Document:

alco-ex101_6.htm

Exhibit 10.1

 

INDEPENDENT CONTRACTOR AGREEMENT

This Independent Contractor Agreement (this “Agreement”) is entered into effective as of June 1, 2022 (the “Effective Date”) by and among Alico Inc., a Florida corporation (“Company”) and Richard Rallo (“Contractor”).  

 

Background

 

The parties to this Agreement desire for Company to engage Contractor under the legal relationship of an independent contractor according to the terms and conditions of this Agreement, for the provision of the “Services” as defined herein.  Services are expected to include consulting advice related to his previous responsibilities and duties as Chief Financial Officer of the Company.  The Contractor will receive instructions and requests directly from the Chief Executive Officer at the Company.

 

Now, therefore, in consideration of the mutual premises and covenants contained in this Agreement, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

 

Terms

 

1.Term.  Company agrees to engage Contractor, and Contractor agrees to be so engaged, for a period up to seven (7) months commencing on the Effective Date (the “Term”).  Upon the expiration of the Term, this Agreement shall not renew without the prior written consent of the parties.  

 

2.Compensation.  Contractor shall receive $5,000 per month for all services rendered, which shall be a monthly invoice presented to Alico at the close of each month.  During this term, services under this agreement must be requested by the CEO via email.  Payment shall be made upon receipt once such invoice for services rendered is received by Alico.  Company shall reimburse for pre-approved expenses including travel, mileage and meals incurred while providing services to Company.  Contractor shall not be entitled to any other payments or benefits from Company in compensation for the provision of the Services (as such term is defined herein), however, this contract is designed to maintain a Consulting relationship to ensure Continuous Service as defined in paragraph 3(b) of the Incentive Stock Option Agreement under the Stock Incentive Plan of 2015 executed between the Contractor and the Company on October 11, 2019.

 

3.Independent Contractor Relationship.  It is specifically agreed that the relationship of the parties hereto shall be that of a company and an independent contractor, and not that of an employer-employee.  Therefore, the parties specifically agree that Company shall have the right of control only to the extent of determining the results to be accomplished by Contractor, but not as to the details and means by which those results shall be accomplished.  Contractor is not an employee of Company.  Contractor shall be solely responsible for unemployment compensation contributions, all benefits and any other payroll tax matters as they relate to Contractor.  Contractor shall not be considered an employee of Company for federal income tax purposes.  In the event 

that the Internal Revenue Service does not recognize this Agreement as establishing an independent contractor relationship and assesses a deficiency, penalties or interest against Company, then Contractor agrees to indemnify Company for all such amounts.  Contractor shall assume full and total responsibility for, and legal liability relating to, all taxes which may be owed as a result of its relationship with Company under this Agreement, including, but not limited to, the payment of self-employment taxes, the payment of any federal and state unemployment taxes, the payment of federal and state estimated income taxes due and payable resulting from the compensation earned, and all other income or employment taxes.  Contractor hereby agrees to indemnify, defend and hold harmless Company, from and against any and all claims, losses and damages related, directly or indirectly, to any representation, warranty, action or inaction of Contractor or any of Contractor’s employees or agents.  Company hereby agrees to indemnify, defend and hold harmless Contractor, from and against any and all claims, losses and damages related, directly or indirectly, to any representation, warranty, action or inaction of Company or any of Company’s employees or agents (other than Contractor).

 

4.Confidentiality.  Contractor acknowledges that Company continually obtains and develops valuable proprietary and confidential information (as further defined below, the “Confidential Information”) which are owned solely by Company, even if created by Contractor, and which may become known to Contractor in connection with this Agreement.

 

Contractor acknowledges that all Confidential Information is and shall remain the exclusive property of Company.  By way of illustration, but not limitation, Confidential Information may include photographs, film, slides, prints, digital and electronic media, designs, patents, inventions, trade secrets, technical information, know-how, research and development activities of Company, product and marketing plans, customer and supplier information, and information disclosed to Company or to Contractor by third parties of a proprietary or confidential nature or under an obligation of confidence.  Confidential Information is contained in various media, including without limitation, film, slides, video, digital and electronic media, patent applications, computer programs in object and/or source code, flow charts and other program documentation, manuals, plans, drawings, designs, technical specifications, laboratory notebooks, supplier and customer lists, internal financial data, and other documents and records of Company, whether or not in writing and whether or not labeled or identified as confidential or proprietary.

 

Contractor agrees that she shall not, during the Term and thereafter, publish, disclose, or otherwise make available to any third party any Confidential Information except as expressly authorized in writing by Company.  Contractor agrees that Contractor shall use such Confidential Information only in the performance of his duties for Company and in accordance with any Company policies regarding the protection of Confidential Information.  Contractor agrees not to use such Confidential Information for Contractors’ own benefit or for the benefit of any other person or business entity.

 

Contractor agrees to exercise all reasonable precautions to protect the integrity and confidentiality of Confidential Information in his possession.  Contractor further agrees not to remove any Confidential Information from Company’s premises except to the extent necessary to provide services to Company.  Upon the termination of Contractor’s relationship with Company, 

or at any time upon Company’s request, Contractor shall return immediately to Company any and all materials containing any Confidential Information then in Contractors’ possession or control.

 

Confidential Information shall not include information that (a) is or becomes generally known within Company’s industry through no fault of Contractor; (b) was known to the Contractor at the time it was disclosed as evidenced by Contractor’s written records at the time of disclosure; (c) is lawfully and in good faith made available to Contractor by a third party who did not derive it from Company; or (d) is required to be disclosed by a governmental authority or by order of a court of competent jurisdiction, provided that such disclosure is subject to all applicable governmental or judicial protection available for like material and reasonable advance notice is given to Company.

 

5.Intellectual Property.  Contractor agrees that any works made by Contractor pursuant to the engagement with Company, or that are otherwise created when providing Services, are “works made for hire” and that Company, as the one for whom the works are prepared, shall own all right, title and interest in the works.  Contractor agrees that to the extent that the works are not deemed “works made for hire”, Company shall own all right, title and interest to copyrightable works or any other intellectual property developed or altered by Contractor during, or related to, Contractor’s engagement and does hereby agree to assign and does hereby assign to Company, its successors, assigns, or nominees, all right, title and interest to said intellectual property or any other new developments relating to any subject matter with which Contractor’s work for Company is, or may be, concerned with, whether or not copyrightable or patentable, which Contractor has made, conceived, or hereafter shall make or conceive during Contractor’s engagement or association with Company, whether or not such intellectual property is made or conceived in conjunction with others, and whether or not made or conceived in the course of Contractor’s engagement or association with Company or with the use of Company’s time, materials, or facilities. Contractor further agrees that Contractor will, without charge to Company, execute, acknowledge, assign, and deliver such copyrights, assignments, and any such further material as may be necessary to obtain copyright or patent in any country, and vest title thereto in Company, its successors, assigns, or nominees. 

 

Contractor represents and warrants that the works or other intellectual property will be original, will not infringe upon the rights of any third party, and will not have been previously assigned, licensed or otherwise encumbered.  To the extent that Contractor utilizes third party agents, Contractor will secure the necessary agreements to assign all intellectual property ownership to Company.

 

Contractor further acknowledges that the works created during Contractors’ prior employment with Company were works made for hire and all right, title and interest in such works are owned by Company.

 

6.Specific Performance.  With respect to the covenants and agreements of Contractor set forth in Sections 4 and 5 hereof, the parties agree that a violation of such covenants and agreements will cause irreparable injury to Company for which Company will not have an adequate remedy at law, and that Company shall be entitled, in addition to any other rights and remedies it may have, at law or in equity, to obtain an injunction to restrain Contractor from 

violating, or continuing to violate, such covenants and agreements.  In the event Company does apply for such an injunction, Contractor shall not raise as a defense thereto that Company has an adequate remedy at law.

 

7.Termination.  This Agreement may be terminated by either party with 30 days notice.      

 

8.Miscellaneous.

 

(a)This Agreement shall not be changed, modified or amended except by a writing signed by all parties hereto.  No waiver of any provision of this Agreement shall be valid unless in writing and signed by the party against whom it is sought to be enforced.  The failure of any party at any time to insist upon strict performance of any condition, promise, agreement or understanding set forth in this Agreement shall not be construed as a waiver or relinquishment of the right to insist upon strict performance of the same condition, promise, agreement or understanding at a future time.

 

(b)This Agreement shall be binding upon, and inure to the benefit of, the parties hereto and their respective heirs, executors, legal representatives, successors and permitted assigns.  This Agreement may not be assigned by any party hereto. Notwithstanding the foregoing, Company may, without the consent of any other party hereto, assign its rights under this Agreement to any lender of Company, if required by the lender; provided, however, that such assignee shall remain subject to the terms and conditions of this Agreement.  Any assignment in violation of this Agreement shall be void.  

 

(c)If any provision of this Agreement or the application of any provision hereof to any person or circumstance is held invalid, the remainder of this Agreement and the application of such provision to other persons or circumstances shall not be affected unless the invalid provision substantially impairs the benefits of the remaining portions of this Agreement.

 

(d)The parties agree that the exclusive jurisdiction and venue of any lawsuit between them arising under this Agreement or the transactions contemplated herein shall be the state courts sitting in Florida and each of the parties hereby irrevocably agrees and submits itself to the exclusive jurisdiction and venue of such courts for the purposes of such lawsuit.  The laws of Florida shall govern this Agreement.  

(e)The headings of the sections hereof are inserted for convenience only and in no way define, limit or prescribe the intent of this Agreement.

(f)This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

(g)The parties agree that this Agreement has been prepared as a result of their mutual arms-length negotiation and the Agreement shall, not, in any respect, be interpreted against either party as the purported drafter thereof.  

 

 

(i)In the event it should become necessary for any party to retain the services of an attorney to enforce any provision of the Agreement, the non-prevailing party agrees to pay to the prevailing party the costs of any legal proceedings and reasonable attorney and paralegal fees, including any attorney and paralegal fees and costs incurred as a result of an appellate proceeding. The amount owed will be capped at the total amount paid by the Company to the Contractor regardless of total legal costs.  

 

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

 

		
	
 
	
 

	
Contractor:
	
Company:

	
 
	
 

	
Richard Rallo
	
ALICO, INC.

	
/s/ Richard Rallo
	
/s/ John E. Kiernan

	
Date: June 1, 2022
	
By: John. E Kiernan

	
 
	
Its: President and CEO

	
 
	
Date:  June 1, 2022EX-10.2

 Exhibit 10.2 

THIS PROMISSORY NOTE (THIS “NOTE”) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THIS
NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO
THE MAKER THAT SUCH REGISTRATION IS NOT REQUIRED. 
 PROMISSORY NOTE 

 

			
	Principal Amount: Up to $300,000	  	Dated as of October 1, 2021

 Noble Education Acquisition Corp., a Delaware corporation (the “Maker”), promises to pay to the order of
Noble Education Sponsor LLC, a Delaware limited liability company, or its registered assigns or successors in interest (the “Payee”), or order, the principal sum of Three Hundred Thousand Dollars ($300,000), or such lesser amount as
shall have been advanced by Payee to Maker and shall remain unpaid under this Note, in lawful money of the United States of America, on the terms and conditions described below. All payments on this Note shall be made by check or wire transfer of
immediately available funds or as otherwise determined by the Maker to such account as the Payee may from time to time designate by written notice in accordance with the provisions of this Note. 

1.    Principal. The principal balance of this Promissory Note (this “Note”) shall be payable promptly
after earlier to occur of the date on which the Maker consummates an initial public offering of its securities (the “IPO”) or the date on which Maker determines not to conduct an initial public offering of its securities. The
principal balance may be prepaid at any time. 
 2.    Interest. No interest shall accrue on the unpaid principal balance
of this Note. 
 3.    Drawdown Requests. The principal of this Note may be drawn down from time to time prior to the
earlier of: (i) the date on which Maker consummates the IPO and (ii) the date on which Maker determines not to conduct an initial public offering of its securities, upon request from Maker to Payee (each, a “Drawdown
Request”). Payee shall fund each Drawdown Request within five (5) business days after receipt of a Drawdown Request; provided, however, that the maximum amount of drawdowns collectively under this Note is Three Hundred Thousand
Dollars ($300,000). Once an amount is drawn down under this Note, it shall not be available for future Drawdown Requests even if prepaid. No fees, payments or other amounts shall be due to Payee in connection with, or as a result of, any Drawdown
Request by Maker. 
 4.    Application of Payments. All payments shall be applied first to payment in full of any costs
incurred in the collection of any sum due under this Note, including (without limitation) reasonable attorney’s fees, then to the payment in full of any late charges and finally to the reduction of the unpaid principal balance of this Note.

 5.    Events of Default. The following shall constitute an event of default (“Event of Default”): 

(a)    Failure to Make Required Payments. Failure by Maker to pay the principal amount due pursuant to this Note
within five (5) business days of the date specified in Section 1 above. 

(b)    Voluntary Bankruptcy, Etc. The commencement by Maker of a voluntary case under any applicable bankruptcy,
insolvency, reorganization, rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar official) of Maker or for any
substantial part of its property, or the making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate action by Maker in furtherance of any of
the foregoing. 

 (c)    Involuntary Bankruptcy, Etc. The entry of a decree or
order for relief by a court having jurisdiction in the premises in respect of Maker in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian, trustee,
sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and
in effect for a period of 60 consecutive days. 
 6.    Remedies. 

(a)    Upon the occurrence of an Event of Default specified in Section 5(a) hereof, Payee may, by
written notice to Maker, declare this Note to be due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable thereunder, shall become immediately due and payable without presentment, demand, protest
or other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding. 

(b)    Upon the occurrence of an Event of Default specified in Sections 5(b) or 5(c), the unpaid principal
balance of this Note, and all other sums payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without any action on the part of Payee. 

7.    Waivers. Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand,
notice of dishonor, protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any
present or future laws exempting any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution, or providing for any stay of execution, exemption from civil
process, or extension of time for payment; and Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution issued hereon, may be sold upon any such writ in whole or in part in
any order desired by Payee. 
 8.    Unconditional Liability. Maker hereby waives all notices in connection with the
delivery, acceptance, performance, default, or enforcement of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party, and shall not be affected in any manner by any
indulgence, extension of time, renewal, waiver or modification granted or consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee with respect to the payment or other
provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become parties hereto without notice to Maker or affecting Maker’s liability hereunder. 

9.    Notices. All notices, statements or other documents which are required or contemplated by this Agreement shall be in
writing and delivered: (i) personally or sent by first class registered or certified mail, overnight courier service to the address designated in writing by such party, (ii) by facsimile to the number most recently provided to such party
or such other address or fax number as may be designated in writing by such party or (iii) by electronic mail, to the electronic mail address most recently provided to such party or such other electronic mail address as may be designated in
writing by such party. Any notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business day following receipt of written confirmation, if sent by facsimile or
electronic mail, one (1) business day after delivery to an overnight courier service or five (5) days after mailing if sent by mail. 

10.    Construction. THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO
CONFLICT OF LAW PROVISIONS THEREOF. 

 11.    Severability. Any provision contained in this Note which is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability
in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 12.    Trust
Waiver. Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right, title, interest or claim of any kind (“Claim”) in or to any distribution of or from the trust account to be established in which
the proceeds of the IPO and the proceeds of the sale of the units issued in private placements to occur prior to the consummation of the IPO are to be deposited, as described in greater detail in the registration statement and prospectus to be filed
with the Securities and Exchange Commission in connection with the IPO, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the trust account for any reason whatsoever. 

13.    Amendment; Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the
written consent of the Maker and the Payee. 
 14.    Assignment. No assignment or transfer of this Note or any rights or
obligations hereunder may be made by any party hereto (by operation of law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required consent shall be void. 

[Signature Page Follows] 

 IN WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note
to be duly executed by the undersigned as of the day and year first above written. 
 NOBLE EDUCATION ACQUISITION CORP. 

 

			
	By:	 	 /s/ David Noble

	Name:	 	David Noble
	Title:	 	Chief Executive Officer

 [Signature Page to Promissory Note]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00345-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00345-of-00352.parquet"}]]