Document:

Exhibit 10.1

 

 

 

    	 	 	 

    	 

    

 

 

 

    	 	 	 

    	 

    

 

 

 

    	 	 	 

    	 

    

 

 

 

    	 	 	 

    	 

    

 

 

 

    	 	 	 

    	 

    

 

 

 

    	 	 	 

    	 

    

 

 

 

    	 	 	 

    	 

    

 

 

DEBT RESTRUCTURING AGREEMENT THIS DEBT RESTRUCTURING AGREEMENT (this
"Agreement"), dated as of September 30, 2016 (the "Effective Date"), is made by and among Stephen Brock ("Brock")
and K. Brock & S Brock General Partners trustee of Brock Family Trust, K. Brock & S Brock General Partners Brock Family Trust
UADTD 06/24/1998, K. Brock & S Brock General Partners Trustee of Brock Family Trust, and the Brock Irrevocable Trust (together with
Brock, the "Related Parties") and Public Company Management Corporation, a Nevada corporation (the "Company"). RECITALS
A. The Brock and the Related Parties are the holders of a certain promissory note made by the Company (the "Note") or are holders
of certain obligations or payables of the Company (the "Obligations"), B. As of September 30, 2008, the Company had accrued
$540,000 in compensation to Brock and from October I, 2008 to September 30, 2009, the Company had accrued an additional $180,000 in compensation
to Brock, included as part of the Obligations. C. The aggregate outstanding principal of the Note, without accrued and unpaid interest
on the Note to Brock, as of September 30, 2016 is $33,129. D. The parties believe it is in the best interest of the Company and the Related
Parties to restructure the Note and combine the Obligations (which also include, but are not limited to payments by Brock and Related
Parties, or either, to Wells Fargo Bank under the Bank Line of Credit and the Note Payable to Bank of America, and other advances made
on or after September 30, 2009 to the Effective Date (the "Restructure"). E. The Related Parties and the Company desire to Restructure
the Obligations and the Note by (i) cancelling the outstanding Note and all outstanding principal and accrued and unpaid interest thereunder
and· (iii) issuing a Promissory Note (the "New Note") as at the Effective Date, containing all of the Obligations owed
to Brock and the Related Parties by the Company F. The Brock, Related Parties, and the Company desire to enter into this Agreement to
set forth the terms and conditions of the Restructuring. AGREEMENT NOW, THEREFORE, in consideration of the mutual representations, warranties,
covenants, and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows: I. Restructuring. I.I Exchange of Notes. 1 (a) Brock and the Related Parties hereby sell,
assign, transfer and deliver to the Company, and the Company hereby acquires and cancels the Note in in exchange for the execution of
the New Note by the Company and the delivery thereof to Brock. The Company, Brock and the Related Parties agree that the execution and
delivery of the New Note by the Company to Brock shall constitute full satisfaction of the Note and all Obligations by the Company to
Brock and the Related Parties, or either, and on the Effective Date, the Note and all rights thereunder and the Obligations thereunder
shall be cancelled. (b) Prior to the date hereof, differences of opinion as to matters of fact and as to matters of law have arisen by
and between the parties and because of said differences of opinion as to matters of fact and as to matters of law, which includes, but
is not limited to the Nevada Revised Statutes pertaining to time periods for which a potential plaintiff has to file a civil lawsuit,
the parties desire to resolve all of their differences by this Agreement and the mutual release described in Section 3 herein. (c) Company,
Brock and the Related Parties have agreed that the New Note shall be in the principal sum of $350,000, a copy is attached hereto and made
a part hereof by reference. 1.2 Deliveries by Brock and Related Parties. Upon the execution of this Agreement, Brock and the Related Parties
shall deliver to the Company: (a) The original Note, if available, which was issued in favor of Brock, along with the Assignments of Note,
in a fonn reasonably acceptable to the Company, executed in favor of the Company; and (b) Executed original signature pages to this Agreement
and the New Note to which the Company and Brock are parties .. 1.3 Deliveries by Company. Upon the execution of this Agreement, the Company
shall deliver to Brock and the Related Parties an executed original signature page to this Agreement and the New Note to be issued by
the Company in favor of Brock. 1.4 Declarations of Lost Note. In the event that the Note is not available, Brock hereby declares as follows:
(a) Brock is the owner of the Note. (b) Brock has no knowledge or information as to the present whereabouts of the original Note owned
by Brock that may not or will not be delivered to the Company pursuant to Section 1.3 of this Agreement (the "Missing Note")
and believes that such Note has been lost, misplaced, destroyed or stolen. 2 ( c) The Missing Note nor any interest therein has not been
sold, assigned, endorsed, transferred, deposited under any agreement, hypothecated, pawned, pledged for any bank or brokerage loan or
otherwise, or disposed of in any manner by or on behalf of Brock; neither Brock nor anyone acting on Brock's behalf has signed any power
of attorney, any stock power or any other assignment or authorization respecting the same which is now outstanding and in force; and no
person, firm or corporation has any right, title, claim, equity or interest in, to or respecting any of the Missing Note. (d) This declaration
is made for the purpose of inducing the issuance of the New Note in lieu of and in substitution or exchange for the Note without requiring
the surrender of the Missing Note. ( e) Brock hereby agrees to immediately surrender the Missing Note that at any time hereafter comes
into Brock's possession or control. (J) Brock agrees to indemnify and hold harmless the Company in the event the Company shall, at any
time or from time to time, suffer any damage, liability, loss or deficiency arising out of or resulting from, or shall pay or become obligated
to pay any sum on account of any inaccuracy, misstatement of fact or breach of any duty contained herein or created hereunder. 2. Termination
of Note. As if the Effective Date and upon the issuance of the New Note, the Note is hereby terminated, cancelled and of no further force
and effect, all outstanding principal and accrued interest with respect to the Note is hereby cancelled, forgiven and released, and the
parties thereunder are released of all of their obligations thereunder. 3. Mutual Release. 3 .1 Mutual Release. Except for the obligations
created by this Agreement and the New Note, effective at the Effective Date, the Company, Brock and the Related Parties fully, finally
and forever release and agree to hold harmless each other and all their respective successors, assigns, officers, directors, stockholders,
employees, lenders, affiliates, attorneys, consultants, advisors and agents ( each, a "Releasee") from and against any and all
manner of action or actions, cause or causes of action, in law or in equity, suits, debts, liabilities, claims, demands, damages, losses,
costs and expenses, of any nature whatsoever, known or unknown, fixed or contingent, foreseeable or unforeseeable (collectively, the "Claims"),
which the parties may have at the Effective Date or may thereafter have against any of the released parties by reason of any matter, cause
or thing whatsoever from the beginning of time to the Effective Date arising out of or based upon the Note or the Obligations (the "Release").
Each of the parties hereto acknowledges that it may hereafter discover facts different from or in addition to those which it now knows
or believes to be true with respect to the Claims which are the subject of the Release and each party expressly agrees to assume the risk
of the possible discovery of additional or different facts, and agrees that the Release shall be and remain effective in all respects,
regardless of such additional or different facts. Each of the parties hereto understands and agrees that it shall expressly waive and
relinquish all rights and 3 benefits, if any, it may have under the statutory provisions of state law or federal law with respect to the
Claims which are the subject of the Release. State and federal laws contain provisions that read substantially as follows: A GENERAL RELEASE
DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR OR RELEASING PARTY DOES NOT KNOWORSUSPECTTOEXISTINHISORHERFAVORATTHE TIME OF EXECUTING THE
RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY. In connection
with the Release, each of the parties hereto represents and warrants to the other party that he or it has not assigned or transferred,
and he or it will not assign or transfer, any Claim or any interest in any Claim which he or may have against any of the released parties.
The parties, and each of them, have acknowledged that they have separately bargained for the foregoing waiver of the unknown Claims and
the waiver also includes any and all common law Claims. The parties and each of them, expressly consent that this release shall be given
in full force and effect in accord with each and all of the expressed terms and provisions, including those terms and provisions relating
to any other claims, demands and causes of action whether specified or not specified. 3.2 Breach of Release. Each of the parties hereto
agrees that if either hereafter commences, joins in, or in any manner seeks relief through any suit arising out of, based upon, or relating
to any of the Claims released by such party hereunder, or in any manner asserts against any other party hereto or the Releasees any of
the claims released hereunder ( collectively, the "Released Claims"), the party asserting such Released Claim shall pay to such
other party or such Releasee, as the case may be, in addition to any other damages caused to such other party or such Releasee, as the
case may be, all reasonable attorneys' fees incurred in defending or otherwise responding to said suit or claim. 3.3 Rights Related to
Release Provisions. In connection with the release provisions of this Agreement, each of the parties is aware that he or it has the right
to consult with an attorney before signing this Agreement and is hereby advised by the Company to do so. 4. Representations. 4.1 Investment
Representations. Brock represents and warrants that he: (a) has substantial experience in evaluating and investing in transactions involving
companies similar to the Company such that he is capable of evaluating the merits and the risks of his investment in the Company and has
the capacity to protect his interests; (b) understands the acquisition of his New Note is a speculative investment which involves a high
degree of risk ofloss of such investment; (c) is able to bear the economic risk of his investment for an indefinite period of time, including
the risk ofa complete loss of the investment; (d) is acquiring his New Note for 4 investment for his own account, not as a nominee or
agent, and not with a view to the resale or distribution thereof and ( e) is an "accredited investor" as defined in Rule 501
of Regulation D under the Securities Act of 1933, as amended. Brock acknowledges and agrees that the New Note shall bear the following
restrictive legend: "THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER
ANY STATE SECURITIES OR BLUE SKY LAWS (THE "STATE ACTS"). THIS NOTE HAS BEEN ACQUIRED BY THE HOLDER FOR INVESTMENT AND MAY NOT
BE TRANSFERRED UNLESS REGISTERED UNDER THE ACT AND ANY APPLICABLE STATE ACTS OR AN EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS IS AVAILABLE."
4.2 Authority Relative to This Agreement. The Company has full corporate power and authority to execute, deliver, and perform this Agreement
and the New Note and to consummate the transactions contemplated by this Agreement and the New Note. The execution, delivery and performance
of this Agreement and the New Note by the Company and the consummation by it of the transactions contemplated hereby and thereby have
been duly authorized by all necessary corporate action of the Company, and no other action on the part of the Company or any affiliate
of the Company is necessary to authorize such execution, delivery and performance. This Agreement and the New Note have been duly executed
and delivered by the Company and, assuming due execution and delivery by the other parties thereto, this Agreement and the New Note constitute
valid and legally binding obligations of the Company, enforceable against the Company in accordance with their respective tenns, except
that such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium, and similar laws affecting
creditors' rights generally and (ii) equitable principles which may limit the availability of certain equitable remedies in certain instances.
5. Miscellaneous. 5.1 Confidentiality of Agreement. Except as may be required by law or otherwise made publicly available by the Company,
neither of the parties, nor their respective attorneys or any person acting by, through, under or in concert with any of them, shall disclose
any of the terms of or facts relating to this Agreement or the negotiation thereof to any individual or entity, except for disclosures
made between the parties and their respective attorneys, spouses, children, or tax advisors. 5.2 Notices. All notices required or permitted
hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified; (b) when
sent by confirmed telex or facsimile if sent during normal business hours of the recipient, if not, then on the next business day; (c)
five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or ( d) one (1) day after
deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications
shall be sent to the party to be notified at the address indicated for such party on the signature page hereof or at such other address
as such party may designate by ten (10) days advance written notice to the other parties hereto. 5 5 .3 Informed Consent. Prior to the
execution of this Agreement, the pa1iies have apprised themselves of sufficient relevant information, either through their attorneys or
other sources of their own selection, in order that they might intelligently exercise their own judgment in deciding whether to execute
this Agreement. 5.4 Voluntary Act. Each party has read this Agreement and understands its terms. Each party has executed this Agreement
voluntarily and with full knowledge of its legal significance. 5.5 Assignment. This Agreement shall be binding upon and shall inure to
the benefit of the parties hereto and their respective predecessors, heirs, successors, representatives and assigns. 5.6 Fees and Expenses.
Each party shall be liable for its own costs and expenses incurred in connection with this Agreement. 5. 7 Further Assurances. Each party
agrees to perform any further acts and execute and deliver any further documents which reasonably may be necessary to carry out the provisions
and intent of this Agreement. 5.8 Governing Law. The validity, interpretation and performance of this Agreement shall be governed by and
construed under the laws of the State of Nevada without regard to conflicts oflaws principles. 5.9 Enforcement. The parties hereto consent
and agree that jurisdiction for the resolution of any dispute between them in respect of the enforcement of the rights and duties created
by this Agreement shall reside in any federal or state court sitting in Cook County, State of Nevada. Service in any action to enforce
rights created by this Agreement may be effected on counsel-of-record for any party to this Agreement. The prevailing party in any action
to enforce this Agreement shall be entitled to recover its costs and expenses, including, without limitation, reasonable attorneys' fees.
5.10 Entire Agreement; Amendments. This Agreement may not be amended or modified except by an instrument in writing signed on behalf of
each of the parties hereto. 5.11 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed
an original, but all of which together shall constitute one and the same Agreement. [Signature page.follows on page 7] 6 [SIGNATURE PAGE
TO DEBT RESTRUCTURING AGREEMENT] IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above
written. "RELATED PARTIES" "COMPANY" Stephen Brock K. Brock & S Brock General Partners trustee of Brock Family
Trust By:----:-----:-------,-,-----------,-------,--------,------ General Partner, duly authorized K. Brock & S Brock General Partners
Brock Family Trust UADTD 06/24/1998 By:. ________________ _ General Partner, duly authorized K. Brock & S Brock General Partners Trustee
of Brock Family Trust By: ----,----,----,-------,---,-------,------ Genera I Partner, duly authorized Brock Irrevocable Trust By: ----------------
Stephen Brock, Trustee PUBLIC COMPANY MANAGEMENT CORPORATION a Nevada corporation By: Name: Stephen Brock Title: President and Chief Operating
Officer 7 CONSENT OF SPOUSE OF STEPHEN BROCK The undersigned, the spouse of Stephen Brock to the foregoing Agreement, acknowledges on
her own behalf that: (a) I have read the foregoing Agreement and I know its contents; (b) I am aware that by its provisions my spouse
has agreed to sell, assign, transfer and deliver to the Company the Note owned by my spouse, including my community interest therein,
and the Obligation owned by my spouse, including my community interest therein, ( c) I hereby consent to the sale, approve of the provisions
of the Agreement, and agree that such Note, including my interest therein, and the Obligation referred to therein, including my interests
therein, that are subject to the provisions of the Agreement and that I will take no action at any time to hinder the operation of the
Agreement on such Note of Obligations or my interest therein. K. BrockExhibit 10.2

 

 

    	 	 	 

    	 

    

 

 

PROMISSORY NOTE $350,000 September 30, 2016 FOR VALUE RECEIVED, the
undersigned, PUBLIC COMP ANY MANAGEMENT CORPORATION, a Nevada corporation ("Borrower"), promises to pay to the order of Stephen
Brock, at such other place as the holder of this Note may from time to time designate in writing, the principal sum of Three Hundred Fifty
Thousand Dollars ($350,000.00), together with interest on the unpaid principal amount at the per annum rates set forth in Section 2. This
Promissory Note is issued pursuant to that certain Debt Restructuring Agreement of September 30, 2016 ("Agreement"). Prior to
the date hereof, differences of opinion as to matters of fact and as to matters of law have arisen by and between the parties to said
Agreement and because of said differences of opinion as to matters of fact and as to matters of law, which includes, but is not limited
to the Nevada Revised Statutes pertaining to time periods for which a potential plaintiff has to file a civil lawsuit, the parties had
resolved all of their differences by the Agreement, the mutual releases described in the Agreement, and the execution and delivery of
this Promissory Note. 1. Defined Terms. used herein, the following terms shall have the following meanings: "Default" means
the occurrence or existence of any condition or event which would, the passage of time, the giving of notice, or both, constitute an Event
of Default. "Loan" means the obligation from Lender to Borrower as evidenced by this Note. "Maturity Date" means September
30, 2020 subject to an extension as provided in Section 3 below. "Payment Date" has the meaning set forth in Section 3 below.
2. Interest Rate. The outstanding principal balance of this Note will bear interest at the rate of three percent (3 % ) interest. 3. Payment
Terms. (a) On the Maturity Date, Borrower will pay Lender the outstanding principal balance of this Note, together with all accrued and
unpaid interest thereon (b) Borrower shall have the option to extend the Maturity Date of this Note for one additional period of six (6)
months (the "Extension Term") provided as conditions of such extension and in order to properly exercise such option: (i) Borrower
must provide Lender written notice of exercise of such extension option not later than thirty (30) days or more than 1 sixty (60) days
prior to the otherwise applicable Maturity Date; and (ii) Borrower must pay Lender the accrued and unpaid interest to the Maturity Date.
(c) Principal and interest shall be payable in lawful money of the United States of America. Simple interest on the principal amount shall
be calculated on the basis of a 360-day year by multiplying the current outstanding principal amount by the applicable per annum rate,
multiplying the product thereof by the actual number of days elapsed, and dividing the product so obtained by 360. Each payment hereunder
shall be applied first to accrued but unpaid interest on the outstanding principal balance hereof, and then to reduction of principal.
( d) Time is of the essence with respect to the amounts due hereunder. ( e) Borrower may at any time prepay all or any part of the principal
amount hereof, without premium, but with all accrued interest to the date of prepayment. Partial prepayments will be applied to accrued
interest and then to principal. 4. Nevada Law. With respect to the amounts due under this Note, the validity, interpretation, and performance
of this Agreement shall be governed by and construed under the laws of the State of Nevada without regard to conflicts of laws principles.
Any provision in this Note which may be unenforceable or invalid under any law shall be ineffective to the extent of such unenforceability
or invalidity without affecting the enforceability or validity of any other provision hereof. 5. Enforcement. The parties hereto consent
and agree that jurisdiction for the resolution of any dispult: between them in respect of the enforcement of the rights and duties created
by this Agreement shall reside in any federal or state court sitting in Cook County, State of Nevada. Service in any action to enforce
rights created by this Agreement may be effected on counsel-ofrecord for any party to this Agreement. The prevailing party in any action
to enforce this Agreement shall be entitled to recover its costs and expenses, including, without limitation, reasonable attorneys' fees.
IN WITNESS WHEREOF, Borrower has caused this Promissory Note to be executed as of the day and year first above written. 2 BORROWER: PUBLIC
COMPANY MANAGEMENT CORPORATION By: _____________ _ Name: Stephen Brock, President

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