Document:

Exhibit 10.1

 

 

EMPLOYMENT AGREEMENT

(Senior Executive Level)

 

THIS AGREEMENT made as of the 20th day
of February, 2015 (the”Effective Date"). 

 

BETWEEN:

 

RealBiz Media Group, Inc.

 

(the "Company")

 

- and -

 

Alex Aliksanyan

(the "Executive")

 

WHEREAS the Company
is engaged in the ownership and management of real estate, television and media related services (the "Business");
and

 

WHEREAS
the Company desires to employ Executive as defined and as per the duties set forth in Exhibit A and Executive desires to accept
such employment in the Business, subject to the terms, conditions
and covenants herein provided; and

 

WHEREAS both parties
have agreed to execute, deliver and perform this Agreement;

 

NOW
THEREFORE in consideration of the mutual covenants herein contained and other good and valuable consideration, the Company
and the Executive agree as follows:

 

POSITION

 

The
Company hereby employs the Executive and the Executive agrees to dedicate such attention and time as is necessary for him to perform
his duties in the position as set forth in Exhibit A for the Company and will assume the role on the terms and conditions herein
contained. Notwithstanding any other provision of this Agreement, Executive
may continue to conduct business for other third parties that do not compete with the Company so long as such other business that
is conducted does not interfere with or conflict with Executive's
duties and responsibilities for Company. Executive agrees
not to use the Company’s time, material or facilities in performance of his work for such other third parties.

 

1.
           The Executive shall report to the Chairman
and CEO of the Company and other Senior Officers as the Chairman may direct.

 

2.
           The Executive
shall have such duties and responsibilities consistent with his position as a senior officer as the CEO shall reasonably determine.
Initially, such duties and responsibilities will include those set forth on Exhibit B hereto.

 

    	 

    	 

    

 

3.             The
Executive shall work when requested out of the Weston, Florida offices, but it is understood that the Executive shall work primarily
out of New York, N.Y.

 

4.             The Executive will
agree to work with other Officers including the Chairman, CEO, CFO, CRO and CTO to prepare budgets for the Company, develop sales
and supporting reporting systems, develop new business
opportunities assist with product development, technology development and help to implement the media programs in an overall effort
to aid the corporation in achieving its sales and operational goals in an efficient and fiscally responsible manner.

 

REMUNERATION

 

5.             Salary

 

The Executive shall receive
no less than the minimum base salary from the Company during his employment hereunder at the annual rate set forth in Exhibit A.
This amount shall be payable in periodic installments in accordance with the usual payroll of the Company during the Term hereof
(the "Salary"), payable in accordance with the Company's payroll practices in force from time to time and shall
be inclusive of all applicable income, and other taxes
and charges that are required by law to be withheld by the Company or the Executive.

 

6.             Bonus

 

The
Executive will be eligible to earn a bonus as described in Exhibit A, paid
in the form of shares of the Company's common stock.

 

7.
            Stock

 

The
Company wants to incentivize the Executive to improve efficiencies, drive revenues and lower expenses. The Company shall issue
to Executive 750,000 shares of the Company's common stock
based upon the requirements as set forth in Exhibit A. Additionally the Executive will be eligible to participate in the Company's
Plan for stock options to be set under similar terms and conditions as those of other senior management. Note - Stock options are
only granted when approved by Board.

 

EXPENSES

 

8.
            The Company shall pay all necessary and reasonable business expenses as approved by the Company's Chairman which approval shall
not be unreasonably withheld, and which are actually and
properly incurred by the Executive in furtherance of or in connection with the Business, including without limitation, all business
related travel and parking expenses, public relations expenses and all business related entertainment expenses (whether incurred
at the Executive's residence, while traveling or otherwise). If any such expenses are paid in the first instance by the Executive,
the Company shall reimburse him, subject
to the receipt by the Company of statements and vouchers in a form reasonably satisfactory to the Company.

 

    	 

    	 

    

 

VACATION

 

9.
          The Executive shall be entitled to the number of weeks of vacation set forth in Exhibit A (in
addition to the Company national holidays) during each contract year which he serves hereunder. Such vacation shall be taken at
such time or times as will be mutually agreed between the Executive and the Company.

 

TERM

 

10.
         The initial term of this Agreement (the "Initial Term"), and the employment hereunder, shall be for a period
of set forth in Exhibit A.

 

TERMINATION

 

	11.	(a)	Events
                                         of Termination. The Term,
                                          the
                                         Executive's Salary and any and all   other
                                          rights  of the  Executive  under this Agreement  or otherwise
                                          as an Executive of the Company will terminate (except as otherwise provided
                                         in herein):

 

		(i)	upon the death of the Executive;

 

		(ii)	upon the disability of the Executive (as defined in section
11 (b)) immediately upon notice from either party to the other;

 

		(iii)	For Cause (as defined in section 11 (c)), immediately upon notice
from the Company to the Executive or at such later time as such notice may specify;

 

		(iv)	Other than For Cause, Disability or Death, immediately upon notice from the Company to the Executive
or at such later time as such notice may specify;

 

		(v)	Other than for Good Reason by Executive, immediately upon notice from
the Executive to the Company or at such later time as such notice may specify; or

 

		(vi)	For Good Reason (as defined in Section 11 (d)) upon not
less than 10 calendar days' prior notice from the Executive to the Company.

 

		(b)	Definition of Disability. For the purposes of section 11
                                                                                                       (a), the Executive will be deemed to have a "disability", for physical or mental reasons, the
                                                                                                       Executive is unable to perform the Executive's duties for a period of 120 days out of 180 days, under this Agreement as
                                                                                                       determined in accordance with this section 11 (b). The disability of the Executive will be determined by a medical doctor
                                                                                                       selected by written agreement of the Company and the Executive upon the request of either party by notice to the other. If
                                                                                                       the Company and the Executive cannot agree on the selection of a medical doctor, each of them will select a medical doctor
                                                                                                       and the two medical doctors will select a third medical doctor who will determine whether the Executive has a disability. The
determination of the medical doctor selected under this section 11 (b) will be binding on both parties.

  

    	 

    	 

    

 

		(c)	Definition of "For Cause". For the purposes of section 11 (a), the phrase "For
Cause" means: (i) the Executive's material breach of this Agreement; (ii) the Executive's
failure to substantially perform the duties of Chief Operating Officer (or such other position with the Company as Executive may
hold) as contemplated hereunder; (iii) the Executive's failure to substantially adhere to any reasonable written Company policy
if the Executive has been given a reasonable opportunity to comply with such policy or cure his failure to comply; (iv) the misappropriation
by the Executive of a material business opportunity of the Company, including securing any undisclosed personal profit in connection
with any transaction entered into on behalf of the Company; (v) the misappropriation of any of the Company's funds, property or
Confidential Information; (vi) the commission of material acts of dishonesty, willfully fraudulent or criminal acts or misconduct,
or other willfully wrongful acts or omissions materially adversely affecting the Company; or
(vii) the conviction of, the indictment for or its procedural equivalent or the entering of a guilty plea or plea of no contest
with respect to any felony.

 

		(d)	Definition of "For Good Reason." For the purposes of section 11 (a), the phrase
"For Good Reason" means the Company's material breach of this Agreement.

 

		(e)	Termination Pay. Effective
upon the termination of this Agreement for any of the reasons set forth in section11 (a), the
Company shall be obligated to pay the Executive (or in the event of his death, his designated beneficiary as defined below) the
amounts set forth below, as well as all business expenses recoverable under Section 8. For purposes of this section ·11
(e), the Executive's designated beneficiary will be such individual beneficiary or trust, located at such address, as the Executive
may designate by notice to the Company from time to time or if the Executive fails to give notice to the Company of such a beneficiary,
the Executive's estate. Notwithstanding the preceding sentence the Company will have no duty, in any circumstances, to attempt
to open an estate on behalf of the Executive, to determine whether any beneficiary designated by the Executive is alive or to ascertain
the address of any such beneficiary, to determine the existence of any trust, to determine whether any person or entity purporting
to act as the Executive's personal representative (or the trustee of a trust established by the Executive) is duly authorized to
act in that capacity or to locate or attempt to locate any beneficiary, personal representative, or trustee.

 

		(i)	Termination by the Executive
For Good Reason. If the Executive terminates this Agreement For Good Reason, the Company shall pay the Executive his Salary
and other benefits, including shares, earned or accrued
through the date of termination. Additionally, all shares held in escrow, or subject to vesting schedules shall accelerate and/or
be released, and distributed according to the terms of
the relevant escrow agreement as though the vesting/release conditions had been met in the ordinary course. In the event
such a termination occurs within six (6) months of the Effective Date herein, Executive
may elect (at its sole discretion) to initiate an "unwind event"as described in the Asset Purchase Agreement between
ReachFactor, Inc., the Company, Executive and Arun Srinivasan
(the "APA").

 

    	 

    	 

    

 

		(ii)	Termination by the Company For Cause. If the Company terminates this Agreement For Cause,
the Company shall pay Executive his Salary and other benefits earned or accrued through the date of termination.

 

		(iii)	Termination upon Disability. If this Agreement is terminated by either party as a result
of the Executive's disability, as determined under section 11 (a)(ii), the Company shall pay the Executive his Salary and other
benefits earned or accrued through the remainder of the calendar month during which such termination is effective.

 

		(iv)	Termination upon Death. If this Agreement is terminated because
of the Executive's death, the Company shall pay Executive's
estate or designated beneficiary the Executive's Salary and other benefits earned or accrued through the date of death.

 

		(v)	Termination by Company Other than for Cause, Disability or Death.
If the Company terminates this Agreement other than For Cause or for death or disability, then the Company shall pay Executive
his Salary and other benefits earned or accrued through the date of termination. Additionally, all shares held in escrow, or subject
to vesting schedules shall accelerate and/or be released, and
distributed according to the terms of the relevant escrow agreement as though the vesting/release conditions had been met in the
ordinary course. In the event such a termination occurs within six (6) months of the Effective Date herein,
Executive may elect (at its sole discretion) to initiate an "unwind event" as described
in the APA.

 

		(vi)	Termination by Executive Without Good Reason. If the Executive
terminates this Agreement without Good Reason, the Company shall pay Executive his Salary and other benefits earned or accrued
through the date of termination.

 

CONFIDENTIALITY AND INTELLECTUAL
PROPERTY

 

	12.	(a)	All
confidential records, material, information and all trade secrets concerning the business or affairs of the Company obtained by
the Executive in the course of his employment with the Company shall remain the exclusive property of the Company.
During the Executive's employment or at any time thereafter, the Executive shall not divulge
the contents of such confidential records, material, information or trade secrets to any person, firm or corporation other than
to the Company or the Company's qualified Executives and following the termination of his employment hereunder the Executive
shall not, for any reason, use the contents of such confidential records, material, information or trade secrets for any purpose
whatsoever. This Section shall survive the termination of this Agreement. This Section shall not apply to any confidential records,
material, information or trade secrets which as proven by written documentation:

 

    	 

    	 

    

 

		(1)	is or becomes publicly known through the lawful action of any third party;

 

		(2)	is disclosed without restriction to the Executive by
a third party; 

 

		(3)	is known by the Executive prior to its disclosure by
the Company;

 

		(4)	is subsequently developed by the Executive, independently of records, material, information and
trade secrets supplied to the Executive by the Company;

 

		(5)	has been made available by the Company directly or indirectly to a third party without obligation
of confidentiality; or

 

		(6)	the Executive is obligated to produce as a result of a court order or pursuant to governmental
or other legal action, provided that the Company shall have been given written notice of such court order or governmental or other
legal action (if permitted by law or requesting authority) and an opportunity to appear and object.

 

INTELLECTUAL PROPERTY

 

(b) The
Executive agrees that any invention, improvement, discovery, process, formula, or method or other intellectual property, whether
or not patentable or copyrightable, conceived or first reduced to practice by Executive, either alone or jointly with others,
relating to the performance of services hereunder , the business of the Company or the business of Next 1 Interactive, Inc. (or,
if based on any of the Company Confidential Information, after
the expiration or termination of the Term) (collectively, "Inventions") shall belong exclusively to the Company and
the Executive hereby assigns to the Company all title and interest, including copyright and patent rights, thereto and waives
any moral rights which the Executive may have therein. If the Executive develops, prepares or works on the design or development
of Inventions related to the performance of services hereunder the business of the Company or the business of Next 1 Interactive,
Inc. during the Term, the Executive will keep notes and other written records of such work, which records shall be kept on the
premises of the Company and made available to the Company at all times for the purpose of evaluation and use in obtaining copyright
protection or as a protective procedure. If the Executive develops, prepares or works on the design or development of Inventions
while at the Company facilities, the Inventions shall belong exclusively to the Company and the Executive hereby assigns to the
Company all title and interest, including copyright and patent rights, thereto and waives any moral rights which the Executive
may have therein. The Executive will upon request of the Company, and at the Company's expense, provide a reasonable level
of assistance to the Company with respect to applications for trademarks, copyrights, patents or other forms of intellectual property
protection for work on which the Executive was involved during the Term. The Executive agrees to execute such documents as are
reasonable and necessary for the purpose of the Company establishing its right of ownership to such property. Without limiting
the foregoing, Executive further acknowledges that all original works of authorship by Executive,
whether created alone or jointly with others, related
to Executive's employment with the Company and which are protectable by copyright, are "works made for hire"
within the meaning of the United States Copyright Act, 17 U. S. C. (S) 101, as amended, and the copyright of which shall be owned
solely, completely and exclusively by the Company. If any Invention is considered to be work not
included in the categories of work covered by the United States Copyright Act, 17 U. S. C. (S) 101, as amended, such work is hereby
assigned or transferred completely and exclusively to the Company. Executive hereby irrevocably designates counsel to the Company
as Executive's agent and attorney-in-fact to do all lawful acts necessary to apply for and obtain patents and copyrights and to
enforce the Company rights under this Section. This Section shall survive the termination of this Agreement. Any assignment of
copyright hereunder includes all rights of paternity, integrity,
disclosure and withdrawal and any other rights that may be known as or referred to as "moral rights" (collectively "Moral
Rights"). To the extent such Moral Rights cannot be assigned under applicable law and to the extent the following is allowed
by the laws in the various countries where Moral Rights exist, Executive hereby waives such Moral Rights and consents to any action
of the Company that would violate such Moral Rights in the absence of such consent. Executive agrees to confirm any such waivers
and consents from time to time as requested by the Company.

 

    	 

    	 

    

 

NON-SOLICITATION

"

13.         The
Executive covenants and agrees with the Company that he shall not, during
the term of his employment hereunder and for a period ending one year following the date of the termination of his employment:

 

		(a)	Directly or indirectly solicit,
interfere with or endeavor to direct or entice away from the Company any person, firm or company
who is or has within the preceding year been a customer, client,
affiliated agency or otherwise in the habit of dealing with the Company; or

 

		(b)	Interfere with, entice away or otherwise attempt to induce the termination of employment of any
Executive of the Company.

 

This Section shall survive the termination
of this Agreement.

 

NON-COMPETITION

 

14.
        The Executive covenants and agrees with the Company that he will not (without the prior written consent of the Company which
consent will not be unreasonably withheld) directly or through another person or another entity during the term of his
employment hereunder and for a period of one (1) year
following the date of the termination of his employment, carry
on or be engaged in any business within North America which is competitive with the Business as defined in the Asset Purchase
Agreement between ReachFactor, Inc., the Company, Executive
and Arun Srinivasan (the "APA") (a "Competitive Business") provided, however that the non-compete
shall terminate in the event of a termination of employment by Executive for Good Reason or a termination by the Company
other than for Cause or disability and provided, further that under no circumstances shall Executive disclose Company
confidential information.

 

    	 

    	 

    

 

 

This Section
shall survive the termination of this Agreement.

 

INJUNCTIVE
RELIEF

 

15.
        The Executive acknowledges and agrees that the agreements and covenants in sections 12 to 14 are essential to protect the business
and goodwill of the Company and that a breach by the Executive of the covenants in sections 12 to 14 hereof could result in irreparable
loss to the Company which could not be adequately compensated for in damages and that the Company may have no adequate remedy at
law if the Executive breaches such provisions. Consequently, if
the Executive breaches any of such provisions (and such breach remains uncured after written notice and opportunity to cure for
a period of ten days), the Company shall have, in addition to and not in lieu of, any other rights and remedies available to it
under any law or in equity, the right to seek injunctive relief to restrain any breach or threatened breach thereof and to have
such provisions specifically enforced by any court of competent jurisdiction

 

DISPUTE RESOLUTION
PROCEDURE

 

	16.	(a)	The
parties shall be free to bring all differences of interpretation and disputes arising under or related to this Agreement to the
attention of the other party at any time without prejudicing their harmonious relationship
and operations hereunder and the offices and facilities of either party shall be available
at all times for the prompt and effective adjustment of any and all such differences,
either by mail, telephone, or personal meeting, under friendly and courteous circumstances.
Notwithstanding the foregoing, any controversy, claim,
or breach arising out of or relating to this Agreement
which the parties are unable to resolve to their mutual satisfaction shall be resolved in
accordance with subparagraph b below.

 

		(b)	As
                                         a condition precedent to invoking any other dispute resolution procedure
                                         including litigation, the parties shall attempt in good
                                         faith first to mediate such dispute and use their
                                         best efforts to reach agreement on the matters in dispute.
                                         Within five (5) business days of the request of either party, the requesting
                                         party shall attempt to employ the services of a third person mutually
                                         acceptable to both parties to conduct such mediation within ten (10) business
                                         days of the mediator's appointment. Unless otherwise agreed upon by
                                         the parties hereto, the parties shall share equally the cost of the mediator's
                                         fees and expenses equally. If the parties are unable to
                                         agree on such third person,
                                         then the requesting
                                         party may submit the matter to the nearest office of
                                         the American Arbitration Association for mediation, only, in accordance with the
                                         commercial mediation rules then prevailing. If, on completion of such mediation,
                                         the parties are still unable to agree upon and settle the dispute,
                                         then either party may initiate litigation. This Agreement
                                         contains no arbitration clause. Binding arbitration may only be used upon the mutual
                                         agreement of the parties hereto.

 

    	 

    	 

    

 

SEVERABILITY

 

17.
        The parties acknowledge that the provisions of sections 12 to 14 hereof (the "Restrictive
Covenants") are reasonable and valid in geographic and temporal scope and all other respects. If any court of competent
jurisdiction determines that any of the Restrictive Covenants or any part thereof, is or are invalid or unenforceable, the remainder
of the Restrictive Covenants shall not thereby be affected and shall be given full effect, without regard to invalid portions.
If any court of competent jurisdiction determines that any of the Restrictive Covenants or any part thereof is unenforceable because
of the duration or geographic scope of such provision, such court shall have the power to reduce the duration or scope of such
provision, as the case may be and, in its reduced form, such provision shall then be enforceable. The Executive acknowledges that
the Company's business extends throughout the geographical area outlined above and that the geographic scope of the covenants contained
herein is reasonable.

 

INDEMNITY

 

18.
        Except for acts of dishonesty, willfully fraudulent or criminal acts or other willfully wrongful acts or omissions on the part
of Executive, the Company agrees to indemnify and save the Executive harmless from and against any and all damages, liabilities,
claims, costs, including reasonable attorneys' fees, charges
and expenses, including any amount paid to settle any action or satisfy any judgment, incurred
by him in connection with his employment or incurred by him in respect of any civil, criminal or administrative action or proceeding
to which the Executive is made a party by reason of having been an officer or Executive of the Company.

 

WHOLE AGREEMENT

 

19.
        This Agreement constitutes and expresses the whole agreement of the parties hereto
with respect to the employment of the Executive by the Company and with respect to any matters or things herein provided for or
hereinbefore discussed or mentioned with reference to such employment. All promises, representations,
collateral agreements and understandings relative thereto not incorporated herein are hereby superseded by this Agreement.

 

    	 

    	 

    

 

GENERAL

 

20.
      All notices, request,
demands or other communications by the terms hereof required or permitted to be given by one
party to the other shall be given in writing by personal delivery or by facsimile, addressed to the other party as follows:

 

	 	(a) 	to the Company at:	RealBiz Media Group, Inc.
	 	 	 	c/o 2690 Weston Road, Suite 200
	 	 	 	 Weston, FL 33331
	 	 	Attention:	William Kerby
	 	 	Facsimile No:	(954) 888-9082
	 	 	 	 
	 	(b)	to the Executive at:	Alex Aliksanyan
	 	 	 	150 Central Park South,
	 	 	 	Suite 604
	 	 	 	New York NY 10019
	 	 	 	 
	 	 	Facsimile No:___________________

 

or such other addresses as may be given by either
of them to the other in writing from time to time.

 

21.         This
Agreement shall be governed by and interpreted under the laws of the State of Florida without regard to principals of conflicts
of law.

 

22.         All
dollar amounts referred to in this Agreement are expressed in U.S. funds.

 

	23.	(a)	This
Agreement is personal to the Executive and may not be assigned by him.

 

		(b)	Upon notice to the Executive,
this Agreement may be assigned to an affiliate of the Company, provided that notwithstanding such assignment,
the Company continues to guarantee the performance by such assignee of its obligations hereunder.
 This Agreement shall not otherwise be assigned by Company and such restriction shall include any assignment by operation
of law.

 

		(c)	Except as aforesaid, this
Agreement shall inure to the benefit of and be binding  upon  the  parties  hereto  and  their  respective
 successors  and assigns,  including,   in
the  case  of  the  Executive,  his  heirs,  executors, administrators and legal personnel
representatives.

 

24.
        Time shall be of the essence of this Agreement and of every part hereof.

 

25.        The parties acknowledge
and agree that, except to the extent the context clearly requires otherwise, the
representations, warranties and covenants set forth herein shall survive the termination or expiration of this Agreement.

 

    	 

    	 

    

 

26.
         The parties acknowledge that each of them has read and understood this Agreement, and that
each of them has been given the opportunity to obtain independent legal advice in connection with this Agreement and its terms.

 

IN
WITNESS WHEREOF the parties hereto have executed this Agreement as of the date first above written.

 

	 	 	RealBiz Media Group, Inc.
	 	 	 	 
	 	 	By: 	/s/ William Kerby
	 	 	 	William Kerby
	 	 	 	Chairman and CEO
	 /s/ Adam Friedman	 	 	 
	WITNESS	 	 	/s/ Alex Aliksanyan  
	 	 	 	Alex Aliksanyan
	 	 	 	Executive

 

    	 

    	 

    

 

Exhibit A

 

		Executive.	Alex Aliksanyan

 

		Section 1.	Position

 

The Position is defined as Chief Information Officer/Chief
Operating Officer with the responsibilities as listed on Exhibit B.

 

		Section 5.	Remuneration

 

(a) Terms and conditions will
include a base salary of $120,000 per year and $80,000 in Company shares that is 800,000 shares at 10 cents. The total annual compensation
will be $200,000. The above 800,000 Company shares will be considered earned and will be released on a quarterly basis as 200,000
Company shares at 10 cents to be issued on May 31, 2015, August 31, 2015, November 30, 2015 and February 28, 2016.

 

(b) Additionally,
the Executive will receive healthcare for himself and his dependent family members with 100% of the premiums paid by the Company,
and be eligible for bonus programs commensurate with other senior executives of Realbiz,
which are to be determined and implemented within the first year of employment (from the Effective
Date herein).

 

		Section 6.	Stock

 

		1.	Upon the signing of this Employment Agreement, the Company
will issue 1,000,000 Common Shares of Realbiz to the Executive. These shares will be released subject to the terms as set forth
below.

 

		i)	Release of 300,000 shares can be accomplished by the executive remaining with the company for 1 year and provided that the
executive has not served notice to “claw back” the sale of Stingy Travel to Realbiz.

 

		ii)	Release of 350,000 shares will be subject to certain Triggering Events as a result of the Executives role as COO. For the purposes
of this Section, a Triggering Event shall include, but not be limited to:

 

(a) The Company achieves EBITDA
profitability within the first 150 days, or

 

(b) During any quarter
the Company achieves $250,000 in gross monthly profit,

 

(c) The Company onboard 4,000 new
agents in any 90 day period and/or reaches 10,000 agents that are paying to utilize company products including: Nestbuilder Agent
platform, the Nestbuilder App, the Ezflix App, the Home & Away Club and/or the ReachFactor social media platform.

 

(d) In the event none of the above
triggering events are met at the end of the first 12 months, the Company will still agree to release a percentage of the 350,000
shares to Executive based upon # Of new paying real estate agents (clause c) /10,000 x 350,000.

 

    	 

    	 

    

  

[ EXAMPLE: For clarity if
7000 new agents are on boarded in the first 12 months then the Executive would receive 7000/10000 X 350,000 shares = 245,000
shares]

 

(e) The Company materially changes
any of the terms of this employment agreement, such as base salary or scope of responsibilities, etc. without the consent of the
Executive

 

(f) The Company terminates
Executive without cause,

 

(g) For other performance or employment
metrics as mutually determined by the Parties, or

 

(h)
Upon an "unwind” event as outlined in the APA.
Unreleased shares will only be returned to the Company if the Executive voluntarily terminates his Employment Agreement without
Good Reason any time prior to one (1) year from the date of this Agreement or if the Executive is terminated due to fraud or the
Executive is criminal charged..

 

		iii)	Release of 350,000 shares will be subject to certain Triggering Events as a result of the Executives
role as CIO. For the purposes of this Section, a Triggering
Event shall include, but not be limited to:

 

		(a)	Create a technology evolution plan to move all current applications and technology platforms to a set of applications and technology
platforms that will support the anticipated transaction volumes over the next twelve months.

 

		(b)	Work with other senior executives to identify and prioritize a list of application enhancements and new applications to be
implemented within the next twelve months that will increase the number of discrete users of products and services and increase
the amount of revenue from existing users, and

 

		(c)	Build an information technology team capable of implementing the above and maintaining applications and technology platforms,
all within a reasonable budget which includes minimal outside consultant expense.

 

Shares will be released
to the Executive within 5 business days of achieving any triggering event.

 

    	 

    	 

    

  

		Section 7.	Disposition of Stock

 

If Executive desires to sell
in excess of One Hundred Thousand (100,000) shares of the common stock of the Company in a single transaction or in one or more
related transactions at any time when the daily trading volume of the Company's stock is less than 20,000 shares, then prior to
selling any such shares, Executive shall submit a written offer to the Company for the Company to acquire such shares at the market
price of such shares on the date of such offer. The Company shall have five (5) calendar days in
which to notify the Executive of its intent to exercise such right of first refusal and the closing of such sale shall occur within
ten (10) calendar days of such notification. If the Company does not exercise such right of first refusal then the ·
Executive shall be free to sell such shares in the open market in accordance with all applicable
laws.

 

		Section 8.	Vacation

 

The Executive
will be eligible for 4 weeks of vacation.

 

		Section 9.	Term

 

The initial
term of this Agreement (the "Initial Term"), and the employment hereunder, shall be for a period of thirty six months
commencing on February 20th, 2015. and expiring on February 19, 2018 unless sooner terminated. The contract may be
extended by mutual consent of the parties.

 

    	 

    	 

    

 

Exhibit 8

 

Alex
Aliksanyan- Chief Information Officer/Chief Operating Officer

 

The CIO/COO together with the CEO oversees all aspects
of Operations, Product Development, and Corporate infrastructure while driving overall cost efficiency for Realbiz Media Group,
Inc.

 

The Executive will:

 

* Have the authority to hire and fire employees, in
accordance with consent of the Chief Executive Officer. Any potential employee that is a relative or affiliate of the COO must
be approved by the Board of Directors of the Company. Any potential
employee that is anticipated to receive total compensation in excess of $100,000 must also be approved by the Board of Directors.

* Be sent the
Company's financials no later than the 30th of the following month for financials for the prior month

* Have approval authority
over the Company's purchases in accordance with terms of
a budget approved by the Board of Directors and any purchases in excess of $25,000 shall require approval of the Board of Directors.

* Have full access to all of the Company's
books and records at any time

 

The Executive's responsibilities
may include:

 

		•	Responsible for day to day operations of Company

 

		•	Development and implementation of a comprehensive business plan and budget to support the overall company's financial performance
and assisting the CEO/CFO and CRO in obtaining those goals

 

		•	Integration of the company’s technology platforms, lists and services to the company to maximize enterprise value

 

		•	Responsible for overseeing the product(s) road map in the Real Estate and Media operations including the company App, Video
and web properties

    	 

    	 

    

15

 

		•	Work with the CEO, CRO and CTO to assist in setting of the direction of the corporation

 

		•	Assist in the creation and development of new products and bring them to market

 

		•	Plan and implement the expansion of product categories, along with the CRO and CTO develop new
initiatives for Enterprise and Broker accounts to drive and maximize revenue growth

 

		•	Assist the CEO to Integrate high margin travel opportunities including Stingy Travel with Next 1 travel assets e.g. Maupintour/NextTrip
to become a preferred supplier with both Mark Travel and I.C.E.

 

		•	Along with the CRO and CTO, develop/implement a long term strategy to optimize and monetize the company's relationship with
consumers and real estate agents.

 

		•	Implementation of reporting systems

 

		•	Working with the companies "C" level officers, set up supporting structure and staff
roles, responsibilities, goals and objectives to ensure the efficiencies of the companies infrastructure .

 

		•	Review of existing staff and assessing capabilities including position changes, hiring and firing as required.

 

		•	Working with the CFO to review expenditures and ensure efficiencies and cost control system/best practices are implemented
and

practiced

 

		•	Assist the CRO to promote RealBiz Media products within the Real Estate community

 

And such other duties/responsibilities as may be
assigned by the CEO from time to timeSIXTH AMENDMENT TO CREDIT AGREEMENT AND SECOND AMENDMENT TO SECURITY AGREEMENT

THIS SIXTH AMENDMENT TO CREDIT AGREEMENT AND SECOND AMENDMENT TO SECURITY AGREEMENT, dated as of February 20, 2015 (this “Agreement”), is entered into among VOLT INFORMATION SCIENCES, INC., a New York corporation (the “Borrower”), the Lenders party hereto and BANK OF AMERICA, N.A., as Administrative Agent (the “Administrative Agent”), Swing Line Lender and L/C Issuer.

W I T N E S S E T H

WHEREAS, the Borrower, certain of its Subsidiaries, the Lenders, the Swing Line Lender, the L/C Issuer and the Administrative Agent entered into that certain Credit Agreement, dated as of February 28, 2008 (as amended and modified from time to time, the “Credit Agreement”); and

WHEREAS, the Borrower and the Administrative Agent entered into that certain Security Agreement, dated as of May 10, 2010 (as amended and modified from time to time, the “Security Agreement”); and

WHEREAS, the parties hereto have agreed to amend the Credit Agreement and Security Agreement as set forth herein;

NOW, THEREFORE, IN CONSIDERATION of the premises and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

1.           Definitions.  All capitalized terms used but not otherwise defined in this Agreement shall have the meanings assigned in the Credit Agreement.

2.           Reaffirmation of Existing Debt.  The Borrower acknowledges and confirms as of the date hereof (a) that the Borrower’s obligation to repay the outstanding principal amount of the Loans and reimburse the L/C Issuer for any drawing on a Letter of Credit is unconditional and not subject to any offsets, defenses or counterclaims, (b) that the Administrative Agent and the Lenders have performed fully all of their respective obligations under the Credit Agreement and the other Loan Documents, and (c) by entering into this Agreement, the Lenders do not waive or release (except as specifically provided in this Agreement) any term or condition of the Credit Agreement or any of the other Loan Documents or any of their rights or remedies under such Loan Documents or applicable law or any of the obligations of the Borrower thereunder.

3.           Amendments to Credit Agreement.

(a)         The following definitions in Section 1.01 of the Credit Agreement are hereby amended to read as follows:

“Cash Collateralize” means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of the L/C Issuer and the Lenders, as collateral for the Obligations, cash (which includes time deposits, certificates of deposit or the equivalent) or deposit account balances pursuant to the Security Agreement. “Cash Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral.

“CDOR Rate” means, the rate per annum, equal to the average of the annual yield rates applicable to Canadian Dollar banker’s acceptances at or about 10:00 a.m. (Toronto, Ontario time) on the Rate Determination Date of such Interest Period or if such day is not a Business Day, then on the immediately preceding Business Day as reported by Bloomberg (or such other commercially available source displaying Canadian interbank bid rates for Canadian Dollar bankers’ acceptances as may be designated by the Administrative Agent from time to time) for a term equivalent to such Interest Period (or if such Interest Period is not equal to a number of months, for a term equivalent to the number of months closest to such Interest Period).

 

  

  

  

            

“Eurocurrency Base Rate” means,

(a)           (i) for any Interest Period with respect to a Eurocurrency Rate Loan denominated in Dollars, the rate per annum equal to the London Interbank Offered Rate (“LIBOR”) or a comparable or successor rate, which rate is approved by the Administrative Agent, as published by Bloomberg (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) (in such case, the “LIBOR Rate”) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period; and

(ii)           for any Interest Period with respect to a Eurocurrency Rate Loan denominated in Canadian Dollars, the CDOR Rate per annum; and

(b)            for any interest calculation with respect to a Base Rate Loan on any date, the rate per annum equal to the LIBOR Rate, at approximately 11:00 a.m., London time determined two Business Days prior to such date for Dollar deposits with a term of one month commencing that day;

provided that (i) to the extent a comparable or successor rate is approved by the Administrative Agent in connection herewith, the approved rate shall be applied in a manner consistent with market practice; provided, further that to the extent such market practice is not administratively feasible for the Administrative Agent, such approved rate shall be applied as otherwise reasonably determined by the Administrative Agent and (ii) if the Eurocurrency Base Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement.

“Maturity Date” means March 31, 2016.

(b)           The following definitions are hereby added to Section 1.01 of the Credit Agreement to read as follows:

“Designated Jurisdiction” means any country or territory to the extent that such country or territory itself is the subject of any Sanction.

“OFAC” means the Office of Foreign Assets Control of the United States Department of the Treasury.

“Sanction(s)” means any sanction administered or enforced by the United States Government, including OFAC, the United Nations Security Council, the European Union, Her Majesty’s Treasury or other relevant sanctions authority.

(c)           A new Section 6.22 is hereby added to the Credit Agreement to read as follows:

6.22         OFAC.

 

  

  

  

            

None of the Loan Parties, nor any of their Subsidiaries, nor, to the knowledge of the Loan Parties and their Subsidiaries, any director, officer, employee, agent, affiliate or representative thereof, is an individual or entity that is, or is owned or controlled by any individual or entity that is (i) currently the subject or target of any Sanctions or (ii) located, organized or resident in a Designated Jurisdiction.

(d)           Section 8.01 of the Credit Agreement is hereby amended to read as follows:

8.01         Sanctions.

Directly or indirectly, use any Credit Extension or the proceeds of any Credit Extension, or lend, contribute or otherwise make available such Credit Extension or the proceeds of any Credit Extension to any Person, to fund any activities of or business with any Person, or in any Designated Jurisdiction, that, at the time of such funding, is the subject of Sanctions, or in any other manner that will result in a violation by any Person (including any Person participating in the transaction, whether as Lender, Arranger, Administrative Agent, L/C Issuer, Swing Line Lender, or otherwise) of Sanctions.

(e)           Section 8.06(c) of the Credit Agreement is hereby amended to read as follows:

 

(c)           So long as no Default exists immediately prior and after giving effect thereto, the Borrower may make other Restricted Payments.

4.           Amendments to Security Agreement.

(a)           The following definition in Section 1 of the Security Agreement is hereby amended to read as follows:

“Collateral Account” means, collectively and individually, (a) that certain deposit account number 1499710376 maintained by the Pledgor at Bank of America, together with any substitutions therefor and replacements thereof, (b) the Euro time deposit(s), if any, identified on Schedule 1 (as such schedule may be updated from time to time by the Borrower) by currency, principal balance and security/trade number and any additions, substitutions, renewals, replacements or rollovers thereof regardless of the security/trade number(s) or other identifiers from time to time in effect and any general intangibles and choses in action arising therefrom or related thereto, (c) Pounds Sterling time deposit(s), if any,  identified on Schedule 1 (as such schedule may be updated from time to time by the Borrower) by currency, principal balance and security/trade number and any additions, substitutions, renewals, replacements or rollovers thereof regardless of the security/trade number(s) or other identifiers from time to time in effect and any general intangibles and choses in action arising therefrom or related thereto and (d) Canadian Dollar time deposit(s), if any,  identified on Schedule 1 (as such schedule may be updated from time to time by the Borrower) by currency, principal balance and security/trade number and any additions, substitutions, renewals, replacements or rollovers thereof regardless of the security/trade number(s) or other identifiers from time to time in effect and any general intangibles and choses in action arising therefrom or related thereto.

 

(b)           A new Schedule 1 is hereby added to the Security Agreement in the form of Schedule 1 attached hereto.

 

5.           Conditions Precedent. This Agreement shall be effective upon receipt by the Administrative Agent of (a) copies of this Agreement duly executed by the Borrower, the Lenders and the Administrative Agent, (b) executed control agreement(s) regarding the Euro time deposits, Pounds Sterling time deposits and Canadian Dollar time deposits in form and substance satisfactory to the Administrative Agent, (c) receipt by the Administrative Agent of satisfactory authorizing resolutions of the Borrower and an opinion of counsel for the Borrower; (d) receipt by the Administrative Agent, for the account of each Lender, an amendment fee equal to 0.10% of such Lender’s Revolving Commitment and (e) receipt by the Administrative Agent of all fees and expenses owed by the Borrower to the Administrative Agent, including without limitation, the fees and expenses of Moore & Van Allen PLLC

 

  

  

  

           

6.           Effect.  Except as expressly modified and amended in this Agreement, all of the terms, provisions and conditions of the Credit Agreement and the Security Agreement are and shall remain in full force and effect, and the obligations of the Borrower hereunder and under the other Loan Documents are hereby ratified and confirmed and shall remain in full force and effect.  Any and all other documents heretofore, now or hereafter executed and delivered pursuant to the terms of the Credit Agreement are hereby amended so that any reference to the Credit Agreement or the Security Agreement shall mean a reference to the Credit Agreement or Security Agreement, as applicable, as amended hereby.

7.            Representations and Warranties.  The Borrower represents and warrants to the Lenders that (i) the representations and warranties set forth in Article VI of the Credit Agreement are true and correct in all material respects on and as of the date of this Agreement, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, (ii) no Default exists and (iii) as of the date hereof, the Borrower does not have any counterclaims, offsets, credits or defenses to the Loan Documents and the performance of its obligations thereunder, or if the Borrower has any such claims, counterclaims, offsets, credits or defenses to the Loan Documents or any transaction related to the Loan Documents, the same are hereby waived, relinquished and released in consideration of the Lenders’ execution and delivery of this Agreement.

8.           FATCA Certification.  The Borrower hereby certifies to the Administrative Agent and the Lenders that the obligations of the Borrower set forth in the Credit Agreement, as modified by this Agreement, qualify as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).  From and after the date of this Amendment, the Borrower shall indemnify the Administrative Agent, and hold it harmless from, any and all losses, claims, damages, liabilities and related interest, penalties and expenses, including, without limitation, Taxes and the fees, charges and disbursements of any counsel for any of the foregoing, arising in connection with the Administrative Agent’s treating, for purposes of determining withholding Taxes imposed under FATCA, the Credit Agreement as qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).  The Borrower’s obligations hereunder shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all of the Obligations.

9.           Successors and Assigns.   This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

10.         Authorization; Enforceability.  The Borrower hereby represents and warrants as follows: (a) it has taken all necessary corporate or other organizational action to authorize the execution, delivery and performance of this Agreement; (b) this Agreement has been duly executed and delivered by such Person.  This Agreement constitutes a legal, valid and binding obligation, enforceable against such Person in accordance with their terms, except as such enforceability may be limited by (i) applicable Debtor Relief Laws and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity); and (c) no consent, approval, authorization or order of, or filing, registration or qualification with, any court or Governmental Authority or third party is required in connection with the execution, delivery or performance by the Borrower of this Agreement other than (i) those that have already been obtained and are in full force and effect and (ii) those the failure of which to be obtained or made would not reasonably be expected to have a Material Adverse Effect.

 

  

  

  

          

11.          Incorporation of Agreement.  Except as specifically modified herein, the terms of the Loan Documents shall remain in full force and effect.  The execution, delivery and effectiveness of this Agreement shall not operate as a waiver of any right, power or remedy of the Administrative Agent under the Loan Documents, or constitute a waiver or amendment of any provision of the Loan Documents, except as expressly set forth herein.  The breach of any provision or representation under this Agreement shall constitute an immediate Event of Default under the Credit Agreement, and this Agreement shall constitute a Loan Document from and after the date hereof.

12.          Headings.  The headings of the sections hereof are provided for convenience only and shall not in any way affect the meaning or construction of any provision of this Agreement.

13.          Severability.  If any provision of any of this Agreement is determined to be illegal, invalid or unenforceable, such provision shall be fully severable and the remaining provisions shall remain in full force and effect and shall be construed without giving effect to the illegal, invalid or unenforceable provisions.

14.          Counterparts.  This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument.  Delivery of executed counterparts of this Agreement by telecopy or pdf shall be effective as an original.

15.          GOVERNING LAW.  THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

 

 

 

 

 

 

 

 

 

  

  

  

               

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date first above written.

                      

  

	BORROWER:	
VOLT INFORMATION SCIENCES, INC.,

a New York corporation

	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	/s/ James Whitney	 
	 	Name: 	James Whitney	 
	 	Title: 	Senior Vice President and Chief Financial Officer
	 	 	 	 	 

              

	ADMINISTRATIVE AGENT:	
BANK OF AMERICA, N.A.,

as Administrative Agent

	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	/s/ Christine Trotter	 
	 	Name: 	Christine Trotter	 
	 	Title: 	Assistant Vice President	 
	 	 	 	 	 

                

	LENDERS:	
BANK OF AMERICA, N.A.,

as a Lender, L/C Issuer and Swing Line Lender

	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	/s/ Jana L. Baker	 
	 	Name: 	Jana L. Baker	 
	 	Title: 	Senior Vice President	 
	 	 	 	 	 

                

	 	JPMORGAN CHASE BANK, N.A.	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	/s/ Philip Mousin	 
	 	Name: 	Philip Mousin	 
	 	Title: 	Credit Executive 	 
	 	 	 	 	 

                 

	 	HSBC BANK USA, NATIONAL ASSOCIATION	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	/s/ Aidan R. Spoto	 
	 	Name: 	Aidan R. Spoto	 
	 	Title: 	Vice President	 
	 	 	 	 	 

                  

 

 

 

VOLT INFORMATION SCIENCES, INC.

SIXTH AMENDMENT TO CREDIT AGREEMENT AND

SECOND AMENDMENT TO SECURITY AGREEMENT

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