Document:

cynx_10k-ex1030.htm

Exhibit 10.30

 

 

AMENDMENT NO. 1

TO

CONVERTIBLE PROMISSORY NOTE

 

This Amendment No. 1 to the Convertible Promissory Note (this "Amendment") is executed as of January 6, 2012, by CELLYNX GROUP INC., a Nevada corporation (the "Maker"); and ASHER ENTERPRISES, INC., a Delaware corporation, or its assigns ("Holder") to amend the Convertible Promissory Note dated May 18, 2011 among those parties (the "Note").

 

The Maker and the Holder desire to amend the Note and further agree as follows:

 

1.            Capitalized Terms. Except as expressly provided in this Amendment, all capitalized terms used in this Amendment have meanings ascribed to them in the Note and those definitions are incorporated by reference into this Note.

 

2.            Section 1.2 of the Note shall be deleted and the following shall be substituted therefor:

 

"Conversion Price.

 

Calculation of Conversion Price. The Conversion Price shall be the lesser of: (i) the Variable Conversion Price (as defined herein) and (ii) the Fixed Conversion Price (as defined herein) (subject, in each case, to equitable adjustments for stack splits, stock dividends or rights offerings by the Borrower relating to the Borrower's securities or the securities of any subsidiary of the Borrower, combinations, recapitalization, reclassifications, extraordinary distributions and similar events). The "Variable Conversion Price" shall mean 25% multiplied by the Market Price (as defined herein)(representing a discount rate of 75%). "Market Price" means the average of the lowest three (3) Trading Prices (as defined below) for the Common Stock during the ten (10) Trading Day period ending on the last complete Trading Day prior to the Conversion Date. "Trading Price" means, for any security as of any date, the closing bid price on the Over-the-Counter Bulletin Board, or applicable trading market (the "OTCBB") as reported by a reliable reporting service ("Reporting Service") designated by the Holder (i.e. Bloomberg) or, if the OTCBB is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the "pink sheets" by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Borrower and the holders of a majority in interest of the Notes being converted for which the calculation of the Trading Price is required in order to determine the Conversion Price of such Notes. "Trading Day" shall mean any day on which the Common Stock is tradable for any period on the OTCBB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded. Fixed Conversion shall mean $0.00015

 

 

 

 

 

 

 

 

3.             Counterparts. This Amendment may be executed in any number of counterparts, each of which shall be deemed an original as against the party whose signature appears thereon, and all of which shall together constitute one and the same instrument. This Amendment shall become binding when one or more counterparts hereof, individually or taken together, shall bear the signatures of all the parties reflected hereon as the signatories.

 

4.            Third Parties. Except as specifically set forth or referred to herein, nothing herein express of implied is intended or shall be construed to confer upon or give to any person other than the parties hereto and their permitted successors or assigns, any claims, rights, remedies under or by reason of this Amendment.

 

5.            Governing Law. This Amendment shall be governed and construed in accordance with the laws of the State of New York applicable to agreements made and to be performed entirely within such State and the federal laws of the United States of America, without regard to the conflict of laws rules thereof.

 

IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date set forth above.

 

 

	 	
CELLYNX GROUP, INC.

 

By:  /s/ Norm Collins      

Norm Collins

Chief Executive Officer

 

 

 

ASHER ENTERPRISES, INC.

 

By:  /s/ Curt Kramer                   

Name: Curt Kramer

Title: President

I Linden Pl, Suite 207

Great Neck, NY. 11021exhibit10_16.htm

                                                                         Exhibit 10.16

 

FORM OF

RESTRICTED STOCK AWARD AGREEMENT

(Employee Director (Form 9))

THIS RESTRICTED STOCK AWARD AGREEMENT (the "Agreement") entered into as of the   day of _______, 20__, by and between Urstadt Biddle Properties Inc., a Maryland corporation (the "Company"), and , an individual employed by the Company (the "Participant").

WITNESSETH:

WHEREAS, the Company has adopted, through appropriate action of its Board of Directors, the Urstadt Biddle Properties Inc. Amended and Restated Restricted Stock Award Plan (as amended, the "Plan"); and

WHEREAS, the Company desires to grant a Restricted Stock Award to the Participant under the Plan on the terms and conditions hereinafter set forth; and

WHEREAS, the Participant desires to accept such Restricted Stock Award of the Company subject to the terms and conditions of this Agreement and the Plan;

NOW, THEREFORE, in consideration of the promises and the mutual covenants hereinafter contained, and other good and valuable consideration, receipt of which is hereby acknowledged, the Company and the Participant do mutually covenant and agree as follows:

1.           Grant of Restricted Stock.  Subject to the terms and conditions hereinafter set forth, the Participant is hereby granted a Restricted Stock Award of ___________ (_______) Common Shares, par value $.01 per share, and __________ (_______) Class A Common Shares, par value $.01 per share, of the Company (collectively the "Restricted Stock").

2.           Issuance of Restricted Stock.  The number of shares of Restricted Stock granted under Section 1 hereof shall be recorded on the books of the Company in the name of the Participant.  The Company shall instruct its stock transfer agent to place a stop transfer order on the Restricted Stock until such time as the Restrictions thereon shall lapse.  In the event that the Participant shall forfeit all or any portion of the Restricted Stock, the shares which are forfeited automatically shall be transferred back to the Company.

3.   Vesting.   The Participant shall vest in the Restricted Stock Award granted hereunder, and all Restrictions thereon shall lapse, upon the _____ anniversary [insert a number “fifth” through “tenth”] of the date of grant hereunder if the Participant is still employed by the Company on that date.  Except as provided in Paragraph 4(b) and (c) below, prior to such _____ anniversary, no portion of the Restricted Stock Award shall be vested.

4.           Termination of Employment During the Restricted Period.

In the event that during the term of the Restricted Period the Participant’s status as an employee of the Company terminates:

 

	
(a)  

	
for any reason other than death, Disability or involuntary termination other than “Termination for Cause” (as defined in the Amended and Restated Change of Control Agreement dated December 19, 2007 between the Company and the Participant), the Participant shall forfeit the Restricted Stock evidenced by this Agreement; or,

	
(b)  

	
by reason of death or Disability, the Restrictions on any and all Awards shall lapse on the date of such termination; or

 

	
(c)  

	
by reason of involuntary termination other than Termination for Cause, all Awards shall continue to vest as if involuntary termination had not occurred until such time as the Restrictions lapse; provided, however, that if the Participant, prior to the completion of any or all Restricted Periods, accepts employment or provides services to any organization other than the Company that is engaged primarily in the ownership and/or management or brokerage of shopping centers in The New York – Northern New Jersey – Long Island, NY-NJ-CT-PA, Metropolitan Statistical Area as defined by the Bureau of Labor Statistics, the Participant will forfeit any and all Restricted Stock Awards whose Restrictions have not lapsed.

 

5.           Forfeiture.  All shares of non-vested Restricted Stock shall be automatically forfeited to the Company if the Board of Directors of the Company determines that the Participant has breached a material contract obligation to the Company including, without limitation, material provisions in any employment or confidentiality agreement.

6.           Rights to Dividends.  Subject to the terms and conditions hereof, during the Restricted Period the Participant shall have the right to receive any dividends declared and other distributions paid with respect to the shares of Restricted Stock as such are declared and paid to shareholders with respect to Common Shares and Class A Common Shares of the Company generally.

7.           Withholding Tax Liability.  The Company shall have the right to withhold any income or other taxes due upon transfer of shares to the Participant or the lapse of Restrictions, including the right to withhold shares or sell shares where appropriate.

8.           Transfer Restrictions.  Except as provided by the resolutions adopted by the Compensation Committee of the Board of Directors of the Company on November 6, 2002 (the “Resolutions”), the shares of Restricted Stock may not be transferred, assigned, pledged, hypothecated or otherwise encumbered, and shall not be subject to execution, attachment, garnishment or other similar legal processes.  In the event of a permitted Assignment pursuant to the Resolutions, the Restricted Stock Award shall continue to be subject to all other terms and conditions set forth in this Agreement.  Except as aforesaid, upon any attempt to transfer, assign, pledge, hypothecate or otherwise encumber or dispose of such shares, the shares immediately shall be forfeited to the Company.

9.           Construction; No Contract of Employment.  Nothing contained in this Agreement, nor the granting of the Restricted Stock Award hereunder, shall be construed as giving the Participant or any other person any legal or equitable rights against the Company or any subsidiary or any director, officer, employee or agent thereof, except for those rights as are herein provided.  Under no circumstances shall this Agreement be construed as an express or implied contract of continuing employment for the Participant, nor shall the Restricted Stock Award granted hereunder in any manner obligate the Company, or any subsidiary or affiliate of the Company, to continue the employment of the Participant.

10.           Miscellaneous.  This Agreement is subject to the terms and conditions of the Plan, as the Plan may be from time to time amended.  The provisions of the Plan are incorporated herein by reference, and the capitalized terms used but undefined herein shall have the same meanings as set forth in the Plan.  The Participant acknowledges receipt of a copy of the Plan and agrees to be bound by all the terms and provisions thereof.  Since the Participant has attained the age when he is eligible for Retirement, as defined in the Plan, the parties acknowledge that the provisions of paragraphs three and four above may differ from the Plan, but such provisions reflect the intent of the Compensation Committee administering the Plan.  Except with respect to such paragraphs, any inconsistency between this Agreement and the Plan shall be resolved in favor of the Plan.

URSTADT BIDDLE PROPERTIES INC.

By________________________________

Name:_____________________________                                                                        

Title:_______________________________

PARTICIPANT

___________________________________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00198-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00198-of-00352.parquet"}]]