Document:

Exhibit47

Exhibit 4.7

FIRST COMMUNITY FINANCIAL PARTNERS, INC.
2013 EQUITY INCENTIVE PLAN
NONQUALIFIED STOCK OPTION AWARD AGREEMENT
The Participant specified below is hereby granted a nonqualified stock option (the “Option”) by FIRST  COMMUNITY  FINANCIAL  PARTNERS,  INC., an Illinois corporation (the “Company”), under the FIRST COMMUNITY FINANCIAL PARTNERS, INC. 2013 EQUITY INCENTIVE PLAN (the “Plan”).  The Option shall be subject to the terms of the Plan and the terms set forth in this Nonqualified Stock Option Award Agreement (“Award Agreement”).
Section 1.Award.  The Company hereby grants to the Participant the Option, which represents the right of the Participant to purchase the number of Covered Shares at the Exercise Price set forth in Section 2 below, subject to the terms of this Award Agreement and the Plan.
Section 2.    Terms of Option Award.  The following words and phrases relating to the Option shall have the following meanings:
(a)    The “Participant” is ______________________________.
(b)    The “Grant Date” is ______________________________.
(c)    The number of “Covered Shares” is ____________________ Shares.
(d)    The “Exercise Price” is $____________________ per Covered Share.
Except for words and phrases otherwise defined in this Award Agreement, any capitalized word or phrase in this Award Agreement shall have the meaning ascribed to it in the Plan.
Section 3.    Nonqualified Stock Option.  The Option is not intended to satisfy the requirements applicable to an “incentive stock option” described in Code Section 422(b).
Section 4.    Vesting.  
(a)    Each installment of Covered Shares set forth in the table immediately below (each, an “Installment”) shall become vested and exercisable on the “Vesting Date” for such Installment set forth in the table immediately below; provided that the Participant’s Termination of Service has not occurred prior thereto:
	
		
	Installment
	Vesting Date applicable to Installment

	___% of Covered Shares
	 

    

(b)    Notwithstanding the foregoing provisions of this Section 4, all the Covered Shares shall become fully vested and immediately exercisable upon the Participant’s Termination of Service due to the Participant’s Disability or the Participant’s death.
(c)    Upon a Change in Control, the Option shall be treated in accordance with Section 4.1 of the Plan.
(d)    The Option shall not be exercisable on or after the Participant’s Termination of Service, except as to that portion of Covered Shares for which it was exercisable immediately prior to such Termination of Service or became exercisable on the date of such Termination of Service.
Section 5.    Expiration.  Notwithstanding any term of this Award Agreement to the contrary, the Participant shall forfeit the Option in its entirety as of the Company’s close of business on the last business day that occurs prior to the Expiration Date.  The “Expiration Date” shall be the earliest to occur of the following:
(a)    the three-month anniversary of the Participant’s Termination of Service other than due to the Participant’s Disability or death; provided, however, that if the Participant shall die after the date of Termination of Service but before the three-month anniversary of the Participant’s Termination of Service, the Expiration Date shall automatically be extended to the one-year anniversary of Participant’s Termination of Service;
(b)    the one-year anniversary of the Participant’s Termination of Service due to the Participant’s Disability or death; or
(c)    the 10-year anniversary of the Grant Date.
Section 6.    Exercise.  
(a)    Method of Exercise.  The vested portion of the Option may be exercised by the Participant in whole or in part by providing notice of option exercise to the Corporate Secretary of the Company at its corporate headquarters, in a form prescribed by the Committee or by satisfying such other procedures as shall be set forth by the Committee from time to time.  Such notice shall specify the number of Covered Shares that the Participant elects to purchase, and shall be accompanied by payment of the Exercise Price for such Covered Shares as further set forth in Section 6(b) below.
(b)    Payment of Exercise Price.  Without limitation of Section 8 below, the payment of the Exercise Price shall be by cash or, subject to limitations imposed by applicable law, by any of the following means unless otherwise determined by the Committee from time to time: (i) by tendering, either actually or by attestation, Shares acceptable to the Committee and valued at Fair Market Value as of the day of exercise; (ii) by irrevocably authorizing a third party, acceptable to the Committee, to sell Shares acquired upon exercise of the stock option and to remit to the Company no later than the third business day following exercise of a sufficient portion of the sale proceeds to pay the entire exercise price and any tax withholding resulting from such exercise; (iii) 

2
    

by payment through a net exercise such that, without the payment of any funds, the Participant may exercise the option and receive the net number of Shares equal in value to (A) the number of Shares as to which the option is being exercised, multiplied by (B) a fraction, the numerator of which is the Fair Market Value (on the date of exercise) less the exercise price, and the denominator of which is such Fair Market Value (the number of net Shares to be received shall be rounded down to the nearest whole number of Shares); (iv) by personal, certified or cashiers’ check; (v) by other property deemed acceptable by the Committee; or (vi) by any combination thereof.  
(c)    Restrictions.  The Option shall not be exercisable if and to the extent the Company determines that such exercise would violate any applicable laws or the applicable rules of any securities exchange or similar entity, and shall not be exercisable during any blackout period established by the Company from time to time.
Section 7.    Delivery of Shares.  Delivery of Shares or other amounts under this Award Agreement and the Plan shall be subject to the following:
(a)    Compliance with Applicable Laws.  Notwithstanding any other term of this Award Agreement or the Plan, the Company shall have no obligation to deliver any Shares or make any other distribution of benefits under this Award Agreement or the Plan unless such delivery or distribution complies with all applicable laws and the applicable rules of any securities exchange or similar entity.
(b)    Certificates Not Required.  To the extent that this Award Agreement and the Plan provide for the issuance of Shares, such issuance may be effected on a non-certificated basis, to the extent not prohibited by applicable law or the applicable rules of any securities exchange or similar entity.
Section 8.    Withholding.  The exercise of the Option, and the Company’s obligation to issue Shares upon exercise, is subject to withholding of all applicable taxes.  Except as otherwise provided by the Committee, such withholding obligations may be satisfied (a) through cash payment by the Participant, (b) through the surrender of Shares that the Participant already owns or (c) through the surrender of Shares to which the Participant is otherwise entitled under the Plan; provided, however, that except as otherwise specifically provided by the Committee, such Shares under clause (c) may not be used to satisfy more than the Company’s minimum statutory withholding obligation.
Section 9.    Non-Transferability of Option.  The Option, or any portion thereof, is not transferable except as designated by the Participant by will or by the laws of descent and distribution or pursuant to a domestic relations order.  Except as provided in the immediately preceding sentence, the Option shall not be assigned, transferred, pledged, hypothecated or otherwise disposed of by the Participant in any way whether by operation of law or otherwise, and shall not be subject to execution, attachment or similar process.  Any attempt at assignment, transfer, pledge, hypothecation or other disposition of the Option contrary to the provisions hereof, or the levy of any attachment or similar process upon the Option, shall be null and void and without effect.
Section 10.    Heirs and Successors.  This Award Agreement shall be binding upon, and inure to the benefit of, the Company and its successors and assigns, and upon any person acquiring 

3
    

all or substantially all of the Company’s assets or business.  If any rights of the Participant or benefits distributable to the Participant under this Award Agreement have not been settled or distributed at the time of the Participant’s death, such rights shall be settled for and such benefits shall be distributed to the Designated Beneficiary in accordance with the provisions of this Award Agreement and the Plan.  The “Designated Beneficiary” shall be the beneficiary or beneficiaries designated by the Participant in a writing filed with the Committee in such form as the Committee may require.  The Participant’s designation of beneficiary may be amended or revoked from time to time by the Participant in accordance with any procedures established by the Committee.  If a Participant fails to designate a beneficiary, or if the Designated Beneficiary does not survive the Participant, any benefits that would have been provided to the Participant shall be provided to the legal representative of the estate of the Participant.  If a Participant designates a beneficiary and the Designated Beneficiary survives the Participant but dies before the provision of the Designated Beneficiary’s benefits under this Award Agreement, then any benefits that would have been provided to the Designated Beneficiary shall be provided to the legal representative of the estate of the Designated Beneficiary. 
Section 11.    Administration.  The authority to manage and control the operation and administration of this Award Agreement and the Plan shall be vested in the Committee, and the Committee shall have all powers with respect to this Award Agreement as it has with respect to the Plan.  Any interpretation of this Award Agreement or the Plan by the Committee and any decision made by the Committee with respect to this Award Agreement or the Plan shall be final and binding on all persons.
Section 12.    Plan Governs.  Notwithstanding anything in this Award Agreement to the contrary, this Award Agreement shall be subject to the terms of the Plan, a copy of which may be obtained by the Participant from the office of the Corporate Secretary of the Company.  This Award Agreement shall be subject to all interpretations, amendments, rules and regulations promulgated by the Committee from time to time.  Notwithstanding any term of this Award Agreement to the contrary, in the event of any discrepancy between the corporate records of the Company and this Award Agreement, the corporate records of the Company shall control.
Section 13.    Not an Employment Contract.  Neither the Option nor this Award Agreement shall confer on the Participant any rights with respect to continuance of employment or other service with the Company or a Subsidiary, nor shall they interfere in any way with any right the Company or a Subsidiary may otherwise have to terminate or modify the terms of the Participant’s employment or other service at any time.
Section 14.    No Rights as Shareholder.  The Participant shall not have any rights of a Shareholder with respect to the Covered Shares until a stock certificate or its equivalent has been duly issued following exercise of the Option as provided herein.
Section 15.    Amendment.  Without limitation of Section 18 and Section 19 below, this Award Agreement may be amended in accordance with the provisions of the Plan, and may otherwise be amended in writing by the Participant and the Company without the consent of any other person.

4
    

Section 16.    Governing Law.  This Award Agreement, the Plan and all actions taken in connection herewith and therewith shall be governed by and construed in accordance with the laws of the State of Illinois without reference to principles of conflict of laws, except as superseded by applicable federal law.
Section 17.    Validity.  If any provision of this Award Agreement is determined to be illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but this Award Agreement shall be construed and enforced as if such illegal or invalid provision had never been included herein.
Section 18.    Section 409A Amendment.  The Option is intended to be exempt from Code Section 409A and this Award Agreement shall be administered and interpreted in accordance with such intent.  The Committee reserves the right (including the right to delegate such right) to unilaterally amend this Award Agreement without the consent of the Participant in order to maintain an exclusion from the application of, or to maintain compliance with, Code Section 409A; and the Participant hereby acknowledges and consents to such rights of the Committee.
Section 19.    Clawback.  The Option and any amount or benefit received under the Plan shall be subject to potential cancellation, recoupment, rescission, payback or other action in accordance with the terms of any applicable Company or Subsidiary clawback policy (the “Policy”) or any applicable law, as may be in effect from time to time.  The Participant hereby acknowledges and consents to the Company’s or a Subsidiary’s application, implementation and enforcement of (a) the Policy and any similar policy established by the Company or a Subsidiary that may apply to the Participant, whether adopted prior to or following the date of this Award Agreement and (b) any provision of applicable law relating to cancellation, rescission, payback or recoupment of compensation, and agrees that the Company or a Subsidiary may take such actions as may be necessary to effectuate the Policy, any similar policy and applicable law without further consideration or action.
*    *    *    *    *
    

5
    

IN WITNESS WHEREOF, the Company has caused this Award Agreement to be executed in its name and on its behalf, and the Participant acknowledges understanding and acceptance of, and agrees to, the terms of the Plan and this Award Agreement, all as of the Grant Date.
FIRST COMMUNITY FINANCIAL PARTNERS, INC.
By:         
Print Name:     
Title:     
PARTICIPANT
        
Print Name:tenp_ex101.htm

EXHIBIT 10.1

 

THE SECURITIES REPRESENTED BY THIS INSTRUMENT HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISPOSITION MAY BE AFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL REASONABLY ACCEPTABLE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.

 

TECHNOLOGIES SCAN CORP.

 

12% CONVERTIBLE DEBENTURE DUE JULY 31TH 2016

 

AMOUNT:         $ 100,000.00

THIS CONVERTIBLE DEBENTURE (this “DEBENTURE”) is entered into by and between:

 

 6287182 Canada inc., body duly incorporated as per the laws of Canada, having its head office at 1840 1ère rue Suite 101A, St-Romuald, Lévis, Québec, G6W 5M6

 

(Hereinafter “PAYEE”),

 

And

 

Technologies Scan Corp, a body duly incorporated as per the laws of Nevada, having a place of business at 331 Labelle, St-Jérôme, Québec, J7Z 5L2

 

(Hereinafter “CORPORATION”).

 

FOR VALUE RECEIVED CORPORATION acknowledges itself indebted to and hereby promises to pay to the registered holder hereof on July 31th 2016 (the "Maturity Date"), on presentation and surrender of this Debenture at the registered office of the Corporation, the principal sum of $ 100,000.00 and all accrued interest. The Corporation shall be required to pay that amount of accrued interest thereon at the rate of 12% per annum, calculated quarterly, in like money, at the end of each quarter, for the interest accrued in that quarter,   commencing on date of this Debenture and continuing thereafter on each subsequent quarter during the three year term of this Debenture.  Payments of interest shall continue to be made thereafter by the Corporation for the remaining term of the Debenture.

This Debenture shall be subject to the following conditions:

1. Redemption

 

1.1 The Corporation may redeem this Debenture without penalty by paying the principal amount outstanding on this Debenture (the “Principal”) together with all interest accrued but unpaid thereon as at the effective date of redemption. After 12 months from the date of this Debenture, the Corporation has the further option of redeeming this Debenture.

 

  

1

  

1.2 In order to effect a redemption of this Debenture, the Corporation shall deliver notice to the holder of its intention to redeem the Debenture not less than 60 days prior to the effective date of redemption.

1.3 If the Corporation gives the notice referred to in paragraph 1.2, at any time during such notice period the holder may elect to convert any amount outstanding on this Debenture into Shares of the Corporation (the “Shares”) provided that the holder follows the procedure referred to in Section 2.

1.4 If the holder does not elect to convert this Debenture into Shares, the Corporation may deposit in a special account in any chartered bank or any trust company in Quebec, Canada named in the Corporation’s redemption notice, sufficient funds to fully redeem the Debenture, and thereafter the Debenture shall be deemed to be redeemed as of the effective date of the redemption and the rights of the holder after such redemption date shall be limited to receiving his or her Principal outstanding under the Debenture together with any accrued but unpaid interest payable thereon at redemption, upon presentation of the original Debenture for redemption.  Following such deposit, no further interest will be payable upon the redemption moneys after the effective date of redemption.  Any interest which may accrue on any such account shall belong to the Corporation.

1.5 Upon the issue of the Shares and the payment of any requisite moneys pursuant to the conversion privilege referred to in section 2, this Debenture shall be deemed to be redeemed by the Corporation.

2. Conversion

 

2.1 The holder of the Debenture shall have the right at any time prior to the repayment of the Principal to convert all or portion of the principal (but not including any accrued but unpaid interest thereon) into fully paid and non assessable Shares at a price per share shall be equal to 80% of the average closing price for 5 consecutive days prior to the notice of conversion

2.2 In order to exercise the conversion privilege described above, the holder shall deliver to the registered office of the Corporation (or to such other place as the Corporation may direct) written notice  (the “Notice”) which shall be irrevocable, signed by the holder, stating that the holder has not assigned any of his or her right, title and interest in or under the Debenture and that the holder elects to convert the Debenture or a portion thereof as of the date given in the Notice.  The Notice shall be delivered to the Corporation at least 60 days prior to the date it is to be effective and shall also state the name or names (with addresses) in which the certificate for Shares which shall be issuable on such conversion, shall be issued.

2.3 If the Principal to be converted does not divide equally by the Conversion Price, no fraction of a Share shall be issued and the Corporation shall deliver the difference to the holder.

2.4 As promptly as practicable after the effective date of the conversion, the Corporation shall issue and deliver to the holder, a certificate in the name or names of the person or persons specified in the Notice and shall enter the holder’s name in the Shareholder’s Register of the Corporation in respect of the subject Shares.  At the same time, the Corporation shall pay to the holder any accrued but unpaid interest on the Debenture.

 

  

2

  

2.5 In case the Corporation shall hereafter:

(a) declare a dividend or make a distribution on its Shares that is payable in Shares;

(b) subdivide its outstanding Shares into a greater number of Shares; or

(c) consolidate its outstanding Shares into a smaller number of Shares;

(such event being herein called a “Common Share Reorganization”), the Conversion Price thereafter shall be proportionately adjusted so that the holder, upon surrender of the Debenture for conversion after such time shall be entitled to receive Shares of equal value to the Shares which he or she would have been entitled to receive had such Debenture been converted immediately prior to such Common Share Reorganization.

2.6 The Corporation shall at all times while this Debenture remains outstanding, reserve and keep available out of its authorized but unissued Shares, for the purpose of effecting the conversion of the Debenture, such number of Shares as shall from time to time be sufficient to effect the conversion of all of the Principal outstanding under this Debenture.  As a condition precedent to the taking of any action which would require an adjustment to the Conversion Price, the Corporation shall take any corporate action which may be necessary in order that the Corporation shall have issued and reserved in its authorized capital, and may validly and legally issue, the Shares to which the holder is entitled on the full exercise of his or her conversion rights in accordance with the provisions of this Debenture.

3. Representations, Warranties and Covenants of the Company. The Company represents, warrants and covenants with the Holder as follows:

(a) Authorization; Enforceability. All corporate action on the part of the Company, its officers, directors and stockholders necessary for the authorization, execution and delivery of this Debenture and the performance of all obligations of the Company hereunder has been taken, and this Debenture constitutes a valid and legally binding obligation of the Company, enforceable in accordance with its terms except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors' rights generally, and (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies.

(b) Governmental Consents. No consent, approval, qualification, order or authorization of, or filing with, any local, state or federal governmental authority is required on the part of the Company in connection with the Company's valid execution, delivery or performance of this Note except any notices required to be filed with the Securities and Exchange Commission under Regulation D of the Securities Act of 1933, as amended (the "1933 Act"), or such filings as may be required under applicable state securities laws, which, if applicable, will be timely filed within the applicable periods therefor.

(c) No Violation. The execution, delivery and performance by the Company of this Debenture and the consummation of the transactions contemplated hereby will not result in a violation of its Certificate of Incorporation or Bylaws, in any material respect of any provision of any mortgage, agreement, instrument or contract to which it is a party or by which it is bound or, to the best of its knowledge, of any federal or state judgment, order, writ, decree, statute, rule or regulation applicable to the Company or be in material conflict with or constitute, with or without the passage of time or giving of notice, either a material default under any such provision or an event that results in the creation of any material lien, charge or encumbrance upon any assets of the Company or the suspension, revocation, impairment, forfeiture or nonrenewal of any material permit, license, authorization or approval applicable to the Company, its business or operations, or any of its assets or properties.

 

  

3

  

4. Representations and Covenants of the Holder. The Company has entered into this Debenture in reliance upon the following representations and covenants of the Holder:

(a) Investment Purpose. This Debenture and the common stock issuable upon conversion of the Debenture are acquired for investment and not with a view to the sale or distribution of any part thereof, and the Holder has no present intention of selling or engaging in any public distribution of the same except pursuant to a registration or exemption.

(b) Private Issue. The Holder understands (i) that this Debenture and the common stock issuable upon conversion of this Debenture are not registered under the 1933 Act or qualified under applicable state securities laws, and (ii) that the Company is relying on an exemption from registration.

(c) Financial Risk. The Holder has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of its investment, and has the ability to bear the economic risks of its investment.

(d) Risk of No Registration. The Holder understands that if the Company does not register with the Securities and Exchange Commission pursuant to Section 12 of the Securities Exchange Act of 1934 (the "1934 Act"), or file reports pursuant to Section 15(d) of the 1934 Act, or if a registration statement covering the securities under the 1933 Act is not in effect when it desires to sell the common stock issuable upon conversion of the Debenture, it may be required to hold such securities for an indefinite period. The Holder also understands that any sale of the Debenture or the common stock which might be made by it in reliance upon Rule 144 under the 1933 Act may be made only in accordance with the terms and conditions of that Rule.

4. General

 

4.1 This Debenture is a direct obligation of the Corporation but is not secured by any mortgage, pledge or other charge.

4.2 The Corporation reserves the right to issue additional Debentures or other series of debentures, from time to time as the directors of the Corporation see fit.

4.3 No transfer of this Debenture shall be valid unless the name and address of the transferee has been duly recorded in the Register of Debenture holders of the Corporation.

4.4 Any notice to be given by any party to the other pursuant to this Debenture shall be in writing and shall be delivered by hand or certified mail as follows:

 

(a) if to the Corporation, to its registered office, presently located at 331 Labelle, St-Jérôme, Québec, Canada, J7Z 5L2, and

(b) if to the holder, to the address of the holder in the Register of Debenture holders of the Corporation,

 

or to such other address as either party may advise the other by notice hereunder.  Any such notice shall be deemed to be received if delivered, when delivered, and if mailed as aforesaid, on the third business day following its posting.

4.5 Time shall be of the essence of this Debenture.

 

  

4

  

4.6 This Debenture shall be subject to and interpreted in accordance with the laws of Nevada.  All disputes that may arise under this Debenture shall be dealt with in the courts of Nevada and the holder shall agree to attorn to and be subject to the same.

4.7 This Debenture shall be binding upon and endure to the benefit of the parties hereto and their respective heirs, executors, personal representatives, successors and assigns. Subject to the restrictions on transfer described in Section 5 below, the rights and obligations of the Company and the Holder shall be binding upon and benefit the successors, assigns, heirs, administrators and transferees of the parties.

5. Transfer of This Debenture or Securities Issuable on Conversion Hereof. With respect to any offer, sale or other disposition of this Debenture or securities into which this Debenture may be converted, the Holder will give written notice to the Company prior thereto, describing briefly the manner thereof. Unless the Company reasonably determines that such transfer would violate applicable securities laws, or that such transfer would adversely affect the Company's ability to account for future transactions to which it is a party as a pooling of interests, and notifies the Holder thereof within five (5) business days after receiving notice of the transfer, the Holder may effect such transfer. The Debenture thus transferred and each certificate representing the securities thus transferred shall bear a legend as to the applicable restrictions on transferability in order to ensure compliance with the 1933 Act, unless in the opinion of counsel for the Company such legend is not required in order to ensure compliance with the 1933 Act. The Company may issue stop transfer instructions to its transfer agent in connection with such restrictions.

In witness whereof the parties has duly executed this Debenture under the hand of its officer properly authorized in that behalf, this 31th day of July, 2013.

 

	 	6287182 Canada inc.
	 	 
	 	By:_______________________________
	 	 
	 	Its:_______________________________
	 	 
	 	TECHNOLOGIES SCAN CORP.
	 	 
	 	By:_______________________________
	 	 
	 	Its:_______________________________

 

 

 

 

 5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00220-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00220-of-00352.parquet"}]]