Document:

f8k032509ex10i_equityven.htm

     

    
      Exhibit 10.1

       

      STOCK
PURCHASE AGREEMENT AND SHARE EXCHANGE

      

      

      

      by
and among

      

      

      EQUITY
VENTURES GROUP, INC.

      

      a Florida
Corporation

      

      and

      

      GHG
TRADING PLATFORMS, INC.

      

      a Nevada
Corporation

      

      and

      

      

      The
Shareholders of GHG Trading Platforms, Inc.

      

      

      

      

      

      

      

      

      effective
as of March 25, 2009

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      STOCK
PURCHASE AGREEMENT AND SHARE EXCHANGE

      

      THIS STOCK PURCHASE AGREEMENT AND
SHARE EXCHANGE, made and entered into this 25th day of
March, 2009 (the “Agreement”), by and
among Equity Ventures Group, Inc. (“EVG”), a Florida
corporation with its principle places of business at 1314 E. Las Olas Blvd., Ste
1030, Fort Lauderdale, FL 33301; GHG Trading Platforms, Inc., a Nevada
corporation (“GHG”) with its
principal executive offices at 930 Sahara Ave., #679, Las Vegas, NV 89917, and
the shareholders of GHG named on the Annex 1 of this Agreement (individually, a
“GHG
Stockholder”, and collectively, the “GHG
Stockholders”).

       

      Premises

      

      WHEREAS, EVG is a reporting company
under Section 12(g) of the Securities and Exchange Act of 1934, organized under
the laws of the State of Florida with no significant operations, while GHG is a
private, non-reporting company incorporated under the laws of
Nevada;

      

      WHEREAS,
EVG desires to acquire from the GHG Shareholders, and the GHG Shareholders
desire to sell to EVG, 100% of the outstanding shares of GHG in exchange for the
issuance by EVG of an aggregate number of shares equal to 90% of the
post-transaction shares of EVG common stock (the “Common Stock”) to the
GHG Shareholders on the terms and conditions set forth herein (the “Share
Exchange”).

       

      WHEREAS,
after giving effect to the Share Exchange, GHG shall become a wholly owned
subsidiary of EVG;

      

      WHEREAS, the boards of directors of GHG
and EVG have determined, subject to the terms and conditions set forth in this
Agreement, that the transaction contemplated hereby is desirable and in the best
interests of their stockholders, respectively.  This Agreement is
being entered into for the purpose of setting forth the terms and conditions of
the proposed acquisition.

       

      Agreement

      

      NOW, THEREFORE, on the stated premises
and for and in consideration of the mutual covenants and agreements hereinafter
set forth and the mutual benefits to the parties to be derived here from, it is
hereby agreed as follows:

      

      ARTICLE
I

      REPRESENTATIONS,
COVENANTS AND WARRANTIES OF

      GHG
TRADING PLATFORMS, INC.

      

      As an inducement to and to obtain the
reliance of EVG, GHG represents and warrants as of the date hereof and reaffirms
on the Closing Date as follows:

       

       

      
        
           

        

        
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      Section 1.1    Organization.   GHG
is a corporation duly organized, validly existing, and in good standing under
the State of Nevada and has the corporate power and is duly authorized,
qualified, franchised and licensed under all applicable laws, regulations,
ordinances and orders of public authorities to own all of its properties and
assets and to carry on its business in all material respects as it is now being
conducted, including qualification to do business as a foreign corporation in
the jurisdiction in which the character and location of the assets owned by it
or the nature of the business transacted by it requires
qualification.  Included in the Schedules attached hereto (hereinafter
defined) are complete and correct copies of the articles of incorporation,
bylaws and amendments thereto as in effect on the date hereof.  The
execution and delivery of this Agreement does not and the consummation of the
transactions contemplated by this Agreement in accordance with the terms hereof
will not violate any provision of GHG's articles of incorporation or
bylaws.  GHG has full power, authority and legal right and has taken
all action required by law, its articles of incorporation, its bylaws or
otherwise to authorize the execution and delivery of this
Agreement.

      

      Section 1.2     Capitalization.   The
authorized capitalization of GHG consists of 50,000,000 Common Shares, $.001 par
value per share and 0 Preferred Shares.  As of the date hereof, GHG
shall have 8,099,750 shares of common stock outstanding.

      

      All issued and outstanding shares are
legally issued, fully paid and nonassessable and are not issued in violation of
the preemptive or other rights of any person.  GHG has no securities,
warrants or options authorized or issued.

      

      Section 1.3     Subsidiaries.   GHG
has no subsidiaries.

      

      Section
1.4             Financial
Statements.

      

      
        	
                (a)  

              	
                On
      the Closing Date, GHG shall include in the Schedules the audited balance
      sheets of GHG as of December 31, 2008 and 2007 and the related audited
      statements of operations, stockholders’ equity and cash flows for the
      fiscal years ended December 31, 2008 and 2007 together with the notes to
      such statements and the opinion of an independent certified public
      accountant.

              

      

      

      
        	
                (b)  

              	
                All
      such financial statements shall have been prepared in accordance with
      generally accepted accounting principles (“GAAP”) consistently applied
      throughout the periods involved. The GHG balance sheets are true and
      accurate and present fairly as of their respective dates the financial
      condition of GHG.  As of the date of such balance sheets, except
      as and to the extent reflected or reserved against therein, GHG had no
      liabilities or obligations (absolute or contingent) which should be
      reflected in the balance sheets or the notes thereto prepared in
      accordance with GAAP, and all assets reflected therein are properly
      reported and present fairly the value of the assets of GHG, in accordance
      with GAAP. The statements of operations, stockholders’ equity and cash
      flows reflect fairly the information required to be set forth therein by
      generally accepted accounting
principles.

              

      

       

       

      
        
           

        

        
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      Section
1.5              Tax
Matters: Books and Records.

      

      
        	
                 
      

              	
                (a)  The
      books and records, financial and others, of GHG are in all material
      respects complete and correct and have been maintained in accordance with
      good business accounting practices;
and

              

      

      

      
        	
                 
      

              	
                (b)  GHG
      has no liabilities with respect to the payment of any country, federal,
      state, county, or local taxes (including any deficiencies, interest or
      penalties).

              

      

      

      
        	
                 
      

              	
                (c)   GHG
      shall remain responsible for all debts incurred by GHG prior to the date
      of closing.

              

      

      

      Section
1.6              Litigation and
Proceedings.   There are no actions, suits, proceedings or
investigations pending or threatened by or against or affecting GHG or its
properties, at law or in equity, before any court or other governmental agency
or instrumentality, domestic or foreign or before any arbitrator of any kind
that would have a material adverse affect on the business, operations, financial
condition or income of GHG.  GHG is not in default with respect to any
judgment, order, writ, injunction, decree, award, rule or regulation of any
court, arbitrator or governmental agency or instrumentality or of any
circumstances which, after reasonable investigation, would result in the
discovery of such a default.

      

      Section
1.7              Material Contract
Defaults.     GHG is not in default in any material
respect under the terms of any outstanding contract, agreement, lease or other
commitment which is material to the business, operations, properties, assets or
condition of GHG, and there is no event of default in any material respect under
any such contract, agreement, lease or other commitment in respect of which GHG
has not taken adequate steps to prevent such a default from
occurring.

      

                  Section
1.8         Information.    The
information concerning GHG as set forth in this Agreement and in the attached
Schedules is complete and accurate in all material respects and does not contain
any untrue statement of a material fact or omit to state a material fact
required to make the statements made in light of the circumstances under which
they were made, not misleading.

      

                  Section
1.9          Title and Related
Matters.  GHG has good and marketable title to and is the sole
and exclusive owner of all of its properties, inventory, interest in properties
and assets, real and personal (collectively, the “Assets”) free and clear of all
liens, pledges, charges or encumbrances.  GHG owns free and clear of
any liens, claims, encumbrances, royalty interests or other restrictions or
limitations of any nature whatsoever and all procedures, techniques, marketing
plans, business plans, methods of management or other information utilized in
connection with GHG business.   No third party has any right to,
and GHG has not received any notice of infringement of or conflict with asserted
rights of other with respect to any product, technology, data, trade secrets,
know-how, proprietary techniques, trademarks, service marks, trade names or
copyrights which, singly on in the aggregate, if the subject of an unfavorable
decision ruling or finding, would have a materially adverse affect on the
business, operations, financial conditions or income of GHG or any material
portion of its properties, assets or rights.

      

                  Section
1.10       Compliance With Laws and
Regulations.    To the best of GHG’s knowledge and
belief, GHG has complied with all applicable statutes and regulations of any
federal, state or other governmental entity or agency thereof, except to the
extent that noncompliance would not materially and adversely affect the
business, operations, properties, assets or condition of GHG or would not result
in GHG incurring material liability.

       

       

      
        
           

        

        
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                  Section
1.11               Insurance.      All
of the insurable properties of GHG are insured for GHG‘s benefit under valid and
enforceable policy or policies containing substantially equivalent coverage and
will be outstanding and in full force at the Closing Date.

      

                  Section
1.12               Approval of
Agreement.    On the Closing Date, the board of
directors and majority shareholders of GHG shall have authorized the execution
and delivery of the Agreement by and have approved the transactions contemplated
hereby.

      

                  Section
1.13               Material Transactions or
Affiliations.    Except as set forth in Exhibit B, as
attached hereto. There are no material contracts or agreements of arrangement
between GHG and any person, who was at the time of such contract, agreement or
arrangement an officer, director or person owning of record, or known to
beneficially own ten percent (10%) or more of the issued and outstanding Common
Shares of GHG and which is to be performed in whole or in part after the date
hereof.  GHG has no commitment, whether written or oral, to lend any
funds to, borrow any money from or enter into material transactions with any
such affiliated person.

      

      Section
1.14           No Conflict With Other
Instruments.   The execution of this Agreement and the
consummation of the transactions contemplated by this Agreement will not result
in the breach of any term or provision of, or constitute an event of default
under, any material indenture, mortgage, deed of trust or other material
contract, agreement or instrument to which GHG is a party or to which any of its
properties or operations are subject.

      

      Section
1.15           Governmental
Authorizations.  GHG has all licenses, franchises, permits or
other governmental authorizations legally required to enable it to conduct its
business in all material respects as conducted on the date
hereof.  Except for compliance with federal and state securities and
corporation laws, as hereinafter provided, no authorization, approval, consent
or order of, or registration, declaration or filing with, any court or other
governmental body is required in connection with the execution and delivery by
GHG of this Agreement and the consummation of the transactions contemplated
hereby.

      

      ARTICLE
II

      REPRESENTATIONS,
COVENANTS AND WARRANTIES OF

      EQUITY
VENTURES GROUP, INC.

      

      As an inducement to, and to obtain the
reliance of GHG, EVG represents and warrants as of the date hereof and reaffirms
on the Closing Date as follows:

      

      Section
2.1              Organization.  EVG
is a corporation duly organized, validly existing and in good standing under the
laws of Florida and has the corporate power and is duly authorized, qualified,
franchised and licensed under all applicable laws, regulations, ordinances and
orders of public authorities to own all of its properties and assets and to
carry on its business in all material respects as it is now being conducted,
including qualification to do business as a foreign entity in the country or
states in which the character and location of the assets owned by it or the
nature of the business transacted by it requires
qualification.  Included in the Attached Schedules (as hereinafter
defined) are complete and correct copies of the articles of incorporation,
bylaws and amendments thereto as in effect on the date hereof.  The
execution and delivery of this Agreement does not and the consummation of the
transactions contemplated by this Agreement in accordance with the terms hereof
will not, violate any provision of EVG's certificate of incorporation or
bylaws.  EVG has full power, authority and legal right and has taken
all action required by law, its articles of incorporation, bylaws or otherwise
to authorize the execution and delivery of this Agreement.

       

       

      
        
           

        

        
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      Section
2.2              Capitalization.   The
authorized Capitalization of EVG consists of 100,000,000 Common Shares, $0.001
par value per share and 10,000,000 Preferred Shares, par value
$0.001.  As of the date hereof there are 974,000 common shares
outstanding.  As of the Closing Date there will be 809,000 shares
outstanding.

      

      All issued and outstanding common
shares have been legally issued, fully paid, are nonassessable and not issued in
violation of the preemptive rights of any other person.  EVG has no
other securities, warrants or options authorized or issued.

      

      Section
2.3              Subsidiaries.   EVG
has no subsidiaries.

      

      Section
2.4              Financial
Statements.

       

      EVG has
delivered to GHG and the GHG Shareholders its audited financial statements for
the year ended December 31, 2008 (the “EVG Financial
Statements”).  The EVG Financial Statements have been prepared in
accordance with generally accepted accounting principles applied on a consistent
basis throughout the periods indicated.  The EVG Financial Statements
fairly present in all material respects the financial condition and operating
results of EVG, as of the dates, and for the periods, indicated
therein.  EVG does not have any material liabilities or obligations,
contingent or otherwise, other than (a) liabilities incurred in the
ordinary course of business subsequent to December 31, 2008, and
(b) obligations under contracts and commitments incurred in the ordinary
course of business and not required under generally accepted accounting
principles to be reflected in the EVG Financial Statements, which, in both
cases, individually and in the aggregate, would not be reasonably expected to
result in a Material Adverse Effect.

      

      Section
2.5             
Tax Matters; Books & Records

      

      
        	
                 
      

              	
                (a)  The
      books and records, financial and others, of EVG are in all material
      respects complete and correct and have been maintained in accordance with
      good business accounting practices;
and

              

      

      

      
        	
                 
      

              	
                (b)  EVG
      has no liabilities with respect to the payment of any country, federal,
      state, county, local or other taxes (including any deficiencies, interest
      or penalties).

              

      

      

      
        	
                 
      

              	
                (c)  EVG
      shall remain responsible for all debts incurred prior to the
      closing.

              

      

      

      Section
2.6              Information.   The
information concerning EVG as set forth in this Agreement and in the attached
Schedules is complete and accurate in all material respects and does not contain
any untrue statement of a material fact or omit to state a material fact
required to make the statements made, in light of the circumstances under which
they were made, not misleading.

       

       

      
        
           

        

        
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      Section
2.7             Title and Related
Matters.   EVG has good and marketable title to and is the
sole and exclusive owner of all of its properties, inventory, interests in
properties and assets, real and personal (collectively, the "Assets") free and
clear of all liens, pledges, charges or encumbrances.  Except as set
forth in the Schedules attached hereto, EVG owns free and clear of any liens,
claims, encumbrances, royalty interests or other restrictions or limitations of
any nature whatsoever and all procedures, techniques, marketing plans, business
plans, methods of management or other information utilized in connection with
EVG's business.  Except as set forth in the attached Schedules, no
third party has any right to, and EVG has not received any notice of
infringement of or conflict with asserted rights of others with respect to any
product, technology, data, trade secrets, know-how, proprietary techniques,
trademarks, service marks, trade names or copyrights which, singly or in the
aggregate, if the subject of an unfavorable decision, ruling or finding, would
have a materially adverse affect on the business, operations, financial
conditions or income of EVG or any material portion of its properties, assets or
rights.

      

      Section
2.8             Litigation and
Proceedings.   There are no actions, suits or proceedings
pending or threatened by or against or affecting EVG, at law or in equity,
before any court or other governmental agency or instrumentality, domestic or
foreign or before any arbitrator of any kind that would have a material adverse
effect on the business, operations, financial condition, income or business
prospects of EVG.  EVG does not have any knowledge of any default on
its part with respect to any judgment, order, writ, injunction, decree, award,
rule or regulation of any court, arbitrator or governmental agency or
instrumentality.

      

      Section
2.9             
Contracts. 
 On the Closing Date:

      

      (a)                There
are no material contracts, agreements, franchises, license agreements, or other
commitments to which EVG is a party or by which it or any of its properties are
bound;

      

      (b)                EVG
is not a party to any contract, agreement, commitment or instrument or subject
to any charter or other corporate restriction or any judgment, order, writ,
injunction, decree or award which materially and adversely affects, or in the
future may (as far as EVG can now foresee) materially and adversely affect, the
business, operations, properties, assets or conditions of EVG; and

      

      (c)        EVG
is not a party to any material oral or written:  (i) contract for the
employment of any officer or employee;  (ii) profit sharing, bonus,
deferred compensation, stock option, severance pay, pension, benefit or
retirement plan, agreement or arrangement covered by Title IV of the Employee
Retirement Income Security Act, as amended; (iii) agreement, contract or
indenture relating to the borrowing of money;  (iv) guaranty of any
obligation for the borrowing of money or otherwise, excluding endorsements made
for collection and other guaranties of obligations, which, in the aggregate
exceeds $1,000;  (v)  consulting or other contract with an
unexpired term of more than one year or providing for payments in excess of
$10,000 in the aggregate;  (vi)  collective bargaining
agreement; (vii) contract, agreement, or other commitment involving payments by
it for more than $10,000 in the aggregate.

       

       

      
        
           

        

        
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      Section
2.10           No Conflict With Other
Instruments. The execution of this Agreement and the consummation of the
transactions contemplated by this Agreement will not result in the breach of any
term or provision of, or constitute an event of default under, any material
indenture, mortgage, deed of trust or other material contract, agreement or
instrument to which EVG is a party or to which any of its properties or
operations are subject.

      

      Section
2.11           Material Contract
Defaults.   To the best of EVG's knowledge and belief, it
is not in default in any material respect under the terms of any outstanding
contract, agreement, lease or other commitment which is material to the
business, operations, properties, assets or condition of EVG, and there is no
event of default in any material respect under any such contract, agreement,
lease or other commitment in respect of which EVG has not taken adequate steps
to prevent such a default from occurring.

      

      Section
2.12           Governmental
Authorizations.   To the best of EVG’s knowledge, EVG has
all licenses, franchises, permits and other governmental authorizations that are
legally required to enable it to conduct its business operations in all material
respects as conducted on the date hereof.  Except for compliance with
federal and state securities or corporation laws, no authorization, approval,
consent or order of, or registration, declaration or filing with, any court or
other governmental body is required in connection with the execution and
delivery by EVG of the transactions contemplated hereby.

      

      Section
2.13           Compliance With Laws and
Regulations.  To the best of EVG's knowledge and belief, EVG
has complied with all applicable statutes and regulations of any federal, state
or other governmental entity or agency thereof, except to the extent that
noncompliance would not materially and adversely affect the business,
operations, properties, assets or condition of EVG or would not result in EVG's
incurring any material liability.

      

      Section
2.14           Insurance.  All of
the insurable properties of EVG are insured for EVG‘s benefit under valid and
enforceable policy or policies containing substantially equivalent coverage and
will be outstanding and in full force at the Closing Date.

      

      Section
2.15           Approval of
Agreement.   On the Closing Date, the directors of EVG
shall have authorized the execution and delivery of the Agreement and have
approved the transactions contemplated hereby.

      

      Section
2.16           Material Transactions or
Affiliations.    As of the Closing Date, there will
exist no material contract, agreement or arrangement between EVG and any person
who was at the time of such contract, agreement or arrangement an officer,
director or person owning of record, or known by EVG to own beneficially, ten
percent (10%) or more of the issued and outstanding Common Shares of EVG and
which is to be performed in whole or in part after the date hereof except with
regard to an agreement with the EVG shareholders providing for the distribution
of cash to provide for payment of federal and state taxes on Subchapter S
income.  EVG has no commitment, whether written or oral, to lend any
funds to, borrow any money from or enter into any other material transactions
with, any such affiliated person.

       

       

      
        
           

        

        
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      Section
2.17           SEC
Filings;
Financial Statements. 

      

      
        	
                (a)  

              	
                EVG
      has made available to GHG a correct and complete copy, or there has been
      available on EDGAR, copies of each report, registration statement and
      definitive proxy statement filed by EVG with the SEC for the 36 months
      prior to the date of this Agreement (the “EVG SEC Reports”), which, to
      EVG’s knowledge, are all the forms, reports and documents filed by EVG
      with the SEC for the 36 months prior to the date of this Agreement. As of
      their respective dates, to EVG’s knowledge, the EVG SEC Reports: (i) were
      prepared in accordance and complied in all material respects with the
      requirements of the Securities Act or the Exchange Act, as the case may
      be, and the rules and regulations of the SEC thereunder applicable to such
      EVG SEC Reports, and (ii) did not at the time they were filed (and if
      amended or superseded by a filing prior to the date of this Agreement then
      on the date of such filing and as so amended or superseded) contain any
      untrue statement of a material fact or omit to state a material fact
      required to be stated therein or necessary in order to make the statements
      therein, in light of the circumstances under which they were made, not
      misleading.

              

      

      

      
        	
                (b)  

              	
                To
      EVG’s knowledge, each set of financial statements (including, in each
      case, any related notes thereto) contained in the EVG SEC Reports comply
      as to form in all material respects with the published rules and
      regulations of the SEC with respect thereto, were prepared in accordance
      with U.S. GAAP applied on a consistent basis throughout the periods
      involved and each fairly presents in all material respects the financial
      position of EVG at the respective dates thereof and the results of its
      operations and cash flows for the periods indicated, except that the
      unaudited interim financial statements were or are subject to normal
      adjustments which were not or are not expected to have a Material Adverse
      Effect on EVG.

              

      

       

      Section
2.18           Exchange
Act Compliance.

        EVG
is in compliance with, and current in, all of the reporting, filing and other
requirements under the Exchange Act, the shares of EVG Common Stock have been
registered under Section 12(g) of the Exchange Act, and EVG is in compliance
with all of the requirements under, and imposed by, Section 12(g) of the
Exchange Act, except where a failure to so comply is not reasonably likely to
have a Material Adverse Effect on EVG.

      

      

      ARTICLE
III

      EXCHANGE PROCEDURE AND OTHER
CONSIDERATION

      

      Section
3.1             Share Exchange/Delivery of EVG
Securities.    On the Closing Date, the GHG
Shareholders shall deliver to EVG (i) certificates or other documents evidencing
all of the issued and outstanding GHG Common Shares, duly endorsed in blank or
with executed power attached thereto in transferable form.  On the
Closing Date, all previously issued and outstanding Common Shares of GHG shall
be transferred to EVG, so that GHG shall become a wholly owned subsidiary of
EVG.

       

       

       

      
        
           

        

        
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      Section
3.2             Issuance of EVG Common
Shares.  In exchange for EVG acquiring all of the GHG Common
Shares tendered pursuant to Section 3.1, EVG shall retain 809,000 shares and
issue to the GHG shareholders an aggregate number of shares equal to the number
of total shares issued and outstanding in the company at the time of closing.
Said shares will be listed on Schedule A to be attached at
closing.  Such shares are restricted in accordance with Rule 144 of
the 1933 Securities Act.

      

      Section
3.3             Additional
Consideration.     GHG shall make a
non-refundable payment of $5,000 by wire transfer to EVG pursuant to the wire
instructions attached hereto as Schedule B.  In addition, GHG shall
make an additional non-refundable deposit payment of $15,000 by wire transfer to
EVG within three (3) days of available funds, such time as it has raised at
least such amount in it private placement offering.  In addition, GHG
agrees to pay all costs associated with the filing of EVG’s March 31, 2009 10q
with the SEC.  Such fees shall include accounting, legal, edgar and
other costs associated with the filing.

      

      Section
3.4             Events Prior to
Closing.  Upon execution hereof or as soon thereafter as
practical, management of GHG and EVG shall execute, acknowledge and deliver (or
shall cause to be executed, acknowledged and delivered) any and all
certificates, opinions, financial statements, schedules, agreements, resolutions
rulings or other instruments required by this Agreement to be so delivered,
together with such other items as may be reasonably requested by the parties
hereto and their respective legal counsel in order to effectuate or evidence the
transactions contemplated hereby, subject only to the conditions to Closing
referenced herein below.

      

      Section
3.5             Closing.   The
closing ("Closing") of the transactions contemplated by this Agreement shall be
immediately upon completion of the updated audited and reviewed financial
statements of GHG. Such financial statements must be completed within ten (10)
weeks of the execution of this Agreement.

      

      Section
3.6             Termination.

      

      
        	
                 
      

              	
                (a)
      This Agreement may be terminated by the board of directors or majority
      interest of Shareholders of either GHG or EVG, respectively, at any time
      prior to the Closing Date if:

              

      

      

      
        	
                 
      

              	
                (i)  there
      shall be any action or proceeding before any court or any governmental
      body which shall seek to restrain, prohibit or invalidate the transactions
      contemplated by this Agreement and which, in the judgment of such board of
      directors, made in good faith and based on the advice of its legal
      counsel, makes it inadvisable to proceed with the exchange contemplated by
      this Agreement; or

              

      

      

      
        	
                 
      

              	
                (ii)
      any of the transactions contemplated hereby are disapproved by any
      regulatory authority whose approval is required to consummate such
      transactions.

              

      

      

      
        	
                 
      

              	
                (iii)
      failure of GHG to deliver the updated financial statements in a timely
      manner in accordance with Section 3.5 and 5.4 of this
      Agreement.

              

      

       

       

       

      
        
           

        

        
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                (iv)  failure
      of GHg to deliver the additional $15,000 non-refundable deposit in a
      timely manner as set forth in Section 3.3 of this
    Agreement.

              

      

      

      In the event of termination pursuant to
this paragraph (a) of this Section 3.6, no obligation, right, or liability shall
arise hereunder and each party shall bear all of the expenses incurred by it in
connection with the negotiation, drafting and execution of this Agreement and
the transactions herein contemplated.

      

      
        	
                 
      

              	
                (b)
      This Agreement may be terminated at any time prior to the Closing Date by
      action of the board of directors of GHG if EVG shall fail to comply in any
      material respect with any of its covenants or agreements contained in this
      Agreement or if any of the representations or warranties of EVG contained
      herein shall be inaccurate in any material respect, which noncompliance or
      inaccuracy is not cured after 20 days written notice thereof is given to
      EVG.  If this Agreement is terminated pursuant to this paragraph
      (b) of this Section 3.6, this Agreement shall be of no further force or
      effect and no obligation, right or liability shall arise
      hereunder.

              

      

      

      
        	
                 
      

              	
                (c)
      This Agreement may be terminated at any time prior to the Closing Date by
      action of the board of directors of EVG if GHG shall fail to comply in any
      material respect with any of its covenants or agreements contained in this
      Agreement or if any of the representations or warranties of GHG contained
      herein shall be inaccurate in any material respect, which noncompliance or
      inaccuracy is not cured after 20 days written notice thereof is given to
      GHG.  If this Agreement is terminated pursuant to this paragraph
      (c) of this Section 3.6, this Agreement shall be of no further force or
      effect and no obligation, right or liability shall arise
      hereunder.

              

      

      

      In the event of termination pursuant to
paragraph (b) and (c) of this Section 3.6, the breaching party shall bear all of
the expenses incurred by the other party in connection with the negotiation,
drafting and execution of this Agreement and the transactions herein
contemplated.

      

      Section
3.7             Officers and Directors of EVG.
On the Closing Date, Colette Kim shall resign as sole officer and director of
EVG, and Alex Lemus, and other appointees to be determined, shall be appointed
as officers and directors of EVG.

      

      ARTICLE
IV

      SPECIAL
COVENANTS

      

      Section
4.1             Access to Properties and
Records.     Prior to closing, GHG and EVG will
each afford to the officers and authorized representatives of the other full
access to the properties, books and records of each other, in order that each
may have full opportunity to make such reasonable investigation as it shall
desire to make of the affairs of the other and each will furnish the other with
such additional financial and operating data and other information as to the
business and properties of each other, as the other shall from time to time
reasonably request.

       

       

      
        
           

        

        
          11

          
            

          

        

        
           

        

      

       

      
 

      Section
4.2             Registration Rights of EVG
Shareholders.  The shares of common stock held by the EVG
shareholders prior to the Closing Date shall be registered on a Form S-1 (or any
other applicable form) (the “Registration Statement”) to be filed with the
Securities and Exchange Commission (the “SEC”) within ninety (90) days following
the Closing Date.  The stockholders of EVG prior to the date of this
Agreement and their respective heirs, administrators, personal representatives,
successors and assigns, are intended third party beneficiaries of the provisions
set forth herein.  The covenants set forth in this Section 4.2 shall
survive the Closing and the consummation of the transactions herein
contemplated.

      

      Section
4.3             Special Covenants and Representations
Regarding the GHG Common Shares to be Issued in the
Exchange.  The consummation of this Agreement, including the
issuance of the GHG Common Shares to the Shareholders of EVG as contemplated
hereby, constitutes the offer and sale of securities under the Securities Act,
and applicable state statutes.  Such transaction shall be consummated
in reliance on exemptions from the registration and prospectus delivery
requirements of such statutes which depend, inter alia, upon the circumstances
under which the EVG Shareholders acquire such securities.

      

      Section
4.4             Third Party
Consents.   GHG and EVG agree to cooperate with each other
in order to obtain any required third party consents to this Agreement and the
transactions herein contemplated.

      

      Section
4.5             Actions Prior and Subsequent to
Closing.

      

      (a) From and after the date of this
Agreement until the Closing Date, except as permitted or contemplated by this
Agreement, GHG and EVG will each use its best efforts to:

      

      
        	
                (i)  

              	
                maintain
      and keep its properties in states of good repair and condition as at
      present, except for depreciation due to ordinary wear and tear and damage
      due to casualty;

              

      

      
        	
                (ii)  

              	
                maintain
      in full force and effect insurance comparable in amount and in scope of
      coverage to that now maintained by
it;

              

      

      
        	
                (iii)  

              	
                perform
      in all material respects all of its obligations under material contracts,
      leases and instruments relating to or affecting its assets, properties and
      business;

              

      

      

      (b) From and after the date of this
Agreement until the Closing Date, GHG will not, without the prior consent of
EVG:

      

      
        	
                (i)  

              	
                except
      as otherwise specifically set forth herein, make any change in its
      articles of incorporation or
bylaws;

              

      

      
        	
                (ii)  

              	
                declare
      or pay any dividend on its outstanding Common Shares, except as may
      otherwise be required by law, or effect any stock split or otherwise
      change its capitalization, except as provided
  herein;

              

      

      
        	
                (iii)  

              	
                enter
      into or amend any employment, severance or agreements or arrangements with
      any directors or officers;

              

      

      
        	
                (iv)  

              	
                grant,
      confer or award any options, warrants, conversion rights or other rights
      not existing on the date hereof to acquire any Common Shares;
      or

              

      

      
        	
                (v)  

              	
                purchase
      or redeem any Common Shares.

              

      

       

       

      
        
           

        

        
          12

          
            

          

        

        
           

        

      

       

      
 

      Section
4.6                 Indemnification.

      

      
        	
                 
      

              	
                (a)  GHG
      hereby agrees to indemnify EVG, each of the officers, agents and directors
      and current shareholders of EVG as of the Closing Date against any loss,
      liability, claim, damage or expense (including, but not limited to, any
      and all expense whatsoever reasonably incurred in investigating, preparing
      or defending against any litigation, commenced or threatened or any claim
      whatsoever), to which it or they may become subject to or rising out of or
      based on any inaccuracy appearing in or misrepresentation made in this
      Agreement.  The indemnification provided for in this paragraph
      shall survive the Closing and consummation of the transactions
      contemplated hereby and termination of this Agreement;
  and

              

      

      

      
        	
                 
      

              	
                (b)  EVG
      hereby agrees to indemnify GHG, each of the officers, agents, directors
      and current shareholders of GHG as of the Closing Date against any loss,
      liability, claim, damage or expense (including, but not limited to, any
      and all expense whatsoever reasonably incurred in investigating, preparing
      or defending against any litigation, commenced or threatened or any claim
      whatsoever), to which it or they may become subject arising out of or
      based on any inaccuracy appearing in or misrepresentation made in this
      Agreement. The indemnification provided for in this paragraph shall
      survive the Closing and consummation of the transactions contemplated
      hereby and termination of this
Agreement.

              

      

      

      ARTICLE
V

      CONDITIONS
PRECEDENT TO OBLIGATIONS OF EVG

      

      The obligations of EVG under this
Agreement are subject to the satisfaction, at or before the Closing Date, of the
following conditions:

      

      Section
5.1             Accuracy of
Representations.  The representations and warranties made by
GHG in this Agreement were true when made and shall be true at the Closing Date
with the same force and effect as if such representations and warranties were
made at the Closing Date (except for changes therein permitted by this
Agreement), and GHG shall have performed or compiled with all covenants and
conditions required by this Agreement to be performed or complied with by GHG
prior to or at the Closing.  EVG shall be furnished with a
certificate, signed by a duly authorized officer of GHG and dated the Closing
Date, to the foregoing effect.

      

      Section
5.2             Approvals.  The
Board of Directors and majority shareholders of GHG shall have approved this
Agreement and the transactions contemplated herein.

      

      Section
5.3             Officer's
Certificate.   EVG shall have been furnished with a
certificate dated the Closing Date and signed by a duly authorized officer of
GHG to the effect that:  (a)  the representations and
warranties of GHG set forth in the Agreement and in all Exhibits, Schedules and
other documents furnished in connection herewith are in all material respects
true and correct as if made on the Effective Date;  (b)  GHG
has performed all covenants, satisfied all conditions, and complied with all
other terms and provisions of this Agreement to be performed, satisfied or
complied with by it as of the Effective Date;  (c)  since
such date and other than as previously disclosed to EVG, GHG has not entered
into any material transaction other than transactions which are usual
and  in the ordinary course if its business; and  (d) no
litigation, proceeding, investigation or inquiry is pending or, to the best
knowledge of GHG, threatened, which might result in an action to enjoin or
prevent the consummation of the transactions contemplated by this Agreement or,
to the extent not disclosed in the GHG Schedules, by or against GHG which might
result in any material adverse change in any of the assets, properties, business
or operations of GHG.

       

      
        
           

        

        
          13

          
            

          

        

        
           

        

      

       

       

      
 

      Section
5.4             Delivery of Audit Report and
Financial Statements.  At the Closing, GHG shall have completed
and delivered the audit of its financial statements for the years ended December
31, 2008 and 2007 and shall have received an audit report from an independent
audit firm that is registered with the Public Company Accounting Oversight Board
relating to the fiscal years ended December 31, 2008 and 2007.  In
addition, GHG shall have and delivered the review of its financial statements
for the three months ended March 31, 2009. The form and substance of the
financial statements shall be prepared in accordance with U.S. generally
accepted accounting principles, SEC rules and regulations. Such financial
statements must be delivered within ten (10) weeks of the execution of this
Agreement.

      

      Section
5.5             No Material Adverse
Change.   Prior to the Closing Date, there shall not have
occurred any material adverse change in the financial condition, business or
operations of nor shall any event have occurred which, with the lapse of time or
the giving of notice, may use or create any material adverse change in the
financial condition, business or operations of GHG.

      

      Section
5.6             Other
Items.   EVG shall have received such further documents,
certificates or instruments relating to the transactions contemplated hereby as
EVG may reasonably request.

      

      ARTICLE
VI

      CONDITIONS
PRECEDENT TO OBLIGATIONS OF GHG

      

      The obligations of GHG under this
Agreement are subject to the satisfaction, at or before the Closing Date (unless
otherwise indicated herein), of the following conditions:

      

      Section
6.1             Accuracy of
Representations.   The representations and warranties made
by EVG in this Agreement were true when made and shall be true as of the Closing
Date (except for changes therein permitted by this Agreement) with the same
force and effect as if such representations and warranties were made at and as
of the Closing Date, and EVG shall have performed and complied with all
covenants and conditions required by this Agreement to be performed or complied
with by EVG prior to or at the Closing.  GHG shall have been furnished
with a certificate, signed by a duly authorized executive officer of EVG and
dated the Closing Date, to the foregoing effect.

      

      Section
6.2            
Director Approval.   The Board of Directors of EVG shall
have approved this Agreement and the transactions contemplated
herein.

      

      Section
6.3             Officer's
Certificate.   GHG shall be furnished with a certificate
dated the Closing date and signed by a duly authorized officer of EVG to the
effect that:  (a) the representations and warranties of EVG set forth
in the Agreement and in all Exhibits, Schedules and other documents furnished in
connection herewith are in all material respects true and correct as if made on
the Effective Date; and (b) EVG had performed all covenants, satisfied all
conditions, and complied with all other terms and provisions of the Agreement to
be performed, satisfied or complied with by it as of the Effective
Date.

       

       

      
        
           

        

        
          14

          
            

          

        

        
           

        

      

       

      
 

      Section
6.4            
No Material Adverse
Change.   Prior to the Closing Date, there shall not have
occurred any material adverse change in the financial condition, business or
operations of nor shall any event have occurred which, with the lapse of time or
the giving of notice, may cause or create any material adverse change in the
financial condition, business or operations of EVG.

      

      ARTICLE
VII

      MISCELLANEOUS

      

      Section
7.1             Brokers and
Finders.    Each party hereto hereby represents and
warrants that it is under no obligation, express or implied, to pay certain
finders in connection with the bringing of the parties together in the
negotiation, execution, or consummation of this Agreement. The parties each
agree to indemnify the other against any claim by any third person for any
commission, brokerage or finder's fee or other payment with respect to this
Agreement or the transactions contemplated hereby based on any alleged agreement
or understanding between the indemnifying party and such third person, whether
express or implied from the actions of the indemnifying party.

      

      Section
7.2             Law, Forum and
Jurisdiction.  This Agreement shall be construed and
interpreted in accordance with the laws of the State of Delaware, United States
of America.

      

      Section
7.3             Notices.  Any
notices or other communications required or permitted hereunder shall be
sufficiently given if personally delivered to it or sent by registered mail or
certified mail, postage prepaid, or by prepaid telegram addressed as
follows:

      

      If to
GHG:                                930
Sahara Ave., #679

                                       
Las Vegas, NV 89917

                                       Attn:  Mr.
Alex Lemus

      

      If to
EVG:                                1314
E. Las Olas Blvd., Ste 1030

                     
 Fort Lauderdale, FL 33301

                      
Attn: President

      

      or such
other addresses as shall be furnished in writing by any party in the manner for
giving notices hereunder, and any such notice or communication shall be deemed
to have been given as of  the date so delivered, mailed or
telegraphed.

       

      
        
           

        

        
          15

          
            

          

        

        
           

        

      

       

      
 

      Section
7.4             Attorneys'
Fees.     In the event that any party institutes
any action or suit to enforce this Agreement or to secure relief from any
default hereunder or breach hereof, the breaching party or parties shall
reimburse the non-breaching party or parties for all costs, including reasonable
attorneys' fees, incurred in connection therewith and in enforcing or collecting
any judgment rendered therein.

      

      Section
7.5             Confidentiality.  Each
party hereto agrees with the other party that, unless and until the transactions
contemplated by this Agreement have been consummated, they and their
representatives will hold in strict confidence all data and information obtained
with respect to another party or any subsidiary thereof from any representative,
officer, director or employee, or from any books or records or from personal
inspection, of such other party, and shall not use such data or information or
disclose the same to others, except:  (i)  to the extent
such data is a matter of public knowledge or is required by law to be published;
and (ii)  to the extent that such data or information must be used or
disclosed in order to consummate the transactions contemplated by this
Agreement.

      

      Section
7.6             Schedules;
Knowledge.  Each party is presumed to have full knowledge of
all information set forth in the other party's schedules delivered pursuant to
this Agreement.

      

      Section
7.7             Third Party
Beneficiaries.  This contract is solely between GHG and EVG and
except as specifically provided, no director, officer, stockholder, employee,
agent, independent contractor or any other person or entity shall be deemed to
be a third party beneficiary of this Agreement.

      

      Section
7.8             Entire
Agreement.   This Agreement represents the entire
agreement between the parties relating to the subject matter
hereof.  This Agreement alone fully and completely expresses the
agreement of the parties relating to the subject matter hereof.  There
are no other courses of dealing, understanding, agreements, representations or
warranties, written or oral, except as set forth herein.  This
Agreement may not be amended or modified, except by a written agreement signed
by all parties hereto.

      

      

      Section
7.9             Counterparts.   This
Agreement may be executed in multiple counterparts, each of which shall be
deemed an original and all of which taken together shall be but a single
instrument.

      

      Section
7.10           Amendment or
Waiver.    Every right and remedy provided herein
shall be cumulative with every other right and remedy, whether conferred herein,
at law, or in equity, and may be enforced concurrently herewith, and no waiver
by any party of the performance of any obligation by the other shall be
construed as a waiver of the same or any other default then, theretofore, or
thereafter occurring or existing.  At any time prior to the Closing
Date, this Agreement may be amended by a writing signed by all parties hereto,
with respect to any of the terms contained herein, and any term or condition of
this Agreement may be waived or the time for performance hereof may be extended
by a writing signed by the party or parties for whose benefit the provision is
intended.

      

      Section
7.11           Expenses.  Each
party herein shall bear all of their respective cost s and expenses incurred in
connection with the negotiation of this Agreement and in the consummation of the
transactions provided for herein and the preparation thereof.

       

       

      
        
           

        

        
          16

          
            

          

        

        
           

        

      

      
 

      Section
7.12           Headings;
Context.    The headings of the sections and
paragraphs contained in this Agreement are for convenience of reference only and
do not form a part hereof and in no way modify, interpret or construe the
meaning of this Agreement.

      

      Section
7.13           Benefit.   This
Agreement shall be binding upon and shall inure only to the benefit of the
parties hereto, and their permitted assigns hereunder.  This Agreement
shall not be assigned by any party without the prior written consent of the
other party.

      

      Section
7.14           Public
Announcements.   Except as may be required by law, neither
party shall make any public announcement or filing with respect to the
transactions provided for herein without the prior consent of the other party
hereto, except as required by law.

      

      Section
7.15           Severability.  In
the event that any particular provision or provisions of this Agreement or the
other agreements contained herein shall for any reason hereafter be determined
to be unenforceable, or in violation of any law, governmental order or
regulation, such unenforceability or violation shall not affect the remaining
provisions of such agreements, which shall continue in full force and effect and
be binding upon the respective parties hereto.

      

      Section
7.16           Failure of Conditions;
Termination.     In the event of any of the
conditions specified in this Agreement shall not be fulfilled on or before the
Closing Date, either of the parties have the right either to proceed or, upon
prompt written notice to the other, to terminate and rescind this
Agreement.  In such event, the party that has failed to fulfill the
conditions specified in this Agreement will liable for the other parties legal
fees.  The election to proceed shall not affect the right of such
electing party reasonably to require the other party to continue to use its
efforts to fulfill the unmet conditions.

      

      Section
7.17           No Strict
Construction.    The language of this Agreement shall
be construed as a whole, according to its fair meaning and intendment, and not
strictly for or against either party hereto, regardless of who drafted or was
principally responsible for drafting the Agreement or terms or conditions
hereof.

      

      Section
7.18           Execution Knowing and
Voluntary.  In executing this Agreement, the parties severally
acknowledge and represent that each: (a) has fully read and considered this
Agreement; (b) has been or has had the opportunity to be fully apprized by its
attorneys of the legal effect and meaning of this document and all terms and
conditions hereof; (c) is executing this Agreement voluntarily, free from any
influence, coercion or duress of any kind.

      

      Section
7.19          
Amendment.   At any time after the Closing Date, this
Agreement may be amended by a writing signed by both parties, with respect to
any of the terms contained herein, and any term or condition of this Agreement
may be waived or the time for performance hereof may be extended by a writing
signed by the party or parties for whose benefit the provision is
intended.

       

      
 

      
        
           

        

        
          17

          
            

          

        

        
           

        

      

      

      IN WITNESS WHEREOF, the
corporate parties hereto have caused this Agreement to be executed by their
respective officers, hereunto duly authorized, and entered into as of the date
first above written.

      

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      	 ATTEST:	 	
                                              EQUITY VENTURES GROUP,
      INC.

                                            
	 
      	 	 
      
	 
      	 	
                                              By: 
      /s/ Collette Kim

                                            
	 
      	 	
                                              Collette
      Kim

                                            
	 
      	 	
                                              President

                                            
	 
      	 	 
      
	ATTEST:	 	
                                              GHG TRADING PLATFORMS,
      INC.

                                            
	 
      	 	 
      
	 
      	 	
                                              By: 
      /s/ Alex Lemus

                                            
	 
      	 	
                                              Alex
      Lemus

                                            
	 
      	 	
                                              President

                                            
	 
      	 	 
      
	 
      	 	 
      
	ATTEST:	 	
                                              SHAREHOLDERS OF GHG TRADING
      PLATFORMS, INC.

                                            
	 
      	 	 
      
	 
      	 	
                                               

                                            
	 
      	 	 
      
	 
      	 	 
      
	 
      	 	
                                               

                                            
	 
      	 	 
      
	 
      	 	 
      
	 
      	 	
                                               

                                            
	 
      	 	 
      
	 
      	 	 
      
	 
      	 	
                                               

                                            
	 
      	 	 
      
	 
      	 	
                                               

                                            

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

     

     

    
      
         

      

      
        18

        
          

        

      

      
         

      

    

     

    
      
Annex 1

      

      Exchange
Shares to Be Issued

      
 

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

      19Inland Western Retail Real Estate Trust, Inc.

Exhibit 10.5

AMENDED AND RESTATED 

INLAND WESTERN RETAIL REAL ESTATE TRUST, INC.

INDEPENDENT DIRECTOR STOCK OPTION PLAN

(As of January 2008)

ARTICLE I

GENERAL

1.1

PURPOSE:

Inland Western Retail Real Estate Trust, Inc., a Maryland corporation (the “Company”), hereby adopts this Independent Director Stock Option Plan (the “Plan”).  The purpose of the Plan is to foster and promote the long-term financial success of the Company by attracting and retaining outstanding nonemployee directors by enabling them to participate in the Company’s growth through the granting of Options (as defined in Article II) which entitle them to purchase shares of the Company’s common stock, par value $0.001 per share (“Shares”).

1.2

PARTICIPATION:

Only directors of the Company who at the time an Option is granted are “Non-Employee Directors” as such term is defined in Rule 16b3 promulgated under the Securities Exchange Act of 1934, as amended (“Rule 16b3”), or any similar rule which may subsequently be in effect (the “Independent Directors”) shall receive an Option under the Plan.

1.3

SHARES SUBJECT TO THE PLAN:

Shares to be issued upon exercise of Options granted under the Plan may be in whole or in part from authorized but unissued Shares or treasury Shares of the Company.  A maximum of 75,000 Shares (the “Plan Maximum”) may be issued for all purposes under the Plan (subject to adjustment pursuant to Section 3.2), and the Company shall reserve 75,000 authorized but unissued Shares as of the date this Plan is established for issuance upon exercise of Options granted under the Plan.  Any Shares reserved for issuance under Options which for any reason are canceled or terminated without having been exercised shall not be counted in determining whether the Plan Maximum has been reached.  Options for fractional shares shall not be granted.

1.4

GENDER AND NUMBER:

Except when otherwise indicated by the context, words in the masculine gender when used in the Plan shall include the feminine gender, the singular shall include the plural, and the plural shall include the singular.

ARTICLE II

STOCK OPTION AWARDS

2.1

AWARD OF STOCK OPTIONS:

(a)

Effective on the date on which an Independent Director becomes a member of the Board of Directors of the Company, each Independent Director who satisfies the conditions set forth in Section 1.2 will automatically be awarded a stock option (an “Initial Option”) under the Plan to purchase 5,000 Shares (subject to adjustment pursuant to Section 3.2).  Effective on the date of each Annual Meeting of Stockholders of the Company (an “Annual Meeting”), commencing with the Company’s Annual Meeting in 2008, each Independent Director then in office who satisfies the conditions set forth in Section 1.2 will automatically be awarded a stock option (a “Subsequent Option” or the “Subsequent Options”, collectively with the “Initial Options” referred to herein as an “Option” or “Options”) to purchase 5,000 Shares (subject to adjustment pursuant to Section 3.2). The Options are not intended to qualify as “incentive stock options” as defined in Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”).

(b)

Notwithstanding any other provision of this Plan, no Options shall be issued pursuant to Section 2.1(a) to the extent that the issuance of such Options would (i) enable the Independent Directors as a group to hold more than 10% of the outstanding Shares if such Options were exercised; (ii) result in the Company being “closely held” within the meaning of Code Section 856(h); (iii) cause the Company to own, directly or constructively, 10% or more of the ownership interests in a tenant of the property of the Company (or of the property of one or more partnerships in which the Company is a partner), within the meaning of Code Section 856(d)(2)(B); or (iv) cause, in the opinion of counsel to the Company, the Company to fail to qualify (or create, in the opinion of counsel to the Company, a material risk that the Company would no longer qualify) as a real estate investment trust within the meaning of Code Section 856.  To the extent that the issuance of Options pursuant to Section 2.1(a) would violate any of these limitations, the number of Shares that may be purchased under the Options to be issued to each of the Independent Directors shall be reduced pro rata.  To the extent that the number of Shares which may be purchased under Options issued to an Independent Director is reduced in any year as a result of the application of these limitations, Options to purchase such Shares shall be issued to the Independent Director in any subsequent year in which issuance of such Options, after taking into account the Options to be issued to the Independent Directors in such subsequent year under Section 2.1(a), would not violate the limitations imposed by this Section 2.1(b).  To the extent that the issuance of an Option is delayed until a subsequent year under this Section 2.1, the Option shall be treated for all purposes under this Plan as having been issued in such subsequent year.

2.2

STOCK OPTION CERTIFICATES:

The award of an Option shall be evidenced by a certificate executed by an officer of the Company.

2

2.3

OPTION PRICE:

The purchase price of a Share (the “Option Price”) under each Initial Option granted shall be the Fair Market Value (as defined in Section 3.5) of a Share on the date of the grant.  The Option Price under each Subsequent Option granted on the date of any Annual Meeting shall be the Fair Market Value of a Share on the last business day preceding the date of the Annual Meeting.

2.4

EXERCISE AND TERM OF OPTIONS:

(a)

Options may be exercised by the delivery of written notice of exercise and payment of the aggregate Option Price for the Shares to be purchased to the Secretary of the Company.  The Option Price may be paid in cash (including check, bank draft or money order) or, unless in the opinion of counsel to the Company doing so may result in a possible violation of law, by delivery of Shares already owned by the Independent Director, valued at Fair  Market Value on the date of the exercise.  As soon as practicable after receipt of each notice and full payment, the Company shall deliver to the Independent Director a certificate or certificates representing the purchased Shares.  An Independent Director shall have none of the rights of a shareholder until a certificate or certificates for Shares underlying the Option(s) exercised are issued and no adjustment will be made for dividends or other rights for which the record date is prior to the date such certificate or certificates are issued.

(b)

Each certificate for Shares issued upon exercise of an Option, unless at the time of exercise such Shares are registered with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “Act”), shall bear the following legend:

NO SALE, TRANSFER, PLEDGE OR OTHER DISPOSITION OF THESE SHARES SHALL BE MADE EXCEPT PURSUANT TO REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR PURSUANT TO AN OPINION OF COUNSEL SATISFACTORY TO THE CORPORATION THAT REGISTRATION IS NOT REQUIRED.

Any certificate issued at any time in exchange or substitution for any certificate bearing such legend (except a new certificate issued upon completion of a public distribution pursuant to a registration statement under the Act of the securities represented thereby) shall also bear the above legend unless, in the opinion of such counsel as shall be reasonably approved by the Company, the securities represented thereby no longer need be subject to such restrictions.

Each certificate for Shares issued upon exercise of an Option shall also bear any legends required by the Company’s Articles of Incorporation and the transferability of the certificate and the Shares represented thereby shall be subject to the restrictions contained in the Company’s Articles of Incorporation.

(c)

An Independent Director’s Initial Option shall (subject to Section 3.1) become exercisable as follows: (i) 1,666 shares on the date of grant, (ii) an additional 1,666 shares on the first anniversary of the date of grant, and (iii) an additional 1,668 shares on the second anniversary of the date of grant  and shall continue to be exercisable until the first to occur of (i) the tenth anniversary of the date of grant, (ii) the removal for cause of the Independent 

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Director as an Independent Director, or (iii) three months following the date the Independent Director ceases to be an Independent Director for any other reason except death or disability.  Each of an Independent Director’s Subsequent Options shall (subject to Section 3.1) become fully exercisable on the second anniversary of the date on which the Subsequent Option(s) was granted  and shall continue to be exercisable until the first to occur of (i) the tenth anniversary of the date of grant, (ii) the removal for cause of the Independent Director as an Independent Director, or (iii) three months following the date the Independent Director ceases to be an Independent Director for any other reason except death or disability.  Notwithstanding the foregoing, Options granted under this Plan shall continue to be exercisable in the case of death or disability for a period of one year after death or the disabling event, provided that the death or disabling event occurs while the person is an Independent Director and prior to his or her removal for cause, resignation or ceasing to be an Independent Director for any other reason and the Option is otherwise exercisable on the date of the death or disabling event; provided, however, if the Option is exercised within the first six months after it becomes exercisable, any Shares issued pursuant to such exercise may not be sold until the six month anniversary of the date of the grant of the Option. An Independent Director is removed “for cause” for gross negligence or willful misconduct in the execution of his duties; or for conviction of, or entry of a plea of guilty or nolo contendere to, any felony or any act of fraud, embezzlement, misappropriation, or a crime involving moral turpitude.

(d)

Notwithstanding any other terms or provisions herein to the contrary, no Option may be exercised if, in the opinion of the Company’s counsel, such exercise would jeopardize the Company’s  status as a real estate investment trust under the Code.

ARTICLE III

MISCELLANEOUS PROVISIONS 

3.1

NONTRANSFERABILITY; BENEFICIARIES:

No Option awarded under the Plan shall be transferable by the Independent Director otherwise than by will or, if the Independent Director dies intestate, by the laws of descent and distribution.  All Options exercised during the Independent Director’s lifetime shall be exercised only by the Independent Director or his legal representative.  Any transfer contrary to this Section 3.1 will nullify the Option.  Notwithstanding any other provisions of this Plan, Options granted under this Plan shall continue to be exercisable in the case of death or disability for a period of one year after death or the disabling event, provided that the death or disabling event occurs while the person is an Independent Director and prior to his or her removal for cause, resignation or ceasing to be an Independent Director for any other reason and the Option is exercisable on the date of the Independent Director’s death or disabling event; provided, however, if the Option is exercised within the first six months after it becomes exercisable, any Shares issued on such exercise may not be sold until the six month anniversary of the date of the grant of the Option.  Each Independent Director may name, from time to time, any beneficiary or beneficiaries (who may be named contingently or successively) who may exercise such Options.  Each designation will revoke all prior designations by such Independent Director, must be in writing and will be effective only when filed with the Secretary of the Company during his lifetime.

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3.2

ADJUSTMENT UPON CERTAIN CHANGES:

(a) 

If the outstanding Shares are (i) increased, decreased, or (ii) changed into, or exchanged for, a different number or kind of shares or securities of the Company, through a reorganization or merger in which the Company is the surviving entity, or through a combination, recapitalization, reclassification, stock split, stock dividend, stock consolidation or otherwise, an appropriate adjustment shall be made in the number and kind of Shares that may be issued pursuant to an Option and in the minimum number of Shares that must be issued and outstanding prior to the issuance of the Initial Options pursuant to Section 2.1(a)(iii).  A corresponding adjustment to the consideration payable with respect to all Options granted prior to any such change shall also be made.  Any such adjustment, however, shall be made without change in the total payment, if any, applicable to the portion of the Option not exercised but with a corresponding adjustment in the Option Price for each Share.

(b)

Upon the dissolution or liquidation of the Company, or upon a reorganization, merger or consolidation of the Company with one or more corporations as a result of which the Company is not the surviving corporation, or upon sale of all or substantially all of the Company’s property, the Plan shall terminate, and any outstanding Options shall terminate and be forfeited.  However, holders of Options may exercise any Options that are otherwise exercisable immediately prior to the dissolution, liquidation, consolidation or merger.  Notwithstanding the foregoing, the Board of Directors may provide in writing in connection with, or in contemplation of, any such transaction for any or all of the following alternatives (separately or in combinations): (i) for the assumption by the successor corporation of the Options theretofore granted or the substitution by such corporation for such Options of awards covering the stock of the successor corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and prices; (ii) for the continuance of the Plan by such successor corporation in which event the Plan and the Options shall continue in the manner and under the terms so provided; or (iii) for the payment in cash or Shares in lieu of and in complete satisfaction of such Options.

3.3

AMENDMENT, SUSPENSION AND TERMINATION OF PLAN:

The Board of Directors may suspend or terminate the Plan or any portion thereof at any time and may amend it from time to time in such respects as the Board of Directors may deem advisable in order that any Options thereunder shall conform to or otherwise reflect any change in applicable laws or regulations, or to permit the Company or the Independent Directors to enjoy the benefits of any change in applicable laws or regulations, or in any other respect the Board of Directors may deem to be in the best interests of the Company; provided, however, that no such amendment shall, without stockholder approval to the extent required by law, or any agreement or the rules of any stock exchange upon which the Shares may be listed or of any national market system on which Shares may be traded: (a) except as provided in Section 3.2, materially increase the number of Shares which may be issued under the Plan; (b) materially modify the requirements as to eligibility for participation in the Plan; (c) materially increase the benefits accruing to Independent Directors under the Plan; or (d) extend the termination date of the Plan.  No such amendment, suspension or termination shall: (x) impair the rights of Independent Directors under any outstanding Option without the consent of the Independent Directors affected thereby; or (y) make any change that would disqualify the Plan, or any other plan of the Company intended to be so qualified, from the exemption provided by Rule 16b3.

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3.4

TAX WITHHOLDING:

(a)

The Company shall have the power to withhold, or require an Independent Director to remit to the Company, an amount sufficient to satisfy any withholding or other tax due from the Company with respect to any amount payable and/or Shares issuable under the Plan, and the Company may defer such payment or issuance unless indemnified to its satisfaction.

(b)

Subject to the consent of the Board of Directors of the Company, due to the exercise of an Option, an Independent Director may make an irrevocable election (an “Election”) to: (a) have Shares otherwise issuable hereunder withheld; or (b) tender back to the Company Shares received; or (c) deliver back to the Company previously acquired Shares having a Fair Market Value sufficient to satisfy all or part of the Independent Director’s estimated tax obligations associated with the transaction.  Such Election must be made by an Independent Director prior to the date on which the relevant tax obligation arises.  The Board of Directors of the Company may disapprove of any Election, may suspend or terminate the right to make Elections, or may provide with respect to any Option under this Plan that the right to make Elections shall not apply to such Option.

3.5

DEFINITION OF FAIR MARKET VALUE:

“Fair Market Value” on any date shall mean the average of the Closing Price (as defined below) per Share for the five consecutive Trading Days (as defined below) ending on such date.  The “Closing Price” on any date shall mean the last sale price, regular way (as defined below), or, in case no such sale takes place on such day, the average of the closing bid and asked prices, regular way, in either case as reported in the principal consolidated transaction reporting system with respect to securities listed or admitted to trading on the principal national securities exchange on which the Shares are listed or admitted to trading or, if the Shares are not listed or admitted to trading on any national securities exchange, the average of the closing bid and asked prices as furnished by a professional market maker making a market in the Shares selected by the Board or, if there is no professional market maker making a market in the Shares, the average of the last ten (10) purchases by the Company pursuant to its Share Repurchase Program (the “SRP”), and if there are fewer than ten (10) of such purchases under the SRP, then the average of such lesser number of purchases, or, if the SRP is not then in existence, the price at which the Company is then offering Shares to the public if the Company is then engaged in a public offering of Shares, or if the Company is not then offering Shares to the public, the price per share at which a Stockholder may purchase Shares pursuant to the Company’s Distribution Reinvestment Program (the “DRP”) if such DRP is then in existence, or if the DRP is not then in existence, the fair market value of a Share as determined by the Company, in its sole discretion.  “Trading Day” shall mean a day on which the principal national securities exchange or national automated quotation system on which the Shares are listed or admitted to trading is open for the transaction of business or, if the Shares are not listed, shall mean any day other than a Saturday, a Sunday or a day on which banking institutions in the State of Illinois are authorized or obligated by law or executive order to close.  The term “regular way” means a trade that is effected in a recognized securities market for clearance and settlement pursuant to the rules and procedures of the National Securities Clearing Corporation, as opposed to a trade effected “ex-clearing” for same-day or next-day settlement.

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3.6

PLAN NOT EXCLUSIVE:

The adoption of the Plan shall not preclude the adoption by appropriate means of any other stock option or other incentive plan for Independent Directors or other Directors of the Company.

3.7

LISTING, REGISTRATION AND LEGAL COMPLIANCE:

Each Option shall be subject to the requirement that if at any time counsel to the Company shall determine that the listing, registration or qualification thereof or of any Shares or other property subject thereto upon any securities exchange or under any foreign, federal or state securities or other law or regulation, or the consent or approval of any governmental body or the taking of any other action to comply with or otherwise, with respect to any such law or regulation, is necessary or desirable as a condition to or in connection with the award of such Option or the issue, delivery or purchase of Shares or other property thereunder, no such Option may be exercised or paid in Shares or other property unless such listing, registration, qualification, consent, approval or other action shall have been effected or obtained free of any conditions not acceptable to the Company, and the holder of the award will supply the Company with such certificates, representations and information as the Company shall request and shall otherwise cooperate with the Company in effecting or obtaining such listing, registration, qualification, consent, approval or other action.  The Company may at any time impose any limitations upon the exercise, delivery or payment of any Option which, in the opinion of the Board of Directors of the Company, are necessary or desirable in order to cause the Plan or any other plan of the Company to comply with Rule 16b3.  If the Company, as part of an offering of securities or otherwise, finds it desirable because of foreign, federal or state legal or regulatory requirements to reduce the period during which Options may be exercised, the Board of Directors of the Company may, without the holders’ consent, so reduce such period on not less than 15 days written notice to the holders thereof.

3.8

RIGHTS OF INDEPENDENT DIRECTORS:

Nothing in the Plan shall confer upon any Independent Director any right to serve as an Independent Director for any period of time or to continue serving at his present or any other rate of compensation.

3.9

NO OBLIGATION TO EXERCISE OPTION:

The granting of an Option shall impose no obligation upon the Independent Director to exercise such Option.

3.10

REQUIREMENTS OF LAW; GOVERNING LAW:

The granting of Options under this Plan shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required.  The Plan and all agreements hereunder, shall be construed in accordance with and governed by the laws of the State of Illinois.  The provisions of this Plan shall be interpreted so as to comply with the conditions or requirements of Rule 16b3, unless a contrary interpretation of any such provision is otherwise required by applicable law.

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