Document:

Exhibit
10.10

 

RESTRICTED
SHARES AGREEMENT

 

This
Agreement date as of September 9, 2011 (the “Agreement”) by and between Assaf Ran (“Ran”) and Manhattan
Bridge Capital, Inc., a New York corporation (the “Company”).

 

WHEREAS,
Ran is the President and Chief Executive Officer of the Company; and

 

WHEREAS,
Ran holds options to purchase 280,000 shares of the common stock par value $.001 per share of the Company at prices per share
of greater than $1.21 (the “Out of the Money Options”); and

 

WHEREAS,
Ran holds options to purchase 210,000 shares of Common Stock at prices per share of less than $1.21 (the “In the Money Options”);
and

 

WHEREAS,
in order to secure the continued employment of Ran, the Board of Directors of the Company has agreed to grant to Ran 1,000,000
shares of restricted Common Stock pursuant to the terms set forth below (the “Grant”); and

 

WHEREAS,
in consideration of the Grant, Ran has agreed to (i) cancel the Out of the Money Options and (ii) not to exercise any of the In
the Money Options;

 

NOW
THEREFORE, the parties hereby agree as follows:

 

1.
In consideration of Ran’s continued employment with the Company and of services previously rendered by Ran, the Company
hereby awards to Ran 1,000,000 shares of Common Stock (the “Granted Shares”). The Company represents that the Granted
Shares are fully paid and non-assessable.

 

2.
As used herein the term “Granted Shares” shall mean and include, in addition to the above referenced number of shares,
any new shares or other securities convertible into shares resulting from any merger or reorganization of the Company, or the
recapitalization, reclassification or split of the Granted Shares, or any stock dividend paid on the Granted Shares.

 

3.
By accepting the Granted Shares Ran agrees as follows:

 

a.
No Granted Shares shall be sold, conveyed, transferred, pledged, encumbered or otherwise disposed of (any such disposition being
herein called a “Transfer”) prior to the earliest of (i) September 9, 2026,with respect to 1/3 of the Restricted Shares,
September 9, 2027 with respect to an additional 1/3 of the Restricted Shares and September 9, 2028 with respect to the final 1/3
of the Restricted Shares; (ii) the date on which Ran’s employment is terminated by the Company for any reason other than
for “Cause” (as defined below), (iii) the date on which Ran’s employment is terminated on account of (1) his
death or (2) Ran’s disability which in the opinion both of Ran’s personal physician and a physician selected by the
Company prevents him from being employed full time (each such date being hereinafter called a “Risk Termination Date”
with respect to 1/3 of the shares).

 

“Cause”
shall mean misconduct which is materially injurious to the Company, monetarily or otherwise, including but not limited to, engaging
in any conduct which constitutes a felony under federal, state or local laws.

 

b.
If at any time prior to a Risk Termination Date, either (i) the Company terminates Ran for Cause or (ii) Ran voluntarily terminates
his employment with the Company for any reason other than a reason described in subsection (iii) in paragraph (a) above (each
such termination being herein called an “Event of Retransfer”) then, upon such Event of Retransfer, Ran shall transfer
to the Company the Granted Shares not previously vested on the day following such termination. Upon an Event of Retransfer, Ran
shall deliver to the Company all stock certificates representing such unvested Granted Shares, duly endorsed with Ran’s
signature guaranteed thereon by a bank and the Company shall deliver to Ran a receipt therefor. Immediately upon such Event of
Retransfer, such unvested Granted Shares shall be deemed to have been transferred to the Company and Ran shall have no further
rights or privileges as a holder of the Granted Shares so re-transferred.

 

    	 

    	 

    

 

c.
Ran represents and agrees that he will only sell, transfer, pledge or hypothecate any of the Granted Shares pursuant to an effective
registration statement under the Securities Act of 1933 or in a transaction wherein registration under the Securities Act of 1933
is not required.

 

d.
All certificates for Granted Shares shall endorsed as follows:

 

“The
shares of stock represented by this certificate are subject to certain restrictions and obligations stated in and are transferable
only upon compliance with the provisions of an Agreement dated September 9, 2011 between this Corporation and the registered holder,
a copy of which Agreement is on file in the office of the Secretary of this Corporation.”

 

“The
shares represented by this certificate have not been registered under the Securities Act of 1933. The shares have been acquired
for investment and must be held unless they are subsequently registered under the Securities Act of 1933 or, in the opinion of
counsel to this Corporation, an exemption from registration under said Act is available.

 

4.
Ran shall be entitled to (i) vote the Granted Shares and (ii) retain all cash and/or property dividends, if any, paid with respect
to the Granted Shares.

 

5.
In consideration of the Grant, Ran hereby agrees (a) that the Out of the Money Options are hereby terminated, cancelled and of
no further force and effect and (b) he will not under any circumstances transfer and/or exercise any of the In the Money Options,
and Ran acknowledges and agrees that if any of the In the Money Options shall hereafter be exercised Ran shall forfeit that number
of the Granted Shares as shall be equal to (x) the number of Granted Shares(at the time of such exercise), times (y) a fraction
the numerator of which shall be the number of shares for which the In the Money Options have been exercised and the denominator
of which shall be 210,000 (as adjusted for stock dividends, stock splits, reverse stock splits, etc.

 

6.
In order to enforce the provisions of Section 5, Ran is hereby delivering (a) the documents representing the Out of the Money
Options to the Company for cancellation and (b) the documents representing the In the Money Options to the Escrowee to be held
until such In the Money Options expire, at which time such documents shall be delivered to the Company for destruction.

 

7.
This Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof and is intended to supersede
all prior negotiations, understandings and agreements with respect thereto. No provision of this Agreement may be modified or
amended except by a written agreement specifically referring to this Agreement and signed by the parties hereto.

 

8.
This Agreement shall be binding upon and inure to the benefit of each party hereto and its successors and assigns.

 

9.
Each party shall take such further action and execute and deliver such further documents as may be necessary or appropriate in
order to carry out the provisions and purposes of this Agreement.

 

10.
All questions concerning the construction, validity, enforcement and interpretation of this Agreement, and any claim, controversy
or dispute arising under or related to this Agreement, or the relationship of the parties, shall be governed by and construed
and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law
thereof.

 

11.
This Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original
and, all of which taken together shall constitute one and the same Agreement. In the event that any signature is delivered by
facsimile transmission or .pdf, such signature shall create a valid binding obligation of the party executing (or on whose behalf
such signature is executed) the same with the same force and effect as if such facsimile or .pdf signature were the original thereof.

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be executed as of the date first above indicated.

 

	 	Manhattan
    Bridge Capital, Inc.
	 	 	 
	 	By:
    	/s/
    Vanessa Kao 
	 	Name:
    	Vanessa
    Kao
	 	Title:	Chief
    Financial Officer
	 	 	 
	 	 	/s/
    Assaf Ran
	 	 	Assaf
    RanExhibit
10.15

 

AMENDMENT
NO. 2

 

TO

 

AMENDED
AND RESTATED CREDIT AND SECURITY AGREEMENT

 

This
AMENDMENT NO. 2 (this “Amendment”) is entered into as of December 31, 2019, by and among MANHATTAN BRIDGE CAPITAL,
INC., a New York corporation (“Borrower”; and collectively with any Person who is or hereafter becomes a party
to the Credit Agreement (as defined below) as a borrower or a guarantor, each a “Loan Party” and collectively,
the “Loan Parties”), the financial institutions who are or hereafter become parties to the Credit Agreement
(as defined below) as lenders (collectively, the “Lenders” and each individually a “Lender”)
and WEBSTER BUSINESS CREDIT CORPORATION (“WBCC”), individually, as a Lender hereunder and as agent for itself
and each other Lender (WBCC, acting in such agency capacity, the “Agent”).

 

BACKGROUND

 

Loan
Parties, Lenders and Agent are parties to an Amended and Restated Credit and Security Agreement dated as of August 8, 2017 (as
amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”)
pursuant to which Agent and Lenders provide Loan Parties with certain financial accommodations.

 

Loan
Parties have requested that Agent and Lenders make certain amendments to the Credit Agreement, and Agent and Lenders are willing
to do so on the terms and conditions hereafter set forth.

 

NOW,
THEREFORE, in consideration of any loan or advance or grant of credit heretofore or hereafter made to or for the account of Borrowers
by Lenders, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto hereby agree as follows:

 

1.
Definitions. All capitalized terms not otherwise defined herein shall have the respective meanings given to them in the
Credit Agreement.

 

2.
Amendment to Credit Agreement. Subject to satisfaction of the conditions precedent set forth in Section 3 below, the Credit
Agreement is hereby amended as follows:

 

(a)
Section 8.2 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

8.2
Fixed Charge Coverage Ratio. Maintain a Fixed Charge Coverage Ratio as of the end of each Fiscal Quarter for the Test Period
then ended, beginning with the Fiscal Quarter ending March 31, 2015 of not less than (i) 1.25 to 1 prior to the payment of any
dividend and (ii) 1.0 to 1 on a pro forma basis after giving effect to (x) any dividends and (y) an addback to EBITDA of distributions
in an amount not to exceed $300,000.

 

    	 

    	 

    

 

3.
Conditions of Effectiveness. This Amendment shall become effective upon Agent’s receipt of:

 

(a)
a copy of this Amendment duly executed and delivered by Agent, Required Lenders, each Loan Party and Personal Guarantor (defined
below) with one original executed copy of this Amendment to be promptly delivered by Loan Parties to Agent, in form and substance
satisfactory to Agent; and

 

(b)
such other documents, instruments and agreements as Agent or its counsel may require.

 

4.
Representations and Warranties. Each Loan Party hereby represents and warrants as follows:

 

(a)
This Amendment and the Credit Agreement, as amended hereby, constitute legal, valid and binding obligations of each Loan Party
and are enforceable against each Loan Party in accordance with their respective terms.

 

(b)
Upon the effectiveness of this Amendment, each Loan Party hereby reaffirms all covenants, representations and warranties made
in the Credit Agreement as amended hereby and agree that all such covenants, representations and warranties shall be deemed to
have been remade as of the effective date of this Amendment.

 

(c)
After giving effect to this Amendment, no Event of Default or Default has occurred and is continuing or would exist after giving
effect to this Amendment.

 

(d)
No Loan Party has any defense, counterclaim or offset with respect to the Credit Agreement or any Other Document to which it is
a party.

 

5.
Effect on the Credit Agreement.

 

(a)
Upon the effectiveness of this Amendment, each reference in the Credit Agreement to “this Amendment,” “hereunder,”
“hereof,” “herein” or words of like import shall mean and be a reference to the Credit Agreement as amended
hereby. This Amendment shall be an Other Document for all purposes under the Credit Agreement.

 

(b)
Except as specifically amended herein, the Credit Agreement, and all other documents, instruments and agreements executed and/or
delivered in connection therewith, shall remain in full force and effect, and are hereby ratified and confirmed.

 

(c)
The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of Agent
or any Lender, nor constitute a waiver of any provision of the Credit Agreement, or any other documents, instruments or agreements
executed and/or delivered under or in connection therewith.

 

    	 

    	 

    

 

6.
Release. Each of the Loan Parties on behalf of itself and its successors, assigns, and other legal representatives, and
Personal Guarantor on behalf of himself and his successors, assigns, and other legal representatives, hereby, (a) jointly and
severally, absolutely, unconditionally and irrevocably releases, remises and forever discharges Agent and Lenders, and each of
their present and former shareholders, affiliates, subsidiaries, divisions, predecessors, directors, officers, attorneys, employees,
agents and other representatives and their respective successors and assigns (Agent and Lenders and all such other parties being
hereinafter referred to collectively as the “Releasees” and individually as a “Releasee”),
of and from all demands, actions, causes of action, suits, covenants, contracts, controversies, agreements, promises, sums of
money, accounts, bills, reckonings, damages and any and all other claims, counterclaims, defenses, rights of set-off, demands
and liabilities whatsoever (individually, a “Claim” and collectively, “Claims”) of every name and
nature, known or unknown, suspected or unsuspected, both at law and in equity, whether liquidated or unliquidated, matured or
unmatured, asserted or unasserted, fixed or contingent, foreseen or unforeseen and anticipated or unanticipated, which each of
the Loan Parties and Personal Guarantor, or any of their respective successors, assigns, or other legal representatives and their
successors and assigns may now or hereafter own, hold, have or claim to have against the Releasees or any of them for, upon, or
by reason of any nature, cause or thing whatsoever which arises at any time on or prior to the day and date of this Amendment,
in relation to, or in any way in connection with the Credit Agreement, as amended and supplemented through the date hereof, the
Personal Guaranty, this Amendment, the Other Documents; (b) understands, acknowledges and agrees that the release set forth above
may be pleaded as a full and complete defense and may be used as a basis for an injunction against any action, suit or other proceeding
which may be instituted, prosecuted or attempted in breach of the provisions of such release; (c) agrees that no fact, event,
circumstance, evidence or transaction which could now be asserted or which may hereafter be discovered shall affect in any manner
the final and unconditional nature of the release set forth above and nothing contained herein shall constitute an admission of
liability with respect to any Claim on the part of any Releasee; and (d) jointly and severally, absolutely, unconditionally and
irrevocably, covenants and agrees with each Releasee that it will not sue (at law, in equity, in any regulatory proceeding or
otherwise) any Releasee on the basis of any Claim released, remised and discharged by any of the Loan Parties or Personal Guarantor
pursuant to this Paragraph 7. If any Loan Party or Personal Guarantor violates the foregoing covenant, Loan Parties and Personal
Guarantor, jointly and severally, agree to pay, in addition to such other damages as any Releasee may sustain as a result of such
violation, all attorneys’ fees and costs incurred by any Releasee as a result of such violation.

 

7.
Governing Law. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns and shall be governed by and construed in accordance with the laws of the State of New York.

 

8.
Headings. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute
a part of this Amendment for any other purpose.

 

9.
Counterparts; Facsimile. This Amendment may be executed by the parties hereto in one or more counterparts, each of which
shall be deemed an original and all of which when taken together shall constitute one and the same agreement. Any signature delivered
by a party by .pdf or electronic transmission shall be deemed to be an original signature hereto.

 

    	 

    	 

    

 

10.
Personal Guarantor. Assaf Ran (the “Personal Guarantor”) hereby ratifies and confirms that all of the
terms and conditions, representations and covenants contained in the Amended and Restated Guaranty Agreement (as amended, the
“Guaranty”), dated as of August 8, 2017, made by Personal Guarantor in favor of Agent remain in full force
and effect after giving effect to the execution and effectiveness of this Agreement and the increase of the Maximum Revolving
Amount pursuant hereto, and Personal Guarantor hereby reaffirms that all of the Obligations of Loan Parties under the Credit Agreement
as amended by this Agreement (including, without limitation, obligations relating to the increased Maximum Revolving Amount) are
irrevocably guaranteed by such Personal Guarantor in accordance with the terms and conditions of the Guaranty.

 

11.
Severability. In case of one or more of the provisions contained in this Amendment shall be held invalid, illegal or unenforceable
in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be
affected or impaired thereby.

 

[Remainder
of page intentionally left blank; signature pages follow]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first written above.

 

	 	BORROWERS:
	 	 
	 	MANHATTAN
    BRIDGE CAPITAL, INC.
	 	 	 
	 	By:	/s/
    Vanessa Kao 
	 	Name:	Vanessa
    Kao 
	 	Title:	CFO
    
	 	 	 
	 	PERSONAL
    GUARNATOR:
	 	 	 
	 	 	/s/
    Assaf Ran
	 	 	ASSAF
    RAN 

 

[Signature
Page to Amendment No. 2]

 

    	 

    	 

    

 

	 	WEBSTER BUSINESS CREDIT

                                                                     CORPORATION, as Agent and a Lender

	 	 	 
	 	By:	/s/
    Leo Goldstein 
	 	Name:	Leo
    Goldstein 
	 	Title:	Vice
    President 

 

[Signature Page to Amendment No. 2]

 

    	 

    	 

    

 

	 	FLUSHING
    BANK, as a Lender
	 	 	 
	 	By:	/s/
    Elizabeth Carroll 
	 	Name:	Elizabeth
    Carroll 
	 	Title:	Vice
    President 

 

[Signature Page to Amendment No. 2]

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