Document:

Exhibit

AUGMENTING LENDER SUPPLEMENT 
(City National Bank)
AUGMENTING LENDER SUPPLEMENT, dated as of December 17, 2015 (this “Supplement”), to the Credit Agreement, dated as of June 26, 2014 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among The New Home Company Inc., a Delaware corporation (“Borrower”), the Lenders party thereto and U.S. Bank National Association, d/b/a Housing Capital Company, as Administrative Agent (in such capacity, “Administrative Agent”).
W I T N E S S E T H
WHEREAS, the Credit Agreement provides in Section 2.25 thereof that any bank, financial institution or other entity may extend Commitments under the Credit Agreement subject to the approval of Borrower and Administrative Agent, by executing and delivering to Borrower and Administrative Agent a supplement to the Credit Agreement in substantially the form of this Supplement; and
WHEREAS, the undersigned Augmenting Lender was not an original party to the Credit Agreement but now desires to become a party thereto;
NOW, THEREFORE, each of the parties hereto hereby agrees as follows:
1.    The undersigned Augmenting Lender agrees to be bound by the provisions of the Credit Agreement and agrees that it shall, on the date of this Supplement, become a Lender for all purposes of the Credit Agreement to the same extent as if originally a party thereto, with a Commitment of $12,500,000.00.
2.    The undersigned Augmenting Lender (a) represents and warrants that it is legally authorized to enter into this Supplement and that none of the funds, monies, assets or other consideration being used to fund its Loans are “plan assets” as defined under ERISA and that its rights, benefits and interests in and under the Loan Documents will not be “plan assets” under ERISA; (b) confirms that it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 6.1 thereof, as applicable, and has reviewed such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Supplement; (c) agrees that it will, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement or any other instrument or document furnished pursuant hereto or thereto; (d) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under the Credit 

1

Agreement or any other instrument or document furnished pursuant hereto or thereto as are delegated to the Administrative Agent by the terms thereof, together with such powers as are incidental thereto; and (e) agrees that it will be bound by the provisions of the Credit Agreement and will perform in accordance with its terms all the obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender.
3.    The undersigned’s address for notices for the purposes of the Credit Agreement is as follows:
City National Bank
18111 Von Karman Avenue, Suite 110
Irvine, CA 92612
Attn: Geoffrey S. Ramirez

4.    Borrower hereby represents and warrants that no Default or Event of Default has occurred and is continuing on and as of the date hereof.
5.    Terms defined in the Credit Agreement shall have their defined meanings when used herein.
6.    This Supplement shall be governed by, and construed in accordance with, the laws of the State of California.
7.    This Supplement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same document.
[remainder of this page intentionally left blank]

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IN WITNESS WHEREOF, each of the undersigned has caused this Supplement to be executed and delivered by a duly authorized officer on the date first above written.
	
			
	 
	CITY NATIONAL BANK,

	 
	a national banking association

	 
	 
	 

	 
	By:
	/s/ Geoffrey Ramirez

	 
	Name:
	Geoffrey Ramirez

	 
	Title:
	Vice President

	 
	 
	 

Accepted and agreed to as of the date first written above:
	
			
	THE NEW HOME COMPANY INC.,
	 

	a Delaware corporation
	 

	 
	 
	 

	By:
	/s/ John M. Stephens
	 

	Name:
	John M. Stephens
	 

	Title:
	Chief Financial Officer
	 

	 
	 
	 

	By:
	/s/ Mark Kawanami
	 

	Name:
	Mark Kawanami
	 

	Title:
	Senior VP
	 

	 
	 
	 

Acknowledged as of the date first written above:
	
			
	U.S. BANK NATIONAL ASSOCIATION,
	 

	d/b/a Housing Capital Company,
	 

	as Administrative Agent
	 

	 
	 
	 

	By:
	/s/ Elke Heller
	 

	Name:
	Elke Heller
	 

	Title:
	Senior Vice President
	 

	 
	 
	 

S-1ex10-1.htm

Exhibit 10.1

 

AMENDMENT NO. 2 
to
EMPLOYMENT AGREEMENT

 

THIS AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT (this “Amendment”) is dated as of June 16, 2015, by and between Hancock Fabrics, Inc., a Delaware corporation (the “Company”), and Steven R. Morgan (the “Executive”).

 

WHEREAS, the Executive is currently employed by the Company as its President and Chief Executive Officer pursuant to that certain Employment Agreement, dated as of November 7, 2011 and subsequently amended as of July 21, 2014 (the “Employment Agreement”); and

 

WHEREAS, the Company and the Executive desire to amend the Agreement to extend the term of the Agreement as provided herein so that the end of the term coincides with the end of the Company’s 2018 fiscal year.

 

NOW, THEREFORE, the parties agree as follows:

 

1.     Section 2 of the Agreement is hereby amended and restated to read in its entirety as follows:

 

“2.     Term.    The term of Executive’s employment pursuant to this Agreement commenced on October 17, 2011 (the “Commencement Date”) and, unless terminated as set forth in Section 9, shall continue through January 26, 2019 (the “Initial Term”). Following the Initial Term, this Agreement shall be extended automatically for successive one (1) year periods (the Initial Term and any extensions being collectively referred to as the “Employment Term”). Notwithstanding the foregoing, Executive shall at all times be considered an “at will” employee (subject to the obligations set forth in this Agreement). Either party may terminate this Agreement as of the end of the then-current period by giving written notice at least sixty (60) days prior to the end of that period. Notwithstanding any termination of this Agreement or Executive’s employment, Sections 9 and 10 shall remain in effect until all obligations and benefits that accrued prior to termination are satisfied.” 

 

2.     Section 4(e) of the Agreement is hereby deleted.

 

3.     Except as expressly modified herein, the Agreement shall remain in full force and effect in accordance with its original terms.

 

4.     Capitalized terms that are not defined herein shall have the meanings ascribed to them in the Agreement.

 

5.     This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

[Remainder of page intentionally left blank] 

 

 

 

 

  

IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed and delivered on the day and year first above written.

 

 

	
 
	
HANCOCK FABRICS, INC.
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Sam P. Cortez 
	
 

	
 
	
 
	
Sam P. Cortez
	
 

	
 
	
 
	
Chair, Management Review and Compensation Committee
	
 

	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	EXECUTIVE	 
	 	 	 	 
	 	 	 	 
	 	/s/ Steven R. Morgan 	 
	 	Steven R. Morgan	 

 

 

 

2EXHIBIT 10.30

 

EXTENSION OF TIME FOR

CONVERTIBLE SECURED PROMISSORY NOTE DATED JULY 16, 2015

 

Whereas, this Extension of Time for Convertible Secured Promissory Note dated July 16, 2015 (this “Extension”) between Hydrocarb Energy Corporation, (the “Company”) that executed a Convertible Secured Promissory Note (the “Promissory Note” as a copy attached hereto as “Exhibit A”) in favor of Duma Holdings, LLC, a Texas limited liability company (the “Holder”) that was effective as of July 16, 2015 and the fact that such Promissory Note carries the following basic terms among others:

	
Face Value:

	
$350,000

	
Annual Interest Rate:

	
15%

	
Accrued interest through 11/30/2015:

	
$19,705

	
Original Maturity Date:

	
11/30/2015    and,

 

Whereas, the Company and Holder collectively herein will be referred to individually as a “Party” and collectively as the “Parties”; and

Whereas it is the mutual desire of the Parties to extend the maturity date of The Promissory Note for up to a total of up to six months from the original maturity date, or to May 31, 2016; and

So Now Therefore the parties agree as evidenced by the signatures hereunder that:

		1.	FIRST EXTENSION. All the terms other than the Maturity Date of November 30, 2015 which shall now be extended to February 29, 2016, shall remain the same.   The consideration for the first extension to be paid upon signature of this Extension shall be:

		a.	Cash payment of Accrued Interest of $19,705 through November 30, 2015.

		b.	Cash payment of a $3,500 extension fee.

		c.	Upon the signatures hereunder and payments made as specified above, the effective date of the FIRST EXTENSION shall be December 1, 2015.

		2.	SECOND EXTENSION. An option of another extension extending the maturity date from February 29, 2016 to May 31, 2016 will be available at the option of the Company by:

		a.	Notice to extend 10 days before maturity of FIRST EXTENSION.

		b.	Cash payment by the FIRST EXTENSION maturity date of the following:

		i.	Accrued Interest (using 15% APR) for the period of December 1, 2015 through February 29, 2016.

		ii.	Extension fee of $3,500.

All terms shall remain the same as the Promissory Note including but not limited to:

		1)	The same interest rate (15%) will be maintained,

		2)	The same stock convertible right and terms to be retained

		3)	The same real estate collateral\lien, and personal guarantees to be retained

Agreed:

	
HYDROCARB ENERGY CORPORATION

	 	
DUMA HOLDINGS, LLC

	 
	  	 	  	 
	/s/ Kent P. Watts	 	/s/ Brent Sagissor	 

	
Name: Kent P. Watts

	 	
Name:

	Brent Sagissor	 
	
Title:   Chief Executive Officer

	 	
Title: Manager

	 
	 	 	 	 
	
Agreed:

	 	 	 
	
/s/ Michael E. Watts

	 	 	 
	
Michael E. Watts

	 	 	 
	 	 	 	 
	
/s/ Kent P. Watts

	 	 	 
	
Kent P. Watts

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