Document:

Exhibit 10.4

Date:            May 13, 2013

PRIVATE AND CONFIDENTIAL

FUNDING TERM SHEET

  

THIS OFFER EXPIRES 1 WEEK FROM DATE OF ISSUE

	
Issuer:

	
Seen on Screen Tv, Inc. ("Company")

	
 

	
 

	
Investor:

	
AGS Capital Group, LLC ("Investor")

	
 

	
 

	
Amount:

	
The Company has the right, but not the obligation, to issue $5,000,000 of the Company's common stock ("REF Amount") to the Investor over the course of 3 years. The Company has full control and discretion over the timing and amount of any shares that they sell to the Investor.

	
Maximum Advance

Amount:

	
 

For each advance, the Company may issue an amount of stock equal to $250,000. Such advance will not exceed more than 300% of the average daily trading volume for the previous 15 trading days. The Maximum Advance Amount maybe increased upon consent of the Company and Investor.

	
 

	
 

	
Pricing Period:

	
The fifteen consecutive weekday trading days immediately after the date on which the Company provides an advance notice.

	
 

	
 

	
Market Price:

	
The lowest closing bid price of the Stock during the Pricing Period.

	
 

	
 

	
Purchase Price:

	
The Purchase Price shall be set at Ninety percent (90%) of Market Price.

	
 

	
 

	
No Short Sales:

	
The Investor will not engage in any short sales with respect to the common stock during the term of the Agreement.

	
Commitment

Shares:

	
 

The Company shall issue an Initial Commitment Fee in shares of restricted common stock equal to 5% of the REF Amount.

	
 

	
 

	
Safety Net Price:

	
The Company, at its option, may select a Safety Net Price for any specified Advance below which the Company will not sell shares to Investor under that Advance in which case the maximum volume of shares Advanced will be reduced pro-rata for any days the stock price trades below such Safety Net Price. The Investor shall have the option to purchase, and the Company shall sell to the Investor, up to such amount of additional shares as shall be obtained by multiplying an amount equal to the percent of the Advance Amount specified in the Advance Notice by the number excluded days. In the event the Investor exercises this option, the Purchase Price of such additional shares shall be equal to the Safety Net Price.

	
Structuring & Due

Diligence:

	
 

Upon execution of this Term Sheet, the Company agrees to pay Investor $30,000 worth of restricted stock as a non-refundable fee towards due diligence and preparation of the definitive documents. The pricing for the stock will be based off of the closing bid price one trading day before the term sheet is signed.

	
 

	
 

	
Registration:

	
The Company agrees to file a registration statement with the SEC to register the shares of common Stock that will be issued to the investor no later than Thirty (30) days after the signing of this term sheet.

	
 

	
 

	
Agreement:

	
The Agreements shall contain standard provisions for an offering of this type, including but not limited to typical representations, warranties, covenants, conditions and indemnifications of such offerings.

	
 

	
 

	
Confidentiality:

	
The Company agrees to keep this term sheet and its contents confidential and not to distribute it to, or discuss it with, any third party (other than the Company's legal and financial advisors, who shall be informed of the confidential nature of this document) without the prior express written consent of Investor.

	
 

	
 

	
 

	
Except for the Confidentiality Provision and the Document Preparation Fee, this confidential term sheet is non-binding and closing is subject to mutual agreement of final documentation between the Company and Investor.

	
Agreed and Accepted;

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
By the Company:

	
 

	
By Investor:

	
 

ANTOINE JARJOUR

	
 

	
 

ALLEN SILBERSTEIN

	
Antoine Jarjour, President

	
 

	
Allen Silberstein, CEO

	
 

	
 

	
 

	
Date:  06/06/13

	
 

	
Date:  06-07-13WSTL-EX10.25_2014.3.31

Exhibit 10.25

February 5, 2014

Mr. Scott T. Goodrich

Dear Scott,

I am very pleased that you will be joining us as President, Cellular Specialties, Inc., a subsidiary of Westell, Inc. (the “Company”).  Please note that this offer and all terms and conditions noted in this letter are contingent upon the Closing of the transactions contemplated in the Stock Purchase Agreement among Westell, Inc., Cellular Specialties, Inc., and the Shareholders of Cellular Specialties, Inc. (the “Agreement”).

Your start date will be the Closing Date under the Agreement.  Your salary for this position will be $250,000 per year ($9,615.38 per pay period).  Beginning in April 2014, or upon your hire date, whichever is later, you will be eligible for a Bonus Plan annual target of $125,000, in accordance with the appropriate FY2015 Westell Technologies, Inc. Bonus Plan, Cellular Specialties, Inc. (“Bonus Plan”).  The terms of the Bonus Plan will focus on the business plan for Cellular Specialties, Inc. and will be finalized by the Company prior to the Closing Date.  Any payouts for Bonus Plan will be pro-rated based upon your hire date within Westell’s fiscal year, which will commence on April 1, 2014 and ends March 31, 2015.

In addition to the compensation noted above, on your date of hire you will be awarded a grant of Restricted Stock Units for the equivalent of 150,000 shares of the stock of Westell Technologies, Inc.  The Restricted Stock Units will be governed by the Westell Technologies, Inc. 2004 Stock Incentive Plan, and will vest at 25% each year upon the anniversary of their grant.  A condition of vesting of each award is that you remain employed at the Company on the applicable vesting date.

This offer substitutes for and replaces all prior employment agreements between you and Cellular Specialties, Inc.  Upon the effectiveness of this offer, any prior agreements will be terminated and have no continuing force or effect.

This offer is contingent upon the successful completion of a pre-employment drug screening and a criminal background check, and upon your execution of the Confidential Information, Invention Assignment, and Non-Solicitation Agreement for Employee 

enclosed herewith.  This offer of employment is not a contract for employment for any set period of time.  

Please sign and date this letter, and return it to me, as acceptance of this offer.  We also ask that you promptly complete the enclosed paperwork, including the Confidential Information, Invention Assignment, and Non-Solicitation Agreement for Employee.  Please send the completed documents promptly to the attention of Sharon Hintz (shintz@westell.com or fax to 630-375-4940) as soon as possible. 

Sincerely,                        Accepted:

/s/ Richard S. Gilbert            /s/ Scott T. Goodrich            2/11/14    
Richard S. Gilbert            
Chief Executive Officer        _____________________            _______
      Scott T. Goodrich                      (date)Exhibit 10.68

 

 

NOTE MODIFICATION AGREEMENT

 

BY AND BETWEEN ALAN M. MECKLER

(“PAYEE”)

 

AND

 

MEDIABISTRO INC., MEDIABISTRO.COM SUBSIDIARY
INC.

AND INSIDE NETWORK, INC.

(COLLECTIVELY, “MAKER”)

 

 

EFFECTIVE DATE: May 19, 2014

 

On or about November 15, 2013 (the “Note
Date”), Maker executed a Second Amended and Restated Promissory Note (“Note”) in favor of Payee. The
Note was in the original principal face amount of Eight Million Seven Hundred Ninety-Four Thousand Six Hundred Four and 30/100
Dollars ($8,794,604.30), initially bearing interest at 5.50% per annum with a stated final maturity date of September 1, 2043.
The Note was amended by a Note Modification Agreement dated April 25, 2014, by and between Maker and Payee. Payee has agreed
to loan additional amounts to Maker, and Maker and Payee desire to amend the Note to reflect the new principal amount. Payee remains
the owner and holder of the Note and has agreed with Maker to modify certain provisions of the Note as set forth herein.

 

Now, therefore, in consideration of these premises
and the exchange of other good and valuable consideration, the receipt of which is hereby acknowledged, Payee and Maker agree to
modify the Note as follows:

 

1.The outstanding principal amount evidenced
by the Note as of the Effective Date is Nine Million Three Hundred Ninety-Four Thousand Six Hundred Four and 30/100 Dollars ($9,394,604.30).

 

2.The Note is hereby further amended by
replacing in its entirety Section 1(a) of the Note with the following:

 

“Commencing (i) as of May 1, 2014 on $9,094,604.30
of the outstanding principal amount of this Note and (ii) as of May 19, 2014 on $300,000.00 of the outstanding principal amount
of this Note, interest initially shall accrue at the rate of 5.50% per annum (the “Initial Rate”). Such Initial
Rate will be subject to change as set forth in Section 1(c) and Section 1(d) below. Interest shall be calculated for the actual
number of days elapsed on the basis of a 360 day year, including the first date of the applicable period to, but not including,
the date of repayment.”

 

3.By this Note Modification Agreement, all
liens, security interests, assignments, superior titles and priorities (collectively, “Liens”) securing the
Note are hereby ratified and confirmed by Maker as valid and subsisting and continue to secure the Note as modified herein. Nothing
in this Note Modification Agreement shall in any manner impair, diminish or extinguish any of the Liens or any covenant, condition,
agreement or stipulation in the Note or any pledge and/or security agreement, and the same except as herein modified shall continue
in full force and effect.

    	 

    	 

    

 

4.Except as hereby specifically amended,
modified or supplemented, the Note is hereby confirmed and ratified in all respects and remains in full force and effect according
to its respective terms. This Note Modification Agreement does not constitute a novation of the Note. When executed by Payee and
Maker, this Agreement shall be attached to and become a part of the Note.

 

5.This Note Modification Agreement shall
be binding upon and shall inure to the benefit of the heirs, successors and assigns of the respective parties hereto.

 

NOTICE OF FINAL AGREEMENT.

 

THIS WRITTEN AGREEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN
MAKER AND PAYEE WITH RESPECT TO THE SUBJECT MATTER HEREOF AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR
SUBSEQUENT ORAL AGREEMENTS BETWEEN MAKER AND PAYEE. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN MAKER AND PAYEE WITH RESPECT
TO THE SUBJECT MATTER HEREOF. 

 

[Signature Page Follows]

    	 

    	 

    

IN WITNESS WHEREOF, the undersigned have caused
this Note Modification Agreement to be executed under seal by Maker and Payee on this 19th day of May 2014.

 

Maker:

 

MEDIABISTRO INC.

 

 

By:/s/ Alan M. Meckler (SEAL)

Name: Alan M. Meckler

Title: CEO

 

 

MEDIABISTRO.COM SUBSIDIARY INC.

 

 

By:/s/ Alan M. Meckler (SEAL)

Name: Alan M. Meckler

Title: CEO

 

 

INSIDE NETWORK, INC.

 

 

By:/s/ Alan M. Meckler (SEAL)

Name: Alan M. Meckler

Title: CEO

 

 

Payee:

 

 

/s/ Alan M. Meckler (SEAL)

ALAN M. MECKLER

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}]]