Document:

Liberty Star Uranium & Metals Corp.: Exhibit 10.1 - Filed by newsfilecorp.com

 

NEITHER THIS NOTE NOR THE SECURITIES THAT MAY BE ISSUED BY THE
COMPANY UPON CONVERSION HEREOF (COLLECTIVELY, THE “SECURITIES”) HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR THE
SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THE SECURITIES NOR
ANY INTEREST OR PARTICIPATION THEREIN MAY BE OFFERED FOR SALE, SOLD, TRANSFERRED
OR ASSIGNED: (I) IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE
SECURITIES UNDER THE 1933 ACT, OR APPLICABLE STATE SECURITIES LAWS; OR (II) IN
THE ABSENCE OF AN OPINION OF COUNSEL, IN A FORM ACCEPTABLE TO THE ISSUER, THAT
REGISTRATION IS NOT REQUIRED UNDER THE 1933 ACT OR; (III) UNLESS SOLD,
TRANSFERRED OR ASSIGNED PURSUANT TO RULE 144 UNDER THE 1933 ACT. 

12% CONVERTIBLE PROMISSORY NOTE 

MATURITY DATE OF SEPTEMBER 29, 2016 *THE “MATURITY DATE” 

$50,000 DECEMBER 29, 2015 *THE “ISSUANCE DATE” 

FOR VALUE RECEIVED, Liberty Star Uranium & Metals Corp., a
Nevada Corporation (the “Company”) doing business in Tucson, AZ, hereby promises
to pay to the order of JSJ Investments Inc., an accredited investor and Texas
Corporation, or its assigns (the “Holder”), the principal amount of Fifty
Thousand Dollars ($50,000) (“Note”), on demand of the Holder at any time on or
after September 29, 2016 (the “Maturity Date”), and to pay interest on the
unpaid principal balance hereof at the rate of Twelve Percent (12%) per
annum (the “Interest Rate”) commencing on the date hereof (the “Issuance
Date”).

	1. 	
      Payments of Principal and Interest.

	 	 	 
		a. 	
      Pre-Payment of Principal. The Company may pay this Note
      in full, together with any and all accrued and unpaid interest, plus any
      applicable pre-payment premium set forth herein and subject to the terms
      of this Section 1.a, at any time on or prior to the date which occurs 180
      days after the Issuance Date hereof (the “Prepayment Date”). In the event
      the Note is not prepaid in full on or before the Prepayment Date, it shall
      be deemed a “Pre-Payment Default” hereunder. Until the Ninetieth (90th)
      day after the Issuance Date the Company may pay the principal at a cash
      redemption premium of 135%, in addition to outstanding interest, without
      the Holder’s consent; from the 91st day to the One Hundred and Twentieth
      (120th) day after the Issuance Date, the Company may pay the principal at
      a cash redemption premium of 140%, in addition to outstanding interest,
      without the Holder’s consent; from the 121st day to the Prepayment Date,
      the Company may pay the principal at a cash redemption premium of 145%, in
      addition to outstanding interest, without the Holder’s consent. After the
      Prepayment Date up to the Maturity Date this Note shall have a cash
      redemption premium of 150% of the then outstanding principal amount of the
      Note, plus accrued interest and Default Interest, if any, which may only
      be paid by the Company upon Holder’s prior written consent.

	 	 	 
		b. 	
      Demand of Repayment. The principal and interest balance
      of this Note shall be paid to the Holder hereof on demand by the Holder at
      any time on or after the Maturity Date. The Default Amount (defined
      herein), if applicable, shall be paid to Holder hereof on demand by the
      Holder at any time such Default Amount becomes due and payable to
      Holder.

	 	 	 
		c. 	
      Interest. This Note shall bear interest (“Interest”) at
      the rate of Twelve Percent (12%) per annum from the Issuance Date until
      the same is paid, or otherwise converted in accordance with Section 2
      below, in full and the Holder, at the Holder’s sole discretion, may
      include any accrued but unpaid Interest in the Conversion Amount. Interest
      shall commence accruing on the Issuance Date, shall be computed on the
      basis of a 365-day year and the actual number of days elapsed and shall
      accrue daily. Upon an Event of Default, as defined in Section 10 below,
      the Interest Rate shall increase to Fifteen Percent (15%) per annum for so
      long as the Event of Default is continuing (“Default Interest”).

	 	 	 
		d. 	
      General Payment Provisions. This Note shall be paid in
      lawful money of the United States of America by check or wire transfer to
      such account as the Holder may from time to time designate by written
      notice to the Company in accordance with the provisions of this Note.
      Whenever any amount expressed to be due by the terms of this Note is due
      on any day which is not a Business Day (as defined below), the same shall
      instead be due on the next succeeding day which is a Business Day and, in
      the case of any interest payment date which is not the date on which this
      Note is paid in full, the extension of the due date thereof shall not be
      taken into account for purposes of determining the amount of interest due
      on such date. For purposes of this Note, “Business Day” shall mean any day
      other than a Saturday, Sunday or a day on which commercial banks in the
      State of Texas are authorized or required by law or executive order to
      remain closed.

	 	 	 
	2. 	
      Conversion of Note. At any time after the Prepayment
      Date, which is also the Rule 144 restriction date of 180 days from date of
      execution of this note, including prior to, upon, or after the Maturity
      Date, the Conversion Amount (see Paragraph 2(a)(i)) of this Note shall be
      convertible into shares of the Company’s common stock (the “Common Stock”)
      according to the terms and conditions set forth in this Paragraph
  2.

	 	 	 
		a. 	
      Certain Defined Terms. For purposes of this Note, the
      following terms shall have the following meanings:

1 

 

	 	i. 	
      “Conversion Amount” means the sum of (a) the principal
      amount of this Note to be converted with respect to which this
      determination is being made, (b) Interest; and (c) Default Interest, if
      any, if so included at the Holder’s sole discretion.

	 	 	 
	 	ii. 	
      “Conversion Price” means the lower of: (i) a 45% discount
      to the second (2nd) lowest trading price during the previous
      ten (10) trading days to the date of a Conversion Notice; or (ii) a 45%
      discount to the second (2nd) lowest trading price during the
      previous ten (10) trading days before the date that this note was
      executed. By way of example if the company's common stock trades at $.0028
      on nine separate occasions and at $.0029 one time during the pricing
      period, then the 2nd lowest trade would be $.0029 per share.

	 	 	 
	 	iii. 	
      “Person” means an individual, a limited liability
      company, a partnership, a joint venture, a corporation, a trust, an
      unincorporated organization and a government or any department or agency
      thereof.

	 	 	 
	 	iv. 	
      “Shares” means the Shares of the Common Stock of the
      Company into which any balance on this Note may be converted upon
      submission of a “Conversion Notice” to the Company substantially in the
      form attached hereto as Exhibit 1.

	 	b. 	
      Holder’s Conversion Rights. At any time after the
      Prepayment Date, including prior to, upon, or after the Maturity Date, the
      Holder shall be entitled to convert all of the outstanding and unpaid
      principal amount of this Note into fully paid and non-assessable shares of
      Common Stock in accordance with the stated Conversion Price. The Holder
      shall not be entitled to convert on a Conversion Date that amount of the
      Note in connection with that number of shares of Common Stock which would
      be in excess of the sum of the number of shares of Common Stock issuable
      upon the conversion of the Note with respect to which the determination of
      this provision is being made on a Conversion Date, which would result in
      beneficial ownership by the Holder and its affiliates of more than 4.99%
      of the outstanding shares of Common Stock of the Company on such
      Conversion Date. For the purposes of the provision to the immediately
      preceding sentence, beneficial ownership shall be determined in accordance
      with Section 13(d) of the Securities Exchange Act of 1934, as amended, and
      Regulation 13d-3 thereunder. Subject to the foregoing, the Holder shall
      not be limited to aggregate conversions of 4.99% (“Conversion Limitation
      1”). The Holder shall have the authority to determine whether the
      restriction contained in this Section 2(b) will limit any
      conversion hereunder. The Holder may waive the conversion limitation
      described in this Section 2(b), in whole or in part, upon and
      effective after 61 days prior written notice to the Company to increase
      such percentage to up to 9.99% or any other amount as determined by Holder
      in its sole discretion (“Conversion Limitation 2”).

	 	 	 
	 	c. 	
      Fractional Shares. The Company shall not issue any
      fraction of a share of Common Stock upon any conversion; if such issuance
      would result in the issuance of a fraction of a share of Common Stock, the
      Company shall round such fraction of a share of Common Stock up to the
      nearest whole share except in the event that rounding up would violate the
      conversion limitation set forth in section 2(b) above.

	 	 	 
	 	d. 	
      Conversion Amount. The Conversion Amount shall be
      converted pursuant to Rule 144(b)(1)(ii) and Rule 144(d)(1)(ii) as
      promulgated by the Securities and Exchange Commission under the Securities
      Act of 1933, as amended, into unrestricted shares at the Conversion Price
      180 days after the date of this note.

	 	 	 
	 	e. 	
      Mechanics of Conversion. The conversion of this Note
      shall be conducted in the following manner:

	 	i. 	
      Holder’s Conversion Requirements. To convert this Note
      into shares of Common Stock on any date set forth in the Conversion Notice
      by the Holder (the “Conversion Date”), the Holder shall transmit by email,
      facsimile or otherwise deliver, for receipt on or prior to 11:59 p.m.,
      Eastern Time, on such date or on the next business day, a copy of a fully
      executed notice of conversion in the form attached hereto as Exhibit 1 to
      the Company.

	 	 	 
	 	ii. 	
      Company’s Response. Upon receipt by the Company of a copy
      of a Conversion Notice, the Company shall as soon as practicable, but in
      no event later than one (1) Business Day after receipt of such Conversion
      Notice, send, via email, facsimile or overnight courier, a confirmation of
      receipt of such Conversion Notice to such Holder indicating that the
      Company will process such Conversion Notice in accordance with the terms
      herein. Within two (2) Business Days after the date the Conversion Notice
      is delivered, the Company shall have issued and electronically transferred
      the shares to the Broker indicated in the Conversion Notice; should the
      Company be unable to transfer the shares electronically, it shall, within
      two (2) Business Days after the date the Conversion Notice was delivered,
      have surrendered to an overnight courier for delivery the next day to the
      address as specified in the Conversion Notice, a certificate, registered
      in the name of the Holder, for the number of shares of Common Stock to
      which the Holder shall be entitled.

	 	 	 
	 	iii. 	
      Record Holder. The person or persons entitled to receive
      the shares of Common Stock issuable upon a conversion of this Note shall
      be treated for all purposes as the record holder or holders of such shares
      of Common Stock on the Conversion Date.

	 	 	 
	 	iv. 	
      Timely Response by Company. Upon receipt by Company of a
      Conversion Notice, Company shall respond within 2 business day to Holder
      confirming the details of the Conversion, and provide within two business
      days the Shares requested in the Conversion Notice.

	 	 	 
	 	v. 	
      Liquidated Damages for Delinquent Response. If the
      Company fails to deliver for whatever reason (including any neglect or
      failure by, e.g., the Company, its counsel or the transfer agent)
      to Holder the Shares as requested in a Conversion Notice within five (5)
      business days of the Conversion Date, the Company shall be deemed in
      “Default of Conversion.” Beginning on the sixth 6th) business day after
      the date of the Conversion Notice, after the Company is deemed in
      Default of Conversion, there shall accrue liquidated damages (the
      “Conversion Damages”) of Additional Shares due to Holder equal to
      Twenty-Five percent (25%) of the number stated in the Conversion Notice
      and for every five (5) Trading Days while a Default of Conversion is in
      effect and continuing the Company shall continue to incur a Conversion
      Penalty in the amount of Twenty-Five percent (25%) of the number of shares
      stated in the Conversion Notice issuable to Holder (the “Additional
      Shares”), which may be applied to the Conversion at the Holder’s election
      except in the case of the failure of the Transfer Agent, or acts of God or
      war. The Additional Shares shall be issued and the amount of the Note
      retired will not be reduced beyond that stated in the Conversion Notice.
      If the Additional Shares owed the Holder cause the Shares requested by the
      Conversion Notice to exceed Conversion Limitation 1 or Conversion
      Limitation 2, as applicable, the Holder may opt instead to have the
      Conversion Amount reduced by the value, as calculated using the Conversion
      Price, of the Additional Shares owing to Holder pursuant to this Section
      2(e)(v). At any time after a Default of Conversion the Holder may, at
      their sole discretion, rescind the Conversion. The Parties agree that, at
      the time of drafting of this Note, the Holder’s damages as to the
      delinquent response are incapable or difficult to estimate and that the
      liquidated damages called for is a reasonable forecast of just
  compensation.

2 

 

	 	vi. 	
      Liquidated Damages for Inability to Issue Shares. If the
      Company fails to deliver Shares requested by a Conversion Notice due to an
      exhaustion of authorized and issuable common stock such that the Company
      must increase the number of shares of authorized Common Stock before the
      Shares requested may be issued to the Holder, the discount set forth in
      the Conversion Price will be increased by 5% for the Conversion Notice in
      question and all future Conversion Notices until the outstanding principal
      and interest of the Note is converted or paid in full. These liquidated
      damages shall not render the penalties prescribed by Paragraph 2(e)(v)
      void, and shall be applied in conjunction with Paragraph 2(e)(v) unless
      otherwise agreed to in writing by the Holder. The Parties agree that, at
      the time of drafting of this Note, the Holder’s damages as to the
      inability to issue shares are incapable or difficult to estimate and that
      the liquidated damages called for is a reasonable forecast of just
      compensation.

	 	 	 
	 	vii. 	
      Rescindment of Conversion Notice. If: (i) the Company
      fails to respond to Holder within 2 business days from the date of
      delivery of a Conversion Notice confirming the details of the Conversion,
      (ii) the Company fails to provide the Shares requested in the Conversion
      Notice within three business days from the date of the delivery of the
      Conversion Notice, (iii) the Holder is unable to procure a legal opinion
      required to have the Shares issued unrestricted and/or deposited to sell
      for any reason related to the Company's standing with the SEC or FINRA, or
      any action or inaction by the Company, (iv) the Holder is unable to
      deposit the Shares requested in the Conversion Notice for any reason
      related to the Company's standing with the SEC or FINRA, or any action or
      inaction by the Company, (v) if the Holder is informed that the Company
      does not have the authorized and issuable Shares available to satisfy the
      Conversion, or (vi) if OTC Markets changes the Company's designation to
      'Limited Information' (Yield), 'No Information' (Stop Sign), 'Caveat
      Emptor' (Skull and Crossbones), or 'OTC', 'Other OTC' or 'Grey Market'
      (Exclamation Mark Sign) on the day of or any day after the date of the
      Conversion Notice, the Holder maintains the option and sole discretion to
      rescind the Conversion Notice ("Rescindment") by delivering a notice of
      rescindment to the Company in the same manner that a Conversion Notice is
      required to be delivered to the Company pursuant to the terms of this
      Note.

	 	 	 
	 	viii. 	
      Transfer Agent Fees and Legal Fees. The issuance of the
      certificates shall be without charge or expense to the Holder. The Company
      shall pay any and all Transfer Agent fees, legal fees, and advisory fees
      required for execution of this Note and processing of any Notice of
      Conversion, including but not limited to the cost of obtaining a legal
      opinion with regard to the Conversion. The Holder will deduct $1,000 from
      the principal payment of the Note solely to cover the cost of obtaining
      any and all legal opinions required to obtain the Shares requested in any
      given Conversion Notice. These fees do not make provision for or suffice
      to defray any legal fees incurred in collection or enforcement of the Note
      as described in Paragraph 13.

	 	 	 
	 	ix. 	
      Conversion Right Unconditional. If the Holder shall
      provide a Notice of Conversion as provided herein, the Company’s
      obligations to deliver Common Stock shall be absolute and unconditional,
      irrespective of any claim of setoff, counterclaim, recoupment, or alleged
      breach by the Holder of any obligation to the
Company.

	3. 	
      Other Rights of Holder: Reorganization, Reclassification,
      Consolidation, Merger or Sale. Any recapitalization, reorganization,
      reclassification, consolidation, merger, sale of all or substantially all
      of the Company’s assets to another Person or other transaction which is
      effected in such a way that holders of Common Stock are entitled to
      receive (either directly or upon subsequent liquidation) stock, securities
      or assets with respect to or in exchange for Common Stock is referred to
      herein as “Organic Change.” Prior to the consummation of any (i) Organic
      Change or (ii) other Organic Change following which the Company is not a
      surviving entity, the Company will secure from the Person purchasing such
      assets or the successor resulting from such Organic Change (in each case,
      the “Acquiring Entity”) a written agreement (in form and substance
      reasonably satisfactory to the Holder) to deliver to Holder in exchange
      for this Note, a security of the Acquiring Entity evidenced by a written
      instrument substantially similar in form and substance to this Note, and
      reasonably satisfactory to the Holder. Prior to the consummation of any
      other Organic Change, the Company shall make appropriate provision (in
      form and substance reasonably satisfactory to the Holder) to ensure that
      the Holder will thereafter have the right to acquire and receive in lieu
      of or in addition to (as the case may be) the shares of Common Stock
      immediately theretofore acquirable and receivable upon the conversion of
      the Note, such shares of stock, securities or assets that would have been
      issued or payable in such Organic Change with respect to or in exchange
      for the number of shares of Common Stock which would have been acquirable
      and receivable upon the conversion of the Note as of the date of such
      Organic Change (without taking into account any limitations or
      restrictions on the convertibility of the Note set forth in Section 2(b)
      or otherwise). All provisions of this Note must be included to the
      satisfaction of Holder in any new Note created pursuant to this
      section.

3 

 

	4. 	
      Representations and Warranties of the Company. In
      connection with the transactions provided for herein, the Company hereby
      represents and warrants to the Holder the following:

	 	 	 	 
		a. 	
      Organization, Good Standing and Qualification. The
      Company is a corporation duly organized, validly existing and in good
      standing under the laws of the state of its incorporation and has all
      requisite corporate power and authority to carry on its business as now
      conducted. The Company is duly qualified to transact business and is in
      good standing in each jurisdiction in which the failure to so qualify
      would have a material adverse effect on its business or
  properties.

	 	 	 	 
		b. 	
      Authorization. All corporate action has been taken on the
      part of the Company, its officers, directors and stockholders necessary
      for the authorization, execution and delivery of this Agreement. The
      Company has taken all corporate action required to make all of the
      obligations of the Company reflected in the provisions of this Agreement,
      valid and enforceable obligations. The shares of capital stock issuable
      upon conversion of the Note have been authorized or will be authorized
      prior to the issuance of such shares.

	 	 	 	 
		c. 	
      Fiduciary Obligations. The Company hereby represents that
      it intends to use the proceeds of the Note primarily for the operations of
      its business and not for any personal, family, or household purpose. The
      Company hereby represents that its board of directors, in the exercise of
      its fiduciary duty, has approved the execution of this Agreement based
      upon a reasonable belief that the proceeds of the Note provided for herein
      is appropriate for the Company after reasonable inquiry concerning its
      financial objectives and financial situation.

	 	 	 	 
		d. 	
      Data Request Form. The Company hereby represents and
      warrants to Holder that all of the information furnished to Holder
      pursuant to the data request form (“DRF”) dated December 21, 2015 is true
      and correct in all material respects as of the date hereof.

	 	 	 	 
	5. 	
      Covenants of the Company.

	 	 	 	 
		a. 	
      So long as the Company shall have any obligations under
      this Note, the Company shall not without the Holder’s prior written
      consent redeem, repurchase, or otherwise acquire (whether for cash or in
      exchange for property or other securities) in any one transaction or
      series of transactions any shares of capital stock of the Company, acquire
      any such shares.

	 	 	 	 
	6. 	
      Trading Activities. Neither the Holder nor its affiliates
      has an open short position in the common stock of the Company and the
      Holder agrees that it shall not, and that it will cause its affiliates not
      to, engage in any short sales of or hedging transactions with respect to
      the common stock of the Company.

	 	 	 	 
	7. 	
      Reservation of Shares. The Company shall at all times, so
      long as any principal amount of the Note is outstanding, reserve and keep
      available out of its authorized and unissued shares of Common Stock,
      solely for the purpose of effecting the conversion of the Note, such
      number of shares of Common Stock as shall at all times be sufficient to
      effect the conversion of all of the principal amount, plus Interest and
      Default Interest, if any, of the Note then outstanding (“Share Reserve”).
      The initial number of shares of Common Stock reserved for conversions of
      the Note shall be calculated as four times the number of shares necessary
      to convert the entire value of the Note on the day it was executed, unless
      the Holder stipulates otherwise in the “Irrevocable Letter of Instructions
      to the Transfer Agent.” So long as this Note is outstanding, upon written
      request of the Holder or via telephonic communication, the Company’s
      Transfer Agent shall furnish to the Holder the then-current number of
      common shares issued and outstanding, the then-current number of common
      shares authorized, the then-current number of unrestricted shares, and the
      then-current number of shares reserved for third parties.

	 	 	 	 
	8. 	
      Voting Rights. The Holder of this Note shall have no
      voting rights as a note holder, except as required by law, however, upon
      the conversion of any portion of this Note into Common Stock, Holder shall
      have the same voting rights as all other Common Stock holders with respect
      to such shares of Common Stock then owned by Holder.

	 	 	 	 
	9. 	
      Reissuance of Note. In the event of a conversion or
      redemption pursuant to this Note of less than all of the Conversion Amount
      represented by this Note, the Company shall promptly cause to be issued
      and delivered to the Holder, upon tender by the Holder of the Note
      converted or redeemed, a new note of like tenor representing the remaining
      principal amount of this Note which has not been so converted or redeemed
      and which is in substantially the same form as this Note, as set forth
      above.

	 	 	 	 
	10. 	
      Default and Remedies.

	 	 	 	 
		a. 	
      Event of Default. For purposes of this Note, an “Event of
      Default” shall occur upon:

	 	 	 	 
			i. 	
      the Company’s default in the payment of the outstanding
      principal, Interest or Default Interest of this Note when due, whether at
      Maturity, acceleration or otherwise;

	 	 	 	 
			ii. 	
      the occurrence of a Default of Conversion as set forth in
      Section 2(e)(v);

	 	 	 	 
			iii. 	
      the failure by the Company for ten (10) days after notice
      to it to comply with any material provision of this Note not included in
      this Section 10(a);

	 	 	 	 
			iv. 	
      the Company’s Purposeful breach of any covenants,
      warranties, or representations made by the Company herein;

	 	 	 	 
			v. 	
      any of the information in the DRF is false or misleading
      in any material respect;

	 	 	 	 
			vi. 	
      the default by the Company in any Other Agreement entered
      into by and between the Company and Holder, for purposes hereof “Other
      Agreement” shall mean, collectively, all agreements and instruments
      between, among or by: (1) the Company, and, or for the benefit of, (2) the
      Holder and any affiliate of the Holder, including without limitation,
      promissory notes;

	 	 	 	 
			vii. 	
      the cessation of operations of the Company or a material
      subsidiary;

4 

 

	 	viii. 	
      the Company pursuant to or within the meaning of any
      Bankruptcy Law; (a) commences a voluntary case; (b) consents to the entry
      of an order for relief against it in an involuntary case; (c) consents to
      the appointment of a Custodian of it or for all or substantially all of
      its property; (d) makes a general assignment for the benefit of its
      creditors; or (e) admits in writing that it is generally unable to pay its
      debts as the same become due;

	 	 	 
	 	ix. 	
      court of competent jurisdiction entering an order or
      decree under any Bankruptcy Law that: (a) is for relief against the
      Company in an involuntary case; (b) appoints a Custodian of the Company or
      for all or substantially all of its property; or (c) orders the
      liquidation of the Company or any subsidiary, and the order or decree
      remains unstayed and in effect for thirty (30) days;

	 	 	 
	 	x. 	
      the Company files a Form 15 with the SEC;

	 	 	 
	 	xi. 	
      the Company’s failure to timely file all reports required
      to be filed by it with the Securities and Exchange Commission;

	 	 	 
	 	xii. 	
      the Company’s failure to timely file all reports required
      to be filed by it with OTC Markets to remain a “Current Information”
      designated company;

	 	 	 
	 	xiii. 	
      the Company’s Common Stock is reported as “No Inside” by
      OTC Markets at any time while any principal, Interest or Default Interest
      under the Note remains outstanding;

	 	 	 
	 	xiv. 	
      the Company’s failure to maintain the required Share
      Reserve pursuant to the terms of the Irrevocable Letter of Instructions to
      the Transfer Agent;

	 	 	 
	 	xv. 	
      the Company directs its transfer agent not to transfer,
      or delays, impairs, or hinders its transfer agent in transferring or
      issuing (electronically or in certificated form) any certificate for
      Shares of Common Stock to be issued to the Holder upon conversion of or
      otherwise pursuant to this Note as and when required by this Note, or
      fails to remove (or directs its transfer agent not to remove or impairs,
      delays and/or hinders its transfer agent from removing) any restrictive
      legend (or to withdraw and stop transfer instructions) on any certificate
      for any Shares of Common Stock issued to the Holder upon conversion of or
      otherwise pursuant to this Note as and when required by this Note (or
      makes any written announcement, statement or threat that it does not
      intend to honor its obligations pursuant to a Conversion Notice submitted
      by the Holder) and any such failure shall continue uncured for three (3)
      Business Days after the Conversion Notice has been delivered to the
      Company by Holder;

	 	 	 
	 	xvi. 	
      the Company’s failure to remain current in its billing
      obligations with its transfer agent and such delinquency causes the
      transfer agent to refuse to issue Shares to Holder pursuant to a
      Conversion Notice;

	 	 	 
	 	xvii. 	
      the Company effectuates a reverse split of its Common
      Stock and fails to provide twenty (20) days prior written notice to Holder
      of its intention to do so; or

	 	 	 
	 	xviii. 	
      OTC Markets changes the Company's designation to 'No
      Information' (Stop Sign), 'Caveat Emptor' (Skull and Crossbones), or
      'OTC', 'Other OTC' or 'Grey Market' (Exclamation Mark
  Sign).

The Term “Bankruptcy Law” means Title
11, U.S. Code, or any similar Federal or State Law for the relief of debtors.
The term “Custodian” means any receiver, trustee, assignee, liquidator or
similar official under any Bankruptcy Law. 

	 	b. 	
      Remedies. If an Event of Default occurs, the Holder may
      in its sole discretion determine to request immediate repayment of all or
      any portion of the Note that remains outstanding; at such time the Company
      will be required to pay the Company the Default Amount (defined herein) in
      cash. For purposes hereof, the “Default Amount” shall mean: the product of
      (A) the then outstanding principal amount of the Note, plus accrued
      Interest and Default Interest, divided by (B) the Conversion Price as
      determined on the Issuance Date, multiplied by (C) the highest price at
      which the Common Stock traded at any time between the Issuance Date and
      the date of the Event of Default. If the Company fails to pay the Default
      Amount within five (5) Business Days of written notice that such amount is
      due and payable, then Holder shall have the right at any time, so long as
      the Company remains in default (and so long and to the extent there are a
      sufficient number of authorized but unissued shares), to require the
      Company, upon written notice, to immediately issue, in lieu of the Default
      Amount, the number of shares of Common Stock of the Company equal to the
      Default Amount divided by the Conversion Price then in
  effect.

	11. 	
      Vote to Change the Terms of this Note. This Note and any
      provision hereof may only be amended by an instrument in writing signed by
      the Company and the Holder.

	 	 
	12. 	
      Lost or Stolen Note. Upon receipt by the Company of
      evidence satisfactory to the Company of the loss, theft, destruction or
      mutilation of this Note, and, in the case of loss, theft or destruction,
      of an indemnification undertaking by the Holder to the Company in a form
      reasonably acceptable to the Company and, in the case of mutilation, upon
      surrender and cancellation of the Note, the Company shall execute and
      deliver a new Note of like tenor and date and in substantially the same
      form as this Note;. provided, however, the Company shall not be obligated
      to re-issue a Note if the Holder contemporaneously requests the Company to
      convert such remaining principal amount, plus accrued Interest and Default
      Interest, if any, into Common Stock.

	 	 
	13. 	
      Payment of Collection, Enforcement and Other Costs. If:
      (i) this Note is placed in the hands of an attorney for collection or
      enforcement or is collected or enforced through any legal proceeding; or
      (ii) an attorney is retained to represent the Holder of this Note in any
      bankruptcy, reorganization, receivership or other proceedings affecting
      creditors’ rights and involving a claim under this Note, then the Company
      shall pay to the Holder all reasonable attorneys’ fees, costs and expenses
      incurred in connection therewith, in addition to all other amounts due
      hereunder.

	 	 
	14. 	
      Cancellation. After all principal, accrued Interest and
      Default Interest, if any, at any time owed on this Note has been paid in
      full or otherwise converted in full, this Note shall automatically be
      deemed canceled, shall be surrendered to the Company for cancellation and
      shall not be reissued.

5 

 

	15. 	
      Waiver of Notice. To the extent permitted by law, the
      Company hereby waives demand, notice, protest and all other demands and
      notices in connection with the delivery, acceptance, performance, default
      or enforcement of this Note.

	 	 
	16. 	
      Governing Law. This Note shall be construed and enforced
      in accordance with, and all questions concerning the construction,
      validity, interpretation and performance of this Note shall be governed
      by, the laws of the State of Texas, without giving effect to provisions
      thereof regarding conflict of laws. Each party hereby irrevocably submits
      to the non-exclusive jurisdiction of the state and federal courts sitting
      in Texas for the adjudication of any dispute hereunder or in connection
      herewith or with any transaction contemplated hereby or discussed herein,
      and hereby irrevocably waives, and agrees not to assert in any suit,
      action or proceeding, any claim that it is not personally subject to the
      jurisdiction of any such court, that such suit, action or proceeding is
      brought in an inconvenient forum or that the venue of such suit, action or
      proceeding is improper. Each party hereby irrevocably waives personal
      service of process and consents to process being served in any such suit,
      action or proceeding by sending, through certified mail or overnight
      courier, a copy thereof to such party at the address for such notices to
      it under this Agreement and agrees that such service shall constitute good
      and sufficient service of process and notice thereof. Nothing contained
      herein shall be deemed to limit in any way any right to serve process in
      any manner permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY
      RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE
      ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING
      OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

	 	 
	17. 	
      Remedies, Characterizations, Other Obligations, Breaches
      and Injunctive Relief. The remedies provided in this Note shall be
      cumulative and in addition to all other remedies available under this
      Note, at law or in equity (including a decree of specific performance
      and/or other injunctive relief), and no remedy contained herein shall be
      deemed a waiver of compliance with the provisions giving rise to such
      remedy and nothing herein shall limit the Holder’s right to pursue actual
      damages for any failure by the Company to comply with the terms of this
      Note. The Company covenants to the Holder that there shall be no
      characterization concerning this instrument other than as expressly
      provided herein. Amounts set forth or provided for herein with respect to
      payments, conversion and the like (and the computation thereof) shall be
      the amounts to be received by the Holder thereof and shall not, except as
      expressly provided herein, be subject to any other obligation of the
      Company (or the performance thereof).

	 	 
	18. 	
      Specific Shall Not Limit General; Construction. No
      specific provision contained in this Note shall limit or modify any more
      general provision contained herein. This Note shall be deemed to be
      jointly drafted by the Company and the Holder and shall not be construed
      against any person as the drafter hereof.

	 	 
	19. 	
      Failure or Indulgence Not Waiver. No failure or delay on
      the part of the Holder in the exercise of any power, right or privilege
      hereunder shall operate as a waiver thereof, nor shall any single or
      partial exercise of any such power, right or privilege preclude further
      exercise thereof or of any other right, power or privilege.

	 	 
	20. 	
      Partial Payment. In the event of partial payment by the
      Holder, the principal sum due to the Holder shall be prorated based on the
      consideration actually paid by the Holder such that the Company is only
      required to repay the amount funded and the Company is not required to
      repay any unfunded portion of this Note, with the exception of any OID
      contemplated herein.

	 	 
	21. 	
      Entire Agreement. This Agreement constitutes the full and
      entire understanding and agreement between the parties with regard to the
      subjects herein. None of the terms of this Agreement can be waived or
      modified, except by an express agreement signed by all Parties
    hereto.

	 	 
	22. 	
      Additional Representations and Warranties. The Company
      expressly acknowledges that the Holder, including but not limited to its
      officer, directors, employees, agents, and affiliates, have not made any
      representation or warranty to it outside the terms of this Agreement. The
      Company further acknowledges that there have been no representations or
      warranties about future financing or subsequent transactions between the
      parties.

	 	 
	23. 	
      Notices. All notices and other communications given or
      made to the Company pursuant hereto shall be in writing (including
      facsimile or similar electronic transmissions) and shall be deemed
      effectively given: (i) upon personal delivery, (ii) when sent by
      electronic mail or facsimile, as deemed received by the close of business
      on the date sent, (iii) five (5) days after having been sent by registered
      or certified mail, return receipt requested, postage prepaid or (iv) one
      (1) day after deposit with a nationally recognized overnight courier,
      specifying next day delivery. All communications shall be sent either by
      email, or fax, or to the email address or facsimile number set forth on
      the signature page hereto. The physical address, email address, and phone
      number provided on the signature page hereto shall be considered valid
      pursuant to the above stipulations; should the Company’s contact
      information change from that listed on the signature page, it is incumbent
      on the Company to inform the Holder.

	 	 
	24. 	
      Severability. If one or more provisions of this Agreement
      are held to be unenforceable under applicable law, such provision shall be
      excluded from this Agreement and the rest of the Agreement shall be
      enforceable in accordance with its terms.

	 	 
	25. 	
      Usury. If it shall be found that any interest or other
      amount deemed interest due hereunder violates the applicable law governing
      usury, the applicable rate of interest due hereunder shall automatically
      be lowered to equal the maximum rate of interest permitted under
      applicable law. The Company covenants (to the extent that it may lawfully
      do so) that it will not seek to claim or take advantage of any law that
      would prohibit or forgive the Company from paying all or a portion of the
      principal, Interest or Default Interest on this Note.

	 	 
	26. 	
      Successors and Assigns. This Agreement shall be binding
      upon all successors and assigns hereto.

6 

 

— SIGNATURE PAGE
TO FOLLOW — 

 

 

7 

 

IN WITNESS WHEREOF, the Company has caused this Note to be
signed by its CEO, on and as of the Issuance Date.

COMPANY 

Signature: 

	By: 	 	 
	 	 	 
	 	 	 
	Title: 	 	 
	 	 	 
	  	 	 
	Address: 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Email: 	 	 
	 	 	 
	 	 	 
	Phone: 	 	 
	 	 	 
	 	 	 
	Facsimile: 	 	 

JSJ Investments Inc. 

Signature: 

Sameer Hirji, President 
JSJ Investments Inc.
6060 North
Central Expressway, Suite 500 
Dallas TX 75206 
888-503-2599 

8 

 

Exhibit 1 
Conversion Notice 

Reference is made to the 12% Convertible Note issued by Liberty
Star Uranium & Metals Corp. (the "Note"), dated December 29, 2015 in the
principal amount of $50,000 with 12% interest. This note currently holds a
principal balance of $50,000. The features of conversion stipulate a Conversion
Price equal to the lower of (i) a 45% discount to the second (2nd)
lowest trading price during the previous ten (10) trading days to the date of a
Conversion Notice; or (ii) a 45% discount to the second (2nd) lowest
trading price during the previous ten (10) trading days before the date that
this note was executed, pursuant to the provisions of Section 2(a)(ii) in the
Note. 

In accordance with and pursuant to the Note, the undersigned
hereby elects to convert $______of the principal/interest balance of the
Note, indicated below into shares of Common Stock (the "Common Stock"), of the
Company, by tendering the Note specified as of the date specified below.

Date of Conversion: __________

Please confirm the following information: Conversion Amount: $
____________________

Conversion Price: $ ____________________( ____ % discount from
$ ____________________) 

Number of Common Stock to be issued:
_____________________________________________________________________
Current
Issued/Outstanding:
_______________________________________________________________________________

If the Issuer is DWAC eligible, please issue the Common Stock
into which the Note is being converted in the name of the Holder of the Note and
transfer the shares electronically to: 

[BROKER INFORMATION] 

Holder Authorization: 

JSJ Investments Inc. 
6060 North Central Expressway, Suite
500 *Do not send certificates to this address 
Dallas, TX 75206

888-503-2599 

Sameer Hirji, President 

[DATE] 

[CONTINUED ON NEXT PAGE] 

9 

 

PLEASE BE ADVISED, pursuant to Section 2(e)(ii) of the Note,
“Upon receipt by the Company of a copy of the Conversion Notice, the Company
shall as soon as practicable, but in no event later than one (1) Business
Day after receipt of such Conversion Notice, SEND, VIA EMAIL, FACSIMILE OR
OVERNIGHT COURIER, A CONFIRMATION OF RECEIPT OF SUCH CONVERSION NOTICE TO SUCH
HOLDER INDICATING THAT THE COMPANY WILL PROCESS SUCH CONVERSION NOTICE in
accordance with the terms herein. Within two (2) Business Days after the date of
the Conversion Confirmation, the Company shall have issued and electronically
transferred the shares to the Broker indicated in the Conversion Notice; should
the Company be unable to transfer the shares electronically, they shall, within
two (2) Business Days after the date of the Conversion Confirmation, have
surrendered to FedEx for delivery the next day to the address as specified in
the Conversion Notice, a certificate, registered in the name of the Holder, for
the number of shares of Common Stock to which the Holder shall be entitled.”

Signature: 

___________________________ 

James Briscoe 
CEO

Liberty Star Uranium & Metals Corp. 

10EX-10.1

 Exhibit 10.1 

JARDEN CORPORATION 
 2013
STOCK INCENTIVE PLAN 
 RESTRICTED STOCK AGREEMENT 

FOR 
 Martin E. Franklin

 1. Award of Restricted Stock. Jarden Corporation (the “Company”) hereby grants, as of December 31, 2015 (the
“Date of Grant”), to Martin E. Franklin (the “Recipient”), 394,737 restricted shares of the Company’s common stock, par value $0.01 per share (collectively the “Restricted Stock”). The
Restricted Stock shall be subject to the terms, provisions and restrictions set forth in this Agreement and the Jarden Corporation 2013 Stock Incentive Plan (the “Plan”), which is incorporated herein for all purposes. As a condition
to entering into this Agreement, and as a condition to the issuance of any Shares (or any other securities of the Company), the Recipient agrees to be bound by all of the terms and conditions herein and in the Plan. Unless otherwise provided herein,
capitalized terms used herein that are defined in the Plan and not defined herein shall have the meanings attributable thereto in the Plan. 
 2.
Vesting of Restricted Stock. 
 (a) Performance Conditions. The shares of Restricted Stock shall become vested on
the last day (such date, the “Vesting Date”) of any five consecutive trading day period during which the average closing price of the Shares on the New York Stock Exchange (or such other securities exchange on which the Shares may
then be traded) equals or exceeds fifty-nine dollars and ninety-eight cents per share ($59.98) (the “Vesting Target”), provided that the Vesting Date must occur, if at all, prior to the fifth anniversary of the Date of Grant. 

In the event that a Change of Control of the Company occurs during the Recipient’s Continuous Service, unless the Company is the
surviving entity in the Change of Control of the Company and the Restricted Stock Award continues to be outstanding after the Change of Control of the Company on substantially the same terms and conditions as were applicable immediately prior to the
Change of Control of the Company, then the shares of Restricted Stock subject to this Agreement shall automatically and without any action on the part of the Recipient, be cancelled in exchange for a restricted stock award (or other like instrument)
(the “Replacement Award”) covering a number of shares of the ultimate parent company of the surviving entity in the Change of Control (the “Acquiring Company”), rounded up to the nearest whole share, with an aggregate Fair
Market Value as of December 31, 2015 equal to the aggregate Fair Market Value of the Restricted Stock subject to this Agreement as of December 31, 2015. In the event that a Replacement Award is issued pursuant to the immediately preceding
sentence, the shares of the Acquiring Company that are subject to the Replacement Award shall become vested on the last day (such date, the “Replacement Award Vesting Date”) of any five consecutive trading day period during which
the average closing price of the shares of the Acquiring Company on the primary securities exchange on which such shares may then be traded equals or exceeds a price per share that is 5% or more higher than the closing price of the shares of the
Acquiring Company on December 31, 2015, provided that the Replacement Award Vesting Date must occur, if at all, prior to the fifth anniversary of the Date of Grant. 

 Except as otherwise provided in Section 4 hereof, or in the Fifth Amended and Restated
Employment Agreement, dated as of July 23, 2012, as amended (the “Employment Agreement”), by and between the Company and the Recipient, there shall be no proportionate or partial vesting of shares of Restricted Stock in or
during the months, days or periods prior to the Vesting Date, and all vesting of shares of Restricted Stock shall occur only on the applicable Vesting Date. 

(b) Definitions. For purposes of this Agreement, the following terms shall have the meanings indicated: 

(i) “Change of Control of the Company” has the meaning assigned thereto in the Employment Agreement. 

(ii) “Non-Vested Shares” means any portion of the Restricted Stock subject to this Agreement that has not become vested
pursuant to this Section 2. 
 (iii) “Vested Shares” means any portion of the Restricted Stock subject to this
Agreement that is and has become vested pursuant to this Section 2. 
 3. Delivery of Restricted Stock. 

(a) Issuance of Stock Certificates and Legends. One or more stock certificates evidencing the Restricted Stock shall be issued in
the name of the Recipient but shall be held and retained by the Company until the date (the “Applicable Date”) on which the shares (or a portion thereof) subject to this Restricted Stock award become Vested Shares pursuant to
Section 2 hereof, subject to the provisions of Section 4 hereof. All such stock certificates shall bear the following legend, along with such other legends that the Board or the Committee shall deem necessary and appropriate or which are
otherwise required or indicated pursuant to any applicable stockholders agreement: 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT
TO SUBSTANTIAL VESTING AND OTHER RESTRICTIONS AS SET FORTH IN THE RESTRICTED STOCK AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH RESTRICTIONS ARE
BINDING ON TRANSFEREES OF THESE SHARES, AND INCLUDE VESTING CONDITIONS WHICH MAY RESULT IN THE COMPLETE FORFEITURE OF THE SHARES. 
 (b)
Stock Powers. The Recipient shall deposit with the Company stock powers or other instruments of transfer or assignment, duly endorsed in blank with signature(s) guaranteed, corresponding to each certificate representing shares of
Restricted Stock until such shares become Vested Shares. If the Recipient shall fail to provide the Company with any such stock 

  
 2 

 
power or other instrument of transfer or assignment, the Recipient hereby irrevocably appoints the Secretary of the Company as his attorney-in-fact, with full power of appointment and
substitution, to execute and deliver any such power or other instrument which may be necessary to effectuate the transfer of the Restricted Stock (or assignment of distributions thereon) on the books and records of the Company. 

(c) Delivery of Stock Certificates. On or after each Applicable Date, upon written request to the Company by the Recipient, the
Company shall promptly cause a new certificate or certificates to be issued for and with respect to all shares that become Vested Shares on that Applicable Date, which certificate(s) shall be delivered to the Recipient as soon as administratively
practicable after the date of receipt by the Company of the Recipient’s written request. The new certificate or certificates shall continue to bear those legends and endorsements that the Company shall deem necessary or appropriate (including
those relating to restrictions on transferability and/or obligations and restrictions under the Securities Laws). 
 (d) Issuance
Without Certificates. If the Company is authorized to issue Shares without certificates, then the Company may, in the discretion of the Committee, issue Shares pursuant to this Agreement without certificates, in which case any references in
this Agreement to certificates shall instead refer to whatever evidence may be issued to reflect the Recipient’s ownership of the Shares subject to the terms and conditions of this Agreement. 

4. Non-Forfeiture of Non-Vested Shares. If the Recipient’s Continuous Service with the Company and the Related Entities is terminated for
any reason other than a Termination for Cause (as defined in the Employment Agreement), any Shares of Restricted Stock that are not Vested Shares, and that do not become Vested Shares pursuant to Section 2 hereof or pursuant to the Employment
Agreement as a result of such termination, shall not be forfeited but shall continue to remain outstanding and subject to the terms of this Agreement as if Recipient’s Continuous Service with the Company had continued. Vested Shares shall not
be subject to forfeiture, cancellation or reimbursement. 
 5. Rights with Respect to Restricted Stock. 

(a) General. Except as otherwise provided in this Agreement, the Recipient shall have, with respect to all of the shares of
Restricted Stock, whether Vested Shares or Non-Vested Shares, all of the rights of a holder of shares of common stock of the Company, including without limitation (i) the right to vote such Restricted Stock, (ii) the right to receive
dividends, if any, as may be declared on the Restricted Stock from time to time, and (iii) the rights available to all holders of shares of common stock of the Company upon any merger, consolidation, reorganization, liquidation or dissolution,
stock split-up, stock dividend or recapitalization undertaken by the Company; provided, however, that all of such rights shall be subject to the terms, provisions, conditions and restrictions set forth in this
Agreement (including without limitation conditions under which all such rights shall be forfeited). Any Shares or other property issued to the Recipient as a dividend with respect to shares of Restricted Stock shall be subject to restrictions and a
risk of forfeiture to the same extent as the Restricted Stock with respect to which such Shares or other property have been distributed. In addition, notwithstanding any provision to the contrary herein, any cash dividends declared with respect to
shares of Restricted Stock subject to this Agreement shall be held in escrow by the Committee until such time as the shares of Restricted Stock that such cash dividends are attributed to shall become Vested Shares, and in the event that such shares
of Restricted Stock are subsequently forfeited, the cash dividends attributable to such portion shall be forfeited as well. 

  
 3 

 (b) Adjustments to Shares. If at any time while this Agreement is in effect (or
Shares granted hereunder shall be or remain unvested), there shall be any increase or decrease in the number of issued and outstanding Shares of the Company through the declaration of a stock dividend or through any recapitalization resulting in a
stock split-up, combination or exchange of such Shares, then and in that event, the Board or the Committee shall make any adjustments it deems fair and appropriate, in view of such change, in the number of shares of Restricted Stock then subject to
this Agreement. If any such adjustment shall result in a fractional Share, such fraction shall be disregarded. 
 (c) No Restrictions
on Certain Transactions. Notwithstanding any term or provision of this Agreement to the contrary, the existence of this Agreement, or of any outstanding Restricted Stock awarded hereunder, shall not affect in any manner the right, power or
authority of the Company to make, authorize or consummate: (i) any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business; (ii) any merger, consolidation or similar
transaction by or of the Company; (iii) any offer, issue or sale by the Company of any capital stock of the Company, including any equity or debt securities, or preferred or preference stock that would rank prior to or on parity with the
Restricted Stock and/or that would include, have or possess other rights, benefits and/or preferences superior to those that the Restricted Stock includes, has or possesses, or any warrants, options or rights with respect to any of the foregoing;
(iv) the dissolution or liquidation of the Company; (v) any sale, transfer or assignment of all or any part of the stock, assets or business of the Company; or (vi) any other corporate transaction, act or proceeding (whether of a
similar character or otherwise). 
 6. Transferability. Unless otherwise determined by the Committee, the shares of Restricted
Stock are not transferable unless and until they become Vested Shares in accordance with this Agreement, otherwise than by will or under the applicable laws of descent and distribution. The terms of this Agreement shall be binding upon the
executors, administrators, heirs, successors and assigns of the Recipient. Except as otherwise permitted pursuant to the first sentence of this Section, any attempt to effect a Transfer of any shares of Restricted Stock prior to the date on which
the shares become Vested Shares shall be void ab initio. For purposes of this Agreement, “Transfer” shall mean any sale, transfer, encumbrance, gift, donation, assignment, pledge, hypothecation, or other disposition, whether
similar or dissimilar to those previously enumerated, whether voluntary or involuntary, and including, but not limited to, any disposition by operation of law, by court order, by judicial process, or by foreclosure, levy or attachment. 

7. Tax Matters; Section 83(b) Election. 

(a) Section 83(b) Election. The Recipient may elect, within thirty (30) days of the Date of Grant, to include in gross
income for federal income tax purposes an amount equal to the Fair Market Value (as of the Date of Grant) of the Restricted Stock pursuant to Section 83(b) of the Code (the “Section 83(b) Election”). If the Recipient properly
makes the Section 83(b) Election, the Recipient shall provide a copy of the statement making the Section 83(b) Election 

  
 4 

 
to the Company on or before the date on which the statement making the Section 83(b) Election is filed with the Internal Revenue Service and the Recipient shall make arrangements
satisfactory to the Company to pay to the Company any federal, state or local income taxes required to be withheld with respect to the Restricted Stock. If the Recipient shall fail to make such tax payments as are required, the Company shall, to the
extent permitted by law, have the right to deduct from any payment of any kind (including without limitation, the withholding of any Shares that otherwise would be issued to the Recipient under this Agreement) otherwise due to the Recipient any
federal, state or local taxes of any kind required by law to be withheld with respect to the Restricted Stock. 
 (b) No
Section 83(b) Election. If the Recipient does not properly make the Section 83(b) Election, the Recipient shall, no later than the date or dates as of which the restrictions referred to in this Agreement hereof shall lapse, pay to
the Company, or make arrangements satisfactory to the Committee for payment of, any federal, state or local taxes of any kind required by law to be withheld with respect to the Restricted Stock (including without limitation the vesting thereof), and
the Company shall, to the extent permitted by law, have the right to deduct from any payment of any kind (including without limitation, the withholding of any Shares that otherwise would be distributed to the Recipient under this Agreement)
otherwise due to Recipient any federal, state, or local taxes of any kind required by law to be withheld with respect to the Restricted Stock. 

(c) Satisfaction of Withholding Requirements. The Recipient may satisfy the withholding requirements with respect to the
Restricted Stock pursuant to any one or combination of the following methods: 
 (i) payment in cash; or 

(ii) payment by surrendering unrestricted previously held Shares which have a value equal to the required withholding amount or the withholding
of Shares that otherwise would be deliverable to the Recipient pursuant to this Award. The Recipient may surrender Shares either by attestation or by delivery of a certificate or certificates for shares duly endorsed for transfer to the Company, and
if required with medallion level signature guarantee by a member firm of a national stock exchange, by a national or state bank (or guaranteed or notarized in such other manner as the Committee may require). 

(d) Recipient’s Responsibilities for Tax Consequences. Tax consequences on the Recipient (including without limitation
federal, state, local and foreign income tax consequences) with respect to the Restricted Stock (including without limitation the grant, vesting and/or forfeiture thereof) are the sole responsibility of the Recipient. The Recipient shall consult
with his or her own personal accountant(s) and/or tax advisor(s) regarding these matters, the making of a Section 83(b) Election, and the Recipient’s filing, withholding and payment (or tax liability) obligations. 

8. Amendment, Modification & Assignment. This Agreement may only be modified or amended in a writing signed by the parties hereto. No
promises, assurances, commitments, agreements, undertakings or representations, whether oral, written, electronic or otherwise, and whether express or implied, with respect to the subject matter hereof, have been made by either

  
 5 

 
party which are not set forth expressly in this Agreement. Unless otherwise consented to in writing by the Company, in its sole discretion, this Agreement (and Recipient’s rights hereunder)
may not be assigned, and the obligations of Recipient hereunder may not be delegated, in whole or in part. The Company may assign any of its rights under this Agreement. The rights and obligations created hereunder shall be binding on the Recipient
and his heirs and legal representatives and on the successors and assigns of the Company. 
 9. Complete Agreement. This Agreement (together
with those agreements and documents expressly referred to herein, for the purposes referred to herein) embody the complete and entire agreement and understanding between the parties with respect to the subject matter hereof, and supersede any and
all prior promises, assurances, commitments, agreements, undertakings or representations, whether oral, written, electronic or otherwise, and whether express or implied, which may relate to the subject matter hereof in any way. 

10. Miscellaneous. 
 (a) No
Right to (Continued) Employment or Service. This Agreement and the grant of Restricted Stock hereunder shall not confer, or be construed to confer, upon the Recipient any right to employment or service, or continued employment or service,
with the Company or any Related Entity. 
 (b) No Limit on Other Compensation Arrangements. Nothing contained in this
Agreement shall preclude the Company or any Related Entity from adopting or continuing in effect other or additional compensation plans, agreements or arrangements, and any such plans, agreements and arrangements may be either generally applicable
or applicable only in specific cases or to specific persons. 
 (c) Severability. If any term or provision of this Agreement
is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or under any applicable law, rule or regulation, then such provision shall be construed or deemed amended to conform to applicable law (or if such provision
cannot be so construed or deemed amended without materially altering the purpose or intent of this Agreement and the grant of Restricted Stock hereunder, such provision shall be stricken as to such jurisdiction and the remainder of this Agreement
and the award hereunder shall remain in full force and effect). 
 (d) No Trust or Fund Created. Neither this Agreement nor
the grant of Restricted Stock hereunder shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or any Related Entity and the Recipient or any other person. To the extent that the
Recipient or any other person acquires a right to receive payments from the Company or any Related Entity pursuant to this Agreement, such right shall be no greater than the right of any unsecured general creditor of the Company. 

(e) Law Governing. This Agreement shall be governed by and construed and enforced in accordance with the internal laws of the
State of Delaware (without reference to the conflict of laws rules or principles thereof). 

  
 6 

 (f) Interpretation. The Recipient accepts the Restricted Stock subject to all of
the terms, provisions and restrictions of this Agreement and the Plan. The undersigned Recipient hereby accepts as binding, conclusive and final all decisions or interpretations of the Board or the Committee upon any questions arising under this
Agreement or the Plan. 
 (g) Headings. Section, paragraph and other headings and captions are provided solely as a
convenience to facilitate reference. Such headings and captions shall not be deemed in any way material or relevant to the construction, meaning or interpretation of this Agreement or any term or provision hereof. 

(h) Notices. Any notice under this Agreement shall be in writing and shall be deemed to have been duly given when delivered
personally or when deposited in the United States mail, registered, postage prepaid, and addressed, in the case of the Company, to the Company’s Secretary at 2381 NW Executive Center Drive, Boca Raton, Florida 33431, or if the Company should
move its principal office, to such principal office, and, in the case of the Recipient, to the Recipient’s last permanent address as shown on the Company’s records, subject to the right of either party to designate some other address at
any time hereafter in a notice satisfying the requirements of this Section. 
 (i) Non-Waiver of Breach. The waiver by any
party hereto of the other party’s prompt and complete performance, or breach or violation, of any term or provision of this Agreement shall be effected solely in a writing signed by such party, and shall not operate nor be construed as a waiver
of any subsequent breach or violation, and the waiver by any party hereto to exercise any right or remedy which he or it may possess shall not operate nor be construed as the waiver of such right or remedy by such party, or as a bar to the exercise
of such right or remedy by such party, upon the occurrence of any subsequent breach or violation. 
 (j) Counterparts. This
Agreement may be executed in two or more separate counterparts, each of which shall be an original, and all of which together shall constitute one and the same agreement. 

  
 7 

 IN WITNESS WHEREOF, the parties hereto, intending to be legally bound, have executed this
Agreement as of the date first written above. 
  

			
	JARDEN CORPORATION:
		
	By:	 	/s/ John E. Capps

 
			
	Name:	 	John E. Capps
	Title:	 	 Executive Vice President –

Administration, General Counsel and Secretary

 Agreed and Accepted: 

RECIPIENT: 
  

			
	By:	 	/s/ Martin E. Franklin
		 	Martin E. Franklin

  
 8

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