Document:

Dotronix, Inc. Exhibit 10.39 to Form 10-KSB for the Fiscal year ended June 30, 2006

Exhibit 10.39

 

AGREEMENT

 

This Agreement, made and effective this 6th day of September 2006, by and between GRAND SIERRA OPERATING CORP., a Nevada corporation (“Grand Sierra”) and DOTRONIX, INC., a Minnesota corporation (“Dotronix”).

 

WITNESSETH, Whereas Grand Sierra is developing hotel condominium units at the Grand Sierra Resort in Reno, Nevada, and desires to obtain the services of Dotronix in assisting with the marketing of such condominium units; and 

 

FURTHER WHEREAS Dotronix desires to assist Grand Sierra with such marketing efforts on the terms and conditions contained in this Agreement.

 

NOW, THEREFORE, for valuable consideration and upon the mutual promises and covenants contained herein, the parties hereto agree as follows:

 

	
             
 	
            1.
 	
            For the services required by Dotronix on behalf of Grand Sierra and set forth in this Agreement, Grand Sierra shall pay Dotronix monthly a fee of Fifteen Thousand Dollars ($15,000.00), with the initial monthly payment due upon the execution of the parties to this Agreement, and each following monthly payment shall be made on or before the same day of each succeeding month that this Agreement is in effect.
 

	
             
 	
            2.
 	
            Dotronix shall assist Grand Sierra with the marketing of such condominium units by obtaining the services of certain registered real estate brokers to sell such condominium units to residential, business or investment consumers.
 

	
             
 	
            3.
 	
            Any sales of such condominium units by registered brokers obtained by Dotronix shall be made on a non-exclusive basis insofar as the offering of such units is concerned, meaning that no one or more of such condominium units will be reserved by Grand Sierra for a purchaser unless and until the purchaser has entered into the standard Grand Sierra purchase agreement and made the required down payment for each condominium unit from Grand Sierra.
 

	
             
 	
            4.
 	
            Sales of Condominium units shall be limited to Grand Sierra’s available inventory at the time of sale, and prior to any sale Grand Sierra must have confirmed that any such condominium unit is available for sale.
 

	
             
 	
            5.
 	
            The purchase price for the condominium units shall be set forth for each unit on the attached Appendix A.
 

	
             
 	
            6.
 	
            Grand Sierra shall be permitted to market any of such condominium units directly or through any other agent not obtained by Dotronix, and in any area where Dotronix is assisting with marketing under the terms of this agreement.
 

	
             
 	
            7.
 	
            All sales of such condominium units shall be conducted and executed by purchasers and registered brokers using the most current form Purchase and Sales Agreement, Unit Maintenance Agreement, and any other Grand Sierra sales-related documents required by Grand Sierra. Additionally, any registered real estate broker, or agent thereof, making a condominium unit sale shall provide each purchaser with a copy of Grand Sierra’s most recent Public Offering Statement on the day any such purchaser executes the sales documents. All sales documents and such Public Offering Statement are subject to change by Grand Sierra. Current sales documents shall be provided by Grand Sierra upon request.
 

	
             
 	
            8.
 	
            Any licensed or registered real estate broker, or agent thereof, involved in conducting sale efforts on behalf of Grand Sierra shall at all times represent the Grand Sierra project to all third parties, including but not limited to Purchasers and Potential Purchasers, in a manner consistent with Grand Sierra’s “Certification of Real Estate Agent Regarding Representations Made To Prospective Purchasers”. Any such broker or agent thereof who has had contact with any Purchaser prior to the sale of a condominium unit shall execute such Agent’s Certificate and include it with the sales documents executed by the purchaser of the unit.
 

	
             
 	
            9.
 	
            A commission, based as a percentage of the purchase of any condominium unit, shall be paid to the licensed/registered real estate broker making the sale at the standard rate being paid by Grand Sierra. Such commission shall not be due and payable if the purchase is not consummated at the closing by the purchaser, for any reason. In the event any Purchase and Sales Agreement is terminated and any earnest money or similar deposit is retained by Grand Sierra as damages, the real estate broker and/or agent thereof involved in the terminated sale shall not be entitled to any amount of such damages.
 

	
             
 	
            10.
 	
            Upon the procurement of any interested purchaser, the involved licensed broker or agent thereof shall proceed with the purchaser as follows:
 

	
             
 	
            a.
 	
            Identify the potential purchaser to Grand Sierra;
 

	
             
 	
            b.
 	
            Indicate the actual condominium unit the purchaser is interested in and request from Grand Sierra confirmation the unit is available for sale;
 

	
             
 	
            c.
 	
            after receiving the confirmation from Grand Sierra that a unit is available, obtaining the earnest money for the unit(s) from the purchaser along with the sales documents which have been executed by the purchaser, and forwarding or delivering such earnest money and sales documents to Grand Sierra.
 

 

Grand Sierra shall not sell any unit to a purchaser first identified to Grand Sierra as set forth in this section 10. 

 

	
             
 	
            11.
 	
            Grand Sierra shall cooperate and supply all marketing materials for the condominium project to brokers or their agents selling units, and to permit their use in connection with sales to prospective purchasers. None of these documents shall be changed or modified in any manner without the express written consent of Grand Sierra.
 

	
             
 	
            12.
 	
            Any real estate brokers or agents or their agents obtained by Dotronix incident to this Agreement shall comply in all respects with all applicable laws in the marketing, offering or sale of such condominium units. This Agreement shall be governed in all respects by the laws of Nevada and, where applicable, the laws of the United States. No amendment or modification or cancellation or withdrawal of this Agreement shall be valid or binding unless consented to in writing by both parties hereto. This Agreement shall be binding upon any successors or assigns of the parties hereto, provided that neither party may assign any rights or obligations hereunder except upon written consent of the other party.
 

	
             
 	
            13.
 	
            Termination – This Agreement shall automatically terminate at the end of any month in which on a cumulative basis starting with September 2006 the efforts of Dotronix has not resulted in the sale of 1.5 hotel condominium units (for example, 3 unites sold in September and 0 units in October would be equivalent to 1.5 units per month), provided that either party hereto shall have the right to terminate this Agreement upon 60 days written notice to the other party hereto.
 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement effective as of the day and year first above written.

 

 

	
            GRAND SIERRA OPERATING CORP.
 	
             
 	
             
 	
            DOTRONIX, INC.
 
	
            By:
 	
            
 /s/ Thomas Schrade
 	
             
 	
            By:
 	
            
 Russell Mitchell
 
	
            Its:
 	
            President
 	
             
 	
            Its:
 	
            Chief Executive OfficerExhibit 10.1

 

STOCK OPTION AGREEMENT FOR NON-EMPLOYEE DIRECTORS

CONAGRA FOODS 2006 STOCK PLAN

 

This Stock Option Agreement, hereinafter referred to as the "Option" or the "Agreement" is made on the __ day of _____________, 200_, between ConAgra Foods, Inc., a Delaware Corporation (the "Company") and the Optionee.

1.        Grant of Option.  The Company hereby grants an Option on shares of the Company's common stock ("Common Stock") to the Optionee, as follows:

Optionee:

Social Security Number:

Number of Shares:

Exercise Price Per Share:  $_____

Date of Grant:  ______________, 200_

Plan Name:  ConAgra Foods 2006 Stock Plan (the “Plan”)

Type of Option:  Non-statutory

IN WITNESS WHEREOF, the Company and the Optionee have caused this Agreement to be executed effective as of the date first written above.  The Company and the Optionee acknowledge that this Agreement includes five pages including the first page.  The Optionee acknowledges reading and agreeing to all five pages and that in the event of any conflict between the terms of this Agreement and the terms of the Plan, the Plan shall control.  Capitalized terms used herein without definition have the meaning set forth in the Plan.

	
            CONAGRA FOODS, INC.
 	
             
 	
             
 	
             
 	
            OPTIONEE
 	
             
 	
             
 
	
            By
 	
             
 	
             
 	
             
 	
             
 	
             
 	
             
 	
             
 
	
             
 	
             
 	
            Date
 	
             
 	
             
 	
             
 	
            Date
 
								

            

 

2.            Exercise of Option.  Subject to the provisions of any insider trading agreement that may be in place between Optionee and the Company (an “Insider Trading Agreement”), this Option shall be exercisable beginning 180 days after the date of this Agreement, and ending on the day preceding the tenth anniversary of the date of this Agreement, all in accordance with the terms of this Agreement and the Plan.   If the Optionee should die prior to the end of the ten year term of this Option, within such ten year term this Option may be exercised by any beneficiary designated by Optionee or, in the absence of such a designation, the surviving spouse of Optionee, if any, or otherwise by the estate of the Optionee.  

(a)  Method of Exercise.  This Option shall be exercisable by a written notice which shall state the election to exercise the Option, identify the portion of the Option being exercised and be accompanied by such additional information and documents as the Company in its discretion may prescribe.  The purchase price of any shares with respect to which the Option is being exercised shall be paid by one or any combination of the following: check, wire transfer, certified or cashier’s check, delivery of shares of Common Stock of the Company at fair market value in accordance with Section 6.4 of the Plan, or (subject to the provisions of any Insider Trading Agreement) by irrevocably authorizing a third party to sell shares of Common Stock (or a sufficient portion thereof) acquired upon exercise
of the Option and remitting to the Company a sufficient portion of the sale proceeds to pay both the entire exercise price and amounts owed under Section 2(c) of this Agreement. 

(b)  Restrictions on Exercise.  As a condition to his/her exercise of this Option, the Company may require the person exercising this Option to make any representation and warranty to the Company as may be required by any applicable law or regulation.

(c)  Payment of Taxes Upon Exercise.  As a condition of the issuance of shares hereunder, the Optionee agrees to remit to the Company at the time of exercise of this Option any 

taxes required to be withheld by the Company under Federal, state or local law as a result of the exercise.  The Optionee may instruct the Company to make an appropriate reduction of the number of shares to be delivered to the Optionee upon exercise in order to satisfy the minimum statutory tax withholding amount permissible.

3.            Non-Transferability of Option.  This Option may not be assigned, transferred, pledged or hypothecated in any manner (otherwise than by will or the laws of descent or distribution), nor may the Optionee enter into any transaction for the purpose of, or which has the effect of, reducing the market risk of holding the option by using puts, calls or similar financial techniques.  This Option may be exercised during the lifetime of the Optionee only by the Optionee. The terms of this Option shall be binding upon the beneficiaries, executors, administrators, heirs, successors and assigns (“Successors”) of the Optionee.

4.            Stock Subject to the Option.  The Company will not be required to issue or deliver any certificate or certificates for shares to be issued hereunder until such shares have been listed (or authorized for listing upon official notice of issuance) upon each stock exchange on which outstanding shares of the same class are then listed and until the Company has taken such steps as may, in the opinion of counsel for the Company, be required by law and applicable regulations, including the rules and regulations of the Securities and Exchange Commission, and State Securities Laws and Regulations, in connection with the issuance or sale of such shares, and the listing of such shares on each such exchange.  The
Company will use its best efforts to comply with any such requirements.

5.            Rights as Stockholder.  The Optionee or his/her Successors shall have no rights as a stockholder with respect to any shares covered by this Option until the Optionee or his/her Successors shall have become the beneficial owner of such shares, and, except as provided in Section 6 of this Agreement, no adjustment shall be made for dividends or distributions or other 

rights in respect of such shares for which the record date is prior to the date on which the Optionee or his/her Successors shall have become the beneficial owner thereof.

6.            Adjustments Upon Changes in Capitalization; Change in Control.  In the event of any Common Stock dividend or Common Stock split, recapitalization (including, without limitation, the payment of an extraordinary dividend), merger, consolidation, combination, spin-off, distribution of assets to stockholders, exchange of shares or similar corporate transaction or event involving the Company, the Committee shall make equitable adjustment in the number of shares subject to this Option and adjustment in the per share Option Price, provided, however, that no fractional share shall be issued upon subsequent exercise of the Option and the aggregate price paid shall be appropriately reduced on account of any
fractional share not issued.  The provisions of Section 12.5 of the Plan related to any “Change of Control” (as defined in the Plan) are applicable to this Agreement.

7.            Notices.  Each notice relating to this Agreement shall be deemed to have been given on the date it is received.  Each notice to the Company shall be addressed to its principal office in Omaha, Nebraska, attention to Compensation.  Each notice to the Optionee or any other person or persons entitled to exercise the Option shall be addressed to the Optionee's address.  Anyone to whom a notice may be given under this Agreement may designate a new address by notice to the effect.

8.            Benefits of Agreement.  This Agreement shall inure to the benefit of and be binding upon each successor of the Company.  All obligations imposed upon the Optionee and all rights granted to the Company under this Agreement shall be binding upon the Optionee's heirs, legal representatives and successors.  This Agreement and the Plan shall be the sole and exclusive source of any and all rights which the Optionee, his heirs and legal representatives or successors may have in respect to the Plan or this Agreement.

9.            Resolution of Disputes.  Any dispute or disagreement which should arise under or as a result of or in any way relate to the interpretation, construction or application of this Agreement will be determined by the Committee.  Any determination made hereafter shall be final, binding and conclusive for all purposes.  This Agreement and the legal relations between the parties hereto shall be governed by and construed in accordance with the laws of the state of Delaware. 

10.          Amendment. Any amendment to the Plan shall be deemed to be an amendment to this Agreement to the extent that the amendment is applicable hereto; provided, however, that no amendment shall adversely affect the rights of the Optionee under this Agreement without the Optionee's consent.

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