Document:

Exhibit 10.23b

 

Estee Lauder Inc.

767 Fifth Avenue

New York, NY 10153

 

 

Effective as of July 1, 2016

 

 

Aerin Lauder Zinterhofer

c/o Aerin LLC

595 Madison Avenue

5th Floor

New York, NY 10022

 

 

Re: Creative Consultant Agreement

 

 

Dear Ms. Lauder:

 

This letter, when signed by the respective parties, will constitute an amendment (“Second Amendment”) to the agreement dated April 6, 2011, as amended effective as of November 1, 2015, between Estée Lauder, Inc. (“Estée Lauder”) and Aerin Lauder Zinterhofer (together the “Agreement”).  Capitalized terms used and not otherwise defined herein have the meanings assigned to such terms in the Agreement.

 

 

1. Amendments. In consideration of the premises and of the mutual covenants and agreements herein contained and other valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follow:

 

 

a.   Section 2.A. Term of the Agreement is hereby amended by replacing  Paragraph 2A with the following:

 

The initial term of this Agreement shall begin upon the execution of this Agreement by all parties and shall end on June 30, 2021(“Term).The Term is comprised of the First Period, the Second Period, the Third Period, the Fourth period, the Fifth Period, the Sixth Period, the Seventh Period, the Eight Period, the Ninth Period, the Tenth Period and the Eleventh Period.  The First Period of this Agreement shall commence upon the execution of this Agreement by all parties and shall end on June 30, 2011.  The Second Period shall commence on July 1, 2011 and shall end on June 30, 2012. The Third Period shall commence on July 1, 2012, and shall end on June 30, 2013.  The Fourth Period shall commence on July 1, 2013 and shall end on June 30, 2014.  The Fifth Period shall begin on July 1, 2014 and shall end on June 30, 2015. The Sixth Period shall begin on July 1, 2015 and shall end on June 30, 2016. The Seventh Period shall commence on July 1, 2016 and shall end on June 30, 2017.  The Eighth Period shall commence on July 1, 2017 and shall end on June 30, 2018.  The Ninth Period shall commence on July 1, 2018 and shall end on June 30, 2019.  The Tenth Period shall commence on July 1, 2019 and shall end on June 30, 2020.  The Eleventh Period shall commence on July

 

Page 1 of 3

 

1, 2020 and shall end on June 30, 2021 (The First Period through and including the Eleventh Period shall individually be referred to hereinafter as a Contract Year).

 

b.  Section 2.B. Term of the Agreement is hereby amended by replacing  the end of Term date of June 30, 2016 with June 30, 2021.

 

 

c.   Section 5.A Personal Appearances of the Agreement is hereby amended  by amending the last sentence of Section 5.A.:

 

Notwithstanding the foregoing, the parties agree that beginning in the Sixth Period, the Consultant shall be required to provide no more than twenty-five (25) Service Days per Contract Year.

 

d.  Section 7.A Fees and Expenses of the Agreement is hereby amended by adding the following sentence to the end of Section 7.A.:

 

The parties agree that for the Seventh Period, the Fee shall be Five Hundred and Eighty-One Thousand Two Hundred and Fifty-Seven Dollars ($581,257); for the Eighth Period, the Fee shall be Six Hundred and Four Thousand Five Hundred and Seven Dollars ($604,507); for the Ninth Period the Fee shall be Six Hundred and Twenty-Eight Thousand Six Hundred and Eighty-Eight Dollars ($628,688); for the Tenth Period the Fee shall be Six Hundred and Fifty-Three Thousand Eight Hundred and Thirty-Six Dollars ($653,836); and for the Eleventh Period the Fee shall be Six Hundred and Seventy-Nine Thousand Nine Hundred and Eighty-Nine Dollars ($679,989).

 

e.  Section 7.C Additional Day Fee of the Agreement is hereby amended by adding the following sentence to the end of Section 7.C.:

 

The parties agree that for the Seventh Period, the Additional Day Fee shall be Twenty-Five Thousand Dollars ($25,000); for the Eighth Period, the Additional Day Fee shall be Twenty-Six Thousand Dollars ($26,000); for the Ninth Period the Additional Day Fee shall be Twenty-Seven Thousand Dollars ($27,000); for the Tenth Period the Additional Day Fee shall be Twenty-Eight Thousand Dollars ($28,000); and for the Eleventh Period the Additional Day Fee shall be Twenty-Nine Thousand Dollars ($29,000).

 

2. Counterparts. This Amendment may be executed in multiple counterparts and by facsimile or email, each of which, when executed and delivered to the other party, shall be deemed an original and all of which together shall be deemed one and the same instrument.

 

3.   Agreement. Except as specifically amended herein, the Agreement shall  remain in full force and effect

 

Page 2 of 3

 

Please confirm you acceptance of the foregoing by signing where indicated below and returning a signed copy of this letter to us.

 

	
 
    	
Very truly yours,
    
	
 
    	
Estee Lauder Inc.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Jane Hertzmark Hudis
    
	
 
    	
Name:
    	
Jane   Hertzmark Hudis
    
	
 
    	
Title:
    	
Group   President
    

 

 

	
ACCEPTED AND AGREED TO:
    
	
THIS 16th DAY OF   AUGUST, 2016
    
	
 
    
	
/s/   Aerin Lauder Zinterhofer
    	
 
    	
 
    	
 
    
	
Name: Aerin Lauder Zinterhofer
    	
 
    	
 
    
						

 

Page 3 of 3Exhibit 10.1

 

SECOND LOAN MODIFICATION
AGREEMENT

 

This Second
Loan Modification Agreement (this "Loan Modification Agreement") is entered into as of August 22, 20 !6, by and among
SOLAR SOLUTIONS AND DISTRIBUTION, LLC, a Colorado limited liability company ("Lender"), and REAL GOODS SOLAR, INC.,
a Colorado corporation ("RGS"), RGS FINANCING, INC., a Colorado corporation ("RGSF"), REAL GOODS ENERGY TECH,
INC., a Colorado corporation ("Real Goods Energy"), ALTERIS RENEW ABLES, INC., a Delaware corporation ("Aiteris")
and REAL GOODS SYNDICATED, INC., a Delaware corporation ("Syndicated"), MERCURY ENERGY, INC., a Delaware corporation
("Mercury"), REAL GOODS SOLAR, INC. -MERCURY SOLAR, a New York corporation ("Mercury Solar"), ELEMENTAL ENERGY,
LLC, a Hawaii limited liability company ("Elemental"), and SUNETRIC MANAGEMENT LLC, a Delaware limited liability company
("Sunetl"ic", and together with RGS, RGSF, Real Goods Energy, Alteris, Syndicated, Mercury, Mercury Solar, Elemental,
and Sunetric individually and collectively, jointly and severally, the "Borrower").

 

		1.	DESCRIPTION
                                         OF EXISTING INDEBTEDNESS AND OBLIGATIONS.  Among other indebtedness and
                                         obligations which may be owing by Borrower to Lender, Borrower is indebted to Lender
                                         pursuant to a loan arrangement dated as of March 30, 2016, evidenced by, among other
                                         documents, that certain Amended and Restated Loan Agreement as first amended effective
                                         May 19, 2016 (the "Loan Agreement"). Capitalized terms used but not otherwise
                                         defined herein shall have the same meaning as in the Loan Agreement.

 

		2.	DESCRIPTION
                                         OF COLLATERAL. Repayment of the Obligations is secured by: (i) the Collateral as
                                         described in the Loan Agreement; (ii) the "Intellectual Property Collateral,"
                                         as such term is defined in that certain IP Agreement, dated as of September 26, 2013,
                                         by and between Lender, as successor-in-interest to Silicon Valley Bank, and Borrower;
                                         and (iii) the "Intellectual Property Collateral," as such term is defined in
                                         that certain IP Agreement, dated as of June 6, 2014, by and between Lender, as successor-in-interest
                                         to Silicon Valley Bank, and Borrower (together with any other collateral security granted
                                         to Lender, the "Security Documents").

 

		3.	DESCRIPTION OF CHANGE IN TERMS.

 

		a.	Modifications to Loan Agreement.

 

		i.	The
                                         Loan Agreement shall be amended by deleting the subparagraphs numbered 2, 3 and 4 in
                                         the definition of Eligible Accountsin Section 13.1, Definitions, and
                                         replacing those subparagraphs in their entirety with the following:

 

 

 

     

     

    

 

SECOND LOAN MODIFICATION AGREEM ENT

Page:
2

 

	 	2. Cmmnercia! Retention
    for the Stockton School District Project	N/A

         

        >later of 10/l/16 or 270 days
	100%

         

        50%

	 	 	>later
     of  I 1/30/16 or 360 days	0%
	 	 	 	 
	 	3.Spccific commercial receivables -

        Stockton Unified School District
	N/A	100%
	 	 	>later
    of 10/1116 or 270 days	50%
	 	 	>
    later of 11130116 or 360 days	0%
	 	 	 	 
	 	4. Specific commercial receivable- Kona Resort	N/A

         

        >later of 10/l/16 or 270 days
	100%

         

        50%

	 	 	>later
    of 11130/16 or 360 days	0%

 

		4.	CONSISTENT CHANGES. The
                                         Loan Documents are hereby amended wherever necessary to reflect the changes described
                                         above.

 

		5.	NO DEFENSES OF BORROWER. Borrower
                                         hereby acknowledges and agrees that Borrower has no offsets, defenses, claims, or counterclaims
                                         against Lender with respect to the Obligations, or otherwise, and that if Borrower now
                                         has, or ever did have, any offsets, defenses, claims, or counterclaims against Lender,
                                         whether known or unknown, at law or in equity, all of them are hereby expressly WAIVED
                                         and Borrower hereby RELEASES Lender from any liability thereunder.

 

		6.	CONTINUING VALIDITY. Except
                                         as expressly waived pursuant to this Loan Modification Agreement, the tet·ms of
                                         the Loan Documents shall remain unchanged and in fully force and effect. Nothing in this
                                         Loan Modification Agreement shall constitute a satisfaction of the Obligations. It
                                         is the intention of Lender and Borrower to retain as liable parties all makers
                                         of the Loan Documents, unless the party is expressly released by Lender in writing. No
                                         maker will be released by virtue of this Loan Modification Agreement.

 

		7.	JURISDICTION/VENUE. Section
                                         11 of the Loan Agreement is hereby incorporated by reference.

 

		8.	NON-DISPARAGEMENT.    
                                         Neither party shall disparage the other patiy's performance or otherwise take any action
                                         which could reasonably be expected to adversely affect such other party's personal or
                                         professional reputation or that of any of such other party's directors, officers, agents
                                         or employees. This provision shall survive termination of the Loan Agreement.

  

[Remainder of page intentionally left blank.]

 

 

 

    	 	2	 

     

    

 

SECOND LOAN MODIFICATION AGREEM ENT

Page:
3

 

		9.	COUNTERSIGNATURE.
                                         Upon mutual execution and exchange of this Loan Modification Agreement , this Loan
                                         Modification Agreement shall be effective as of Au gust 19, 2016

 

This Loan Modificati on Agreement is executed as of
the date first written above.

 

BORROWERS

 

REAL GOODS ENERGY TECH, INC., REAL GOODS
SYNDICATED, INC., REAL GOODS SOLAR, INC, ALTERIS RENEW ABLES, INC., MERCURY ENERGY, INC., ELEMENTAL ENERGY, INC., REAL GOODS
SOLAR, INC.- MERCURY SOLAR, AND SUNETRIC MANAGEMENT, LLC

 

All
of the above named entitled by each of their respective Chief Executive Officers

 

	By:	/s/ Dennis Lacey	 

	Name:	Dennis Lacey	 

	Title:	Chief
    Executive Officer or each of the above named entities	 

 

	LENDER:	 
	 	 
	SOLAR SOLUTIONS
    AND DISTRIBUTIONS, LLC
	 	 	 
	By:	/s/ DJ Alemayehu	 

	Name:	DJ Alemayehu	 

 

Its duly authorized
representative    

 

    	 	3

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