Document:

Exhibit 10.6

 

WAIVER AGREEMENT

 

This Waiver Agreement
(this “Agreement”) is made and entered into as of October 31, 2013, by and among CLCH, LLC, an Alaska limited liability
company, Seismic Management Holdings Inc., an Alberta corporation, and Brent Whiteley (each, a “Holder” and collectively,
the “Holders”), and SAExploration Holdings, Inc., a Delaware corporation formerly named Trio Merger Corp. (the “Company”).

 

WHEREAS, the Holders,
among others, were stockholders of the Delaware corporation formerly known as SAExploration Holdings, Inc. (“Former SAE”),
which merged with and into Trio Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of the Company now known
as SAExploration Sub, Inc., on June 24, 2013 (the “Merger”); and

 

WHEREAS, in connection
with the Merger, the Company issued an Unsecured Promissory Note in the original principal amount of $17,500,000 to CLCH, LLC,
as representative of the former stockholders of Former SAE (the “Note”); and

 

WHEREAS, the Company
is a party to a Credit Agreement dated as of November 28, 2012, with SAExploration Sub, Inc., SAExploration, Inc., SAExploration
Seismic Services (US), LLC, NES, LLC, the lenders party thereto (the “Lenders”), and MC Admin Co LLC, as Administrative
Agent, as amended by an Amendment No. 1 dated as of December 5, 2012, an Amendment No. 2 and Consent dated as of June 24, 2013,
and an Amendment No. 3 dated as of October 31, 2013 (such Credit Agreement as amended, the “Credit Agreement”); and

 

WHEREAS, in order to
induce the Lenders to enter into Amendment No. 3 to the Credit Agreement, the Holders have agreed to allow the Company to withhold
the interest payments payable under the Note in respect of the Holders’ individual interests as former stockholders of Former
SAE, until such amounts are permitted to be paid under the Credit Agreement;

 

NOW, THEREFORE, the
Holders and the Company hereby agree as follows:

 

1.          Waiver.
Each Holder hereby waives any right to receive payments under the Note in respect of Holder’s individual interest as a former
stockholder of Former SAE for so long as such payments are prohibited under the Credit Agreement. The parties hereto agree that
such payments shall be accrued and paid by the Company promptly upon the termination of such prohibition on payment.

 

2.          Entire
Agreement; Amendment. This Agreement contains the entire understanding between the parties hereto with respect to the transactions
contemplated hereby, and supersedes all prior agreements and understandings, whether written or oral, between the parties hereto
with respect to such subject matter. This Agreement may not be amended other than by a written instrument signed by each the parties
hereto.

 

3.          Binding
Agreement. This Agreement shall be binding upon, inure to the benefit of, and be enforceable by, the parties hereto and their
respective successors, assigns, administrators or trustees.

 

    	 

    	 

    

 

4.          Governing
Law. This Agreement shall be exclusively governed by the laws of the State of Delaware without giving effect to any of its
rules or principles that would require the application of the laws of any other jurisdiction.

 

5.          Counterparts.
This Agreement may be executed and delivered in counterparts (including delivery by facsimile or electronic mail), each of which
shall constitute an original signature for all purposes, and all of which, taken together, shall constitute one and the same agreement.

 

(Remainder of Page
Intentionally Left Blank.)

 

    	2

    	 

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Waiver Agreement as of the date first set forth above.

 

	 	HOLDERS:
	 	 
	 	CLCH, LLC
	 	 
	 	By:	/s/ Jeff Hastings
	 	 	Jeff Hastings, Manager
	 	 
	 	SEISMIC MANAGEMENT HOLDINGS INC.
	 	 
	 	By:	/s/ Brian Beatty
	 	 	Brian Beatty, President
	 	 
	 	/s/ Brent Whiteley
	 	BRENT WHITELEY
	 	 
	 	COMPANY:
	 	 
	 	SAEXPLORATION HOLDINGS, INC.
	 	 
	 	By:	/s/ Brian Beatty
	 	 	Brian Beatty, CEO and President

 

    	3Exhibit 10.2

 

13 Tzundik Street

Jerusalem, Israel

 

September 11, 2013

 

Stella Blu, Inc.

270 Greyson Place,

Teaneck, New Jersey 07666

 

Dear Sirs,

 

In consideration of my ownership of 6,500,000
shares of common stock, par value $0.0001 per share, of Stella Blu, Inc. (the “Company”), and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the undersigned hereby agrees as follows:

 

The Company is in the midst of an initial public offering of
up to 1,000,000 shares of its common stock in a direct public offering, without any involvement of underwriters or broker-dealers
at a fixed price of $0.10 per share. The shares will be offered from time to time on a continuous basis, for up to 90 days from
the date that the Registration Statement that the Company filed with the Securities and Exchange Commission (“SEC”)
becomes effective (the “Effective Date”), but the offering may be terminated at any time. The offering may not be extended.

 

The undersigned hereby irrevocably undertakes that during the
period beginning on the Effective Date, and for a period of one year thereafter, the Company may demand, and the undersigned will
be required to make, loans to the Company in an amount not to exceed $5,000 per month or $50,000 in the aggregate.

 

Such loans shall be evidenced by a simple form unsecured promissory
note, which shall (a) subject to (c) below, be payable on demand, (b) bear no interest, and (c) be payable on demand at any time
from the date that is eighteen months from the Effective Date.

 

The undersigned hereby agrees that this letter may be filed
with the SEC as an exhibit to the Company’s Registration Statement under the heading “Form of Eliyahu Undertaking.”

 

IN WITNESS WHEREOF, THE UNDERSIGNED HAS HEREUNTO SET HIS HAND
AS OF THE DATE AND YEAR FIRST ABOVE WRITTEN.

 

 

	 	/s/ Yoel Eliyahu                                                   
	 	Yoel Eliyahu

 

 

    	 

    	 

    

 

AGREED TO AND ACCEPTED:

 

STELLA BLU, INC.

 

 

/s/ Yoel Eliyahu                                                   

Yoel Eliyahu, Chief Executive OfficerExhibit 10.1

 

Janel
World Trade, Ltd.

2013
Non-Qualified Stock Option Plan

 

		1.	purpose.

 

The purpose of the Janel World Trade, Ltd.
(the “Company”) 2013 Non-Qualified Stock Option Plan (the “Plan”) is to promote the financial
interests of the Company, including its growth and performance, by encouraging directors, officers, employees of and consultants
to the Company and its subsidiaries to acquire an ownership position in the Company, enhancing the ability of the Company and its
subsidiaries to attract and retain employees of outstanding ability, and providing directors, employees and consultants with a
way to acquire or increase their proprietary interest in the Company’s success.

 

		2.	shares
subject to the plan.

 

Subject to adjustment as provided in Section
13 hereof, up to 5,000,000 of shares of common stock, par value $0.001 per share, of the Company (the “Shares”)
shall be available for the grant of options under the Plan. The Company shall reserve and keep available such number of Shares
as will satisfy the requirements of all outstanding options granted under the Plan. Shares subject to an option that expires unexercised,
that is forfeited, terminated or canceled, in whole or in part, shall thereafter again be available for grant under the Plan.

 

		3.	administration.

 

The Plan shall be administered by the Compensation
Committee (the “Committee”) of the Board of Directors of the Company (the “Board”) or, if
the Board does not create the Committee, by the Board which shall function as the Committee. A majority of the Committee shall
constitute a quorum, and the acts of a majority shall be the acts of the Committee.

 

Subject to the provisions of the Plan, the
Committee shall (i) from time to time select directors, officers and employees of and consultants to the Company and its subsidiaries
who will participate in the Plan (the “Participants”), (ii) determine the Shares subject to option, (iii) have
the authority to interpret the Plan, to establish, amend and rescind any rules and regulations relating to the Plan, (iv) determine
the terms and provisions of any agreements entered into hereunder, and (v) make all other determinations necessary or advisable
for the administration of the Plan. The Committee may correct any defect, supply any omission or reconcile any inconsistency in
the Plan or in any option in the manner and to the extent it shall deem desirable to carry it into effect. The determinations
of the Committee in the administration of the Plan, as described herein, shall be final and conclusive.

 

		4.	eligibility.

 

All directors, officers and employees of
the Company and its subsidiaries and, subject to the following sentence, consultants to the Company and its subsidiaries, all as
determined by the Committee, are eligible to be Participants in the Plan. As used herein, an eligible Participant which is a “consultant”
means any consultant or adviser to the Company and its subsidiaries if: (i) the consultant or adviser renders bona fide services
to the Company or any subsidiary of the Company; (ii) the services rendered by the consultant or adviser are not in connection
with the offer or sale of securities in a capital-raising transaction and do not directly or indirectly promote or maintain a market
for the Company’s securities; and (iii) the consultant or adviser is a natural person who has contracted directly with
the Company or any subsidiary of the Company to render such services.

 

		5.	options;
exercise price.

 

Options under the Plan will be non-qualified stock
options. The Committee shall establish the option price at the time each stock option is granted.

 

    	

    	 

    

 

 

		6.	exercise
of options.

 

Except as herein provided, options shall
be exercisable for such period as specified by the Committee. In no event may options be exercisable more than 10 years after their
date of grant. The option price of each Share as to which a stock option is exercised shall be paid in full at the time of such
exercise. Such payment shall be made in cash, by tender of Shares owned by the Participant valued at fair market value as of the
date of exercise and in such other consideration as the Committee deems appropriate, or by a combination of cash, Shares and such
other consideration. To exercise the option, the optionee or his successor shall give written notice to the Company’s Chief
Financial Officer at the Company’s principal office, setting forth the number of Shares being purchased and the date of exercise
of the option, which date shall be at least five days after the giving of such notice unless otherwise agreed to by the Committee
and the optionee. Such notice shall be accompanied by full payment of the option exercise price for Shares being purchased and
a written statement that the Shares are purchased for investment and not with a view toward distribution. However, this statement
shall not be required in the event the Shares subject to the option are registered with the Securities and Exchange Commission.
If the option is exercised by the successor of the optionee, following his death, proof shall be submitted, satisfactory to the
Committee, of the right of the successor to exercise the option. Shares issued pursuant to this Plan which have not been registered
with the Securities and Exchange Commission shall be appropriately legended. No Shares shall be issued pursuant to the Plan until
full payment for such Shares has been made. The optionee shall have no rights as a shareholder with respect to optioned Shares
until the date of exercise of the option with respect to such Shares. No adjustment shall be made for dividends (ordinary or extraordinary,
whether in cash, securities or other property) or distributions or other rights for which the record date is prior to such date
of exercise, except as otherwise provided herein. The Company shall not be required to transfer or deliver any certificates for
Shares purchased upon any exercise of any option until after compliance with all then applicable requirements of law. Any fraction
of a Share required to satisfy such obligation shall be disregarded and the amount due shall instead be paid in cash to the Participant.

 

		7.	option agreements.

 

The granting of an option shall take place
only when a written Option Agreement substantially in the form of Exhibit A hereto is executed by the Company and
the optionee and delivered to the optionee. All options under this Plan shall be evidenced by such written Option Agreement between
the Company and the optionee. Such Option Agreement shall contain such further terms and conditions, not inconsistent with the
foregoing, related to the grant or the time or times of exercise of options as the Committee shall prescribe.

 

		8.	withholding.

 

The Company shall have the right to deduct
from any payment to be made pursuant to the Plan, or to require prior to the issuance or delivery of any Shares or the payment
of cash under the Plan, any taxes required by law to be withheld therefrom. The Committee, in its sole discretion, may permit a
Participant to elect to satisfy such withholding obligation by having the Company retain the number of Shares the fair market value
of which equals the mount required to be withheld.

 

		9.	nontransferability.

 

No option shall be assignable or transferable,
and no right or interest of any Participant shall be subject to any lien, obligation or liability of the Participant, except by
will or the laws of descent and distribution.

 

		10.	no right
to employment.

 

No person shall have any claim or right to
be granted an option, and the grant of an option shall not be construed as giving a Participant the right to be retained in the
employ or as a director of the Company or its subsidiaries. Further, the Company and its subsidiaries expressly reserve the right
at any time to dismiss a Participant free from any liability, or any claim under the Plan, except as provided herein or in
any agreement entered into hereunder.

 

    	-2-

    	 

    

 

 

		11.	termination
of rights; death.

 

All unexercised or unexpired options granted
or awarded under this Plan will terminate, be forfeited and will lapse immediately if such Participant’s employment or relationship
with the Company and its subsidiaries is terminated by the Participant for any reason or by the Company due to fraud or other misconduct
which is materially injurious to the Company, monetarily or otherwise. Upon any such termination which will cause forfeiture of
any unexercised options, the Committee may permit the exercise of such options for a period not to exceed 90 days after the date
of such termination. If a Participant’s employment or relationship with the Company is terminated by reason of his death,
such Participant’s personal representatives, estate or heirs (as the case may be) may exercise, subject to any restrictions
imposed by the Committee at the time of the grant, any option which was exercisable by the Participant as of the date of his death
for a period of 180 days after the date of the Participant’s death unless extended by the Committee.

 

		12.	registration.

 

If the Company shall be advised by its counsel
that any Shares deliverable upon any exercise of an option are required to be registered under the Securities Act of 1933, or that
the consent of any other authority is required for the issuance of such Shares, the Company may effect registration or obtain such
consent, and delivery of Shares by the Company may be deferred until registration is effected or such consent is obtained.

 

		13.	adjustment
of and changes in shares.

 

In the event of any change in the outstanding
Shares by reason of any Share dividend or split, recapitalization, merger, consolidation, spinoff, combination or exchange of Shares
or other corporate change, or any distributions to shareholders other than regular cash dividends, the Committee may make such
substitution or adjustment, if any, as it deems to be equitable, as to the exercise price, number or kind of Shares or other securities
issued or reserved for issuance pursuant to the Plan and to outstanding options.

 

		14.	amendment.

 

The Board of Directors may amend or terminate
the Plan or any portion thereof at any time, provided that no amendment shall be made without shareholder approval if such approval
is necessary by law or regulation.

 

		15.	effective
date.

 

The Plan has been adopted by the Board of
Directors of the Company and, upon approval of the Shareholders of the Company, shall be effective as of October 31, 2013. Unless
extended or earlier terminated by the Board of Directors, the Plan shall continue in effect until, and shall terminate on, the
tenth anniversary of the effective date of the Plan. Unless so extended, no additional options may be granted on or after the tenth
anniversary of the effective date of the Plan.

 

    	-3-

    	 

    

Exhibit A 

 

Janel
World Trade, Ltd.

2013
Non-Qualified Stock Option Plan

Stock
Option Agreement

 

THIS STOCK OPTION
AGREEMENT is made this ___ day of _______, 201__, by and between Janel World Trade, Ltd.,
a Nevada corporation (the “Company”), and _____________________________ (the “Optionee”).

 

WHEREAS, the Board
of Directors of the Company considers it desirable and in the Company’s interest that the Optionee be given an opportunity
to purchase its shares of common stock, par value $.01 per share (the “Shares”), pursuant to the terms and conditions
of the Company’s 2013 Non-Qualified Stock Option Plan (the “Plan”) to provide an incentive for the Optionee
and to promote the interests of the Company.

 

NOW, THEREFORE, it
is agreed as follows:

 

1.Incorporation
of the Terms of the Plan. This Stock Option Agreement is subject to all of the terms and conditions of the Plan, and the terms
of the Plan are hereby incorporated herein by reference and made a part hereof.

 

2.Grant of
Option. The Company hereby grants to Optionee an option to purchase from the Company ________ Shares (“Option Shares”)
at the exercise price per Share set forth below. Subject to earlier expiration or termination of the option granted hereunder,
this option shall expire on the ___th anniversary of the date hereof.

 

3.Period of
Exercise of Option. The Optionee shall be entitled to exercise the option granted hereunder to purchase Option Shares as follows:

 

	Exercise Date	No. of Shares	Exercise Price per Share

 

in each case, together
with the number of Option Shares which Optionee was theretofore entitled to purchase.

 

4.Additional
Exercise Periods. In the event of the death of the Optionee, or if the Optionee’s employment or relationship with the
Company or its subsidiaries is terminated for any reason, the option granted hereunder may be exercised as set forth in the Plan.

 

5.Method of
Exercise. In order to exercise the options granted hereunder, Optionee must give written notice to the Chief Financial Officer
of the Company at the Company’s principal place of business, accompanied by full payment of the exercise price for the Option
Shares being purchased, in accordance with the terms and provisions of the Plan.

 

6.Manner
of Payment. An Optionee may pay the option price for Shares purchased upon exercise of the option as set forth in the Plan.

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the date first above written.

 

	witness/attest:	 	JANEL WORLD TRADE, LTD.	 
	 	 	 	 	 
	 	 	By:	 	 
	 	 	 	 	 
	 	 	Optionee

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