Document:

EX-10.6

 Exhibit 10.6 

DOLE FOOD COMPANY, INC. 

GRANT NOTICE FOR 2017 STOCK INCENTIVE PLAN 

RESTRICTED STOCK 
 FOR GOOD AND VALUABLE
CONSIDERATION, Dole Food Company, Inc. (the “Company”), hereby grants to Participant named below the number of restricted shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”) specified below
(the “Award”), upon the terms and subject to the conditions set forth in this Grant Notice, the Dole Food Company, Inc. 2017 Stock Incentive Plan (the “Plan”) and the Standard Terms and Conditions (the “Standard Terms and
Conditions”) adopted under such Plan and provided to Participant, each as amended from time to time. This Award is granted pursuant to the Plan and is subject to and qualified in its entirety by the Standard Terms and Conditions. 

 

			
	 Name of Participant:
	  	
		
	 Grant Date:
	  	
		
	 Number of shares of restricted stock:
	  	
		
	 Vesting Schedule:
	  	

 By accepting this Grant Notice, Participant acknowledges that he or she has received and read, and agrees that this Award
shall be subject to, the terms of this Grant Notice, the Plan and the Standard Terms and Conditions. 
  

			
	DOLE FOOD COMPANY, INC.	  	  

		  	Participant Signature
	By                                      
                                         
                                         
   	  	
	Title:                                     
                                         
                                        	  	Address (please print):
		  	  

		  	  

		  	  

  

 DOLE FOOD COMPANY, INC. 

STANDARD TERMS AND CONDITIONS FOR 

RESTRICTED STOCK 
 These Standard Terms and
Conditions apply to awards of restricted stock granted pursuant to the Dole Food Company, Inc. 2017 Stock Incentive Plan (the “Plan”), which are evidenced by a Grant Notice or an action of the Committee that specifically refers to these
Standard Terms and Conditions. In addition to these Standard Terms and Conditions, the restricted stock shall be subject to the terms of the Plan, which are incorporated into these Standard Terms and Conditions by this reference. Capitalized terms
not otherwise defined herein shall have the meaning set forth in the Plan. 
  

	1.	TERMS OF RESTRICTED STOCK 

 Dole Food Company, Inc., a North Carolina corporation (the
“Company”), has granted to the Participant named in the Grant Notice provided to said Participant herewith (the “Grant Notice”) an award of a number of restricted shares (the “Award” or the “Restricted Stock”)
of the Company’s common stock, par value $0.001 per share (the “Common Stock”) specified in the Grant Notice. The Award is subject to the conditions set forth in the Grant Notice, these Standard Terms and Conditions, and the Plan,
each as amended from time to time. For purposes of these Standard Terms and Conditions and the Grant Notice, any reference to the Company shall include a reference to any Subsidiary or successor thereto. 

 

	2.	VESTING OF RESTRICTED STOCK 

 The Award shall not be vested as of the Grant Date set
forth in the Grant Notice and shall be forfeitable unless and until otherwise vested pursuant to the terms of the Grant Notice and these Standard Terms and Conditions. After the Grant Date, subject to termination or acceleration as provided in these
Standard Terms and Conditions and the Plan, the Award shall become vested as described in the Grant Notice with respect to that number of shares of Restricted Stock as set forth in the Grant Notice. Shares of Restricted Stock that have vested and
are no longer subject to forfeiture are referred to herein as “Vested Shares.” Shares of Restricted Stock awarded hereunder that are not vested and remain subject to forfeiture are referred to herein as “Unvested Shares.”
Notwithstanding anything contained in these Standard Terms and Conditions to the contrary, upon the Participant’s Termination of Employment for any reason (including by reason of death or Disability), any then Unvested Shares (after taking into
account any accelerated vesting under Section 15 of the Plan or any other agreement between the Participant and the Company, if applicable) held by the Participant shall be forfeited and canceled as of the date of such Termination of
Employment. 
  

	3.	RIGHTS AS STOCKHOLDER 

 From and after the Grant Date, the Participant shall have all of
the ownership, voting rights, dividend rights and all other rights of a stockholder of the Company with respect to the Restricted Stock, except that (i) such rights as to Unvested Shares shall terminate 

 upon the forfeiture of such Unvested Shares as and to the extent specifically provided in
Section 2 above and (ii) dividends payable in cash shall, with respect to any Unvested Shares, be automatically reinvested in additional shares of Common Stock at a purchase price per share equal to the Fair Market Value of a share of
Common Stock on the date such dividend is paid; provided, however that any fractional share shall be rounded up to a whole share. Any additional shares of Common Stock accrued for the Participant through dividends on Unvested Shares, whether through
reinvestment or through a dividend paid in shares of Common Stock, shall be subject to the same restrictions on transferability and risk of forfeiture as the Unvested Shares with respect to which they were distributed. 

 

	4.	RESTRICTIONS ON RESALES OF SHARES 

 The Company may impose such restrictions, conditions
or limitations as it determines appropriate as to the timing and manner of any resales by the Participant or other subsequent transfers by the Participant of any Vested Shares, including without limitation (a) restrictions under an insider
trading policy, (b) restrictions designed to delay and/or coordinate the timing and manner of sales by Participant and other holders and (c) restrictions as to the use of a specified brokerage firm for such resales or other transfers. 

 

	5.	INCOME TAXES 

 To the extent required by, or permitted under, applicable federal, state,
local or foreign law, the Participant shall make arrangements satisfactory to the Company for the satisfaction of any withholding tax obligations that arise by reason of the grant or vesting of the Restricted Stock. The Company shall not be required
to issue shares or to recognize the disposition of such shares until such obligations are satisfied. Unless the Participant pays the withholding tax obligations to the Company by cash or check, withholding may be effected, at the Company’s
option, by withholding Common Stock issuable in connection with the Award (provided that shares of Common Stock may be withheld only to the extent that such withholding will not result in adverse accounting treatment for the Company). The
Participant acknowledges that the Company shall have the right to deduct any taxes required or permitted to be withheld by law in connection with the Award from any amounts payable by it to the Participant (including, without limitation, future cash
wages). 
  

	6.	NON-TRANSFERABILITY OF UNVESTED SHARES 

 The Participant represents and warrants that the
shares of Restricted Stock are being acquired by the Participant solely for the Participant’s own account for investment and not with a view to or for sale in connection with any distribution thereof. The Participant further understands,
acknowledges and agrees that, except as otherwise provided in the Plan or as permitted by the Committee, the Unvested Shares may not be sold, assigned, transferred, pledged or otherwise directly or indirectly encumbered or disposed of other than by
will or the laws of descent and distribution. 

  
 3 

	7.	OTHER AGREEMENTS SUPERSEDED 

 The Grant Notice, these Standard Terms and Conditions and
the Plan constitute the entire understanding between the Participant and the Company regarding the Restricted Stock. Any prior agreements, commitments or negotiations concerning the Restricted Stock are superseded. 

 

	8.	LIMITATION OF INTEREST IN SHARES SUBJECT TO RESTRICTED STOCK 

 Neither the Participant
(individually or as a member of a group) nor any beneficiary or other person claiming under or through the Participant shall have any right, title, interest, or privilege in or to any shares of Common Stock allocated or reserved for the purpose of
the Plan or subject to the Grant Notice or these Standard Terms and Conditions except as to such shares of Common Stock, if any, as shall have been issued to such person in connection with the Award. Nothing in the Plan, in the Grant Notice, these
Standard Terms and Conditions or any other instrument executed pursuant to the Plan shall confer upon the Participant any right to continue in the Company’s employ or service nor limit in any way the Company’s right to terminate the
Participant’s employment at any time for any reason. 
  

	9.	GENERAL 

 (a) In the event that any provision of these Standard Terms and Conditions is
declared to be illegal, invalid or otherwise unenforceable by a court of competent jurisdiction, such provision shall be reformed, if possible, to the extent necessary to render it legal, valid and enforceable, or otherwise deleted, and the
remainder of these Standard Terms and Conditions shall not be affected except to the extent necessary to reform or delete such illegal, invalid or unenforceable provision. 

(b) The headings preceding the text of the sections hereof are inserted solely for convenience of reference, and shall not constitute a part of
these Standard Terms and Conditions, nor shall they affect its meaning, construction or effect. 
 (c) These Standard Terms and Conditions
shall inure to the benefit of and be binding upon the parties hereto and their respective permitted heirs, beneficiaries, successors and assigns. 

(d) These Standard Terms and Conditions shall be interpreted and construed in accordance with applicable federal law and the laws of the State
of North Carolina, without regard to principles of conflicts of law. 
 (e) In the event of any conflict between the Grant Notice, these
Standard Terms and Conditions and the Plan, the Grant Notice and these Standard Terms and Conditions shall control. In the event of any conflict between the Grant Notice and these Standard Terms and Conditions, the Grant Notice shall control. 

(f) All questions arising under the Plan or under these Standard Terms and Conditions shall be decided by the Committee in its total and
absolute discretion. 

  
 4 

	10.	ELECTRONIC DELIVERY 

 By executing the Grant Notice, the Participant hereby consents to
the delivery of information (including, without limitation, information required to be delivered to the Participant pursuant to applicable securities laws) regarding the Company and its Subsidiaries, the Plan, and the Restricted Stock via Company
web site or other electronic delivery. 

  
 5BRIDGE
LOAN AGREEMENT

 

THIS
BRIDGE LOAN AGREEMENT (hereinafter the “Agreement”), is entered into on the date set forth below by and between
Houston American Energy Corp., a Delaware corporation (the “Borrower”), and the lenders whose signatures appear
hereon (the “Lender(s)”).

 

WHEREAS,
the Borrower is engaged in oil and gas exploration and is presently participating in the drilling and development of multiple
wells in Reeves County, Texas (the “Reeves County Drilling Program”);

 

WHEREAS,
the Borrower is presently engaged in efforts to secure additional equity capital or debt financing (all sales, for cash, of equity
or debt securities – excluding the Bridge Loan Notes issued pursuant to this Agreement – of the Borrower from and
after the date hereof until the Bridge Loans made hereunder are paid in full, being referred to as the “Funding Program”)
to support the Reeves County Drilling Program;

 

WHEREAS,
pending the receipt of funding from the Funding Program, the Borrower desires to borrow, and the Lenders are willing to lend,
up to $600,000 (the “Bridge Loan”) to support the Reeves County Drilling Program; and

 

WHEREAS,
as consideration for making the Bridge Loan, the Borrower has agreed to issue to the Lenders senior unsecured promissory notes
(the “Bridge Loan Note”), in the form attached hereto as Exhibit A, and warrants (the “Warrant”),
in the form attached hereto as Exhibit B.

 

NOW,
THEREFORE, in consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration
the receipt and adequacy of which are hereby acknowledged, the Borrower and Lenders agree as follows:

 

1. Bridge
Loan Notes and Warrants. The Borrower agrees to issue to the Lenders (a) Bridge Loan Notes in the amount set forth on the
signature page hereof, in an aggregate amount not to exceed $600,000, the terms of which Bridge Loan Notes are set forth herein
and in the Bridge Loan Note, and (b) Warrants to purchase one share of common stock of the Borrower for each dollar of Bridge
Loan Notes issued, the terms of which Warrants are set forth in Exhibit B.

 

2. Consideration.
As consideration for the issuance of the Bridge Loan Notes and Warrants, the Lenders shall pay to the Borrower an amount equal
to 95% of the face amounts of the Bridge Loan Notes issued to said Lenders.

 

3. Interest.
The unpaid principal amount of the Bridge Loan shall bear interest until paid at an interest rate per annum (the “Applicable
Rate”) of twelve percent (12%); provided, however, that so long as an Event of Default has occurred and is continuing,
the Applicable Rate shall be the lesser of eighteen percent (18%) per annum or the maximum rate permissible under applicable law.
Interest on the unpaid principal amount of the Bridge Loan shall accrue from and including the date funds are advanced but not
including the date such Bridge Loan is paid. Interest shall be calculated on the basis of a year consisting of 365 days and paid
for actual days elapsed.

 

    	Bridge Loan Agreement (2017)
	Page 1 of 6	 

    	 

    

 

4. Payments.
Subject to the provisions of Sections 5 and 6 below, the Bridge Loans, including interest accrued thereon, shall be repayable
by the Borrower:

 

(a) in
monthly installments of interest only payable on the last day of each calendar month so long as the Bridge Loan remains outstanding;
and

 

(b) any
unpaid principal and accrued interest on the Bridge Loan shall be payable in full one hundred twenty (120) calendar days following
the date of the applicable Bridge Loan Note (the “Maturity Date”).

 

All
payments shall be applied first to expenses, if any, of collection, then to accrued and unpaid interest and then to principal.
All payments by the Borrower hereunder shall be made without set-off or counterclaim and shall be made to the Lender at its address
set forth on the signature page, or at such other place as may be designated in writing by the Lender to the Borrower.

 

5. Prepayment.
The Borrower shall, (i) on the last business day of each month so long as amounts remain owing hereunder, prepay the Bridge Loans,
including accrued interest, from and to the extent of one hundred percent (100%) of the net proceeds received by the Borrower
from the Funding Program, and (ii) not later than five (5) business days following the sale (an “Asset Sale”)
by the Borrower of any assets, other than assets sold in the ordinary course of business, prepay the Bridge Loans, including accrued
interest, from and to the extent of one hundred percent (100%) of the net proceeds received by the Borrower from the sale of assets,
and (iii) not later than five (5) business days following the receipt of proceeds (“Oil and Gas Proceeds”)
from sale of oil and gas production arising from the Reeves County Drilling Program, prepay the Bridge Loans, including accrued
interest, from and to the extent of seventy-five percent (75%) of the net Oil and Gas Proceeds received. In addition, the Borrower
may, at its election, repay the Bridge Loan in whole or in part at any time prior to the Maturity Date without premium or penalty.

 

6. Default.
The occurrence of any of the following shall constitute an “Event of Default” under this Agreement and under
the Bridge Loan Notes:

 

(a) The
Borrower shall fail to pay (i) any principal payment owed hereunder on the due date required hereunder, (ii) any interest payment
owed hereunder on the due date required hereunder, or (iii) any other payment required under the terms of this Agreement or the
Bridge Loan Notes on the due date for such payment, and such payment shall not have been made within five (5) days after the Borrower’s
receipt of the Lender’s written notice to the Borrower of such failure to pay (any such event being referred to as a “Payment
Default”); or

 

(b) The
Borrower shall fail to observe or perform any other covenant, obligation, condition or agreement contained in this Agreement or
the Bridge Loan Notes (other than those specified in Section 6(a) of this Agreement) and such failure shall continue for ten (10)
days after written notice thereof is delivered to the Borrower by a holder of the Bridge Loan Note; or

 

    	Bridge Loan Agreement (2017)
	Page 2 of 6	 

    	 

    

 

(c) The
Borrower shall:

 

(i) apply
for or consent to the appointment of a receiver, trustee, liquidator or custodian of itself or of all or a substantial part of
its property;

 

(ii) be
unable, or admit in writing its inability, to pay its debts generally as they mature;

 

(iii) make
a general assignment for the benefit of any of its creditors;

 

(iv) commence
a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under
any bankruptcy, insolvency or other similar law now or hereafter in effect or consent to any such relief or to the appointment
of or taking possession of its property by any official in an involuntary case or other proceeding commenced against it; or

 

(v) take
any action for the purpose of effecting any of the foregoing; or

 

(d) Proceedings
for the appointment of a receiver, trustee, liquidator or custodian of the Borrower or of all or a substantial part of the property
thereof, or an involuntary case or other proceedings seeking liquidation, reorganization or other relief with respect to the Borrower
or the debts thereof under any bankruptcy, insolvency or other similar law now or hereafter in effect, shall be commenced and
an order for relief entered or such proceeding shall not be dismissed or discharged within sixty (60) days after commencement.

 

7. Rights
of Holder Upon Default. Upon the occurrence or existence of any Event of Default (other than an Event of Default under Sections
6(c) or 6(d)) and at any time thereafter during the continuance of such Event of Default, the Lender may, by written notice to
the Borrower, declare all outstanding amounts payable by the Borrower under this Agreement to be immediately due and payable without
presentment, demand, protest, notice of intent to accelerate, or any other notice of any kind, all of which are hereby expressly
waived. Upon the occurrence or existence of any Event of Default described in Sections 6(c) or 6(d) hereof, immediately and without
notice, all outstanding amounts payable by the Borrower under this Agreement and the Bridge Loan Notes shall automatically become
immediately due and payable, without presentment, demand, protest, notice of intent to accelerate, or any other notice of any
kind, all of which are hereby expressly waived, anything contained herein to the contrary notwithstanding. In addition to the
foregoing remedies, upon the occurrence or existence of any Event of Default, the Lender may exercise any other right, power or
remedy permitted to it by the UCC, or otherwise available at law or in equity or both.

 

8. Representations,
Warranties and Covenants of the Borrower. The Borrower hereby represents, warrants and covenants to the Lender that:

 

(a) Authorization.
The Borrower has full power and authority to enter into this Agreement and such Agreement constitutes a valid and legally binding
obligation of the Borrower enforceable in accordance with its terms.

 

    	Bridge Loan Agreement (2017)
	Page 3 of 6	 

    	 

    

 

(b) Use
of Proceeds. The proceeds of the Bridge Loan shall be used to support the Reeves County Drilling Program and general working
capital needs of the Borrower and no payments will be made to repay indebtedness owed to affiliates of the Borrower unless and
until the Bridge Loan Notes have been repaid in full.

 

(c) Prepayment
Notices. Within two (2) business days following receipt by the Borrower, on or after the date hereof, of net funds from (i)
the Funding Program, (ii) an Asset Sale, or (iii) Oil and Gas Proceeds; the Borrower shall provide written notice to the holders
of the Bridge Loan Notes with respect to the receipt of such funds.

 

(d) No
Senior or Parity Debt. So long as any amounts remain outstanding and owing under the Bridge Loan Notes, without the prior
written consent of holders of a majority in total principal amount then owing under the Bridge Loan Notes (the “Majority
Holders”), the Borrower will not create, incur, assume or permit to exist any indebtedness which is not expressly and
fully subordinated to the Bridge Loan Notes and does not contain subordination terms that are reasonably satisfactory to the Majority
Holders.

 

(e) Negative
Pledge. So long as any amounts remain outstanding and owing under the Bridge Loan Notes, without the prior written consent
of the Majority Holders, the Borrower will not create, incur, assume or suffer to exist any liens upon or with respect to any
assets now owned or hereafter acquired by it or on any of its rights in respect thereof, except for:

 

(i) liens
existing as of the date hereof;

 

(ii) liens
incurred in the ordinary conduct of the business of the Borrower and its subsidiaries or the ownership of their respective assets;
and

 

(iii) liens
for taxes, assessments or governmental charges or levies, or otherwise arising by operation of law, which taxes, assessments or
governmental charges or levies are not yet due and payable or which are being contested in good faith by appropriate proceedings.

 

9. Representations,
Warranties and Covenants of the Lender. The Lender hereby represents, warrants and covenants to the Borrower that:

 

(a) Authorization.
The Lender has full power and authority to enter into this Agreement and such Agreement constitutes a valid and legally binding
obligation of the Lender enforceable in accordance with its terms.

 

(b) Purchase
Entirely for Own Account. This Agreement is made with the Lender in reliance upon the Lender’s representation to the
Borrower, which by the Lender’s execution of this Agreement the Lender hereby confirms, that the Bridge Loan Note and Warrant
will be acquired for investment for the Lender’s own account, not as a nominee or agent, and not with a view to the resale
or distribution of any part thereof, and that the Lender has no present intention of selling, granting any participation in, or
otherwise distributing the same. By executing this Agreement, the Lender further represents that the Lender does not have any
contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to
any third person, with respect to the Bridge Loan Note or Warrant.

 

    	Bridge Loan Agreement (2017)
	Page 4 of 6	 

    	 

    

 

(c) Disclosure
of Information. The Lender has received such information regarding the Borrower and the Bridge Loan Notes and Warrant as the
Lender shall have requested and believes it has received all the information considered by the Lender as being necessary or appropriate
for deciding whether to enter into the transaction contemplated hereby. The Lender further represents that it has had an opportunity
to ask questions and receive answers from the Borrower regarding the terms and conditions of the transactions contemplated hereby
and the business, properties and financial condition of the Borrower.

 

(d) Investment
Experience. The Lender acknowledges that it is able to fend for itself, can bear the economic risk of the transactions contemplated
herein, and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and
risks of the transaction contemplated herein.

 

(e) Accredited
Investor. The Lender is an “accredited investor” within the meaning of Rule 501 of Regulation D promulgated under
the Securities Act of 1933 (the “Securities Act”), as presently in effect.

 

(f) Restricted
Securities. The Lender understands that the Bridge Loan Notes and Warrants, and shares underlying the Warrants, are characterized
as “restricted securities” under the federal securities laws inasmuch as they are being acquired from the Borrower
in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold
without registration under the Securities Act only in certain limited circumstances. In this connection, the Lender represents
that it is familiar with SEC Rule 144, as presently in effect, and understands the resale limitations imposed thereby and by the
Securities Act.

 

10. Successors
and Assigns. This Agreement shall be binding upon the executors, administrators, heirs, legal representatives, legatees, successors
and assigns of the parties hereto and shall inure to the benefit of the parties and their successors and assigns. This Agreement
shall be governed by and construed in accordance with the laws of the State of Texas.

 

11. Notices.
Any notice required to be given under this Agreement shall be in writing and shall be deemed effective upon personal delivery
or upon deposit in the U.S. mail, registered or certified, postage prepaid and properly addressed to the party entitled to such
notice at the address indicated below such party’s signature line on this Agreement or at such other address as such party
may designate by ten days’ advance written notice under this paragraph to all other parties to this Agreement.

 

12. No
Waiver. The failure of any party hereto in any instance to exercise any rights provided hereby shall not constitute a waiver
of any other rights that may subsequently arise under the provisions of this Agreement or any other agreement between the parties.
No waiver of any breach or condition of this Agreement shall be deemed to be a waiver of any other or subsequent breach or condition,
whether of like or different nature.

 

13. Counterparts.
This Agreement may be executed in counterparts, all of which shall be considered one and the same instrument.

 

[Lender
Signature Pages Follow]

 

    	Bridge Loan Agreement (2017)
	Page 5 of 6	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Bridge Loan Agreement to be duly executed by their respective authorized
signatories as of the date indicated below.

 

	 	HOUSTON
    AMERICAN ENERGY CORP.
	 	 	 
	Dated:
    ______________, 2017	 	 
	 	 	 
	 	By:	 
	 	Name: 	John
    P. Boylan
	 	Title:	President
	 	 	
	 	801
    Travis, Suite 1425
	 	Houston,
    Texas 77002
	 	 
	 	LENDER:
	 	 
	 	 	 
	 	Name:	 
	 	Title:	 
	 	 	                                                               
	 	Address: 
    	
	 	 	
	 	 	
	 	Bridge Loan Amount: $_________________________

 

    	Bridge Loan Agreement (2017)
	Page 6 of 6

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