Document:

Exhibit 10.1 Ninth Amendment Investment Agreement

Exhibit 10.1

NINTH AMENDMENT TO 

INVESTMENT AGREEMENT

This Ninth Amendment to Investment Agreement (“Amendment”) is made as of the 24th day of October, 2013 by and between Desert Hawk Gold Corp., a Nevada corporation (the “Company”), and DMRJ Group I LLC, a Delaware limited liability company (the “Investor”).

BACKGROUND

A.

The Company and the Investor are parties to a certain Investment Agreement, dated as of July 14, 2010, as amended by the Amendment and Waiver dated as of November 8, 2010, the Second Amendment (the “Second Amendment”), dated as of February 25, 2011, the Third Amendment (the “Third Amendment”), dated as of March 11, 2011, and the Fourth Amendment (the “Fourth Amendment”), dated as of May 3, 2011, the Fifth Amendment (the “Fifth Amendment”), dated as of December 15, 2012, the Sixth Amendment (the “Sixth Amendment”), dated as of January 29, 2012, the Seventh Amendment (the “Seventh Amendment”), dated as of April 30, 2013 and the Eighth Amendment (the “Eighth Amendment”), dated as of July 24, 2013 (as further modified or amended from time to time, the “Investment Agreement”) pursuant to which, among other things, Investor has made available to the Company a senior secured term loan credit facility of up to $6,500,000.  All capitalized terms not otherwise defined herein shall have the meaning ascribed thereto in the Investment Agreement.

B.

The Company has made good faith efforts to obtain the Environmental Permits and Mining Permits necessary to engage in and conduct the Kiewit Mining Activities and has informed the Investor of the status of the permit applications on a continuous basis but the Company has been unsuccessful in obtaining such permits and as such the Company has not satisfied the Kiewit Milestones.

C.

The parties now wish to further amend the Investment Agreement to, among other things, extend the maturity date of the loan and permit the Company to receive in the aggregate funds of up to $100,000 pursuant to the Investment Agreement, notwithstanding that it has still not satisfied the conditions for a Kiewit Advance.  

NOW, THEREFORE, with the foregoing Background incorporated by reference herein and made a part hereof, and in consideration of the premises and other good and valuable consideration, the receipt to which is hereby acknowledged, and pursuant to the provisions of Section 9.01 of the Investment Agreement, the parties hereby agree as follows:

1.

Amendments.  

(a)

Upon the terms and conditions contained herein and the Investment Agreement, following the date hereof the Company shall be permitted to request, and upon the delivery of a duly completed Borrowing Notice to the Investor in connection herewith, the Investor shall, it is sole and absolute discretion, make one (1) Term Loan Advance per calendar month for the four (4) successive calendar month commencing in October 2013 in the aggregate principal amount of up to $25,000 per calendar month for an aggregate of up to $100,000, without satisfying the provisos contained in clauses (ii) and (iv) in the first sentence of Section 2.01 (collectively, the “October 2013 Term Loan Advances”).  The October 2013 Term Loan Advances shall not be deemed to be a Kiewit Advance and as such the provisions of Sections 2.02(vi), 2.05(b), 2.09, and 3.02(d) shall not apply to the October 2013 Term Loan Advances.

(b)

The term “Maturity Date” in the Investment Agreement shall be amended to mean “January 31, 2014.” For avoidance of doubt, all amounts due under the Investment Agreement, including the Amortization Amount (as defined in the Fourth Amendment), October Term Loan Advance, January Term Loan Advance, April Term Loan Advance, May Term Loan Advance, July Loan Advance, Additional July Loan Advance, and October 2013 Term Loan Advances together with all interest thereon, are due on the Maturity Date.

(c)

For the sale of clarity, in accordance with the Fifth Amendment and notwithstanding Section 2.03(a) of the Investment Agreement and the Fourth Amendment to the contrary (but subject to Section 2.03(b)), the October 2013 Term Loan Advances shall bear interest at a rate of two percent (2%) per month from the date hereof until such amounts have been paid in full.

(d)

The net proceeds from the October 2013 Term Loan Advances shall be used by the Company for working capital and ordinary course general corporate purposes not inconsistent with or prohibited by any covenant in the Transaction Documents

2.

Representations and Warranties.  The Company represents, warrants and covenants to Investor that:

(a)

All warranties and representations made to the Investor under the Investment Agreement and the Transaction Documents are true and correct as to the date hereof unless they specifically relate to an earlier date in which case they shall be true and correct as of such date, other than as set forth on the disclosure schedules (the “Updated Disclosure Schedules”) attached hereto (the numbers of which shall correspond to the numbers of the disclosure schedules to the Investment Agreement). 

(b)

The Company has the requisite corporate power and authority to enter into and perform this Amendment in accordance with the terms hereof.  The execution, delivery and performance of this Amendment by the Company and the consummation by it of the transactions contemplated hereby have been duly and validly authorized by all necessary corporate action, no further consent or authorization of the Company, its Board of Directors, stockholders or any other third party is required.  When executed and delivered by the Company, this Amendment shall constitute 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, reorganization, moratorium, liquidation, conservatorship, receivership or similar laws relating to, or affecting generally the enforcement of, creditor’s rights and remedies or by other equitable principles of general application.

(c)

The execution by the Company and delivery to the Investor of this Amendment (i) is not and will not be in contravention of any order of any court or other agency of government, any law or any other indenture or agreement to which the Company is a party or the organizational documents of the Company (ii) is not or will not be in conflict with, or result in a breach of, or constitute (with due notice and/or passage of time) a default under any such indenture, agreement or undertaking, and (iii) will not result in the imposition of any lien, charge, encumbrance of any nature on any property of the Company.

(d)

No Default or Event of Default exists or has occurred and is continuing as of the date of this Amendment. 

3.

Effectiveness Conditions.  This Amendment shall be effective (the “Effective Time”) upon completion of the following conditions precedent (all documents to be in form and substance satisfactory to Investor and Investor’s counsel):

(a)

execution and delivery by Company to Investor of this Amendment; 

(b)

delivery by Company to the Investor of a secretary’s certificate, dated as of the Effective Time, as to (i) the resolutions adopted by the Board of Directors approving the transactions contemplated hereby, (ii) the Articles of Incorporation and the Bylaws of the Company, each as in effect as of the Effective Time, and (iii) the authority and incumbency of the officers of the Company executing this Amendment and any other documents required to be executed or delivered in connection therewith;  and

(c)

execution and/or delivery by Company of all agreements, instruments and documents requested by Investor to effectuate and implement the terms hereof and the terms of any document or instrument referenced hereby or to be executed hereunder.

4.

Expenses.  The Company shall pay any and all costs, fees and expenses of Investor (including without limitation, attorneys’ fees) in connection with this Amendment and the transaction contemplated hereby.

5.

No Waiver.  The Investor reserves all of its rights and remedies arising with respect to any and all defaults or events of defaults under the Transaction Documents that may be in existence on the date hereof, regardless of whether such defaults or events of default have been identified, or which may occur in the future.  The Investor has not modified, is not waiving and has not agreed to forbear in the exercise of, any of its present or future rights and remedies.  No action taken or claimed to be taken by the Investor will constitute such a waiver, modification or agreement to forbear.

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6.

Ratification of Investment Documents.  Except as expressly set forth herein, all of the terms and conditions of the Investment Agreement and Transaction Documents are hereby ratified and confirmed and continue unchanged and in full force and effect.  All references to the Investment Agreement shall mean the Investment Agreement as modified by this Amendment.

7.

Confirmation of Indebtedness.   The Company confirms and acknowledges that as of October 22, 2013 the Company was indebted to the Investor, without any deduction, defense, setoff, claim or counterclaim, of any nature, in aggregate principal and interest (including Amortization Amounts as set forth in the Fourth Amendment) in the amount of $7,704,043 plus all fees, costs and expenses incurred to date in connection with the Investment Agreement and the other Transaction Documents.

8.

Collateral.  Company hereby confirms and agrees that all security interests and liens granted to Investor pursuant to the Transaction Documents continue in full force and effect and shall continue to secure the Obligations (as defined in the Security Agreement), including all liabilities and obligations (primary, secondary, direct, contingent, sole, joint or several) due or to become due, or that are now or may be hereafter contracted or acquired, or owing, under the Note and any other instruments, agreements or other documents executed and/or delivered in connection herewith or therewith, in each case, whether now or hereafter existing, voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Investor as a preference, fraudulent transfer or otherwise as such obligations may be amended, supplemented, converted, extended or modified from time to time.   

9.

No Waivers, Reservation of Rights. Investor has not waived, is not by this Amendment waiving, and has no intention of waiving, any defaults or Events of Default which be existing on date hereof or may occur after the date hereof.  Investor has not agreed to forbear with respect to any of its rights or remedies concerning any defaults or Events of Default, which may be continuing as of the date hereof or which may occur after the date hereof.  Investor reserves the right to exercise all of its rights and remedies, whether arising under the Investment Agreement, the other Transaction Documents or applicable law.   Neither this Amendment nor any other agreement entered in connection herewith or pursuant to the terms hereof shall be deemed or construed to be a compromise, satisfaction, reinstatement, accord and satisfaction, novation or release of the Investment Agreement or any of the other Transaction Documents, or any rights or obligations thereunder, or a waiver by Investor of any of its rights thereunder or at law or in equity.  This Amendment does not obligate Investor to agree to any other extension or modification of the Investment Agreement nor does it constitute a course of conduct or dealing on behalf of Investor or a waiver of any other rights or remedies of Investor.  No omission or delay by Investor in exercising any right or power under the Investment Agreement, this Amendment, the other Transaction Documents or any related instruments, agreements or documents will impair such right or power or be construed to be a waiver of any default or Event of Default or an acquiescence therein, and any single or partial exercise of any such right or power will not preclude other or further exercise thereof or the exercise of any other right, and no waiver will be valid unless in writing and then only to the extent specified.

10.

Governing Law.  This Amendment shall be governed by and construed in accordance with the internal laws of the State of New York, without giving effect to any of the conflicts of law principles which would result in the application of the substantive law of another jurisdiction.  This Amendment shall not be interpreted or construed with any presumption against the party causing this Amendment to be drafted.

11.

Signatories.  Each individual signatory hereto represents and warrants that he or she is duly authorized to execute this Amendment on behalf of his or her principal and that he or she executes the Amendment in such capacity and not as a party.

12.

Duplicate Originals.  Two or more duplicate originals of this Amendment may be signed by the parties, each of which shall be an original but all of which together shall constitute one and the same instrument.  This Amendment may be executed in counterparts, all of which counterparts taken together shall constitute one completed fully executed document.  Signature by facsimile or PDF shall bind the parties hereto.

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IN WITNESS WHEREOF, the parties have executed this Amendment the day and year first above written. 

		
	Company: 

	DESERT HAWK GOLD CORP 

By: /s/ Rick Havenstrite

Name: Rick Havenstrite

Title: President

	 
	 

	 
	 

	Investor: 

	DMRJ GROUP I LLC

By: /s/ Daniel Small

Name: Daniel Small

Title: Daniel Small

[SIGNATURE PAGE TO NINTH AMENDMENT]ex10x1.htm

Exhibit 10.1

 

 

AMENDMENT AND RELEASE AGREEMENT

 

 

This Amendment and Release Agreement (this "Agreement"), dated as of September 23, 2013, is entered into by and among SH Franchising & Licensing LLC, a New York limited liability company ("Company"), Southern Hospitality Franchisee Holding Corporation, a Colorado corporation ("Developer"), and Southern Hospitality Denver, LLC, a Colorado limited liability company ("Franchisee").

 

RECITALS

 

WHEREAS, Company and Developer are parties to an Area Development Agreement dated November 4, 2011, as amended November 4, 2011 and November 9, 2012 (together referred to herein as the "ADA").

 

WHEREAS, Company and Franchisee are parties to a Franchise Agreement dated November 4, 2011, as amended November 4, 2011, November 9, 2012 and January 9, 2013 (collectively referred as the "FA").

 

WHEREAS, certain affiliates of the Developer and the Franchisee are parties to ancillary agreements with the Company that were entered into in connection with the ADA and/or the FA (the "Ancillary Agreements").

 

WHEREAS, Company, Developer and Franchisee have continuing disputes under the ADA and the FA, and desire to enter into this Agreement to settle those disputes and to provide mutual releases with respect to all previous actions or inactions.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Company, Developer and Franchisee agree as follows:

 

AGREEMENT

 

1.  Termination of ADA; Amendment of FA. The Company and Developer hereby terminate the ADA in its entirety, including the Ancillary Agreements, which include: Confidentiality, Non-Disclosure and Non-Competition Agreements with JW Roth and Gary Tedder; and Confidentiality Agreements with Messrs. Roth and Tedder. The Company and Franchisee hereby amend the FA as set forth in Exhibit A. The Franchisee hereby tenders $1,500 via check to the Company as additional consideration under this Agreement.

 

2.  Effect of Termination & Amendment; Non-disparagement, So long as Developer is in good standing with the FA and its lease for the Store, the Company covenants and agrees not to pursue any location for any competing restaurants in which Company may have any interest, directly or indirectly, within a three mile radius Franchisee's currently leased property located at 1433 17th Street, Denver, Colorado (the "Store"). The Company also covenants and agrees not to pursue negotiations or discussions with the landlord or its affiliated entities or assignees for Franchisee's currently leased property located at 1433 17th Street, Denver, Colorado provided the Franchisee is in good standing with the FA and its lease for the Store. Franchisee will be provided a one week cure period upon being noticed by Company prior to Company pursuing any such negotiations or discussions with landlord. Further, the parties shall not, and will direct its officers, directors, employees and agents not to, directly or indirectly, with attribution or anonymously or through others, make any statements concerning any other party, or its officers, directors, parents or affiliates that should reasonably be construed as derogatory or disparaging.

 

 

 

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3.  Release by the Company. For value received, the Company for itself and for each and all of its past, present and future successors, assigns, members, managers, affiliates, licensees, transferees, principals, servants, agents, representatives, attorneys, insurers, legal representatives and all other similarly situated persons (as applicable, collectively, the "Company Releasing Parties") hereby, to the fullest extent permitted by law, fully and forever releases and discharges the Developer, the Franchisee, Smokin Concepts Development Corporation, J W Roth, Gary Tedder, and each of their respective joint or mutual, past, present or future directors, officers, managers and equity holders and the past, present or future successors, assigns, affiliates, licensees, transferees, principals, servants, agents, representatives, attorneys, insurers, legal representatives, descendants, dependents, heirs, executors and administrators of each of the foregoing persons (collectively, the "Developer Released Parties") from any and all claims, demands, liens, causes of action, suits, obligations, controversies, debts, costs, expenses, damages, judgments and orders of whatever kind or nature, in law, equity, or otherwise, whether known or unknown, suspected or unsuspected, fixed or contingent, matured or unmatured, and whether or not concealed or hidden, which have existed or do presently exist or may exist relating in any manner to the ADA, FA or Ancillary Agreements, or any of Developer Released Parties' activities; provided, however, that this release shall not extend to any rights or claims arising under this Agreement and any future claims under the FA, as amended hereby. Each Company Releasing Party hereby irrevocably covenants to refrain from, directly or indirectly, asserting any claim or demand, or commencing, instituting or causing to be commenced, any proceeding of any kind against any Developer Released Party, based upon any matter purported to be released hereby.

 

4.  Release by the Developer and Franchisee. For value received, Developer and Franchisee, each for itself and for each and all of its past, present and future successors, assigns, members, managers, affiliates, licensees, transferees, principals, servants, agents, representatives, attorneys, insurers, legal representatives and all other similarly situated persons (as applicable, collectively, the "Developer Releasing Parties") hereby, to the fullest extent permitted by law, fully and forever releases and discharges the Company, and each of their respective joint or mutual, past, present or future directors, officers, managers and equity holders and the past, present or future successors, assigns, affiliates, licensees, transferees, principals, servants, agents, representatives, attorneys, insurers, legal representatives, descendants, dependents, heirs, executors and administrators of each of the foregoing persons (collectively, the "Company Released Parties") from any and all claims, demands, liens, causes of action, suits, obligations, controversies, debts, costs, expenses, damages, judgments and orders of whatever kind or nature, in law, equity, or otherwise, whether known or unknown, suspected or unsuspected, fixed or contingent, matured or unmatured, and whether or not concealed or hidden, which have existed, do presently exist or may exist, relating in any manner to the ADA, FA or Ancillary Agreements, or any of Company Released Parties' activities; provided, however, that this release shall not extend to any rights or claims arising under this Agreement and any future claims under the FA, as amended hereby. Each Developer Releasing Party hereby irrevocably covenants to refrain from, directly or indirectly, asserting any claim or demand, or commencing, instituting or causing to be commenced, any proceeding of any kind against any Company Released Party, based upon any matter purported to be released hereby.

 

 

 

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5.  Entire Agreement, This Agreement supersedes all prior discussions and agreements between any of the parties hereto, with respect to the matters relating to the settlement of disputes relating to the ADA, FA and Ancillary Agreements and constitutes the sole and entire agreement between the parties hereto with respect to the subject matter hereof and thereof.

 

6.  Counterparts: Headings. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but ail of which shall constitute one and the same instrument. The headings herein set out are for convenience of reference only and shall not be deemed a part of this Agreement.

 

7.  Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective heirs, representatives and successors (and, in the case of Paragraphs 3 and 4, shall be binding on each of the Releasing Parties and shall inure to the benefit of each of the Released Parties).

 

8.  Governing Law; Jurisdiction; WAIVER OF JURY TRIAL. The laws of Colorado (without regard to conflict of laws) shall govern the validity and interpretation of this Agreement. Each of the parties irrevocably and unconditionally submits, for itself and its property, to the jurisdiction of any Federal or state court located in New York City, New York and any appellate court thereof, in any legal action arising out of or relating to this Agreement or for recognition or enforcement of any judgment relating thereto. EACH PARTY HERETO ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION ARISING OUT OF OR RELATING TO THIS AGREEMENT.

 

9.  Severability. Each provision of this Agreement is intended to be severable. If any term or provision hereof is illegal or invalid for any reason whatsoever, such illegality or invalidity shall not affect the legality or validity of the remainder of this Agreement.

 

10.     Delivery by Facsimile or E-mail; Counterparts. This Agreement and any amendments hereto, to the extent signed and delivered by means of email, shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. This Agreement may be executed in two or more separate counterparts, any one of which need not contain the signatures of more than one party, but each of which will be an original and all of which together shall constitute one and the same agreement binding on all the parties hereto.

 

 

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11.  Construction. Every provision of this Agreement shall be construed according to its fair meaning and not strictly for or against any party.

 

12.  Third-Party Beneficiaries. Except for the provisions of Paragraphs 3 and 4 benefiting the Released Parties (who shall be intended third party beneficiaries entitled to directly enforce the provisions thereof), nothing expressed or referred to in this Agreement will be construed to give any person other than the parties to this Agreement and their successors and assigns, any legal or equitable right, remedy, or claim under or with respect to this Agreement or any provision of this Agreement.

 

 

 

 

[remainder of page intentionally blank]

 

 

 

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IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of the date first written above.

 

	
SH Franchising & LICENSING, LLC

 

	 	 	SOUTHERN HOSPITALITY DENVER, LLC	 
	
/s/ Nelson Braff

	 	 	
/s/ Robert B. Mudd

	 
	
Name:  Nelson Braff

	 	 	
Name: Robert B. Mudd

	 
	
Title: President

	 	 	
Title: Manager

	 
	Email: nbraffphd@aol.com	 	 	Email: bob@accreditedmembers.com	 

 

	
 
SOUTHERN HOSPITALITY FRANCHISEE HOLDING CORPORATION

 

	 	 
	
/s/ Robert B. Mudd

	 	 	 
	
Name:  Robert B. Mudd

	 	 	 
	
Title: Interim Chief Executive Officer

	 	 	 
	Email: bob@accreditedmembers.com	 	 	 

 

 

 

 

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EXHIBIT A

 

 

 

 

AMENDMENTS TO FRANCHISE AGREEMENT

 

 

 

 

 

 

 

 

 

 

 

FOURTH AMENDMENT 

TO THE 

FRANCHISE AGREEMENT

 

 

This Fourth Amendment to Franchise Agreement (the "Fourth Amendment") is made as of September 23, 2013, by and between SH Franchising & LICENSING LLC, a New York limited liability company ("Company") and SOUTHERN HOSPITALITY DENVER, LLC, a Colorado limited liability company ("Franchisee").

 

WHEREAS, Company and Franchisee desire to amend the Franchise Agreement dated November 4, 2011, as amended November 4, 2011, November 9, 2012 and January 9, 2013 (collectively referred as the "FA").

 

WHEREAS, concurrent herewith the Company and Smokin Concepts Development Corporation f/k/a Southern Hospitality Franchisee Holding Corporation have terminated the Area Development Agreement dated November 4, 2011, as amended (the "ADA") pursuant to the Amendment and Release Agreement of even date herewith (the "Release Agreement"). Unless otherwise defined in this Fourth Amendment, all defined terms used in this Fourth Amendment, as denoted by the use of initial capita! letters, have the same meanings as in the FA or the ADA at the time of termination.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Company and Franchisee agree as follows:

 

1.   Section XI(B) of the FA is amended and restated in its entirety as follows:

 

B. Royalty Fee. In consideration of the franchise and license awarded to Franchisee, Franchisee shall pay fo Company, beginning on the Opening Date and until December 31, 2013, without offset, credit or deduction of any nature, a Royalty Fee equal to five percent (5%) of Gross Sales, and after December 31, 2013 until the remainder of the Term, without offset, credit or deduction of any nature, a Royalty Fee equal to the greater of: (i) two and one half percent (2-1/2%) of Gross Sales; or (ii) $5,000 per month, subject to annual increase of 3% per year, with the first increase calculated on January 1, 2015; in each case subject to reduction as provided below. The Royalty Fee shall be due and payable monthly for the Accounting Period specified in the Confidential Manual based upon the Franchised Business' aggregate Gross Sales during the specified Accounting Period just ended, or on a more frequently schedule as Company may direct upon not less than 10 days prior written notice. Franchisee shall pay the Royalty Fee by automatic bank debit in accordance with Company's current electronic funds transfer procedures described in this Agreement and the Confidential Manual.

 

Except as specifically amended or modified by the terms of this Fourth Amendment and the Release Agreement, the FA shall be read, interpreted and construed as written and executed by the parties. No further amendments or modifications of the FA shall be made or implied unless they are contained in a further writing executed by the parties.

 

       2. Article X (Advertising) is deleted in its entirety.

 

       3. Article XI, Section C (Payments/Promotional Fund Fee) is deleted in its entirety.

 

 

Page 1 - Fourth Amendment to FA

 

 

 

 

4.  Article XVI (Covenants) is deleted in its entirety.

 

5.    Article I, Section P defining "Covered Person" hereby is amended to read as follows: "Covered Person" means any Primary Owner.

 

6.    Article I, Section T defining "Event of Transfer" hereby is amended to read as follows:: "Event of Transfer" means any transaction by Franchisee that results In the sale, assignment, transfer, pledge, gift, encumbrance or alienation of any interest in this Agreement or the right to use the Southern Hospitality System or any portion or components or any of Southern Hospitality Licensed Marks.

In the Confidentiality, Non-Disclosure and Non-Competition Agreement referenced in the FA, Sections 4 (Agreements Regarding Competition) and 6 (Interference) are deleted in their entirety.

 

As consideration for the reduced Royalty Payments herein contained, Company Is released of any obligation and/or deliverables which may be contained in the FA. Company shall perform any such obligations and/or deliverables as Company, in its sole discretion, may determine.

 

In the Confidentiality Agreement referenced in the FA, Section 4 (Interference) is deleted in its entirety.

 

Other than as specifically set forth herein, the FA shall, in all other respects, remain in full force and effect.

 

IN WITNESS WHEREOF, the parties hereto have executed this Fourth Amendment to the Franchise Agreement as of the day and year first above written.

 

 

	 	 
SH Franchising & LICENSING, LLC

	 
	 	 	 
	
 

	/s/ Nelson Braff	 
	 	Name: Nelson Braff	 
	 	Title:  Member	 
	 	 	 

 

	 	SOUTHERN HOSPITALITY DENVER, LLC	 
	 	
/s/ Robert B. Mudd

	 
	 	
Name: Robert B. Mudd

	 
	 	
Title: Manager

	 
	 	Email: bob@accreditedmembers.com	 

 

 

 

 

Page 2 - Fourth Amendment to FA

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