Document:

Ex 10.1

 Exhibit 10.1 
 AGREEMENT OF PURCHASE AND SALE 
 This Agreement of Purchase and Sale
(“Agreement”) is entered into this 19th day of March, 2012, between ATHENS NEWSPAPERS, LLC, a Georgia limited liability company (“Seller”), and HAGEN CREEK PROPERTIES, INC., a Georgia corporation
(“Buyer”). 
 ARTICLE I 
 AGREEMENT OF PURCHASE AND SALE 
 Upon the terms and conditions hereinafter
stated, Seller agrees to sell, transfer and assign to Buyer, and Buyer agrees to purchase and accept from Seller on and subject to the terms and conditions set forth in this Agreement, the tract of land containing approximately 3.129 acres with a
building located thereon having an address of One Press Place, Athens, Georgia and more particularly described on Exhibit “A” attached hereto, and all improvements, fixtures, warranties, permits, rights and appurtenances pertaining
thereto (all of which will be hereinafter collectively referred to as the “Real Property”). 
 ARTICLE II 

PURCHASE PRICE 
 2.1 Purchase Price. The purchase price (“Purchase Price”) to be paid by Buyer to Seller for the Real Property shall be Thirteen Million Two Hundred Thirty Thousand and No/100 DOLLARS
($13,230,000.00), payable in cash at Closing. 
 2.2 Initial Deposit. As a condition precedent to the enforceability
of this Agreement, within five (5) Business Days (as hereinafter defined) after the date of this Agreement, Buyer shall deliver a deposit in the amount of ONE HUNDRED THOUSAND AND NO/100 DOLLARS ($100,000.00) (the “Deposit”) to
Fortson, Bentley and Griffin, P.A. (“Escrow Agent”). Any waiver of this requirement must be made in writing, signed by Seller. The Deposit shall thereafter be held by Escrow Agent in accordance with Article X of this Agreement to be
applied or disposed of as herein provided. If the purchase and sale hereunder is consummated in accordance with the terms and provisions hereof, the Deposit shall be credited against the Purchase Price at the Closing. In all other events, the
Deposit shall be disbursed as herein provided. 
 2.3 Payment of Purchase Price. The Purchase Price shall be payable at
Closing in cash or wired funds to Seller. 
 ARTICLE III 
 REPRESENTATIONS, WARRANTIES AND COVENANTS 
 3.1 Seller’s
Representations, Warranties and Covenants. In order to induce Buyer to enter into this Agreement, Seller represents and warrants to Buyer that as of the date of this Agreement and the Closing Date: 

(a) Seller is a liability company duly formed, validly existing and in good standing under the laws of the state of its organization as
set forth in the opening paragraph of this Agreement, and has all requisite right, power and authority to execute, deliver and perform this Agreement; 
 (b) This Agreement has been duly authorized for execution, delivery and performance by Seller, has been duly executed and delivered by Seller, and constitutes the valid and binding agreement of Seller,
enforceable against Seller in accordance with its terms; 

 (c) There is no pending or threatened litigation, condemnation or similar proceeding
affecting the Real Property or any part thereof, nor to the best knowledge and belief of Seller is any such proceeding or assessment contemplated; 
 (d) There are no unpaid charges, costs, or expenses for improvements in, on, or upon the Real Property which might form the basis for a claim for or affixation of any type of mechanics,
materialman’s, laborer’s, artisan’s, or other statutory lien; 
 (e) There are no parties in possession of any
portion of the Real Property as lessees, tenants at sufferance, licensees, or trespassers and no person or entity has any right or option to lease, purchase, occupy, or possess all or any part of the Real Property or any interest therein;

 (f) Seller is not a “foreign person” within the meaning of Section 1445 of the Internal Revenue Code; and

 (g) To the knowledge of Seller, the Real Property does not contain any hazardous wastes, hazardous substances or materials,
toxic materials, or the like, as defined or designated in any federal, state, or local law or environmental statute, regulation, or ordinance, including asbestos, nor does the Real Property contain any environmental hazard under any local, state, or
federal laws or regulations applicable to the Real Property. An environmental issue was identified in connection with petroleum originating from a neighboring property affecting the Real Property in 1991. Environmental cleanup work was conducted by
Seller and in 2004 Seller received a “No Further Action Required” letter from the Georgia EPD. Except for that cleanup work, to the knowledge of Seller, the Real Property has been operated in compliance with all environmental protection,
pollution and land use laws, regulations, and ordinances, whether federal, state, or local. Seller has received no formal or informal inquiry from any person or entity relating to off-site transport, storage, treatment, disposal or the existence of
any solid waste, hazardous waste, or hazardous substance in any way relating to the Real Property which has not been resolved. 

3.2 Survival. The representations, warranties and covenants of Section 3.1 shall survive the Closing for a period of two
years. 
 3.3 As Is, Where Is. Notwithstanding any provision to the contrary, Buyer shall purchase the Real Property
“As Is, Where Is” without warranties related to the condition of the Real Property or its fitness for a particular use. The Deed to be delivered by Seller to Buyer pursuant to Section 5.2(a)(i) shall recite that the Real Property is
being conveyed to Buyer in its “AS IS WHERE IS” condition without warranties relating to the condition of the Real Property or its fitness for a particular use. 
 ARTICLE IV 
 INSPECTION, TITLE AND SURVEY 

4.1 Right to Inspect. Seller has previously provided to Buyer copies of all title insurance policies, surveys, environmental
reports, physical inspection reports, construction plans, warranties and permits in Seller’s possession with respect to the Real Property (the “Due Diligence Materials”). Within five (5) days from the date of this Agreement,
Seller agrees to provide Buyer with any new Due Diligence Materials that Seller may have obtained or acquired, if any, from and after the date of Seller’s original delivery of the Due Diligence Materials to Buyer. Buyer may terminate this
Agreement and receive an immediate refund of the Deposit if, within sixty (60) days after the date of this Agreement (“Buyer’s Review Period”), Buyer elects to terminate this Agreement, for any reason or for no reason. In such
event, 

 
Escrow Agent shall immediately return the Deposit to Buyer, less $100 paid to Seller as consideration for this Agreement, and neither party shall have further obligations to the other. Buyer may
determine, in its sole and absolute discretion, for any reason or for no reason that the Real Property is suitable for Buyer’s intended use. Buyer shall be deemed to have waived its rights to terminate the Agreement pursuant to this section if
Buyer fails to deliver such termination notice to Seller prior to the expiration of Buyer’s Review Period. In the event Buyer fails to terminate this Agreement on or before the expiration of the Buyer’s Review Period as hereinabove
provided, (1) the Earnest Money paid to date shall be non-refundable and become the property of Seller, except in the event of a default by Seller hereunder, and (2) Buyer shall, within three (3) Business Days thereafter, deposit an
additional sum of $250,000.00 with Escrow Agent as additional earnest money for a total Deposit of $350,000.00, which total Deposit shall be non-refundable and become the property of Seller, except in the event of a default by Seller hereunder.
Notwithstanding the preceding, in the event a material change to the Real Property’s condition first arises after the date of this Agreement but prior to closing, such that Buyer’s purposes for use of the Property are reasonably
frustrated, (whether such change relates to the title to the Real Property or the Real Property’s physical or environmental condition), Buyer shall have the right to elect to (i) terminate this Agreement and obtain a full refund of the
Deposit, or (ii) accept the Real Property in its changed condition (and receive any insurance or condemnation proceeds with respect to such change, or other claim with respect to such change, if any) and proceed to closing in accordance with
this Agreement. 
 4.2 Buyer’s Access to Property. During the Buyer’s Review Period, Seller agrees to permit
Buyer’s agents reasonable access to the Real Property for the purposes of conducting engineering and feasibility studies and tests, provided that such studies and tests do not result in any material damage to the present character or topography
of the Real Property. Buyer may conduct a Phase I Environmental Site Assessment and, if deemed necessary by Buyer, a Phase II investigation in accordance with current real estate transactional industry standards. Buyer shall not disclose the
findings or provide a copy of any Phase I or Phase II investigation or any other environmental site assessment or analysis of the Real Property to the Seller, Seller’s employees or agents, or any third party, including governmental agencies or
representatives, unless such disclosure is required by law or specifically requested in writing by Seller. Buyer agrees to indemnify, defend and hold harmless Seller from any liens, claims, loss, damages, injury to persons or damage to Real
Property, including improvements, located on the Real Property, and attorneys’ fees arising from Buyer’s inspections, testing and exercise of its right of access to the Real Property. Buyer will restore the Real Property to the same
condition after its inspections or testing has been completed as it was prior to said inspections/testing. 
 Buyer agrees that
any person or company conducting inspections on the Real Property shall have comprehensive liability insurance with a company and in an amount satisfactory to the Seller naming Seller as an additional insured and providing a copy of the endorsement
to Seller so stating. 
 4.3 Survey. Within thirty (30) days after the date of this Agreement, Buyer may, at
Buyer’s sole cost and expense, cause to be prepared a current plat of survey (“Survey”) of the Real Property, prepared by a duly licensed Georgia land surveyor. 
 4.4 Commitment. Within thirty (30) days after the date of this Agreement, Buyer shall, at Buyer’s sole cost and expense, obtain and provide a copy to Seller of a Commitment for
Owner’s Title Policy (“Commitment”) issued by the a title company of Buyer’s choosing setting forth the state of title to the Real Property and all exceptions, including easements, restrictions, rights-of-way, covenants,
reservations, and other conditions, if any, affecting the Real Property which would appear in an Owner’s Title Policy, if issued. At Closing Seller shall pay and release all amounts secured by mortgages, security deeds, or other liens on the
Real Property (“Monetary Liens”). 

 4.5 Survey and Commitment; Seller’s Obligation to Cure Buyer’s Objections.
In the event any matters appear in such Commitment or Survey that are unacceptable to Buyer, then Buyer shall, within ten (10) days after Buyer’s receipt of the last of such Survey or Commitment notify Seller in writing of such fact. Buyer
shall include in such notification to Seller a copy of the Survey and Commitment, together with copies of the title documents pertinent to Buyer’s objection. Seller may, at its option, eliminate or modify such unacceptable exceptions to the
reasonable satisfaction of Buyer. If Seller is unable or unwilling to cure such objections within ten (10) days after Seller’s receipt of Buyer’s objections, Buyer shall, within ten (10) days of such deadline, either:
(a) terminate this Agreement by notice in writing to Seller and receive an immediate refund of the Deposit if such termination is within the Buyer’s Review Period; (b) accept such title as Seller can deliver; or (c) extend the
time for Seller to cure such objections in writing. Any exceptions to title (excluding Monetary Liens) to which Buyer does not object within such Ten (10) day period or to which Buyer objects but are uncured by Seller shall be deemed to be
“Permitted Exceptions” should Buyer proceed with the Closing. 
 ARTICLE V 

CLOSING 

5.1 Date and Place of Closing. The Closing (herein so called) shall take place at the offices of Buyer’s counsel at a time
specified by Buyer with notice thereof being given to Seller at least ten (10) days in advance. If the Buyer fails to notify Seller of the time, then the Closing shall occur at 2:00 p.m. on the date which is thirty (30) calendar days
following expiration of Buyer’s Review Period or such other day as Buyer and Seller may mutually agree. In the event such day is a Saturday, Sunday or federal holiday, the Closing shall occur on the first preceding day that is not a
Saturday, Sunday or federal holiday. Buyer agrees that Seller may close by delivering its closing documents by overnight delivery. 
 5.2 Items to be Delivered at the Closing. 
 (a) By Seller. At
Closing, Seller shall deliver to Buyer, at Seller’s sole cost and expense, each of the following items: 
 (i) A limited
warranty deed (“Deed”), warranting title from claims made by, through or under Seller, duly executed and acknowledged by Seller, and in form for recording, conveying good and marketable fee simple title to the Real Property to Buyer,
subject only to the Permitted Exceptions. 
 (ii) Evidence reasonably satisfactory to Buyer’s title company and Buyer of
Seller’s authority to consummate this transaction. 
 (iii) Affidavits and gap indemnity reasonably required by
Buyer’s title company in order to remove all standard exceptions from the Commitment. 
 (iv) State tax withholding
affidavit, deed tax affidavit, a certificate stating that it is not a “foreign person” within the meaning of Section 1445 of the Internal Revenue Code, and otherwise complying regulations thereunder, and any clearance letters required
by state taxing authorities necessary to obtain clear and marketable title to the Real Property. 
 (v) A bill of sale and
assignment with respect to all portions of the Real Property consisting of personal and intangible property, warranties and permits. 
 (vi) Satisfactions or releases with respect to all Monetary Liens. 
 (vii) A
closing statement. 

 (b) By Buyer. At the Closing, Buyer shall deliver to Seller each of the following
items: 
 (i) The Purchase Price in the form of cash or wired funds. 

(ii) A closing statement. 
 5.3 Possession. Possession of the Real Property shall be delivered to Buyer by Seller at Closing, subject only to the Permitted Exceptions. 

ARTICLE VI 

PRORATIONS AND CLOSING COSTS 
 Seller and Buyer shall each pay their respective attorney’s fees. Buyer shall pay the recording fees for the deed and the cost of the Commitment and Survey. Seller shall pay the recording fees for
the release of any Monetary Liens, the cost of preparing the deed, and the deed transfer tax. Real Estate taxes for the then current year shall be prorated at the Closing Date effective as of the Closing Date, based on the most recent tax bills. If
the final tax rate or assessment for the year of closing for the Real Property is different than that upon which the proration at closing was made, Seller and Buyer agree to adjust the proration at such time as the actual taxes for the Real Property
are known. Seller shall be solely responsible for any taxes and assessments attributable to the Real Property for any period prior to the Closing Date, including the estimated amount of any roll-back taxes that may be assessed against the Real
Property. The agreements in this paragraph shall survive the Closing. 
 ARTICLE VII 

TERMINATION; DEFAULTS AND REMEDIES 
 7.1 Seller’s Default. In the event that Seller shall fail to perform any of Seller’s obligations hereunder within the time for or in the manner of performance herein provided following
the expiration of any applicable grace or cure period, Buyer shall have the right to elect one of the following: (i) terminate this Agreement in which event the Deposit, together with any interest accrued thereon, shall be refunded to Buyer;
(ii) waive such default and close under this Agreement; or (iii) seek the specific performance of this Agreement in which event Seller shall pay any and all fees, expenses, costs and reasonable attorney’s fees incurred by Buyer in
pursuit of specific performance. 
 7.2 Buyer’s Default. In the event that Buyer shall fail to perform any of
Buyer’s obligations hereunder following the expiration of any applicable grace or cure period, Seller may terminate this Agreement in which event the Deposit shall be paid to Seller as Seller’s sole remedy for Buyer’s default. Such
amount is agreed upon by and between Seller and Buyer as liquidated damages, due to the difficulty and inconvenience of ascertaining and measuring actual damages, and the uncertainty thereof and the payment of the Deposit shall constitute full
satisfaction of Buyer’s obligations under this Agreement. Such amount is agreed upon by and between Seller and Buyer as a reasonable estimate of just compensation for the harm caused by Buyer’s default. Seller and Buyer expressly agree
that Buyer shall be entitled to specific performance hereof, although Seller has waived such right of specific performance hereof against Buyer. 

 ARTICLE VIII 
 RISK OF LOSS 
 Seller shall bear all risk of loss, damage or taking of the
Real Property which may occur prior to Closing, as described in this Article. In the event that, prior to the Closing Date, all or any portion of the Real Property is damaged or destroyed to any extent by fire, earthquake, flood or other cause or
casualty or shall have been affected by condemnation or taking by eminent domain, or shall be the subject of any condemnation proceeding of which Seller shall have received actual or constructive notice, or shall be sold by Seller in lieu thereof,
Buyer shall have the option, but not the obligation, to accept the Real Property, or such title thereto as Seller can convey, in such condition as the Real Property or title may then be, with no reduction in the Purchase Price, but together with the
right to receive the proceeds of any insurance or condemnation award or sale in lieu of such condemnation proceeding which shall have been or shall be made in connection with such damage, destruction, condemnation or taking, as the case may be. Such
option must be exercised by Buyer by written notice to Seller within a reasonable time but in no event later than Fifteen (15) days following receipt by Buyer of written notice from Seller of such damage, destruction, condemnation or taking,
and if such option is not so exercised, this Agreement shall thereafter terminate. In the event of termination of this Agreement pursuant to this Section, the Deposit shall be promptly returned to Buyer and both parties shall be relieved of all
obligations hereunder which do not expressly survive termination of this Agreement. 
 ARTICLE IX 

MISCELLANEOUS PROVISIONS 
 9.1 Broker’s Commission. Commission to be paid in connection with this transaction has been negotiated between Seller and Nichols Land & Investment Co. (the “Broker”) and
shall be paid by Seller pursuant to a separate agreement between Broker and Seller. Seller and Buyer each represent and warrant to the other that there are no claims for broker’s commissions or finder’s fees in connection with the
execution and delivery of this Agreement or otherwise with respect to the Real Property other than set forth above. Seller and Buyer each agree to indemnify the other against and hold each party harmless from all liabilities arising from a breach of
the representation and warranty made by such party herein, including without limitation, attorney’s fees and related court costs. 
 9.2 Notices. Any notice, approval, waiver, objection or other communication (for convenience, “notice”) required or permitted to be given hereunder or given in regard to this Agreement by
one party to the other shall be in writing and the same shall be given and be deemed to have been served and given upon receipt or refusal of delivery (a) when delivered in person to the address set forth hereinafter for the party to whom
notice is given; (b) by national overnight delivery company such as Federal Express. Any party may change its address for notices by notice theretofore given in accordance with this section and shall be deemed effective only when actually
received by the other party. 
 If to Seller 
 Athens Newspapers, LLC 
 Attention: William S. Morris, IV, President 

725 Broad Street 
 Augusta, Georgia 30901 
 With a copy to, which copy shall not constitute notice:

 Hull Barrett, P.C. 
 Attention: Chris Driver 
 801 Broad Street, Suite 700 

Augusta, Georgia 30901 

 If to Buyer: 
 Hagen Creek Properties, Inc. 
 Attention: Carl R. Nichols 

2500 Daniell’s Bridge Road 
 Building 200, Suite 1F 
 Athens, Georgia 30606 

With a copy to, which copy shall not constitute notice: 
 Fortson, Bentley & Griffin, P.A. 
 Attention: G. Marcus Hodge 

2500 Daniell’s Bridge Road 
 Building 200, Suite 3A 
 Athens, GA 30606 

If to Escrow Agent: 
 Fortson, Bentley & Griffin, P.A. 
 Attention: G. Marcus Hodge 

2500 Daniell’s Bridge Road 
 Building 200, Suite 3A 
 Athens, GA 30606 

9.3 Entire Agreement. This Agreement and the exhibits attached hereto constitute the entire agreement between Seller and Buyer,
and there are no other covenants, agreements, promises, terms, provisions, conditions, undertakings, or understandings, either oral or written, between them concerning the Real Property other than those herein set forth. No subsequent alteration,
amendment, change, deletion or addition to this Agreement shall be binding upon Seller or Buyer unless in writing and signed by both Seller and Buyer. 
 9.4 Headings. The headings, captions, numbering system, etc. are inserted only as a matter of convenience and may under no circumstances be considered in interpreting the provisions of this
Agreement. 
 9.5 Binding Effect; Assignment. All of the provisions of this Agreement are hereby made binding upon the
personal representatives, heirs, successors, and assigns of both parties hereto. Where required for proper interpretation, words in the singular shall include the plural; the masculine gender shall include the neuter and the feminine, and vice
versa. The terms “heirs, executors, administrators and assigns” shall include “successors, legal representatives and assigns”. Notwithstanding the foregoing, this Agreement shall not be assigned by Buyer without the prior written
consent of Seller and any such prohibited assignment shall be void; provided, however, that Buyer may assign this Agreement to any “affiliate” of Buyer or any or all of the existing stockholders of Buyer, which for purposes of this Section
shall mean any business entity controlled (greater than 50%) by Buyer. Any assignment by Buyer hereunder will not absolve or release Buyer from liability under this Agreement. In order for any assignment to be effective, Buyer must provide to Seller
a copy of the fully executed assignment by Buyer and written assumption of this Agreement by the assignee. 

 9.6 Time of Essence. Time is of the essence of this Agreement. 

9.7 Unenforceable or Inapplicable Provisions. If any provision hereof is for any reason unenforceable or inapplicable, the other
provisions hereof will remain in full force and effect in the same manner as if such unenforceable or inapplicable provision had never been contained herein. 
 9.8 Counterparts. This Agreement may be executed in any number of counterparts, each of which will for all purposes be deemed to be an original, and all of which are identical. 

9.9 Applicable Law. Place of Performance. Waiver of Jury Trial. This Agreement shall be construed under and in accordance with the
laws of the State of Georgia. Seller and Buyer hereby consent that venue of any action brought under this Agreement shall be in Athens-Clarke County, Georgia. Buyer and Seller waive their right to jury trial in all actions against each other.

 9.10 Attorney’s Fees. In the event either Buyer or Seller should bring suit against the other in respect to any
matters provided for in this Agreement, the prevailing party shall be entitled to recover from the other party reasonable attorneys’ fees in connection with such suit. 
 9.11 Authority. Each person executing this Agreement, by his execution hereof, represents and warrants that he is fully authorized to do so, and that no further action or consent on the part of the
party for whom he is acting is required to the effectiveness and enforceability of this Agreement against such party following such execution. 
 9.12 Further Assurances. In addition to the acts and deeds recited herein and contemplated to be performed at the Closing, Seller and Buyer agree to perform such other acts, and to execute and/or
deliver such other instruments and documents and either Seller or Buyer, or their respective counsel, may reasonab1y require in order to effect the intents and purposes of this Agreement. Further, Seller and Buyer each agree to deliver to
Buyer’s title company affidavits and such other assurances as may reasonably be necessary or required to enable Buyer’s title company to issue the policy of title insurance as contemplated in this Agreement. 

9.13 Time Periods. The term “Business Days” as used herein means Mondays through Fridays except holidays. Unless
otherwise expressly provided, all periods for delivery or review and the like shall be determined on a “calendar” day basis. If any date for performance, approval, delivery or Closing falls on a Saturday, Sunday or legal holiday (state or
federal) in Augusta, Georgia, the time therefore shall be extended to the next Business Day. 
 9.14 Internal Revenue Code
Section 1031 Exchange. Either party may consummate the purchase or sale of the Real Property as part of a so called like kind exchange (an “Exchange”) pursuant to §1031 of the Internal Revenue Code of 1986, as amended (the
“Code”), provided that: (a) the Closing shall not be delayed or affected by reason of an Exchange nor shall the consummation or accomplishment of any Exchange be a condition precedent or condition subsequent to a party’s
obligations under this Agreement; (b) any party desiring an Exchange shall effect its Exchange through an assignment of this Agreement, or its rights under this Agreement, to a qualified intermediary and the other party shall not be required to
take an assignment of the purchase agreement for the relinquished or replacement property or be required to acquire or hold title to any real property for purposes of consummating such Exchange; and (c) the party desiring an Exchange shall pay
any additional costs that would not otherwise have been incurred by Buyer or Seller had such party not consummated its purchase or sale through an Exchange. Neither party shall by this Agreement or acquiescence to an Exchange desired by the other
party (i) have 

 
its rights under this Agreement affected or diminished in any manner or (ii) be responsible for compliance with or be deemed to have warranted to the other party that such party’s
Exchange in fact complies with §1031 of the Code. 
 ARTICLE X 

THE DEPOSIT 
 10.1 Deposit of the Funds. Escrow Agent shall hold the Deposit in an account at an FDIC insured institution in accordance with the terms of this Agreement. All checks, money orders or drafts
deposited with Escrow Agent under this Agreement will be processed for collection in the normal course of business. Escrow Agent may commingle funds received by it in escrow with funds of others and may, without limitation, deposit such funds in its
trust or escrow accounts with any reputable Trust Company, Bank, Savings Bank or Savings Association. Escrow Agent shall not be liable for any loss caused by the failure, suspension, bankruptcy or dissolution of any such investment vehicle or fund.
The parties acknowledge that the amount of FDIC insurance may not be sufficient to cover the entire Deposit. 
 10.2 No
Liability for Certain Acts and Omissions. Escrow Agent shall not be liable for any loss or damage resulting from the following: (a) any defects or conditions of title to any property; (b) any defects in the Real Property purchased,
obligations or rights of any tenant or other party in possession, the surrender of possession or any misrepresentations made by any other party; (c) any default, error, action or omission of any other party; (d) the expiration of any time
limit or other delay, unless such time limit was known to Escrow Agent and such loss is solely caused by failure of Escrow Agent to proceed in its ordinary course of business; (e) lack of authenticity, sufficiency and effectiveness of any
documents delivered to it and lack of genuineness of any signature or authority of any person to sign any such document; (f) any loss or impairment of funds deposited in the course of collection or while on deposit with any Trust Company, Bank,
Savings Bank or Savings Association resulting from failure, insolvency or suspension of such institution; (g) Escrow Agent complying with any and all legal process, writs, orders, judgments and decrees of any court whether issued with or
without jurisdiction and whether or not subsequently vacated, modified, set aside or reversed; (h) Escrow Agent asserting or failing to assert any cause of action or defense in any judicial, administrative or other proceeding either in the
interest of itself or any other party or parties; or (i) any good faith act or forbearance by Escrow Agent. 
 10.3
Authenticity of Instructions. Escrow Agent shall have no obligation to inquire into the authenticity of any written instructions delivered to it as required by this Agreement nor to inquire as to the genuineness of any signature of authority
of any person to issue such instructions. 
 10.4 Disputes. If written notice of default, non-performance or dispute by
or between either Seller or Buyer is given to Escrow Agent, Escrow Agent shall notify in writing all other parties of the receipt of such notice and shall not disburse any funds until Escrow Agent receives written joint disbursement instructions by
both Seller and Buyer. If a written joint instruction reply executed by both Seller and Buyer has not been received by Escrow Agent or a conflicting instruction reply has been received from any party, Escrow Agent shall either hold the Deposit or
file an interpleader action to resolve the conflict. Escrow Agent shall be indemnified, saved and held harmless by the other parties for all of its expenses, costs and reasonable attorney fees incurred in connection with an interpleader action and
such expenses, costs and fees may be deducted from the funds held hereunder. 
 10.5 Indemnification. If Escrow Agent is
made a party to any judicial, non-judicial or administrative action, hearing or process based on acts of any of the other parties hereto and not on the malfeasance and/or gross negligence of Escrow Agent in performing its duties hereunder and which
seeks to attach, recover or direct disbursement/release of the subject matter of this Agreement, the expenses, costs and reasonable attorney fees incurred by Escrow Agent in responding to such action, hearing or process may be deducted from the
funds held hereunder and the parties shall indemnify save and hold Escrow Agent harmless from said expenses costs and fees so incurred. 

 10.6 Seller hereby acknowledges and agrees that Escrow Agent represents Buyer in this
transaction and that Escrow Agent’s service hereunder shall not disqualify it from representing Buyer in any dispute with Seller or otherwise. 
 ARTICLE XI 
 LEASE BACK 

Seller and Buyer hereby agree to the form of Lease Back Agreement attached hereto as Exhibit “B”, which Lease Back Agreement
Seller shall enter into with Buyer at Closing. 
 ARTICLE XII 

OFFER PERIOD 
 This Agreement shall be regarded as an offer by the Buyer to the Seller and is open for acceptance by the Seller until 5:00 o’clock, P.M.,
             day of March, 2012, by which time written acceptance of such offer must have been actually received by Buyer. 

ARTICLE XIII 

PUBLIC ANNOUNCEMENT 
 Buyer hereby consents to Seller public announcing the execution of this Agreement including filings with the Security Exchanges Commission. 

[SIGNATURES ON FOLLOWING PAGE] 

 Executed under seal effective the day and year first written above. 

 

			
	 SELLER:
 ATHENS NEWSPAPER, LLC,
a Georgia limited liability company
 (Seal)
	    	 BUYER:
 HAGEN CREEK PROPERTIES,
INC., a Georgia corporation
 (Seal)

		
	By: /s/ William S. Morris IV	    	By: /s/ Carl R. Nichols
		
	Print Name: William S. Morris, IV	    	Print Name: Carl R. Nichols
		
	As its: President	    	As Its: President
		
	Date: 3-19-12	    	Date: 3/19/12Amended and Restated License Agreement

 Exhibit 10.2 
 AMENDED AND RESTATED LICENSE AGREEMENT 
 THIS
AGREEMENT, dated as of March 1, 2012 (“Effective Date”), is made by and between WisdomTree Investments, Inc., a Delaware corporation, having its principal place of business at 380 Madison Avenue, 21st Floor, New York, NY 10017 (“Licensor”), and WisdomTree
Trust, a Delaware business trust, having its principal place of business at 380 Madison Avenue, 21st Floor, New York, NY 10017 (“Licensee”) and hereby amends and restates the prior agreement between the parties dated March 21, 2006.

 WHEREAS, Licensor is the owner of all right, title and interest in and to certain quantitative securities benchmarks
(“Licensed Benchmarks”), along with associated service marks, together with any applications or registrations now or hereinafter issued on said service marks whether federal, state or foreign (“Licensed Marks”), identified more
completely in Exhibit A hereto; and 
 WHEREAS, Licensor is the owner of certain research and development information,
processes, know-how, trade secrets and technical data related to financial benchmarks, indexes, funds and model portfolios (“Technical Data”); and 
 WHEREAS, Licensor wishes to grant a license to Licensee and Licensee wishes to receive a license from Licensor, for the right to use the Licensed Benchmarks, Technical Data and Licensed Marks owned by
Licensor in accordance with the terms and conditions set forth in this Agreement. 
 NOW, THEREFORE, in consideration of the
above premises and the mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Licensor and Licensee agree as follows: 

Grant of License 
  

	1.	Subject to the terms and conditions set forth below, Licensor hereby grants to Licensee, and Licensee hereby accepts an exclusive, nontransferable, non-sublicensable,
non-assignable, royalty-free license in the United States to use the Licensed Benchmarks and associated Technical Data solely in connection with the construction and establishment of a series of exchange-traded funds, each based on a Licensed
Benchmark (“Benchmark Funds” or “Funds”), and to use the Licensed Marks, solely in connection with the Benchmark Funds. 

 Ownership 
  

	2.	Licensee acknowledges and agrees (i) that Licensor is the exclusive owner of the Licensed Benchmarks, the Technical Data, and the Licensed Marks and all the rights
therein and goodwill pertaining thereto, (ii) that all use of the Licensed Marks by Licensee shall inure to the benefit of Licensor, including its successors and assigns, (iii) that Licensee shall not take any action which is inconsistent
with Licensor’s ownership of the Licensed Benchmarks, Technical Data and Licensed Marks, and (iv) that, upon termination of this Agreement, all rights in the Licensed Marks, including the goodwill connected therewith, the Licensed
Benchmarks and Technical Data shall remain the property of Licensor. Licensor shall be solely responsible for, and may exercise its discretion in, deciding whether to apply for and prosecute applications for registration of the Licensed Marks in any
jurisdiction and whether to maintain any such registrations therefor. 

 Quality Control of Licensed Marks

  

	3.	 Licensee agrees that the nature and quality of the Benchmark Funds and related services provided by Licensee in connection with the Licensed Marks
shall conform to commercially reasonable standards. Licensee agrees to cooperate with Licensor in facilitating Licensor’s control of such nature and quality, and to supply Licensor with specimens of use of the Licensed

	 	
Marks upon request. Licensee agrees that it will not make any significant change to the Licensed Marks or business methods for rendering the services offered under the Licensed Marks without
obtaining the prior consent of Licensor. Licensee shall not have the right to and shall not use any trademarks, trade names or service marks confusingly similar to the Licensed Marks or other Licensor marks. 

Confidentiality 
  

	4.	Licensee shall: (i) treat as confidential and preserve the confidence of all Confidential Information as that term is defined below; (ii) make no use of the
Confidential Information except as expressly permitted under this Agreement; and (iii) except as expressly authorized by Licensor, limit access to the Confidential Information to Licensee’s employees and consultants who reasonably require
access to such Confidential Information, and otherwise maintain policies and procedures designed to prevent any unauthorized disclosure of the Confidential Information. For purposes of this Agreement, Confidential Information shall include all
business and financial information relating to Licensor, all proprietary information relating to the Licensed Benchmarks and Technical Data, and any Benchmark Funds or processes produced in connection therewith (excluding, however, that portion of
such proprietary information incorporated into an issued patent assigned to or owned by Licensor), and all inventions, discoveries, methods, plans, techniques, processes, documents, drawings, data, trade secrets, know-how, patent applications and
information of Licensor that is related thereto and marked or otherwise designated, verbally or in writing, as “Confidential.” Confidential Information shall not include anything that (i) is or lawfully becomes in the public domain,
other than as a result of a breach of an obligation hereunder; (ii) is furnished to Licensee by a third party having a lawful right to do so; or (iii) was known to Licensee at the time of the disclosure. Unless prohibited by law, Licensee
shall give prompt notice to Licensor of any requests or demands for any Confidential Information made under lawful process by any third parties, prior to disclosure or furnishing of such Confidential Information. Licensee agrees to
cooperate with Licensor, at Licensor’s expense, in seeking reasonable protective arrangements to prevent, limit or restrict the disclosure of Confidential Information pursuant to such lawful process. If Licensee has complied with
the foregoing provisions of this Section 4, Licensee may disclose Confidential Information, upon the advice of counsel that such disclosure is required by law, regulation or lawful process. 

Licensee’s Obligations 
  

	5.	Licensee agrees that it will never dispute, contest, or challenge, directly or indirectly, the validity or enforceability of the Licensed Marks or Licensor’s
ownership of the Licensed Benchmarks, Technical Data or Licensed Marks, nor to counsel, procure, or assist anyone else to do the same. Licensee further agrees that it will never attempt to dilute, directly or indirectly, the value of the goodwill
attached to the Licensed Marks, nor to counsel, procure, or assist anyone else to do the same. 

  

	6.	Licensee agrees to safeguard and maintain the reputation and prestige of the Licensed Marks and will not do anything that would tarnish the image of or adversely impact
the value, reputation or goodwill associated with the Licensed Marks. Operation of any Benchmark Fund in accordance with standard business practices shall not result in a breach of this Section 6, regardless of the actual performance of such
Benchmark Fund. 

  

	7.	Licensee agrees that it will comply with all laws, rules, regulations, and requirements of any governmental or administrative body or voluntary industry standards that
may be applicable to the advertising, publicity, promotion, sale, or offering of the Benchmark Funds, to the offering of related services and operations, and to other goods or services bearing the Licensed Marks. 

  
 -2-

 Enforcement 

 

	8.	Licensor shall have the sole right, but no obligation, at its own discretion, to pursue any cause of action regarding the Licensed Benchmarks, Technical Data or
Licensed Marks. Licensee agrees to join as a party plaintiff in any such lawsuit by Licensor, if requested by Licensor. 

  

	9.	Licensee shall promptly notify Licensor of any infringement, threatened infringement or misappropriation of the Licensed Benchmarks, Technical Data or Licensed Marks
that may come to its attention. 

  

	10.	Licensor represents and warrants to Licensee that (i) to Licensor’s actual knowledge, Licensor is the sole owner of the Licensed Marks free and clear of any
restrictions upon its ability to license the Licensed Marks pursuant to this Agreement and (ii) to Licensor’s actual knowledge, no person, firm, or corporation has any rights in the Licensed Marks which will interfere with Licensee’s
use thereof pursuant to this Agreement. 

 Term and Termination 

 

	11.	This Agreement, unless terminated earlier as provided by Section 12 and Section 13 herein, shall remain in full force and effect for a period of ten
(10) years, up to and including the entire last day of the period (“Initial Term”), and be automatically renewed at Licensor’s sole discretion for an additional term of two (2) years (“Renewal Term”) at the
expiration of the Initial Term or any subsequent Renewal Term. Either party may give to the other party, not more than one year or less than 90 days in advance of the expiration of the Initial Term or any Renewal Term, written notice of its intent
not to renew this Agreement. 

  

	12.	Notwithstanding Section 13 hereto, Licensor may revoke the license provided herein irrespective of any event of default if Licensor’s subsidiary, WisdomTree
Asset Management, Inc., ceases to exercise investment discretion over Licensee or any Benchmark Fund in its capacity as manager, investment advisor, trustee, or any other comparable capacity. If and when said license shall ever be revoked pursuant
to this Section 12, Licensee agrees to discontinue all use of the Licensed Benchmarks, Technical Data and Licensed Marks immediately. 

  

	13.	A non-defaulting party may terminate this Agreement in the event of the occurrence of any of the following events of default: 

 

	 	(a)	the failure of the other party to comply with any material provision of this Agreement, if such noncompliance is not remedied within 30 days after written notice of
such default is provided to the defaulting party; provided, however, that such cure period shall be extended if such default by its nature and not as a result of the defaulting party cannot be cured within such 30 days so long as the defaulting
party commences action immediately after such notice to cure such default and proceeds diligently thereafter to effect the cure of such default as soon as possible; or 

 

	 	(b)	the unauthorized sale, transfer or assignment of this Agreement by Licensee to a third party. The sale of an interest in Licensee exceeding fifty percent
(50%) shall constitute an assignment of this Agreement for purposes of this Agreement. 

 Mutual Warranties
and Indemnifications 
  

	14.	Licensor and Licensee each individually represent, warrant and covenant to the other that (a) each is fully capable of and authorized to enter into this Agreement;
(b) the execution, delivery and performance of this Agreement does not violate its certificate of incorporation, by-laws or similar governing instruments or applicable law and does not, and with the passage of time will not, materially conflict
with or constitute a breach under any other agreement, judgment or instrument to which it is a party or by which it is bound; (c) this Agreement is the legal, valid and binding obligation of such party, enforceable in accordance with its terms;
and (d) each will comply with all applicable laws, rules and regulations when exercising any of its rights and performing any of its obligations hereunder. 

  
 -3-

	15.	Licensor shall indemnify, defend and hold harmless Licensee and its Funds, officers, and Trustees, against any and all losses, claims, or damage (including reasonable
legal and other expenses) (“Damages”) incurred by Licensee or a Fund arising out of, or in connection with, any claims asserted against Licensee or a Fund related to the Licensed Marks or the Licensed Benchmarks (a “Claim”) only
to the extent that such Damages shall not be advanced, reimbursed or otherwise paid by any insurance policy insuring the Licensee for any such Claim. 

  

	16.	Licensee will promptly notify Licensor of any action commenced against Licensee or a Fund for which indemnity may be sought, but Licensee’s failure to so notify
Licensor will not relieve Licensor from any liability which it may have otherwise under this Agreement, except to the extent that the Licensor is actually prejudiced by the Licensee’s failure to so notify. 

 

	17.	Licensee, on behalf of each Fund, hereby agrees (i) to grant control of any defense and any settlement of any Claim asserted against Licensee or any Fund to
Licensor, and (ii) to cooperate with Licensor in the defense thereof. Licensee shall have the right at its own expense to participate in the defense of any Claim asserted against Licensee or any Fund, but shall not have the right to control the
defense, consent to judgment or agree to the settlement of any Claim asserted without the written consent of Licensor. 

  

	18.	Unless otherwise agreed in writing by Licensee, whose agreement shall not be unreasonably withheld, conditioned or delayed, Licensor shall not consent to the entry of
any judgment or enter any settlement of any claim against Licensee or any Fund which does not include, as an unconditional term, the release by the claimant of all liabilities for any Claim asserted against Licensee or such Fund.

  

	19.	Licensor shall select counsel reasonably satisfactory to Licensee to jointly represent Licensor, Licensee and other defendants named in any Claim asserted against
Licensee or a Fund. Licensee’s consent shall not be unreasonably withheld, conditioned or delayed. In the event however, that such counsel has a conflict of interest or if Licensor fails to employ counsel reasonably satisfactory to Licensee,
then Licensee may employ separate counsel to represent or defend Licensee or a Fund in any Claim and Licensor will pay the reasonable fees and disbursements of such counsel. Licensor shall be responsible for paying the fees and expenses incurred by
the counsel selected by Licensor or Licensee in connection with the defense of Licensee or a Fund arising out of, or in connection with, any Claim, only to the extent that such fees and expenses shall not be advanced, reimbursed or otherwise paid by
any insurance policy insuring Licensee for any such Claim. 

 General Provisions 

 

	20.	Licensee acknowledges that Licensor’s obligations under this Agreement are not personal, and Licensor can unconditionally assign, in its own discretion, this
Agreement to another corporation or any other entity or natural person. Licensee understands and acknowledges that the rights and duties set forth in this Agreement are personal to Licensee. Accordingly, this Agreement and Licensee’s rights and
interests hereunder shall not be voluntarily or involuntarily, directly or indirectly, sold, pledged, assigned, transferred, shared, sub-divided, or encumbered in any way in whole or in part, in any matter whatsoever without the prior written
approval of the Licensor. 

  

	21.	The relationship between the parties established by this Agreement is solely that of licensor and licensee. Neither party is in any way the legal representative,
partner, employee or agent of the other, nor is either party authorized or empowered to create or assume any obligation of any kind, implied or expressed, on behalf of the other party, without the express prior written consent of the other.

  
 -4-

	22.	This Agreement constitutes the entire agreement between the parties with respect to the subject matter contained herein and shall supersede all prior agreements,
proposals or understandings between the parties whether written or oral. 

  

	23.	This Agreement shall not be deemed or construed to be modified, amended, rescinded, canceled or waived, in whole or in part, except by written instrument signed by both
parties hereto. This Agreement may be amended from time to time to add new securities benchmarks and service marks that will be licensed by mutual agreement of parties. If the parties agree to licensing additional benchmarks and service marks,
Licensor shall provide to Licensee at the address in Section 27 a copy of the amended Exhibit A signed by an authorized representative of Licensor. Licensee shall provide Licensor with acknowledgement and acceptance of the amended Exhibit A
within five (5) business days. Nothing in this Section 23 shall be construed to give Licensor the power or authority to force Licensee to accept or agree to any amendment to Exhibit A or any license of additional benchmarks and service
marks. 

  

	24.	Neither the waiver by Licensor of any breach of or default under any of the provisions of this Agreement, nor the failure of Licensor to enforce any of the provisions
of this Agreement or to exercise any right hereunder, shall be construed as a waiver of any subsequent breach or default, or as a waiver of any such rights or provision hereunder. 

 

	25.	If any term or provision of this Agreement shall be held by a court of competent jurisdiction to be invalid or unenforceable, the remainder of this Agreement shall not
be affected thereby and each term and provision shall be valid and enforceable to the fullest extent permitted by law. 

  

	26.	The headings in this Agreement are for convenience only and shall not be construed as part of this Agreement or in any way limiting or amplifying any of the provisions
of this Agreement. 

  

	27.	All notices given pursuant to this Agreement shall be given in writing and shall be given by telegram, facsimile, certified mail or hand delivery to the addresses set
forth below or at such other address as a party may from time to time specify in writing: 

  

					
	If to Licensor:	  	Peter M. Ziemba, Esq.	  	
		  	General Counsel	  	
		  	WisdomTree Investments, Inc.	  	
		  	380 Madison Avenue, 21st Floor	  	
		  	New York, NY 10017	  	
		  	Tel.: (917) 267-3721	  	
		  	Fax: (917) 267-3851	  	
			
	If to Licensee:	  	Jonathan Steinberg	  	
		  	President	  	
		  	WisdomTree Trust	  	
		  	380 Madison Avenue, 21st Floor	  	
		  	New York, NY 10017	  	
		  	Tel.: (917) 267-3734	  	
		  	Fax: (917) 267-3851	  	

  

	28.	The parties acknowledge that this Agreement has been negotiated and prepared in an arms-length transaction and that both Licensor and Licensee have negotiated all the
terms contained herein. Accordingly, the parties agree that neither party shall be deemed to have drafted this Agreement and this Agreement shall not be interpreted against either party as the draftsman. 

  
 -5-

	29.	This Agreement shall be governed by the substantive laws of the State of New York without regard to the application of conflicts of law principles. The parties each
hereby submit to the jurisdiction of the United States District Court in the Southern District of New York and the state courts in the State of New York located in New York City, New York, and waive any claim that each such venue is an inconvenient
forum. 

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

  

									
	WisdomTree Investments, Inc.	 		 	WisdomTree Trust
					
	By:	 	/s/ Bruce Lavine	 		 	By:	 	/s/ Jonathan Steinberg
	Name:	 	Bruce Lavine	 		 	Name:	 	Jonathan Steinberg
	Title:	 	Chief Operating Officer	 		 	Title:	 	President

  
 -6-

 EXHIBIT A 
 As of March 1, 2012 
  

	1.	Licensed Benchmarks 

WisdomTree Dividend Index 
 WisdomTree Equity Income Index 
 WisdomTree Dividend Ex-Financials Index

 WisdomTree LargeCap Dividend Index 
 WisdomTree MidCap Dividend Index 
 WisdomTree SmallCap Dividend Index 

WisdomTree Earnings Index 
 WisdomTree Earnings 500 Index 
 WisdomTree MidCap Earnings Index 

WisdomTree SmallCap Earnings Index 
 WisdomTree LargeCap Value Index 
 WisdomTree LargeCap Growth Index 

WisdomTree DEFA Index 
 WisdomTree DEFA Equity Income Index 
 WisdomTree DEFA International Hedged Equity
Index 
 WisdomTree International Dividend ex-Financials Index 

WisdomTree International LargeCap Dividend Index 
 WisdomTree International MidCap Dividend Index 
 WisdomTree International SmallCap
Dividend Index 
 WisdomTree Europe SmallCap Dividend Index 

WisdomTree Global Equity Income Index 
 WisdomTree Japan Hedged Equity Index 
 WisdomTree Japan SmallCap Dividend Index

 WisdomTree Global ex-U.S. Growth Index 
 WisdomTree Asia Pacific ex-Japan Index 
 WisdomTree Australia Dividend Index

 WisdomTree Emerging Markets Equity Income Index 
 WisdomTree Emerging Markets SmallCap Dividend Index 
 WisdomTree Middle East
Dividend Index 
 WisdomTree India Earnings Index 
 WisdomTree Commodity Country Equity Index 
 WisdomTree Global Natural Resources
Index 
 WisdomTree Global ex-U.S. Utilities Index 
 WisdomTree Global ex-U.S. Real Estate Index 
  

	2.	Licensed Marks 

WISDOMTREE 

HIGH-YIELDING EQUITY 

  
 -7-

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