Document:

Exhibit 10.2

Exhibit 10.2

 

COMMON STOCK
PURCHASE AGREEMENT

 

AGREEMENT
entered into as of the 26thday of May, 2011, by and between Iron Sands Corp., a Delaware corporation with
an address at c/o Sunrise Securities, 641 Lexington Avenue, 25th Floor, New York, NY 10022 (the “Company”)
and NLBDIT 2010 Services, LLC, a Nevada limited liability company with an address at c/o Sunrise Securities, 641 Lexington Avenue,
25th Floor, New York, NY 10022 (the “Purchaser”).

 

WHEREAS,
the Purchaser desires to purchase, and the Company desires to sell, an aggregate of 5,000,000 shares (the “Shares”)
of the Company’s common stock, par value $0.0001 per share (the “Common Stock”) upon the terms and conditions
hereof.

 

NOW,
THEREFORE, in consideration of the premises and the mutual agreements herein contained, the Purchaser and the Company hereby agree
as follows:

 

SECTION 1: SALE
OF THE SHARES

 

1.1
Sale of the Shares. Subject to the terms and conditions hereof, the Company will sell and deliver to the Purchaser and
the Purchaser will purchase from the Company, upon the execution and delivery hereof, the Shares for a purchase price equal to
$25,000.

 

SECTION 2: CLOSING
DATE; DELIVERY

 

2.1
Closing Date. The closing of the purchase and sale of the Shares hereunder (the “Closing”) shall be held immediately
following the execution and delivery of this Agreement.

 

2.2
Delivery at Closing. At the Closing, the Company will deliver to the Purchaser a stock certificate registered in the Purchaser’s
name, representing the number of Shares to be purchased by Purchaser hereunder, against payment of the purchase price therefore
as indicated above.

 

SECTION 3: REPRESENTATIONS
AND WARRANTIES OF PURCHASER

 

The
undersigned Purchaser hereby represents and warrants to the Company as follows:

 

3.1
Transfer of Shares. The Shares have not been registered under the Securities Act and cannot be sold or otherwise transferred
without an effective registration or an exemption therefrom, and as of the date of this Agreement, may not be sold pursuant to
the exemptions provided by Section 4(1) of the Securities Act in accordance with the letter from Richard K. Wulff, Chief
of the Office of Small Business Policy of the Securities and Exchange Commission’s Division of Corporation Finance,
to Ken Worm of NASD Regulation, Inc., dated January 21, 2000.

 

 

3.2
Experience. The undersigned has such knowledge and experience in financial and business matters that the undersigned is
capable of evaluating the merits and risks of investment in the Company and of making an informed investment decision. The undersigned
has adequate means of providing for the undersigned's current needs and possible future contingencies and the undersigned has
no need, and anticipates no need in the foreseeable future, to sell the Shares for which the undersigned subscribes. The undersigned
is able to bear the economic risks of this investment and, consequently, without limiting the generality of the foregoing, the
undersigned is able to hold the Shares for an indefinite period of time and has sufficient net worth to sustain a loss of the
undersigned's entire investment in the Company in the event such loss should occur. Except as otherwise indicated herein, the
undersigned is the sole party in interest as to its investment in the Company, and it is acquiring the Shares solely for investment
for the undersigned's own account and has no present agreement, understanding or arrangement to subdivide, sell, assign, transfer
or otherwise dispose of all or any part of the Shares subscribed for to any other person.

 

3.3
Investment; Access to Data. The undersigned has carefully reviewed and understands the risks of, and other considerations
relating to, a purchase of the Common Stock and an investment in the Company. The undersigned has been furnished materials relating
to the Company, the private placement of the Common Stock or anything else that it has requested and has been afforded the opportunity
to ask questions and receive answers concerning the terms and conditions of the offering and obtain any additional information
which the Company possesses or can acquire without unreasonable effort or expense. Representatives of the Company have answered
all inquiries that the undersigned has made of them concerning the Company, or any other matters relating to the formation and
operation of the Company and the offering and sale of the Common Stock.The undersigned has not been furnished any offering
literature other than the materials that the Company may have provided at the request of the undersigned; and the undersigned
has relied only on such information furnished or made available to the undersigned by the Company as described in this Section.
The undersigned is acquiring the Shares for investment for the undersigned's own account, not as a nominee or agent and not with
the view to, or for resale in connection with, any distribution thereof. The undersigned acknowledges that the Company is a start-up
company with no current operations, assets or operating history, which may possibly cause a loss of Purchaser’s entire investment
in the Company.

 

3.4
Authorization. (a) This Agreement, upon execution and delivery thereof, will be a valid and binding obligation of Purchaser,
enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization and moratorium laws and
other laws of general application affecting enforcement of creditors' rights generally.

 

(b)
The execution, delivery and performance by Purchaser of this Agreement and compliance therewith and the purchase and sale of the
Shares will not result in a violation of and will not conflict with, or result in a breach of, any of the terms of, or constitute
a default under, any provision of state or Federal law to which Purchaser is subject, or any mortgage, indenture, agreement, instrument,
judgment, decree, order, rule or regulation or other restriction to which the Purchaser is a party or by which the undersigned
Purchaser is bound, or result in the creation of any mortgage, pledge, lien, encumbrance or charge upon any of the properties
or assets of Purchaser pursuant to any such term.

 

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3.5
Accredited Investor. Purchaser is an accredited investor as defined in Rule 501(a) of Regulation D under the Securities
Act of 1933, as amended and has executed the statement of accredited investor annexed hereto as Exhibit A.

 

SECTION 4: MISCELLANEOUS

 

4.1
Governing Law. This Agreement shall be governed in all respects by the laws of the State of Delaware, without regard to
conflicts of laws principles thereof.

 

4.2
Survival. The terms, conditions and agreements made herein shall survive the Closing.

 

4.3
Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit
of, and be binding upon, the successors, assigns, heirs, executors and administrators of the parties hereto.

 

4.4
Entire Agreement; Amendment; Waiver. This Agreement constitutes the entire and full understanding and agreement between
the parties with regard to the subject matter hereof. Neither this Agreement nor any term hereof may be amended, waived, discharged
or terminated, except by a written instrument signed by all the parties hereto.

 

4.5
Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all
of which together, shall constitute one instrument.

 

[The remainder
of this page has been intentionally left blank.]

 

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IN
WITNESS WHEREOF, the undersigned have hereunto set their hands as of the day and year first above written.

 

	 	 	 	 
	 	 	IRON SANDS CORP.	 
	 	 	 	 
	 	By:	/s/ Samir N. Masri	 
	 	 	 Samir N. Masri	 
	 	 	Chief Executive Officer	 
	 	 	 	 
	 	 	NLBDIT 2010 SERVICES, LLC	 
	 	 	 	 
	 	By:	/s/ Nathan A. Low	 
	 	 	Nathan A. Low	 
	 	 	Family Trustee of Nathan Low 2008 Irrevocable Trust	 

 

4

Exhibit
A

STATEMENT OF
ACCREDITED INVESTOR

 

To:Iron
Sands Corp. (the “Company”)

 

Ladies and Gentlemen:

 

The
undersigned hereby refers to the Securities Purchase Agreement executed and delivered to the Company by the undersigned as of
the date hereof. In connection with the subscription thereunder by the undersigned to purchase securities of the Company, the
undersigned hereby represents and warrants that such individual or entity meets at least one of the tests listed below for an
"accredited investor" (as such term is defined under Regulation D promulgated pursuant to the Securities Act of 1933,
as amended).

 

"Accredited
Investors" are accorded special status under the federal securities laws. Individuals who hold certain positions with an
issuer or its affiliates, or who have certain minimum individual income or certain minimum net worth (each as described below)
may qualify as Accredited Investors. Partnerships, corporations or other entities may qualify as Accredited Investors if they
fulfill certain financial and other standards, or if all of their equity owners have incomes and/or net worth which qualify them
individually as Accredited Investors, and trusts may qualify as Accredited Investors if they meet certain financial and other
tests (as described below).

 

You
may qualify as an Accredited Investor under Regulation D promulgated under the Securities Act of 1933 (the "1933 Act")
if you meet any of the following tests (please check all that apply):

 

	o	The undersigned is an individual
    who is a director or executive officer of the Company.   An “executive officer” is the president, a
    vice president in charge of a principal business unit, division or function (such as sales, administration or finance), any other
    officer who performs a policy making function or any other person who performs similar policy making functions for the Company.
	 	 
	o	The undersigned is an individual that (1)
    had individual income of more than $200,000 in each of the two most recent fiscal years and reasonably expects to have individual
    income in excess of $200,000 in the current year, or (2) had joint income together with the undersigned’s spouse in excess
    of $300,000 in each of the two most recent fiscal years and reasonably expects to have joint income in excess of $300,000 in the
    current year. “Income” means adjusted gross income, as reported for federal income tax purposes, increased by
    the following amounts:  (i) any tax exempt interest income under Section 103 of the Internal Revenue Code (the “Code”)
    received, (ii) any losses claimed as a limited partner in a limited partnership as reported on Schedule E of Form 1040, (iii)
    any deduction claimed for depletion under Section 611 of the Code or (iv) any amount by which income has been reduced in arriving
    at adjusted gross income pursuant to the provisions of Section 1202 of the Code.  In determining personal income, however,
    unrealized capital gains should not be included.
	 	 
	o	The undersigned is an individual with individual
    net worth, or combined net worth together with the undersigned’s spouse, in excess of $1,000,000.  “Net worth”
    means the excess of total assets at fair market value, including home, home furnishings and automobiles (but excluding for these
    purposes the net value, after any mortgage, of any primary residence), over total liabilities.
	 	 
	o	The undersigned is a Trust with total assets
    in excess of $5,000,000,  was not formed for the specific purpose of acquiring securities
    of the Company, and the purchase of the securities is directed by a person with such knowledge and experience in financial and
    business matters that he is capable of evaluating the risks and merits of the prospective investment in such securities.

 

5

 

	 	
	o	The undersigned is a corporation, partnership,
    limited liability company or limited liability partnership that has total assets in excess of $5,000,000 and was not formed
    for the specific purpose of acquiring securities of the Company.
	 	 
	x	The undersigned is an entity in which all
    of its equity owners are “accredited investors”.

 

 

Dated: May 26,
2011

 

	 	Very truly yours,	 
	 	 	 
	 	NLBDIT 2010 Services, LLC	 
	 	Name of Individual #1 or Entity	 
	 	/s/ Nathan Low as family trustee of sole member

    The Nathan Low 2008 Irrevocable Trust	 
	 	Authorized Signature	 
	 	 	 
	 	 	 
	 	Name of Individual #2, if applicable	 
	 	 	 
	 	Authorized Signature	 

 

6Exhibit 4.1

Exhibit
4.1

PROMISSORY
NOTE

 

Dated: June 3,
2011

 

FOR
VALUE RECEIVED, and intending to be legally bound, Putnam Hills  Corp., a Delaware corporation (the “Maker”) with an
address at c/o Samir Masri CPA Firm P.C., 45 North Station Plaza, Suite 214, Great Neck, New York 11021, hereby unconditionally
and irrevocably promises to pay to the order of NLBDIT 2010 Enterprises LLC, a Nevada limited liability company (the “Payee”)
with an address at c/o Sunrise Securities, 641 Lexington Avenue, 25th Floor, New York, NY 10022, in lawful money of
the United States of America, the sum of any and all amounts that the Payee may advance to the Maker or any other third parties
on behalf of the Maker (the “Principal Amount”) on or before the date (the “Maturity Date”) that the Maker
(or a wholly owned subsidiary of the Maker) consummates a business combination with a private company in a reverse merger or reverse
takeover transaction or other transaction after which the company would cease to be a shell company (as defined in Rule 12b-2
under the Securities Exchange Act of 1934, as amended) (“Transaction”). In the event a Transaction is consummated,
the proceeds received by the Maker or a subsidiary of the Maker shall first be used to repay the entire outstanding unpaid Principal
Amount and the accrued unpaid interest on this Note.

 

Interest
shall accrue on the outstanding Principal Amount of this Promissory Note on the basis of a 360-day year from June 3, 2011 until
paid in full at the rate of six percent (6%) per annum, and shall be due and payable on the Maturity Date, or the prepayment date,
if any, whichever is earlier. This Promissory Note may be prepaid in whole or in part at any time or from time to time
prior to the Maturity Date.

 

For
purposes of this Promissory Note, an "Event of Default" shall occur if the Maker shall: (i) fail to pay the entire Principal
Amount of this Promissory Note when due and payable, (ii) admit in writing its inability to pay any of its monetary obligations
under this Promissory Note, (iii) make a general assignment of its assets for the benefit of creditors, or (iv) allow any proceeding
to be instituted by or against it seeking relief from or by creditors, including, without limitation, any bankruptcy proceedings.

 

In the
event that an Event of Default has occurred, the Payee or any other holder of this Promissory Note may, by notice to the Maker,
declare this entire Promissory Note to be forthwith immediately due and payable, without presentment, demand, protest or further
notice of any kind, all of which are hereby expressly waived by the Maker. In the event that an Event of Default consisting of
a voluntary or involuntary bankruptcy filing has occurred, then this entire Promissory Note shall automatically become due and
payable without any notice or other action by Payee. Commencing five days after the occurrence of any Event of Default, the interest
rate on this Note shall accrue at the rate of 18% per annum.

 

The
nonexercise or delay by the Payee or any other holder of this Promissory Note of any of its rights hereunder in any particular
instance shall not constitute a waiver thereof in that or any subsequent instance. No waiver of any right shall be effective unless
in writing signed by the Payee, and no waiver on one or more occasions shall be conclusive as a bar to or waiver of any right
on any other occasion.

 

1

 

Should
any part of the indebtedness evidenced hereby be collected by law or through an attorney-at-law, the Payee or any other holder
of this Promissory Note shall, if permitted by applicable law, be entitled to collect from the Maker all reasonable costs of collection,
including, without limitation, attorneys’ fees.

 

All
notices and other communications must be in writing to the address of the party set forth in the first paragraph hereof and shall
be deemed to have been received when delivered personally (which shall include via an overnight courier service) or, if mailed,
three (3) business days after having been mailed by registered or certified mail, return receipt requested, postage prepaid. The
parties may designate by notice to each other any new address for the purpose of this Promissory Note.

 

Maker
hereby forever waives presentment, demand, presentment for payment, protest, notice of protest, and notice of dishonor of this
Promissory Note and all other demands and notices in connection with the delivery, acceptance, performance and enforcement of
this Promissory Note.

 

This
Promissory Note shall be binding upon the successors and assigns of the Maker, and shall be binding upon, and inure to the benefit
of, the successors and assigns of the Payee.

 

This
Promissory Note shall be governed by and construed in accordance with the internal laws of the State of New York. All disputes
between the Maker and the Payee relating in any way to this Promissory Note shall be resolved only by state and federal courts
located in New York County, New York, and the courts to which an appeal therefrom may be taken.

  

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remainder of this page has been intentionally left blank.]

 

2

 

IN
WITNESS WHEREOF, the undersigned Maker has executed this Promissory Note as of June 3, 2011.

	 	 	 	 
	 	MAKER:	 
	 	 	 	 
	 	PUTNAM HILLS  CORP.	 
	 	 	 	 
	 	By:	/s/ Samir Masri	 
	 	 	Samir Masri	 
	 	 	President	 

 

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