Document:

Prepared by R.R. Donnelley Financial -- EX-10.17

 Exhibit 10.17 
  

 
 Marcus & Millichap, Inc. 

23975 Park Sorrento, Suite 400 

Calabasas, California 91302 
 (818)
212-2250 
 MARCH 19, 2014 

AMENDMENT TO EXHIBIT A to EMPLOYMENT AGREEMENT DATED JULY 1, 2010 
  

	 	1.	Base Salary: Effective January 1, 2014, $56,666.66 per month. 

  

	 	2.	Annual Discretionary Incentive: Subject to the Employee’s continued employment through the incentive payment date, Employee will be eligible to earn an annual discretionary incentive for the entire fiscal
year of up to 2% of Marcus & Millichap Inc.’s (the “Company”) fiscal year pretax net income; provided, however, that any such incentive shall not exceed $2,720,000 (which currently is four times the amount of the
Employee’s base salary). Employee’s eligibility for such incentive, as well as the actual amount of any such incentive, will be determined by the Company’s Compensation Committee of the Board of Directors (the “Committee”),
in its sole discretion, based upon various objective and subjective factors approved by the Committee. To the extent earned (which requires that the Employee be employed by the Company on the incentive payment date), any annual incentive will be
paid to Employee on or before the 60th day following the end of the fiscal year for which the incentive is earned, and will be subject to applicable withholding taxes. In the event that the Employee’s employment terminates for any reason prior
to the annual discretionary incentive payment date, Employee will not earn, in whole or in part, any incentive or bonus described herein. 

  

	 	3.	Reference to the Company in the Employment Agreement dated July 10, 2010 shall mean Marcus & Millichap, Inc., a Delaware corporation and all of its subsidiaries, including Marcus & Millichap Real
Estate Investment Services, Inc., a California corporation. 

  

	 	4.	Unless otherwise expressly set forth herein, all terms and conditions in the Employment Agreement shall remain without modification. In the event of an express conflict between this Amendment and the Employment
Agreement, this Amendment shall govern. 

 Agreed: 
  

					
			
	/s/ John J. Kerin	 		 	/s/ George M. Marcus
	John J. Kerin	 		 	 Marcus & Millichap, Inc.
 By: Its
Chairman, George M. Marcusclth_ex1032.htm

Exhibit 10.32

 

AMENDMENT No. 10 TO PROMISSORY NOTE

 

 

This Amendment No. 10 to the Promissory Note, originally dated September 1, 2010 (the “Note”), previously amended February 11, 2011, May 31, 2011, July 29, 2011, November 7, 2011, March 27, 2012, July 31, 2012, November 1, 2012, January 9, 2013, and May 8, 2013 (the “Amendments”), is entered into as of the 21st day of March, 2014, by and between CMS Acquisition, LLC (“CMS”) and CleanTech Biofuels, Inc. (“CTB”).

WHEREAS, the Note is secured by the CTB owned U.S. Patent No. 6,306,248 pursuant to a Security Agreement dated as of September 1, 2010, between CMS and CTB (the “Security Agreement”);

 

WHEREAS, a payment of $25,000 was made on February 11, 2011 for interest to date and principal, by CTB on the Note;

 

WHEREAS, as of May 16, 2011, the rate to accrue interest increased to 10.0% per annum (from 9.0% per annum);

 

 WHEREAS, as of November 7, 2011, Warrant (A1) issued with the original Note on September 1, 2010 was re-dated to November 7, 2011;

 

WHEREAS, as of May 8, 2013, CTB issued an additional warrant (A2) for 150,000 shares of CTB’s common stock, par value $0.001 (“common stock”), with an exercise price of $0.05 and an expiration date of May 8, 2018, and re-dated the original warrant (A1) to May 8, 2013; and

 

WHEREAS, the parties wish to amend the terms of the Note as set forth below.

 

NOW THEREFORE, the parties hereto agree as follows:

 

	
1.  

	
The Maturity Date, as defined in the Amendments, shall be changed to March 1, 2015 from March 8, 2014.

 

	
2.  

	
Warrant (A1) issued with the original Note on September 1, 2010 and Warrant (A2) issued with Amendment No. 9 are re-dated as of the date of this amendment – March 21, 2014.

 

	
3.  

	
An additional Warrant (A3) will be issued as of March 21, 2014 for 150,000 shares of common stock with an exercise price of $0.05 and an expiration date of March 21, 2019.

 

	
4.  

	
All remaining terms and conditions of the Note, Security Agreement and Warrants A1 and A2 shall continue in full force and effect.

 

IN WITNESS WHEREOF, CTB and CMS have caused this Amendment No. 10 to the Note to be executed and delivered by their duly authorized officers as of the day and year set forth above.

 

	 	 	 
	 	 	 	 
	
 
CLEANTECH BIOFUELS, INC.:

	
By: 

	 	 
	 	 	 
Name: Edward P. Hennessey

	 
	 	 	 
Title: CEO

	 
	 	 	 	 

 

	 	 	 	 
	
 
CMS Acquisition, LLC:

	
By: 

	 	 
	 	 	Name: 	 
	 	 	Title:fie_ex41.htm

 

Exhibit 4.1

 

12% PROMISSORY NOTE

 

 

$50,000                                                                                                            Fairfield, Connecticut

 

 

                                                                    March 29, 2012

 

 

 

 

This Promissory Note (the "NOTE") is made and executed as of the date referred to above, by and between Ontarget Staffing Inc, a Delaware corporation (the "BORROWER"), and Lend America Inc ("LENDER").   By this Note, the Borrower promises and agrees to pay to the order of Lender, the principal sum of Fifty Thousand and 00/100 Dollars ($50,000.00), or the aggregate unpaid principal amount of all advances made by Lender to Borrower pursuant to the terms of a Revolving Line of Credit Agreement (the "LOAN AGREEMENT") of even date herewith, whichever is less, together with interest thereon from the date each advance is made until paid in full, both before and after judgment, at the rate of twelve percent (12%) per annum, simple interest.

 

 The entire unpaid principal balance, together with any accrued interest and other unpaid charges or fees hereunder, shall be due and payable on September 30, 2014 (the "MATURITY DATE").

 

Prepayment in whole or part may occur at any time hereunder without penalty; provided that the Lender shall be provided with not less than ten (10) days notice of the Borrower's intent to pre-pay; and provided further that any such partial prepayment shall not operate to postpone or suspend the obligation to make, and shall not have the effect of altering the time for payment of the remaining balance of the Note as provided for above, unless and until the entire obligation is paid in full. All payments received hereunder shall be applied, first, to any costs or expenses incurred by Lender in collecting such payment or to any other unpaid charges or expenses due hereunder; second, to accrued interest; and third, to principal.

 

An event of default will occur if any of the following events occurs: (a) failure to pay any principal or interest hereunder within ten (10) days after the same becomes due; (b) if any representation or warranty made by Borrower in the Loan Agreement or in connection with any borrowing or request for an advance thereunder, or in any certificate, financial statement, or other statement furnished by Borrower to Lender is untrue in any material respect at the time when made; (c) default by Borrower in the observance or performance of any other covenant or agreement contained in the Loan Agreement, other than a default constituting a separate and distinct event of default under Paragraph 7 of the Loan Agreement; (d) filing by Borrower of a voluntary petition in bankruptcy seeking reorganization, arrangement or readjustment of debts, or any other relief under the Bankruptcy Code as amended or under any other insolvency act or law, state or federal, now or hereafter existing; or (e) filing of an involuntary petition against Borrower in bankruptcy seeking reorganization, arrangement or readjustment of debts, or any other relief under the Bankruptcy Code as amended, or under any other insolvency act or law, state or federal, now or hereafter existing, and the continuance thereof for sixty (60) days undismissed, unbonded, or undischarged.

 

Any notice or demand to be given to the parties hereunder shall be deemed to have been given to and received by them and shall be effective when personally delivered or when deposited in the U.S. mail, certified or registered mail, return receipt requested, postage prepaid, and addressed to the party a this or its last known address, or at such other address as the one of the parties may hereafter designate in writing to the other party.

 

The Borrower hereof waives presentment for payment, protest, demand, notice of protest, notice of dishonor, and notice of nonpayment, and expressly agrees that this Note, or any payment hereunder, may be extended from time to time by the Lender without in any way affecting its liability hereunder.

 

In the event any payment under this Note is not made at the time and in the manner required, the Borrower agrees to pay any and all costs and expenses which may be incurred by the Lender hereof in connection with the enforcement of any of its rights under this Note or under any such other instrument, including court costs and reasonable attorneys' fees.

 

This Note shall be governed by and construed and enforced in accordance with the laws of Connecticut.

 

The Borrower:               Ontarget Staffing Inc.

 

 

/s/ Mary Ellen Schloth

------------------------------

Name:  Mary Ellen Schloth

Title:  CEO

Lender:                          Lend America Inc.

                                       /s/ Mary Ellen Schloth

                                       ------------------------------

                                       Name:  Mary Ellen Schloth

Title:  CEOfie_ex101.htm

 

Exhibit 10.1 – Agreement with Ocean Cross Business Solutions Group LLC

July 1, 2013

Fragmented Industry Exchange Inc

80 Mountain Laurel Rd

Fairfield CT 06824

Attn:   Mary Ellen Schloth, CEO

This letter is to confirm Ocean Cross Business Solutions Group LLC (the “Consultant”) terms and conditions (the “Agreement”) in providing business services (“Services”) to Fragmented Industry Exchange Inc (the “Client”):

Client Name and Address:                                 Fragmented Industry Exchange Inc (the “Client”)

Client Contact:                                                    William Schloth

	
Assignment Description:

	
Complete the Clients S1 filing, corporate governance other accounting, finance and general management

	
Assignment Length:

	
Until terminated as provided below.

Consultant Assigned:                                         William Schloth

Project Start Date:                                              Date first written above

	
Cash Compensation:

	
$5,000 per month

	
Billing Type:

	
By invoice, payable upon receipt.

Independent Contractor Relationship.   Nothing herein or as per contract otherwise signed shall be construed to create the relationship of employer and employee between the Company and Consultant.    Consultant recognizes, understands and agrees that as an independent contractor, (1) Consultant is not entitled to unemployment insurance benefits; (2) Consultant is not entitled to workers compensation benefits; and (3) Consultant is obligated to file federal and state income tax reports on any monies paid pursuant this arrangement.   Please complete the attached W-9 for our files and properly filing requirements.

 

Authority.  Consultant will have no authority whatsoever to assume or create any obligation, liability, or undertake and responsibility whatsoever, express or implied on behalf of or in the name of the Company or any affiliate.

 

Confidential Information and Other Restrictions.    Either during or after the term of Consultant’s working relationship with the Company, Consultant agrees not communicate, disclose, or utilize to Consultant’s own benefit or the benefit of any other entity or persons, any techniques, plans, designs, programs, customer information or other information not in the public domain pertaining to the business or affairs of the Company or of any of its affiliates.    Information shall not be considered to be in the public domain if revealed or disclosed in contravention of this Agreement or the agreements made between the Company and other parties except in accordance with the Company’s privacy notice provisions and in furtherance of Consultant’s business; and

 

Upon termination of Consultant’s working relationship with the Company, Consultant agrees to immediately surrender to the Company all originals, software, or computer systems programs, and copies any other documents and material received by Consultant while retained.   Consultant shall not retain or deliver to any other entity or person any of the foregoing or a summary or memorandum thereof.

 

Indemnification.  Consultant agrees to indemnify and hold harmless the Company and its personnel and any affiliate of Company from and against any and all actions, losses, damages, claims, liabilities, costs and expenses (including without limitation, reasonable legal fees and expenses) except for situations arising out of gross negligence on behalf of the Company or any other person employed by Company, arising in any way out of or relating to this Rider.    The provision of this paragraph shall apply regardless of the form of action, loss, damage, claim, liability, cost, or expense, whether in contract, statute, tort (including without limitation, negligence), or otherwise.   The provisions of this paragraph shall survive the completion or termination of Consultant’s relationship with the Company.

 

 

  

  

  

Applicable Law.   This Agreement shall be governed by and construed in accordance with the laws of the State of Connecticut.

 

Invalidity.   Except as otherwise specified herein, the invalidity or unenforceability of any term or terms of this agreement shall not invalidate, make unenforceable or otherwise affect any other term of this agreement which shall remain in full force and effect.

 

Waiver.   No waiver of any breach of any agreement or provision herein contained shall be deemed a waiver of any preceding or succeeding breach thereof or of any other agreement or provision herein contained. No extension of time for performance of any obligations or acts shall be deemed an extension of time for performance of any other obligations or acts.

This Agreement may be terminated by the Consultant or the Client at anytime.

If the forgoing is in accordance with your understanding please sign and return the duplicate of this letter.    Thank you for the opportunity to provide services.

Agreed and Accepted:

Ocean Cross Business Solutions Group llc                                            Fragmented Industry Exchange Inc

By: //William E Schloth/                                                                            By:  //Mary Ellen Schloth/

William E. Schloth, CEO                                                                           Title: Chief Executive Officer

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