Document:

Exhibit 10.12

 

NOVATION AGREEMENT

 

This Novation (this “Agreement”) is entered into as of September 12, 2013 by and among Sky Solar Holdings Co., Ltd., a company organized under the laws of the Cayman Islands (“SSH”), Sky Power Group Ltd., a company organized under the laws of the Cayman Islands (“SPG”) and the persons whose names and addresses are set forth in Schedule 1 hereto (the “Noteholders”).

 

WHEREAS, pursuant to convertible promissory note purchase agreements by and between the Company and the undersigned dated as of May 30, 2013 (the “Note Purchase Agreements”), SSH issued convertible notes with principal amounts set forth opposite each Noteholder’s name in Schedule 1 (the “Notes”);

 

WHEREAS, SSH, SPG and certain shareholders of SSH intend to enter into a share exchange agreement (the “Share Exchange Agreement”) in the form in Exhibit 1 hereto and effect a restructuring contemplated under such agreement; and

 

WHEREAS, SSH, SPG and the Noteholders desires to effect a novation of the Note Purchase Agreements and the Notes whereby SPG substitutes SSH as a party to the Note Purchase Agreements and issuer of the Notes and SSH is released from its obligations under the Note Purchase Agreements and the Notes;

 

NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties hereto agree as follows:

 

1.                                      Novation and Acceptance.  SSH hereby effects a novation of the Note Purchase Agreements and the Notes to substitute SPG for SSH as party to such the Note Purchase Agreements and issuer of the Notes (the “Novation”), each Noteholder hereby consents to such Novation and hereby releases SSH from all of its duties and obligations under the Note Purchase Agreements and the Notes, and SPG hereby accepts the Novation and hereby releases SSH from all of its duties and obligations under Note Purchase Agreements and the Notes and assumes all rights, duties and obligations of SSH under such documents.

 

2.                                      Corporate Structure after Restructuring.  The corporate structure of the Company, SPG and the subsidiaries of SPG is set forth in Exhibit 2 hereto.  Each of SSH and SPG represents and warrants that, upon Completion, SPG shall own all of the assets and liabilities of SSH, except for the 49% interest in China New Era International Limited, the book value of which is zero.  Each of SSH and SPG acknowledges and agrees that the Noteholders are relying on this representation in consenting to the Novation, and that the accuracy of such representation is a condition of the Novation.

 

3.                                      General

 

(a)                                 Each party hereto agrees to perform any further acts and execute and deliver any document that may be reasonably necessary to carry out the intent of this Agreement.

 

(b)                                 This Agreement shall bind and inure to the benefit of the successors and assigns of the parties hereto.

 

 

(c)                                  This Agreement may be amended at any time by the written agreement and consent of the parties hereto.

 

(d)                                 This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to conflict of law provisions.  The parties hereto hereby submit to the non-exclusive jurisdiction of the courts of Hong Kong Special Administrative Region.

 

(e)                                  This Agreement, including such other agreements referred to herein, constitutes the entire agreement and understanding among the parties pertaining to the subject matter hereof and supersedes any and all prior agreements, whether written or oral, relating thereto.

 

(f)                                   Introductory headings at the beginning of each clause of this Agreement are solely for the convenience of the parties and shall not be deemed to be a limitation upon or description of the contents of any such clause.  The use of the word “including” in this Agreement will be by way of example rather than by limitation.

 

(g)                                  This Agreement may be executed in counterparts, which, when taken together, shall constitute one and the same instrument.

 

[End of the Agreement]

 

[Signature pages, a schedule containing the identities of noteholders and their corresponding note amounts, an exhibit of the share exchange agreement (which has been filed as Exhibit 10.11 to this Registration Statement) and an exhibit of the corporate structure have been omitted. The Company agrees to furnish supplementally a copy of such information to the Commission upon request.]

 

2swsh_ex102.htm

Version 5

Exhibit 10.2

 

AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT

 

This AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT (this “Amendment”) is effective as of June 30, 2014 and amends that certain EMPLOYMENT AGREEMENT by and between Swisher Hygiene, Inc., a Delaware corporation (the “Company”) and Thomas Byrne (“Executive”) entered into as of October 16, 2013.

 

WHEREAS, Company and Executive entered into the Employment Agreement on October 16, 2013, Exhibit A to which set forth certain bonus opportunities pursuant to which Executive could earn a First and Second Bonus as defined in such Exhibit; and

 

WHEREAS, Company and Executive mutually wish to amend Exhibit A to the Employment Agreement, as more fully set forth herein, to reflect changes to the circumstances surrounding the bonus opportunities.

 

NOW THEREFORE, in consideration of the foregoing premises and the agreements contained herein, and certain other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

	
1.  

	
 Deletion of Exhibit A.  Exhibit A, as attached to the Employment Agreement is hereby deleted in its entirety, and replaced as follows:

 

	
2.  

	
New Exhibit A. The parties agree that effective upon execution of this Amendment by both parties, Exhibit A shall now read as follows:

 

EXHIBIT A

 

Executive has assisted the Company in connection with the sale of a portion of the Company’s linen business.  In recognition thereof, the Company shall award Executive a bonus (the “First Bonus”) of $150,000.00 effective June 30, 2014, to be paid to Executive at the time of the Company’s first payroll immediately following June 30, 2014.

 

Executive and Company have decided that Executive’s employment shall terminate at the close of business, June 30, 2014, and thereafter Executive shall be entitled to receive the Severance Amount through September 30, 2015.  In addition, Executive shall be entitled to receive a second bonus (the “Second Bonus”) in the amount of $150,000.00 on the earlier of the closing on the sale of Company assets related to discontinued operations, so long as the proceeds from such sale exceed $6,200,000.00, or September 30, 2015.  For the sake of clarity, the Company shall be under no obligation to classify any business assets as discontinued operations or to sell any such assets so classified, and if it chooses not to, the Second Bonus shall not be payable until September 30, 2015.  During the period Executive is receiving Severance, it is anticipated that he will remain accessible to provide assistance or advice from time to time as requested by the Company’s Chairman or Chief Executive Officer, so long as such assistance or advice does not interfere with Executive’s other business activities.

 

  

  

  

Version 5

 

	
3.  

	
 No Other Changes.  Except as set forth in this Amendment, the Employment Agreement as originally executed shall remain in full force and effect.  In the event of conflict between this Amendment and the Employment Agreement, the terms of this Amendment shall govern.

 

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

 

COMPANY:

SWISHER HYGIENE, INC., a Delaware corporation

By: /s/ Richard L. Handley___________________

Richard L. Handley, Chairman

EXECUTIVE:

/s/ Thomas Byrne__________________________

Thomas Byrne

July 14, 2014swsh_ex103.htm

Version 5

Exhibit 10.3

 

RENEWAL AND AMENDMENT TO EMPLOYMENT AGREEMENT

 

This RENEWAL AND AMENDMENT TO EMPLOYMENT AGREEMENT (this “Renewal Agreement”) is entered into as of August 8, 2014 by and between Swisher Hygiene Inc., a Delaware corporation (the “Company”) and William M. Pierce (“Executive”) and extends and amends that certain Employment Agreement (the “Agreement”) by and between Executive and the Company entered into as of October 16, 2013.

 

W I T N E S S E T H:

 

WHEREAS, Company and Executive entered into the Agreement as of October 16, 2013, with a Commencement Date of September 16, 2013; and

 

WHEREAS, the Term of the Agreement, unless renewed by the parties, expires on September 15, 2014; and

 

WHEREAS, Executive and Company wish to renew the Term of the Agreement and amend the Agreement as set forth herein.

 

NOW THEREFORE, in consideration of the foregoing premises and the agreements contained herein and certain other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

A G R E E M E N T S

 

1. Term Renewal.  The parties agree that the Term of the Agreement shall be renewed and shall continue to the second annual anniversary of the Commencement Date unless earlier terminated as provided herein; subject, however, to further annual renewal upon consent of both parties.

 

2. Base Salary.  The parties agree that Executive’s Base Salary shall remain unchanged at the time of Renewal, but shall be subject to review and adjustment by the Compensation Committee of the Board of Directors of the Company following December 31, 2014.

 

3. Round trip air travel.  In addition to the air travel set forth in Section 3(g) of the Agreement, the Company shall reimburse Executive for the cost of one trip monthly, round trip air travel, for Executive’s spouse to and from Fort Lauderdale, Florida and Charlotte, North Carolina.

 

4. Miscellaneous.  Except as set forth in this Renewal Agreement, all terms and conditions of the Agreement shall remain unchanged.  All capitalized words or phrases, not herein defined, shall have the meaning defined in the Agreement.

 

 

[Signature Page Follows]

 

  

  

  

Version 5

 

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

 

COMPANY:

 

 

SWISHER HYGIENE INC., a Delaware corporation

 

 

By:_/s/ Richard L. Handley__________________

Richard L. Handley

Chairman

EXECUTIVE:

By:_/s/ William M. Pierce____________________

William M. Pierce

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