Document:

ex-10.1

 

 

 
 

 *********
 *********
 *********
 *********
 

 October 2, 2017
 

 Dear ****,
 

 Further to our discussions, we are pleased to present this ***** Binding Term Sheet for the acquisition of *****, subject to the conditions precedent listed below.
 

 	 	
	 BINDING TERM SHEET

	 EFFECTIVE DATE
	 October 2, 2017

	 BUYER
	 Spindle, Inc., a Nevada corporation, 1201 S. Alma School Road, Suite 12500, Mesa, AZ 85210 (“Spindle”)

	 SELLER
	 *****, a ***** corporation, *****, CA *****

	 CONTEMPLATED TRANSACTION
	 Spindle will acquire 100% of the ownership in *****

	 CONSIDERATION
	 1.  Spindle will pay $***** for *****
 ·  $*** in cash at closing
 ·  $**** in Spindle shares
 2.
 Spindle will deliver $*****  at closing
 ·   Proceeds will be placed in escrow with Bank to be used as a reserve for processing
 3.   Spindle will also raise a minimum of $***** in working capital to be used for day-to-day operations, growth and acquisitions

	 TIMING
	 Execution of Definitive Documents on or before December 31, 2017

	 BINDING AND EXCLUSIVE
	 ***** agrees to exclusivity to Spindle for the acquisition of ***** until December 31, 2017.  Unless mutually agreed by both parties, this Term Sheet will expire on December 31, 2017.
 This document is meant to have the character of a binding term sheet which will be formalized in Definitive Agreements on or around December 31, 2017.

 

 

 Private and Confidential
 

 
 

 	 	
	 EMPLOYMENT OF ***** PERSONNEL
	 ***** will become CEO and a member of the Board of Directors of Spindle, Inc.
 ***** will become CTO
 In conjunction with the closing, Spindle will execute 2-year employment agreements with ***** and *****.
 Spindle will enter into key-man insurance for Mr. ***** and Mr. *****.

	 DEFINITIVE AGREEMENTS
	 1)  Asset Purchase Agreement
 2)  Employment Agreement with Mr. *****
 3)  Employment Agreement with Mr. *****
 4)  Debt Funding Agreement
 5)  Equity Funding Agreement

	 RELEASE OF INFORMATION
	 Within 4 business days of the execution of this Term Sheet, and with the consent of *****, not to be unreasonably withheld, Spindle, Inc. will issue a press release, and 8-K filing with the SEC.  The release and 8-K will not contain the names “*****” or “*****” in any form.
 Upon execution of a non-disclosure agreement (“NDA”), as approved by *****, Spindle may provide the names “*****” and “*****” for the purposes of raising debt and/or equity as part of the contemplated transaction.

	 COOPERATION FROM FUTURE CEO
	 ***** will be available, on a limited basis, as to not interfere with normal business operations, to speak with potential investors, debt or equity, as part of the contemplated transaction.

	 CONDITIONS PRECEDENT
	 1)  Approval of Definitive Agreements by Spindle, Inc. Board of Directors
 2)  Spindle, Inc. ability to raise ***** debt capital by December 31, 2017 for processing reserves for  bank to be identified 
 3)  Spindle, Inc. ability to raise ***** equity capital by December 31, 2017 for 
 a.  Acquisition of ***** from *****.
 b.  Ongoing working capital for Spindle, Inc.

	 ESCROW
	 Spindle, Inc. will escrow a share certificate for 100,000 unregistered shares with Manhattan Transfer (“Transfer Agent”) in the name of *****.  In the event that the Definitive Agreements are not concluded by December 31, 2017 Transfer Agent will send shares to *****.

	 JURISDICTION
	 [TBD]

 

 

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 Private and Confidential
 

 

 
 

 	 	
	 REPRESENTATIONS & WARRANTIES
	 Customary for transactions of this type, including, but not limited to, the following:  complete and unencumbered ownership of technology, corporate status and authority; valid, binding and enforceable agreements; not violating laws or existing agreements; no governmental, regulatory or other approvals required; good and defensible record title to all assets, payment of taxes; no material litigation; compliance with environmental, regulatory and other laws and regulations; and no existing defaults or non-permitted liens.

	 COVENANTS
	 Customary for this type of transaction including, but not limited to, ***** agrees 
 1.  to provide access to all records, assets and facilities,
 2.  to operate business in the standard, normal course,
 3.  to not amend any corporate documents,
 4.  to comply with all laws and regulations
 5.  to maintain insurance,
 6.  to keep the agreement confidential,
 7.  to use all reasonable efforts to fulfill conditions for closing, including meetings with potential investors, as above
 Customary for this type of transaction including, but not limited to, Spindle agrees 
 1.  to remain current on all public, SEC filings,
 2.  to comply with all laws and regulations,
 3.  to maintain insurance, including D&O insurance, 
 4.  keep the agreement confidential,
 5.  to use all reasonable efforts to fulfill conditions for closing

	 NEGATIVE COVENANTS
	 ***** agrees not to board any merchants or engage in transactions that are excessively risky, that it would not normally engage in if not for the contemplated transaction with Spindle.

	 NO-SHOP/ CONFIDENTIALITY
	 ***** agrees to work in good faith expeditiously towards a closing. ***** and ***** agree that they will not, for a period of 90 days from the date these terms are accepted, take any action to solicit, initiate, encourage or assist the submission of any proposal, negotiation or offer from any person or entity other than Spindle relating to the sale or issuance, of any of the capital stock or assets of ***** and shall notify the Spindle promptly of any inquiries by any third parties in regards to the foregoing.

 

 

 5 of 4 
 Private and Confidential
 

 

 
 

 	 	
	 SPINDLE, INC.
 

 

 

	 *****

	 By:  ________________________
	 By:  _________________________

	 Jack Scott, Interim Chief Executive Officer
	 *****, President

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 Private and ConfidentialEX-4.1

 Exhibit 4.1 
 

 
 THIS CERTIFIES THAT is the owner of CUSIP DATED COUNTERSIGNED AND REGISTERED: COMPUTERSHARE TRUST COMPANY, N.A.
TRANSFER AGENT AND REGISTRAR, FULLY-PAID AND NON-ASSESSABLE SHARES OF COMMON STOCK OF Spero Therapeutics, Inc. (hereinafter called the “Company”), transferable on the books of the Company in person or by duly authorized attorney, upon
surrender of this Certificate properly endorsed. This Certificate and the shares represented hereby, are issued and shall be held subject to all of the provisions of the Certificate of Incorporation, as amended, and the By-Laws, as amended, of the
Company (copies of which are on file with the Company and with the Transfer Agent), to all of which each holder, by acceptance hereof, assents. This Certificate is not valid unless countersigned and registered by the Transfer Agent and Registrar.
Witness the facsimile seal of the Company and the facsimile signatures of its duly authorized officers. COMMON STOCK PAR VALUE $0.001 COMMON STOCK SEE REVERSE FOR CERTAIN DEFINITIONS Certificate Number Shares . SPERO THERAPEUTICS, INC. INCORPORATED
UNDER THE LAWS OF THE STATE OF DELAWARE Chief Executive Officer Chief Financial Officer Vice President, Finance and Operations By AUTHORIZED SIGNATURE June 30, 2017 DEL AWAR E IN C O RPORAT E SPERO THERAPEUTICS, INC.
ZQ|CERT#|COY|CLS|RGSTRY|ACCT#|TRANSTYPE|RUN#|TRANS# 84833T 10 3 DD-MMM-YYYY * * 000000* * * * * * * * * * * * * * * * * * * * * 000000* * * * * * * * * * * * * * * * * * * * * 000000* * * * * * * * * * * * * * * * * * * * * 000000* * * * * * * * * *
* * * * * * * * * * * 000000* * * * * * * * * * * * * * ** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
**** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David
Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
**** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David
Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
Sample****Mr.Sample**000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000** 
Shares***
*000000**Shares****000000**Shares****000000**Shares*** *000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****

000000**Shares****000000**Shares**** 000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 
000000**Shares****000000**Shares****0 00000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 
000000**Shares****000000**Shares****00 0000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 
000000**Shares****000000**Shares****000 000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 
000000**Shares****000000**Shares****0000 00**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 
000000**Shares****000000**Shares****00000 0**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 
000000**Shares****000000**Shares****000000 **Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 
000000**Shares****000000**Shares****000000* *Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 
000000**Shares****000000**Shares****000000** Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 
000000**Shares****000000**Shares****000000**S ***ZERO HUNDRED THOUSAND ZERO HUNDRED AND ZERO*** MR. SAMPLE & MRS. SAMPLE & MR. SAMPLE & MRS. SAMPLE ZQ00000000
Certificate Numbers 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 Total Transaction Num/No. 123456 Denom. 123456 Total 1234567 MR A SAMPLE DESIGNATION (IF ANY) ADD
1 ADD 2 ADD 3 ADD 4 PO BOX 43004, Providence, RI 02940-3004 CUSIP XXXXXX XX X Holder ID XXXXXXXXXX Insurance Value 1,000,000.00 Number of Shares 123456 DTC 12345678 123456789012345 THIS CERTIFICATE IS TRANSFERABLE IN CITIES DESIGNATED BY THE
TRANSFER AGENT, AVAILABLE ONLINE AT www.computershare.com 

 

 
 The IRS requires that the named transfer agent (“we”) report the cost basis of certain shares or units acquired after January
1, 2011. If your shares or units are covered by the legislation, and you requested to sell or transfer the shares or units using a specific cost basis calculation method, then we have processed as you requested. If you did not specify a cost basis
calculation method, then we have defaulted to the first in, first out (FIFO) method. Please consult your tax advisor if you need additional information about cost basis. If you do not keep in contact with the issuer or do not have any activity in
your account for the time period specified by state law, your property may become subject to state unclaimed property laws and transferred to the appropriate state. For value received, _hereby sell, assign and transfer unto Shares Attorney Dated: 20
Signature: Signature: Notice: The signature to this assignment must correspond with the name as written upon the face of the certificate, in every particular, without alteration or enlargement, or any change whatever. PLEASE INSERT SOCIAL SECURITY
OR OTHER IDENTIFYING NUMBER OF ASSIGNEE (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF ASSIGNEE) of the common stock represented by the within Certificate, and do hereby irrevocably constitute and appoint to transfer the
said stock on the books of the within-named Incorporation with full power of substitution in the premises. . SPERO THERAPEUTICS, INC. THE COMPANY WILL FURNISH WITHOUT CHARGE TO EACH SHAREHOLDER WHO SO REQUESTS, A SUMMARY OF THE POWERS, DESIGNATIONS,
PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF EACH CLASS OF STOCK OF THE COMPANY AND THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES AND RIGHTS, AND THE VARIATIONS IN RIGHTS, PREFERENCES AND
LIMITATIONS DETERMINED FOR EACH SERIES, WHICH ARE FIXED BY THE CERTIFICATE OF INCORPORATION OF THE COMPANY, AS AMENDED, AND THE RESOLUTIONS OF THE BOARD OF DIRECTORS OF THE COMPANY, AND THE AUTHORITY OF THE BOARD OF DIRECTORS TO DETERMINE VARIATIONS
FOR FUTURE SERIES. SUCH REQUEST MAY BE MADE TO THE OFFICE OF THE SECRETARY OF THE COMPANY OR TO THE TRANSFER AGENT. THE BOARD OF DIRECTORS MAY REQUIRE THE OWNER OF A LOST OR DESTROYED STOCK CERTIFICATE, OR HIS LEGAL REPRESENTATIVES, TO GIVE THE
COMPANY A BOND TO INDEMNIFY IT AND ITS TRANSFER AGENTS AND REGISTRARS AGAINST ANY CLAIM THAT MAY BE MADE AGAINST THEM ON ACCOUNT OF THE ALLEGED LOSS OR DESTRUCTION OF ANY SUCH CERTIFICATE. Signature(s) Guaranteed: Medallion Guarantee Stamp THE
SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (Banks, Stockbrokers, Savings and Loan Associations and Credit Unions) WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15. The
following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common UNIF GIFT MIN ACT -
..Custodian (Cust) (Minor) TEN ENT - as tenants by the entireties under Uniform Gifts to Minors Act. (State) JT TEN - as joint tenants with right of survivorship UNIF TRF MIN ACT - Custodian (until age...) and not as tenants in common (Cust) ..under
Uniform Transfers to Minors Act (Minor) (State) Additional abbreviations may also be used though not in the above list.

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