Document:

btfl_ex1026.htm

  

EXHIBIT 10.26

Monarch America, Inc. 

 

July 30, 2015

 

Kevin Malone 

 

	
Re:
	
 
	
Employment Terms

 

Dear Kevin: 

 

This letter shall memorialize your compensation as Vice President Corporate Finance of Monarch America, Inc., a Nevada corporation (the "Company").The Company is also appointing you as a director. We thank you for your continued support and all your efforts on behalf of the Company.

 

For each month you remain with the Company as Vice President, you will be entitled to $3,000 in cash.

 

We will also pay you for traveling expenses in connection with your duties to the Company; any travel expense in excess of $100 requires the written approval of the President of the Company. All reimbursement will be made against original receipts and otherwise in accordance with the Company's general expense reimbursement policies and procedures.  

 

You should be aware that your position with the Company constitutes "at-will" employment. This means that your relationship with the Company may be terminated at any time, with or without cause. You understand and agree that neither your job performance nor promotions, commendations, bonuses or the like from the Company give rise to or in any way serve as the basis for modification, amendment, or extension, by implication or otherwise, of the terms of your employment with the Company. If you decide that you no longer desire to remain employed by the Company, we hope you will provide us with no less than 30 days' prior written notice of your decision. 

 

You agree that, during the term of your employment with the Company, you will not engage in any other employment, occupation, consulting or other business activity directly or indirectly related to the business in which the Company is now involved or becomes involved during the term of your employment, nor will you engage in any other activities that conflict with your obligations to the Company. Specifically, but not to limit the foregoing, you are not to, directly or indirectly, whether alone or as a partner, principal, agent, employee, consultant, proprietor, director, officer, employee, member, joint venture, creditor, shareholder, owner, manager or otherwise, be employed by, act as a consultant to or be an owner or participate in the ownership, management, operation or control of any company involved directly or indirectly with cannabis or any cannabis related product. 

 

As a Company employee, you will be expected to abide by all federal or state laws and in accordance of normal industry practices, subject to all parties' acknowledgment that federal law currently purports to prohibit the manufacture, growing, sale, possession, and distribution of marijuana. You also agree to maintain the confidentiality of all confidential and proprietary information of the Company.  

 

You agree that any dispute or claim relating to or arising out of our employment relationship shall be fully and finally resolved by binding arbitration conducted by the American Arbitration Association in the State of Colorado. However, we agree that this arbitration provision shall not apply to disputes or claims relating to or arising out of the misuse or misappropriation of the Company's trade secrets or proprietary information or the breach or threatened breach of the non-compete provision contained above.  

 

	 
	1

	

	 

 

 

This letter represents the entire agreement and understanding between you and the Company concerning your relationship with the Company and supersedes in its entirety all prior agreements and understandings concerning your relationship with the Company, whether written or oral.  

 

In accepting this offer, you represent and warrant to us that (a) you are not a party to any employment agreement or other contract or arrangement which prohibits your employment with the Company, (b) you do not know of any conflict which would restrict your employment with the Company, and (c) you do not have and will not bring with you to your employment with the Company any document, record or other confidential information belonging to a former employer. Each of these representations and warranties is a material inducement to the making of this offer and a condition to your continued employment, and you agree that a termination of your employment by the Company in the event of a breach of any of them would be with cause and not subject to an opportunity to cure.  

 

The terms of this letter may only be amended, canceled or discharged in writing signed by you and an authorized director or officer of the Company. As this letter relates to employment to be performed for a company with headquarters in the State of Colorado, this letter shall be governed by the internal substantive laws, but not the choice of law rules, of the State of Colorado. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable, or void, this letter shall continue in full force and effect without such provision, as though the offending provision had been stricken in the most narrow manner possible. 

 

[Signature Page to Follow]

 

	 
	2

	

	 

 

To indicate your acceptance of the Company's offer, please sign and date this letter in the space provided below and return it to me. A duplicate original is enclosed for your records. This letter will expire if not accepted and returned by you on or before July 31, 2015. 

 

	
 
	
Sincerely, 

	
 
	
  

Monarch America, Inc. 

	
By:
	
  

 /s/ Eric Hagen

		President and CEO

 

 

ACCEPTED and AGREED TO this 

 

30th day of July 2015  

 

/s/ Kevin Malone

Kevin Malone

 

 

3EX-4.4

 Exhibit 4.4 

AMENDMENT NO. 3 TO 

AMENDED AND RESTATED 

SHAREHOLDERS RIGHTS AGREEMENT 

This Amendment No. 3, dated July 30, 2015 (this “Amendment No. 3”), to the Amended and Restated Shareholders
Rights Agreement, dated April 19, 2011, as amended by Amendment No. 1, dated January 27, 2012, and Amendment No. 2, dated December 27, 2012 (collectively, the “Rights Agreement”), is entered into by and
between Seaspan Corporation, a Marshall Islands corporation (the “Corporation”), and American Stock Transfer & Trust Company, LLC, as Rights Agent (the “Rights Agent”). Capitalized terms used in this
Amendment No. 3 that are not otherwise herein defined shall have the same meaning as set forth in the Rights Agreement. 
 RECITALS

 A. The Corporation would like to extend the final expiration date of the Rights Agreement. 

B. Pursuant to Section 27 of the Rights Agreement, prior to a Distribution Date, the Corporation may supplement or amend the Rights
Agreement in any respect without the approval of any holders of Rights and the Rights Agent shall, if the Corporation so directs, execute such supplement or amendment. 

C. The Corporation now desires to amend the Rights Agreement as set forth herein. 

AGREEMENT 
 In
consideration of the foregoing and acting pursuant to the power and authority granted to the Corporation under Section 27 of Rights Agreement, the Corporation hereby amends the Rights Agreement as follows: 

1. Certain Definitions. 

(a) The definition of “Final Expiration Date” as set forth in Section 1 of the Rights Agreement is hereby
deleted and replaced with the following: 
 “Final Expiration Date” shall mean November 6, 2015. 

2. Exhibit B – Form of Rights Certificate. 

(a) The first sentence of the introductory paragraph of Exhibit B of the Rights Agreement is hereby deleted and replaced with
the following: 
 Not exercisable after November 6, 2015 or earlier if redemption or exchange occurs.  

(b) The first sentence of the first paragraph following the introductory paragraphs of Exhibit B of the Rights Agreement is
hereby deleted and replaced with the following: 
 This certificate certifies
that                    , or registered assigns, is the registered owner of the number of Rights set forth above, each of which entitles the owner
thereof, subject to the terms, provisions and conditions of the Amended and Restated Rights Agreement, dated as of April 19, 2011, as amended from time to time (the “Rights Agreement”), between Seaspan Corporation, a Marshall Island
corporation (the “Company”), and American Stock Transfer & Trust Company, LLC (the “Rights Agent”), unless the Rights evidenced hereby have been previously redeemed by the Company, to purchase from the Company at any
time after the Distribution Date (as such term is defined in the Rights Agreement) and before 5:00 p.m., New York, New York time, on November 6, 2015 at the office of the Rights Agent, or at the office of its successor as Rights Agent, one
one-thousandth (1/1000) of a fully paid, nonassessable share of Series R Participating Preferred Stock, $0.01 par value (the “Preferred Shares”), of the Company, at a purchase price of $25.00 per one one-thousandth (1/1000) of a
Preferred Share (the “Purchase Price”), upon presentation and surrender of this Rights Certificate with the Form of Election to Purchase duly executed.

 3. Exhibit C – Summary of Rights. 

(a) The “Expiration of Rights” paragraph as set forth in Exhibit C of the Rights Agreement is hereby deleted and
replaced with the following: 
  

			
	 Expiration of Rights:
	  	The rights expire on the earliest of November 6, 2015 and the exchange or redemption of the rights as described above.

 4. No Other Changes. Except as expressly provided herein, the Rights Agreement is not amended,
supplemented, modified, revised or otherwise affected by this Amendment No. 3, and the Rights Agreement and the rights and obligations of the parties thereunder are hereby ratified and confirmed in all respects. 

5. Governing Law. This Amendment No. 3 shall be deemed to be a contract made under the laws of New York and for all purposes
shall be governed by and construed in accordance with the laws of such jurisdiction applicable to contracts to be made and performed entirely within such jurisdiction. 

6. Counterparts. This Amendment No. 3 may be executed in any number of counterparts and each of such counterparts shall for
all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 

7. Descriptive Headings. Descriptive headings of the several Sections of this Amendment No. 3 are inserted for convenience
only and shall not control or affect the meaning or construction of any of the provisions hereof. 
 [Signature page follows] 

  
 - 2 - 

 IN WITNESS WHEREOF, the parties have executed this Amendment No. 3 as of the date first
written above. 
  

					
	SEASPAN CORPORATION
		
	By:	 	 /s/ Mark W. Chu

		 	Name:	 	Mark W. Chu
		 	Title:	 	Secretary
	
	 AMERICAN STOCK TRANSFER &

TRUST COMPANY, LLC

		
	By:	 	 /s/ John Buonomo

		 	Name:	 	John Buonomo
		 	Title:	 	SVP

 [Signature page to Amendment No. 3 to Amended and Restated Shareholders Rights Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00247-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00247-of-00352.parquet"}]]