Document:

ex-4.1

 EXHIBIT 4.1
 

 ROSS MILLER
 Secretary of State
 204 North Carson Street, Suite 1
 Carson city, Nevada 89701-4520
 (775) 684-5708
 Website: www.nvsos.gov
 

  	 	 	
	  
	  
	  

	  

	  

 

 	
	 Amendment to
 Certificate of Designation
 After Issuance of Class or Series
 (PURSUANT TO NRS 78.1955)

 

 Certificate of Amendment to Certificate of Designation
 For Nevada Profit Corporations
 (Pursuant to NRS 78.1955 - After Issuance of Class or Series)
 

 1. Name of corporation
 

 Blue Earth, Inc.
 

 

 2. Stockholder approval pursuant to statute has been obtained.
 

 

 3. The class or series of stock being amended:
 

 Series D Preferred Stock
 

 

 4. By a resolution adopted by the board of directors, the certificate of designation is being amended as follows or the new class or series is:
 

 Section 2(g) is hereby amended by deleting the last sentence and replacing it with the following:
 "Notwithstanding the foregoing, under no circumstances shall the Corporation effect a conversion of Series D Preferred Stock into Common Stock or issue Common Stock as payment of the Obligations under the Credit Agreement, (i) in excess of 2,500,000 shares of Common Stock without first obtaining stockholder approval; or (ii) in excess of any of the restrictions contained in the Series D Lock Up Agreement."
 

 

 5. Effective date of filing (optional)  
 

 

 4. Signature (required)
 

 /s/ John Francis, Corporate Secretaryex-10.1

 EXHIBIT 10.1
 

 GLOBAL AMENDMENT
 TO THE 
 JACKSON INVESTMENT GROUP 
 LOAN DOCUMENTS
 

 AMENDMENT NO. 1, dated as of May 13, 2015 (“Amendment No. 1”) to (i) that certain Note and Warrant Purchase Agreement, dated as of March 10, 2015 (the “NWPA”), by and between Blue Earth, Inc., a Nevada corporation (the “Borrower”) and Jackson Investment Group, LLC, a Georgia limited liability company (the “Lender”); (ii) the Option Agreement, by and between the Borrower and the Lender, dated as of March 10, 2015 (the “Option”); (iii) the Warrant to purchase 2,000,000 shares of the Borrower’s Common Stock, dated as of March 10, 2015 (the “Warrant”); and (iv) the 12% Senior Secured Convertible Note issued by the Borrower to the Lender in the principal amount of $10,000,000 (the “Note” and together with the NWPA, the Option and the Warrant are collectively referred to as the “Loan Documents”).  Unless otherwise defined herein, capitalized terms used herein shall have the meaning ascribed to such terms in the applicable Loan Document.
 

 WHEREAS, the parties desire to amend the terms of the Loan Documents, pursuant to the terms and conditions set forth herein, as of the date hereof.
 

 NOW, THEREFORE in consideration of mutual covenants and premises set forth herein, and intending to be legally bound, the parties hereto agree as follows:
 

 1.
 Amendments.  The parties hereby agree that the Loan Documents are hereby modified to reflect that the conversion price of the Note, the purchase price of the Option and the exercise price of the Warrant are all increased from $1.00 per share to $1.02 per share ab initio.  In connection therewith, the following modifications are being made to the Loan Documents:
 

 (a)
 The Note is amended: (i) in Section 2(a) to change the Interest Conversion Rate to $1.02; and (ii) in Section 4(b) to change the Conversion Price to $1.02. 
 (b)
 The Option is amended: (i) in the third recital to change the reference from $1.00 to $1.02; (ii) in Section 1.2 to change the Purchase Price to $1.02; and (iii) in the second sentence of Section 1.2 to change $1.00 to “the Purchase Price.”
 (c)
 The Warrant is amended to change the initial Exercise Price to $1.02.
 (d)
 Section 8.20 of the NPWA is hereby amended to change all references from $1.00 per share to “$1.02 per share.”
 

 2.
 Allonge.  Borrower hereby agrees to execute the Allonge in the form attached hereto as Exhibit A in connection with the necessary amendment to the Note.
 

 
 

 3.
 Miscellaneous.
 

 (a)
 Except as modified herein, the Loan Documents shall remain in full force and effect.  
 

 (b)
 This Amendment may be executed in two or more counterparts (including via facsimile or portable document format (pdf), each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
 

 IN WITNESS WHEREOF, the undersigned have executed this Amendment No. 1 as of the day and year first above written.
 

 	 	
	 LENDER:
	 JACKSON INVESTMENT GROUP, LLC

	  
	  

	  
	 By: /s/ Richard L. Jackson

	  
	 Richard L. Jackson

	  
	 Manager and Chief Executive Officer

	  
	  

	  
	  

	 BORROWER:
	 BLUE EARTH, INC.

	  
	  

	  
	 By:  /s/ Johnny Thomas

	  
	 Name:  Johnny Thomas

	  
	 Title: CEO

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 2
 

 
 EXHIBIT A
 

 ALLONGE
 

 This Allonge to Promissory Note (the “Allonge”), dated as of May 13, 2015, is attached to and forms a part of the 12% Senior Secured Convertible Note issued by Blue Earth, Inc. (the “Borrower”) dated March 10, 2015 to Jackson Investment Group, LLC (the “Lender”) in the principal amount of $10,000,000  (the “Note”)  
 

 1.
 Capitalized terms used but not defined in this Allonge shall have the meanings ascribed to them in the Note.
 2.
 The Original Conversion Price as set forth in the Note is hereby deleted and replaced by “$1.02”.
 3.
 Section 2(a) is hereby amended to delete the reference to “$1.00” and replace it with $1.02 as the Interest Conversion Rate.
 4.
 Section 4(b) is hereby amended to delete “$1.00” as the Conversion Price and replace it  with “$1.02”.
 5.
 Except as expressly amended hereby, the terms and provisions of the Note shall remain in full force and effect.
 

 

 

 

 

 

 

 

 3
 

 
 IN WITNESS WHEREOF, the Borrower has caused this Allonge to be signed and delivered by its duly authorized officer this 13th day of May 2015.
 

 BORROWER:
 

 Blue Earth, Inc.
 

 

 

 By:_________________________________
 Name:  Johnny R. Thomas
 Title:  CEO
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 4ex-10.2

 EXHIBIT 10.2
 ALLONGE
 

 This Allonge to Promissory Note (the “Allonge”), dated as of May 13, 2015, is attached to and forms a part of the 12% Senior Secured Convertible Note issued by Blue Earth, Inc. (the “Borrower”) dated March 10, 2015 to Jackson Investment Group, LLC (the “Lender”) in the principal amount of $10,000,0000  (the “Note”)  
 

 1.
 Capitalized terms used but not defined in this Allonge shall have the meanings ascribed to them in the Note.
 2.
 The Original Conversion Price as set forth in the Note is hereby deleted and replaced by “$1.02”.
 3.
 Section 2(a) is hereby amended to delete the reference to “$1.00” and replace it with $1.02 as the Interest Conversion Rate.
 4.
 Section 4(b) is hereby amended to delete “$1.00” as the Conversion Price and replace it  with “$1.02”.  
 5.
 Except as expressly amended hereby, the terms and provisions of the Note shall remain in full force and effect.
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 

 IN WITNESS WHEREOF, the Borrower has caused this Allonge to be signed and delivered by its duly authorized officer this 13th day of May 2015.
 

 BORROWER:
 

 Blue Earth, Inc.
 

 

 

 By:      /s/  Johnny R. Thomas
 Name:  Johnny R. Thomas
 Title:    Chief Executive Officer
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 2ex-10.3

 EXHIBIT 10.3
 

 GLOBAL AMENDMENT
 TO THE 
 TCA GLOBAL CREDIT MASTER FUND, LP 
 SERIES D DOCUMENTS
 

 AMENDMENT NO. 1, dated as of May 14, 2015 (“Amendment No. 1”) to (i) Second Amendment to Credit Agreement, dated as of February 24, 2015 (the “Credit Agreement”), by and among Blue Earth, Inc., a Nevada Corporation (the “Issuing Borrower”), each of the undersigned wholly owned subsidiaries identified on Schedule I hereto (the “Subsidiaries”) and TCA Global Credit Master Fund, LP, a Cayman Islands limited partnership (the “Lender”), which amended the Credit Agreement, dated as of February 22, 2013 by and among the Issuing Borrower (and its then wholly owned subsidiaries) and the Lender, as amended by the First Amendment, dated as of September 11, 2013; (ii) the Subscription Agreement, dated as of February 24, 2015, by and between the Issuing Borrower and the Lender (the “Subscription Agreement”); (iii) the Lock Up/Leak-Out Agreement, dated as of February 24, 2015, by and between the Issuing Borrower and the Lender (the “Lock-Up Agreement”); and (iv) the Certificate of Designation for the Series D Preferred Stock of the Issuing Borrower (the “Series D Designation”, which together with the Credit Agreement, Subscription Agreement, the Lock-Up Agreement and the Series D Designation are collectively referred to as the “Series D Documents”).  
 

 WHEREAS, the parties desire to amend certain terms of the Series D Documents, pursuant to the terms and conditions set forth herein, as of the date hereof.
 

 NOW, THEREFORE in consideration of mutual covenants and premises set forth herein, and intending to be legally bound, the parties hereto agree as follows:
 1.
 Amendments.  The parties hereby agree that the Series D Documents are hereby modified to reflect that the shares of common stock issuable upon the conversion of the Series D Preferred Stock shall not exceed an aggregate of 2,500,000 shares of common stock.  In connection therewith, the following modifications are being made to the Series D Documents:
 (a)
 Section 22(d) of the Credit Agreement is hereby amended to add the following sentence to the end of the paragraph 
 “Notwithstanding anything to the contrary herein, the maximum amount of shares of the Issuing Borrower’s common stock issuable upon a conversion of the Series D Stock shall not exceed an aggregate of 2,500,000 shares of Common Stock.” 
 (b)
 The first sentence of Section 1.1 of the Subscription Agreement is hereby deleted  and replaced by the following:
 

 
 

 “1.1
 The Company is offering (the “Offering”) solely to TCA 400,000 shares of Preferred Stock.  The shares of the Preferred Stock shall be convertible into a maximum of 2,500,000 shares of common stock and calculated in accordance with the Conversion Price (as defined below).”
 

 (c)
 Section 1 of the Lock-Up Agreement is hereby amended to add the following sentence:
 “In accordance with the Certificate of Designation, the maximum amount of shares of the BE’s common stock issuable upon a conversion of the Preferred Stock D Stock shall not exceed an aggregate of 2,500,000 shares of BE common stock.”
 2.
 The Issuing Borrower hereby agrees to file and Lender consents to the Amendment to the Certificate of Designation of the Series D Preferred Stock in the form attached hereto as Exhibit A.
 3.
 Miscellaneous.
 (a)
 Except as modified herein, the Series D Documents shall remain in full force and effect.  
 (b)
 This Amendment may be executed in two or more counterparts (including via facsimile or portable document format (pdf), each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
 SIGNATURE PAGE TO FOLLOW
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 2
 

 
 IN WITNESS WHEREOF, the undersigned have executed this Amendment No. 1 as of the day and year first above written.
 

 	 	
	 LENDER:
	 TCA GLOBAL CREDIT MASTER FUND, LP

	  
	  

	  
	 By:  /s/  Robert Press

	  
	 Name:  Robert Press

	  
	 Title:    Director

	  
	  

	 BORROWERS:
	  

	  
	  

	 BLUE EARTH, INC., a Nevada corporation
	 BLUE EARTH TECH, INC., a Nevada corporation

	  
	  

	 By:      /s/  Johnny R. Thomas
	 By:        /s/ Johnny R. Thomas

	 Name:       Johnny R. Thomas
	 Name:         Johnny R. Thomas

	 Title:         Chief Executive Officer
	 Title:           President

	  
	  

	 BLUE EARTH GENERATOR, INC., a Nevada corporation (f/k/a Blue Earth Energy Management, Inc.)
	 BLUE EARTH ENERGY MANAGEMENT SERVICES, INC., a California corporation (f/k/a Castrovilla, Inc.)

	  
	  

	 By:  /s/  John W. Brogan
	 By:        /s/  John Pink, Jr.

	 Name:  John W. Brogan
	 Name:         John Pink, Jr.

	 Title:    President/COO
	 Title:           President

	  
	  

	 BLUE EARTH FINANCE, INC., a Nevada corporation
	 BLUE EARTH SOLAR, INC. (f/k/a Xnergy), a California corporation

	  
	  

	 By:       /s/ Johnny R. Thomas
	 By:  /s/  Ruben R. Fontes

	 Name:        Johnny R. Thomas
	 Name:  Ruben R. Fontes

	 Title:          President
	 Title:    President

	  
	  

	  
	  

	 ECOLEGACY GAS & POWER, LLC, a California limited liability company
	 BLUE EARTH POWER PERFORMANCE SOLUTIONS, INC., an Oregon corporation (f/k/a Intelligent Power, Inc.)

	  
	  

	 By:  /s/  Ruben R. Fontes
	 By:       /s/ Pete Johnson

	 Name:  Ruben R. Fontes
	 Name:        Pete Johnson

	 Title:    President
	 Title:          President

	  
	  

 

 

 3
 

 
 

 	 	
	 BLUE EARTH ENERGY POWER SOLUTIONS, LLC, an Oregon limited liability company (f/k/a Millennium Power Solutions, LLC)
	 SUMTER HEAT & POWER, LLC, a Nevada limited liability company

	  
	  

	 By:       /s/  Tim Hysell
	 By:      /s/  Brett Woodard

	 Name:   Tim Hysell
	 Name:  Brett Woodard

	 Title:     Corp. Sr. VP
	 Title:    Treasurer

	  
	  

	 BLUE EARTH CHP, INC., a Utah  corporation (f/k/a IPS Power Engineering, Inc.)
	 MAILI PV 01, LLC, a Hawaii limited liability company

	  
	  

	 By:       /s/  Brett Woodard
	 By:       /s/  John C. Francis

	 Name:   Brett Woodard
	 Name:  John C. Francis

	 Title:     Treasurer
	 Title:    Manager

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 4
 

 
 Schedule I
 

 The Subsidiaries
 

 BLUE EARTH TECH, INC., a Nevada corporation, 
 BLUE EARTH GENERATOR, INC. (f/k/a Blue Earth Energy Management, Inc.), a Nevada corporation, 
 BLUE EARTH FINANCE, INC., a Nevada corporation, 
 BLUE EARTH ENERGY MANAGEMENT SERVICES, INC. (f/k/a Castrovilla, Inc.), a California corporation, 
 BLUE EARTH SOLAR, INC. (f/k/a Xnergy), a California corporation, 
 ECOLEGACY GAS & POWER, LLC, a California limited liability company, 
 BLUE EARTH POWER PERFORMANCE SOLUTIONS, INC. (f/k/a Intelligent Power, Inc.), an Oregon corporation, 
 BLUE EARTH ENERGY POWER SOLUTIONS, LLC (f/k/a Millennium Power Solutions, LLC), an Oregon limited liability company, 
 BLUE EARTH CHP, INC. (f/k/a IPS Power Engineering, Inc.), a Utah corporation, 
 MAILI PV 01, LLC, a Hawaii limited liability company, 
 SUMTER HEAT & POWER LLC
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 5
 

 
 EXHIBIT A
 

 Amendment to the Certificate of Designation

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