Document:

ASSIGNMENT OF RIGHTS AND TITLE
AGREEMENT

This Assignment of Rights and Title Agreement is effective
August 1, 2012 and is between the following parties: (a) Global
Ventures Group, LLC, a Florida limited liability company doing
business at 110 North Federal Highway, #807 in Fort Lauderdale,
Florida 33301 ("Global Ventures"); (b) Alfred Abiouness, Sr. with
a mailing address of 4410 East Beach Drive, Norfolk, Virginia
("Abiouness"), (c) RG Development, Inc., a Delaware corporation
doing business at 364 East Main Street, Suite 205 in Middleton,
Delaware 19709 ("RG Development"), and (d) Cotton Bay Holdings,
Inc., a Delaware corporation with a resident agent located at 113
Barksdale Professional Center, Newark, DE 19711 ("Cotton Bay
Holdings")(collectively the "Parties").

WHEREAS, pursuant to the terms of the Master Agreement
(the "Master Agreement") between Global Ventures and Eleuthera
Properties Limited dated on or about May 22, 2012 ("Eleuthera
Properties"), Global Ventures has the right to earn 6,500 shares
of authorized Class A Common Shares of Eleuthera Properties (the
"Eleuthera Stock") in consideration of Global Ventures'
performance of its duties and obligations under the Master
Agreement, including but not limited to, reaching certain
milestones in the development and construction of the resort
property owned by Eleuthera Properties, commonly referred to as
"Cotton Bay".

WHEREAS, Global Ventures has earned 1,250 shares to
Cotton Bay Holdings.

WHEREAS, Global Ventures and RG Development executed a
Reaffirmation of Standard Form of Agreement Between Owner and
Contractor dated March 2, 2012 whereby, among other things, the
parties ratified a prior Standard Form of Agreement Between Owner
and Contractor dated January 15, 2010 (the "AIA Contract"), and
in consideration of RG Development's continued construction on
Cotton Bay, Global Ventures executed a Revolving Promissory Note
with RG Development, and agreed to assume any and all
liabilities, duties and obligations under the AIA Contract
previously held by Global Ventures' predecessor (discussed in
more detail below).

WHEREAS, Global Ventures acknowledges that its earlier
development and construction of Cotton Bay was funded through
financial contributions by Abiouness, and memorialized in a
Revolving Promissory Note dated February 23, 2012 (the "Abiouness
Note"). Global Ventures has granted an Article IX security
interest in its right, title and interest in the Eleuthera Stock
to Abiouness as security for its obligations under the Abiouness
Note (the "Abiouness Lien").

WHEREAS, Global Ventures has acknowledged that its
earlier development and construction of Cotton Bay was made
possible, in part, due to certain construction concessions and
other financially related benefits provided by RG Development.
These concessions and benefits are memorialized in a Revolving
Promissory Note dated February 27, 2012 between Global Ventures
and RG Development (the "RG Note"). Global Ventures has granted
an Article IX security interest in its right, title and interest
in the Eleuthera Stock to RG Development as security for its
obligations under the RG Note (the "RG Lien"). Abiouness and RG
Development agree that the RG Lien is subordinate to the
Abiouness Lien.

WHEREAS, Abiouness and RG Development acknowledge that
Global Ventures' continued development, construction and capital
raising efforts is contingent, in part, in pledging and assigning
their respective security interests to Cotton Bay Holdings
subject to the terms of this Agreement.

WHEREAS, these Recitals are not mere statements, but
rather representations relied upon by all parties in executing
and performing under this Agreement.

NOW, THEREFORE, in consideration of the mutual
covenants and agreements hereinafter set forth and for other good
and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows:

1. CONDITION PRECEDENT TO OBLIGATIONS. The
Parties agree that the following conditions must be satisfied in
whole prior to performance by Global Ventures, Abiouness or RG
Development:

1.1 Global Ventures Conveyance of Title to Eleuthera
Stock. Upon written notification by Cotton Bay Holdings, or
its placement agent, escrow agent or title agent, or similar
party acting as trustee over those funds raised by Cotton Bay
Holdings through private and/or public offerings (collectively
referred to as the "Paying Agent"), that the following events
have occurred:

1.1.1. A Subscription Agreement has been executed by an
Accredited Investor pursuant to the Cotton Bay Holdings Private
Placement Memorandum (the "Cotton Bay Offering") for the purchase
of a minimum of five (5) Secured Convertible Notes of Cotton Bay
Holdings. Each set of five (5) Notes sold pursuant to the Cotton
Bay Offering is collectively referred to herein as a "Block of
Notes" or "Blocks of Note";

1.1.2. The Subscription Agreement has been fully funded;
and

1.1.3. The Paying Agent has released net proceeds from the
sale of a Block of Notes to Global Ventures.

1.2 Representations and Warranties Still Accurate. The
representations and warranties stated by the Parties remain
truthful and accurate during the term of this Agreement.

2. GLOBAL VENTURES CONVEYANCE OF TITLE TO THE ELEUTHERA
STOCK. Upon full satisfaction of the condition precedents set
forth in Section 1, Global Ventures agrees to convey 1 share of
the Eleuthera Stock in its possession to Cotton Bay Holdings
"free and clear," subject only to the rights of Abiouness and RG
Development, which are to be released under Sections 2 and 3,
below, for each Block of Notes sold. For example, in the event
Cotton Bay sells 10 Blocks of Notes, Global Ventures shall convey
title to 10 shares of the Eleuthera Stock to Cotton Bay Holdings,
subject to Sections 2 and 3, below.

3. ABIOUNESS RELEASE OF SECURITY INTEREST. Upon full
satisfaction of the condition precedents set forth in Section 1
and written confirmation of Global Ventures' conveyance of the
Eleuthera Stock, as set forth in Section 2, Abiouness agrees to
release his security interest in the Eleuthera Stock conveyed by
Global Ventures, and take any and all necessary action in
recording a UCC-3 to modify the Abiouness Lien. For example, in
the event Cotton Bay sells 10 Blocks of Notes, Global Ventures
shall convey title to 10 shares of the Eleuthera Stock to Cotton
Bay Holdings, and Abiouness shall record a UCC-3 releasing his
lien interest to the 10 shares being conveyed, subject to Section
4, below.

4. RG DEVELOPMENT RELEASE OF SECURITY INTEREST. Upon
full satisfaction of the condition precedents set forth in
Section 1, written confirmation of Global Ventures' conveyance of
the Eleuthera Stock and Abiouness' release of his security
interest, as set forth in Section 3, above, RG Development agrees
to release its security interest in the Eleuthera Stock conveyed
by Global Ventures, and take any and all necessary action in
recording a UCC-3 to modify the RG Lien. For example, in the
event Cotton Bay sells 10 Blocks of Notes, Global Ventures shall
convey title to 10 shares of the Eleuthera Stock to Cotton Bay
Holdings, and Abiouness and RG Development shall record a UCC-3
releasing their respective lien interests to the 10 shares being
conveyed.

5. GLOBAL VENTURES' NOTE OBLIGATIONS, HOLD HARMLESS AND
INDEMNIFICATION. Global Ventures agrees that nothing in this
Agreement shall constitute a waiver, release, assignment,
delegation or any action excusing Global Ventures' duties and
obligations under the Abiouness Note and RG Note, or the
Abiouness Lien or RG Lien. Global Ventures unconditionally agrees
to hold Cotton Bay Holdings, its shareholders, board of
directors, officers, agents, subsidiaries, employees and any
other entity or individual associated with Cotton Bay Holdings
harmless from any and all obligations under the Abiouness Note
and RG Note, or the Abiouness Lien or RG Lien, and to indemnify
such parties from any and all actual or threatened claims or
damages related to the Abiouness Note and RG Note, or the
Abiouness Lien or RG Lien.

6. REPRESENTATIONS AND WARRANTIES. The parties
represent and warrant:

6.1 Capacity and Authority. Each party has the
requisite power and authority to execute and deliver this
Agreement and to consummate their respective transactions
contemplated hereby, including but not limited to Global
Ventures' right to convey the Eleuthera Stock in the manner and
form set forth in this Agreement. The execution, delivery and
performance of this Agreement has been duly authorized by all
necessary action on the part of the respective parties, and
constitutes a legal, valid and binding obligation of the parties,
enforceable against each party, except as such enforceability may
be limited by: (i) applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting the
enforcement of creditors' rights generally; and (ii) general
principles of equity (regardless of whether such enforceability
is considered in a proceeding in equity or at law).

6.2 Violation of Law or Agreement. The execution,
delivery and performance by each party of this Agreement, and the
consummation of the transactions contemplated hereby, do not and
will not: (a) conflict with or result in a violation or breach
of, or default under, any provision of the certificate of
organization or other organizational documents of either party as
the case may be.

6.3 Consents and Approvals. All consents, approvals or
authorizations of, or registrations, filings or declarations
with, any governmental authority or any other person, or other
action required in connection with the execution, delivery and
performance of this Agreement by either party have been obtained
by that particular party.

6.4 No Undisclosed Liabilities. Other than what has
been disclosed herein, the Eleuthera Stock in Global Ventures'
possession now, or in the future following completion of certain
development and construction benchmarks, have no liabilities,
obligations or commitments of any nature whatsoever, asserted or
unasserted, known or unknown, absolute or contingent, accrued or
unaccrued, matured or unmatured or otherwise.

6.5 Full Disclosure. No representation or warranty by
either party in this Agreement contains any untrue statement of a
material fact, or omits to state a material fact necessary to
make the statements contained therein, in light of the
circumstances in which they are made, not misleading.

6.6 Survival. The representations, warranties and
covenants of each of the parties shall survive during and after
the full performance of the obligations under this Agreement.
Each party may rely on such representations, warranties and
covenants irrespective of any investigation made, or notice or
knowledge held, by it or any other person.

7. MISCELLANEOUS.

7.1. Successors and Assigns. Except as otherwise
provided herein, the terms and conditions of this Agreement shall
inure to the benefit of and be binding upon the respective
successors and assigns of the parties.

7.2 Entire Agreement. This Agreement constitutes the
full and entire understanding and agreement between the parties
hereto with respect to the subject matter hereof and supersedes
all prior agreements, written or oral, with respect thereto.

7.3 Severability. If one or more provisions of this
Agreement are held to be unenforceable under applicable Law, such
provision shall be excluded from this Agreement and the balance
of the Agreement shall be interpreted as if such provision were
so excluded and shall be enforceable in accordance with its
terms.

7.4 Waiver and Amendments; Non-Contractual Remedies;
Preservation of Remedies. This Agreement may be amended,
superseded, cancelled, renewed or extended, and the terms hereof
may be waived, only by a written instrument signed by all of the
parties hereto or, in the case of a waiver, by the party waiving
compliance. No delay on the part of any party in exercising any
right, power or privilege hereunder shall operate as a waiver
thereof, nor shall any waiver on the part of such party of any
such right, power or privilege, or any single or partial exercise
of any such right, power or privilege, preclude any further
exercise thereof or the exercise of any other such right, power
or privilege.

7.5 Notices. All notices, requests, consents, claims,
demands, waivers and other communications hereunder shall be in
writing and shall be deemed to have been given (a) when delivered
by hand (with written confirmation of receipt); (b) when received
by the addressee if sent by a nationally recognized overnight
courier (receipt requested); (c) on the date sent by facsimile or
e-mail of a PDF document (with confirmation of transmission) if
sent during normal business hours of the recipient, and on the
next Business Day if sent after normal business hours of the
recipient or (d) on the [third] day after the date mailed, by
certified or registered mail, return receipt requested, postage
prepaid. Such communications must be sent to the respective
parties at the addresses set forth in the introductory
paragraph.

7.6 Governing Law. This Agreement shall be governed by
and construed under the laws of the State of Delaware without
regard to choice of law principles.

7.7 Further Assurances. Each party shall, at the
request of another party, at any time and from time to time
following the Closing promptly execute and deliver, or cause to
be executed and delivered, all such further instruments and take
all such further action as each party may reasonably request to
confirm or carry out the provisions and intent of this
Agreement.

7.8 Counterparts; Facsimile. This Agreement may be
executed in counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the
same instrument. Signatures to this Agreement may be transmitted
by facsimile and signatures so transmitted will be deemed to be
original signatures.

7.9 Construction. The Parties have participated jointly
in the negotiation and drafting of this Agreement. If an
ambiguity or question of intent or interpretation arises, this
Agreement shall be construed as if drafted jointly by the Parties
and no presumption or burden of proof shall arise favoring or
disfavoring any Party by virtue of the authorship of any of the
provisions of this Agreement.

IN WITNESS WHEREOF, the parties have executed this Agreement
as of the date first above written.

Global Ventures Group, LLC

/s/ Robert Fortson IV

A&F Bahamas, LLC

Member

Cotton Bay Holdings, Inc.

/s/Alfred E. Abiouness, Jr.

Alfred E. Abiouness, Jr.

President

RG Development, Inc.

/s/Douglas Maslo

Douglas Maslo

President

/s/Alfred Abiouness, Sr.

Alfred Abiouness, Sr.ex10_1.htm

Exhibit 10.1

 

FIRST AMENDMENT TO THIRD PARTY ADMINISTRATION CONTRACT

This First Amendment to the Third Party Administration Contract (this “Amendment”) is entered into as of May 10, 2012, by and between Administración de Seguros de Salud de Puerto Rico (“ASES”) and Triple-S Salud, Inc. (the “Contractor”). All capitalized terms used herein and not otherwise defined shall have the meanings ascribed to such terms in the Contract (as hereinafter defined).

WHEREAS, ASES and the Contractor entered into the Contract to Administer the Provision of the Physical Health Component of the MiSalud Program in Designated Service Regions dated as of October 17, 2011 (the “Contract”); and

WHEREAS, ASES and the Contractor have agreed to amend the Contract in accordance with Article 54 thereof, to address CMS requirements and clarify certain contractual provisions;

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

	
  

	
1.

	
Section 5.2.3.3 of the Contract is hereby amended to read in its entirety as follows:

	
  

	
“5.2.3.3

	
The notice of Enrollment that the Contractor issues pursuant to Section 5.2.3.2 of this Contract will clearly state the Effective Date of Enrollment.  The notice of Enrollment will explain that the Enrollee is entitled to both physical health services through the MiSalud Plan and behavioral services through the MBHO.  The notice will inform the Enrollee of his or her limited right to disenroll, per Section 5.4.3 of this Contract, and will explain that the Enrollee has separate Disenrollment rights with respect to the physical health services in the Plan and with respect to the behavioral services in the MiSalud Program.  The notice of Enrollment shall inform the Enrollee that exercising the right to disenroll means losing access to services under MiSalud.  The notice shall advise the Enrollee of the Enrollee’s right to select a different PCP or to change PMGs, as described in Section 5.3 of this Contract, and will encourage the Enrollee to pursue this option, rather than Disenrollment, if he or she is dissatisfied with care or services.”

 

	
  

	
2.

	
Section 7.5.4.1.5 of the Contract is hereby amended to read in its entirety as follows:

	
  

	
“7.5.4.1.5

	
[Intentionally left blank];”

	
  

	
3.

	
Section 7.5.4.1.8 of the Contract is hereby amended to read in its entirety as follows:

	
  

	
“7.5.4.1.8

	
Electroencephalograms (provided, that Prior Authorization shall be required for serial electroencephalograms); and”

 

  

  

  

 

	
  

	
4.

	
Section 7.5.5.1.2 of the Contract is hereby amended to read in its entirety as follows:

	
  

	
“7.5.5.1.2

	
Physical therapy (maximum of fifteen sessions per Enrollee condition per year, when indicated by an orthopedist or physiatrist; provided that such limitation shall not apply to Enrollees diagnosed with autism);”

	
  

	
5.

	
Section 7.5.6.1.10 of the Contract is hereby amended to read in its entirety as follows:

	
  

	
“7.5.6.1.10

	
Surgery (provided, that all breast reconstruction surgery and surgical procedures to treat morbid obesity shall require Prior Authorization to determine whether they meet the requirements of Section 7.5.6.2 of this Contract);”

	
  

	
6.

	
Section 7.5.6.1.15 of the Contract is hereby amended to read in its entirety as follows:

	
  

	
“7.5.6.1.15

	
Prosthetics, including supply of all body extremities and therapeutic ocular prosthetics; provided that segmental instrument tray and spine fusion in scoliosis and vertebral surgery shall require Prior Authorization;”

	
  

	
7.

	
Section 9.5.1.4 of the Contract is hereby amended to read in its entirety as follows:

	
  

	
“9.5.1.4

	
The Parties will jointly develop strategies, policies and procedures to ensure Enrollees have Access to specialty services as necessary.”

	
  

	
8.

	
Section 10.6.3 of the Contract is hereby amended to read in its entirety as follows:

	
  

	
“10.6.3”

	
The risk associated with Emergency Services provided in Puerto Rico that relate to Basic Coverage Services shall be borne by the PMG.  The risk associated with all other Emergency Services that are covered under this Contract, including Emergency Services received outside of Puerto Rico, shall be borne by ASES.

 

	
  

	
9.

	
Section 11.3.7.1 of the Contract is hereby amended to read in its entirety as follows:

	
  

	
“11.3.7.1

	
Except as provided in Section 7.5 of this Contract, neither Prior Authorization nor Referral shall be required for any service category of Basic Coverage other than Pharmacy and Behavioral Health Services, or for Dental Services, so long as the service is provided within the PPN.”

  

2

  

	
  

	
10.

	
References to section 34.1.3.4 of the Contract in sections 54.2, 37.2.2 and 37.2.6 of the Contract shall be replaced with references to Section 34.2.1.4.  Such references to section 34.2.1.4 shall be deemed to have been in effect as of the Execution Date.

	
  

	
11.

	
Ratification; Effective Date; Indemnity. ASES and the Contractor each hereby ratify and confirm that (i) this Amendment is incorporated by reference and forms an integral part of the Agreement, and (ii) all of the terms and conditions of the Agreement, as modified by this Amendment, remain in full force and effect and constitute the valid and binding obligation of such party.  Unless a provision contained in this Amendment specifically indicates a different effective date, this Amendment shall be retroactively effective to November 1, 2011; provided, that the Contractor shall be indemnified and held harmless by ASES for any claim resulting from the retroactive application of this Amendment.

	
  

	
12.

	
Miscellaneous. This Amendment is intended to take effect as an agreement under seal and shall be construed according to and governed by the laws of the Commonwealth of Puerto Rico.  This Amendment may be executed in any number of counterparts, each of which shall be deemed an original but which together shall constitute one, and the same instrument.

IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed as of the day and year first above written.

	  	
Administración de Seguros de Salud de Puerto Rico

	  	  
	  	  
	  	
Frank Díaz Ginés

	  	
Executive Director

	  	  
	  	
Triple-S Salud, Inc.

	  	  
	  	
/s/ Socorro Rivas

	  	
Socorro Rivas Rodríguez

	  	
President and Chief Executive Officer

 

 

3

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