Debt Exchange Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original as against any party whose signature appears thereon and all of which together shall constitute one instrument.

 

IN WITNESS WHEREOF, the parties hereto have caused this Debt Exchange Agreement to be duly executed and delivered as of the date first written above.

 

	GOLD AMERICAN MINING CORP.	 
	 	 	 
	
By: 

	/s/ Brett Bertolami	 
	 	Brett Bertolami	 
	 	President	 
	 	 	 
	BRETT BERTOLAMI	 
	 	 
	
By: 

	/s/ Brett Bertolami	 
	 	(In His Individual Capacity)	 

 

  

2

  

EXHIBIT A

 

 

 

 

 

 

 

 

 

3Fera Employment Agreement

Exhibit 10.1

Amendment to Employment Agreement 

WHEREAS, Harland Clarke Holdings Corp., a Delaware corporation (the ''Company''), and Peter Fera (the ''Executive'') entered into an Amended and Restated Employment Agreement (the "Employment Agreement") dated as of January 1, 2011; 

WHEREAS, the Company and the Executive wish to modify certain terms of employment set forth in the Employment Agreement;

NOW, THEREFORE, for good and valuable consideration, the sufficiency of which is hereby acknowledged, the Company and the Executive hereby agree to amend the Employment Agreement, effective as of March 1, 2013, as set forth below:

		
	1.
	Section 3.1 entitled "Salary" shall be amended to reflect a revised annual rate of not less than $550,000 (effective March 1, 2013) less such deductions or amounts to be withheld as required by applicable law and regulations (the "Base Salary").

		
	2.
	Section 4.6 entitled "Release" shall be revised by deleting it in its entirety and replacing it with the following:

Release.  Notwithstanding any other provision of this Agreement to the contrary, the Executive acknowledges and agrees that any and all payments, other than payment of any accrued and unpaid Base Salary to which the Executive is entitled under this Section 4 are conditioned upon and subject to the Executive's execution of a general waiver and release (for the avoidance of doubt, the restrictive covenants contained in Section 5 of this Agreement shall survive the termination of this Agreement), in such form as may be prepared by the Company, of all claims, in the form substantially similar to that attached hereto as Exhibit A, except for such matters covered by provisions of this Agreement which expressly survive the termination of this Agreement.  Notwithstanding anything to the contrary, the severance payments and benefits are conditioned on the Executive's execution, delivery and nonrevocation of the general waiver and release of claims within fifty-five days following the Executive's termination of employment (the "Release Condition").  Payments and benefits of amounts which do not constitute nonqualified deferred compensation and are not subject to Section 409A (as defined below) shall commence five (5) days after the Release Condition is satisfied provided, however, if the fifty-five day period for return of the release begins in one calendar year and ends in a second calendar year, then such payments shall not commence until the second calendar year (even if the Release Condition is satisfied in the first calendar year).  Payments and benefits which are subject to Section 409A shall commence on the 60th day after termination of employment (subject to further delay, if required pursuant to Section 4.7.2 below) provided that the Release Condition is satisfied.

		
	3.
	All other terms and conditions of the Employment Agreement shall otherwise remain in place, except as expressly amended herein.

IN WITNESS WHEREOF, the parties have executed this Amendment to the Employment Agreement effective as of March 1, 2013.
HARLAND CLARKE HOLDINGS CORP.

By:    /s/ Charles Dawson
_________________________________________________
Name:    Charles Dawson
Title:    President and Chief Executive Officer

    
/s/ Peter Fera
_________________________________________________
Peter FeraSingleton Employment Agreement

Exhibit 10.2

Amendment to Employment Agreement 

WHEREAS, Harland Clarke Holdings Corp., a Delaware corporation (the ''Company''), and Daniel Singleton (the ''Executive'') entered into an Amended and Restated Employment Agreement (the "Employment Agreement") dated as of January 1, 2011; 

WHEREAS, the Company and the Executive wish to modify certain terms of employment set forth in the Employment Agreement;

NOW, THEREFORE, for good and valuable consideration, the sufficiency of which is hereby acknowledged, the Company and the Executive hereby agree to amend the Employment Agreement, effective as of March 1, 2013, as set forth below:

		
	1.
	Section 1.1 entitled "Employment Duties" shall be revised by deleting it in its entirety and replacing it with the following:

1.1    Employment Duties.  The Company hereby employs the Executive for the Term (as defined in Section 2.1), to render exclusive and full-time services to the Company as Chief Operating Officer, as well as President and Chief Executive Officer of the "Harland Clarke Business", or in such other executive position as may be mutually agreed upon by the Company and the Executive, and to perform such other duties consistent with such position as may be assigned to the Executive by the Chief Executive Officer ("CEO") of the Company or his designee or the Board of Directors of the Company (the "Board").  During the Term, the Executive shall report solely to the CEO (or his designee).

		
	2.
	Section 3.1 entitled "Salary" shall be amended to reflect a revised annual rate of not less than $750,000 (effective March 1, 2013) less such deductions or amounts to be withheld as required by applicable law and regulations (the "Base Salary").

		
	3.
	Section 4.6 entitled Release shall be revised by deleting it in its entirety and replacing it with the following:

Release.  Notwithstanding any other provision of this Agreement to the contrary, the Executive acknowledges and agrees that any and all payments, other than payment of any accrued and unpaid Base Salary to which the Executive is entitled under this Section 4 are conditioned upon and subject to the Executive's execution of a general waiver and release (for the avoidance of doubt, the restrictive covenants contained in Section 5 of this Agreement shall survive the termination of this Agreement), in such form as may be prepared by the Company, of all claims, in the form substantially similar to that attached hereto as Exhibit A, except for such matters covered by provisions of this Agreement which expressly survive the termination of this Agreement.  Notwithstanding anything to the contrary, the severance payments and benefits are conditioned on the Executive's execution, delivery and nonrevocation of the general waiver and release of claims within fifty-five days following the Executive's termination of employment (the "Release Condition").  Payments and benefits of amounts which do not constitute nonqualified deferred compensation and are not subject to Section 409A (as defined below) shall commence five (5) days after the Release Condition is satisfied provided, however, if the fifty-five day period for return of the release begins in one calendar year and ends in a second calendar year, then such payments shall not commence until the second calendar year (even if the Release Condition is satisfied in the first calendar year).  Payments and benefits which are subject to Section 409A shall commence on the 60th day after termination of employment (subject to further delay, if required pursuant to Section 4.7.2 below) provided that the Release Condition is satisfied.

		
	4.
	All other terms and conditions of the Employment Agreement shall otherwise remain in place, except as expressly amended herein.

IN WITNESS WHEREOF, the parties have executed this Amendment to the Employment Agreement effective as of March 1, 2013.
HARLAND CLARKE HOLDINGS CORP.

By:    /s/ Charles Dawson
_________________________________________________
Name:    Charles Dawson
Title:    President and Chief Executive Officer

/s/ Daniel Singleton
_________________________________________________
Daniel Singleton

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