Document:

AMENDMENT NO. 1 TO

PETROSONIC ENERGY, INC.

CONVERTIBLE DEBENTURE

 

This Amendment No. 1 to Petrosonic Energy,
Inc. Convertible Debenture (“Amendment”) is made on this 5th day of June 2013 by and between Petrosonic
Energy, Inc. (the “Company”) and Art Agolli (the “Holder”) based on the following:

 

RECITALS

 

A.On June 6, 2012, the Company issued
to the Holder the Petrosonic Energy, Inc. Convertible Debenture (the “Debenture”) in the face amount of CDN$200,000.

 

B.Pursuant to the Debenture, the payment
due date is June 6, 2013.

 

C.The Company and the Holder wish to
extend the payment due date to June 6, 2014.

 

THEREFORE, the Company and the Holder agree:

 

1.Amendment to Maturity Date.
Section 1(a) of the Debenture, which currently states:

 

The unpaid Principal of this Debenture shall be due and
payable by the Company on the anniversary of the date hereof (the “Maturity Date”).

 

shall be amended to state:

 

The unpaid Principal of this Debenture shall be due and
payable by the Company on the second anniversary of the date hereof (the “Maturity Date”).

 

2.All Other Terms Remain the Same.
In all other respects, the terms and conditions of the Debenture remain without modification.

 

WHEREFORE, the Company and the Holder have executed this Amendment
on the date set forth above.

 

	 	COMPANY
	 	PETROSONIC ENERGY, INC.
	 	 
	 	By:  	/s/ Art Agolli
	 	 	Art Agolli, Chief Executive Officer
	 	 
	 	HOLDER
	 	 
	 	/s/ Art Agolli
	 	Art AgolliExhibit 10.6

THIRD AMENDED AND RESTATED

SPONSOR WARRANTS PURCHASE AGREEMENT

 

THIS THIRD AMENDED
AND RESTATED SPONSOR WARRANTS PURCHASE AGREEMENT, dated as of July 23, 2013 (as it may from time to time be amended and including
all exhibits referenced herein, this “Agreement”), by and among Silver Eagle Acquisition Corp., a Delaware corporation
(f/k/a Global Eagle Acquisition Corp. II) (the “Company”), and each of the parties set forth on the signature page
hereto under “Purchasers” (the “Purchasers”), amends and restates in its entirety, the Sponsor Warrants
Purchase Agreement made as of April 16, 2013, as amended and restated on June 18, 2013 and July 11, 2013, by and among the parties
hereto.

 

The Company intends
to consummate a public offering of the Company’s units (the “Public Offering”), each unit consisting of one share
of the Company’s common stock, par value $0.0001 per share (a “Share”), and one warrant. Each warrant entitles
the holder to purchase one-half of one Share at an exercise price of $5.75 per half Share. The Purchasers have agreed to purchase
an aggregate of 15,000,000 warrants (the “Sponsor Warrants”), each Sponsor Warrant entitling the holder to purchase
one Share at an exercise price of $5.75 per half Share.

 

NOW THEREFORE, in consideration
of the mutual promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:

 

AGREEMENT

 

Section 1.          Authorization,
Purchase and Sale; Terms of the Sponsor Warrants.

 

A.           Authorization
of the Sponsor Warrants. The Company has duly authorized the issuance and sale of the Sponsor Warrants to the Purchasers.

 

B.           Purchase
and Sale of the Sponsor Warrants. On the date that is one business day prior to the date of the consummation of the Public
Offering or on such earlier time and date as may be mutually agreed by the Purchasers and the Company (the “Closing Date”),
the Company shall issue and sell to the Purchasers, and the Purchasers shall purchase from the Company, the Sponsor Warrants set
forth opposite such Purchaser’s name on Exhibit A to this Agreement at a price of $0.50 per warrant for an aggregate
purchase price of $7,500,000 (the “Purchase Price”), which shall be paid by wire transfer of immediately available
funds to the Company in accordance with the Company’s wiring instructions. On the Closing Date, upon the payment by the Purchasers
of the Purchase Price set forth opposite such Purchaser’s name on Exhibit A to this Agreement by wire transfer of
immediately available funds to the Company, the Company shall deliver a certificate evidencing the Sponsor Warrants duly registered
in such Purchaser’s name to each Purchaser.

 

    	 

    	 

    

 

C.          Terms
of the Sponsor Warrants.

 

(i)          Each
Sponsor Warrant shall have the terms set forth in a Warrant Agreement to be entered into by the Company and a warrant agent, in
connection with the Public Offering (a “Warrant Agreement”).

 

(ii)         At
the time of the closing of the Public Offering, the Company and the Purchasers shall enter into a registration rights agreement
(the “Registration Rights Agreement”) pursuant to which the Company will grant certain registration rights to the Purchasers
relating to the Sponsor Warrants and the Shares underlying the Sponsor Warrants.

 

Section 2.          Representations
and Warranties of the Company. As a material inducement to the Purchasers to enter into this Agreement and purchase the Sponsor
Warrants, the Company hereby represents and warrants to the Purchasers (which representations and warranties shall survive the
Closing Date) that:

 

A.          Organization
and Corporate Power. The Company is a corporation duly organized, validly existing and in good standing under the laws of the
State of Delaware and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably be
expected to have a material adverse effect on the financial condition, operating results or assets of the Company. The Company
possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this Agreement and
the Warrant Agreement.

 

B.          Authorization;
No Breach.

 

(i)          The
execution, delivery and performance of this Agreement and the Sponsor Warrants have been duly authorized by the Company as of the
Closing Date. This Agreement constitutes the valid and binding obligation of the Company, enforceable in accordance with its terms.
Upon issuance in accordance with, and payment pursuant to, the terms of the Warrant Agreement and this Agreement, the Sponsor Warrants
will constitute valid and binding obligations of the Company, enforceable in accordance with their terms as of the Closing Date.

 

(ii)         The
execution and delivery by the Company of this Agreement and the Sponsor Warrants, the issuance and sale of the Sponsor Warrants,
the issuance of the Shares of common stock upon exercise of the Sponsor Warrants and the fulfillment of and compliance with the
respective terms hereof and thereof by the Company, do not and will not as of the Closing Date (a) conflict with or result
in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation of
any lien, security interest, charge or encumbrance upon the Company’s capital stock or assets under, (d) result in a
violation of, or (e) require any authorization, consent, approval, exemption or other action by or notice or declaration to,
or filing with, any court or administrative or governmental body or agency pursuant to the Certificate of Incorporation of the
Company or the By Laws of the Company, or any material law, statute, rule or regulation to which the Company is subject, or any
agreement, order, judgment or decree to which the Company is subject, except for any filings required after the date hereof under
federal or state securities laws.

 

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C.          Title
to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Shares
issuable upon exercise of the Sponsor Warrants will be duly and validly issued, fully paid and nonassessable. Upon issuance in
accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Purchasers will have good title to the
Sponsor Warrants and the Shares issuable upon exercise of such Sponsor Warrants, free and clear of all liens, claims and encumbrances
of any kind, other than (i) transfer restrictions hereunder and under the other agreements contemplated hereby, (ii) transfer
restrictions under federal and state securities laws, and (iii) liens, claims or encumbrances imposed due to the actions of
the Purchasers.

 

D.          Governmental
Consents. No permit, consent, approval or authorization of, or declaration to or filing with, any governmental authority is
required in connection with the execution, delivery and performance by the Company of this Agreement or the consummation by the
Company of any other transactions contemplated hereby.

 

Section 3.          Representations
and Warranties of the Purchasers. As a material inducement to the Company to enter into this Agreement and issue and sell the
Sponsor Warrants to the Purchasers, each Purchaser hereby, severally and not jointly, represents and warrants to the Company (which
representations and warranties shall survive the Closing Date) that:

 

A.          Organization
and Requisite Authority. Such Purchaser possesses all requisite power and authority necessary to carry out the transactions
contemplated by this Agreement.

 

B.          Authorization;
No Breach.

 

(i)          This
Agreement constitutes a valid and binding obligation of such Purchaser, enforceable in accordance with its terms, subject to bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting
creditors’ rights and to general equitable principles (whether considered in a proceeding in equity or law).

 

(ii)         The
execution and delivery by such Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof by such
Purchaser does not and shall not as of the Closing Date conflict with or result in a breach by such Purchaser of the terms, conditions
or provisions of any agreement, instrument, order, judgment or decree to which such Purchaser is subject.

 

C.          Investment
Representations.

 

(i)          Such
Purchaser is acquiring the Sponsor Warrants and, upon exercise of the Sponsor Warrants, the Shares issuable upon such exercise
(collectively, the “Securities”) for such Purchaser’s own account, for investment purposes only and not with
a view towards, or for resale in connection with, any public sale or distribution thereof.

 

(ii)         Such
Purchaser is an “accredited investor” as such term is defined in Rule 501(a)(3) of Regulation D.

 

(iii)        Such
Purchaser understands that the Securities are being offered and will be sold to it in reliance on specific exemptions from the
registration requirements of the United States federal and state securities laws and that the Company is relying upon the truth
and accuracy of, and such Purchaser’s compliance with, the representations and warranties of such Purchaser set forth herein
in order to determine the availability of such exemptions and the eligibility of such Purchaser to acquire such Securities.

 

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(iv)        Such
Purchaser decided to enter into this Agreement as a result of any general solicitation or general advertising within the meaning
of Rule 502(c) under the Securities Act of 1933, as amended (the “Securities Act”).

 

(v)         Such
Purchaser has been furnished with all materials relating to the business, finances and operations of the Company and materials
relating to the offer and sale of the Securities which have been requested by such Purchaser. Such Purchaser has been afforded
the opportunity to ask questions of the executive officers and directors of the Company. Such Purchaser understands that its investment
in the Securities involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary
to make an informed investment decision with respect to the acquisition of the Securities.

 

(vi)        Such
Purchaser understands that no United States federal or state agency or any other government or governmental agency has passed on
or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities
by such Purchaser nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(vii)       Such
Purchaser understands that: (a) the Securities have not been and are not being registered under the Securities Act or any
state securities laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder
or (2) sold in reliance on an exemption therefrom; and (b) except as specifically set forth in the Registration Rights
Agreement, neither the Company nor any other person is under any obligation to register the Securities under the Securities Act
or any state securities laws or to comply with the terms and conditions of any exemption thereunder. In this regard, such Purchaser
understands that the Securities and Exchange Commission has taken the position that promoters or affiliates of a blank check company
and their transferees, both before and after a Business Combination, are deemed to be “underwriters” under the Securities
Act when reselling the securities of a blank check company. Based on that position, Rule 144 adopted pursuant to the Securities
Act would not be available for resale transactions of the Securities despite technical compliance with the requirements of such
Rule, and the Securities can be resold only through a registered offering or in reliance upon another exemption from the registration
requirements of the Securities Act.

 

(viii)      Such
Purchaser has such knowledge and experience in financial and business matters, know of the high degree of risk associated with
investments in the securities of companies in the development stage such as the Company, are capable of evaluating the merits and
risks of an investment in the Securities and are able to bear the economic risk of an investment in the Securities in the amount
contemplated hereunder for an indefinite period of time. Such Purchaser has adequate means of providing for their current financial
needs and contingencies and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment
in the Securities. Such Purchaser can afford a complete loss of their investments in the Securities.

 

Section 4.          Conditions
of the Purchasers’ Obligations. The obligation of the Purchasers to purchase and pay for the Sponsor Warrants are subject
to the fulfillment, on or before the Closing Date, of each of the following conditions:

 

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A.           Representations
and Warranties. The representations and warranties of the Company contained in Section 2 shall be true and correct at
and as of the Closing Date as though then made.

 

B.           Performance.
The Company shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by it on or before the Closing Date.

 

C.           No
Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement or the Warrant Agreement.

 

D.           Warrant
Agreement. The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to each of the
Purchasers.

 

Section 5.          Conditions
of the Company’s Obligations. The obligations of the Company to the Purchasers under this Agreement are subject to the
fulfillment, on or before the Closing Date, of each of the following conditions:

 

A.           Representations
and Warranties. The representations and warranties of the Purchasers contained in Section 3 shall be true and correct
at and as of the Closing Date as though then made.

 

B.           Performance.
The Purchasers shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by the Purchasers on or before the Closing Date.

 

C.           Corporate
Consents. The Company shall have obtained the consent of its Board of Directors authorizing the execution, delivery and performance
of this Agreement and the Warrant Agreement and the issuance and sale of the Sponsor Warrants hereunder.

 

D.           No
Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement or the Warrant Agreement.

 

E.           Warrant
Agreement. The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to the Company.

 

Section 6.          Termination.
This Agreement may be terminated at any time after December 31, 2013 upon the election by either the Company or a Purchaser entitled
to purchase a majority of the Sponsor Warrants upon written notice to the other parties if the closing of the Public Offering does
not occur prior to such date.

 

Section 7.          Survival
of Representations and Warranties. All of the representations and warranties contained herein shall survive the Closing Date.

 

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Section 8.          Definitions.
Terms used but not otherwise defined in this Agreement shall have the meaning assigned to such terms in the registration statement
on Form S-1 the Company plans to file with the Securities and Exchange Commission, under the Securities Act.

 

Section 9.          Miscellaneous.

 

A.           Successors
and Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or
on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether
so expressed or not. Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this Agreement,
other than assignments by the Purchasers to affiliates thereof (including, without limitation one or more of its members).

 

B.           Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be
ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.

 

C.           Counterparts.
This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the signatures of more than
one party, but all such counterparts taken together shall constitute one and the same agreement.

 

D.           Descriptive
Headings; Interpretation. The descriptive headings of this Agreement are inserted for convenience only and do not constitute
a substantive part of this Agreement. The use of the word “including” in this Agreement shall be by way of example
rather than by limitation.

 

E.           Governing
Law. This Agreement shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall
be construed in accordance with the internal laws of the State of Delaware.

 

F.           Amendments.
This letter agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed
by all parties hereto.

 

[Signature page follows]

 

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IN WITNESS WHEREOF,
the parties hereto have executed this Agreement.

 

	 	COMPANY:
	 	 
	 	SILVER EAGLE ACQUISITION CORP.
	 	 	 
	 	By:	/s/ James A. Graf
	 	 	Name: James A. Graf
	 	 	Title: Vice President
	 	 	 
	 	PURCHASERS:
	 	 
	 	GLOBAL EAGLE ACQUISITION LLC
	 	 	 
	 	By:	/s/ James A. Graf
	 	 	Name: James A. Graf
	 	 	Title: Vice President
	 	 	 
	 	/s/ Dennis A. Miller
	 	Dennis A. Miller

 

    	 

    	 

    

 

Exhibit A

 

	Name	 	Number of Sponsor
 Warrants	 	 	Purchase Price	 
	Global Eagle Acquisition LLC	 	 	14,250,000	 	 	$	7,125,000	 
	Dennis Miller	 	 	750,000	 	 	$	375,000

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