Document:

exh101.htm

 

EXHIBIT 10.1

 

 

 

 

 

April 8, 2014

 

 

 

Mr. Glen W. Brown

401 Langley Drive

Lafayette, LA 70502

 

Dear Mr. Brown,

 

On behalf of Home Federal Bank (“the Bank”) and Home Federal Bancorp, Inc. of Louisiana (the “Company”), I am pleased to convey to you in writing our employment offer for the position of Senior Vice President and Chief Financial Officer of the Bank and the Company. As Senior Vice President and Chief Financial Officer you would report directly to me and as a senior executive it is an exempt position.  Should you accept this offer of employment, your first day of employment is anticipated to be on or about July 16, 2014.

 

This letter outlines the terms of your employment offer with the Bank and the Company and your compensation and benefits as set forth below:

 

 

Title:                                 Sr. Vice President and

 Chief Financial Officer

 

            Salary:                                        $150,000.00, annualized

 

	
  

	
Stock Award:

	
Within 30 business days of your start date, you will be granted a restricted stock award covering 3,500 shares of the Company’s common stock (the “Stock Award”), subject to approval by the Compensation Committee of our Board of Directors.  The Stock Award will vest in equal annual installments over a 5-year period, with the first 20% of the shares subject to the Stock Award vesting on the first anniversary of the date of grant.  All vesting is subject to you remaining employed with the Bank and the Company through the relevant vesting dates.

 

	
  

	
Stock Option:

	
Within 30 business days of your start date, you will be granted a stock option to purchase 10,500 shares of the Company’s common stock (the “Option”) subject to approval by the Compensation Committee of our Board of Directors.  The Option will be priced at the closing price on the NASDAQ on the date of the grant.  20% of the shares subject to this Option shall vest on the one year anniversary of the date of grant. Thereafter, 20% of the shares subject to the Option shall vest on each anniversary of the date of grant; so as to be 100% vested on the five year anniversary of the date of grant.  All vesting is subject to you remaining employed with the Bank and the Company through the relevant vesting dates.

 

 

  

  

  

Mr. Glen W. Brown

April 8, 2014

Page 2

 

 

 

	
  

	
Incentive:

	
You are guaranteed a $15,000, incentive bonus in 2014.  Any bonus in subsequent years would be based on your annual performance review.

 

	
  

	
Change of Control:

	
You will be entitled to enter into a change in control agreement that will provide if your employment is terminated as a result of a change in control, as defined in the agreement, you will receive a one-time severance payment equal to 12 months of your then-current base salary, subject to annual renewal by the Compensation Committee of our Board of Directors.

 

	
  

	
Relocation:

	
The Bank will reimburse you for certain documented expenses to help defray the cost of your personal move and relocation.  Temporary housing is covered up to $5,000, paid in monthly installments of $1,000.  Your expense for transporting furnishings and personal belongings, within your current household, is covered up to $5,000.  The Bank will cover up to a maximum of $5,000 for invoiced expenses incurred in selling your primary residence. The Bank will also reimburse your expenses of up to $1,000, for you and your family to visit the area. Certain conditions apply to each of these benefits.

	
  

	 

	
  

	
Vacation:

	
2 weeks (10 days) in 2014, 3 weeks (15 days) per year beginning January 1, 2015.  Employees are eligible for paid vacation leave after 90 days of employment.

 

	
  

	
Sick Leave:

	
12 days per year, cumulative to a maximum of 30 days.  Employees are eligible for paid sick leave after 90 days of employment.

 

	
  

	
Benefits:

	
Eligible to contribute to the Home Federal Bank 401(k) plan on the 1st day of the month following 90 days of employment.  Eligible for Safe Harbor matching contributions following one (1) year of employment.  Home Federal matches 100% on the first 6% you contribute to your 401(k) savings account.

 

	
  

	
Eligible for Home Federal Bank ESOP plan following one (1) year of employment.

 

	
  

	
Group health, dental, and vision coverage available on 1st day of the month following 30 days of employment.

 

 

 

  

  

  

Mr. Glen W. Brown

April 8, 2014

Page 3

 

 

	
  

	
STD, LTD, AD&D, and Life Insurance coverage provided on 1st day of month following 30 days of employment.

 

This formal notification of our offer of employment is subject to the terms set forth in the Home Federal Bank Employment Application and is contingent upon satisfactory background verification, receipt of an original application, a final review of references, and the approval of the Compensation Committee of the Board of Directors.

 

For purposes of stock ownership, please be advised that “Executive Officers,” are expected to meet certain requirements. As of the beginning of each fiscal year, all Executive Officers shall hold the greater of (i) that number of shares of common stock equal in value to $50,000 or the equivalent value of in-the-money vested stock options, or (ii) 3,000 shares of common stock. The Executive Officers must attain this ownership threshold by five years after his or her acceptance of the position. The value of the shares of common stock will be calculated at the beginning of each fiscal year and will be based on the closing price on the NASDAQ, on the last day of the year.  The value of vested in-the-money stock options shall be the closing price on the NASDAQ, on the last day of the year less the exercise price. Any subsequent change in the value of the shares during such fiscal year will not affect the amount of stock that such Executive Officers must hold during that year. The Board may modify this requirement on a case by case basis if compliance reasonably creates a hardship for any such Executive Officer.

 

For purposes of federal immigration law, you will be required to provide the Bank documentary evidence of your identity and eligibility for employment in the United States. Such documentation must be provided to us within 3 business days of your date of hire, or our employment relationship with you may be terminated.

 

Please be aware that your employment with the Bank and the Company is for no specified period and constitutes at-will employment. As a result, you are free to resign at any time, for any reason or for no reason. Similarly, the Bank and the Company are free to conclude their employment relationship with you at any time, with or without cause, and with or without notice. We request that, in the event of resignation, you give the Bank and the Company at least four weeks’ notice.

 

You agree that, during the term of your employment with the Bank and the Company, you will devote substantially all of your professional time to your responsibilities at Home Federal Bank, and you will not engage in any other employment, occupation, consulting, or other business activity directly related to the business in which the Bank is now involved or becomes involved during the term of your employment, nor will you engage in any other activities that conflict with your obligations to the Bank. Additionally, as an employee of the Bank, you will be expected to abide by company rules and standards as presented in our Employee Manual and Code of Business Conduct and Ethics.

 

If you choose to accept our offer, please sign at the bottom and return to Dawn Williams, no later than 1:00 p.m., Friday, April 18, 2014.  You may return the offer in person at 222 Florida Street in Shreveport, via email at dawn.williams@hfbla.com, or by fax to 318-841-0869.  A duplicate original is enclosed for your records. This letter sets forth the terms of your employment with the Bank and supersedes any prior representations or agreements, whether written or oral, that may have been made by representatives of Home Federal Bank or Home Federal Bancorp of Louisiana.  This letter, including, but not limited to, its at-will employment provision, may not be modified or amended except by a written agreement signed by Home Federal Bank President & CEO and you.

 

 

  

  

  

Mr. Glen W. Brown

April 8, 2014

Page 4

 

 

Glen, I look forward to working with you and having you as a member of our team.  If you have any questions, please do not hesitate to contact me at (318) 841-1171.

 

Jim Barlow

 

 

 

/s/Jim Barlow

President and CEO

Home Federal Bank

 

President and COO

Home Federal Bancorp, Inc. of Louisiana

 

 

 

 

Accepted this 9th day of April, 2014

 

 

 

 

/s/Glen W. Brown            

Glen W. BrownTHE WARRANT REPRESENTED BY THIS CERTIFICATE
AND THE SECURITIES TO BE ISSUED UPON ITS EXERCISE HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 (THE
"SECURITIES ACT") OR APPLICABLE STATE SECURITIES LAWS (THE "STATE ACTS") AND SHALL NOT BE SOLD OR TRANSFERRED
UNLESS SUCH SALE OR TRANSFER HAS BEEN REGISTERED UNDER THE SECURITIES ACT AND STATE ACTS, OR AN EXEMPTION FROM THE REGISTRATION
REQUIREMENTS IS AVAILABLE, THE AVAILABILITY OF WHICH MUST BE ESTABLISHED TO THE SATISFACTION OF THE COMPANY.

 

COMMON STOCK PURCHASE WARRANT

 

	Warrant No. 2014C - ___________	Number of Shares:   _______________   

 

 

 INVESTVIEW, INC. 

COMMON STOCK, PAR VALUE $.001 PER
SHARE

VOID AFTER
5:00 P.M. EASTERN STANDARD TIME 

July 1, 2019

 

This Warrant is issued
to _ __ ("Holder") by Investview, Inc., a Nevada corporation (hereinafter with its successors called the
"Company").

 

For value received
and subject to the terms and conditions hereinafter set out, Holder is entitled to purchase from the Company at a purchase price
per share of $1.50, __________________fully paid and non-assessable shares of common stock, par value $.001 per share
("Common Shares") of the Company. Such purchase price per Common Share, adjusted from time to time as provided herein,
is referred to as the "Purchase Price."

 

1.The Holder may
exercise this Warrant, in whole or in part, upon surrender of this Warrant, with the exercise form annexed hereto duly executed,
at the office of the Company, or such other office as the Company shall notify the Holder in writing, together with a certified
or bank cashier's check payable to the order of the Company in the amount of the Purchase Price times the number of Common Shares
being purchased.

 

2.The person or
persons in whose name or names any certificate representing Common Shares is issued hereunder shall be deemed to have become the
holder of record of the Common Shares represented thereby as of the close of business on the date on which this Warrant is exercised
with respect to such shares, whether or not the transfer books of the Company shall be closed. Until such time as this Warrant
is exercised or terminates, the Purchase Price payable and the number and character of securities issuable upon exercise of this
Warrant are subject to adjustment as hereinafter provided.

 

3.Unless previously
exercised, this Warrant shall expire at 5:00 p.m. Eastern Standard Time, on July 1, 2019, and shall be void thereafter.

 

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4.The Company covenants
that it will at all times reserve and keep available a number of its authorized Common Shares, free from all preemptive rights,
which will be sufficient to permit the exercise of this Warrant. The Company further covenants that such shares as may be issued
pursuant to the exercise of this Warrant will, upon issuance, be duly and validly issued, fully paid and nonassessable and free
from all taxes, liens, and charges.

 

5.If the Company
subdivides its outstanding Common Shares, by split-up or otherwise, or combines its outstanding Common Shares, the Purchase Price
then applicable to shares covered by this Warrant shall forthwith be proportionately decreased in the case of a subdivision, or
proportionately increased in the case of a combination.

 

6.If (a) the Company
reorganizes its capital, reclassifies its capital stock, consolidates or merges with or into another corporation (but only if the
Company is not the surviving corporation and no longer has more than a single shareholder) or sells, transfers or otherwise
disposes of all or substantially all its property, assets, or business to another corporation, and (b) pursuant to the terms of
such reorganization, reclassification, merger, consolidation, or disposition of assets, shares of common stock of the successor
or acquiring corporation, or any cash, shares of stock, or other securities or property of any nature whatsoever (including warrants
or other subscription or purchase rights) in addition to or in lieu of common stock of the successor or acquiring corporation (“Other
Property”), are to be received by or distributed to the holders of Common Shares, then (c) Holder shall have the right thereafter
to receive, upon exercise of this Warrant, the same number of shares of common stock of the successor or acquiring corporation
and Other Property receivable upon such reorganization, reclassification, merger, consolidation, or disposition of assets as a
holder of the number of Common Shares for which this Warrant is exercisable immediately prior to such event. At the time of such
reorganization, reclassification, merger, consolidation or disposition of assets, the successor or acquiring corporation shall
expressly assume the due and punctual observance and performance of each and every covenant and condition of this Warrant to be
performed and observed by the Company and all the obligations and liabilities hereunder, subject to such modifications as may be
deemed appropriate (as determined by resolution of the Board of Directors of the Company) in order to adjust the number of shares
of the common stock of the successor or acquiring corporation for which this Warrant is exercisable. For purposes of this section,
"common stock of the successor or acquiring corporation" shall include stock of such corporation of any class which is
not preferred as to dividends or assets over any other class of stock of such corporation and which is not subject to redemption
and shall also include any evidences of indebtedness, shares of stock, or other securities which are convertible into or exchangeable
for any such stock, either immediately or upon the arrival of a specified date or the happening of a specified event and any warrants
or other rights to subscribe for or purchase any such stock. The foregoing provisions of this section shall similarly apply to
successive reorganizations, reclassifications, mergers, consolidations, or disposition of assets.

 

7.Intentionally
left blank.

 

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8.In no event shall
any fractional Common Share of the Company be issued upon any exercise of this Warrant. If, upon exercise of this Warrant as an
entirety, the Holder would, except as provided in this Section 8, be entitled to receive a fractional Common Share, then the Company
shall issue the next higher number of full Common Shares, issuing a full share with respect to such fractional share. If this Warrant
is exercised at one time for less than the maximum number of Common Shares purchasable upon the exercise hereof, the Company shall
issue to the Holder a new warrant of like tenor and date representing the number of Common Shares equal to the difference between
the number of shares purchasable upon full exercise of this Warrant and the number of shares that were purchased upon the exercise
of this Warrant.

 

9.Whenever the
Purchase Price is adjusted, as herein provided, the Company shall promptly deliver to the Holder a certificate setting forth the
Purchase Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment.

 

10.The Company
will maintain a register containing the names and addresses of the Holder and any assignees of this Warrant. Holder may change
its address as shown on the warrant register by written notice to the Company requesting such change. Any notice or written communication
required or permitted to be given to the Holder may be delivered by confirmed facsimile or telecopy or by a recognized overnight
courier, addressed to Holder at the address shown on the warrant register.

 

11. This Warrant
has not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities
laws ("State Acts") or regulations in reliance upon exemptions under the Securities Act, and exemptions under the State
Acts. Subject to compliance with the Securities Act and State Acts, this Warrant and all rights hereunder are transferable in whole
or in part, at the office of the Company at which this Warrant is exercisable, upon surrender of this Warrant together with the
assignment hereof properly endorsed.

 

12. In case this
Warrant shall be mutilated, lost, stolen, or destroyed, the Company may issue a new warrant of like tenor and denomination and
deliver the same (a) in exchange and substitution for and upon surrender and cancellation of any mutilated Warrant, or (b) in lieu
of any Warrant lost, stolen, or destroyed, upon receipt of evidence satisfactory to the Company of the loss, theft or destruction
of such Warrant (including a reasonably detailed affidavit with respect to the circumstances of any loss, theft, or destruction)
and of indemnity with sufficient surety satisfactory to the Company.

 

13.Unless a current
registration statement under the Securities Act, shall be in effect with respect to the securities to be issued upon exercise of
this Warrant, the Holder, by accepting this Warrant, covenants and agrees that, at the time of exercise hereof, and at the time
of any proposed transfer of securities acquired upon exercise hereof, the Company may require Holder to make such representations,
and may place such legends on certificates representing the Common Shares issuable upon exercise of this Warrant, as may be reasonably
required in the opinion of counsel to the Company to permit such Common Shares to be issued without such registration.

 

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14. This Warrant
does not entitle Holder to any of the rights of a stockholder of the Company.

 

15.Nothing expressed
in this Agreement and nothing that may be implied from any of the provisions hereof is intended, or shall be construed, to confer
upon, or give to, any person or corporation other than the parties to this Agreement any covenant, condition, stipulation, promise,
or agreement contained herein, and all covenants, conditions, stipulations, promises and agreements contained herein shall be for
the sole and exclusive benefit of the parties hereto and their respective successors and assigns.

 

16.The provisions and terms of
this Warrant shall be construed in accordance with the laws of the State of NEW YORK.

 

IN WITNESS WHEREOF,
this Warrant has been duly executed by the Company as of DATE June __, 2014.

 

Investview, Inc.

 

 

 

By: _______________________________

William Kosoff

Interim Chief Financial Officer

 

 

HOLDER:

 

 

_______________________________

 

 

 

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FORM OF EXERCISE

 

 

Date: ____________________

 

 

To:Global Investor Services, Inc.

 

 

The undersigned hereby
subscribes for _______ shares of common stock of Investview, Inc. covered by this Warrant and hereby delivers $___________ in full
payment of the purchase price thereof. The certificate(s) for such shares should be issued in the name of the undersigned or as
otherwise indicated below:

 

 

____________________________

Signature:

 

 

____________________________

Printed Name

 

 

 

____________________________

Name for Registration,
if different

 

 

____________________________

Street Address

 

____________________________

City, State and Zip
Code

 

____________________________

Social Security Number

 

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ASSIGNMENT

 

 

For Value Received,
the undersigned hereby sells, assigns and transfers unto the assignee(s) set forth below the within Warrant certificate, together
with all right, title and interest therein, and hereby irrevocably constitutes and appoints ___________________________________
attorney, to transfer the said Warrant on the books of the within-named Company with respect to the number of Common Shares set
forth below, with full power of substitution in the premises.

 

		Social Security or	 	 
		other Identifying	 	 
	Name(s) of	Number(s) of	No. of	 
	Assignee(s)	Assignee(s)	Address	Shares

 

 

 

 

Dated: ______________________________

 

 

 

 

_________________________________________

Signature

 

NOTICE: THE SIGNATURE TO THIS
ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WARRANT IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT,
OR ANY CHANGE WHATSOEVER.

 

 

_________________________________________

Print Name and Title

 

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