Document:

EX-10.2

 EXHIBIT 10.2 

 
 

 
 FORM OF DIRECTOR AND OFFICER INDEMNIFICATION AGREEMENT 

This Director and Officer Indemnification Agreement (this “Agreement”) is entered into as of the “Effective Date” set
forth below, by and between Manhattan Associates, Inc., a Georgia corporation (“Company”), and the undersigned “Indemnitee,” with reference to the following facts: 

A. Indemnitee is a director or an officer of Company and in that capacity is expected to perform, and performs, valuable services for
Company. 
 B. Company’s Bylaws provide certain indemnification and expense advancement rights in favor of directors of
Company. 
 C. Company’s Bylaws further provide that Company’s Board of Directors will have the power to cause Company
to provide to its officers all or any part of the right to indemnification permitted for officers by appropriate provisions of the Official Code of Georgia Annotated (the “Statute”). 

D. Company’s Bylaws further provide that Company will have the power, upon authorization by the Board of Directors, to enter into an
agreement or agreements providing to any indemnified person indemnification rights substantially similar to those provided in Company’s Bylaws. 
 E. In order to encourage Indemnitee to continue to serve as a director or an officer of Company and to perform other services for Company at its request, Company desires to enter into this Agreement with
Indemnitee. 
 In consideration of Indemnitee’s Service, Company and Indemnitee agree as follows: 

1. Contents of Agreement. This Agreement consists of this Signature Page and attached Schedule A (“General Terms and Conditions”), which
is incorporated into this Agreement by reference. 
 2. Definitions. Except as otherwise defined in this Agreement, capitalized terms
will have the meanings set forth in Section 1 of Schedule A entitled “Definitions.” 
 THIS AGREEMENT WILL BECOME EFFECTIVE
WHEN SIGNED BY BOTH PARTIES BELOW AND AS OF THE DATE SIGNED BY INDEMNITEE BELOW. 
 IN WITNESS WHEREOF, the Parties have executed
this Agreement as of the Effective Date. 
  

					
	INDEMNITEE	 		  	COMPANY
			
	 [Name of Indemnitee]
 [Address
of Indemnitee]
	 		  	 Manhattan Associates, Inc.

2300 Windy Ridge Parkway, Tenth Floor
 Atlanta,
GA 30339

			
	 	 		  	  

	INDEMNITEE SIGNATURE	 		  	AUTHORIZED SIGNATURE
			
	 	 		  	  

	NAME PRINTED	 		  	NAME & TITLE PRINTED
			
	 	 		  	  

	EFFECTIVE DATE	 		  	DATE

  

 SCHEDULE A GENERAL TERMS AND CONDITIONS 

 

 1. Definitions. Except as otherwise specified in this Agreement, the definitions of the capitalized
terms set forth in this Section 1 will apply with respect to the entire Agreement. 
 1.1 Agreement. This Director
and Officer Indemnification Agreement. 
 1.2 Company. As defined in the Preamble to this Agreement. 

1.3 Effective Date. The date on which this Agreement becomes effective as defined on the Signature Page to this Agreement.

 1.4 Indemnitee. As defined in the Preamble to this Agreement. 

1.5 Loss. Any obligation to pay a judgment, settlement, penalty, fine (including an excise tax assessed with respect to an
employment benefit plan), expenses (including attorneys’ fees and related disbursements and appeals bonds), and amounts paid in settlement actually and reasonably incurred by Indemnitee in connection with a Proceeding. For the avoidance of
doubt, Losses include, without limitation, monetary damages against Indemnitee in respect of a breach or an alleged breach of fiduciary duties. In addition, Losses include expenses incurred in a Proceeding brought by Indemnitee, and in which
Indemnitee prevails, to enforce or interpret this Agreement or to enforce any other right to indemnification or expense advancement. 
 1.6 Parties. Indemnitee and Company. 
 1.7 Person. A natural
person, or a corporation, partnership, limited partnership, joint venture, limited liability company, trust, other business, non-business, charitable, or governmental entity, or governmental agency. 

1.8 Proceeding. Any threatened, pending, or completed action, suit, claim, or proceeding, whether civil, criminal,
administrative, or investigative, and whether formal or informal, including any such action, suit, claim, or proceeding brought by or in the right of Company; and the investigation, preparation, prosecution, defense, settlement, arbitration, and
appeal of, and the giving of testimony in, any of the foregoing. 
 1.9 Service. Indemnitee’s past, present, or
future service as a director and/or officer of Company, or Indemnitee’s service at the request of Company as a director, officer, employee, agent, or consultant (which, for purposes of the Agreement, will include a trustee, partner, or manager
or similar office) of another corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise, or by reason of any action taken or omitted or alleged to have been taken or omitted in that capacity. For purposes of this
Section 1.9, (i) Indemnitee will be considered to be serving under an employee benefit plan at the request of Company if their duties to Company also impose duties on, or otherwise involve services by, them to the plan or to participants
in or beneficiaries of the plan; and (ii) Indemnitee will be deemed to be serving at the request of Company as a director, officer, employee, agent, or consultant of another corporation, partnership, joint venture, trust, or other enterprise if
that other entity is a subsidiary or affiliate of Company and Indemnitee is elected as a director or officer of that other entity or is employed or engaged by that entity.

 1.10 Statute. As defined on the Signature Page to this Agreement. 

2. Indemnification of Indemnitee. Company will indemnify, defend and hold harmless Indemnitee to the full extent permitted by the provisions of
the Statute, as currently in effect or as it may later be amended, or by the provisions of any other statute authorizing or permitting that indemnification, whether currently in effect or later adopted. 

3. Additional Indemnity. Subject to Section 4, Company will indemnify, defend, and hold harmless, Indemnitee against any Losses if Indemnitee
was, is, or is threatened to be made a named defendant or respondent in any Proceeding by reason of Indemnitee’s Service. 
 4.
Limitations on Additional Indemnity. The following limitations will apply with respect to the indemnity provided for in Section 3. 
 4.1 Limitation Related to Certain Court Judgments or Injunctions. No indemnity pursuant to Section 3 will be paid by Company to the extent of any Losses incurred in a Proceeding in which
Indemnitee is adjudged liable to Company, in a final nonappealable decision, or is subjected to final nonappealable injunctive relief in favor of Company: 
 (i) for any appropriation, in violation of their duties, of any business opportunity of Company; 
 (ii) for acts or omissions that involve intentional misconduct or a knowing violation of law; 
 (iii) for the types of liability set forth in Section 14-2-832 of the Statute; or 
 (iv) for any transaction from which Indemnitee received any improper personal benefit. 
 4.2 Additional Limitations. Company will not be obligated to indemnify, or advance expenses to, Indemnitee with respect to: 

(i) any Proceeding initiated by Indemnitee (except with respect to a Proceeding brought to enforce or interpret this
Agreement or to enforce any other right to indemnification or expense advancement as set forth below), unless that Proceeding was authorized or consented to by the Board of Directors.

 

  
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 (ii) any Proceeding instituted by Indemnitee to enforce or interpret
this Agreement or to enforce any other right to indemnification or expense advancement, unless Indemnitee is successful in that Proceeding, or unless and to the extent that the court in that Proceeding determines that, despite Indemnitee’s
failure to establish their right to indemnification, Indemnitee is entitled to indemnity for those expenses in view of all of the relevant circumstances; provided, however, that nothing in this Section 4.2(ii) is intended to limit
Company’s obligation with respect to the advancement of expenses to Indemnitee in connection with any such Proceeding instituted by Indemnitee to enforce or interpret this Agreement or enforce any other right to indemnification or expense
advancement, as provided in Section 6; 
 (iii) any Proceeding with respect to which final judgment is
rendered against Indemnitee for payment or an accounting of profits arising from the purchase or sale by Indemnitee of securities in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended, or any similar successor
statute. 
 (iv) any Proceeding involving the enforcement of non-competition, non-solicitation,
non-disparagement, or non-disclosure agreements or similar provisions of employment, consulting, or similar agreements the Indemnitee may be a party to with Company, any subsidiary or affiliate of Company, or any other applicable foreign or domestic
corporation, partnership, joint venture, trust, or other enterprise, if any. 
 5. Notification and Defense of Claim. 

5.1 Notification. Promptly after receipt by Indemnitee of notice of the commencement of any Proceeding, if a claim with respect
to that Proceeding is to be made by Indemnitee against Company under this Agreement, Indemnitee will notify Company of the commencement of the Proceeding, but the failure to so notify Company will not relieve Company from any liability that it may
have to Indemnitee otherwise under this Agreement. With respect to any such Proceeding as to which Indemnitee so notifies Company: 
 (i) Company will be entitled to participate in the Proceeding at its own expense; and 
 (ii) except as otherwise provided below, to the extent that it may desire, Company may assume the defense of the Proceeding. 
 5.2 Company Acknowledgment. Promptly after receipt by Company of notice of the commencement of any Proceeding, and no later than thirty (30) days following that receipt, Company will
acknowledge in writing to Indemnitee its obligations to indemnify Indemnitee and advance expenses with respect to that Proceeding and otherwise confirm its obligations under this Agreement with respect to that Proceeding. If Company fails to
acknowledge in writing its obligations within that thirty (30) day period, it will be conclusively presumed that Company has acknowledged that it is obligated to indemnify Indemnitee and advance expenses with respect to that Proceeding, and
Company will not, and will be precluded and estopped from, denying or seeking to avoid those obligations in that Proceeding, and, by this Agreement, Company releases Indemnitee from any claim or action to avoid those obligations under those
circumstances.

 
If Company denies or otherwise fails to honor its obligations under this Agreement, Indemnitee may enforce this Agreement in any court of competent jurisdiction. Company will have the burden of
proving that Indemnitee is not entitled to indemnification or expense advancement under those circumstances. 
 5.3 Payment
of Certain Legal Expenses. After notice from Company to Indemnitee of its election to assume the defense of a Proceeding, Company will not be liable to Indemnitee under this Agreement for any legal or other expenses subsequently incurred by
Indemnitee in connection with that defense other than reasonable costs of investigation or as otherwise provided below. Indemnitee will have the right to employ counsel of their choosing in that Proceeding, but the fees and expenses of that counsel
incurred after notice from Company of its assumption of the defense will be at the Indemnitee’s expense unless (i) the employment of counsel by Indemnitee has been authorized in writing by Company, (ii) Company and Indemnitee
reasonably conclude that there may be a conflict of interest between Company and Indemnitee in the conduct of the defense; or (iii) Company will not in fact have employed counsel to assume the defense, in each of which case the Company will pay
the reasonable fees and expenses of Indemnitee’s counsel. In addition, without the written consent of Indemnitee, Company will not be entitled to assume the defense of any claim brought by or in the right of Company. 

5.4 Settlements. Company will not be liable to Indemnitee under this Agreement for any amounts paid in settlement of a Proceeding
without its prior written consent, unless it is determined that Company wrongly refused to indemnify Indemnitee or advance expenses with respect to that Proceeding. Company will not settle any such Proceeding in any manner that would impose any
penalty or limitation on Indemnitee without Indemnitee’s prior written consent. Neither Company nor Indemnitee unreasonably will withhold its or their consent to any proposed settlement. 
 6. Prepayment of Expenses. Unless Indemnitee otherwise elects, expenses incurred in defending any Proceeding, including expenses in pursuing appeals and expenses incurred by Indemnitee in enforcing
any right to indemnification or expense advancement under this Agreement or otherwise, will be paid by Company, promptly upon demand by Indemnitee, in advance of the final disposition of that Proceeding upon receipt by Company of a written
affirmation of Indemnitee’s good faith belief that their conduct does not constitute behavior of the kind described in Section 4 of this Agreement and a written undertaking by Indemnitee, executed personally or on their behalf, to repay
any advances if it is finally determined that they are not entitled to be indemnified by Company under this Agreement. That undertaking will be accepted without reference to the financial ability of Indemnitee to make that repayment. Advances will
be unsecured and interest-free. At Indemnitee’s election, Company will pay those expenses directly to the professionals, service providers, or other persons from which they were incurred and not to Indemnitee as reimbursement for payments made
by Indemnitee to those persons. In any case, any such payment is, and will be deemed to be, a payment in the ordinary course of business pursuant to the preexisting terms of this Agreement, which Agreement terms and payments are a necessary and
appropriate commitment and expense of Company in order to secure the services of Indemnitee. 

 

  
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 7. Contribution. In order to provide for just and equitable contribution in circumstances in which
the indemnification provided for in this Agreement is held by a court of competent jurisdiction to be unavailable to Indemnitee in whole or in part, in that case, Company will, to the fullest extent permitted by law, contribute to the payment of
Indemnitee’s Losses with respect to any Proceeding brought against Indemnitee by reason of Indemnitee’s Service in an amount that is just and equitable under the circumstances, taking into account, among other things, contributions by
other directors and officers of Company or others pursuant to indemnification agreements or otherwise; provided, that, without limiting the generality of the foregoing, that contribution will not be required where that holding by the court is
due to any limitation on indemnification set forth in Section 4. 
 8. Continuation of Indemnity. All agreements and obligations of
Company contained in this Agreement will continue during the period in which Indemnitee is a director or officer of Company and subsequently so long as Indemnitee is subject to any Proceeding by reason of Indemnitee’s Service. 

9. Reliance; Enforcement. Company has entered into this Agreement in order to induce Indemnitee to serve or to continue to serve as a director or
officer of Company and acknowledges that Indemnitee is relying upon this Agreement in continuing in such capacity. Company agrees that its obligations set forth in this Agreement are unique and special, and that failure of Company to comply with the
provisions of this Agreement will cause irreparable and irremediable injury to Indemnitee, for which a remedy at law will be inadequate. As a result, in addition to any other right or remedy Indemnitee may have at law or in equity with respect to
breach of this Agreement, Indemnitee will be entitled to injunctive or mandatory relief directing specific performance by Company of its obligations under this Agreement. 
 10. Miscellaneous. 
 10.1 Applicable Law. This Agreement will be
governed by and construed in accordance with the laws of the State of Georgia, without reference to its conflict of laws rules. 
 10.2 Dispute Resolution. Exclusive venue for any dispute arising under or in connection with this Agreement will be in the Federal District Court for the Northern District of Georgia or the
Superior Court of Fulton County, Georgia. By this Agreement, each Party expressly agrees that those courts will have personal jurisdiction and venue with respect to that Party, and each Party submits to the personal jurisdiction and venue of those
courts and waives any objection based on inconvenient forum. 

 10.3 Nonexclusivity; Supersession of Prior Indemnification Agreement. The
provisions for indemnification and advancement of expenses set forth in this Agreement will not be deemed exclusive of any other rights that Indemnitee may have under or pursuant to any provision of law, Company’s Articles of Incorporation or
Bylaws, any insurance policy of Company or its subsidiaries or affiliates, in any court in which a Proceeding is brought, the vote of the Corporation’s shareholders or disinterested directors, other agreements, or otherwise. However, no
amendment or alteration of the Corporation’s Articles of Incorporation or Bylaws or any other agreement will adversely affect the rights provided to Indemnitee under this Agreement. This Agreement supersedes any prior indemnification agreement
between Indemnitee and Company. 
 10.4 Invalidity of Provisions. The provisions of this Agreement are severable. If for
any reason a court finds that any provision in this Agreement is unenforceable in whole or in part, then the court will modify that provision to the extent necessary to render the provision enforceable while, to the extent possible, preserving the
original intent of the Parties, and the remaining provisions will continue in full force and effect without being impaired or invalidated in any way. 
 10.5 Amendments; Waiver. This Agreement may be amended or modified, in whole or in part, only by a written amendment signed by Indemnitee and, on behalf of Company, by an officer of Company acting
with specific authorization and approval of the Company’s Board of Directors or the Board’s Compensation Committee, and no term of this Agreement may be waived except in a written wavier signed by the Party waiving the benefit of that term
(and in the case of Company, with the specific authorization of the Board or the Committee). No failure on the part of either Party to exercise any right will operate as a continuing waiver of that right or a waiver of that Party’s right to
exercise the same, a similar, or any other right in the future. 
 10.6 Assignment; Binding Effect. Neither Party has
the right to assign its rights or delegate its duties under this Agreement, and any attempted assignment or delegation will be void; provided, however, that Company has the right to assign its rights and delegate its duties under this Agreement to a
Person or Persons that purchase all or substantially all of the assets or stock of Company. Any attempt to assign or delegate in violation of the foregoing restrictions will be null and void. This Agreement will binding upon, inure to the benefit
of, and be enforceable by the Parties and their respective heirs, legal representatives, successors, and permitted assignees. Company will require and cause any direct or indirect successor (whether by purchase, merger, consolidation, or otherwise)
to all or substantially all of the assets or stock of Company, by written agreement in form and substance reasonably satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that
Company would be required to perform if no such succession had taken place. 

 

  
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 10.7 Headings; Personal Pronouns. The section headings in this Agreement are for
reference purposes only and are not intended in any way to describe, interpret, define, or limit the extent or intent of all or any portion of this Agreement. Plural personal pronouns such as “they” and “their” sometimes are used
in this Agreement as substitutes for singular personal pronouns in order to avoid having to use gender specific personal pronouns such as “he” or “his” or “she” or her.” 

10.8 Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original and both of which
together will constitute one and the same instrument. 

 10.9 Representation of Authority. The official executing this Agreement on behalf
of Company represents and warrants that they have the requisite authority to do so and fully bind Company. 
 10.10 No Right
to Employment Created. Nothing in this Agreement is intended to create in Indemnitee any right to employment or continued employment.

 

  
 A-4Unassociated Document

Exhibit 4.1

 

NEITHER THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

 

PREMIER BRANDS, INC.

 

PROMISSORY NOTE

 

Date of Issuance: ______________ Principal Amount: $ ___________

FOR VALUE RECEIVED Premier Brands, Inc., a Wyoming corporation (the “Company”), promises to pay to _________________(“Holder”), or its registered assigns, the principal sum of ________________ Dollars ($_____________) (as reduced pursuant to the terms hereof pursuant to prepayment, conversion or otherwise, the “Principal”) when due, whether upon the Maturity Date (as defined below), acceleration, prepayment or otherwise (in each case in accordance with the terms hereof) and to pay interest (“Interest”) on any outstanding Principal at the applicable Interest Rate (as defined below) from the date set out above as the Issuance Date (the “Issuance Date”) until the same becomes due and payable, whether upon the Maturity Date, acceleration, conversion, prepayment or otherwise (in each case in accordance with the terms hereof).

 

Section 1.             Payment of Principal.  On the Maturity Date, the Company shall pay to the Holder an amount in cash representing all outstanding Principal, accrued and unpaid Interest and accrued and unpaid late charges on such Principal and Interest.  For purposes of this Note, “Maturity Date” means ______________.

 

Section 2.            Interest; Interest Rate.  Interest on this Note shall commence accruing on the Issuance Date at the Interest Rate (as defined below) on the outstanding Principal amount from time to time and shall be computed on the basis of a 365-day year and shall compound each calendar quarter and shall be payable in accordance with the terms of this Note and shall be payable to the Holder of this Note on the Maturity Date.  For purposes of this Note, “Interest Rate” means ten percent (10%) per annum.

 

Section 3.             Payment.  Payments due hereunder shall be made in lawful tender of the United States.  All payments due hereunder shall be made by the Company to Holder at the address set forth in Section 17 below, or at such other place as the Holder may from time to time designate in writing.

 

  

  

  

 

Section 4.             Conversion Right.

 

(a)           Subject to other provisions of Section 4 hereof, at any time or times on or after the Issuance Date, the Holder shall be entitled to convert any portion of the outstanding and unpaid Conversion Amount (as defined below) into validly issued, fully paid and non-assessable shares of the Company’s common stock, par value per share $0.001 (the “Common Stock”) at the Conversion Rate (as defined below) by (i) delivering written notice to the Company that such Holder elects to exercise the conversion right pursuant to this Section 4(a) and specifying the Conversion Amount to be converted and the name or names (with address) in which a certificate or certificates for shares of Common Stock are to be issued (the “Conversion Notice”); and (ii)  surrendering this Note to the Company.  For purpose of this Note, “Conversion Amount” means the portion of the Principal to be converted plus all accrued and unpaid Interest with respect to such portion of the Principal and accrued and unpaid late charges with respect to such portion of such Principal and such Interest, if any.  For purposes of this Note, “Conversion Rate” means the number of shares of Common Stock issuable upon conversion of any Conversion Amount determined by dividing (x) such Conversion Amount by (y) $0.007, subject to adjustment as provided herein (the “Conversion Price”).

 

(b)           As soon as practicable after receipt of the Conversion Notice and the surrender of this Note for such shares of Common Stock (the “Conversion Date”), the Company shall issue and deliver to such Holder, or to his, her or its nominees, a certificate or certificates for the number of full shares of Common Stock issuable to such Holder on such conversion in accordance with the provisions hereof.  The Company shall not issue any fraction of a share of Common Stock upon any conversion.  If the issuance would result in the issuance of a fraction of a share of Common Stock, the Company shall round such fraction of a share of Common Stock up to the nearest whole share.

 

(c)           In the event of a partial conversion of this Note pursuant hereto, the Company shall issue a new Note to the Holder.  Such new Note (i) shall be of like tenor with this Note, (ii) shall have a principal amount equal to the Principal of this Note less the Conversion Amount set forth in the applicable Conversion Notice, (iii) shall have an issuance date, as indicated on the face of such new Note which is the same as the Issuance Date, and (iv) shall have the same rights and conditions as this Note.

 

(d)           Each conversion exercised in accordance with this Section 4 shall be deemed to have been effected immediately prior to the close of business on the Conversion Date.

 

Section 5.             Events of Default.  The occurrence of any of the following shall constitute an “Event of Default” under this Note:

 

(a)           The Company shall fail to pay any principal payment, interest or other payment required under the terms of this Note within sixty (60) days of the due date thereof;

 

  

  

  

 

(b)           The Company 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 its or any of its creditors, (iv) be dissolved or liquidated in full or in part, (v) become insolvent (as such term may be defined or interpreted under any applicable statute), (vi) 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 (vii) take any action for the purpose of effecting any of the foregoing;

 

(c)           Proceedings for the appointment of a receiver, trustee, liquidator or custodian of the Company 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 Company or the debts thereof under any bankruptcy, insolvency or other similar law or hereafter in effect shall be commenced and an order for relief entered or such proceeding shall not be dismissed or discharged within ninety (90) days of commencement; or

 

Section 6.             Notice of Default; Cure; Remedies.  Upon an Event of Default, the Holder shall deliver written notice of the Event of Default to the Company in accordance with Section 17 hereof (a “Default Notice”).  The Company shall have the right to cure, within the thirty (30) days following the Company’s receipt of a Default Notice (the “Cure Period”), any Event of Default.  If the Company fails to cure an Event of Default within the Cure Period, then fifteen (15) days following the end of the Cure Period Holder may declare all outstanding obligations payable by the Company hereunder to be immediately due and payable without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived and, in addition to the foregoing remedies, the Holder may exercise any other right, power or remedy granted to it or otherwise permitted to it by law, either by suit in equity or by action at law, or both.

 

Section 7.             Expenses.  Upon the occurrence or existence of an uncured Event of Default, and after the Cure Period has elapsed, Holder shall be entitled to recover from the Company all of Holder’s costs of collection, including without limitation, the Holder’s reasonable attorneys’ fees (whether incurred in connection with any judicial, bankruptcy, reorganization, administrative, appeals or other proceedings and whether such fees or expenses arise before proceedings are commenced or after entry of any judgment), and all other costs or expenses incurred in connection therewith.

 

Section 8.             No Voting or Dividend Rights; Limitation of Liability.  Nothing contained in this Note shall be construed as conferring upon the Holder the right to vote or to consent or to receive notice as a member of the Company or any other matters or any rights whatsoever as a member of the Company.  No dividends shall be payable or accrued in respect of this Note, the interest represented hereby or the underlying securities until, and only to the extent that, the conversion rights of this Note shall have been exercised.

 

Section 9.             Maximum Interest.  Notwithstanding any other provisions of this Note, any interest, fees, or charges payable by reason of the indebtedness evidenced by this Note shall not exceed the maximum permitted by law.

 

  

  

  

 

Section 10.            Successors and Assigns.  The Company may not sell, transfer or otherwise dispose of this Note without the prior written consent of the Holder.  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.

 

Section 11.            Construction; Headings.  This Note shall be deemed to be jointly drafted by the Company and the Holder and shall not be construed against any person as the drafter hereof. The headings of this Note are for convenience of reference and shall not form part of, or affect the interpretation of, this Note.

 

Section 12.            Severability.  Any provision of this Note that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof but shall be interpreted as if it were written so as to be enforceable to the maximum extent permitted by applicable law, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.  To the extent permitted by applicable law, the parties hereby waive any provision of law which renders any provision hereof prohibited or unenforceable in any respect.

 

Section 13.            Cancellation.  After all principal, accrued interest, late charges and other amounts at any time owed on this Note have been converted or paid in full, this Note shall automatically be deemed canceled, shall be surrendered to the Company for cancellation and shall not be reissued.

 

Section 14.            Amendments; Waivers.  Any term of this Note may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the Purchaser.

 

1.1           Notices.  All notices, requests, demands and other communications under this Note shall be in writing and shall be deemed to have been duly given on the date of service if served personally on the party to whom notice is to be given, on the first business day after delivery thereof to a recognized overnight delivery service for next day delivery with all charges prepaid or billed to the account of the sender, or on the third day after mailing if mailed to the party to whom notice is to be given, by first class mail, registered or certified, postage prepaid, and properly addressed as follows:

 

(a)           If to the Company:

 

Premier Brands, Inc.

4364 Bonita Road, No. 424,

Bonita, California 91902

 

Attn:  President

 

(b)           If to the Holder:

 

__________________

__________________

__________________

Attention:  _______

  

  

  

 

or to such other address as either party shall have specified by notice in writing given to the other party.

 

Section 15.            Governing Law; Consent to Jurisdiction; Waiver of Jury Trial.  This Note shall be governed by, and construed in accordance with, the internal laws of the State of Wyoming without regard to the choice of law principles thereof.  Each of the Company and the Holder irrevocably submits to the exclusive jurisdiction of the courts of the State of Wyoming for the purpose of any suit, action, proceeding or judgment relating to or arising out of this Note and the transactions contemplated hereby.  Service of process in connection with any such suit, action or proceeding may be served on the Company and the Holder, as applicable, anywhere in the world by the same methods as are specified for the giving of notices under the Purchase Agreement.  Each of the Company and the Holder irrevocably consents to the jurisdiction of any such court in any such suit, action or proceeding and to the laying of venue in such court.  Each of the Company and the Holder irrevocably waives any objection to the laying of venue of any such suit, action or proceeding brought in such courts and irrevocably waives any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.  EACH OF THE COMPANY AND THE HOLDER WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO THIS NOTE AND REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER.

 

[Signature Follows On Next Page]

 

  

  

  

IN WITNESS WHEREOF, the Company has caused this Note to be issued as of the date first written above.

 

	
PREMIER BRANDS, INC.

	
 

By:

	  
	
Name:

	
Jorge Olson

	
Title:

	
President and Chief Executive Officer

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