Document:

EX-10.25

 Exhibit 10.25 

BlueMountain Capital Management, LLC 

280 Park Avenue, 12th Floor East 

New York, NY 10017 
 July 25, 2014

 MedEquities Realty Trust, Inc. 
 201 Seaboard
Lane, Suite 100 
 Franklin, Tennessee 37067 

BlueMountain Rights Agreement 

Ladies and Gentlemen: 
 Reference is made to
that certain preliminary offering memorandum, dated July 1, 2014, as supplemented by the preliminary offering memorandum supplement dated the date hereof (the “OM”), of MedEquities Realty Trust, Inc. (the
“Company”) describing an offering by the Company of its common stock, par value $0.01 per share, pursuant to various exemptions from registration under the Securities Act of 1933, as amended (the “Offering”). Capitalized
terms used herein but not herein defined shall have the meanings given to such terms in the OM. 
 If BlueMountain acquires at least 20% of
the shares of the Company’s common stock in the Offering, BlueMountain will be granted representation on the Company’s Board of Directors (the “Board”) and each of the Company’s risk committee (the “Risk
Committee”) and investment committee (the “Investment Committee”), and such other rights, each as set forth below. 

In connection therewith, the Company and BlueMountain hereby agree as follows: 

Board of Directors 
 So
long as BlueMountain maintains at least one designee on the Board, the number of members constituting the Board shall be no more than seven (7), subject to increase or decrease by the Board from time-to-time, in accordance with the Company’s
charter and bylaws, provided that any such increase or decrease shall require the approval of at least one BlueMountain board designee. 

Upon the closing of the Offering, the Company shall promptly cause two (2) persons (in the aggregate) designated by BlueMountain to be
appointed to the Board. Following the closing of the Offering, for any meeting (or consent in lieu of a meeting) of the Company’s stockholders for the election of members of the Board, (i) so long as BlueMountain, together with its
affiliates, as of the date of the mailing of the Company’s definitive proxy statement in connection with such meeting (the “Mailing Date”) (A) continues to own 75% or more of the number of shares purchased by it in the
Offering or (B) beneficially owns at least 10% of the outstanding common stock of the Company, the Company shall include 2 persons designated by BlueMountain as members of the slate of Board nominees proposed by the Board for election
by the Company’s stockholders and, subject to the Board’s duties under Maryland 

 
law, shall recommend that the Company’s stockholders vote in favor of the election of both such nominees, (ii) so long as BlueMountain, together with its affiliates, as of the
Mailing Date (X) continues to own 50% or more of the number of shares purchased by it in the Offering or (Y) beneficially owns at least 5% of the outstanding common stock of the Company, the Company shall include one person
designated by BlueMountain as a member of the slate of Board nominees proposed by the Board for election by the Company’s stockholders and, subject to the Board’s duties under Maryland law, shall recommend that the Company’s
stockholders vote in favor of the election of such nominee, and (iii) if BlueMountain, together with its affiliates, as of the Mailing Date (I) has sold more than 50% of its initial investment in the Company and (II) beneficially owns less
than 5% of the outstanding common stock of the Company, the Company shall not be required to include any persons designated by BlueMountain as members of the slate of Board nominees. 

Investment Committee 
 The
Investment Committee will be comprised of five (5) members. 
 For so long as BlueMountain is entitled to two (2) nominees to the
Board as provided above, two (2) of the members of the Investment Committee will be appointed by BlueMountain. So long as BlueMountain is entitled to one (1) nominee to the Board as provided above, one (1) member of the Investment
Committee will be appointed by BlueMountain. 
 For so long as BlueMountain maintains a designee on the Investment Committee: 

Other than with respect to the Kentfield Rehab & Specialty Hospital, LTACH, Mountain’s Edge Hospital, Magnolia Place of
Spartanburg SNF described in the OM as part of the Company’s initial portfolio, any proposed acquisition by the Company shall be presented to the Investment Committee for approval (in addition to any approval that may be required by the Board
of Directors of the Company); provided, that, BlueMountain shall complete its due diligence of any acquisitions described in the OM prior to the closing of the Offering. 

Any acquisition for aggregate consideration (including any assumed indebtedness) of less than 5% of the Company’s assets on a pro forma
basis giving effect to any such acquisition shall require the approval of a majority of the members of the Investment Committee. 
 Any
acquisition for aggregate consideration (including any assumed indebtedness) of greater than 5% of the Company’s assets on a pro forma basis giving effect to any such acquisition shall require the approval of four (4) members of the
Investment Committee. 
 Any acquisition for aggregate consideration (including any assumed indebtedness) of greater than 15% of the
Company’s assets on a pro forma basis giving effect to any such acquisition shall require the unanimous approval of the Investment Committee. 

  
 2 

 Risk Committee 

The Company and BlueMountain shall agree on the number of members comprising the Risk Committee. 

The Risk Committee shall be chaired by the BlueMountain designee. 

The Risk Committee shall be responsible for setting and reinforcing underwriting standards, surveillance policies and exposure limits
(geography, operator, asset type, etc.) across acquisitions and exposures in the portfolio and also for reviewing and optimizing ALM strategy. 

The Company agrees to incorporate the understandings set forth herein into any definitive policies governing the Investment Committee and Risk
Committee. 
 Equity Offering Right 

In connection with a potential initial public offering of the Company’s common stock pursuant to which the Company issues and sells,
pursuant to a registration statement filed with the Securities and Exchange Commission (an “IPO”), BlueMountain shall have the option and right (but not the obligation) to purchase in a concurrent private placement in the aggregate up to
BlueMountain’s Pro Rata Portion of such IPO at the same price and the same terms and conditions as offered to other investors in the IPO, without the payment by the Company of any underwriting discounts or commissions. 

“Pro Rata Portion” means, with respect to BlueMountain at a given time with respect to the IPO, a number of shares of common
stock equal to the product of (a) the number of shares of common stock proposed to be issued, sold or placed in the IPO, multiplied by (b) a fraction, the numerator of which is the aggregate number of shares of common stock beneficially
owned by BlueMountain immediately prior to the IPO, and the denominator of which is the aggregate number of shares of outstanding common stock immediately prior to the IPO. 

Equity Issuances 
 For so
long as BlueMountain beneficially owns greater than 10% of the outstanding common stock of the Company, without the approval of at least one BlueMountain board designee, the Company shall not undertake any offering of common stock (other than
issuances pursuant to the Company’s equity compensation plans) at a gross price per share or deemed price per share (i.e. conversion, exchange or exercise price) of common stock less than the lower of (i) the then current market price per
share if the Company’s common stock is then listed for trading on a national securities exchange or (ii) $15.00 per share, in each case as may be adjusted for any stock splits, stock dividends or other similar recapitalizations. 

THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF MARYLAND. 

  
 3 

 This agreement may be executed in any number of counterparts, each of which when executed will be
an original and all of which, when taken together, will constitute one agreement. Delivery of an executed counterpart of a signature page of this agreement by facsimile or other electronic transmission will be as effective as delivery of a manually
executed counterpart hereof. 
  

					
	Very truly yours,
	
	BLUEMOUNTAIN CAPITAL MANAGEMENT, LLC
		
	By:	 	 /s/ Kyle Brady

		 	 Name:
	 	Kyle Brady
		 	 Title:
	 	Assistant General Counsel & Vice President

  
 4 

 ACCEPTED AND AGREED TO AS OF THE DATE FIRST WRITTEN ABOVE: 

 

					
	MEDEQUITIES REALTY TRUST, INC.
		
	 By:
	 	 /s/ William Harlan

		 	Name:	 	William Harlan
		 	Title:	 	President

  
 5EXHIBIT 10.1

 

 

YORKSHIRE CAPITAL ADVISORS, LLC 

 

April 30, 2015

 

Via Email

Robert Sand, CEO

FBEC Worldwide, Inc.

1621 Central Avenue

Cheyenne, WY 82001

 

Re:       Exclusive Engagement Agreement

 

Dear Robert,

 

The following exclusive engagement agreement
sets forth the terms and conditions of the consultant-client relationship between Yorkshire Capital Advisors LLC (“Consultant”)
and FBEC Worldwide, Inc., (the “Client”). This agreement contains a statement of your rights and responsibilities pursuant
to services to be provided. Your signature on this document will reflect the Client's consent to be bound by the terms and conditions
contained herein. Please read and consider all provisions before signing.

 

This written engagement agreement, prepared
by the consultant, shall clearly address the objectives of representation and detail the fee arrangement, including all material
terms. These fees are not to be based on criteria apart from, or in addition to, hourly rates, such criteria (e.g., unique time
demands and/or utilization of unique expertise) shall be delineated. The Client shall receive a copy of the written engagement
agreement and any additional clarification requested and is advised not to sign any such agreement which the Client finds to be
unsatisfactory or does not understand.

 

The objective of the consultant representation
contemplated herein is to successfully provide acquisition opportunities and management services specifically related to SEC Guidelines.
The consultant may require the authorization from the Client, from time to time’ to provide written confirmation to the Issuer
authorizing the Consultant to work directly with the Issuer. As such, as your consultant, and pursuant to this agreement, I shall
take all reasonable and necessary action on your behalf in order to fulfill Client objectives in SEC compliance matters, operations
and acquisition of assets.

 

Representation will commence upon the signing
of this written engagement agreement. My representation shall continue until the Client or Consultant decides that these services
are no longer required. The consultant will provide competent representation, which requires evaluation of each investment, interaction
legal knowledge, skill, thoroughness, and preparation to handle those matters set forth in this written engagement agreement. The
consultant will act with reasonable diligence and promptness, as well as use our best efforts on behalf of the Client. The Consultant
cannot guarantee results.

 

The consultant will abide by the Client’s
decision concerning the objectives of representation and will endeavor to explain any matter to the extent reasonably necessary
to permit the client to make informed decisions regarding representation. During the course of representation and afterward,
the consultant may not use or reveal a Client’s confidence or secrets, except as required or permitted by law.

 

The consultant will keep the Client reasonably
informed about the status of representation and will promptly respond to reasonable requests for information. The Client shall
be truthful in all discussions with the consultant and both parties shall provide all information or documentation required to
enable the consultant to provide competent representation. During representation, the Client is entitled to receive all substantive
documents prepared on behalf of the Client and every document received from any other company and/or consultant of record. At the
end of the representation and on written request from the Client, the consultant will return to the client all original documents
and exhibits. In the event that the consultant withdraws from representation, or is discharged by the Client, the consultant will
return to the substituting consultant (or, if no substitutions, to the client) all original documents and exhibits within thirty
(30) days of the consultant’s withdrawal or discharge.

    	 

     

    

 

Page 2

 

The consultant cannot be required to engage
in conduct which is illegal, unethical, or fraudulent. A consultant who cannot ethically abide by his client’s directions
shall be allowed to withdraw from representation.

 

The Consultant will specifically take action
to work with each of the services mentioned herein and made on behalf of the Client. The Client agrees to pay a retainer of $225,000,
and a $30,000 per month management fee, plus 10% of the Gross Value of any Asset Acquisition. The Consultant will assist the Company
with specific compliance requirements for SEC reporting obligations, manufacturing and operations. The retainer may be paid in
partial payments. The fee for this matter will be based upon a strategy whereas a customary due diligence fee has been determined
for the work involved in coordinating the resources required in this matter.

 

In determining the reasonableness of the fees,
the following are taken into consideration: the skill and standing of the consultant, the nature of the transactions, the novelty
and difficulty of the issues involved, the amount and importance of the subject matter, the degree of responsibility involved,
the time and labor required, the usual and customary charge in the community, and the resulting benefit to you. You have the right
to review this agreement with an independent attorney if you so desire. Prior to signing, please contact us with any questions
or problems regarding this agreement.

 

	 	Yours very truly,
	 	 
	 	/s/ Donna Murtaugh
	 	Donna Murtaugh, Managing Partner

 

 

 

 

Agreed to and accepted this 30th
day of April, 2015

 

 

/s/ Robert Sand                                           

By:     Robert Sand, CEO

           FBEC Worldwide, Inc.

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