Document:

[*]: THE CONFIDENTIAL PORTION HAS BEEN OMITTED PURSUANT TO A
REQUEST FOR CONFIDENTIAL TREATMENT AND THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE COMMISSION.

 

Exhibit 10.2

 

NINTH AMENDMENT TO LEASE

 

(Norwegian Cruise Line – The Landing at
MIA)

 

THIS NINTH AMENDMENT TO
LEASE (“Amendment”) is dated effective and for identification purposes as of June 30, 2015 (the “Effective Date”),
and is made by and between SPUS7 MIAMI ACC, LP, a Delaware limited partnership (“Landlord”), and NCL (BAHAMAS) LTD.,
a Bermuda company, d/b/a Norwegian Cruise Line (“Tenant”).

 

RECITALS:

 

WHEREAS, Landlord’s
predecessor-in-interest (Hines REIT Airport Corporate Center LLC) and Tenant entered into that certain Lease Agreement dated December
1, 2006 (“Original Lease”), as amended by that certain First Amendment dated December 1, 2006, Second Amendment dated
March 20, 2007, Third Amendment dated July 31, 2007, Letter Agreement dated August 1, 2007, Fourth Amendment dated December 10,
2007, Fifth Amendment dated February 2, 2010, Sixth Amendment dated April 1, 2012, Seventh Amendment dated June 29, 2012, and Eighth
Amendment dated January 28, 2015 (collectively, the “Lease”), pertaining to the premises currently comprised of a total
of approximately 205,798 rentable square feet of space (of which 125,806 rentable square feet of space are located in 7665 Corporate
Center Drive, Miami, Florida (“Building 11”) and 72,925 rentable square feet of space are located in 7650 Corporate
Center Drive, Miami, Florida (“Building 10”) (collectively, the “Original Office Premises”), and 7,067
rentable square feet of space are located in 7245 Corporate Center Drive, Miami, Florida (“Building 3”) (“the
Warehouse Premises”). Pursuant to the Eighth Amendment, the Original Office Premises was remeasured. Accordingly, as of the
Extension Commencement Date (i.e., February 1, 2023), Tenant’s leased rentable square footage will be increased by 5,294 rentable
square feet of space in Building 11 and by 2,053 rentable square feet of space in Building 10. Additionally, on January 31, 2023,
Tenant’s lease of the Warehouse Premises shall expire. Therefore, as of the Extension Commencement Date, the total rentable
square footage for the Original Office Premises shall be 206,078 rentable square feet of space. Further, as of the Expansion
Commencement Date, Tenant shall lease from Landlord 65,862 rentable square feet of space located in 7300 Corporate Center Drive,
Miami, Florida (“Building 8”) and an additional 4,434 rentable square feet of space in Building 10. The Original
Office Premises and Building 8 premises (but not including the Expansion Premises set forth in this Amendment) are collectively
referred to herein as the “Total Premises”. Upon the Extension Commencement Date, the Total Premises shall be comprised
of approximately 276,374 rentable square feet of space (of which 131,100 rentable square feet of space are located in Building 11,
79,412 rentable square feet of space are located in Building 10, and 65,862 rentable square feet of space are located in Building
8), plus the Expansion Premises set forth in this Amendment; and

 

WHEREAS, Landlord and Tenant
desire to enter into this Amendment to expand the Total Premises and provide for certain other matters as more fully set forth
herein;

 

NOW, THEREFORE, in consideration
of the foregoing and the mutual covenants contained herein, the parties agree that the Lease shall be amended in accordance with
the terms and conditions set forth below.

 

1.           Definitions.
The capitalized terms used herein shall have the same definitions as set forth in

 

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the Lease, unless otherwise defined herein.

 

2.           Expansion.

 

(a)          Expansion
Premises. The term “Expansion Premises” is hereby defined to be and to mean the majority of the first (1st)
Floor, in Building 8, consisting of approximately 28,396 total rentable square feet of space (which is the final agreement of the
parties and not subject to adjustment), as outlined on Exhibit A, attached hereto and incorporated herein by
this reference. The Expansion Premises shall be delivered in the following manner:

 

	Space	 	RSF	 	Estimated Delivery Date	 	Commencement Date
	Suites 102 & 112	 	19,287	 	The earlier to occur of (i) July 1, 2015, or (ii) the mutual execution of this Amendment.	 	Four (4) months after the Delivery Date.
	 	 	 	 	 	 	 
	Suite 100	 	4,509	 	Tenant shall submit to Landlord a preliminary construction schedule with a projected commencement date.*	 	Four (4) months after the Delivery Date.
	 	 	 	 	 	 	 
	Suite 111	 	4,600	 	July 1, 2015	 	November 1, 2015 (i.e., four (4) months after the Delivery Date.

 

* Subject to Tenant providing Landlord with
a preliminary construction schedule including a projected commencement date for construction of Suite 100, Landlord shall relocate
its existing management offices in order to accommodate said schedule.

 

Promptly following delivery of any portion
of the Expansion Premises, the parties shall execute and deliver to one another a Confirmation of Lease Terms and Dates confirming
such dates, substantially in the form attached hereto as Exhibit C, each being an “Actual Delivery Date”.

 

(b)          Expansion
Commencement Date. The term “Expansion Commencement Date” with respect to each portion of the Expansion Premises
shall mean the date which is four (4) months after Landlord delivers possession of each portion of the Expansion Premises to Tenant.
Effective as of each applicable Expansion Commencement Date, the defined term “Leased Premises” under the Lease shall
include the Total Premises and the applicable portion of the Expansion Premises, except in accordance with the Eighth Amendment,
the expiration date of the Lease Term for the Warehouse Premises shall not be extended by this Amendment and shall remain to expire
on January 31, 2023.

 

(c)          Expansion
Expiration Date. Tenant’s lease of the Expansion Premises shall expire coterminous with the Lease on January 31, 2028
(“Expansion Expiration Date”).

 

(d)          Expansion
Term. The term “Expansion Term” is hereby defined to be and to mean that period of time commencing on the applicable
Expansion Commencement Date and expiring on the Expansion Expiration Date.

 

(e)          Acceptance.
Effective on each applicable Expansion Commencement Date,

 

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Landlord hereby leases to Tenant and Tenant
hereby leases from Landlord, on the terms and conditions set forth in the Lease and herein, that portion of the Expansion Premises.
Tenant shall accept the Expansion Premises in its present “as is” condition as of the Effective Date of this Amendment.
Tenant shall install the work set forth in the Work Letter, attached hereto as Exhibit B and incorporated herein
by this reference.

 

(f)          Notwithstanding
anything herein to the contrary, if, in order for Tenant to receive a building permit for Tenant Improvements (as defined in Exhibit
B) or a certificate of occupancy or completion for the Tenant Improvements, any portion of the existing building systems
located outside of and serving any portion of the Expansion Premises or any portion of the existing common areas located on any
floors containing any portion of the Expansion Premises are required by applicable governmental authority, to be made compliant
with the currently applicable building code or fire code or applicable requirements of the Americans with Disabilities Act (“ADA”),
then Landlord agrees that it is Landlord’s responsibility, at its cost, to perform the necessary work to make said portion
of the existing building systems and/or existing common areas compliant; however, Tenant acknowledges and agrees that Landlord
is only responsible for the building systems up to the point of common connection for the floor on which the applicable portion
of the Expansion Premises are located and under no circumstances shall Landlord be required to upgrade restrooms on the first (1st)
Floor of Building 8 to meet ADA requirements.

 

3.           Base
Rental for the Expansion Premises. During the Expansion Term, Tenant shall pay to Landlord Base Rental (as defined in Section
2.1 of the Original Lease) for the Expansion Premises in full and without offset or demand except as otherwise set forth in the
Lease, provided that such Base Rental shall be payable in monthly installments as follows:

 

	Dates	 	Annual Rate/RSF*	 	 	Monthly Installment	 
	Expansion Commencement Date – 08/31/16*	 	$	[*]	 	 	$	[*]	*
	09/01/16 – 08/31/17	 	$	[*]	 	 	$	[*]	 
	09/01/17 – 08/31/18	 	$	[*]	 	 	$	[*]	 
	09/01/18 – 08/31/19	 	$	[*]	 	 	$	[*]	 
	09/01/19 – 08/31/20	 	$	[*]	 	 	$	[*]	 
	09/01/20 – 08/31/21	 	$	[*]	 	 	$	[*]	 
	09/01/21 – 08/31/22	 	$	[*]	 	 	$	[*]	 
	09/01/22 – 08/31/23	 	$	[*]	 	 	$	[*]	 
	09/01/23 – 08/31/24	 	$	[*]	 	 	$	[*]	 
	09/01/24 – 08/31/25	 	$	[*]	 	 	$	[*]	 
	09/01/25 – 08/31/26	 	$	[*]	 	 	$	[*]	 
	09/01/26 – 08/31/27	 	$	[*]	 	 	$	[*]	 
	09/01/27 – Expansion Expiration Date (01/31/28)	 	$	[*]	 	 	$	[*]	 

 

* The rate per square foot will be applicable
to each portion of the Expansion Premises (Suites 102 and 112, 100 and 111); however, the monthly installment will fluctuate based
on which portion of the Expansion Premises is included at that time. Each portion of the Expansion Premises shall be entitled to
four (4) months of build out time following the applicable Actual Delivery Date, as more fully set forth in Section 2(a) above.
Additionally, Tenant shall receive twelve (12) full calendar months of abated Base Rental for each portion of the Expansion Premises,
commencing on the applicable Expansion Commencement Date of each portion of the Expansion Premises (i.e., four (4) months following
the applicable Actual Delivery Date of each portion of the Expansion Premises). If the applicable Expansion Commencement Date is
other than the first day of a calendar month, then the first and last months of the applicable abatement period shall be prorated.
Such abatement shall apply solely to payment of the

 

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monthly installments of Base Rental and shall
not be applicable to any other charges, expenses or costs payable by Tenant under the Lease or this Amendment, including, without
limitation, Tenant’s obligation to pay Additional Rental and its utilities. In the event that Tenant defaults under the terms
and conditions of the Lease or this Amendment beyond any applicable notice and cure period resulting in the loss of Tenant’s
right to possess the Premises, Landlord shall have a claim for the unamortized portion of all conditionally abated rental (without
limitation and in addition to any and all other rights and remedies available to Landlord provided herein or at law and in equity).

 

Except as otherwise expressly set forth herein,
Base Rental shall be payable pursuant to the terms and conditions of Article 2 of the Original Lease. Tenant shall be solely liable
for any and all tax on rental.

 

4.           Tenant's
Percentage Share and Operating Expenses. Beginning on the Expansion Commencement Date of each applicable portion of the
Expansion Premises, Tenant's Percentage Share, as defined in Section 2.3(c) of the Original Lease, shall be increased based upon
an amount determined by (a) the fraction, the numerator of which is the total number of Rentable Square Feet then leased by
Tenant in Building 8, and the denominator of which is the greater of (i) ninety-five percent (95%) of the total Rentable Square
Feet in Building 8; or (ii) the total Rentable Square feet in Building 8 actually leased or occupied by tenants. Operating Expenses
for calendar year 2015 are presently estimated to be $12.01 per rentable square foot of space in the Expansion Premises.

 

5.           Tenant's
Parking Spaces for Building 8. Tenant shall have the right to use an increased number of parking spaces based on the new
rentable area of the Expansion Premises, pursuant to the same terms and conditions as Section 8 of the Eighth Amendment, except
that upon on the Expansion Commencement Date, Tenant shall also receive an additional fourteen (14) parking permits for the Building 8
parking garage, at no additional cost to Tenant, as shown on Exhibit D, attached hereto and incorporated herein by
this reference.

 

6.           Signs.
Tenant shall have signage rights to the Building 8 Façade Sign and the Building 8 Monument Sign, including the right to
install and maintain signage using any, a combination of any, or all of Tenant’s and its related companies’ brand names
including, but not limited to, Norwegian, Oceania, Regent, and any others pursuant to the same terms and conditions of Section
9 of the Eighth Amendment.

 

7.           Waiver
of Previous Options. Landlord and Tenant hereby acknowledge and agree that Tenant expressly waives the Building 8 right
of offer with respect to the fourth (4th) Floor of the Building, as more particularly set forth in Section 12(a) of
the Eighth Amendment.

 

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8.           Brokers.
Tenant hereby represents and warrants to Landlord that Tenant has not dealt with any real estate brokers or leasing agents, except
Flagler Brokerage and Management Services, LLC, in association with Travers Realty Corporation, d/b/a Travers Cresa, who represent
Tenant, and Landlord hereby represents and warrants to Tenant that CBRE, Inc., is the sole real estate broker or leasing agent
representing Landlord (collectively, the “Brokers”). Landlord and Tenant hereby agree to indemnify and to hold each
other harmless against any loss, expense, or liability with respect to any claims for commissions or brokerage fees arising from
or out of any breach of the foregoing representation and warranty. Landlord shall pay all brokerage commissions due to the Brokers
pursuant to a separate agreement. Landlord, Tenant and Broker acknowledge and agree that from the sale of the Office Park in October
2014, Landlord has held in escrow [*]. Landlord shall release said funds held in escrow to Flagler Brokerage and Management Services,
LLC and Travers Realty Corporation, d/b/a Travers Cresa within thirty (30) days of the mutual execution of this Amendment.

 

9.           Miscellaneous.
With the exception of those matters set forth in this Amendment, Tenant's leasing of the Leased Premises (including the Expansion
Premises set forth herein) shall be subject to all terms, covenants and conditions of the Lease. In the event of any express conflict
or inconsistency between the terms of this Amendment and the terms of the Lease, the terms of this Amendment shall control and
govern. Except as expressly modified by this Amendment, all other terms and conditions of the Lease are hereby ratified and affirmed.
This Amendment may be executed in any number of counterparts, and delivery of any counterpart to the other party may occur by electronic
or facsimile transmission; each such counterpart shall be deemed an original instrument, but all such counterparts together shall
constitute one agreement. An executed Amendment containing the signatures (whether original, faxed or electronic) of all the parties,
in any number of counterparts, is binding on the parties. The “Effective Date” of this Amendment will be the date on
which the last party shall have executed and delivered a fully executed Amendment to the other party. The parties acknowledge that
the Lease is a valid and enforceable agreement and that neither party has any demands, claims (matured or unmatured), losses, rights
of set off or deduction asserted or assertable against the other party in any manner relating to the Lease, or arising in connection
with the Leased Premises or the Project.

 

[Remainder of Page Intentionally Left Blank]

 

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IN WITNESS WHEREOF, this
Amendment is dated effective as of the date and year first written above.

 

	WITNESS:	 	LANDLORD:
	 	 	 	 	 
	 	 	 	SPUS7 MIAMI ACC, LP,
	 	 	 	a Delaware limited partnership
	 	 	 	 	 
	By:	/s/ Diana Parker	 	By:	/s/ Claudia Walraven
	Name:	Diana Parker	 	Name:	Claudia Walraven
	 	 	 	Title:	Asst. V.P.
	By:	/s/ Richard Bamonte	 	Date:	6.30.15
	Name:	Richard Bamonte	 	 	 
	 	 	 	 	 
	By:	/s/ Andy Olvera	 	By:	/s/ Mark Zikakis
	Name:	Andy Olvera	 	Name:	Mark Zikakis
	 	 	 	Title:	Vice President
	By:	/s/ Lindsay Louie	 	Date:	6.30.15
	Name:	Lindsay Louie	 	 	 
	 	 	 	 	 
	WITNESS:	 	TENANT:
	 	 	 	 	 
	 	 	 	NCL (BAHAMAS) LTD.,
	 	 	 	a Bermuda company, d/b/a Norwegian Cruise Line
	 	 	 	 	 
	By:	/s/ Victor M. Gonzalez	 	By:	/s/ Frank Del Rio
	Name:	Victor M. Gonzalez	 	Name:	Frank Del Rio 
	 	 	 	Title:	Chief Executive Officer
	By:	/s/ Lincoln M. Vidal	 	Date:	6/26/15
	Name:	Lincoln M. Vidal	 	 	 

 

CONSENT OF GUARANTOR

 

The undersigned Guarantor under the original
Guaranty of Lease dated November 27, 2006 (the “Guaranty”), does hereby consent to the foregoing Amendment. Guarantor
acknowledges and agrees that the Guaranty is in full force and effect and shall continue to apply to the Lease, as amended by this
Amendment.

 

NCL CORPORATION LTD.,

a Bermuda company

 

	By:	/s/ Frank Del Rio	 
	Name:	Frank Del Rio	 
	Title:  	President & CEO	 

 

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EXHIBIT A

 

EXPANSION PREMISES

 

 

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EXHIBIT B

 

WORK LETTER

 

This is the Work Letter
referred to in and specifically made a part of the Amendment to which this Exhibit B is annexed, covering the
entire Leased Premises, including the Expansion Premises, as more particularly described in the Amendment. Landlord and Tenant
agree as follows:

 

1.           Defined
Terms. The following defined terms shall have the meaning set forth below and, unless provided to the contrary herein, the
remaining defined terms shall have the meaning set forth in the Lease, as amended:

 

		Landlord's Representative:	Suzanne Russo of CBRE, Inc. Landlord has designated Landlord's
Representative as its sole representative with respect to the matters set forth in this Work Letter, who shall have full authority
and responsibility to act on behalf of Landlord as required in this Work Letter. Landlord shall not change Landlord's Representative
except upon prior written notice to Tenant. Tenant acknowledges that neither Tenant's architect nor any contractor engaged by
Tenant is Landlord's agent and neither entity has authority to enter into agreements on Landlord's behalf or otherwise bind Landlord.

 

		Tenant's Representative:	Victor Gonzalez of Norwegian Cruise Line, or such other
person as may be designated in writing by Tenant. Tenant has designated Tenant's Representative as its representative with respect
to the matters set forth in this Work Letter, who shall have full authority and responsibility to act on behalf of Tenant as required
in this Work Letter. Tenant shall not change Tenant's Representative except upon prior written notice to Landlord.

 

		Allowance:	[*] (i.e., [*] per rentable square foot of space in the Expansion Premises (the "Tenant Improvement
Allowance") to be used for, among other things, permitting, design, construction, interior improvements, cabling and relocation
expenses in the Expansion Premises. Up [*] of the Tenant Improvement Allowance may be used towards Tenant’s soft costs (including,
but not limited to, furniture fixtures, equipment and Base Rental).

 

		Additional Allowance:	An additional [*] (the "Additional Allowance")
may be used for the purchase, use, and maintenance of golf carts and/or Tenant may apply the Additional Allowance towards Tenant’s
Base Rental obligations. Tenant shall be solely responsible for the purchase, use and maintenance of any golf carts. Any golf
carts shall be stored in garage associated with Building 11 after-hours.

 

		Construction Management Fee:	None.

 

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		General Contractor:	City Construction Group (which is hereby approved by
Landlord), or such other general contractor approved by Landlord, which approval shall not be unreasonably withheld, conditioned
or delayed.

 

2.           Landlord’s
Work. Subject to Section 2(e) of the Amendment, Tenant accepts the Expansion Premises in its current “AS IS” condition
and acknowledges that Landlord shall have no obligation to do any work in or on the Expansion Premises to render it ready for Tenant's
use or occupancy. Landlord will be constructing a lunchroom in Suite 101 of Building 8 (which is not part of the Leased Premises)
which shall be accessible to Tenant and shared by other tenants and employees in Building 8. Landlord and Tenant hereby acknowledge
and agree that with respect to the west half of the floor, the existing hallway providing access to the Lunchroom and adjacent
bathrooms shall remain a common area hallway with full access by all tenants and visitors to the Building. Landlord shall cause
to be prepared detailed architectural, mechanical and engineering plans, including all dimensions and specifications for all work
to be performed by Landlord in Suite 101. Tenant shall cooperate as necessary regarding Tenant’s use of adjoining common
areas so as to allow access by Landlord through the common areas to perform Landlord’s Work in Suite 101.

 

3.           Tenant
Improvements. The “Tenant Improvements” shall mean the interior walls, partitions, doors, door hardware, wall coverings,
wall base, counters, lighting fixtures, electrical and telephone wiring, cabling for computers, electrical outlets, ceilings, floor
and window coverings, that portion of the HVAC system located within any portion of the Expansion Premises, that portion of the
fire sprinklers system located within any portion of the Leased Premises (including the Expansion Premises), and other items of
general applicability that Tenant desires to be installed in the interior of the Expansion Premises. Tenant Improvements shall
also include the construction of a café on the first (1st) Floor of the Expansion Premises. Landlord acknowledges
Tenant’s intent to design and operate the café solely for use by Tenant’s employees and invited guests. Tenant
hereby acknowledges and agrees the café will not receive exposure in Building 8’s main lobby and the entrance
to the café shall be located as shown on attached Exhibit E. With respect to the existing main lobby glass doors
and side panels, Tenant hereby acknowledges and agrees that said doors and side panels shall be frosted and shall not be a means
of ingress and egress to the café. Tenant shall promptly commence and diligently prosecute to full completion Tenant Improvements
in accordance with the Drawings (defined below). Tenant shall have four (4) months from each applicable Delivery Date for construction
of the Expansion Premises. The parties agree that no demolition work or other Tenant Improvements shall be commenced within the
Expansion Premises until such time as Tenant has provided to Landlord copies of the building permits required to be obtained from
all applicable governmental authorities. All materials, work, installations, equipment and decorations of any nature whatsoever
brought on or installed in the Expansion Premises before the applicable Expansion Commencement Date or during the Expansion Term
shall be at Tenant's risk, and neither Landlord nor any party acting on Landlord's behalf shall be responsible for any damage thereto
or loss or destruction thereof due to any reason or cause whatsoever, excluding by reason of Landlord's negligence or willful or
criminal misconduct. Notwithstanding anything set forth in this Amendment to the contrary, Tenant shall have the right, in its
sole discretion, to apply all or any portion of the Tenant Improvement Allowance to performing Alterations (as defined in and pursuant
to Section 5(e) of the Original Lease) to the Expansion Premises.

 

4.           Drawings.
Tenant shall engage and pay for the services of a licensed architect to prepare a space layout, drawings and specifications for
all Tenant Improvements (the “Drawings”), which architect shall be subject to Landlord's approval, not to be unreasonably
withheld, conditioned or delayed (the

 

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“Architect”). Tenant shall devote
such time in consultation with the Architect as shall be necessary to enable the Architect to develop complete and detailed architectural,
mechanical and engineering drawings and specifications, as necessary, for the construction of Tenant Improvements, showing thereon
all Tenant Improvements. Tenant hereby acknowledges and agrees that it is Tenant's sole and exclusive responsibility to
cause the Premises and the Drawings to comply with all applicable laws, including the Americans with Disabilities Act and other
ordinances, orders, rules, regulations and requirements of all governmental authorities having jurisdiction thereof.

 

5.           Landlord's
Approval.  On or before the applicable Time Limit set forth below, Tenant shall submit to Landlord an electronic
PDF copy, electronic CAD copy and hard copy of the complete and final Drawings for Tenant Improvements. The Drawings shall be subject
to the approval of Landlord, which approval shall not be unreasonably withheld, conditioned or delayed. If Landlord should disapprove
such Drawings, Landlord shall specify to Tenant, in writing, the reasons for its disapproval and Tenant shall cause the same to
be revised to meet the Landlord and Tenant's mutual reasonable satisfaction and shall resubmit the same to Landlord, as so revised,
on or before the applicable Time Limit set forth below.

 

6.           Changes.
Tenant may request reasonable changes in the Drawings; provided, however, that (a) no change shall be made to the Drawings
without Landlord's Representative's prior written approval, which approval shall not be unreasonably withheld, conditioned or delayed;
(b) no such request shall effect any structural change in Building 8 or otherwise render any portion of the Expansion Premises
or the building within which such portion is situated in violation of applicable laws; (c) Tenant shall pay any additional
costs required to implement such change, including, without limitation, architecture and other consultant fees, and increases in
construction costs; and (d) such requests shall constitute an agreement by Tenant to any delay in completion caused by Landlord's
reviewing, and processing such change. If Tenant requests or causes any change, addition or deletion to the Premises to be necessary
after approval of the Drawings, a request for the change shall be submitted to Landlord's Representative, accompanied by revised
plans prepared by the Architect, all at Tenant's sole expense.

 

7.           Tenant's
Contractors.  It is understood and agreed by the parties that, as hereinafter set forth, Tenant has elected to retain
a general contractor and arrange for the construction and installation of Tenant Improvements itself in a good and workmanlike
manner by contractors and subcontractors.” On or before the applicable Time Limit set forth below, Tenant shall submit to
Landlord the names of the general contractor, electrical, ventilation, plumbing and heating subcontractors (hereinafter “Major
Subcontractors”), as applicable, for Landlord's approval, which approval shall not be unreasonably withheld, conditioned
or delayed. If Landlord shall reject any Major Subcontractor, Landlord shall advise Tenant, in writing, of the reason(s) and Tenant
shall choose another Major Subcontractor. Along with Tenant's notice of its Major Subcontractors, Tenant shall notify Landlord
of its estimate of the total costs for Tenant Improvements.

 

8.           Tenant's
Construction of Tenant Improvements.

 

(a)          Payment;
Liens. Tenant shall promptly pay any and all costs and expenses in connection with or arising out of the performance of Tenant
Improvements and shall furnish to Landlord evidence of such payment upon request. In the event any lien is filed against the building
within which any Tenant Improvements are performed by Tenant as set forth herein, or against Tenant's leasehold interest therein,
the provisions of Article 5(g) of the Original Lease shall apply.

 

(b)          Indemnity.
Tenant shall indemnify, defend (with counsel reasonably satisfactory to

 

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Landlord and Tenant) and hold Landlord harmless
from and against any and all suits, claims, actions, loss, cost or expense (including claims for workers' compensation, attorneys'
fees and costs) based on personal injury, property damage or contract claims (including, but not limited to claims for breach of
warranty) arising from Tenant Improvements. Tenant shall repair or replace (or, at Landlord's election, reimburse Landlord for
the commercially reasonable cost of repairing or replacing) any portion of the building within which any Tenant Improvements are
performed by Tenant as set forth herein, or item of Landlord's equipment or any of Landlord's real or personal property damaged,
lost or destroyed by Tenant's contractors during construction of Tenant Improvements.

 

(c)          Contractors.
The Major Subcontractors employed by Tenant and any subcontractors thereof shall be (i) duly licensed in the state in which
the Premises are located, and (ii) except as otherwise approved herein, subject to Landlord's prior written approval, which
approval shall not be unreasonably withheld, conditioned or delayed. On or before ten (10) business days prior to the commencement
of any construction activity in the applicable portion of the Expansion Premises, Tenant and Tenant's contractors shall obtain
and provide Landlord with certificates evidencing Workers' Compensation, public liability and property damage insurance in amounts
and forms and with companies reasonably satisfactory to Landlord. If Landlord should disapprove such insurance, Landlord shall
specify to Tenant the reasons for its disapproval within five (5) business days after delivery of such certificates. Tenant's agreement
with its contractors shall require such contractors to provide daily clean up of the construction area to the extent such clean
up is necessitated by the construction of Tenant Improvements, and to take reasonable steps to minimize interference with other
tenants' use and occupancy of the Building. Nothing contained herein shall make or constitute Tenant as the agent of Landlord.
Tenant and Tenant's contractors shall comply with any other reasonable rules, regulations or requirements that Landlord may impose.
Notwithstanding anything to the contrary, Tenant’s contractors shall not be charged for the use of parking, utilities, elevators
use or security costs. To the extent reasonably required by Tenant during construction of Tenant Improvements, Landlord shall use
commercially reasonable efforts to provide Tenant with space for a storage container, the exact location and size of which shall
be subject to Landlord’s reasonable approval and discretion. Tenant shall be responsible to ensure that the storage container
satisfies all applicable laws. The storage container may only be used for temporarily storing building materials or equipment which
will be incorporated into the Expansion Premises. All of the foregoing shall be maintained by Tenant in a neat and orderly manner
and shall not affect other tenants in the Project. Tenant shall be solely responsible for all costs in connection with the foregoing
and the same shall only be in place for a reasonable period of time as necessary to facilitate the Tenant Improvements.

 

(d)          Use
of Common Areas. During the construction period and installation of fixtures period, Tenant shall be allowed to use, at no
cost to Tenant, a freight elevator for the purpose of hoisting materials, equipment and personnel to the Premises. Also during
the construction period, Tenant shall ensure that the Building and all common areas and the Expansion Premises are kept in a clean
and safe condition at all times. Further, all construction activities shall be conducted so as to use reasonable efforts to minimize
interference with the use and occupancy of the Building by the tenants thereof. Such entry shall be deemed to be under all the
terms, covenants, provisions and conditions of the Lease, as amended.

 

(e)          Coordination.
All work performed by Tenant shall be coordinated with Landlord’s Representative. Tenant shall use commercially reasonable
efforts to timely notify and invite Landlord’s Representative to construction meetings (with contractors, engineers, architects
and others), and supply all documentation reasonably requested by Landlord’s Representative.

 

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(f)          Assumption
of Risk. All materials, work, installations, equipment and decorations of any nature whatsoever brought on or installed in
the Premises pursuant to the provisions of this Work Letter before the commencement of the Term or throughout the Term shall be
at Tenant's risk, and neither Landlord nor any party acting on Landlord's behalf shall be responsible for any damage thereto or
loss or destruction thereof due to any reason or cause whatsoever, excluding by reason of Landlord or such other party's gross
negligence or willful or criminal misconduct.

 

9.           Time
Limits. The following maximum time limits and periods shall be allowed for the indicated matters:

 

	Action	 	Time Limit
	 	 	 
	Tenant submits Drawings to Landlord for review and approval.	 	On or before 60 days after the date of mutual execution of this Amendment.
	 	 	 
	Landlord notifies Tenant and the Architect of its approval of the Drawings with any required changes in detail.	 	On or before 10 business days after the date of Landlord's receipt of the Drawings.
	 	 	 
	Tenant notifies Landlord of its selection of major subcontractors.	 	On or before 60 days after the date of mutual execution of this Amendment.
	 	 	 
	Landlord approves/disapproves Tenant's major subcontractors.	 	On or before 7 business days after the date of Landlord's receipt of the list of major subcontractors.
	 	 	 
	If applicable, Landlord and Tenant mutually approve the final revised list of major subcontractors.	 	On or before 3 business days after the date of Landlord's receipt of a revised list of major subcontractors.
	 	 	 
	If applicable, Landlord and Tenant mutually approve the final revised Drawings.	 	On or before 5 business days after the date of Landlord's receipt of revised Drawings.
	 	 	 
	Tenant submits Drawings for building permit, if applicable.	 	On or after the date Tenant and Landlord mutually approve the final, revised Drawings.
	 	 	 
	Tenant allowed access to the applicable portion of the Expansion Premises to commence Construction of Tenant Improvements	 	After providing copies of the building permit(s) and the contractors meeting all of Landlord’s insurance requirements.

 

Except as may be otherwise specifically provided
for herein, in all instances where either Tenant's or Landlord's approval is required, if no written notice of disapproval is given
within the applicable Time Limit, at the end of such period the applicable party shall be deemed to have given its approval and
the next succeeding time period shall commence. Any delay in any of the foregoing dates (including any

 

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“re-do”, continuation or abatement
of any item due to Tenant's or Landlord's disapproval thereof) shall automatically delay all subsequent deadlines by a like amount
of time.

 

10.          Tenant
Improvement Allowance.  Landlord shall contribute to the costs and expenses of all costs for the planning and design
of Tenant Improvements, including all permits, licenses and construction fees and constructing Tenant Work in an amount not to
exceed the Tenant Improvement Allowance. If the final costs for Tenant Improvements exceed Tenant Improvement Allowance, Tenant
shall be responsible for such excess costs. If the total cost of performing Tenant Improvements is less than the Tenant Improvement
Allowance, portions of the Tenant Improvement Allowance may be used towards Tenant's soft costs and existing Lease obligations
in accordance with Section 1 of this Work Letter. Landlord shall pay the Tenant Improvement Allowance to Tenant consistent with
the terms and conditions of this Section. After Tenant Improvements are complete (as provided under Section 11 hereof), Tenant
may submit to Landlord a request in writing (the “Final Draw Request”) for the Tenant Improvement Allowance which request
shall include: (a) “as-built“ drawings showing all of Tenant Improvements, (b) a detailed breakdown of Tenant's
final and total construction costs, together with receipted invoices showing payment thereof, (c) a certified, written statement
from the Architect that all of Tenant Improvements has been completed in accordance with the Drawings, (d) all required AIA forms,
supporting final lien waivers, and releases executed by the Architect, General Contractor, the Major Subcontractors and all subcontractors
and suppliers in connection with Tenant Improvements, (e) a copy of a certificate of occupancy or amended certificate of occupancy
required with respect to the Expansion Premises, if applicable, together with all licenses, certificates, permits and other government
authorizations necessary in connection with Tenant Improvements and the operation of Tenant's business from the Expansion Premises,
and (f) proof reasonably satisfactory to Landlord that Tenant has complied with all of the conditions set forth in this Work Letter
and has satisfactorily completed Tenant Improvements.” Upon Landlord's receipt and approval of the Final Draw Request, Landlord
shall pay the balance of the Tenant Improvement Allowance. Payment by Landlord shall be made within thirty (30) days, unless
Landlord notifies Tenant, in writing, of its rejection (and the reasons therefor) of any or all of the Final Draw Request. To the
extent Landlord does not so reject any portion of said Final Draw Request, Landlord shall timely pay the Final Draw Request. Notwithstanding
the foregoing to the contrary, but subject to Section 1 of this Work Letter, Landlord will pay the amount of the Tenant Improvement
Allowance to Tenant in progress payments (not more often than monthly) after the applicable Actual Delivery Dates. Such progress
payments will be made not later than thirty (30) days after receipt by Landlord from Tenant of copies of Tenant’s invoices
from its Architect or General Contractor together with a certificate from Tenant indicating that the work to which such invoices
relate has been substantially completed and/or the materials to which such invoices relate have been installed in, or delivered
to, the applicable portion of the Expansion Premises. Such progress payments will be made payable to Tenant and will be for the
undisputed amount of the submitted invoices, less a ten percent (10%) retainage (which shall not be released until such time as
Landlord has received the Final Draw Request). As a condition precedent to Landlord’s issuing any such progress payment subsequent
to the first such progress payment, Tenant will deliver to Landlord an original lien waiver from its general contractor waiving
any claim for a mechanic’s or materialman’s lien with respect to the labor and materials reflected in the invoices
submitted for the immediately preceding progress payment.

 

11.          Substantial
Completion. Tenant Improvements shall be deemed substantially complete when all work called for by the Drawings has been finished
and the applicable portion of the Expansion Premises is ready to be used and occupied by Tenant, even though minor items may remain
to be installed, finished or corrected (“Substantial Completion Date” or the “Date of Substantial Completion”).
Tenant shall cause the contractors to diligently complete any items of work not completed when the applicable portion

 

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of the Expansion Premises are substantially
complete. Substantial completion shall have occurred notwithstanding punch list items. Promptly after the Substantial Completion
Date for any portion of the Expansion Premises, the parties will execute an instrument in the form attached hereto as Exhibit
C, setting forth the applicable Expansion Commencement Date, so that said date is certain and such instrument, when executed,
is hereby made a part of this Amendment and incorporated herein by reference.

 

12.         No
Representations or Warranties. Notwithstanding anything to the contrary contained in the Lease, as amended, or herein, Landlord's
participation in the preparation of the Drawings, the cost estimates for Tenant and the construction of Tenant Improvements shall
not constitute any representation or warranty, express or implied, that (i) the Drawings are in conformity with applicable
governmental codes, regulations or rules or (ii) Tenant Improvements, if built in accordance with the Drawings, will be suitable
for Tenant's intended purpose. Landlord's obligations shall be to review the Drawings; and any additional cost or expense required
for the modification thereof to more adequately meet Tenant's use, whether during or after construction thereof, shall be borne
entirely by Tenant.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

 

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EXHIBIT C

 

CONFIRMATION
OF LEASE TERMS AND DATES

 

		Re:	Ninth Amendment to Lease (the “Amendment”) dated June 30, 2015, between SPUS7 MIAMI
ACC, LP, a Delaware limited partnership (“Landlord”), and NCL (BAHAMAS) LTD., a Bermuda company, d/b/a Norwegian Cruise
Line (“Tenant”) for the premises located at Building 8, 7300 Corporate Center Drive, Miami, Florida (“Expansion
Premises”).

 

The undersigned, as Tenant,
hereby confirms as of this _____ day of _________, 2015, the following:

 

1.           The
Actual Delivery Date of each of the following portions of the Expansion Premises is as follows:

 

	Space	 	RSF	 	Actual Delivery
    Date
	Suites 102 and 112	 	19,287	 	______________, 2015
	Suite 100	 	4,509	 	______________, 2015
	Suite 111	 	4,600	 	______________, 2015

 

2.           The
Expiration Date is January 31, 2028.

 

3.           The
schedule of Base Rental is:

 

	Dates	 	Annual Rate/RSF	 	Monthly Installment
    
	 	 	 	 	 
	__/__/__ - __/__/__	 	$____________	 	$________________*
	__/__/__ - __/__/__	 	$____________	 	$________________
	__/__/__ - __/__/__	 	$____________	 	$________________
	__/__/__ - __/__/__	 	$____________	 	$________________
	__/__/__ - __/__/__	 	$____________	 	$________________
	__/__/__ - __/__/__	 	$____________	 	$________________
	__/__/__ - __/__/__	 	$____________	 	$________________
	__/__/__ - __/__/__	 	$____________	 	$________________
	__/__/__ - __/__/__	 	$____________	 	$________________
	__/__/__ - __/__/__	 	$____________	 	$________________
	__/__/__ - __/__/__	 	$____________	 	$________________
	__/__/__ - __/__/__	 	$____________	 	$________________
	__/__/__ - __/__/__	 	$____________	 	$________________
	__/__/__ - __/__/__	 	$____________	 	$________________
	__/__/__ - __/__/__	 	$____________	 	$________________
	__/__/__ - __/__/__	 	$____________	 	$________________
	__/__/__ - __/__/__	 	$____________	 	$________________
	__/__/__ - __/__/__	 	$____________	 	$________________
	__/__/__ - __/__/__	 	$____________	 	$________________
	__/__/__ - __/__/__	 	$____________	 	$________________
	__/__/__ - 01/31/28	 	$____________	 	$________________

 

    	15

    	 

    

 

*Subject to the 12-full calendar month base
rental abatement set forth in the Amendment.

 

4.           Tenant
has the right to use ____ parking spaces associated with the Expansion Premises. Of which, _____ are located in the covered portion
of the parking garage adjacent to Building 8, _____ are uncovered parking spaces in the parking lot associated with Building 8
and ____ are located at ____________________________________.

 

5.           All
alterations and improvements required to be performed by Landlord pursuant to the terms of the Amendment to prepare the Expansion
Premises for Tenant's initial occupancy have been satisfactorily completed. There are no offsets or credits against Rent or other
amounts owed by Tenant to Landlord, except: ____________________________________________________. As of the Effective Date, Landlord
has fulfilled all of its obligations under the Lease, as amended. The Lease, as amended, is in full force and effect and has not
been modified, altered, or amended. There are no defaults by Landlord.

 

	 	TENANT:
	 	NCL (BAHAMAS) LTD.,
	 	a Bermuda company, d/b/a Norwegian Cruise Line
	 	 
	 	By: 	 
	 	Name: 	 
	 	Title: 	 

 

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EXHIBIT D

PARKING

 

 

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EXHIBIT E

LOCATION OF ENTRANCE TO café

 

 

 

    	18sgby_ex101.htm

EXHIBIT 10.1

 

EQUITY PURCHASE AGREEMENT 

 

THIS EQUITY PURCHASE AGREEMENT entered into as of the 31st day of July, 2015(this "AGREEMENT"), by and between KODIAK CAPITAL GROUP, LLC, a Delaware limited liability company ("INVESTOR"), and SIGNAL BAY, INC., a Colorado Corporation (the "COMPANY"). 

 

WHEREAS, the parties desire that, upon the terms and subject to the conditions contained herein, the Company shall issue and sell to Investor, from time to time as provided herein, and Investor shall purchase up to One Million Dollars ($1,000,000) of the Company's Common Stock (as defined below); and 

 

NOW, THEREFORE, the parties hereto agree as follows: 

 

ARTICLE I 

CERTAIN DEFINITIONS 

 

Section 1.1 DEFINED TERMS as used in this Agreement, the following terms shall have the following meanings specified or indicated (such meanings to be equally applicable to both the singular and plural forms of the terms defined) 

 

"AGREEMENT" shall have the meaning specified in the preamble hereof. 

 

"BY-LAWS" shall have the meaning specified in Section 4.7. 

 

"CLAIM NOTICE" shall have the meaning specified in Section 9.3(a). 

 

"CLEARING DATE" shall be the date in which the Put Shares have been deposited into the Investor's brokerage account. 

 

"CLOSING" shall mean one of the closings of a purchase and sale of shares of Common Stock pursuant to Section 2.3. 

 

"CLOSING CERTIFICATE" shall mean the closing certificate of the Company in the form of Exhibit B hereto. 

 

"CLOSING PRICE" shall mean the closing bid price for the Company's common stock on the Principal Market on a Trading Day as reported by Bloomberg Finance L.P. 

 

"COMMITMENT PERIOD" shall mean the period commencing on the Execution Date, and ending on the date on which Investor shall have purchased Put Shares pursuant to this Agreement for an aggregate Purchase Price of the Maximum Commitment Amount or December 31, 2016. 

 

"COMMITMENT SHARES" shall have the meaning specified in Section 2.1(c). 

 

"COMMON STOCK" shall mean the Company's common stock, $0.0001 par value per share, and any shares of any other class of common stock whether now or hereafter authorized, having the right to participate in the distribution of dividends (as and when declared) and assets (upon liquidation of the Company). 

 

"COMPANY" shall have the meaning specified in the preamble to this Agreement. 

 

"DAMAGES" shall mean any loss, claim, damage, liability, cost and expense (including, without limitation, reasonable attorneys' fees and disbursements and costs and expenses of expert witnesses and investigation). 

 

"DISPUTE PERIOD" shall have the meaning specified in Section 9.3(a). 

 

"DOCUMENT PREPARATION FEE" shall have the meaning specified in Section 2.1(b).

 

	 
	1

	

	 

 

"DTC" shall have the meaning specified in Section 2.3. 

 

"DWAC" shall have the meaning specified in Section 2.3. 

 

"EXCHANGE ACT" shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. 

 

"EXCHANGE CAP" shall have the meaning set forth in Section 7.1(c). 

 

"EXECUTION DATE" shall mean the date that of the Agreement. 

 

"FAST" shall have the meaning specified in Section 2.3. 

 

"FINRA" shall mean the Financial Industry Regulatory Authority, Inc. 

 

"INVESTMENT AMOUNT" shall mean the Put Shares referenced in the Put Notice multiplied by the Purchase Price. 

 

"INDEMNIFIED PARTY" shall have the meaning specified in Section 9.3(a). 

 

"INDEMNIFYING PARTY" shall have the meaning specified in Section 9.3(a). 

 

"INDEMNITY NOTICE" shall have the meaning specified in Section 9.3(b). 

 

"INVESTOR" shall have the meaning specified in the preamble to this Agreement. 

 

"LEGEND" shall have the meaning specified in Section 8.1. 

 

"MARKET PRICE" shall mean the lowest daily volume weighted average price on the Principal Market for any Trading Day during the Valuation Period, as reported by Bloomberg Finance L.P. 

 

"MATERIAL ADVERSE EFFECT" shall mean any effect on the business, operations, properties, or financial condition of the Company that is material and adverse to the Company and/or any condition, circumstance, or situation that would prohibit or otherwise materially interfere with the ability of the Company to enter into and perform its obligations under any of this Agreement. 

 

"MAXIMUM COMMITMENT AMOUNT" shall mean One Million Dollars ($1,000,000).  

 

"PERSON" shall mean an individual, a corporation, a partnership, an association, a trust or other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 

 

"PRINCIPAL MARKET" shall mean any of the national exchanges (i.e. NYSE, NYSE AMEX, Nasdaq), or principal quotation systems (i.e. OTCQX, OTCQB, the OTC Bulletin Board), or other principal exchange or recognized quotation system which is at the time the principal trading platform or market for the Common Stock. 

 

"PURCHASE PRICE" shall mean 75% of the Market Price on such date on which the Purchase Price is calculated in accordance with the terms and conditions of this Agreement. 

 

"PUT" shall mean the right of the Company to require the Investor to purchase shares of Common Stock, subject to the terms and conditions of this Agreement. 

 

"PUT DATE" shall mean any Trading Day during the Commitment Period that a Put Notice is deemed delivered pursuant to Section 2.2(b). 

 

	 
	2

	

	 

 

"PUT NOTICE" shall mean a written notice, substantially in the form of Exhibit A hereto, to Investor setting forth the Put Shares with respect to which the Company intends to require Investor to purchase pursuant to the terms of this Agreement. 

 

"PUT SHARES" shall mean all shares of Common Stock issued, or that the Company shall be entitled to issue, per any applicable Put Notice in accordance with the terms and conditions of this Agreement. 

 

"REGISTERED SECURITIES" shall mean the (a) Put Shares, (b) Commitment Shares, and (c) any securities issued or issuable with respect to any of the foregoing by way of exchange, stock dividend or stock split or in connection with a combination of shares, recapitalization, merger, consolidation or other reorganization or otherwise. As to any particular Registered Securities, once issued such securities shall cease to be Registrable Securities when (i) a Registration Statement has been declared effective by the SEC and such Registrable Securities have been disposed of pursuant to a Registration Statement, (ii) such Registrable Securities have been sold under circumstances under which all of the applicable conditions of Rule 144 are met, (iii) such time as such Registrable Securities have been otherwise transferred to holders who may trade such shares without restriction under the Securities Act or (iv) in the opinion of counsel to the Company, which counsel shall be reasonably acceptable to Investor, such Registrable Securities may be sold without registration under the Securities Act or the need for an exemption from any such registration requirements and without any time, volume or manner limitations pursuant to Rule 144(b)(i) (or any similar provision then in effect) under the Securities Act. 

 

"REGISTRATION STATEMENT" shall mean the Company's effective registration statement on file with the SEC, and any follow up registration statement or amendment thereto.  

 

"REGULATION D" shall mean Regulation D promulgated under the Securities Act. 

 

"RULE 144" shall mean Rule 144 under the Securities Act or any similar provision then in force under the Securities Act. 

 

"SEC" shall mean the United States Securities and Exchange Commission. 

 

"SECURITIES ACT" shall have the meaning specified in the recitals of this Agreement. 

 

"SEC DOCUMENTS" shall mean, as of a particular date, all reports and other documents filed by the Company pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the Company's then most recently completed and reported fiscal year as of the time in question (provided that if the date in question is within ninety days of the beginning of the Company's fiscal year, the term shall include all documents filed since the beginning of the preceding fiscal year). 

 

"SHORT SALES" shall mean all "short sales" as defined in Rule 200 of Regulation SHO under the Exchange Act. 

 

"SUBSCRIPTION DATE" shall mean the date on which this Agreement is executed and delivered by the Company and Investor. 

 

"THIRD PARTY CLAIM" shall have the meaning specified in Section 9.3(a). 

 

"TRADING DAY" shall mean a day on which the Principal Market shall be open for business. 

 

"TRANSACTION DOCUMENTS" shall mean this Agreement and the Registration Rights Agreement. 

 

"TRANSFER AGENT" shall mean the transfer agent for the Common Stock (and to any substitute or replacement transfer agent for the Common Stock upon the Company's appointment of any such substitute or replacement transfer agent). 

 

	 
	3

	

	 

 

"UNDERWRITER" shall mean any underwriter participating in any disposition of the Registered Securities on behalf of Investor pursuant to the Registration Statement. 

 

"VALUATION PERIOD" shall mean the period of five (5) Trading Days immediately following the Clearing Date associated with the applicable Put Notice during which the Purchase Price of the Common Stock is valued. Investor shall notify the Company in writing of the occurrence of the Clearing Date associated with a Put Notice. The Valuation Period shall begin the first Trading Day following such written notice from Investor. 

 

ARTICLE II 

PURCHASE AND SALE OF COMMON STOCK 

 

 

Section 2.1 INVESTMENTS. 

 

		(a) 	PUTS. Upon the terms and conditions set forth herein (including, without limitation, the provisions of Article VII), on any Put Date the Company may exercise a Put by the delivery of a Put Notice.

 

		(b) 	DOCUMENT PREPARATION FEE. The Company agrees to pay the Investor a cash fee of $10,000 for the preparation of the Equity Purchase Agreement and the Registration Rights Agreement upon the execution of the Transaction Documents.

 

		(c) 	COMMITMENT SHARES. The Company agrees to issue the Investor 3,500,000 shares of Common Stock upon the execution of the Transaction Documents

 

Section 2.2 MECHANICS. 

 

		(a) 	PUT NOTICE. At any time and from time to time during the Commitment Period, the Company may deliver a Put Notice to Investor, subject to the conditions set forth in Section 7.2. On the Put Date the Company shall deliver to Investor's brokerage account the Put Shares referenced in the Put Notice.

 

		(b) 	DATE OF DELIVERY OF PUT NOTICE. A Put Notice shall be deemed delivered on (i) the Trading Day it is received by email by Investor if such notice is received on or prior to 9:00 AM New York time, or (ii) the immediately succeeding Trading Day if it is received by email after 9:00 AM New York time on a Trading Day or at any time on a day which is not a Trading Day.

 

Section 2.3 CLOSINGS. At the end of the Valuation Period the Purchase Price shall be established; if the value of the Put Shares initially delivered to Investor is greater than the Maximum Commitment Amount then immediately after the Valuation Period the Investor shall deliver to Company the Put Shares surplus associated with such Put. The Closing of a Put shall occur upon the first Trading Day following the completion of the Valuation Period, whereby Investor shall deliver the Investment Amount, by wire transfer of immediately available funds to an account designated by the Company. In addition, on or prior to such Closing Date, each of the Company and Investor shall deliver to each other all documents, instruments and writings required to be delivered or reasonably requested by either of them pursuant to this Agreement in order to implement and effect the transactions contemplated herein. 

 

ARTICLE III 

REPRESENTATIONS AND WARRANTIES OF INVESTOR 

 

Investor represents and warrants to the Company that: 

 

Section 3.1 INTENT. Investor is entering into this Agreement for its own account and Investor has no present arrangement (whether or not legally binding) at any time to sell the Registered Securities to or through any person or entity; provided, however, that Investor reserves the right to dispose of the Registered Securities at any time in accordance with federal and state securities laws applicable to such disposition. 

 

	 
	4

	

	 

 

Section 3.2 NO LEGAL ADVICE FROM THE COMPANY. The Investor acknowledges that it has had the opportunity to review this Agreement and the transactions contemplated by this Agreement with its own legal counsel and investment and tax advisors. The Investor is relying solely on such counsel and advisors and not on any statements or representations of the Company or any of its representatives or agents for legal, tax or investment advice with respect to this investment, the transactions contemplated by this Agreement or the securities laws of any jurisdiction. 

 

Section 3.3 SOPHISTICATED INVESTOR. Investor is a sophisticated investor (as described in Rule 506(b)(2)(ii) of Regulation D) and an accredited investor (as defined in Rule 501 of Regulation D), and Investor has such experience in business and financial matters that it is capable of evaluating the merits and risks of an investment in the Registered Securities. Investor acknowledges that an investment in the Registered Securities is speculative and involves a high degree of risk. 

 

Section 3.4 AUTHORITY. (a) Investor has the requisite power and authority to enter into and perform its obligations under this Agreement and the transactions contemplated hereby in accordance with its terms; (b) the execution and delivery of this Agreement and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action and no further consent or authorization of Investor or its partners is required; and (c) this Agreement has been duly authorized and validly executed and delivered by Investor and constitutes a valid and binding obligation of Investor enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, or similar laws relating to, or affecting generally the enforcement of, creditors' rights and remedies or by other equitable principles of general application. 

 

Section 3.5 NOT AN AFFILIATE. Investor is not an officer, director or "affiliate" (as that term is defined in Rule 405 of the Securities Act) of the Company. 

 

Section 3.6 ORGANIZATION AND STANDING. Investor is a limited liability company duly organized, validly existing and in good standing under the laws of the State of Delaware and has all requisite power and authority to own, lease and operate its properties and to carry on its business as now being conducted. Investor is duly qualified and in good standing in every jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, other than those in which the failure so to qualify would not have a material adverse effect on Investor. 

 

Section 3.7 ABSENCE OF CONFLICTS. The execution and delivery of this Agreement and any other document or instrument contemplated hereby, and the consummation of the transactions contemplated hereby and thereby, and compliance with the requirements hereof and thereof, will not (a) violate any law, rule, regulation, order, writ, judgment, injunction, decree or award binding on Investor, (b) violate any provision of any indenture, instrument or agreement to which Investor is a party or is subject, or by which Investor or any of its assets is bound, or conflict with or constitute a material default thereunder, (c) result in the creation or imposition of any lien pursuant to the terms of any such indenture, instrument or agreement, or constitute a breach of any fiduciary duty owed by Investor to any third party, or (d) require the approval of any third-party (that has not been obtained) pursuant to any material contract, instrument, agreement, relationship or legal obligation to which Investor is subject or to which any of its assets, operations or management may be subject. 

 

Section 3.8 DISCLOSURE; ACCESS TO INFORMATION. Investor had an opportunity to review copies of the SEC Documents filed on behalf of the Company and has had access to all publicly available information with respect to the Company. 

 

Section 3.9 MANNER OF SALE. At no time was Investor presented with or solicited by or through any leaflet, public promotional meeting, television advertisement or any other form of general solicitation or advertising. 

 

	 
	5

	

	 

 

ARTICLE IV 

REPRESENTATIONS AND WARRANTIES OF THE COMPANY 

 

The Company represents and warrants to Investor that, except as disclosed in the SEC Documents: 

 

Section 4.1 ORGANIZATION OF THE COMPANY. The Company is a corporation duly organized and validly existing and in good standing under the laws of the State of Colorado and has all requisite power and authority to own, lease and operate its properties and to carry on its business as now being conducted. The Company is duly qualified as a foreign corporation to do business and is in good standing in every jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, other than those in which the failure so to qualify would not have a Material Adverse Effect. 

 

Section 4.2 AUTHORITY. (a) The Company has the requisite corporate power and authority to enter into and perform its obligations under this Agreement and to issue the Put Shares; (b) the execution and delivery of this Agreement by the Company and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary corporate action and no further consent or authorization of the Company or its Board of Directors or stockholders is required; and (c) each of this Agreement and has been duly executed and delivered by the Company and constitutes a valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, or similar laws relating to, or affecting generally the enforcement of, creditors' rights and remedies or by other equitable principles of general application. 

 

Section 4.3 CAPITALIZATION. As of the date hereof, the authorized capital stock of the Company consists of 750,000,000 shares of Common Stock, $0.0001 par value per share, of which 350,000,000 shares were issued and outstanding as of July 31, 2015 

 

The company has issued and outstanding 5,000,000 shares of Class B Preferred Stock, which has a 100:1 voting rights and a conversion feature. The Class B Preferred Stock is controlled by William Waldrop and Lori Glauser, both Officers and Directors of the company. This stock is considered control stock and if converted would be subject SEC affiliate restrictions. 

 

All of the outstanding shares of Common Stock of the Company have been duly and validly authorized and issued and are fully paid and non-assessable. 

 

Section 4.4 COMMON STOCK. To the best of its knowledge, the Company is in full compliance with all reporting requirements of the Exchange Act, and the Company has maintained all requirements for the continued listing or quotation of the Common Stock, and such Common Stock is currently listed or quoted on the Principal Market which is presently the OTCQB. 

 

Section 4.5 SEC DOCUMENTS. The Company may make available to Investor true and complete copies of the SEC Documents (including, without limitation, proxy information and solicitation materials). To the Company's knowledge, the Company has not provided to Investor any information that, according to applicable law, rule or regulation, should have been disclosed publicly prior to the date hereof by the Company, but which has not been so disclosed. As of their respective dates, the SEC Documents complied in all material respects with the requirements of the Exchange Act, and other federal laws, rules and regulations applicable to such SEC Documents, and none of the SEC Documents contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. The financial statements of the Company included in the SEC Documents comply as to form and substance in all material respects with applicable accounting requirements and the published rules and regulations of the SEC or other applicable rules and regulations with respect thereto. Such financial statements have been prepared in accordance with generally accepted accounting principles applied on a consistent basis during the periods involved (except (a) as may be otherwise indicated in such financial statements or the notes thereto or (b) in the case of unaudited interim statements, to the extent they may not include footnotes or may be condensed or summary statements) and fairly present in all material respects the financial position of the Company as of the dates thereof and the results of operations and cash flows for the periods then ended (subject, in the case of unaudited statements, to normal year-end audit adjustments). 

 

	 
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Section 4.6 VALID ISSUANCES. When issued and paid for as herein provided, the Put Shares shall be duly and validly issued, fully paid, and non-assessable. The sales of the Put Shares pursuant to this Agreement, and the Company's performance of its obligations hereunder, shall not (a) result in the creation or imposition of any liens, charges, claims or other encumbrances upon the Put Shares, or any of the assets of the Company, or (b) entitle the holders of outstanding shares of Common Stock to preemptive or other rights to subscribe to or acquire the Common Stock or other securities of the Company. The Put Shares shall not subject Investor to personal liability, in excess of the subscription price by reason of the ownership thereof. 

 

Section 4.7 NO CONFLICTS. The execution, delivery and performance of this Agreement by the Company and the consummation by the Company of the transactions contemplated hereby, including without limitation the issuance of the Put Shares, do not and will not (a) result in a violation of the Company's Articles of Incorporation or By-Laws or (b) conflict with, or constitute a material default (or an event that with notice or lapse of time or both would become a material default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any material agreement, indenture, instrument or any "lock-up" or similar provision of any underwriting or similar agreement to which the Company is a party, or (c) result in a violation of any federal, state or local law, rule, regulation, order, judgment or decree (including federal and state securities laws and regulations) applicable to the Company or by which any property or asset of the Company is bound or affected (except for such conflicts, defaults, terminations, amendments, accelerations, cancellations and violations as would not, individually or in the aggregate, have a Material Adverse Effect) nor is the Company otherwise in violation of, conflict with or in default under any of the foregoing. The business of the Company is not being conducted in violation of any law, ordinance or regulation of any governmental entity, except for possible violations that either singly or in the aggregate do not and will not have a Material Adverse Effect. The Company is not required under federal, state or local law, rule or regulation to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency in order for it to execute, deliver or perform any of its obligations under this Agreement or issue and sell the Common Stock in accordance with the terms hereof (other than any SEC, FINRA or state securities filings that may be required to be made by the Company subsequent to any Closing, any registration statement that may be filed pursuant hereto); provided that, for purposes of the representation made in this sentence, the Company is assuming and relying upon the accuracy of the relevant representations and agreements of Investor herein. 

 

Section 4.8 NO MATERIAL ADVERSE CHANGE. Since January 1, 2015 no event has occurred that would have a Material Adverse Effect on the Company. 

 

Section 4.9 LITIGATION AND OTHER PROCEEDINGS. Except as disclosed in the Company's SEC filings, there are no lawsuits or proceedings pending or to the knowledge of the Company threatened, against the Company, nor has the Company received any written or oral notice of any such action, suit, proceeding or investigation, which would have a Material Adverse Effect. No judgment, order, writ, injunction or decree or award has been issued by or, so far as is known by the Company, requested of any court, arbitrator or governmental agency which would have a Material Adverse Effect. 

 

Section 4.10 DILUTION. The number of shares of Common Stock issuable as Put Shares may increase substantially in certain circumstances, including, but not necessarily limited to, the circumstance wherein the trading price of the Common Stock declines during the period between the Execution Date and the end of the Commitment Period. The Company's executive officers and directors have studied and fully understand the nature of the transactions contemplated by this Agreement and recognize that they have a potential dilutive effect. The board of directors of the Company has concluded in its good faith business judgment that such issuance is in the best interests of the Company. The Company specifically acknowledges that its obligation to issue the Put Shares is binding upon the Company and enforceable regardless of the dilution such issuance may have on the ownership interests of other shareholders of the Company. 

 

	 
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ARTICLE V 

COVENANTS OF INVESTOR 

 

Section 5.1 COMPLIANCE WITH LAW; TRADING IN SECURITIES. Investor's trading activities with respect to shares of the Common Stock will be in compliance with all applicable state and federal securities laws, rules and regulations and the rules and regulations of FINRA and the Principal Market on which the Common Stock is listed or quoted. 

 

Section 5.2 SHORT SALES AND CONFIDENTIALITY. Neither Investor nor any affiliate of the Investor acting on its behalf or pursuant to any understanding with it will execute any Short Sales during the period from the date hereof to the end of the Commitment Period. For the purposes hereof, and in accordance with Regulation SHO, the sale after delivery of a Put Notice of such number of shares of Common Stock reasonably expected to be purchased under a Put Notice shall not be deemed a Short Sale. 

 

Other than to other Persons party to this Agreement, Investor has maintained the confidentiality of all disclosures made to it in connection with this transaction (including the existence and terms of this transaction). 

 

ARTICLE VI 

COVENANTS OF THE COMPANY 

 

Section 6.1 RESERVATION OF COMMON STOCK. The Company will, from time to time as needed in advance of a Closing Date, reserve and keep available until the consummation of such Closing, free of preemptive rights sufficient shares of Common Stock for the purpose of enabling the Company to satisfy its obligation to issue the Put Shares to be issued in connection therewith. The number of shares so reserved from time to time, as theretofore increased or reduced as hereinafter provided, may be reduced by the number of shares actually delivered hereunder. 

 

Section 6.2 LISTING OF COMMON STOCK. If the Company applies to have the Common Stock traded on any other Principal Market, it shall include in such application the Put Shares, and shall take such other action as is necessary or desirable in the reasonable opinion of Investor to cause the Common Stock to be listed on such other Principal Market as promptly as possible. The Company shall use its commercially reasonable efforts to continue the listing and trading of the Common Stock on the Principal Market (including, without limitation, maintaining sufficient net tangible assets) and will comply in all respects with the Company's reporting, filing and other obligations under the bylaws or rules of the FINRA and the Principal Market. 

 

Section 6.3 CERTAIN AGREEMENTS. So long as this Agreement remains in effect, the Company covenants and agrees that it will not, without the prior written consent of the Investor, enter into any other equity line of credit agreement with a third party during the Commitment Period having terms and conditions substantially comparable to this Agreement. For the avoidance of doubt, nothing contained in the Transaction Documents shall restrict, or require the Investor's consent for, any agreement providing for the issuance or distribution of (or the issuance or distribution of) any equity securities pursuant to any agreement or arrangement that is not commonly understood to be an "equity line of credit." 

 

	 
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ARTICLE VII 

CONDITIONS TO DELIVERY OF 

PUT NOTICES AND CONDITIONS TO CLOSING 

 

Section 7.1 CONDITIONS PRECEDENT TO THE OBLIGATION OF THE COMPANY TO ISSUE AND SELL COMMON STOCK. The obligation hereunder of the Company to issue and sell the Put Shares to Investor is subject to the satisfaction of each of the conditions set forth below. 

 

		(a) 	ACCURACY OF INVESTOR'S REPRESENTATIONS AND WARRANTIES. The representations and warranties of Investor shall be true and correct in all material respects as of the date of this Agreement and as of the date of each such Closing as though made at each such time.
			
		(b) 	PERFORMANCE BY INVESTOR. Investor shall have performed, satisfied and complied in all respects with all covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by Investor at or prior to such Closing.
			
		(c) 	PRINCIPAL MARKET REGULATION. The Company shall not issue any Put Shares, and the Investor shall not have the right to receive any Put Shares, if the issuance of such shares would exceed the aggregate number of shares of Common Stock which the Company may issue without breaching the Company's obligations under the rules or regulations of the Principal Market (the "Exchange Cap").

 

Section 7.2 CONDITIONS PRECEDENT TO THE RIGHT OF THE COMPANY TO DELIVER A PUT NOTICE AND THE OBLIGATION OF INVESTOR TO PURCHASE PUT SHARES. The right of the Company to deliver a Put Notice and the obligation of Investor hereunder to acquire and pay for the Put Shares is subject to the satisfaction of each of the following conditions: 

 

		(a) 	EFFECTIVE REGISTRATION STATEMENT. The Registration Statement, and any amendment or supplement thereto, shall remain effective for the sale by Investor of the Registered Securities subject to such Put Notice, and (i) neither the Company nor Investor shall have received notice that the SEC has issued or intends to issue a stop order with respect to such Registration Statement or that the SEC otherwise has suspended or withdrawn the effectiveness of such Registration Statement, either temporarily or permanently, or intends or has threatened to do so and (ii) no other suspension of the use or withdrawal of the effectiveness of such Registration Statement or related prospectus shall exist.
			
		(b) 	ACCURACY OF THE COMPANY'S REPRESENTATIONS AND WARRANTIES. The representations and warranties of the Company shall be true and correct in all material respects (except for representations and warranties specifically made as of a particular date), except for any conditions which have temporarily caused any representations or warranties herein to be incorrect and which have been corrected with no continuing impairment to the Company or Investor.
			
		(c) 	PERFORMANCE BY THE COMPANY. The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Company.
			
		(d) 	NO INJUNCTION. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or adopted by any court or governmental authority of competent jurisdiction that prohibits or directly and materially adversely affects any of the transactions contemplated by this Agreement, and no proceeding shall have been commenced that may have the effect of prohibiting or materially adversely affecting any of the transactions contemplated by this Agreement.
			
		(e) 	ADVERSE CHANGES. Since the date of filing of the Company's most recent SEC Document, no event that had or is reasonably likely to have a Material Adverse Effect has occurred.
			
		(f) 	NO SUSPENSION OF TRADING IN OR DELISTING OF COMMON STOCK. The trading of the Common Stock shall not have been suspended by the SEC, the Principal Market or the FINRA and the Common Stock shall have been approved for listing or quotation on and shall not have been delisted from the Principal Market.
			
		(g) 	TEN PERCENT LIMITATION. On each Closing Date, the number of Put Shares then to be purchased by Investor shall not exceed the number of such shares that, when aggregated with all other shares of Common Stock then owned by Investor beneficially or deemed beneficially owned by Investor, would result in Investor owning more than 9.99% of all of such Common Stock as would be outstanding on such Closing Date, as determined in accordance with Section 16 of the Exchange Act and the regulations promulgated thereunder. For purposes of this Section, in the event that the amount of Common Stock outstanding as determined in accordance with Section 16 of the Exchange Act and the regulations promulgated thereunder is greater on a Closing Date than on the date upon which the Put Notice associated with such Closing Date is given, the amount of Common Stock outstanding on such Closing Date shall govern for purposes of determining whether Investor, when aggregating all purchases of Common Stock made pursuant to this Agreement, would own more than 9.99% of the Common Stock following such Closing Date.
			
		(h) 	PRINCIPAL MARKET REGULATION. The Company shall not issue any Put Shares, and the Investor shall not have the right to receive any Put Shares, if the issuance of such shares would exceed the Exchange Cap.
			
		(i) 	NO KNOWLEDGE. The Company shall have no knowledge of any event more likely than not to have the effect of causing such Registration Statement to be suspended or otherwise ineffective (which event is more likely than not to occur within the fifteen (15) Trading Days following the Trading Day on which such Put Notice is deemed delivered).
			
		(j) 	NO VIOLATION OF SHAREHOLDER APPROVAL REQUIREMENT. The issuance of shares of Common Stock with respect to the applicable Closing, if any, shall not violate the shareholder approval requirements of the Principal Market.
			
		(k) 	OTHER. On the date of delivery of each Put Notice, Investor shall have received a certificate in substantially the form and substance of Exhibit B hereto, executed by an executive officer of the Company and to the effect that all the conditions to such Closing shall have been satisfied as at the date of each such certificate.

 

	 
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ARTICLE VIII 

LEGENDS 

 

Section 8.1 NO STOCK LEGEND OR STOCK TRANSFER RESTRICTIONS. No legend shall be placed on the share certificates representing the Put Shares. 

 

Section 8.2 INVESTOR'S COMPLIANCE. Nothing in this Article VIII shall affect in any way Investor's obligations under any agreement to comply with all applicable securities laws upon the sale of the Common Stock. 

 

ARTICLE IX 

NOTICES; INDEMNIFICATION 

 

Section 9.1 NOTICES. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing and, unless otherwise specified herein, shall be (a) personally served, (b) deposited in the mail, registered or certified, return receipt requested, postage prepaid, (c) delivered by reputable air courier service with charges prepaid, or (d) transmitted by hand delivery, telegram, or email as a PDF, addressed as set forth below or to such other address as such party shall have specified most recently by written notice given in accordance herewith. Any notice or other communication required or permitted to be given hereunder shall be deemed effective (i) upon hand delivery or delivery by email at the address designated below (if delivered on a business day during normal business hours where such notice is to be received), or the first business day following such delivery (if delivered other than on a business day during normal business hours where such notice is to be received) or (ii) on the second business day following the date of mailing by express courier service or on the fifth business day after deposited in the mail, in each case, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur. 

 

The addresses for such communications shall be: 

 

If to the Company: 

Signal Bay, Inc. 

9484 South Eastern Avenue 

Suite #141 

Las Vegas, NV 89123

william@signalbayinc.com

 

If to the Investor: 

Kodiak Capital Group, LLC 

260 Newport Center Drive 

Newport Beach, CA 92660 

ryan@kodiakfunds.com

 

Either party hereto may from time to time change its address or email for notices under this Section 9.1 by giving at least ten (10) days' prior written notice of such changed address to the other party hereto. 

 

	 
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Section 9.2 INDEMNIFICATION. Each party (an "Indemnifying Party") agrees to indemnify and hold harmless the other party along with its officers, directors, employees, and authorized agents, and each Person or entity, if any, who controls such party within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (an "Indemnified Party") from and against any Damages, joint or several, and any action in respect thereof to which the Indemnified Party becomes subject to, resulting from, arising out of or relating to (i) any misrepresentation, breach of warranty or nonfulfillment of or failure to perform any covenant or agreement on the part of Indemnifying Party contained in this Agreement, (ii) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any post-effective amendment thereof or supplement thereto, or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading, (iii) any untrue statement or alleged untrue statement of a material fact contained in any preliminary prospectus or contained in the final prospectus (as amended or supplemented, if the Company files any amendment thereof or supplement thereto with the SEC) or the omission or alleged omission to state therein any material fact necessary to make the statements made therein, in the light of the circumstances under which the statements therein were made, not misleading, or (iv) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any state securities law or any rule or regulation under the Securities Act, the Exchange Act or any state securities law, as such Damages are incurred, except to the extent such Damages result primarily from Indemnified Party's failure to perform any covenant or agreement contained in this Agreement or Indemnified Party's negligence, recklessness or bad faith in performing its obligations under this Agreement; provided, however, that the foregoing indemnity agreement shall not apply to any Damages of an Indemnified Party to the extent, but only to the extent, arising out of or based upon any untrue statement or alleged untrue statement or omission or alleged omission made by an Indemnifying Party in reliance upon and in conformity with written information furnished to the Indemnifying Party by the Indemnified Party expressly for use in the Registration Statement, any post-effective amendment thereof or supplement thereto, or any preliminary prospectus or final prospectus (as amended or supplemented).  

 

Section 9.3 METHOD OF ASSERTING INDEMNIFICATION CLAIMS. All claims for indemnification by any Indemnified Party (as defined below) under Section 9.2 shall be asserted and resolved as follows: 

 

(a) In the event any claim or demand in respect of which an Indemnified Party might seek indemnity under Section 9.2 is asserted against or sought to be collected from such Indemnified Party by a person other than a party hereto or an affiliate thereof (a "THIRD PARTY CLAIM"), the Indemnified Party shall deliver a written notification, enclosing a copy of all papers served, if any, and specifying the nature of and basis for such Third Party Claim and for the Indemnified Party's claim for indemnification that is being asserted under any provision of Section 9.2 against an Indemnifying Party, together with the amount or, if not then reasonably ascertainable, the estimated amount, determined in good faith, of such Third Party Claim (a "CLAIM NOTICE") with reasonable promptness to the Indemnifying Party. If the Indemnified Party fails to provide the Claim Notice with reasonable promptness after the Indemnified Party receives notice of such Third Party Claim, the Indemnifying Party shall not be obligated to indemnify the Indemnified Party with respect to such Third Party Claim to the extent that the Indemnifying Party's ability to defend has been prejudiced by such failure of the Indemnified Party. The Indemnifying Party shall notify the Indemnified Party as soon as practicable within the period ending thirty (30) calendar days following receipt by the Indemnifying Party of either a Claim Notice or an Indemnity Notice (as defined below) (the "DISPUTE PERIOD") whether the Indemnifying Party disputes its liability or the amount of its liability to the Indemnified Party under Section 9.2 and whether the Indemnifying Party desires, at its sole cost and expense, to defend the Indemnified Party against such Third Party Claim. 

 

(i) If the Indemnifying Party notifies the Indemnified Party within the Dispute Period that the Indemnifying Party desires to defend the Indemnified Party with respect to the Third Party Claim pursuant to this Section 9.3(a), then the Indemnifying Party shall have the right to defend, with counsel reasonably satisfactory to the Indemnified Party, at the sole cost and expense of the Indemnifying Party, such Third Party Claim by all appropriate proceedings, which proceedings shall be vigorously and diligently prosecuted by the Indemnifying Party to a final conclusion or will be settled at the discretion of the Indemnifying Party (but only with the consent of the Indemnified Party in the case of any settlement that provides for any relief other than the payment of monetary damages or that provides for the payment of monetary damages as to which the Indemnified Party shall not be indemnified in full pursuant to Section 9.2). The Indemnifying Party shall have full control of such defense and proceedings, including any compromise or settlement thereof; provided, however, that the Indemnified Party may, at the sole cost and expense of the Indemnified Party, at any time prior to the Indemnifying Party's delivery of the notice referred to in the first sentence of this clause (i), file any motion, answer or other pleadings or take any other action that the Indemnified Party reasonably believes to be necessary or appropriate to protect its interests; and provided further, that if requested by the Indemnifying Party, the Indemnified Party will, at the sole cost and expense of the Indemnifying Party, provide reasonable cooperation to the Indemnifying Party in contesting any Third Party Claim that the Indemnifying Party elects to contest. The Indemnified Party may participate in, but not control, any defense or settlement of any Third Party Claim controlled by the Indemnifying Party pursuant to this clause (i), and except as provided in the preceding sentence, the Indemnified Party shall bear its own costs and expenses with respect to such participation. Notwithstanding the foregoing, the Indemnified Party may takeover the control of the defense or settlement of a Third Party Claim at any time if it irrevocably waives its right to indemnity under Section 9.2 with respect to such Third Party Claim. 

 

	 
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(ii) If the Indemnifying Party fails to notify the Indemnified Party within the Dispute Period that the Indemnifying Party desires to defend the Third Party Claim pursuant to Section 9.3(a), or if the Indemnifying Party gives such notice but fails to prosecute vigorously and diligently or settle the Third Party Claim, or if the Indemnifying Party fails to give any notice whatsoever within the Dispute Period, then the Indemnified Party shall have the right to defend, at the sole cost and expense of the Indemnifying Party, the Third Party Claim by all appropriate proceedings, which proceedings shall be prosecuted by the Indemnified Party in a reasonable manner and in good faith or will be settled at the discretion of the Indemnified Party(with the consent of the Indemnifying Party, which consent will not be unreasonably withheld). The Indemnified Party will have full control of such defense and proceedings, including any compromise or settlement thereof; provided, however, that if requested by the Indemnified Party, the Indemnifying Party will, at the sole cost and expense of the Indemnifying Party, provide reasonable cooperation to the Indemnified Party and its counsel in contesting any Third Party Claim which the Indemnified Party is contesting. Notwithstanding the foregoing provisions of this clause (ii), if the Indemnifying Party has notified the Indemnified Party within the Dispute Period that the Indemnifying Party disputes its liability or the amount of its liability hereunder to the Indemnified Party with respect to such Third Party Claim and if such dispute is resolved in favor of the Indemnifying Party in the manner provided in clause (iii) below, the Indemnifying Party will not be required to bear the costs and expenses of the Indemnified Party's defense pursuant to this clause (ii) or of the Indemnifying Party's participation therein at the Indemnified Party's request, and the Indemnified Party shall reimburse the Indemnifying Party in full for all reasonable costs and expenses incurred by the Indemnifying Party in connection with such litigation. The Indemnifying Party may participate in, but not control, any defense or settlement controlled by the Indemnified Party pursuant to this clause (ii), and the Indemnifying Party shall bear its own costs and expenses with respect to such participation. 

 

(iii) If the Indemnifying Party notifies the Indemnified Party that it does not dispute its liability or the amount of its liability to the Indemnified Party with respect to the Third Party Claim under Section 9.2 or fails to notify the Indemnified Party within the Dispute Period whether the Indemnifying Party disputes its liability or the amount of its liability to the Indemnified Party with respect to such Third Party Claim, the amount of Damages specified in the Claim Notice shall be conclusively deemed a liability of the Indemnifying Party under Section 9.2 and the Indemnifying Party shall pay the amount of such Damages to the Indemnified Party on demand. If the Indemnifying Party has timely disputed its liability or the amount of its liability with respect to such claim, the Indemnifying Party and the Indemnified Party shall proceed in good faith to negotiate a resolution of such dispute; provided, however, that if the dispute is not resolved within thirty (30) days after the Claim Notice, the Indemnifying Party shall be entitled to institute such legal action as it deems appropriate. 

 

(b) In the event any Indemnified Party should have a claim under Section 9.2 against the Indemnifying Party that does not involve a Third Party Claim, the Indemnified Party shall deliver a written notification of a claim for indemnity under Section 9.2 specifying the nature of and basis for such claim, together with the amount or, if not then reasonably ascertainable, the estimated amount, determined in good faith, of such claim (an "INDEMNITY NOTICE") with reasonable promptness to the Indemnifying Party. The failure by any Indemnified Party to give the Indemnity Notice shall not impair such party's rights hereunder except to the extent that the Indemnifying Party demonstrates that it has been irreparably prejudiced thereby. If the Indemnifying Party notifies the Indemnified Party that it does not dispute the claim or the amount of the claim described in such Indemnity Notice or fails to notify the Indemnified Party within the Dispute Period whether the Indemnifying Party disputes the claim or the amount of the claim described in such Indemnity Notice, the amount of Damages specified in the Indemnity Notice will be conclusively deemed a liability of the Indemnifying Party under Section 9.2 and the Indemnifying Party shall pay the amount of such Damages to the Indemnified Party on demand. If the Indemnifying Party has timely disputed its liability or the amount of its liability with respect to such claim, the Indemnifying Party and the Indemnified Party shall proceed in good faith to negotiate a resolution of such dispute; provided, however, that if the dispute is not resolved within thirty (30) days after the Claim Notice, the Indemnifying Party shall be entitled to institute such legal action as it deems appropriate. 

 

(c) The Indemnifying Party agrees to pay the Indemnified Party, promptly as such expenses are incurred and are due and payable, for any reasonable legal fees or other reasonable expenses incurred by them in connection with investigating or defending any such Claim. 

 

(d) The indemnity provisions contained herein shall be in addition to (i) any cause of action or similar rights of the Indemnified Party against the Indemnifying Party or others, and (ii) any liabilities the Indemnifying Party may be subject to. 

 

	 
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ARTICLE X 

MISCELLANEOUS 

 

Section 10.1 GOVERNING LAW; JURISDICTION. This Agreement shall be governed by and interpreted in accordance with the laws of the State of California without regard to the principles of conflicts of law. Each of the Company and Investor hereby submit to the exclusive jurisdiction of the United States Federal and state courts located in Orange County, California with respect to any dispute arising under this Agreement, the agreements entered into in connection herewith or the transactions contemplated hereby or thereby. 

 

Section 10.2 JURY TRIAL WAIVER. The Company and the Investor hereby waive a trial by jury in any action, proceeding or counterclaim brought by either of the parties hereto against the other in respect of any matter arising out of or in connection with the Transaction Documents. 

 

Section 10.3 ASSIGNMENT. This Agreement shall be binding upon and inure to the benefit of the Company and Investor and their respective successors. Neither this Agreement nor any rights of Investor or the Company hereunder may be assigned by either party to any other person. 

 

Section 10.4 THIRD PARTY BENEFICIARIES. This Agreement is intended for the benefit of the Company and Investor and their respective successors, and is not for the benefit of, nor may any provision hereof be enforced by, any other person. 

 

Section 10.5 TERMINATION. The Company may terminate this Agreement at any time by written notice to the Investor. Additionally, this Agreement shall terminate at the end of Commitment Period or as otherwise provided herein; provided, however, that the provisions of Articles IX, and Sections 10.1 and 10.2 shall survive the termination of this Agreement for a period of twenty four (24) months. 

 

Section 10.6 ENTIRE AGREEMENT, AMENDMENT; NO WAIVER. This Agreement and the instruments referenced herein contain the entire understanding of the Company and Investor with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither the Company nor Investor makes any representation, warranty, covenant or undertaking with respect to such matters. This Agreement may not be amended. 

 

Section 10.7 FEES AND EXPENSES. The Company agrees to pay its own expenses in connection with the preparation of this Agreement and performance of its obligations hereunder. The Company shall pay all stamp or other similar taxes and duties levied in connection with issuance of the Put Shares pursuant hereto. 

 

Section 10.8 COUNTERPARTS. This Agreement may be executed in multiple counterparts, each of which may be executed by less than all of the parties and shall be deemed to be an original instrument which shall be enforceable against the parties actually executing such counterparts and all of which together shall constitute one and the same instrument. This Agreement may be delivered to the other parties hereto by email of a copy of this Agreement bearing the signature of the parties so delivering this Agreement. 

 

Section 10.9 SEVERABILITY. In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision; provided that such severability shall be ineffective if it materially changes the economic benefit of this Agreement to any party. 

 

Section 10.10 FURTHER ASSURANCES. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby. 

 

	 
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Section 10.11 NO STRICT CONSTRUCTION. The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any party. 

 

Section 10.12 EQUITABLE RELIEF. The Company recognizes that in the event that it fails to perform, observe, or discharge any or all of its obligations under this Agreement, any remedy at law may prove to be inadequate relief to Investor. The Company therefore agrees that Investor shall be entitled to temporary and permanent injunctive relief in any such case without the necessity of proving actual damages. 

 

Section 10.13 TITLE AND SUBTITLES. The titles and subtitles used in this Agreement are used for the convenience of reference and are not to be considered in construing or interpreting this Agreement. 

 

Section 10.14 REPORTING ENTITY FOR THE COMMON STOCK. The reporting entity relied upon for the determination of the Closing Price for the Common Stock on any given Trading Day for the purposes of this Agreement shall be Bloomberg Finance L.P. or any successor thereto. The written mutual consent of Investor and the Company shall be required to employ any other reporting entity. 

 

Section 10.15 PUBLICITY. The Company and Investor shall consult with each other in issuing any press releases or otherwise making public statements with respect to the transactions contemplated hereby and no party shall issue any such press release or otherwise make any such public statement without the prior written consent of the other parties, which consent shall not be unreasonably withheld or delayed, except that no prior consent shall be required if such disclosure is required by law, in which such case the disclosing party shall provide the other parties with prior notice of such public statement. Notwithstanding the foregoing, the Company shall not publicly disclose the name of Investor without the prior written consent of such Investor, except to the extent required by law. Investor acknowledges that this Agreement and all or part of the Transaction Documents may be deemed to be "material contracts" as that term is defined by Item 601(b)(10) of Regulation S-K, and that the Company may therefore be required to file such documents as exhibits to reports or registration statements filed under the Securities Act or the Exchange Act. Investor further agrees that the status of such documents and materials as material contracts shall be determined solely by the Company, in consultation with its counsel. 

 

[-Signature page follows-] 

 

	 
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IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed by their respective officers thereunto duly authorized as of the day and year first above written. 

 

	
 
	COMPANY: 
 

SIGNAL BAY, INC. 
	
 

	 	 	 	 
		By:	/s/ William Waldrop 	
 

	
 
	
Name:
	William Waldrop 	
 

	
 
	
Title:
	Chief Executive Officer 	
 

  

	
 
	INVESTOR: 
 

KODIAK CAPITAL GROUP, LLC 
	
 

	 	 	 	 
		By:	/s/ Ryan C. Hodson	
 

	
 
	
Name:
	Ryan C. Hodson	
 

	
 
	
Title:
	Managing Member	
 

 

[-Signature page to Equity Purchase Agreement-] 

 

	 
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EXHIBIT A 

 

FORM OF PUT NOTICE 

 

TO: KODIAK CAPITAL GROUP, LLC 

 

We refer to the Equity Purchase Agreement dated July 31, 2015 (the "Agreement") entered into by SIGNAL BAY, INC. (the "Company") and you. Capitalized terms defined in the Agreement shall, unless otherwise defined, have the same meaning when used herein. 

 

We hereby: 

 

	(1) 	Give you notice that we require you to purchase ______________ Put Shares;
		
	(2) 	Certify that, as of the date hereof, to the best of our knowledge, the conditions set forth in Section 7.2 of the Agreement are satisfied.

 

	
 
	
SIGNAL BAY, INC. 
	
 

	 	 	 	 
	Date: _____________, 2015 	By:	/s/ William Waldrop 	
 

	
 
	
Name:
	William Waldrop 	
 

	
 
	
Title:
	Chief Executive Officer 	
 

 

	 
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EXHIBIT B 

 

FORM OF CERTIFICATE OF THE CHIEF EXECUTIVE OFFICER OF SIGNAL BAY, INC. 

 

Pursuant to Section 7.2(l) of that certain Equity Purchase Agreement dated July 31, 2015 (the "Agreement") by and between the Company and KODIAK CAPITAL GROUP, LLC (the "Investor"), the undersigned, in his capacity as the Chief Executive Officer of SIGNAL BAY, INC. (the "Company"), and not in his individual capacity, hereby certifies, as of the date hereof (such date, the "Condition Satisfaction Date"), the following: 

 

1. The representations and warranties of the Company are true and correct in all material respects as of the Condition Satisfaction Date as though made on the Condition Satisfaction Date (except for representations and warranties specifically made as of a particular date) with respect to all periods, and as to all events and circumstances occurring or existing to and including the Condition Satisfaction Date, except for any conditions which have temporarily caused any representations or warranties of the Company set forth in the Agreement to be incorrect and which have been corrected with no continuing impairment to the Company or Investor; and 

 

2. All of the Company's conditions to Closing set forth in Section 7.2 of the Agreement have been satisfied as of the Condition Satisfaction Date. 

 

Capitalized terms used herein shall have the meanings set forth in the Agreement unless otherwise defined herein. 

 

IN WITNESS WHEREOF, the undersigned has hereunto affixed his hand as of the 31st day of July 2015. 

 

	 	 	 	 
		By:	/s/ William Waldrop 	
 

	
 
	
Name:
	William Waldrop 	
 

	
 
	
Title:
	Chief Executive Officer 	
 

 

 

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