Document:

EXHIBIT 10.38

 

AMENDMENT NO. 3 TO

ASSET PURCHASE AGREEMENT

 

This Amendment No. 3 (this “Amendment”) to that certain Asset Purchase Agreement (the “Purchase Agreement”), dated November 17, 2015, by and among PCM Sales, Inc., a California corporation and successor to Intelligent IT, Inc., a Delaware corporation (“U.S. Purchaser”), Acrodex Inc., an Alberta corporation (“Canadian Purchaser” and, together with U.S. Purchaser, “Purchaser”), PCM, Inc., a Delaware corporation and the ultimate parent of Purchaser (“PCM”), Systemax Inc., a Delaware corporation (“Systemax”), and TigerDirect, Inc., a Florida corporation, TigerDirect CA, Inc., a corporation organized under the laws of Ontario, Canada, Global Gov/Ed Solutions, Inc., a Delaware corporation, Infotel Distributors Inc., a Delaware corporation, Tek Serv Inc., a Delaware corporation, Global Computer Supplies, Inc., a New York corporation, SYX Distribution Inc., a Delaware corporation, SYX Services Inc., a Delaware corporation, SYX North American Tech Holdings, LLC, a Delaware limited liability company, Software Licensing Center, Inc., a Florida corporation, and Pocahontas Corp., a Delaware corporation (individually a “Seller” and collectively “Sellers”) is made and entered into as of February 14, 2016 by and among Purchaser, PCM, Systemax and Sellers.  Capitalized terms used but not defined in this Amendment shall have the meaning ascribed to such terms in the Purchase Agreement.

 

1.                 Amendment of Section 1.6(c).  The reference to the date “February 15, 2016” set forth in the first sentence of Section 1.6(c) of the Agreement shall be deleted and replaced with “February 29, 2016.”

 

2.                 Continued Validity of Purchase Agreement.  Except as specifically amended hereby, the Purchase Agreement shall remain in full force and effect as originally constituted.

 

3.                 Entire Agreement.  This Amendment embodies the entire understanding between the parties with respect to the subject matter hereof and can be modified only by a written instrument executed by all parties.

 

4.                 Incorporation of Miscellaneous Provisions.  This Amendment shall be subject to the miscellaneous provisions contained in Article 11 of the Purchase Agreement, which are hereby incorporated by reference herein, mutatis mutandis.

 

 [Remainder of page intentionally left blank]

IN WITNESS WHEREOF, the parties have caused this Amendment No. 3 to Asset Purchase Agreement to be executed effective as of the date first written above.

 

	
PCM SALES, INC.

	 	
PCM, INC.

	 
	 	 	 	 	 	 
	
By:

	
/s/ Stephen Moss

	 	
By:

	/s/ Frank Khulusi	 
	
Name:

	
Stephen Moss

	 	
Name:

	
Frank Khulusi

	 
	
Title:

	President	 	
Title:

	Chief Executive Officer	 
	 	 	 	 	 	 
	
ACRODEX INC.

	 	
SYSTEMAX INC.

	 
	 	 	 	 	 	 
	
By:

	
/s/ Yasmin Jivraj

	 	
By:

	
/s/ Larry Reinhold

	 
	
Name:

	Yasmin Jivraj	 	
Name:

	Larry Reinhold	 
	
Title:

	
President

	 	
Title:

	Chief Financial Officer	 
	 	 	 	 	 	 
	
TIGERDIRECT, INC.

	 	
TEK SERV INC.

	 
	 	 	 	 	 	 
	
By:

	/s/ Larry Reinhold	 	
By:

	
/s/ Larry Reinhold

	 
	
Name:

	Larry Reinhold	 	
Name:

	Larry Reinhold	 
	
Title:

	
President

	 	
Title:

	
President

	 
	 	 	 	 	 	 
	
TIGERDIRECT CA, INC.

	 	
GLOBAL COMPUTER SUPPLIES, INC.

	 
	 	 	 	 
	
By:

	
/s/ Larry Reinhold

	 	
By:

	/s/ Larry Reinhold	 
	
Name:

	Larry Reinhold	 	
Name:

	Larry Reinhold	 
	
Title:

	President	 	
Title:

	President	 
	 	 	 	 	 	 
	GLOBAL GOV/ED SOLUTIONS, INC.	 	SYX DISTRIBUTION INC.	 
	 	 	 	 
	
By:

	
/s/ Larry Reinhold

	 	
By:

	/s/ Larry Reinhold	 
	
Name:

	Larry Reinhold	 	
Name:

	
Larry Reinhold

	 
	
Title:

	President	 	
Title:

	President	 
	 	 	 	 	 	 
	
INFOTEL DISTRIBUTORS INC.

	 	SYX NORTH AMERICAN TECH HOLDINGS, LLC	 
	 	 	 	 
	
By:

	/s/ Larry Reinhold	 	
By:

	
/s/ Larry Reinhold

	 
	
Name:

	
Larry Reinhold

	 	
Name:

	Larry Reinhold	 
	
Title:

	President	 	
Title:

	President	 
	 	 	 	 	 	 
	
SYX SERVICES INC.

	 	SOFTWARE LICENSING CENTER, INC.	 
	 	 	 	 
	
By:

	
/s/ Larry Reinhold

	 	
By:

	/s/ Larry Reinhold	 
	
Name:

	Larry Reinhold	 	
Name:

	Larry Reinhold	 
	
Title:

	President	 	
Title:

	President	 
	 	 	 	 	 	 
	
POCAHONTAS CORP.

	 	 	 	 
	 	 	 	 	 	 
	
By:

	
/s/ Larry Reinhold

	 	 	 	 
	
Name:

	
Larry Reinhold

	 	 	 	 
	
Title:

	
PresidentMedicus Homecare Inc. - Exhibit 10.1 - Filed by newsfilecorp.com

LOAN AGREEMENT 

THIS LOAN AGREEMENT made as of the 3rd day of
March, 2016 (the “Effective Date”). 

BETWEEN: 

  
    
      MEDICUS HOMECARE INC., a company incorporated in the
        State of Nevada, with an address at Waiblingerstrasse 34, Stuttgart, Germany
        70372. 

      (the “Debtor”) 

    

  

AND: 

  
    
      LEON NOWEK, with an address at Ul. Wyspianskiego 10/1,
        30/035 Krakow, Poland. 

      (the “Lender”) 

    

  

WHEREAS the Debtor wishes to borrow from the Lender and
the Lender wishes to loan to the Debtor an aggregate of USD$30,000 with
no interest and due on demand (the “Loan”), which the parties have
agreed to make subject to the terms and conditions set forth herein.

NOW THEREFORE THIS AGREEMENT WITNESSES that in
consideration of the mutual covenants and agreements herein contained, the
receipt of which is hereby acknowledged by each of the parties hereto, the
parties hereto covenant and agree each with the other (the “Agreement”)
as follows: 

1.          
 Representations and Warranties of the Lender 

(a)           The
Lender represents and warrants to, and covenants and agrees with the Debtor
that: 

	 	(i) 	
      no federal or state agency has passed upon, or make any
      finding or determination as to the fairness of this Agreement or
      transaction, and that there have been no federal or state agency
      recommendations or endorsements of this Agreement or transaction made
      hereunder; and

	 	 	 
	 	(ii) 	
      the Lender has good and sufficient right and authority to
      enter into this Agreement and to carry out the transactions contemplated
      by this Agreement on the terms and conditions contained
  herein.

(b)           The
representations, warranties, covenants and agreements of and by the Lender
contained in, or delivered pursuant to, this Agreement shall be true at and as
of the Effective Date and shall remain in full force and effect throughout the
term of this Agreement. 

2.           
The Loan 

(a)          
Subject to the terms of this Agreement, the Debtor and the Lender hereby
acknowledge and agree that: 

	 	(i) 	
      the Loan was provided by the Lender as directed by and to
      the Debtor on March 3, 2016 (the “Advancement Date”) to the
      Debtor;

- 2 – 

	 	(ii) 	
      the principal amount of the Loan shall be due and payable
      in full on demand by the Lender (the “Due Date”);

	 	 	 
	 	(iii) 	
      the Loan shall bear no interest; and

	 	 	 
	 	(iv) 	
      the Debtor shall be entitled to prepay any sum up to the
      full amount of the Loan at any time without penalty or
  bonus.

3.           
Default 

(a)          
If one or more of the following events shall occur, namely: 

	 	(i) 	
      the Debtor fails to repay the Loan on the Due
  Date;

	 	 	 
	 	(ii) 	
      the Debtor makes an assignment for the benefit of its
      creditors or files a petition in bankruptcy or is adjudicated insolvent or
      bankrupt or petitions or applies to any tribunal for any receiver,
      receiver manager, trustee, liquidator or sequestrator of or for the Debtor
      or any of the Debtor’s assets or undertaking, or the Debtor makes a
      proposal or compromise with its creditors or if an application or a
      petition similar to any of the foregoing is made by a third party creditor
      and such application or petition remains unstayed or undismissed for a
      period of thirty (30) days;

	 	 	 
	 	(iii) 	
      an order of execution against any of the Debtor’s assets
      remains unsatisfied for a period of ten (10) business days;

	 	 	 
	 	(iv) 	
      the Debtor fails to observe and comply with any material
      term, condition or provision of this Agreement or any other agreement or
      document delivered hereunder, and such failure continues unremedied for a
      period of thirty (30) days;

	 	 	 
	 	(v) 	
      any representations, warranties, covenants or agreements
      contained in this Agreement or any document delivered to the Lender
      hereunder are found to be untrue or incorrect as at the date thereof;
      or

	 	 	 
	 	(vi) 	
      the holder (including the Lender) of any mortgage, charge
      or encumbrance on any of the Debtor’s assets and undertaking does anything
      to enforce or realize on such mortgage, charge or
  encumbrance;

then the Loan and all accrued Interest to the date of such
default shall, at the option of the Lender, immediately become due and payable
without presentment, protest or notice of any kind, all of which are waived by
the Debtor.

4.           
Independent Legal Advice 

(a)           The
Lender acknowledges that: 

	 	(i) 	
      legal counsel of the Debtor received instructions from
      the Debtor and does not represent the Lender;

	 	 	 
	 	(ii) 	
      the Debtor has been requested to obtain its own
      independent legal advice on this Agreement prior to signing this
      Agreement;

	 	 	 
	 	(iii) 	
      the Debtor have been given adequate time to obtain
      independent legal advice;

- 3 – 

	 	(iv) 	
      by signing this Agreement, the Debtor confirms that he
      fully understand this Agreement; and

	 	 	 
	 	(v) 	
      by signing this Agreement without first obtaining
      independent legal advice, the Debtor waives his right to obtain
      independent legal advice.

5.           
General 

(a)          
For the purposes of this Agreement, time is of the essence. 

(b)           The
parties hereto shall execute and deliver all such further documents and
instruments and do all such acts and things as may either before or after the
execution of this Agreement be reasonably required to carry out the full intent
and meaning of this Agreement. 

(c)          
This Agreement shall be construed in accordance with the laws of the State of
Nevada. 

(d)          
This Agreement may be assigned by the Lender subject to any assignee; this
Agreement may not be assigned by the Debtor. 

(e)           This
Agreement may be signed by the parties in as many counterparts as may be deemed
necessary, each of which so signed shall be deemed to be an original, and all
such counterparts together shall constitute one and the same instrument. 

(f)         
 All notices, requests, demands or other communications hereunder shall be
in writing and shall be “deemed delivered” to a party on the date it is hand
delivered to such party’s address first above written, or to such other address
as may be given in writing by the parties hereto. 

IN WITNESS WHEREOF the parties have hereunto set their
hands effective as of the date first above written. 

	MEDICUS HOMECARE INC. 	  	  
	  	  	  
	  	  	  
	  	  	  
	Per: Dr. Orhan Karahodza 	  	  
	Title: President & Director 	  	  
	  	  	  
	  	  	  
	Signed, sealed and delivered by 	) 	  
	LEON NOWEK in the presence of: 	) 	  
	  	) 	  
	  	) 	  
	Signature of Witness 	) 	  
	  	) 	 
    
	  	) 	LEON NOWEK 
	  	) 	  
	Name of Witness 	) 	  
	  	)

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