Document:

Exhibit 4.1

Exhibit 4.1

SEVENTH SUPPLEMENTAL INDENTURE

dated as of April 24, 2014

between

KIMCO REALTY CORPORATION

and

THE BANK OF NEW YORK MELLON, as Trustee

                                              

SENIOR DEBT SECURITIES

of

KIMCO REALTY CORPORATION

                                              

THIS SEVENTH SUPPLEMENTAL INDENTURE is entered into as of April 24, 2014 (the “Seventh Supplemental Indenture”), by and between Kimco Realty Corporation, a Maryland corporation (the “Company”), and The Bank of New York Mellon (as successor to IBJ Schroder Bank & Trust Company), a banking corporation organized under the laws of the State of New York, as trustee (the “Trustee”).

WHEREAS, Kimco Realty Corporation, a Delaware corporation and predecessor to the Company (the “Delaware Company”), and the Trustee entered into the Indenture dated as of September 1, 1993 (the “Original Indenture”), relating to the Delaware Company’s senior debt securities;

WHEREAS, the Company and the Trustee entered into the First Supplemental Indenture dated as of August 4, 1994 (the “First Supplemental Indenture”), pursuant to which the Company assumed all obligations of the Delaware Company under the Original Indenture pursuant to Section 801 of the Original Indenture;

WHEREAS, the Company and the Trustee entered into the Second Supplemental Indenture dated as of April 7, 1995 (the “Second Supplemental Indenture”), pursuant to which certain provisions of the Indenture were amended and certain additional provisions to the Indenture were added for the benefit of Holders of all series of Securities created on or after April 7, 1995 in accordance with Section 901 of the Indenture;

WHEREAS, the Company and the Trustee entered into the Third Supplemental Indenture dated as of June 2, 2006 (the “Third Supplemental Indenture”), pursuant to which certain provisions of the Indenture were amended and certain additional provisions to the Indenture were added for the benefit of Holders of all series of Securities created on or after June 2, 2006 in accordance with Section 901 of the Indenture;

WHEREAS, the Company and the Trustee entered into the Fourth Supplemental Indenture dated as of April 26, 2007 (the “Fourth Supplemental Indenture”), pursuant to which certain provisions of the Indenture were amended and certain additional provisions to the Indenture were added for the benefit of Holders of all series of Securities created on or after April 26, 2007 in accordance with Section 901 of the Indenture;

WHEREAS, the Company and the Trustee entered into the Fifth Supplemental Indenture dated as of September 24, 2009 (the “Fifth Supplemental Indenture”), pursuant to which certain provisions of the Indenture were amended and certain additional provisions to the Indenture were added for the benefit of Holders of all series of Securities created on or after September 24, 2009 in accordance with Section 901 of the Indenture;

WHEREAS, the Company and the Trustee entered into the Sixth Supplemental Indenture dated as of May 23, 2013 (the “Sixth Supplemental Indenture” and, together with the Original Indenture, the First Supplemental Indenture, the Second Supplement Indenture, the Third Supplemental Indenture, the Fourth Supplemental Indenture and the Fifth Supplemental Indenture, the “Indenture”), pursuant to which certain provisions of the Indenture were amended and certain additional provisions to the Indenture were added for the benefit of Holders of all series of Securities created on or after May 23, 2013 in accordance with Section 901 of the Indenture;

WHEREAS, the Company has made a request to the Trustee that the Trustee join with it, in accordance with Sections 301 and 901 of the Indenture, in the execution of this Seventh Supplemental Indenture to establish the terms of Securities of all series created on or after the date of this Seventh Supplemental Indenture as permitted by Section 301 and Section 901 of the Indenture; and

WHEREAS, the Company and the Trustee are authorized to enter into this Seventh Supplemental Indenture.

NOW, THEREFORE, the Company and the Trustee agree as follows:

Section 1.  Relation to Indenture.  This Seventh Supplemental Indenture amends and supplements the Indenture and shall be part and subject to all the terms thereof.  Except as amended and supplemented hereby, the Indenture and Securities issued thereunder shall continue in full force and effect.

Section 2.  Definitions.  Each term used herein which is defined in the Indenture has the meaning assigned to such term in the Indenture unless otherwise specifically defined herein, in which case the definition set forth herein shall govern.

Section 3.  Definition of Unencumbered Total Asset Value. The definition of “Unencumbered Total Asset Value” contained in Section 101 of the Indenture is hereby amended in its entirety for the Securities of all series created on or after the date of this Seventh Supplemental Indenture as follows:

“Unencumbered Total Asset Value” as of any date means the sum of the Company’s Total Assets that are unencumbered by any mortgage, lien, charge, pledge or security interest that secures the payment of any obligations under any Debt; provided, however, that in determining Unencumbered Total Asset Value for purposes of Section 1014 of the Indenture, (i) all investments by the Company and any of the Subsidiaries in unconsolidated joint ventures shall be excluded from the Company’s Total Assets and (ii) the Company’s Total Assets shall include the Company’s proportionate interest in the aggregate book value of the real estate assets held by the Company’s and the Subsidiaries’ unconsolidated joint ventures, before depreciation and amortization, that are not encumbered by any mortgage, lien, charge, pledge or security interest that secures the payment of any obligations under any of its indebtedness; for the avoidance of doubt, all other assets of unconsolidated joint ventures shall be excluded from the Company’s Total Assets.

Section 4.  Counterparts.  This Seventh Supplemental Indenture may be executed in counterparts, each of which shall be deemed an original, but all of which shall together constitute one agreement binding on all parties hereto, notwithstanding that all the parties have not signed the same counterpart.

Section 5. Trustee’s Acceptance.  The Trustee hereby accepts this Seventh Supplemental Indenture and agrees to perform the same under the terms and conditions set forth in the Indenture.

Section 6.  Reference to the Effect on the Indenture.

(a)

On and after the effective date of this Seventh Supplemental Indenture, each reference in the Indenture to “this Indenture,“ “hereunder,” “hereof,” or “herein” shall mean and be a reference to the Indenture as supplemented by this Seventh Supplemental Indenture unless the context otherwise requires.

(b)

Except as specifically modified or amended by this Seventh Supplemental Indenture, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. Upon the execution and delivery of this Seventh Supplemental Indenture by the Company and the Trustee, this Seventh Supplemental Indenture shall form a part of the Indenture for all purposes. Any and all references, whether within the Indenture or in any notice, certificate or other instrument or document, shall be deemed to include a reference to this Seventh Supplemental Indenture (whether or not made), unless the context shall otherwise require.

Section 7.  Governing Law.  THIS SEVENTH SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS PRINCIPLES THEREOF).

Section 8. Trust Indenture Act Controls.  If any provision of this Seventh Supplemental Indenture limits, qualifies or conflicts with another provision of this Seventh Supplemental Indenture or the Indenture that is required to be included by the Trust Indenture Act of 1939, as amended (the “Act”), as in force at the date this Seventh Supplemental Indenture is executed, the provision required by the Act shall control.

Section 9.  Benefits of Seventh Supplemental Indenture or the Securities.  Nothing in this Seventh Supplemental Indenture or the Securities, express or implied, shall give to any Person, other than the parties hereto and thereto and their successors hereunder and thereunder and the Holders of the Securities, any benefit of any legal or equitable right, remedy or claim under the Indenture, this Seventh Supplemental Indenture or the Securities.

Section 10. Successors.  All agreements of the Company in this Seventh Supplemental Indenture shall bind its successors. All agreements of the Trustee in this Seventh Supplemental Indenture shall bind its successors.

Section 11.  Concerning the Trustee.  The Trustee shall not be responsible for any recital herein (other than the ninth recital as it applies to the Trustee) as such recitals shall be taken as statements of the Company, or the validity of the execution by the Company of this Seventh Supplemental Indenture.  The Trustee makes no representations as to the validity or sufficiency of this Seventh Supplemental Indenture.

Section 12.  Certain Duties and Responsibilities of the Trustee.  In entering into this Seventh Supplemental Indenture, the Trustee shall be entitled to the benefit of every provision of the Indenture relating to the conduct or affecting the liability or affording protection to the Trustee, whether or not elsewhere herein so provided.

Section 13.  Titles.  Section titles are for descriptive purposes only and shall not control or alter the meaning of this Seventh Supplemental Indenture as set forth in the text.

Section 14.  Severability.  In case any one or more of the provisions in this Seventh Supplemental Indenture shall be held invalid, illegal or unenforceable, in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions shall not in any way be affected or impaired thereby, it being intended that all of the provisions hereof shall be enforceable to the full extent permitted by law.

IN WITNESS WHEREOF, Kimco Realty Corporation has caused this Seventh Supplemental Indenture to be duly signed and acknowledged by its Chief Financial Officer hereunto duly authorized, and the same to be attested by its Secretary or Assistant Secretary and The Bank of New York Mellon has caused this Seventh Supplemental Indenture to be duly signed by one of its Vice Presidents thereunto duly authorized.

				
	 
	 
	KIMCO REALTY CORPORATION,

	 
	 
	a Maryland corporation

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	By:

	/s/ Glenn G. Cohen

	 
	 
	Name:

	Glenn G. Cohen

	 
	 
	Title:

	Chief Financial Officer

	 
	 
	 
	 

	 
	 
	 
	 

	Attest:

	 
	 
	 

	 
	 
	 
	 

	By:

	/s/ Bruce Rubenstein

	 
	 

	Name:

	Bruce Rubenstein

	 
	 

	Title:

	Secretary

	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	THE BANK OF NEW YORK MELLON, as Trustee

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	By:

	/s/ Laurence J. O’Brien

	 
	 
	Name:

	Laurence J. O’Brien

	 
	 
	Title:

	Vice President

[Signature Page to Seventh Supplemental Indenture]Exhibit 10.17

Exhibit 10.17

NON-COMPETITION AGREEMENT

THIS NON-COMPETITION AGREEMENT (this “Agreement”) is made and entered into as of April 18, 2014 by and among SYSOREX GLOBAL HOLDINGS CORP., a Nevada corporation (“Acquiror”), AirPatrol Corporation (“AirPatrol”) and Cleve Adams (“Obligor”).  The Closing Date (as defined in the Merger Agreement (as defined below)) shall be the “Effective Date” of this Agreement. 

RECITALS

A.

Acquiror is acquiring AirPatrol in a merger transaction (the “Merger”) involving the payment of merger consideration in the form of Acquiror common stock and cash; upon consummation of the Merger (“Closing Date”), AirPatrol shall become a wholly-owned subsidiary of the Acquiror (the Acquiror and AirPatrol on a post-transaction basis is referred to as the “Combined Company”).  

B. 

AirPatrol is a developer of platforms and tools for location based wireless detection systems and context aware systems using AirPatrol technologies (the “Business”).  

C.  

The undersigned Obligor is an employee and officer of AirPatrol, who possesses critical knowledge and skills relating to AirPatrol’s technology, products, services and operations.  

D.  

This Non-Competition Agreement is being entered into between the Acquiror and Obligor as a condition of closing pursuant to the Agreement and Plan of Merger dated December 20, 2013 (the “Merger Agreement”) by and among the Acquiror, AirPatrol Acquisition Corp. I, AirPatrol Acquisition Corp. II, AirPatrol and Shareholder Representative Services LLC, solely in its capacity as the representative of the shareholders of AirPatrol, pursuant to which the Acquiror shall become the indirect sole shareholder and parent corporation of AirPatrol, and the pre-merger AirPatrol shareholders and key persons shall receive merger consideration consisting of cash and Acquiror stock.  The Merger Agreement, together with each of the exhibits attached thereto, are hereinafter collectively referred to as the “Transaction Documents.”  

E.  

AirPatrol and the Obligor have valuable knowledge, relationships, experience and expertise in the management and operation of the Business, and in order to induce the Acquiror to enter into the Merger Agreement, and to preserve the value of the business being acquired by the Acquiror in the Merger, the Obligor has agreed to the terms of this Agreement effective on the Effective Date.

AGREEMENT

NOW, THEREFORE, in consideration of the mutual promises made herein, Acquiror, AirPatrol and the Obligor hereby agree as follows:

1.

Covenant Not to Compete or Solicit.

(a)

Beginning on the Effective Date and ending on the third (3rd) anniversary of the Closing Date of the Merger (the “Non-Competition Period”), Obligor shall not, other than on behalf of the Combined Company, directly or indirectly, without the prior written consent of the Combined Company: (i) engage in, anywhere in North America, or any other jurisdiction in which AirPatrol,  conducts business (the “Restricted Area”), whether as an employee, agent, consultant, advisor, independent contractor, proprietor, partner, officer, director or otherwise, or have any ownership interest in (except for ownership of three percent (3%) or less of any publicly-held entity), or participate in or facilitate the financing, operation, management or control of, any firm, partnership, corporation, entity or business that engages or participates in a Competing Business Activity (as defined below); or (ii) interfere with the business of the Combined Company or approach, contact or solicit customers, vendors, employees, contractors, shareholders or other affiliates of the Combined Company, in connection with a Competing Business Activity.  For purposes of this Agreement, “Competing Business Activity” shall mean engaging in, whether independently or as an employee, agent, consultant, advisor, independent contractor, partner, officer, director or otherwise, any business which is materially competitive with the Business as conducted or actively planned to be conducted by AirPatrol during the Non-Competition Period, or disclosure or use of the Confidential Material or Proprietary Information for any purpose which is materially competitive with the business of Acquiror, AirPatrol or the Combined Company. 

NON-COMPETITION AGREEMENT

(b)

Beginning on the Effective Date and ending on the third (3rd) anniversary of the Closing Date of the Merger (the “Non-Solicitation Period”), Obligor shall not, directly or indirectly, without the prior written consent of Acquiror, solicit, encourage or take any other action which is intended to induce or encourage, or has the effect of inducing or encouraging, any employee of the Combined Company, or any subsidiary or affiliate of the foregoing, to terminate his or her employment with the Combined Company, or any subsidiary or affiliate thereof.  Notwithstanding the foregoing, for purposes of this Agreement, the placement of general advertisements or on-line notifications that may be targeted to a particular geographic, social networking or technical area but that are not specifically targeted toward employees of the Combined Company shall not be deemed to be a breach of this Section 1(b).

(c)

The covenants contained in Section 1(a) hereof shall be construed as a series of separate covenants, one for each country, province, state, city or other political subdivision of the Restricted Area.  Except for geographic coverage, each such separate covenant shall be deemed identical in terms to the covenant contained in Section 1(a) hereof.  If, in any judicial proceeding, a court refuses to enforce any of such separate covenants (or any part thereof), then such unenforceable covenant (or such part) shall be eliminated from this Agreement to the extent necessary to permit the remaining separate covenants (or portions thereof) to be enforced.  In the event that the provisions of this Section 1 are deemed to exceed the time, geographic or scope limitations permitted by applicable law, then such provisions shall be reformed to the maximum time, geographic or scope limitations, as the case may be, permitted by applicable laws.

(d)

Obligor acknowledges that (i) the goodwill associated with the existing business, customers and assets of AirPatrol prior to the Acquisition, including but not limited to the trade secrets and know-how possessed by the staff of AirPatrol, is an integral component of the value of the Acquired Assets to Acquiror, and (ii) Obligor’s agreement as set forth herein is necessary to preserve the value of the Acquired Assets following the Acquisition.  Obligor also acknowledges that the limitations of time, geography and scope of activity agreed to in this Agreement are reasonable because, among other things: (A) the AirPatrol and Acquiror are engaged in a highly competitive industry and market segment, (B) Obligor has unique access to, and will continue to have access to, Confidential Material and Proprietary Information, which includes without limitation, trade secrets, know-how, plans and strategy of Acquiror, AirPatrol and the Combined Company, (C) Obligor is receiving significant consideration in connection with the Acquisition, (D) the Obligor is not dependent upon use of the Acquired Assets, or Confidential Material or Proprietary Information, to earn a livelihood in a trade or business, and would be able to obtain suitable and satisfactory employment or engagement without violation of this Agreement, (E) the market for the products and services now offered or to be offered by the Combined Company is worldwide, and (F) the Acquiror and AirPatrol now conducts, and the Combined Company is expected to conduct, business in North America, while most of the competitors or potential competitors of the Combined Company are located in North America.

(e)

For purposes of this Agreement, “Confidential Material” shall mean customer lists, product design information, performance standards and other confidential information of the Acquiror and AirPatrol or licensed to the Combined Company, including without limitation trade secrets, copyrighted materials and/or financial information of the Combined Company (or any of its Affiliates), including without limitation, financial statements, reports and data; however, Confidential Material does not include any general know-how nor any of the foregoing items which has become publicly known or made generally available through no wrongful act of Obligor or of others who were under known confidentiality obligations as to the item or items involved.

(f)

For purposes of this Agreement, “Proprietary Information” shall mean any information, observation, data, written material, record, document, software, algorithm, code, sequence, firmware, invention, discovery, improvement, development, tool, machine, apparatus, appliance, design, promotional idea, customer list, practice, process, formula, method, technique, trade secret, product and/or research related to the actual or anticipated research, marketing strategies, pricing information, business records, development, products, organization, business or finances of the Acquiror, AirPatrol or the Combined Company.

2.

Miscellaneous.

(a)

Governing Law; Consent to Personal Jurisdiction.  This Agreement shall be governed by the laws of the State of California without reference to rules of conflicts of law.  Obligor hereby consents to the personal jurisdiction of the state and federal courts located in California for any action or proceeding arising from or relating to this Agreement or relating to any arbitration in which the parties are participants. 

(b)

Severability.  If any portion of this Agreement is held by a court of competent jurisdiction to conflict with any federal, state or local law, or to be otherwise invalid or unenforceable, such portion of this Agreement shall be of no force or effect and this Agreement shall otherwise remain in full force and effect and be construed as if such portion had not been included in this Agreement.

2

(c)

No Assignment.  Because the nature of the Agreement is specific to the actions of Obligor, Obligor may not assign this Agreement.  This Agreement shall inure to the benefit of Acquiror and its successors and assigns.

(d)

Notices.

All notices, consents and other communications hereunder shall be in writing and shall be deemed to have been given when delivered personally, on the next business day when sent overnight by Federal Express or other nationally recognized overnight courier service, or five (5) days after being mailed if mailed by first-class, registered or certified mail, postage prepaid, addressed (a) if to Obligor, at PO Box 1311, San Clemente, California 92674; or at such other address or addresses as Obligor shall have furnished to the Acquiror in writing, or (b) if to the Acquiror, at Attn: Chief Executive Officer, Sysorex Global Holdings Corp., 3375 Scott Blvd., Suite 440, Santa Clara, CA 95054, or at such other address as the Acquiror shall have furnished to Obligor in writing.  A copy of all notices sent to Acquiror shall also be sent to Attn: Nimish Patel, Richardson & Patel LLP, 1100 Glendon Avenue, Suite 850, Los Angeles, California 90024, facsimile (310) 208-1154.  A copy of all notices sent to Obligor shall also be sent to Attn: Paul Sieben, O’Melveny & Myers LLP, 2765 Sand Hill Road, Menlo Park, California 94025, at facsimile (650) 473-2601.

(e)

Entire Agreement.  This Agreement contains the entire agreement and understanding of the parties and supersedes all prior discussions, agreements and understandings relating to the subject matter hereof.  This Agreement may not be changed or modified, except by an agreement in writing executed by Acquiror and Obligor.

(f)

Waiver of Breach.  The waiver of a breach of any term or provision of this Agreement, which must be in writing, shall not operate as or be construed to be a waiver of any other previous or subsequent breach of this Agreement.

(g)

Headings.  All captions and section headings used in this Agreement are for convenience only and do not form a part of this Agreement.

(h)

Counterparts.  This Agreement may be executed in counterparts, and each counterpart shall have the same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned.

(i)

Termination.  This Agreement shall terminate upon the third (3rd) anniversary of the Closing Date of the Merger.

[Remainder of Page Left Blank Intentionally]

3

IN WITNESS WHEREOF, the Parties have executed this Non-Competition Agreement as of the date first written above.

				
	ACQUIROR:

	 
	SYSOREX GLOBAL HOLDINGS CORP.

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	By:

	 

	 
	 
	 
	Nadir Ali

	 
	 
	 
	Chief Executive Officer

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	AIRPATROL:

	 
	AIRPATROL CORPORATION

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	By:

	 

	 
	 
	 
	Cleve Adams

	 
	 
	 
	Chief Executive Officer

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	OBLIGOR:

	 
	 

	 
	 
	Signature

	 
	 
	 

	 
	 
	Cleve Adams

	 
	 
	Print Name

	 
	 
	 

	 
	 
	 

	 
	 
	Address:

	 
	 
	 

	 
	 
	PO Box 1311

	 
	 
	 

	 
	 
	San Clemente, CA 92674

4

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