Document:

Unassociated Document

    
      Exhibit
10.7

       

    

    
      FIRST
AGREEMENT OF AMENDMENTS (the “First Agreement
of Amendments”) of the Stock Purchase Agreement (the “SPA”)
executed as of July 20, 2010, by and among Corposa, S.A. de C.V., a Mexican
corporation (“Corposa”),
Marpesca, S.A. de C.V., a Mexican corporation (“Marpesca”),
Holshyrna ehf, an Icelandic corporation (“Holshyrna,”
and together with Corposa, the “Shareholders”),
Vilhelm Mar Gudmundsson (“Gudmundsson”),
Robert Gudfinnsson (“Gudfinnsson” and
together with Gudmundsson, the “Directors”),
Oceanic Enterprises, Inc., a California Corporation (“Oceanic”),
Baja Aqua Farms, S.A. de C.V., a Mexican corporation (the “Company”
and together with the Shareholders, Oceanic and the Directors, the “Selling
Parties”), and Lions Gate Lighting Corp. (currently named “UMAMI
SUSTAINABLE SEAFOOD”), a Nevada corporation (the “Buyer”),
pursuant to the following recitals and clauses:

      

      RECITALS

      

      WHEREAS,
a copy of the executed SPA is attached hereto as Exhibit “A” and the
parties to the SPA (the “Parties”)
wish to amend such SPA pursuant to the terms of this First Agreement of
Amendments.

      

      Hereinafter
and for clarity purposes capitalized terms shall have the meaning assigned to
them in the SPA except as otherwise expressly provided herein.

      

      NOW AND THEREFORE, the Parties
have agreed on the following:

      

      ARTICLES

      

      ARTICLE ONE. Amendments. The Parties agree the
following amendments to the SPA:

      

      
        
          	
                  1.1.

                	
                  As
      of the date hereof, Section 5.1 of the SPA shall be amended as
      follows:

                

        

      

       

       

      “5.1
Board
Matters.  Commencing on the date hereof until November 30th, 2010,
(a) the Board of Directors of the Company and Oceanic shall consist of three
members, and one of such members shall be Oli Valur Steindorsson and (b) without
the unanimous consent of the new Board of Directors, the Company shall
not:

       

      (i)
transfer more than 10% of its total fixed assets;

       

      (ii)
enter into any loan, credit or similar agreements, or issue any guarantees
outside of the ordinary course of business;

       

      (iii)
engage in any acquisitions or enter into any joint venture
agreements;

       

      (iv)
make investments in any Person outside the ordinary course of
business;

       

      (v)
take action that may make it difficult in any way for any of the parties hereto
to perform their respective obligations under any of the Transaction
Documents;

       

      (vi)
take any action that will cause the dissolution or liquidation of the Company or
will cause it to cease operations;

       

      (vii)
merge with any Person; and

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

         

      

      (viii)
pay any dividend, issue any stock, or repay any loans to any Person, except as
specifically permitted herein and listed on Section 5.1 of the Disclosure
Schedule or in Section 3.17 of the Disclosure Schedule.”

      

      
        
          	
                  1.2.

                	
                  In
      addition to the above amendments to the SPA, the Selling Parties and Buyer
      agree the following:

                

        

      

       

       

      
        	
              	
                (i)

              	
                Before
      November 30th,
      2010 the Shareholders and Buyer, as current shareholders of the Company,
      will hold and cause a shareholders’ meeting approving: (a) the reduction
      of the Company ́s capital stock in an amount of three million Dollars
      (USD$3,000,000) or its equivalent in Mexican pesos at the exchange rate
      published by the Bank of Mexico in the Official Gazette of the Federation
      (Diario Oficial de la
      Federación) the date of the shareholder ́s meeting, (b) the
      reimbursement by the Company of two million Dollars (USD$2,000,000) to
      Corposa and one million Dollars (USD$1,000,000) to Buyer as a result of
      the reduction of the capital stock approved, and (c) the cancellation of
      the shares held by Corposa and Buyer in the Company representing the stock
      reduced and cancelled.

              

      

       

      
        	
              	
                (ii)

              	
                Buyer
      shall cause or guarantee that the Company is financed to meet its payments
      owed to Corposa and Holshyrna deriving from capital reimbursements
      resolved by the Company and its Board of Directors, as well as of debts
      owed by the Company to Corposa and Holshyrna and disclosed to Buyer. To
      perform the foregoing, Buyer shall also have full access to all unpledged
      assets of the Company to secure or obtain any funding required pursuant to
      the cash flow budget of the Company pre-approved by Buyer and Shareholders
      which will be in force until November 30,
2010.

              

      

      

      ARTICLE TWO. Entire
Agreement. Except
as expressly amended by virtue of this First Agreement of Amendments, the
Parties hereby agree that the remaining terms and conditions of the SPA and its
exhibits and schedules shall be and remain in full force and effect. The
execution of this First Agreement of Amendments implies no performance or
extinguishment of the SPA.

      

      ARTICLE THREE. Notices. Any communication between
the Parties under this First Agreement of Amendments shall be made pursuant to
the terms and conditions of the SPA.

       

      ARTICLE FOUR.  Applicable
Law and Jurisdiction.

       

      (a) All
questions concerning the construction, validity, enforcement and interpretation
of this Agreement in connection with the Transactions Documents involving the
Company and its Subsidiaries shall be governed by and construed and enforced in
accordance with the internal laws of Mexico, without regard to the principles of
conflicts of law thereof.  Each party agrees that all legal
proceedings concerning the interpretations, enforcement and defense of the
transactions contemplated by this Agreement (whether brought against a party
hereto or its respective affiliates, directors, officers, shareholders,
employees or agents) shall be commenced exclusively in the state and federal
courts sitting in Guadalajara, Jalisco, Mexico and all parties hereto expressly
waive any other forum or jurisdiction that may apply or correspond to them by
virtue of law, their current or future domiciles or due to any other
cause.  Each party hereby irrevocably and waives personal service of
process and consents to process being served in any such suit, action or
proceeding by mailing a copy thereof via registered or certified mail or
overnight delivery (with evidence of delivery) to such party at the address in
effect for notices to it under this Agreement and agrees that such service shall
constitute good and sufficient service of process and notice
thereof.  Nothing contained herein shall be deemed to limit in any way
any right to serve process in any other manner permitted by law.  If
either party shall commence an action or proceeding to enforce any provisions of
this Agreement, then the prevailing party in such action or proceeding shall be
reimbursed by the other party for its reasonable attorneys’ fees and other costs
and expenses incurred with the investigation, preparation and prosecution of
such action or proceeding.

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

         

      

      (b) All
questions concerning the construction, validity, enforcement and interpretation
of this Agreement in connection with the Transactions Documents involving
Oceanic and its Subsidiaries shall be governed by and construed and enforced in
accordance with the internal laws of California, United States of America,
without regard to the principles of conflicts of law thereof.  Each
party agrees that all legal proceedings concerning the interpretations,
enforcement and defense of the transactions contemplated by this Agreement
(whether brought against a party hereto or its respective affiliates, directors,
officers, shareholders, employees or agents) shall be commenced exclusively in
the state and federal courts sitting in San Diego, California and all parties
hereto expressly waive any other forum or jurisdiction that may apply or
correspond to them by virtue of law, their current or future domiciles or due to
any other cause.  Each party hereby irrevocably and waives personal
service of process and consents to process being served in any such suit, action
or proceeding by mailing a copy thereof via registered or certified mail or
overnight delivery (with evidence of delivery) to such party at the address in
effect for notices to it under this Agreement and agrees that such service shall
constitute good and sufficient service of process and notice
thereof.  Nothing contained herein shall be deemed to limit in any way
any right to serve process in any other manner permitted by law.  If
either party shall commence an action or proceeding to enforce any provisions of
this Agreement, then the prevailing party in such action or proceeding shall be
reimbursed by the other party for its reasonable attorneys’ fees and other costs
and expenses incurred with the investigation, preparation and prosecution of
such action or proceeding.

      

      

      [Signature
Page to Follow]

      

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

         

      

      IN WITNESS WHEREOF, the
parties hereto have caused this Agreement to be duly executed and effective as
of September 24th, 2010.

      
        

        
          
            	 	
                    
                      BAJA
      AQUA-FARMS, S.A. DE C.V.

                    

                  	 
	 	 	 
	 	 	 	 
	
                     

                  	
                    By:
      

                  	 	 
	 	 	 	 
	 	 	 	 

          

          
            
              
                	 	
                        OCEANIC
      ENTERPRISES INC.

                      	 
	 	 	 
	 	 	 	 
	
                         

                      	
                        By:
      

                      	 	 
	 	 	 	 
	 	 	 	 

              

            

          

          
            	 	
                    CORPOSA
      S.A. DE C.V.

                  	 
	 	 	 
	 	 	 	 
	
                     

                  	
                    By:
      

                  	 	 
	 	 	 	 
	 	 	 	 

          

          
            	 	HOLSHYRNA ehf	 
	 	 	 
	 	 	 	 
	
                     

                  	
                    By:
      

                  	 	 
	 	 	 	 
	 	 	 	 
	 	 	 
	 	VILHELM MAR
      GUDMUNDSSON	 
	 	 	 	 
	 	 	 	 
	 	 	 
	 	ROBERT
    GUDFINNSSON	 
	 	 	 
	 	 	 

            
              	 	
                      (UMAMI
      SUSTAINABLE SEAFOOD formerly named “LIONS GATE LIGHTING
      CORP.”)

                    	 
	 	 	 
	 	 	 	 
	
                       

                    	
                      By:
      

                    	 	 
	 	 	 	 
	 	 	 	 

            

          

        

      

       

      
        
          
          

        

        
          4Unassociated Document

    
      Exhibit
10.8

    

     

    
      FIRST
AGREEMENT OF AMENDMENTS (the “First Agreement
of Amendments”) of the Option Agreement (the “Option
Agreement”) executed as of July 20, 2010, by and among Corposa, S.A. de
C.V., a Mexican corporation (“Corposa”),
Holshyrna ehf, an Icelandic corporation (“Holshyrna”),
Baja Aqua Farms, S.A. de C.V., a Mexican corporation (the “Company”),
and Lions Gate Lighting Corp. (currently named “UMAMI SUSTAINABLE SEAFOOD”), a
Nevada corporation (the “Optionee”
or “UMAMI”),
pursuant to the following recitals and clauses:

      

      RECITALS

      

      WHEREAS,
Optionee has made and Company and Holshyrna have received the Call Right Notice
in terms of Section 1 of the Option Agreement.

      

      WHEREAS,
a copy of the executed Option Agreement is attached hereto as Exhibit “A” and the
parties to the Option Agreement (the “Parties”)
wish to amend such Option Agreement pursuant to the terms of this First
Agreement of Amendments.

      

      Hereinafter
and for clarity purposes capitalized terms shall have the meaning assigned to
them in the Option Agreement except as otherwise expressly provided
herein.

      

      NOW AND THEREFORE, the Parties
have agreed on the following:

      

      ARTICLES

      

      ARTICLE ONE. Amendments. The Parties agree the
following amendments to the Option Agreement:

      

      
        	
                1.1.

              	
                As
      of the date hereof, Section 1 of the Option Agreement shall be amended as
      follows:

              

      

       

      

      “1.           Option Exercise; Funding;
Consent.

      

      (a)           Commencing
on the date hereof and ending on September 15, 2010 at 5.00 p.m. PDT, subject to
the terms and conditions set forth in this Agreement, the Optionee shall have
the right (the “Call
Right”), but not the obligation, upon written notice to the Company and
Holshyrna (the “Call
Right Notice”), to cause the Company and Holshyrna to sell and/or issue
to Optionee the Option Shares for the aggregate Option Price
therefor.  As used in this Agreement, the term “Option Price” means
an amount equal to US$9,333,000.00 Dollars for the Company Option Shares and
US$667,000.00 Dollars for the Oceanic Option Shares.  The Option Price
shall be payable by the issuance to the Company of 10,000,000 (Ten Million)
shares of common stock of LGLC (“Company-LGLC Common
Stock”).

      

      (b)
Each of Corposa and Holshyrna in its capacity of principal shareholder of the
Company and Oceanic Enterprises, Inc. hereby consents to the transactions
contemplated under this Agreement and undertakes to take all necessary action
and execute and deliver all documents to enable LGLC to acquire the Option
Shares by November 30th, 2010.
Such delivery of the Option Shares shall be made simultaneously with the
delivery of the Company-LGLC Common Stock held in escrow and shall be subject to
the following conditions: (x) Corposa and Holshyrna shares or stock in the
Company are totally cancelled and (y) the Company has no outstanding payments or
debts with Corposa and Holshyrna in connection with capital reimbursements
agreed by the Company."

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

         

      

      The
Parties confirm hereby that Optionee has exercised its Call Right and the
Company and Holshyrna acknowledged receipt of the Call Right Notice in terms of
the Option Agreement.

      

      ARTICLE TWO. Entire
Agreement. Except
as expressly amended by virtue of this First Agreement of Amendments, the
Parties hereby agree that the remaining terms and conditions of the Option
Agreement and its exhibits and schedules shall be and remain in full force and
effect. The execution of this First Agreement of Amendments implies no
performance or extinguishment of the Option Agreement.

      

      ARTICLE THREE. Notices. Any communication between
the Parties under this First Agreement of Amendments shall be made pursuant to
the terms and conditions of the Option Agreement.

       

      ARTICLE FOUR.  Applicable
Law and Jurisdiction. This Agreement shall be governed by and construed
solely and exclusively in accordance with and pursuant to the internal laws of
California without regard to the conflicts of laws principles thereof. The
parties hereto hereby expressly and irrevocably agree that any suit or
proceeding arising directly and/or indirectly pursuant to or under this
Agreement shall be brought solely in a court located in San Diego,
California,.  By its execution hereof, the parties hereby covenant and
irrevocably submit to the in personam jurisdiction of the courts located in
San Diego, California, and expressly and irrevocably waive any claim that any
such jurisdiction is not a convenient forum for any such suit or proceeding and
any defense or lack of in personam jurisdiction with respect thereto. In the
event of any such action or proceeding, the party prevailing therein shall be
entitled to payment from the other party hereto of all of its reasonable counsel
fees and disbursements.

       

      

      [Signature
Page to Follow]

      

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

         

      

      IN WITNESS WHEREOF, the
parties hereto have caused this Agreement to be duly executed and effective as
of September 24th, 2010.

      

      
        
          	 	
                  BAJA
      AQUA-FARMS, S.A. DE C.V.

                	 
	 	 	 
	 	 	 	 
	
                   

                	
                  By:
      

                	 	 
	 	 	 	 
	 	 	 	 

        

        
          	 	
                  CORPOSA
      S.A. DE C.V.

                	 
	 	 	 
	 	 	 	 
	
                   

                	
                  By:
      

                	 	 
	 	 	 	 
	 	 	 	 

        

        
          	 	HOLSHYRNA ehf	 
	 	 	 
	 	 	 	 
	
                   

                	
                  By:
      

                	 	 
	 	 	 	 
	 	 	 	 

          
            	 	
                    (UMAMI
      SUSTAINABLE SEAFOOD formerly named “LIONS GATE LIGHTING
      CORP.”)

                  	 
	 	 	 
	 	 	 	 
	
                     

                  	
                    By:
      

                  	 	 
	 	 	 	 
	 	 	 	 

          

        

      

      

      
        
          
          

        

        
          3

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