Document:

EXHIBIT
10.6

     

    SUBSCRIPTION
AGREEMENT

     

    DIVERSIFIED
PRODUCT INSPECTIONS, INC.

    c/o
Williams, Williams, Rattner & Plunkett, PC

    380 North
Old Woodward Ave., Suite 300

    Birmingham,
Michigan 48009

    

    Gentlemen:

    Section
1.    Amount and Method of Payment.  Diversified
Product Inspections, Inc., a Delaware corporation (the “Company”), and EIG
Venture Capital, Ltd. (the “Purchaser”) have agreed as follows with respect to
the sale by the Company to the Purchaser of an aggregate
of  97,751,710 shares of the Company’s Common Stock, par value $0.0001
per share (the “Common Stock”), at a fixed price of $0.01023_ per share, in
three tranches: (1) the Phase I tranche would consist of 5,767,350 shares of
Common Stock for a total purchase price of $59,000, to be purchased by the
Purchaser on or before July 16, 2009; (2)  the Phase II tranche would
consist of 43,108,504 shares of Common Stock for a total purchase price of
$441,000, to be purchased by the Purchaser on or before December 31, 2009; and
the Phase III tranche would consist of 48,875,855 shares of Common Stock for a
total purchase price of $500,000 to be purchased by the Purchaser on or before
July 16, 2010. The shares of Common Stock to be purchased by Purchaser are
herein referred to as the “Shares”.

    

    Together
with this Subscription Agreement, the Purchaser is delivering, or has previously
delivered, the full amount of the purchase price (the “Purchase Price”) of
US$59,000 for the Phase I purchase of  5,767,350  Shares,
and agrees to purchase the 43,108,504 Phase II Shares for a purchase price of
$441,000 on or before December 31, 2009, and the 48,875,855 Phase III Shares on
or before July 16, 2010 as agreed with the Company. Payment of the Purchase
Price shall be made as directed by the Company.  The Shares
compromising each of the tranches in Phases I through III may be purchased in
one or more installments by the Purchaser; provided, that the number of Shares
required to be purchased in each tranche is purchased in its entirety by the
final purchase date specified above for the entire tranche.

     

    
      
         

      

      
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    Section
2.    Representations and Warranties of the
Company.  The Company represents and warrants to the subscriber
that:

    

    2.1           The
Company is a corporation duly organized, validly existing and in good standing
under the laws of the State of Delaware, and has the power and authority to
carry on its business as conducted or proposed to be conducted by it and to hold
title to its property.  The Company has the corporate power and
authority to execute and deliver this Subscription Agreement, to conduct such
business and to perform its obligations hereunder and consummate the
transactions contemplated by each Subscription Agreement tendered by a
subscriber that is accepted by the Company (collectively, the “Subscription
Agreements”).

    

    2.2           When
(i) the Company has received payment for subscriptions in accordance with the
provisions of this Subscription Agreement and the Shares are issued to the
Purchaser, the Shares will be duly and validly issued, fully paid and
non-assessable shares of Common Stock.

    

    2.3           This
Subscription Agreement has been duly and validly authorized, executed and
delivered by the Company and constitutes the valid and binding agreement of the
Company, enforceable in accordance with its terms, except that such enforcement
may be subject to the effect of any applicable bankruptcy, insolvency,
reorganization, moratorium, fraudulent conveyance and other similar laws
relating to or affecting creditors' rights generally and general principals of
equity (regardless of whether such enforcement is considered in a proceeding in
equity or at law).

    

    2.4           The
Company's execution and delivery of this Subscription Agreement, the fulfillment
of the terms set forth herein and the consummation of the transactions
contemplated herein will not conflict with or constitute a breach of, or default
under (i) the Company's articles of incorporation or by-laws, (ii) any material
agreement, indenture or instrument by which the Company is bound (except to the
extent such conflict, breach or default would not have a material adverse effect
on the value of the assets or the operation of the business of the Company), or
(iii) any law, administrative regulation or court decree (except to the extent
such conflict, breach or default would not have a material adverse effect on the
value of the assets or the operation of the business of the
Company.

     

    
      
         

      

      
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    Section
3.    Representations and Warranties of
Purchaser.  In order to induce the Company to accept this
subscription, the Purchaser hereby represents and warrants to, and covenants
with, the Company as follows:

    

    3.1           The
Purchaser is acquiring the Shares solely for the account of the Purchaser, for
investment purposes only, and not with a view towards the resale or distribution
thereof.  The Purchaser further agrees not to transfer the Shares in
violation of the Securities Act, or any applicable state securities law, and no
one other than the Purchaser has any beneficial interest in the
Shares;

    

    3.2           The
Purchaser agrees that it will not sell or otherwise dispose of any of the Shares
to a U.S. person (as defined in Regulation S under the Securities Act) unless
such sale or other disposition (i) has been registered under the Securities Act
or, in the opinion of counsel, is exempt from registration under the Securities
Act and (ii) has been registered or qualified or, in the opinion of such
counsel, is exempt from registration or qualification under the applicable state
securities laws.   The Purchaser may not sell, transfer, or
otherwise dispose of the Shares, except in compliance with the applicable rules
of the SEC and applicable state securities authorities;

    

    3.3           The
Purchaser is not a “U.S. person” as defined in Regulation S under the Securities
Act and has such knowledge and experience in financial and business matters as
to be capable of evaluating the merits and risks of the Purchaser’s investment
in the Company.  The Purchaser has the financial ability to bear the
economic risks of its entire investment for an indefinite period, would be able
to sustain a complete loss of its investment, and the Purchaser has no need for
liquidity with respect to its investment in the Company;

    

    3.4           Each
of the Purchaser, and if applicable, the Purchaser’s representative, has
received and carefully reviewed the periodic reports filed by the Company under
the Securities Exchange Act of 1934, as amended. The Purchaser acknowledges and
agrees that the foregoing shall be supplemented by subsequent periodic reports
filed by the Company with the SEC pursuant to the Securities Exchange Act of
1934, as amended.

     

    
      
         

      

      
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    3.5           The
Purchaser, and if applicable, the Purchaser’s representative, has had a
reasonable opportunity to ask questions of and receive answers from the Company
concerning the Company and the Offering and to verify the accuracy of any
representation or information set forth in the Company Reports, and all such
questions, if any, have been answered to the full satisfaction of the
Purchaser;

    

    3.6           The
Purchaser has full power and authority to execute and deliver this Subscription
Agreement and to perform the Purchaser’s obligations hereunder, and this
Subscription Agreement is a legally binding obligation of the Purchaser
enforceable against Purchaser in accordance with its terms; and

    

    Section
4.    All the information which the undersigned has
furnished to the Company, or which is set forth herein, is correct and complete
as of the date of this Subscription Agreement, and if there should be any
material change in such information, the Purchaser will immediately furnish such
revised or corrected information to the Company.

    

    Section
5.    Binding Effect.  The Purchaser understands
that this subscription is not binding upon the Company until the Company accepts
it, which acceptance is at the sole discretion of the Company and is to be
evidenced by the Company’s execution of the Signature Page where
indicated.  This Subscription Agreement shall be null and void if the
Company does not accept it as aforesaid.  Upon acceptance by the
Company and receipt of the Purchase Price, the Company will issue to the
Purchaser Notes in the principal amount set forth on the Signature Page
hereof.

    

    Section
6.    Restrictive Legend and Stop-Transfer
Instructions.

    6.1           The
Purchaser shall comply with all of the following restrictions prior to reselling
any of the Shares:

    (a)           Until
the Shares have been registered with the United States Securities and Exchange
Commission, the Purchaser shall notify the Company about any proposed resale to
a U.S. Person (as defined above) which notice must be received by the Company at
least five (5) business days prior to such resale;

     

    
      
         

      

      
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    (b)           All
offers or sales of the Shares by the Purchaser in the United States or to U.S.
persons may only be made pursuant to an effective registration statement filed
under this Securities Act or by an exemption from registration under this
Securities Act and in compliance with all applicable state securities laws;
and

    (c)           If
requested by the Company, the Purchaser shall provide a satisfactory opinion
from legal counsel that the Purchaser’s resale complies with this

    

    Section
6.2.

    Any
certificate or certificates representing the Shares shall bear an appropriate
legend evidencing the preceding restrictions

    

    Section
7.    Confidentiality.  The Purchaser acknowledges
and agrees that all information relating to the  Company and the
Offering shall be kept confidential by the Purchaser, except as otherwise
required by law or made public other than by or through the
undersigned.

    

    Section
8.    Nontransferability.  Neither this
Subscription Agreement nor any of the rights of the Purchaser hereunder may be
transferred or assigned by the Purchaser and any attempted assignment shall be
null and void.

    

    Section
9.    Amendment; Entire Agreement; Governing
Law.  This Subscription Agreement (i) may only be modified by a
written instrument executed by the Purchaser and the Company, (ii) together with
the investor questionnaire, sets forth the entire agreement of the Purchaser and
the Company with respect to the subject matter hereof and supersedes all prior
agreements and understandings between or among the parties with respect to the
subject matter hereof, (iii) shall be governed by the laws of the State of
Delaware applicable to contracts made and to be wholly performed therein, and
(iv) shall inure to the benefit of, and be binding upon, the Company and the
Purchaser and their respective legal representatives, successors and permitted
assigns.

    

    Section
10.    Pronouns; Counterparts.  Unless the context
otherwise requires, all personal pronouns used in this Subscription Agreement,
whether in the masculine, feminine or neuter gender, shall include all other
genders.  This Subscription Agreement may be executed in counterparts
and by facsimile and each of such counterparts shall constitute an original, and
all of which together shall constitute one and the same document.

     

    
      
         

      

      
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    IN
WITNESS WHEREOF, the undersigned have hereunto set their hands and seals as of
the respective dates and year set forth below.

    

    Phase I
shares subscribed: 5,767,350

    

    Aggregate
Purchase Price of Phase I Shares subscribed: $59,000

    

    Payment
Method: The amount has already been paid.

    

      
        	
                EIG
      Venture Capital, Ltd.

              	 
      
	
                   

              	 
      
	
                Purchaser
      (please print)

              	 
      
	 
      	 
      
	 
      	 
      
	
                By:

              	
                   /s/ Ulf
      Telander

              	 
      
	
                Signature;
      Title:  Secretary

              	 
      
	 
      	 
      
	
                Address:

              	 
      
	
                    

              	 
      
	
                    

              	 
      
	
                    

              	 
      
	 
      	 
      
	
                Date:
      July 22, 2009

              	 
      
	
                ACCEPTED:

              	 
      
	 
      	 
      
	
                DIVERSIFIED
      PRODUCT INSPECTIONS, INC.

              	 
      
	 
      	 
      
	
                By:
      /s/ Jan Telander, Chief Executive Officer

              	 
      
	 
      	 
      
	
                Date:
      July 22, 2009

              

      

      
        
           

        

        
          - 6
-Third Amendment to Lease

 Exhibit 10.3 
 THIRD AMENDMENT TO LEASE 
 This Third Amendment to Lease (the
“Amendment” or “Third Amendment”) is entered into effective as of June 10, 2009 (the “Effective Date”), by and between Minneapolis 225 Holdings, LLC, a
Delaware limited liability company (“Landlord”), and Capella Education Company, a Minnesota corporation (“Tenant”). 
 RECITALS 
 A. Landlord and Tenant are parties to an Office Lease dated
February 23, 2004 (the “Original Lease”), which was amended by a First Amendment to Lease dated May 16, 2006, and a Second Amendment to Lease dated March 17, 2008 (the “Second
Amendment”) (as so previously amended the “Existing Lease” and as amended by this Third Amendment, the “Lease”), relating to certain premises situated in the office
project now commonly known as 225 South Sixth in Minneapolis, Minnesota. 
 B. Landlord and Tenant now want to expand the size of the
Premises on the terms and conditions hereinafter set forth. 
 Accordingly, Landlord and Tenant hereby agree as follows: 
 1. Application of Lease Terms. Except to the extent inconsistent with this Amendment and except to the extent that the terms of this Amendment
specifically address a topic, the terms and conditions of the Existing Lease shall apply. Those capitalized terms which are used in this Amendment and are not defined herein shall have the respective meaning given to them in the Existing Lease.

 2. Definitions. The following definitions are hereby added alphabetically to Section 1 of the Lease: 
 “15th Floor Expansion Space” means the approximately 1,133 square feet of Rentable
Area which is located on the 15th floor of the Building and which is depicted on Exhibit U that is attached to this Third Amendment. 
 “15th Floor Expansion Space Delivery Date”
 means the date on which Landlord delivers a fully executed copy of this Third Amendment to Tenant. 
 “15th Floor Expansion Space Rent Commencement Date” means September 1, 2009.

 3. Addition to Premises; Declaration From and after the 15th Floor Expansion Space Delivery Date, the 15th Floor Expansion Space shall be a part of the Premises for all purposes of this Lease, except that Tenant shall not be obligated to
pay any Base Rent for the 15th Floor Expansion Space until the 15th Floor Expansion Space Rent Commencement Date and Tenant shall not be obligated to pay any
Tenant’s Additional Rent for the 15th Floor Expansion Space. Landlord shall
promptly after 15th Floor Expansion Space Rent Commencement Date, prepare a
declaration (substantially in the form of Exhibit V attached hereto) confirming the 15th Floor Expansion Space Rent Commencement Date and the other information set forth thereon. 

 Tenant shall execute and return such declaration within twenty (20) days after submission. If Tenant fails to execute and
return such declaration to Landlord within said twenty (20) day period, Tenant shall be conclusively deemed to have agreed that the information in the declaration is accurate and Tenant shall have thereby waived any right to object to the
accuracy of such information unless Landlord has, during said twenty (20) day period, received a written notice from Tenant objecting to such information and describing in detail Tenant’s reasons for so objecting. 
 4. “As Is” Condition. Tenant agrees to accept the 15th Floor Expansion Space in its “as is” condition on
the date possession of such space is delivered to Tenant. Tenant acknowledges that Landlord shall not be obligated to make any improvements to the 15th Floor Expansion Space and that Tenant shall not be entitled to any construction, build-out or other allowance with respect thereto.

 5. Base Rent. Tenant shall pay as monthly Base Rent for the 15th Floor Expansion Space an amount equal to one-twelfth of the product of Eight and 00/100 Dollars ($8.00) times the number of square
feet of the Rentable Area of the 15th Floor Expansion Space for the period beginning
on September 1, 2009, and ending on October 31, 2015. If Tenant extends the Lease Term, Tenant shall pay the Market Base Rental Rate for the 15th Floor Expansion Space from and after November 1, 2015. For such purposes, the term “Market Base Rental Rate”
shall mean the amount of cash which a landlord would receive annually by then renting the 15th Floor Expansion Space assuming the landlord to be a prudent person willing to lease but being under no compulsion to do so, assuming the tenant to be a prudent person willing to lease but being under no compulsion to do so, and assuming a
lease containing the same terms and provisions as those herein contained. Market Base Rental Rate shall take into consideration all relevant factors including the condition of the 15th Floor Expansion Space. If Landlord and Tenant cannot agree to the Market Base Rental Rate for the 15th Floor Expansion Space on or before the date that is thirty (30) days after Tenant extends
the Lease Term, either party may by written notice to the other initiate the determination of such rate by arbitration in accordance with the arbitration provisions set forth in Section 17 of Exhibit J to the Second Amendment. 
 6. Tenant’s Additional Rent. Tenant shall not be obligated to pay any Tenant’s Additional Rent for the 15th Floor Expansion Space.

 7. Utilities; Additional Services. Tenant shall pay for all utilities furnished to the 15th Floor Expansion Space (including the cost of any sub-metering needed to measure such use) and
the cost of any additional services which are furnished to the 15th Floor Expansion
Space by Landlord at Tenant’s request. 
 8. Brokerage Commissions. Tenant warrants that it has not engaged or dealt with any
broker in connection with this Third Amendment and Tenant agrees to indemnify, defend and hold Landlord harmless from and against any claim for broker’s fees or finder’s fees asserted on account of any dealings with Tenant by any broker
other than those specified herein. 
 9. Counterparts. This Third Amendment may be executed in any number of counterparts, all of
which shall be considered one and the same Amendment, even though all parties hereto have not signed the same counterpart. Signatures on this Third Amendment which are transmitted by facsimile shall be valid for all purposes. Any party shall,
however, deliver an original signature for this Third Amendment to the other party upon request. 
  

 2 

 10. Reaffirmation of Lease. Except as expressly amended herein, all of the terms and conditions of
the Existing Lease remain in full force and effect. 
 11. Successors and Assigns. This Third Amendment shall be binding upon and be
enforceable by Landlord and Tenant and their successors and permitted assigns. 
  

 3 

 IN WITNESS WHEREOF, Tenant has executed this Third Amendment to Lease to be effective as of the date
first above written. 
  

			
	TENANT:
	
	 CAPELLA EDUCATION COMPANY
 a Minnesota
corporation

		
	By:	 	 /s/    Gregory W. Thom

	Name:	 	Gregory W. Thom
	Title:	 	VP, General Counsel, Secretary

 This is a signature page to the Third Amendment to Lease between Minneapolis 225 Holdings,
LLC, a Delaware limited liability company, as Landlord, and Capella Education Company, a Minnesota corporation, as Tenant. 
  

 4 

 IN WITNESS WHEREOF, Landlord has executed this Third Amendment to Lease to be effective as of the date
first above written. 
  

			
	LANDLORD:
	
	 MINNEAPOLIS 225 HOLDINGS, LLC,
 a Delaware
limited liability company

		
	By:	 	 /s/    Mandi Wedin

	Name:	 	Mandi Wedin
	Title:	 	Vice President

 This is a signature page to the Third Amendment to Lease between Minneapolis 225 Holdings,
LLC, a Delaware limited liability company, as Landlord, and Capella Education Company, a Minnesota corporation, as Tenant. 
  

 5 

 EXHIBIT U 
 DEPICTION OF 15TH FLOOR EXPANSION
SPACE 
 

 

 EXHIBIT V 
 DECLARATION OF 15TH FLOOR

 EXPANSION SPACE RENT COMMENCEMENT DATE 
 This Declaration is made as of             , 2009, by and between Minneapolis 225 Holdings, LLC, a Delaware limited liability company
(“Landlord”), and Capella Education Company, a Minnesota corporation (“Tenant”). 
 Landlord
and Tenant are parties to an Office Lease dated as of February 23, 2004, which was amended by a First Amendment to Lease dated May 16, 2006, a Second Amendment to Lease dated March 17, 2008, and a Third Amendment to Lease dated
            , 2009 (the “Third Amendment”) (as amended, the “Lease”), relating to certain premises situated in the office project now commonly known as 225
South Sixth in Minneapolis, Minnesota. 
 In accordance with Section 3 of the Third Amendment, Landlord and Tenant hereby memorialize
that: 
  

	 	1.	 The 15th Floor Expansion Space Rent Commencement Date was             , 2009. 

  

	 	2.	The Premises contain      square feet of Rentable Area as of             , 2009.

  

			
	TENANT:
	
	 CAPELLA EDUCATION COMPANY,
 a Minnesota
corporation

		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	LANDLORD:
	
	 MINNEAPOLIS 225 HOLDINGS, LLC,
 a Delaware
limited liability company

		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

 1

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